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Judgment Search Results Home > Cases Phrase: customs act 1962 Court: income tax appellate tribunal itat delhi Year: 1987 Page 1 of about 24 results (0.073 seconds)

Apr 09 1987 (TRI)

Hindustan Computers Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Apr-09-1987

Reported in : (1987)21ITD524(Delhi)

..... before us the learned counsel for the assessee contended that section 43b is a special provision which overrides all other provisions of the act and, therefore, the amounts of customs and excise duties paid by the assessee had to be allowed in full in the year of payment. according to him, the present ..... established commercial principles. in our view, therefore, the learned ito was patently in error in allowing in addition to the full amount of excise and customs duties already debited in the profit & loss account, the sums pertaining to those duties that were included in the value of the goods in the ..... the revaluation of the closing stock of the assessee by excluding from the value of the goods an important element of cost, i.e., the customs and the excise duties.according to him, section 43b was not intended to permit that and the action of the income-tax officer was, therefore, ..... the revenue. the learned commissioner observed that the assessee had been following a consistent method of stock valuation under which the element of excise and custom duties was included in the value of the closing stock and that section 43b did not permit the revision of the value of closing stock by ..... perused the material placed before us.3. the assessee is a manufacturer of computers and for that purpose it imports certain components on which it pays customs duty. the assessee has also to pay excise duty on the computers manufactured by it. in the year under consideration the accounting year for which .....

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Oct 13 1987 (TRI)

Rolls Royce India Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Oct-13-1987

Reported in : (1988)25ITD136(Delhi)

..... consumed by the indian and other markets, to provide secretarial and administrative assistance to the : service representatives of rr in india, to provide liaison service between rr and its customers or potential customers regarding supply of rr's products and servicing and to look after the visitors from rr to india and neighbouring countries and to provide for their stay and travel ..... incurred by mm or must be deemed to have claimed some expenditure and, therefore, a portion of it would be disallowed by applying the restrictive provisions of the income-tax act all because the assessee-eompany received some reimburse - ment of the expenditure incurred. this, in my opinion, is not the correct appreciation of the situation. the correct appreciation of the ..... for a period not exceeding five years) any immovable property in india without obtaining prior permission of the reserve bank of india under section 31 of the foreign exchange regulation act, 1973. (vi) the liaison office in india will furnish to us (in duplicate on a yearly basis) the following particulars/documents : (a) a certificate from the auditors to the ..... for a period not exceeding five years) any immovable property in india without obtaining prior permission of the reserve bank of india under section 31 of the foreign exchange regulation act, 1973. (vi) the liaison office in india will furnish to us (in duplicate on a yearly basis) the following particulars/documents : (a) a certificate from the auditors to the effect .....

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Jan 28 1987 (TRI)

Tyagi Anand and Co. (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jan-28-1987

Reported in : (1987)21ITD1(Delhi)

..... expenditure which is lavish or on extravagant scale can be considered as entertainment expenditure and expenditure incurred by an assessee in the ordinary course of business under obligation due to custom or usage of trade cannot be termed as 'entertainment expenditure' and disallowed as such.8. it appears it was with this background of conflict of judicial opinion surrounding these ..... the circumstances of the case, the expenditure incurred by the assessee on cost of tickets issued free falls within the ambit of section 37(2a) of the income-tax act, 1961 ('the act').2. we have heard the parties. the assessee is a private limited company and, inter alia, carries on the business of exhibition of films. the assessee's books ..... by the learned accountant member, as rightly pointed out by the learned accountant member the mere nomenclature of an account does not determine the admissibility or the expenditure under the act. it is only a matter of accounting convenience but not determinative of the character of the expenditure, e.g., if travelling expenditure is debited under the head 'stationery' or ..... respectively. the appeals before the commissioner (appeals) on this issue was unsuccessful. the learned commissioner (appeals) was of the opinion that after the insertion of the explanation by the finance act, 1983 with retrospective effect from 1-4-1976, every kind of expenditure for the purpose of entertainment had to be disallowed and this expenditure fell within that ratio.3. thereafter .....

