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Judgment Search Results Home > Cases Phrase: trade marks Court: income tax appellate tribunal itat cochin Year: 1992 Page 1 of about 12 results (0.106 seconds)

Apr 26 1992 (TRI)

income-tax Officer Vs. Hindustan Latex Ltd.

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Apr-26-1992

Reported in : (1992)42ITD325(Coch.)

..... , or the imparting of information outside india in respect of, any data, documentation, drawing or specification relating to any patent, invention, model, design, secret formula or process or trade mark or similar property, if such income is payable in pursuance of an agreement made before the 1st day of april, 1976, and the agreement is approved by the central government ..... capital gains' for (i) the transfer of all or any rights (including the granting of licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property; (ii) the imparting of any information concerning the working of, or the use of, a patent, invention, model, design, secret formula or process or ..... trade mark or similar property; (iii) the use of any patent, invention, model, design, secret formula or process or trade mark or similar property; (iv) the imparting of any information concerning technical, industrial, commercial or scientific knowledge, experience or skill; (v) ..... royalty and technical fees.this argument too must be rejected. for two reasons. neither clause (vi) nor (vii) authorises such an allocation or apportionment. (notice that this is in marked contrast to the provisions of explanation (a) to clause (i) of section 9(1). further, when the activity of deputing technical personnel (which, in the illustration, is incidental to .....

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Nov 12 1992 (TRI)

iritty Trading Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Nov-12-1992

Reported in : (1993)45TTJ(Coch.)439

..... issued by the asstt. commissioner to m/s. kerala supari centre, is as follows : "sub : income-tax assessment in the case of m/s. iritty trading co., cherootty road, calicut - regarding during the course of examination of the books of accounts and other details filed by the aforestated assessee of mine, it is ..... period and, therefore, there was nothing wrong in his taking into account the sales made during the year in the book results by recasting the trading account in order to compute the true profits of the appellant in terms of s. 145(1) of the it act. the appellants plea that its ..... of the consignee. then he referred to the details of the bills discounted with the bank in respect of the consignments to m/s. iritty trading co. he also referred to the practice of getting telegraphic transfers from the consignees now and then. this latter amount is again adjustable in case ..... resort to an estimate on the basis of the despatch turnover of the goods on consignment. his grievance was that the revenue had recast the trading account after discarding the method of accounting adopted by the appellant. this has resulted in an abnormal assessments for the impugned assessment year leading to ..... is "not according to law; nor according to the primary principles of accountancy". thus, he rejected the explanation of the assessee and recast the trading account by deleting from the closing stock the quantity and value in respect of the arecanut sold during the year by the consignees and in turn .....

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Aug 06 1992 (TRI)

income-tax Officer Vs. Jnanodayam Sabha

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Aug-06-1992

Reported in : (1993)46ITD216(Coch.)

1. this appeal by the revenue relates to the assessment year 1976-77 for which the relevant previous year ended on 31-3-1976.2. the assessee is a charitable trust known as 'jnanodayam sabha'. the assessee filed a return of income on 20-12-1980 claiming exemption under section 11 of the act. the assessing officer noticed that there was an excess of income over expenditure of rs. 1,01,607. the details of income and expenditure are as under:-income & expenditure statement rs. 1,01,607less : coconut sales r ld. ,543palm leaves sales rs. 73refund from court r ld. ,401 ----------add : donations rs. 2,836 murder case exps. rs. 7,000temple expenses rs. 28,721 rs. 38,557 the income-tax officer treated the expenditure on donation and temple expenses as application of income for charitable purposes. as regards the balance of rs. 97,590, the assessee claimed that following loans were given:- before the income-tax officer, the assessee took the contention that these loans were to be treated as application of income for charitable purposes and since the entire excess of income over expenditure had been applied for charitable purposes, there was no income to be assessed. the income-tax officer rejected this contention of the assessee. according to him the loans cannot be treated as application of income for charitable purposes. he was of the view that the assessee had not complied with the provisions of section 11 (2) of the act, since 75% of the income was not applied for charitable .....

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May 31 1992 (TRI)

Southern Cables and Engineering Vs. Income Tax Officer.

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : May-31-1992

Reported in : (1993)45TTJ(Coch.)300

..... as such the case is clearly distinguishable and the decision in that case will not help the assessee in any way.21. coming to the case of cit vs. saraf trading corpn. (supra) the learned departmental representative distinguished the case on the facts that in this case relied upon by the assessee the honble high court held that levying of penalty ..... . in the result the ito disallowed the claim of the assessee to the balance of rs. 3,63,457 i.e., rs. 5,64,609 (rs. 1,99,319 a marking fee of rs. 1,833). as the proposed dealings exceeded rs. 1 lakh the matter was referred to iac and vide his order f. no. 2/gen/mat(a)(11 ..... under the bona fide belief.therefore, the proviso to expln. 1 is also of no help to the assessee.similarly, the kerala high court decision reported in cit vs. saraf trading corporation (1987) 167 itr 909 (ker) and cit vs. shri pawan kumar dalmia (1987) 168 itr 1 (ker) will not be of any help to the appellant as the ito .....

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Jun 04 1992 (TRI)

Joseph Michael and Bros. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Jun-04-1992

Reported in : (1992)43ITD131(Coch.)

..... know that many of the vouchers like the case of the contractors are not capable of being verified especially in arrack and toddy business. it is normal practice in this trade not to issue sales bills for the sales made. it is also a normal practice that no day-to-day stock registers will be maintained. these defects are very well .....

