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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: income tax appellate tribunal itat mumbai Year: 1989 Page 1 of about 32 results (0.105 seconds)

Nov 27 1989 (TRI)

Mrs. Sunita Divecha Vs. Tenth Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Nov-27-1989

Reported in : (1990)32ITD531(Mum.)

..... 1. the only ground raised by the assessee in this appeal under the income-tax act for assessment year 1980-81 is that the income earned by a trust, of which the sole beneficiary was the assessee's son, master yash bharat divecha, should not have been taxed in the hands of the assessee.2. briefly to state the facts, after the assessment of the assessee ..... . in the rejoinder, the learned authorised representative for the assessee submitted that for subsequent year, namely, 1981-82, it is the trust which has been subjected to tax in respect of the commission income and not the assessee. on a query from the learned departmental representative that there is no proof to the fact that the assessee's assessment was not made ..... bharat divecha. the said commission of rs. 38,000 was assessed in the hands of the assessee.3. when the matter came before the dy. cit(a), he confirmed the finding of the ito adding the income of rs. 38,000 on account of commission earned by yash trust from m/s. industrial tube manufacturing company.4. the learned authorised representative for ..... the real state of affairs having not been discharged by the revenue, the aac's orders were upheld.in the light of the above three decisions, the commission income of rs. 38,000 ought to have been subjected to tax in the hands of the trust and not in the hands of the assessee. i, accordingly, reverse the action of the dy .....

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Oct 16 1989 (TRI)

income-tax Officer Vs. Abbott Laboratories (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Oct-16-1989

Reported in : (1989)31ITD183(Mum.)

..... the expression 'any period of his employment outside india' used in sub-clause (i) of clause (b) of section 40a(5) of the income-tax act, 1961, applies only to cases of employees posted either temporarily or permanently abroad or whether it covers also the cases of employees who merely go ..... t.o. finalised the assessment, wherein he had disallowed rs. 1,48,250 under section 40a(5)/40(c) of the act.6. in appeal before he commissioner of income-tax (appeals) the assessee once again urged that proportionate salary/perquisite paid to the aforesaid two employees, during the period they were outside ..... india, should not be considered for the purposes of working out disallowance under section 40a(5) of the act. the c.i.t.(a ..... wholly stationed abroad. in this view of the matter i uphold the appellant's contention and accordingly direct the income-tax officer to exclude salary relating to the period during which the employees were outside india.7. being aggrieved by the action of the ..... . - (1) the provisions of this section shall have effect notwithstanding anything to the contrary contained in any other provision of this act relating to the computation of income under the head "profits and gains of business or profession. (i) incurs any expenditure which results directly or indirectly in the payment .....

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Sep 29 1989 (TRI)

inspecting Assistant Vs. E. Merck (i) (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Sep-29-1989

Reported in : (1989)31ITD509(Mum.)

..... correct to refer to the levy of such interest as a penalty. the expression "penal interest" has acquired uses but is in fact an inaccurate description of the levy. the income-tax act makes a clear distinction between the levy of penalty and other levies under the statute. interest is levied under section 215 because by reason of omission or default mentioned in ..... under section 18a or he could contend that the income calculated by the income-tax officer as income of the assessee for the relevant year was not the proper income and that there was no income at all or the income was less than the income calculated.the aforesaid case was under the 1922 act but the position under the income-tax act, 1961 would be the same inasmuch as section 215 ..... and section 246(c) of the 1961 act bear the same meaning of construction as they were ..... . the only dispute in this appeal is concerning the levy of interest under section 215 of the income-tax act, 1961. the following two grounds have been raised in this appeal: (1) on the facts and in the circumstances of the case and in law, the learned cit(a) erred in entertaining appeal against the ito's order levying interest under section 215 when .....

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Sep 29 1989 (TRI)

Rishi Gagan Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Sep-29-1989

Reported in : (1989)31ITD515(Mum.)