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Jul 23 1987 (TRI)

inspecting Assistant Vs. Rollatainers Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jul-23-1987

Reported in : (1987)23ITD440(Delhi)

..... ex-factory sale price of the machines minus the landed cost of the imported and or independently bought out components, irrespective of the sources of procurement, including ocean freight, insurance, customs duties etc. limited to an annual production of rs. 48 lakhs (rupees forty-eight lakhs). 4. in addition to the royalty mentioned above cmp shall be paid a lump sum ..... at all times after its termination, not to divulge or disclose any of the affairs, prices, drawings, designs or technical information of cmp (except by way of legitimate information to customers for the purpose of leasing or serving the machinery during the life of this agreement), nor to use or attempt to use any such confidential information or trade secret of ..... merely contended that expenditure was of a capital nature for acquiring a capital asset on which the assessee was entitled to depreciation allowance under section 32 of the income-tax act. secondly it was a case of an agreement for a period of five years and upon termination of that agreement as per clause 18, all drawings, models, designs, pertinent technical ..... shall have been possessed during the life of this agreement, unless such use is permitted in accordance with this agreement nor to act in any manner which may injure or cause loss to cmp, but licensee shall in all matters act loyally and faithfully to cmp and support and defend its interests. licensee shall take every reasonable measure in order to ensure .....

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Oct 15 1987 (TRI)

Commissioner of Wealth-tax Vs. Ram Pershad and Sons

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Oct-15-1987

Reported in : (1988)24ITD358(Delhi)

..... that letter no denial or explanation was offered. in the case of jayshree textile & industries ltd. (supra) where an affidavit had been filed by the officers of the excise and customs department it was held by the hon'ble calcutta high court that mere averments made in the affidavit without the support of records was not reliable and relevant. in the ..... in the case of central inland water transport corporation ltd. (supra) the supreme court repelled the contention sought to be raised on behalf of the excise and customs department that the collector of customs being a very responsible and a high ranking officer, there was no possibility of the power being misused or being used arbitrarily. the supreme court observed that such ..... the service on 2-2-1987. the fact that the service was so refused on 26-6-1986 and 24-7-1986 is established by the peon books. all official acts are presumed to be rightly done unless shown otherwise. the presumption of due service raised on the basis of these peon books has not been rebutted by the department. in ..... effect that these applications were barred by time as they were late by 220 days each whereas in terms of the provisions of section 27(2) of the wealth-tax act, 1957 a delay of more than thirty days could not be condoned by the appellate tribunal. in support of the objection the following office note was relied upon : order was .....

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Sep 23 1987 (TRI)

inspecting Assistant Vs. Bareilly Corpn. Bank

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Sep-23-1987

Reported in : (1988)27ITD1a(Delhi)

..... this anticipated loss is brought into account, apparently the true profits of the year are distorted and lesser amount is taken into account, but it is permitted by usuage and custom and so on. their lordships held that anticipated losses may be allowed provided they are based on the principle of valuing the stock at cost price or market price, whichever ..... trading account as above, their lordships proceeded to observe as follows: from this rigid doctrine one exception is very generally recognised on prudential grounds and is now fully sanctioned by custom, vi z., the adoption of market value at the date of making up accounts, if that value is less than cost. it is of course an anticipation of the loss ..... .8. the learned counsel for the assessee drew support for his case from the following authorities of the hon'ble madras high court in indo commercial bank ltd. v. git [1962] 44 itr 22 and cit v. carborandum universal ltd. [1984] 149 itr 759. it was pointed out to us that at page 765 the hon'ble madras high court had ..... was being changed from one recognised manner to another one. there, while valuing the opening stock of goods, the assessee had gone by interest plus customs duty and charges, but while valuing the closing stock, the customs duty and charges were excluded.the method of valuation in that case was thus the same namely, cost price but while working out the cost .....

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May 15 1987 (TRI)

iraqi Airways Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : May-15-1987

Reported in : (1987)23ITD115(Delhi)

..... except when he himself is the plaintiff.holland in his lectures on international law, at page 201, observed as under :- an ambassador is exempt from taxation and also from customs dues ; by right as to property held in his representative capacity and by courtesy as to property held otherwise. an ambassador is given rights given to his sovereign and it ..... submitted that the quantum of income assessed was excessive and illegal and whereas the income-tax officer while determining the income under rule 10(ii) of the income-tax rules, 1962 had not considered allowable depreciation, the cit (appeals) discarded that method and determined the income under rule 10(i) of the income-tax rules. this, according to him, ..... commissioner (assessment). the inspecting assistant commissioner could not verify the bills and vouchers for making any worthwhile investigations to compute the world income with reference to the indian income-tax act. according to him, mere acceptance of the statement of accounts without making any inquiry and investigation was not proper.according to the learned cit (appeals), the assessing officer ..... administered by a board of administration wholly manned by the director general of civil aviation and the representatives from the ministry of finance and communications. the board was to act independently in its administrative and financial matters but where there were financial implications about a parti-cular level the approval of the council of ministers was to be obtained. .....

