Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1983)4ITD6(Hyd.)
1. This appeal by the assessee, a limited company, relates to the assessment year 1974-75. The accounting period followed by the assessee is the calendar year 1973.2. In computing the total income, an amount of Rs. 14,665 which represented subsidy received from the Government of Andhra Pradesh, stood included. There is no express discussion in the assessment order about the inclusion of this amount and there is no express reference to any claim for exclusion made by the assessee. The assessee, however, appealed and contended before the Commissioner (Appeals) that the ITO had omitted to consider that the incentive granted by the Government was a contribution towards capital and did not form part of the business income and was, therefore, not exigible to tax.3. The Commissioner (Appeals) has, in paragraph 9 of his order, set out the break-up of the amount of Rs. 14,665 as under:- Refund of sales tax on purchase of machines during the year 1971-72 5,839.93- Refund of sales tax on purchas...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Nagpur
Reported in : (1982)2ITD322(Nag.)
1. The assessee has made these appeals against the consolidated order, dated 1-8-1978, of the AAC who dismissed the appeals, against the orders dated, 27-1-1978 of the WTO, A Ward, Yavatmal.2. We are deciding these appeals ex parte ', since the assessee in spite of service of the notices has failed to appear on the date of the hearing of these appeals ; hence his failure to appear on the date fixed for hearing of the appeals is without sufficient cause and reason ; as there is neither any application nor the telegram for an adjournment.3. We are disposing of these appeals, by way of passing a consolidated order, on consolidating these together for the sake of convenience, since the issue involved in these appeals is common and the contentions and the submissions of the parties are common.4. The facts, in brief, leading to these appeals are that the assessee was a coparcener of the HUF which was partitioned on Diwali 1969. The assessee was married on 2-5-1976. However, he filed the ret...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1982)1ITD529(Ahd.)
1. The assessee has filed these three appeals for the assessment years 1974-75 to 1976-77 from the common order of the Commissioner (Appeals) dated 29-9-1979.2. The assessee claimed the following payments on account of remuneration and bonus to the managing director, M.L.G. : Assessment year Salary Rs. 1974-75 27,340 1975-76 62,550 1976-77 62,785 3. M.L.G. became the managing director of the assessee-company after his father passed away on 7-9-1972. The accounting period for the assessment years 1975-76 and 1976-77 ended on 31-3-1975 and 31-3-1976, respectively. The remuneration of the managing director in the assessment year 1973-74, i.e., in the year in which the father of M.L.G. died, was Rs. 1,000 per month. This continued even in the assessment year 1974-75 till 13-9-1973. From 14-9-1973 to 31-12-1973, it was raised to Rs. 1,500 per month and from 1-1-1974 it was raised to Rs. 4,000 per month.The ITO disallowed the following sums out of the remuneration paid by the assessee to th...
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