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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Year: 1988 Page 1 of about 1,743 results (0.118 seconds)

Jan 01 1988 (TRI)

Prabhat Zarda Factory Ltd. Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : Jan-01-1988

Reported in : (1988)(34)ELT239TriDel

..... the firms had been registered separately as partnership firms and they were separate assessees for the purpose of income-tax. we observe that, unlike under the income-tax act, under the central excises and salt act or the partnership act a firm is not a juristic person. "the firm's name is only a collective name for ..... the individual partners" 1986 (24) e.l.t. 186 (s.c.) - deputy commissioner of sales tax (law) v. .k ..... imposition of the central excise duty on branded chewing tobacco on 1.3.1975. it may be that ratna was originally setup as an income-tax "planning" device but the arrangement came handy when central excise duty also came into the picture and ratna was then used for artificially ..... i) expenses on advertisements in magazines, newspapers, journals and periodicals and souvenirs, and also on pamphlets, brochures, hand-bills etc. (ii) expenses (including incoming and outgoing freight) by means of free gifts, prizes and sample distribution of zarda and other articles under any scheme meant for sale promotion; (iii) expenses ..... .kelukutty. further, because of the related person concept embodied in section 4 of the central excises and salt act, 1944, the mere fact of the two firms having a separate entity and registration is .....

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Jan 02 1988 (HC)

Dhronamrajti Satyanarayana Vs. N.T. Rama Rao and ors.

Court : Andhra Pradesh

Decided on : Jan-02-1988

Reported in : AIR1988AP62

..... take steps for penal action in proceedings in respect of the alleged violations of the provisions of the income-tax act, the wealth-tax act and the foreign exchange regulation act on the part of the 1st respondent. so far as the allegations based on the disclosure of income and wealth in respect of the 1st respondent and his family is concerned, we find no reason for ..... 1st respondent had forfeited his moral right to continue in office as he could not have enforced the tax laws and taken action against those who defaulted or delayed payment of tax. if there are any actions to be taken under the wealth-tax act or the income-tax act with reference to the proceedings which are new pending; it is a matter for the appropriate authorities ..... .5 lakhs in his individual capacity and wealth aggregating to about rs.51.50 lakhs in his capacity as individual and as kartha of the hindu undivided family to the income-tax authorities under voluntary disclosure scheme is totally false, says, sri ram jeth malani. the falsity does not pertain to the declaration under the voluntary disclosure scheme; but it is in ..... assumption that the state government is party-respondent in both the writ petitions. have also been filed on behalf of the chairman, central board of direct taxes, the reserve bank of india, and he commissioner of income-tax, hyderabad, who are respondents in the writ petition. 6. apart from denying specific accusations levelled by the petitioner, the main thrust in the counters filed .....

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Jan 04 1988 (HC)

Commissioner of Income-tax Vs. Sheikh Munir and ors.

Court : Madhya Pradesh

Decided on : Jan-04-1988

Reported in : [1988]170ITR421(MP)

..... tribunal, jabalpur bench, jabalpur, has, on a direction being issued by this court on an application under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), referred the following question of law to this court for its opinion :'whether, on the facts and circumstances of the case, the tribunal was right in law in deleting the ..... ,300 was also imposed on the assessee under section 271(1)(c) of the act. on an appeal riled by the assessee, however, the tribunal set aside the order of imposition of penalty.3. it has been urged by learned counsel for the applicant, namely, the commissioner of income-tax, jabalpur, that the tribunal committed a manifest error of law in taking the ..... view that the burden in the instant case to prove concealment of income or furnishing inaccurate particulars thereof lay on the department. it has been pointed out by him that in ..... on his part, and on his failure to discharge this burden, he will be deemed to have concealed the particulars of his income or furnished inaccurate particulars of such income for the purposes of section 271(1)(c) of the act, even though as seen above, the relevant assessment year was 1964-65, the explanation referred to above inserted in section 271(1 .....

