Judgment Search Results Home > Cases Phrase: jute manufacturers cess act 1983 section 4 crediting proceeds of duties to the consolidated fund of india Court: income tax appellate tribunal itat mumbai Page 1 of about 1 results (0.372 seconds)

Dy. Cit Vs. Sarabhai Piramal

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... so that the particular name and formula of a medicine cannot be used by any other person if the medicine is registered under trademark and merchandise act, meaning thereby the formula of manufacturing or processing of medicine which may be termed as a patent right according to the revenue does not have its own existence independently without making ..... facilitates the trading operation of the jvc, in support of this proposition, mr, agarwal has placed reliance upon the judgment of the apex court in the case of empire jute co. ltd. v. cit in which it has been held that the expenditure even if incurred for obtaining an advantage of enduring benefit may, nonetheless, be on ..... , if commissioner (appeals) is satisfied that the omission of the ground from the form of appeal was not wilful or unreasonable. the supreme court in the case of jute corporation of india ltd. v. cit 187 itr 688 (sc) has held that if commissioner (appeals) is satisfied with the factors justifying the raising of new plea .....

Reliance Share and Stock Brokers (P) Vs. Addl. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)1SOT44(Mum.)

..... of kali prasad singh (supra). in that case, the assessee had entered into certain lease agreements where under the lessee was to pay the assessee entire road cess payable under the cess act in addition to the prescribed rent or royalty. during the accounting period, the assessee realized a sum of rs. 4,609 on account of road ..... were not applicable on the facts of the case. in the case of the assessee levy was not in the nature of a fee for grant of license to manufacture and therefore calcutta high court judgment did not apply. the decision of itat hyderabad bench also did not apply because unlike state electricity board the levy of sebi was ..... honble court held that the amounts collected by the assessee in the name of rusum constituted business receipt of the assessee. however, following the judgment in the case of kedarnath jute mfg. co. ltd. (supra), the honble court held that as the assessee was following mercantile system of accounting, he could rightly claim deduction of the same as .....

Videsh Sanchar Nigam Ltd. Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)111ITD190(Mum.)

..... from the ore at four units at different locations. in the year under consideration, the assessee set up another unit for manufacturing the same item and claimed exemption under section 15c of the indian it act, 1922. the claim was disallowed by the tax authorities on the ground that considering the nature of the activity, it ..... the reason that in the case decided by the supreme court, the assessee had set up a separate jute mill as an industrial undertaking in addition to the existing industrial undertaking of the assessee engaged in the manufacture of boilers and machinery parts. the cit(a) held that in the present case, the activity of ..... division.steel foundry division started manufacturing castings which were used by the existing division of assessee. in the jute mill, the material was supplied by the boiler division. after machining, the parts were given back to boiler division. the assessee claimed deduction under section 15c of the indian it act, 1922. the claim was rejected by the .....

Swan Mills Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1987)22ITD193(Mum.)

..... case of cit v. century enka ltd. (calcutta) 130 itr 267, wherein it was held that the taxable event under the central excise and salt act, 1944, is on the manufacture or production and, therefore, a liability accrued for the payment of duty. in the result, he submitted that the excise duty liability disallowed by the cit ..... of century enka ltd. 130 itr 267, the calcutta high court analysed the scheme of the excise act and also applied the decision of the supreme court in kedarnath jute mfg. co. ltd.'s case and reached the conclusion that upon manufacture the excise duty liability accrued. he also submitted that the said liability was not a contingent liability ..... even without completion of assessment, it could be said that the liability had accrued upon manufacture and removal of goods under the provisions of the excise duty act. the cit (a) erred in laying' the decision of the supreme court in the case of kedarnath jute mfg. co. ltd. (supra), in procrastian bed and cutting it to size without .....