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Dec 23 1987 (TRI)

Commissioner of Income-tax Vs. Ansal Properties and Industries

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Dec-23-1987

Reported in : (1988)24ITD1(Delhi)

..... . the hon'ble andhra pradesh high court specifically held that the procedure adopted for service of notice in section 282(1) of the income-tax act, 1961 applies only to notices in assessment proceedings and has no application to service of appellate orders in view of the fact that special procedure had ..... the provisions aforesaid of the code of civil procedure had no application.7. we have already referred to the various provisions contained under the income-tax act and the income-tax (appellate tribunal) rules regarding the communication of orders to the parties. section 254(3) requires the tribunal to send a copy ..... , there was no proper service of the copy of the order'. the learned departmental representative also contended that section 256(1) of the income-tax act, 1961 confers a substantive right on the commissioner or the assessee to seek a reference and this right cannot be whittled away by not serving the ..... office records of this tribunal relating to this matter.4. before proceeding further we may state certain requirements of law.section 254(3) of the income-tax act, 1961 provides that the appellate .tribunal shall send a copy of any orders passed under this section (section 254) to the assessee and to the ..... v. cot [1974] 93 itr 353 (delhi) and k.c. tiwari & sons v. cit [1962] 46 itr 236 (bom.). in both these rulings it was held that section 63(1) of the income-tax act, 1922 which was in pan materia with present section 288(1) was not exhaustive and it was permissible to .....

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Jan 28 1987 (TRI)

income-tax Officer Vs. Satya Industrial Corpn.

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jan-28-1987

Reported in : (1987)21ITD12(Delhi)

..... e' : whether, on the facts and in the circumstances of the case, weighted deduction under section 35b(1)(b)(ix) of the act, read with rule 6aa of the income-tax rules, 1962, in respect of inspection charges, amounting to rs. 15,737 was allowable 2. my task is made much easier by the fact that ..... under: whether, on the facts and in the circumstances of the case, weighted deduction under section 35b(1)(b)(ix) of the act, read with rule 6aa of the income-tax rules, 1962, in respect of inspection charges, amounting to rs. 15,737 was allowable 1. this is a matter referred to me by the ..... said rule was applicable in all pending assessments as the same were framed in pursuant to the provisions contained in section 35b of the income-tax act, 1961 ('the act'). the learned aac being convinced by the arguments made before him held that the inspection agency activities were incidental to the execution of contract of ..... year 1981-82.3. the disallowance was contested by the assessee and it was argued before the learned aac that rule 6aa of the income-tax rules, 1962 ('the rules') framed by the cbdt, was no doubt inserted with effect from 1-8-1981, but was argued to be retrospective in operation.according to ..... observations : coming to inspecting charges amounting to rs. 15,737, assessee's claim for the same is covered by rule 6aa of the income-tax rules, 1962. i find that this rule has not come into force from 1-8-1981. a question arises whether this rule is substantive or procedural. had this rule .....

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Jun 22 1987 (TRI)

M.C. Bass Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jun-22-1987

Reported in : (1987)23ITD267(Delhi)

..... medical certificates were brought on record for meeting the requirements of the situation. shri bajpai also made mention of rule 11d of the i.t. rules, 1962 to contend that no doubt the same was with effect from 1-4-1985 but was definitely applicable to the pending cases.6. in reply the learned ..... s earning capacity had declined. so on account of this also the assessee has not proved that he was entitled to deduction under section 80u of the act. on account of permanent disability reducing the assessee's earning capacity.13. the learned counsel shri sapra made mention of the finding of the itat, chandigarh ..... said to have been produced on behalf of the assessee before the lower authorities.9. the assessee's claim was under section 80-u of the act. according to the said section deduction of rs. 10,000 will be allowable if the individual was totally blind or was subject to or suffering from ..... that the assessee was suffering from a permanent physical disability and as a result thereof his income had gone down and, therefore, deduction under section 80u of the act should have not been disallowed. shri sapra also made mention of the following decisions:- (a) in the case of anand prakash saksena v. ito [1983] 3 ..... . 2,25,544. assessee appears to have filed during the course of hearing before the learned ito a claim under section 80u of the i.t. act, 1961. the learned ito noted the commission receipts from 1975-76 to 1981-82. the learned ito further noted that the disease from which the assessee .....

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