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Jan 04 1988 (HC)

Glass Fibre Textiles Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Decided on : Jan-04-1988

Reported in : [1988]170ITR453(MP)

..... tribunal, indore bench, indore, has referred the following question to this court for its opinion under section 256(1) of the income-tax act, 1961, hereinafter referred to as 'the act' :'whether, on the facts and in the circumstances of the case, on the formation of this assessee-firm by shri vinod ..... deduction under section 80j at rs. 12,560 ?'2. the matter related to the assessment year 1975-76. the assessee is a registered firm deriving income from manufacture of fibreglass which was supplied to the bharat heavy electricals ltd., bhopal. for the assessment year in question, the assessee claimed deduction of ..... a certain amount under section 80j of the act. a similar deduction had been claimed in the assessment year 1974-75 also. it was disallowed by the tribunal on the finding that shri vinod sonpar ..... subsequently transferred machinery to the assessee-firm and since the assessee-firm was a new business, the provisions of section 80j(4)(ii) of the act were attracted and the benefit of section 80j consequently could not be claimed by the assessee. relying on its finding given in the order relating to ..... essentially findings of fact. in view of those findings, there seems to be no doubt that the provisions of section 80j(4)(ii) of the act are clearly attracted and the tribunal cannot be said to have committed any error in taking the view which it did. our answer to the question .....

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Jan 04 1988 (TRI)

Tenth Income-tax Officer Vs. B.C. Deshpande

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Jan-04-1988

Reported in : (1988)27ITD194(Mum.)

..... the assessee. that decision, of course, was given in the context of section 2(11)(i)(a) of the indian income-tax act, 1922 but would be applicable to similar provisions under the present act. a decision to the same effect has been made by the allahabad high court in the case of shri sobhag mal lodha ..... . he maintained books of account as required by section 3(1)(b) of the it act in respect of his source of income under the head 'income from salary'. for the assessment year 1980-81, he filed, his return of income and showed income from salary for the period 1-4-1979 to 10-9-1979 received from peico ..... court held that it is open to an assessee to make up the accounts in respect of the income as a judge and elect a different previous year for the income under section 3(1)(b) of the it act. no judgment holding a contrary view has been brought to our notice on behalf of the revenue. ..... rao's case (supra) has in terms stated that the concept of duality of previous year in respect of different sources of income is borne out by sections 3 and 4 of the it act. for the purpose of electing the previous year, the crucial date is the making up of accounts, date of commencement of ..... we agree with the cit (a) that the sources of income of the assessee were different, although the head under which this income was returned was the same, .....

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Jan 04 1988 (TRI)

Samir Diamonds Exports (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Jan-04-1988

Reported in : (1988)25ITD73(Mum.)

..... ) and hold that weighted deduction was allowable on expenditure incurred on interest on advances in packing credit account under section 35b(1)(b)(viii) of the income-tax act, 1961.17. we have already stated that under the scheme for giving advances in the packing credit account, interest at the penal rate is liable to ..... the bombay high court in the case of eldee wire ropes ltd. (supra) was a decision rejecting the application under section 256(2) of the income-tax act, 1961 and that the decision rejecting the application under section 256(2) should not be construed as a decision affirming the view taken by the ..... in this appeal for the assessment year 1977-78, the assessee has challenged disallowance of weighted deduction under section 35b(1)(b) of the income-tax act, 1961 in respect of expenditure incurred on several items. however, at the time of hearing of this appeal, shri y.p. trivedi, ..... the items would fall under sub-clause (viii) of section 35b(1)(b) of the income-tax act, 1961. the high court by order dated 4-7-1980 rejected the application under section 256(2) of the act. this rejection is reported in the september 1984 issue of bombay chartered accountants journal. while rejecting ..... was rs. 2,03,417. the provision under which said claim was made was sub-clause (viii) of section 35b(1)(5) of the act. the income-tax officer rejected the claim with the following observations : this expenditure also does not fall in the description of sub-clause (viii) and does not qualify .....

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Jan 05 1988 (TRI)

K.T. Kuruvila Vs. Collector of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

Decided on : Jan-05-1988

Reported in : (1990)(46)ELT304Tri(Chennai)

..... by the bar. in our opinion, the authorities have no application whatsoever to the facts and circumstances of this case. the above authorities are dealing with cases arising under the income-tax act and nowhere it is stated that instructions contrary to the provisions of law could be given to a quasi-judicial authority, which would be binding on them. on the other ..... that they are obeyed and carried out. the learned counsel further urged that if the instructions, though administrative in nature, are given to the advantage of the assessees under the income-tax act, they are binding on the authorities, whereas administrative instructions, which are not beneficial or favourable to the assessees, it is open to the assessees to question the same. we ..... referred to as the amnesty scheme, the central government decided that no penal action including prosecution should be initiated under the act against a person, if the possession of gold and ornaments is declared under the amnesty scheme offered by the income-tax department, even if the quantity of gold or ornaments had not been declared under section 16(7) of the gold ..... is specifically stated therein that "no penal action (including prosecution) may be initiated under the provisions of gold (control) act, 1968, against a person if the possession of the gold and gold ornaments is, declared under the amnesty scheme offered by the income-tax department, even if the quantity of gold or gold ornaments had not been declared under section 16(7) of .....

