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Judgment Search Results Home > Cases Phrase: income tax act Court: delhi Year: 1985 Page 8 of about 154 results (0.135 seconds)

Oct 28 1985 (TRI)

R.S. Avtar Singh and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Oct-28-1985

Reported in : (1985)14ITD366(Delhi)

..... not eligible for investment allowance. the commissioner was also of the view that the assessee does not fulfil the provisions of section 32a(2)(6)(vi) of the income-tax act, 1961 ('the act'). the ito while passing the assessment orders stated that investment allowance at the rate of 25 per cent be allowed on the plant and machinery. he has not ..... in the matter. the point of difference of opinion is : whether, on the facts and in the circumstances of the case, the commissioner of income-tax was justified in passing orders under section 263 of the income-tax act, 1961 holding that assessment orders passed by the ito in respect of assessment years under consideration treating the assessee-firm as industrial undertakings entitled to ..... that the business of the assessee insofar as it is a business of construction, manufacture or production of any articles or things would be eligible for investment allowance. the income-tax officer will, therefore, bear in mind the above requirement of law while satisfying himself the assessee's eligibility by fulfilling the other conditions given in section 32a.in view ..... supported by copies of vouchers filed. ... the claim for investment allowance made is found to be admissible.dealing with the claims for depreciation, extra depreciation and investment allowance, the income-tax officer observed as follows : the assessee has produced the original bills for additions made in the machinery, etc., which have been seen to justify its claim. the assessee has .....

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May 24 1985 (HC)

Commissioner of Sales Tax Vs. the Siemens India Limited

Court : Delhi

Decided on : May-24-1985

Reported in : [1986]61STC194(Delhi)

..... a purchaser of an electric motor would be entitled to get the deduction mentioned in section 31 and section 32 of the income-tax act, 1961, if such a motor is used for business or profession. is there any reason why we should give a different meaning to industrial machinery ..... before us. 29. in helping to construe the meaning of the words 'industrial machinery and plant', it is useful to refer to certain provisions of the income-tax act, 1961, where similar words are used. by section 31 repairs and insurance is allowed as a deduction in respect of machinery, plant and furniture used in ..... per cent, then can an electric motor be described as a part of industrial machinery and plant. as seen by reference to the income-tax act, 1961, there would be little doubt that an electric motor would either be treated as machinery or plant. no one can deny that ..... if the intention was clear but the drafting was not clear then the clear intention must be given effect to. a similar view was expressed in commissioner of income-tax, patiala v. shahzada nand and sons : [1966]60itr392(sc) , in which it was held that if there was a reasonable doubt, the construction beneficial ..... sets were not electrical goods, but agricultural implements, which fell under entry no. 34 of schedule b to the punjab general sales tax act, 1948. in that case, the order imposing sales tax on the sale of monoblock pumping sets to agriculturists was quashed. it was, however, held that if such pumping sets were .....

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Jan 22 1985 (HC)

Ramesh Kumar Vs. State

Court : Delhi

Decided on : Jan-22-1985

Reported in : 1985CriLJ683; 1985(1)Crimes1072; 27(1985)DLT287; 1985(8)DRJ251

..... rani was a partner in the firm and that the firm was genuine and set aside the cancellation order of the income-tax officer. in the meantime, the income-tax officer initiated prosecution of the partners of the firm under section 277 of the income-tax act for having filed false returns. the assessed went in revision to the punjab & haryana high court for quashing the ..... appeal against the aforesaid order of the punjab & haryana high court quashed the proceedings with the following observations: 'heardcounsel, special leave granted. in view of the finding recorded by the income-tax appellate tribunal that it was clear on the appraisal of the entire material on the record that shrimati janak rani was a partner of the assessed-firm and that the ..... the view i have taken from a reported decision of the supreme court in uttam chand & another v. ito, central circle, amritsar, : [1982]133itr909(sc) . in that case the income-tax officer had granted registration to a firm known as m/s. handa and chopra, amritsar, for the assessment years 1960-61 onwards to 1969-70. although the constitution of the ..... prosecution against the firm. however, a learned single judge of the said high court dismissed the revision petition, inter alia, observing that the proceedings before the magistrate were entirely independent of the findings the income-tax appellate tribunal and .....

