Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1986)19ITD219(Mum.)
..... is a private limited company and the appeal relates to the assessment year 1978-79. the ito applied the provisions of section 40a(8) of the income-tax act, 1961 ('the act') and out of the claim of deduction of interest to various persons (other than banks) disallowed 15 per cent. before the commissioner (appeals) the assessee-company ..... supreme court in a number of judicial pronouncements has laid down that even though the words used in the definition of 'business' under section 2(73) of the act are wide, underlying each of them is the fundamental idea of continuous exercise of an activity, i.e., some real, substantive and systematic or organised course of activity ..... it incurred a loss in the business of exports, the net result being a very small income, which was offset by the deduction under section 80m of the act.proceeding further he submitted that the total investments of the assessee-company, according to the audited balance sheet of the company, at the end of the previous year .....
Tag this Judgment!Court : Delhi
Reported in : 2(1986)ACC24
..... . pukhraj surana : [1962]2scr333 for this preposition. in that case the document which was exhibit marked was a document which was required to be stamped under the stamp act, and no objection was taken to it being exhibit marked and received in evidence. the principles laid down in the case cited above, in my view, are not applicable ..... policy is because various types of policies can be taken out. before me it is stated that there are three types of policies which are available. these are:1. act policy.2. public risk policy.3. comprehensive policy.33. in view of this i had asked the counsel for the insurance company whether the insurance company had in ..... -7-80 on which date the insurance policy was purported to be proved reads as under:2-7-80 : present : shrimati manju sahani petitioner in person.shri karan bal for the respondents. petitioner has filed photostat copy of the estate duty certificate and break up of emoluments being drawn by the deceased before his death. since these documents .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1987)(31)ELT566TriDel
..... the adjudicating authority and the applicants should be permitted to inspect the records. shri jain has referred to the provisions of section 35c of the central excises and salt act, 1944. he has turther pleaded that the correctness of thematter cannot be seen without going through the complete records, and he wants to challenge the correctness of the ..... is later. he has pleaded that the present appeals before the tribunal are transferred matters in terms of the provisions of section 35p of the central excises and salt act, 1944, and as such the respondent has no right to file a paper book. the learned authorised representative has referred to a judgment of the gujarat high court ..... the same should have also been transferred to the tribunal, as the appeal has been transferred to the tribunal in terms of section 35p of central excises and salt act 1944, and he wants to examine the whole record. he has objected to the filing of paper book dated 29.10.1985 by the department, and has pleaded .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1986)16ITD615(Delhi)
..... his order dated 9-12-1983, that on the facts and in the circumstances of the case the provisions of section 49(1)(iii) of the income-tax act, 1961 ('the act') were applicable to the case of the assessee for the assessment year 1980-81 and as such the capital gains of rs. 91,723 worked out by the ..... the assessee came to acquire the jewellery and recorded the historical background as noted supra in his impugned order dated 19-3-1983 made under section 143(3) of the act. according to the ito the assets acquired by the assessee, including the jewellery sold, were by succession, inheritance or devolution and attracted the provisions of section 49(1)( ..... that the family settlement was a device or artifice envisaged with an intent to defraud the revenue.12. the learned counsel for the assessee submitted that the hindu succession act does not apply to testamentary disposition, in this case, the court has recognised existence of the will and it was on that basis that the assessee received properties .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1986)(7)LC343Tri(Delhi)
..... a financial newspaper did not report the prices of extra hardened oil.16. reliance of the learned representative of the department on the definitions of 'oil' in various other acts and rules etc. is equally pointless. those definitions are in a particular context and are designed to serve a (particular purpose. they cannot be, and are not, applicable ..... less than three members and that there was nothing in the act to prevent the hon'ble president from constituting a bench of more than three members. the bench also observed that the order of the hon'ble president constituting ..... would not be confined to any particular reference point.5. the appellants as well as the respondent made a preliminary objection saying that there was no provision in the act to constitute a larger special bench. the bench observed that under the provisions then in force, a classification matter had to be decided by a bench of not .....
