Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1985)12ITD300(Mum.)
1. These six appeals, by the assessee, have been heard together and are being decided by this common order. The appeals relate to the assessment years 1970-71 to 1975-76. We are concerned in these appeals with the estate of Shri Maneklal A. Mehta, who died on 27-6-1969. He had executed a will and had appointed his wife, Smt. Hirabai M. Mehta, as an executrix of the said will. The revised return for the assessment year 1970-71 was filed on 29-3-1979, in the name of Smt. Hirabai M.Mehta, the executrix of the will of Shri Maneklal A. Mehta (deceased).The returns for the assessment years 1971-72 to 1973-74 were filed on 21-3-1974, while the returns for the assessment years 1974-75 and 1975-76 were filed on 30-9-1975 ; all these returns were filed in the name of Smt. Hirabai M. Mehta, the legal heir and executrix of the will of Shri Maneklal A. Mehta (deceased). Notices dated 12-2-1980 and 5-3-1980, issued by the WTO under Section 16(2) of the Wealth-tax Act, 1957 ('the Act'), were directe...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)1ITD816(Delhi)
1. This is an appeal by the revenue objecting to the order of the Commissioner (Appeals) annulling the order passed by the ITO under Section 154 of the Income-tax Act, 1961 ("the Act"), on 21-11-1979.2. The assessee is a limited company carrying on business in the manufacture of industrial gas at its factory at Nagpur. It also deals in iron and steel at its head office at New Delhi. In its assessment for 1976-77, for the previous year ended 30-6-1975, the assessee had claimed a loss of Rs. 1,91,759 in respect of its Nagpur plant which was commissioned during the relevant previous year. The assessee had claimed development rebate of Rs. 12,94,254 in respect of its plant and machinery, cost of cylinders and electrical installations, the cost of which amounted to Rs. 86,28,359. The ITO allowed a development rebate of Rs. 11,90,194, with the following words as stated in the assessment order dated 27-8-1979 : Development rebate - In its revised return the company has claimed development re...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1982)1ITD1120(Mad.)
1. These bunch of appeals, five by the assessee, Dr. (Mrs.) G. Isaac, relating to her wealth-tax assessment for the years 1974-75 to 1978-79, and three by the department, pertaining to her wealth-tax assessment for the years 1974-75, 1977-78 and 1978-79, are conveniently disposed of by this consolidated order.2. Taking up the assessee's appeal for the year 1974-75, there are two grounds of objection. The first objection is against the rejection of the assessee's claim for exemption under Section 6(ii) of the Wealth-tax Act, 1957 ("the Act"), on an amount of Rs. 19,68,810 which stood deposited in her account, originally styled "Non-resident (External) Account", under the Foreign Exchange Regulation Act, 1947 ("FERA"). The second ground of objection involves the assessee's claim for deduction of income-tax and wealth-tax liability for the assessment year 1974-75 as determined in the assessment.3. The relevant facts for consideration of the assessee's first objection may be stated. The a...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1982)1ITD232(Mad.)
1. These appeals have been referred to the Special Bench because the question whether Section 20 of the Wealth-tax Act, 1957 ("the Act"), is in pari materia with Section 171 of the Income-tax Act, 1961 was raised and a decision on the point by the Calcutta High Court in the case of Srilal Bagri v. CWT [1970] 77 ITR 901 has been disapproved by the Gujarat High Court in the case of Goswami Brijratanlalji Maharaj v. CWT [1971] 79 ITR 373.2. The relevant facts which give rise to this question are very few.There was a HUF, consisting of four coparceners, which had not been assessed to wealth-tax earlier. For the assessment years 1966-67 to 1974-75, notices were issued under Section 17 of the Act and under Section 147 of the Income-tax Act for assessing its wealth and income which had escaped assessment. Notices dated 27-12-1974 under Section 17 and dated 6-3-1975 under Section 14 of the Income-tax Act were served on the karta of the family. He made a claim that there had been a partition o...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)1ITD488(Delhi)
1. The first contention in this appeal is that the Commissioner (Appeals) was wrong in confirming the disallowance of 25 per cent of the car expenses incurred by the assessee including road tax and depreciation on account of the personal use of the cars by the directors of the company. It is the contention of the assessee that it is a private limited company which has a separate juristic personality and that when its directors make use of the company's cars for their private use, the expenditure relating to such user could be only treated as a perquisite in the hands of the directors and could not be disallowed as personal expenditure in the hands of the assessee. In support of this contention, reliance was also sought to be placed on certain decisions of the Tribunal.2. It is common ground that, in the present case, the assessee has not granted the use of the cars to the directors by way of perquisite by any resolution of the company. Thus, in fact, the directors have not been allowe...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)1ITD502(Delhi)
1. The only contention in this appeal, filed by the assessee, is that the Commissioner (Appeals) was wrong in upholding the disallowance of Rs. 22,253 claimed as a deduction by the assessee in the computation of its total income.2. The assessee is a private limited company carrying on business as travel agents. Under the provisions of Section 192 of the Income-tax Act, 1961 ("the Act"), it was required to deduct tax from salaries paid to its employees and under the provisions of Section 200 of the Act, the assessee was required to pay such tax deducted, to the credit of the Central Government within the prescribed time. The assessee did deduct tax as required under Section 192 but failed to pay the amount to the credit of the Government within the prescribed time.Consequently, it was required to pay interest under Section 201(1A) of the Act, in the sum of Rs. 22,253. It is this interest which has been claimed by the assessee as a business expenditure.3. It was the contention of the as...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)1ITD724(Mum.)