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Mar 25 1985 (TRI)

Collector of Central Excise and Vs. NaraIn Dass Saraf

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : Mar-25-1985

Reported in : (1985)(5)LC1772Tri(Delhi)

..... those of a civil court, conferred on the tribunal statutorily, in terms of section 37 of the income tax act, 1922 : s.c. 129c(7) of the act. it cannot be the intent of the aforesaid decision to render section 37 of the income tax act : s. 129c (7) of the act altogether nugatory, which would be the case, if, notwithstanding the aforesaid provision, the tribunal cannot enforce ..... appeal be dismissed without a decision on merits in terms of the aforesaid provision. [reliance upon air 1969 sc 1068-the commissioner of income-tax, madras v. s. chenniappa mudaliar, construing a parallel provision in section 33(4) of the income-tax act, 1922. (c) indeed, there is no provision empowering the tribunal to dismiss the appeal for non-compliance with its orders. if there ..... subject, it may be mentioned that it is not also without significance that under section 255(6) of the income tax act, 1961, the powers of the appellate tribunal in matters of discovery, inspection and production of documents are restricted to those of an income tax officer under section 131 and not co-equal with that of a civil court as in terms of section ..... it is, undoubtedly true, that the hon'ble supreme court in the aforesaid decision, construing section 33(4) of the income-tax act, 1922, observed (in para 6 of the report of the judgment) that "the scheme of the provisions of the act relating to the appellate tribunal apparently is that it has to dispose of an appeal by making such orders as it .....

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May 27 1985 (TRI)

income-tax Officer Vs. Jagmohan Saran Kailash Chandra

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : May-27-1985

Reported in : (1985)14ITD384(Delhi)

..... with the various disallowances and additions. the learned commissioner (appeals) took the view that the words 'ending with' used in explanation 1(iv) to section 153(3) of the income-tax act, 1961 ('the act') meant that the period which is to be excluded while counting the normal limitation, cannot go beyond the date when the ito receives the directions from the iac, he ..... -1982 - date on which the draft assessment order was forwarded by the ito to the iac along with the assessee's objections.the ito completed the assessment on a total income of rs. 20,01,840 after making certain additions which it is not necessary to specifically deal with here. against the said assessment, the assessee came up in appeal before ..... for the purposes of section 153, the period (not exceeding 180 days) commencing from the date on which the ito forwards the draft order under section 144b(1) of the act to the assessee and ending with the date on which the ito receives the directions from the iac under section 144b(4) shall be excluded. the true effect of the .....

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Jul 31 1985 (TRI)

Upvan International Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jul-31-1985

Reported in : (1986)15ITD215(Delhi)

..... to was to an addition of rs. 90,000 maintained by the commissioner (appeals) and also to the rejection of allowance of weighted deduction under section 35b of the income-tax act, 1961 ('the act') in respect of certain items. in the departmental appeal the objection is taken to certain reliefs granted by the commissioner (appeals) which we will come to a little later ..... this act relating to computation of income under the head 'profits and gains of business or profession' where the assessee incurs any expenditure in respect of which payment has been or is to be made ..... the commissioner (appeals) in proposing the addition and in confirming the same to some extent. the basis for the addition is the application of section 40a(2)(a) of the act which provides for expenses or payments, which are not to be deducted in certain circumstances.this section says that notwithstanding anything to the contrary contained in any other provision of ..... , respectively.he even referred to pavit india being a relative but no disallowance as such was proposed. however, when the matter went before the iac under section 144b of the act, he was not convinced with the reasons given by the ito for the disallowance of the total sum paid to the above two parties but out of the payment made .....

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Aug 20 1985 (TRI)

Giri Land and Finance Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Aug-20-1985

Reported in : (1986)15ITD169(Delhi)

..... interest which would have been earned by it on such surplus funds, the ito made additions, relying upon section 28(iv) of the income-tax act, 1961 ('the act').the position would be clear from the following table:assessment year surplus fund interest at interest addition the rate of shown by made by ..... containing a' deeming provision regarding earning of interest income.therefore, even if the assessee's contention that the money remained idle and that no bank account was kept, may ..... could establish that the money remained engaged profitably somewhere to fetch some return, to the assessee-firm, nothing could be included in the total income in the form of 'deemed interest'. he held that the provisions of section 28(iv) were not attracted.4. in the appeals before ..... income was earned and the system of accounting maintained by the assessee is such as does not enable the computation of income that resort can be had to estimate. in the present case, there is no evidence to show that the surplus money earned interest. there is no provision under the act ..... appear to be difficult to believe, it cannot be presumed that the money was earning interest. we, therefore, uphold the order of the learned aac. in this connection, the decision of the supreme court in cit .....