Tag this Judgment!Court : Rajasthan
Reported in : 1987(2)WLN661
..... rights of the parties can enable a person to resist the suit under section 180 of the u.p. tenancy act. it was held that such an order cannot enable a person to resist a suit under section 180 of the act, and such a suit can only be resisted by a person who can claim possession with title. in sajjan singh .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1987P& H5
..... (3) whoever conspires or attempts to commit, or advocates, abets, advises or incites. or knowingly facilitates the commission of, a terrorist act or any act preparatory to a terrorist act, shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to term of life ..... . (3) whoever conspires or attempts to commit, or advocates, abets, advises or incites or knowingly facilitates the commission of, a terrorist act or any act preparatory to a terrorist act, shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to term of life ..... the following words:'2(c) 'disruptive activity' has the meaning assigned to it in s. 4, and the expression 'disruptionist' shall be construed accordingly; * * * * * * * * * * * (f) 'terrorist act' has the meaning assigned to it in sub-section (1) of s. 3 and the expression 'terrorist' shall be construed accordingly; * * * * * * * * * * * 3. (1) whoever with intent .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 1986CriLJ1757
..... fine.3. whoever conspires or attempts to commit, or advocates, abets, advises or incites or knowingly facilitates the commission of, a terrorist act or any act preparatory to a terrorist act, shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to term of ..... fine.3. whoever conspires or attempts to commit, or advocates, abets, advises or incites or knowingly facilitates the commission of, a terrorist act or any act preparatory to a terrorist act, shall be punishable with imprisonment for a term which shall not be less than three years but which may extend to term of ..... following words:2(c) 'disruptive activity' has the meaning assigned to it in section 4, and the expression 'disruptionist` shall be construed accordingly:* * * * * * * * * * * *(f) 'terrorist act' has the meaning assigned to it in sub-section (1) of section 3 and the expression 'terrorist' shall be construed accordingly:* * * * * * * * * * * *3(1) whoever with intent .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1986)19ITD45(Mum.)
..... industries, except those which are engaged in the manufacture of low priority items specified in the new eleventh schedule proposed to be inserted in the income-tax act. the bill does not make any distinction in this regard between small-scale industrial undertakings and other undertakings. hence, like any other industrial undertaking, a small ..... and not to restrict the concession to such undertakings. this contention of the learned counsel appears to be well founded. section 32a was inserted by the finance act, 1976, with effect from 1-4-1976 and has partially replaced development rebate in respect of ships, aircrafts or machinery and plants installed after 31-3 ..... shri s.p. menta reiterated the same submissions as made before the commissioner. according to him, section 32a(2)(b)(ii) as inserted by the finance act, 1977 is an enabling provision to extend the scope of investment allowance so as to entitle small-scale industrial undertakings to wider concessions and without restrictions. small .....
Tag this Judgment!Court : Kolkata
Reported in : 1987(11)ECC385,1987(27)ELT369(Cal),[1987]168ITR815(Cal),[1987]67STC209(Cal)
..... a large scale. by virtue of a notification issued by the central government on january 1, 1974, under, inter alia, the foreign exchange regulation act, every investigating officer and every inspecting officer employed in the special unit of the enforcement directorate at calcutta has been authorised to exercise all the powers ..... by kalyan kumar majumdar, the investigating officer of the enforcement branch, in which he has stated :'i being the competent officer under the foreign exchange regulation act, 1973, having reasons to believe that certain documents, including indian currency, foreign exchange and books of account which, in my opinion, will be useful for ..... are continuing. sittings of the arbitrator are held regularly at calcutta and new delhi. the petitioner has further stated that the petitioner is assessed under the income-tax act, 1961, where his status has been shown as ' non-resident '.15. on june 1, 1985, the assistant director, enforcement directorate, government of india, .....
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