..... the burden lies upon the department to prove that whatever is received by a person is his income liable to tax is also not of any assistance. this decision was rendered by the hon'ble supreme court under the income-tax act, 1922 in which section 68 did not have any place. in the present case we are ..... concerned with the provisions of section 68 of the i.t. act, 1961 as stated in the earlier part of this order. reliance by ..... received a gift of rs. 10,04,762 from mrs. neelam mohan valrani at dubai on 3-1-1982. the donor is a non-resident. the income-tax officer, while completing the assessment accepted the gift as a genuine gift and observed as follows: during the year of account the beneficiaries have received gift from ..... the assessee against the order of the commissioner of income-tax, bombay, passed under section 263 of the act. the only grievance is that the provisions of section 263 should not have been invoked in the present case thereby set asiding the order passed by the income-tax officer and directing him to make a fresh assessment ..... account is obtained and kept on the record. copy of the account of central bank of india is obtained and kept on the record.2. the cit acting under section 263 was of the view that proper and full enquiries had not been made by the ito while accepting this gift and therefore, the .....

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Sep 22 1989 (TRI)

Third Income-tax Officer Vs. Nawab Iqbal Mohd. Khan of Palanpur

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Sep-22-1989

Reported in : (1989)31ITD396(Mum.)

..... under section 37. the cases relied upon by the aa.c., to some of which we have made reference, dealt with section 12(2) of the indian income-tax act, 1922, or section 57(iii) of the income-tax act, 1961. in our opinion, on the facts discussed above, the nexus between the expenditure on interest on the loans borrowed by the assessee from his wife ..... the deduction which is permissible under sub-section (2) of section 12 of the indian income-tax act, 1922, is an expenditure incurred solely for the purpose of making or earning the income which has been subjected to tax, and the dominant purpose of the expenditure incurred must be to earn income. the court further held that the connection between the expenditure and earning of the ..... and the income intended to be earned by incurring such expenditure has been established. firstly, this money was intended to be utilised for purchase of shares of shalimar biscuits ..... the company deteriorated, the assessee had to be relieved of the counter-guarantee. as a guarantor, the assessee faced the prospect of losing all his income earning assets if the dena insurance co. decided to act on the guarantee given by the assessee and made him pay for the losses of the company. by agreeing to deposit a sum of rs. 4 .....

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Sep 14 1989 (TRI)

Mohanlal Hargovinddas Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Sep-14-1989

Reported in : (1989)31ITD97(Mum.)

..... as a deduction for the assessment year 1970-71 and the claim was allowed by the assessing officer. the commissioner of income-tax, subsequently, took action under section 263 of the income-tax act, 1961 and after issuing a show-cause notice to the assessee and hearing it set aside the assessment and directed the ..... was a revenue expenditure. subsequently, the assessing officer disallowed the payment made for the assessment year 1975-76 at rs. 36,292. the commissioner of income-tax (appeals), following the earlier order of the tribunal for the assessment year 1971-72 and others, allowed the appeal of the assessee. the tribunal, ..... assessing officer to disallow the amount and accordingly to recompute the total income. in the assessment years 1971-72 to 1974-75, ..... order to share goodwill or receive any payment for the use of the goodwill. it is open to the contracting partners to stipulate whether the incoming partner will contribute anything for goodwill or the right of any partner will be restricted for sharing the goodwill. if there is no stipulation, ..... amount of rs. 30,000 per year paid to the retired partner sri parmanandbhai patel is a proper deduction in the computation of the total income of the firm? 4. shri dastur, the counsel for the assessee, filed a paper-book containing 38 pages. he has also filed a copy .....

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Sep 13 1989 (TRI)

Century Textiles and Industries Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Sep-13-1989

Reported in : (1990)32ITD454(Mum.)