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Sep 06 1985 (TRI)

Dalmia Charitable Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Sep-06-1985

Reported in : (1986)15ITD480(Delhi)

..... from the sale of 7,000 shares of orissa cement ltd. should be treated as having been applied to charitable purpose as provided under section 11(1a) of the income-tax act, 1961 ('the act'). this section reads as under : (a) where a capital asset, being property held under trust wholly for charitable or religious purposes, is transferred and the whole or any part ..... considered in the year of the acquisition. if the asset constituted an item of charitable expenditure and the investment therein was allowed as application of income to charitable purpose vide satya vijay patel hindu dharamshala trust v. cit [1972] 86 itr 683 (guj.), the entire proceeds should be considered to be capital gains. the assumption underlying the case of a capital asset ..... amount utilised for acquiring the new asset exceeds the appropriate fraction of the cost of the transferred asset.this section was inserted by the finance (no. 2) act, 1971 but it was given retrospective effect from 1962. under section 11 income derived from property held under trust only for charitable purpose or for religious purposes is exempt to the extent to which ..... the purposes of the trust it would be considered to be in application of the income for the purpose of the trust. this exemption was later on provided on a statutory footing when sub-section (1a) was added with retrospective effect from the insertion of the act. this sub-section provides that in a case where a capital asset is transferred and .....

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Dec 23 1985 (HC)

income-tax Officer Vs. Bhairo Prasad Bhagwat Saran.

Court : Delhi

Decided on : Dec-23-1985

Reported in : [1986]17ITD409(Delhi)

..... order of the aac, b range, bareilly dated 12-3-1984 whereby the penalty of rs. 12,500 imposed by the ito under section 271(1) (c) of the income-tax act, 1961 (the act), was deleted. the matter relates to the assessment year 1977-78.2. the number of facts giving rise to the present appeal are these : the assessed is a registered ..... (1) reads as follows :'explanation 1 : where in respect of any facts material to the computation of the total income of any person under this act, -(a) such person fail to offer an explanationn or offers an explanationn which is found by the income-tax officer or the appellate assistant commissioner or the commissioner (appeals) to be false, or(b) such person offers an ..... explanationn which he is not able to substantiate then, the amount added or disallowed in computing the total income of such person ..... assessed had failed to explain the nature and source of the acquisition of the said articles and as such, addition under section 69 of the act, was made to the tune of rs. 29,527 and the tax was assessed accordingly. the assessed had challenged the assessment in appeal before the aac but the addition was upheld. the assessed submitted to the .....

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Mar 05 1985 (HC)

Anurag Trading and Investment Co. (P.) Ltd. Vs. Income-tax Officer.

Court : Delhi

Decided on : Mar-05-1985

Reported in : [1986]17ITD415(Delhi)

..... order of the commissioner (appeals) upholding the order of the ito under section 104 of the income-tax act, 1961 (the act)2. the appellant is an investment company. in the assessment year 1979-80 it had distributable income of rs. 85,294 as worked out by the ito in his order. in order to ..... distribution of statutory percentage of dividends. as required under the provisions of the companies (transfer of profits to reserves) rules, 10 per cent of the income or available surplus was to be taken to the general reserves. but even after making that provisions, the company was still in a position to declare ..... year for the assessment year 1979-80. in other words, it was to distribute dividends to the extent of rs. 76,770 out of the distributable income of rs. 85,294. since it distributed dividends to the extent of rs. 65,700 only, the shortfall worked out by the ito was at ..... distribution as dividends or out of proceeds of a fresh issue of shares made for the purposes of redemption. according to him, the assessed-company acting as a prudent and law abiding businessman had to provide for the redemption of preference shares before taking into account the surplus available for distribution as ..... obviate the applicability of the provisions of section 104 the assesses-investment company had to distribute 90 per cent of its income .....

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