Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1992)43ITD21(Delhi)
1. This is an appeal by the assessee against an order of the Commissioner of Income-tax (Appeals ) pertaining to the assessment year 1987 88. The grievance of the assessee in this appeal is that the Commissioner of Income tax (Appeals) erred in sustaining disallowance of repairs and maintenance amounting to Rs. 1,07,227. The assessee is engaged in the business of ice cream. During the assessment year under consideration, the assessee purchased a property from NOIDA authority for a sum of Rs. 2,14,650 and had spent Rs. 1,07,229 on major repairs and renovation which was claimed by the assessee. However, the Income-tax Officer disallowed the deduction on the ground that the expenditure was capital in nature. However, he allowed depreciation on the same.2. Before the Commissioner of Income-tax (Appeals), the assessee presented details of repairs which were also filed before the Income-tax Officer which show that a sum of Rs. 46,072 was spent on building repair, Rs. 44,655 on electrical fi...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1989)31ITD127(Delhi)
1. The revenue has preferred these appeals for the four assessment years 1973-74 to 1976-77. The CIT (A) had disposed of these four appeals by his common order dated 14th April, 1986. The objection of the revenue is on the cancellation of the penalties levied on the assessee for the concealment of incomes under Section 271(1)(c) of the I.T. Act. The quantum of penalties levied were Rs. 44,862, Rs. 30,395, Rs. 33,197 & Rs. 40,072 for the assessment years from 1973-74 to 1976-77 2. The brief facts of the case are brought out below. The business premises of the assessee firm and the residential premises of the partners were searched on 29th Dec. 1981. The seized documents included duplicate set of cash book and ledger which were marked for identification as Nos. 57 & 58, 59, 55 & 56, and 50 relating to the assessment years 1973-74, 1974-75, 1975-76 and 1976-77 respectively.The ITO co-relating the items appearing in the seized books and the regular books of accounts was able t...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)25ITD136(Delhi)
1. The one issue referred to in grounds of appeal numbered 1 to 5 in this appeal filed by the appellant company (hereinafter referred to as the 'Indian Company') for assessment year 1982-83 is in respect of trading receipt of the appellant in the year in question. According to the appellant it was Rs. 2,13,237 representing his remuneration @ 5 per cent of the actual operating cost of Rs. 31,76,373 subject to adjustment incurred by the assessee for its principal Rolls Royce Limited, U.K. (hereinafter referred to as the 'English Company') in taxable territory. According to the IAC (Assessment) it was the sum of Rs. 31 76.373 remitted by the English Company towards the actual operating cost plus 5 per cent remuneration. According to the IAC (Asstt.) this sum. constituted the taxable receipt of the appellant company. The appellant/Indian Company had returned an income of Rs. 2,13,237 as the income of the assessment year 1982-83. But the IAC (Asstt.) proceeding on the basis of taxable rece...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)21ITD214(Delhi)
1. This appeal by the assessee is directed against the order of the Commissioner (Appeals)-IX, New Delhi, dated 26-2-1985 relating to the assessment year 1981-82. In the first ground the grievance projected by the assessee is that the learned Commissioner (Appeals) erred in law and on facts in dismissing the appeal in limine. This grievance is based upon very interesting set of facts, which must be recorded in order to get full appreciation of the case of the assessee.2. One, Mr. David Jude., Shrieves was an employee of Redifon Simulation Ltd., United Kingdom. The said employer deputed him as resident site engineer to work at Indian Naval Dockyard at Bombay from 11-5-1980 to 31-3-1981. The contract of this service of the foreign technician was approved by the Government of India, Ministry of Finance, New Delhi vide their letter dated 3-3-1981 in terms of Section 10(6)(viia) of the Income-tax Act, 1961 ('the Act'). He performed stipulated services and received the recompense therefor. ...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1985)14ITD380(Delhi)
1. This is an appeal filed by the assessee against the order of the AAC relating to the assessment year 1978-79. In order to understand the grounds of appeal, it appears that some background facts may be given.2. The dispute relates to the question of income from property. Besides a self-occupied property in Green Park, New Delhi, [the assessee owns a house property at M-25, Greater Kailash. This property was constructed in the year 1968. According to the assessee, there were certain difficulties faced by him in finding out a proper tenant for this house. The assessee, therefore, entered into a lease agreement with his brother D.R. Singhal and his wife Smt. Anjali Rani acting as a partnership firm through Shri Balkrishan Gupta in the name of B.K.Gupta & Co. From this agreement, it appears that it was a house and a commercial shop and the asses-see had leased this property at a consideration of Rs. 9,600 which was settled as annual theka value of the ground floor and upper portion....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1985)13ITD762(Delhi)
