Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (2001)77ITD561(Mad.)
..... entire additional sale price should be treated as part of the business profits, we ..... the scheme of deduction under section 80hhc of the act.10. we, therefore, direct the assessing officer to allow the deduction by treating the additional sale price consideration as part of the profits derived by the assessee from the sale of goods to the export house under section 80hhc(1a) of the act.11. in view of our finding that the ..... consideration as part of the business profit derived by the assessee from the sale of goods to the export house. it is equally wrong in treating it as part of the brokerage, commission etc. specified in the explanation (baa) to section 80hhc(4a) of the act. in the light of the decision of the kerala high court as .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1991)37ITD312(Mad.)
..... entitled to the rights and privileges conferred on him by this section, nor will he incur any obligations under the same.13. in t.s. venkatesa iyer's sale of goods and partnership acts, revised & enlarged 4th edition, 1984, at page 224 it is stated as follows: the word 'admitted' makes it clear that a minor cannot create a partnership ..... into existence in the present case and therefore the departmental authorities were fully justified in refusing registration to the assessee-firm under section 185(1 )(b) of the act. we have already quoted the relevant clauses of the partnership deed dated 27-3-1981. it is seen from the english translation of the will dated 26-11 ..... that as there was only one partner there could not be any partnership and therefore the assessee was not entitled to registration under section 185(1)(a) of the act.6. this order passed by the income-tax officer was confirmed by the appellate asst. commissioner on the ground that the original will of smt. rajeswari vedachalam was .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1991)36ITD1a(Mad.)
..... (g) & (h) of the trust deed and pointed out that these clearly establish that the objects of the trust was to promote the sales. he submitted that section 37(3a) of the act would not be applicable, inasmuch as the expenditure was in the nature of business expenditure and that further, the said provisions of law in section 37 ..... in many brands of t. vs. he therefore submitted that the comparison between the employees who are exclusively under one employer and the dealers who trade in the goods of a particular manufacturer was far fetched.67. shri tilak chand next submitted that there was no contract between the appellant-company and the dealers, either written or ..... and for all, but with a view to bringing into existence an asset or an advantage for the enduring benefit of a trade. i think that there is very good reason (in the absence of special circumstances leading to an opposite conclusion) for treating such an expenditure as properly attributable not to revenue but to capital. this test .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1995)54ITD257(Mad.)
..... . (supra) went on to state : the word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bringing into existence new goods by a process which may or may not amount to manufacture. it also takes in all the by-products, intermediate products and residual products which emerge in the course ..... allowance".secondly, "the article which the assessee is supposed to be producing is covered by item no. 10 of the eleventh schedule viz. photographic apparatus and goods".9. predictably, the said two issues were the subject matters of the appeals filed by the assessee before the first appellate authority.in support of the assessee ..... paper under controlled conditions, etc., is certainly a process whereby the appellant is producing a marketable material in a new form for sale. (iv) in any event, the eleventh schedule to the act is not applicable since the industrial undertaking of the assessee is a small scale industrial undertaking.in view of the foregoing, therefore, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1995)54ITD680(Mad.)
..... previous years. the explanation to sub -section 35ab(2) provides that 'know-how' means any industrial information or technique likely to assist in the manufacture or processing of goods or in the working of a mine, oil well or other sources of mineral deposits (including the searching for, discovery or testing of deposits or the winning of access ..... of metalock process has been obtained but also future-know-how was accessible to the appellant. royalty is also fixed as payable on the basis of net ex-factory sale price of the product exclusive of excise duties, etc. it is also based on the registered capacity plus 25% in excess thereof or on such capacity as is ..... urge that the cit (appeals) erred in his decision and he ought to have allowed the technical know-how fees paid under section 37(1) of the income-tax act, 1961.2. the relevant facts are that the assessee is a company in which public are not substantially interested. the assessee is engaged in ship repairing. the assessment year .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1983)3ITD426(Mad.)
..... the standing counsel added that the agreement has not taken away the right of the government of india provided under section 5(1)(c) of the income-tax act, 1961 ('the act'), to tax the indian resident of this type of income accruing or arising outside india. the standing counsel relied particularly on article 22 (elimination of double taxation ..... of india of powers of inclusion of malayian income in the total income provided under section 5. the standing counsel concluded by stating that the income-tax act continues to govern the taxation in india except where provisions to the contrary are made in the agreement itself and that there are no such contrary provision in ..... department that if the income were totally excluded even for rate purposes, it should not be taxable in india at all or exemption under section 10 of the act should have been provided. we cannot agree with the department. we have already held that because of provisions to the contrary, section 5, which ordinarily provides for .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1992)42ITD415(Mad.)
..... houses all of them share two basic characteristics: the author and the reader. let us turn to vaughan for his well put perceptions of the twin girders on which all good publishing is built: the single most important difference between publishing and other businesses is the unique importance and presence, visible or not, of the author. many authors feel neglected ..... try and sell to the best of their ability plus of course a large dose of luck for, all things being equal, one excellent book may sell while another, equally good, may just roll over and die for no fault of the author and the publisher. if publishers knew exactly what made a book sell, every time they 'bought a ..... term 'publication' contained in sections 3 and 14 of the act; and (ii) the decision of the jurisdictional high court in the case of alavandar, in re 57 mlj 136 in support of the proposition that a man who causes a book to be printed and offers it to the public for sale is a publisher. in view of the foregoing, therefore .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1984)7ITD845(Mad.)
..... the extract relied upon for this purpose is with regard to the interpretation of section 10 of the government railway act, 1908 (new zealand). it empowered the minister of railways to fix scales of charges to be paid for goods carried on a railway or stored in any shed, store, etc. 'in connection with a railway'. the following ..... their lordships' view, having regard to all the provisions of the statute, mean in section 10 in connection with the business and operations of a railway as a carrier of goods by rail.-hatrick (a.) & co. v. r. [1923] ac 213, pc per cur., at pp. 225-227.the counsel then referred to stroud's judicial dictionary ..... and not expenses on telephone calls, taxi fare and the like at the places of destination.) subject to the limitations we have already pointed out as regards interpretation of foreign acts, we would extract below a relevant portion from the , comment in stroud's judicial dictionary, 4th edition, volume v : (6) 'travelling expenses', in the ordinary acceptance .....
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