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Judgment Search Results Home > Cases Phrase: indian partnership act Court: delhi Year: 1991 Page 3 of about 22 results (0.048 seconds)

Sep 26 1991 (TRI)

Sohan Lal Vs. Collector of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : Sep-26-1991

Reported in : (1992)(59)ELT431TriDel

..... to hire b-38, nizamuddin west, or to purchase goods worth rs. 3.84 lakhs, which were recovered from those premises. he further stated that the indian currency worth rs. 50,000/- seized from the appellant's residence was not released to him, but was taken over by the income tax authorities under ..... the time of search, the goods recovered from all the four places were seized under the customs act.4. the appellant, in his statement, stated that since 1983 he has been doing business of blank video cassettes in partnership with his brothers-in-law at shop no. 257, palika bazaar under the name and style ..... consisting of video cassette (national 300 along with a remote control) of japan origin valued at rs. 4200/-, 3 empty cartons of vcr model nv 300 and indian currency amounting to rs. 50,000/- and some documents.the search of b-38, nizamuddin west, rented out in the name of shri rajesh suneja, brother ..... of doubt. the circumstances do indicate that the appellant was found in possession of foreign goods which were notified goods under chapter iva of the customs act and in respect of which he had contravened the provisions of law.11. the facts on record show that 7 video cassette sets along with 7 ..... the principles of natural justice, the impugned order confiscating the goods seized from all the four places under sections 111(d) and 111(p) of the customs act, 1962 was passed and a penalty of rs. 50,000/- was also imposed on the appellant.6. shri m. ganesan, the learned advocate, for the .....

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Mar 21 1991 (TRI)

Escorts Electronics Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Mar-21-1991

Reported in : (1991)37ITD402(Delhi)

..... us in which admittedly no business whatsoever was carried on by the assessee during the year under consideration.the hon'ble supreme court was dealing with a case of a partnership which continued from year to year and the only difference was that while in the earlier years, to which the unabsorbed depreciation related, it was assessed as an unregistered firm ..... to which the unabsorbed depreciation relates nor any other business of the assessee was in existence during the year under consideration. on behalf of the revenue reliance was placed on indian bank ltd. v. cit [1985] 152 itr 557, tube suppliers ltd. v. cit [1985] 152 itr 694 and east asiatic co. (india) (p.) ltd. v. cit [1986] 161 itr 135 ..... business cannot be deemed to be in existence for other purposes of the act and the fiction created by the explanation to section 41(2) is only for the purpose for which it had been created and this fiction cannot be extended beyond the ..... depreciation of earlier years which the assessee claimed to be set off against other income, which included income amounting to rs. 49,802 determined under section 41(2) of the act. the hon'ble high court held that unabsorbed depreciation of earlier years cannot be set off against income from other sources and that by virtue of section 41(2) the .....

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