1. In this revenue appeal, the solitary ground is against the cancellation of penalty of Rs. 2,550 levied by the ITO under Section 271(1)(a) of the Income-tax Act, 1961 ('the Act') in respect of the assessment year 1977-78.2. The respondent filed its return of income on 7-10-1977, though in normal course, it should have been filed on or before 30-6-1977. In the penalty proceeding initiated for late riling, it was explained that the asses-see was a registered firm and that its finally assessed income amounted to Rs. 1,63,840, on which in the status of registered firm, the tax worked out to Rs. 27,583, against which tax deducted at source under Section 194C of the Act was to the tune of Rs. 54,598 and, therefore, there could be no question of levying any penalty which could be in relation to tax levied on assessment. The assessee further pleaded that no extension application was filed, being under the bonafide belief that the tax deducted at source was much more than the tax due. The IT...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1985)12ITD137(Delhi)
1. This is an appeal by the assessee relating to the assessment year 1977-78. In the year of account, the assessee received retrenchment compensation to the extent of Rs. 21,908.20. The assessee claimed that in view of Section 10(705) of the Income-tax Act, 1961 ('the Act'), it was exempt from tax. The assessee joined the National Mineral Development Corporation as consultant on 12-6-1970 on contract for a period of one year as per terms and conditions of the agreement dated 9-7-1970. The contract was terminated before the expiry of the period of contract. The assessee took the matter in the Court of law. The Court appointed an arbitrator who gave the award on 11-3-1976, according to which the assessee was entitled to claim Rs. 21,908.20 only from the National Mineral Development Corporation. This amount was received by the assessee on 12-5-1976. The ITO did not allow the exemption. According to him, the assessee was not a workman within the meaning of Section 10(10B). The learned AAC...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1985)12ITD161(Delhi)
1. The assessee, a private limited company, has challenged the levy of interest in the sum of Rs. 85,110 under Section 217 of the Income-tax Act, 1961 ('the Act') Some antecedent facts have to be noticed first.2. The assessee-company has been a regular assessee for the past many years. The accounting year followed is the financial year. Assessment was completed for this year on 27-3-1982 on a total income of Rs. 6,58,140. As part of this order, the ITO had directed as under: 3. On receipt of the copy of the assessment order, the assessee wrote to the ITO, on 8-4-1982, as under: While calculating the tax on the assessed income, a sum of Rs. 85,110 has been charged towards interest under Section 217. This action is patently incorrect and such provisions are not applicable to the company as no notice under Section 210 was issued by the department and, accordingly, the assessee-company was not obliged to file any statement of income under Section 209A or any estimate in respect thereof, w...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)1ITD275(Delhi)
1. By this appeal the assessee, a private limited company, carrying on business in the publication of books in the form of novels and pocket books, has raised the objection that the Commissioner (Appeals) was not justified in confirming a disallowance of Rs. 10,000 paid towards medical aid to Shri Gulshan Nanda by the assessee-company. The year involved is 1978-79 for which the relevant accounting period was the year ending 31-3-1978.2. The assessee-company publishes pocket books in Hindi and Urdu. It paid a sum of Rs. 10,000 towards the medical expenses of one of its writers Shri Gulshan Nanda. The assessee's contention was that the said Shri Nanda was one of the most important writers and was the backbone of the assessee-company. The novels written by Shri Nanda had been selling in lakhs and that because of his books, the assessee had been able to sell novels of other writers as well. According to the assessee the works of Shri Nanda had helped it to develop its business in a big wa...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)23ITD594(Delhi)
1. In these second appeals the question is whether the Appellate Asstt.Commissioner of Wealth-tax, Dehradun, whose orders dated 30th March, 1985 in respect of assessment year 1982-83 and of 14th August 1985 for the later two years are brought in appeal, rightly rejected the assessee and confirmed the assessments on the point that the assessee was not entitled to exemption under Section 5(1)(xxa) of the Wealth-tax Act, 1957 (hereinafter referred as the Act) in respect of value of shares of M/s. Narendra Explosives Ltd. (hereinafter referred as 'NEL').2. The value of shareholdings in NEL was stated to be Rs. 7,75,400, Rs. 4,60,000 and Rs. 7,70,500 for the three years respectively but these are not in dispute neither they are relevant for adjudication of the question before us.3. To understand the controversy and further as to whether the primary question which was necessary to adjudicate the issue were considered and decided, a brief history of NEL must be stated, which is that it was i...
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