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Jan 06 1988 (HC)

Commissioner of Sales Tax Vs. Madhu Chemical Works

Court : Allahabad

Decided on : Jan-06-1988

Reported in : [1988]71STC421(All)

..... the act the sales tax officer is not required to record his reason for his belief before taking proceedings. what is required is that the assessing authority must be objectively ..... 1 scr 10 this court laid down that the expression 'has escaped assessment' in section 34(1)(b) of the indian income-tax act, 1922, is applicable not only where the income has not been assessed owing to inadvertence or oversight or owing to the fact that no return has been submitted, but also where a return has been submitted ..... has, for any reason, escaped assessment to tax for some year...reasonable grounds necessarily postulate that they must be germane to the formation of the belief regarding escaped assessment...the belief must be held in good faith and should not be a mere pretence.13. unlike, as required in the corresponding provisions of the income-tax act for initiating proceedings under section 21 of ..... proceed under section 21 of the act. for this statement of law the court referred to a decision of the supreme court in anandji haridas and co. (p.) ltd. v. s.p. kushare [1968] 21 stc 326 and relied on the observations which were to the following effect:in maharaj kumar kamal singh v. commissioner of income-tax, bihar and orissa [1959] supp .....

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Jan 07 1988 (HC)

Commissioner of Income-tax Vs. Escorts Employees' Welfare Trust

Court : Delhi

Decided on : Jan-07-1988

Reported in : [1989]175ITR105(Delhi)

..... 1. these two application under section 256(2) of the income-tax act, 1961, pertain to the assessment years 1979-80 cand 1980-81, respectively. the petitioner prays herein that we direct the tribunal to draw up a statement of case ..... taxed at a rate applicable to an association of persons and not at the flat rate of 65 per cent. as held by the income-tax officer ?' 5. the applications are disposed of. there will be no order as to costs. ..... 28,00,000 received by the assessed in the assessment year 1979-80 and rs. 72,50,000 received in the assessment years 1980-81 did not constitute income liable to tax 2. whether, on the facts and in the circumstances of the case, the tribunal is correct in holding that the assessed ought to be ..... private discretionary trust which is for the benefit of the employees of escorts ltd., which is the contributor, whereas the case of cit v. eternal science of man's society : [1981]128itr456(delhi) is that of a charitable trust. in any case, we are of the opinion that in order to ..... st.) 12). 3. mr. bishamber lal has strenuously argued that the present applications should be rejected as question no. 1 is squarely covered by a decision of this court in cit v. eternal science of man's society : [1981]128itr456(delhi) and the answer to question no. 2 is self-evident. 4. the present case pertains admittedly to a .....

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Jan 07 1988 (HC)

M.P. State Mining Corporation Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Decided on : Jan-07-1988

Reported in : [1988]170ITR459(MP)

..... the following question to this court for its opinion under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act') :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the reference made by the income-tax officer to the inspecting assistant commissioner under section 144b was valid and the assessment made by ..... aforesaid finding recorded by the tribunal is essentially a finding of fact and on that finding, it cannot be said that the reference made under section 144b of the act by the income-tax officer was improper. we accordingly find no good ground for holding that the finding of the tribunal that the assessment was not barred by time is invalid.4. in ..... should have been completed by march 31, 1979, they were actually completed by the income-tax officer on april 23, 1979, after a reference to the inspecting assistant commissioner under section 144b of the act. it has not been disputed that if the reference under section 144b of the act was proper, then the assessment, as made on april 23, 1979, would be within ..... limitation. what has, however, been urged is that the addition made to the income of the assessee by the income-tax officer was actually less than rs. one lakh, but was erroneously shown to be more .....

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