..... 84 and 1984-85. the impugned order is that of the learned commissioner of income-tax, central i, bombay, which is common one for both the assessment years under appeal and has been made under section 263 of the income-tax act, 1961. the feedback of the fact is to the following effect :- on ..... orders for the assessment years under appeal on the above issues, viz. deduction allowable to the assessee under section 80j of the act with a direction to the income-tax officer to re-examine the question and decide the same according to law, of course, after affording the assessee a reasonable opportunity of ..... each unit has to be treated as a separate and distinct undertaking and, accordingly, on these findings, the common order of learned commissioner of income-tax cannot be upheld because the assessments framed in the case of the assessee were neither erroneous nor prejudicial to the interests of the revenue. the ..... the case of a company) of the capital employed in the industrial undertaking, ship or business of the hotel. rule 19 a of the income-tax rules, 1962 prescribed the manner of computation of the capital employed for this purpose. sub-rule (2) of rule 19a provided that the aggregate ..... of the same industrial undertaking'. the hon'ble high court was concerned with relief under section 80j and their lordships were interpreting rule 19a - income-tax rules - made thereunder, for work out of relief under section 80j.5. the said decision of the hon'ble jurisdictional high court has since .....

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Aug 30 1989 (TRI)

Trustees of the Estate of R.D. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Aug-30-1989

Reported in : (1989)31ITD359(Mum.)

..... before the debts were discharged and legacies paid. no doubt, this decision was given in the context of the provisions of the income-tax act. a similar decision was given by the calcutta high court in suhasini karuri v. wto [1962] 46 itr 953. in that case a will creating a trust in express terms ..... court held that the fact that the administrator of an estate continues to be liable or the executor continues to be liable for the income-tax liabilities of the estate of the deceased under section 168(3) of the income-tax act does not mean that the administration is not complete or that the administration had not reached such a point that it could be ..... inferred that the administration had been completed and the residuary estate had been ascertained. this was a decision under the income-tax act. a similar view was expressed by the madras high court in another decision under the wealth-tax act in the case of cwt v. s. prakasam [1980] 125 itr 772. the madras high court held that there is no invariable ..... will which had been applied towards the payment of monthly allowances to the various relations of the deceased would be liable to be taxed and the rest of the income was exempt under section 4(3)(i) of the indian income-tax act, 1922. in this case, the court held that the executors appointed under the will had in fact started functioning as trustees, even .....

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Aug 03 1989 (TRI)

Nadir B. Godrej Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Aug-03-1989

Reported in : (1990)32ITD271(Mum.)

..... regards the decision of the allahabad high court the same was in the context of section 254(2) of the income-tax act, it is seen that in the wealth-tax act there is no section which is parallel to section 254(2) of the income-tax act. section 254(2) is a specific section, which empowers the tribunal to rectify any mistake apparent from record and amend ..... of not much assistance in deciding this issue, as they deal with section 254(2) of the income-tax act, 1961 and not with the provisions of the wealth-tax act 4. in this connection, it is useful to refer to the provisions of the income-tax act, 1922. under the said act, the tribunal was to make a reference to the high court under section 66(1) of ..... wealth-tax act is given to the tribunal only under section 35(l)(e) of the ..... ). such an amending order would be an order under section 254 of the act and hence subject to the provisions of section 256(1) of the income-tax act. however, under the w.t. act no such similar provision exists under section 24 which is parallel to section 254(2) of the income-tax act. the power to rectify or amend an order under section 24 of the .....

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Jun 02 1989 (TRI)

Bbc Brown Boveri and Co. Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Jun-02-1989

Reported in : (1989)31ITD408(Mum.)

..... be erroneous or prejudicial to the interest of the revenue.1. these two appeals have been filed by the assessee against an order under section 263 of the income-tax act, 1961 passed by the commissioner of income-tax, bombay city-ii, bombay, for the assessment years 1975-76 and 1976-77 by which the commissioner had set aside the assessment orders passed by the ..... assessment year 1975-76 was completed after taking into consideration the instructions received from the inspecting assistant commissioner of income-tax, foreign companies range-i, bombay, under section 144a of the income-tax act, 1961 and also with the final approval under section 144b of the income-tax act, 1961. the assessment for assessment year 1976-77 was also completed in accordance with the directions of the inspecting ..... it necessary to decide the legal points raised by the assessee as to whether the commissioner can revise an assessment order passed by the income-tax officer in accordance with the directions given under section 144b of the income-tax act, 1961 by the inspecting assistant commissioner.7. in the result, the order passed by the commissioner under section 263 for both the years is .....

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