2. The assessee became the tenant of a shop room even prior to 1-1-1954. There were other shop rooms/flats also in the building.Towards the close of 1969, the tenants of the building alongwith the landlord decided to form a co-operative society of all the tenants. The society was incorporated on 18-4-1970. The tenants agreed to pay a sum of Rs. 4,81,000 to the landlord for acquiring his ownership rights and also to spend a sum of Rs. 3,35,000 for the repairs of the building.The share of the assessee in these came to Rs. 40,661. The landlord sold his ownership rights to the society on 27-10-1970. On 16-2-1975, the assessee sold his shop room to another for Rs. 4,11,000. This was inclusive of the furniture and telephone in the premises, which were valued at Rs. 9,649 and also of 5 shares in the co-operative society valued at Rs. 250. Thus, the sale price of the shop premises came to Rs. 4,01,101. The assessee contended that the sale related to two separate rights, namely, the tenancy ri...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)1ITD490(Delhi)
1. The assessee Narender Mohan Foundation is a public charitable trust created by Late Shri N.N. Mohan in 1964. The objects of the trust include relief to the poor, education, medical relief and advancement of any other objects of general public utility. The previous year for the assessment year 1976-77 ended on 31-3-1976 During this year the trustees were Major Kapil Mohan, Smt. Comilla Mohan, Shri Sagar Suri and Shri S. Mohinder Singh Bedi. The trustees run a hospital at Mohan Nagar, District Ghaziabad (UP). The main income of the trust is from dividends and donations.2. Mohan Meakin Breweries Ltd. has issued 85,08,479 shares out of which 11,25,418 are held by the assessee-trust and 27,64,856 shares are held by the following persons : LIST A Shares heldName of the personLate Shri N.N. Mohan 1,59,709Smt. Ram Rakhi Mohan 19,377Major Kapil Mohan 65,254Late Col. V.R. Mohan 39,960Shri Sukh Dev Mohan 1,30,000Shri G. Sagar Suri 1,499Smt. Comilla Mohan 79,848Shri B.S. Mohan 18,902Shri Hari ...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD160(Kol.)
1. These appeals by the assessee, Ram Gopal Neotia of Calcutta, an individual, directed against four different orders of the IAC, Range VII, Calcutta, each dated 31-3-1977 under Section 271(1)(c), levying penalties of Rs. 2,600 for the assessment year 1958-59, Rs. 5,279 for the assessment year 1959-60, Rs. 2,304 for the assessment year 1960-61 and Rs. 3,189 for the assessment year 1961-62, for having concealed the particulars of his income or furnishing inaccurate particulars thereof for each of the said years, have been consolidated, heard together and are being disposed of by a common order for the sake of convenience. As already stated, the years of assessment involved are 1958-59, 1959-60, 1960-61 and 1961-62 for which the respective previous years ended 31-3-1958, 31-3-1959, 31-3-1960 and 31-3-1961.2. The admitted facts in the present appeals and/or found by us are that on the returns originally filed by the assessee for the years under consideration, the ITO completed the assess...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Nagpur
Reported in : (1982)1ITD822(Nag.)
1. The assessee is a society formed by a memorandum of association dated 11-4-1957 with the following objects : (a) to conduct, promote and patronise through instruction all such nation-building activities for the Hindu Society which the late Dr. Hedgewar instituted and envisaged ; (b) to conduct activities of literary, scientific, cultural and charitable nature conducive to the above objects ; (c) to establish libraries, medical and other relief centres, schools and colleges ; (d) to diffuse political knowledge consistent with the national heritage and thus conducive to the welfare of humanity as a whole. (i) to acquire on lease, by purchase, sale or gift, lands and buildings from Governmental or semi-Governmental authorities, trusts and corporations, institutions and societies, as well as from individuals in Nagpur or any other place in Bharat and/or abroad and to sell, manage, transfer, exchange, mortgage, demise, dispose of or otherwise deal with any property whatsoever belonging ...
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