The Joint Commissioner of Income Vs. Abbot Laboratories (i) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... .9.1995 with suvidha chemicals.as per this agreement, at the time of original agreement, there were 250 employees in the kurla manufacturing unit. but 39 employees were transferred or reduced. therefore, assessee company agreed that the consideration payable to suvidha chemicals shall be proportionately ..... on the closure of one unit cannot be allowed as deduction under section 37 of the act in view of the hon'ble madras high court judgment in the case of india manufactures (madras) pvt. ltd. 155 itr 774 hon'ble calcutta high court judgment in the ..... fact that no entries were made in the books of account in view of supreme court judgment in the case of kedarnath jute mfg. co. 82 itr 363.27. as per legal position mentioned above, we are in agreement with the learned counsel ..... , 37 itr 1 and 80 itr 244. further, the appellant placed reliance on the supreme court decision in the case of kedarnath jute mfg. co. ltd. 82 itr 363, wherein, it was held that the factum of making or not making an entry in .....

Reliance Industrial Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the income liable to tax. a number of court pronouncements have been cited including the celebrated judgment of hon'ble supreme court in the case of kedarnath jute manufacturing co. ltd. (supra) that whether an assessee is entitled to a particular deduction or not will depend upon the provision of law relating thereto and not ..... contractual obligation can be whisked away on the ground that a certain accounting standard has been followed to maintain books of account. it is pointed that the it act does not recognize the matching principle of accounting of income. in this connection, distinction between accounting standard-1 issued by icai and accounting standard-1 issued ..... as to determine income under the income-tax statute cannot be upheld. this is so because accrual of liability is the crux of the matter under the it act where the assesses is following mercantile system of accounting. on the other hand, accounting standards which are issued by the icai are governed by different disclosure .....

Barmecha'S Impex (P) Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)7SOT26(Mum.)

..... 2000 and export activity started during the said financial year as well.assessee complied with the conditions laid down under section 10a of the act as the undertaking began manufacturing /producing article or thing. the undertaking was formed not splitting up or reconstruction of business or by transfer of old machinery. all export ..... authorities. relying upon the decisions of the hon'ble supreme court in the case of gem india mfg. co. (supra) and in the case of reliance jute & industries ltd. (supra), the learned departmental representative submitted, the orders of the revenue authorities is liable to be upheld. the learned departmental representative submitted ..... that in the case of reliance jute & industries ltd. v. commissioner of income tax (1979) 120 itr 921 (sc), the hon'ble supreme court held "it is a cardinal principle of .....

Orient Cartons Pvt. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)60ITD87(Mum.)

..... supposed to encourage investment in new assets. he also referred to the decision of the hon'ble supreme court in the case of addl. cit vs. surat art silk cloth manufacturers association (1980) 121 itr 1 (sc) and mentioned that in case of doubt, the court has to resort to some construction to further the purpose of the statute. the ..... learned counsel for the assessee agreed that the issue raised in this appeal is res integra but sought to take support from certain decisions given under s. 54 of the it act.13. under s. 54, for claiming exemption from the levy of capital gains on the transfer of a residential property, another property has to be purchased two years ..... . 3. the parties hereto shall within 21 days from the date thereof an application in form no. 37-i with the appropriate authority appointed under chapter xx-c of the it act, 1961." 4. the other agreement dt. 30th march, 1992, with shri ramesh d. shah is also worded in similar language.5. the assessee-company also paid the sale .....

Raymond Woollen Mills Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1986)18ITD64(Mum.)

..... to consider two items at least. both these have been worked out starting with some raw material, incurring expenditure by way of fiscal levies, freight, manufacturing operations, supervising operations, management operations and any number of other items of expenditure. in an extreme case we can even think of unrelated expenditure like those ..... the departmental authorities, while drawing support from expert opinion like the guidelines, have urged that to arrive at the stock valuation the raw materials cost, the manufacturing cost and all other imposts levied and expenditure incurred thereon should be taken into account. as an abstract concept, certainly no objection can be taken to ..... 1. the assessee is a manufacturer of woollen material from mostly imported wool and exports them. different grounds of appeal have been raised. these are considered seriatim.2. disallowance under section 40(c)/40a(5) of the income-tax act, 1961: the point relating to the treatment of contribution of a sum of rs. .....