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May 29 1992 (TRI)

Controller of Estate Duty Vs. Dr. (Mrs.) Mary Cherian

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : May-29-1992

Reported in : (1992)42ITD427(Coch.)

1. this appeal by the revenue is directed against the order of the controller of estate duty (appeals) deleting an addition of rs. 6,70,000 lying in the n.r.e. account of the deceased on the ground that the deceased was domiciled in bahrain. the grievance of the revenue is that the first appellate authority ought to have found that the deceased was a married woman and, therefore, she could not have an independent domicile other than that of her husband.2. dr. (mrs.) mary cherian passed away on 16-10-1981. the accountable person at the time of filing the statement of accounts stated that the deceased was domiciled in bahrain. in support of his claim the accountable person filed before the assistant controller of estate duty a letter dated 16-9-1979 written by the deceased from bahrain to her husband wherein she has specifically and categorically expressed her desire that she had decided to adopt the domicile of bahrain and settle down in bahrain permanently. it was also stated that the change of domicile was also prompted by reason of her terminal illness and the medical practice she had established. the claim of the accountable person was rejected by the learned assistant controller of estate duty vide para 2 of his order observing as under: the deceased was an indian passport holder and a citizen of india. her husband and children are living in india. she has not acquired any immovable property outside india. the only evidence produced by the accountable person is a letter .....

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Nov 12 1992 (TRI)

iritty Trading Co. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Nov-12-1992

Reported in : (1993)44ITD369(Coch.)

..... apex court was concerned with the valuation of closing stock and found:-- that any system of accounting which excluded, for the valuation of stock-in-trade, all costs other than the cost of raw materials for the goods-in-process and finished products, was likely to result in a distorted picture ..... issued by the assistant commissioner to m/s. kerala supari centre, is as follows: sub:-- income-tax assessment in the case of m/s. iritty trading co., cherootty road, calicut- regarding - during the course of examination of the books of accounts and other details filed by the aforestated assessee of mine, ..... of the consignee. then he referred to the details of the bills discounted with the bank in respect of the consignments to m/s. iritty trading co. he also referred to the practice of getting telegraphic transfers from the consignees now and then. this latter amount is again adjustable in ..... resort to an estimate on the basis of the despatch turnover of the goods on consignment. his grievance was that the revenue had recast the trading account after discarding the method of accounting adopted by the appellant. this has resulted in an abnormal assessment for the impugned assessment year leading to ..... is "not according to law; nor according to the primary principles of accountancy". thus, he rejected the explanation of the assessee and recast the trading account by deleting from the closing stock the quantity and value in respect of the arecanut sold during the year by the consignees and in turn .....

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May 29 1992 (TRI)

Controller of Estate Duty Vs. Late Dr. (Mrs.) Mary Cherian.

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : May-29-1992

Reported in : (1993)46TTJ(Coch.)98

this appeal by the revenue is directed against the order of the ced(a) deleting an addition of rs. 6,70,000 lying in the n.r.e. account of the deceased on the ground that the deceased was domiciled in bahrain. the grievance of the revenue is that the first appellate authority ought to have found that the deceased was a married woman and, therefore, she could not have an independent domicile other than that of her husband.2. dr. (mrs.) mary cherian passed away on 16th oct., 1981. the accountable person at the time of filing the statement of accounts stated that the deceased was domiciled in bahrain. in support of his claim the accountable person file before the asstt. ced a letter dt.16th sept., 1979 written by the deceased from bahrain to her husband wherein she has specifically and categorically expressed her desire that she had decided to adopt the domicile of bahrain and settle down in bahrain permanently. it was also stated that the change of domicile was also prompted by reason of her terminal illness and the medical practice she had established. the claim of the accountable person was rejected by the learned asst. ced vide para 2 of his order observing as under : "the deceased was an indian passport holder and a citizen of india. her husband and children are living in india. she has not acquired any immovable property outside india. the only evidence produced by the accountable person is a letter written by the deceased before her death. in this connection it is to be .....

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Sep 21 1992 (TRI)

Kesaria Tea Co. Ltd. Vs. Income Tax Officer (Also Income

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Sep-21-1992

Reported in : (1993)46TTJ(Coch.)43

..... exclusively for maintaining an agency outside. this argument is not impressive. the word agency used in the section has acquired a clear and definite meaning both under law and in trade. the same meaning shall be attributed to the word in the section and not the meaning suggested by counsel for the revenue. it is all the more so because the ..... a sum of rs. 24,728 was debited as pepper vaida. the ito was of the view that this was the net loss suffered by the assessee in pepper forward trade. hence, he requested the assessee to file a note on the expenditure under pepper viada. it was also suggested to the assessee that the expenditure is in the nature of .....

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Jun 24 1992 (TRI)

Mrs. Bava Cherian Vs. Income Tax Officer.

Court : Income Tax Appellate Tribunal ITAT Cochin

Decided on : Jun-24-1992

Reported in : (1993)45TTJ(Coch.)357

this is appeal by the assessee against the order of the cit, trivandrum, passed under s. 263 of the it act, 1961, relating to the asst. yr. 1981-82, for which the accounting period ended on 31st march, 1981. the assessee is an individual. while completing the assessment, the assessing officer allowed retrenchment compensation of rs. 1,22,900 paid to the employees as expenditure in arriving at the capital gains in connection with the transfer of cinema theatre. on verification, the cit took the view that the retrenchment compensation being a business expenditure, it should not have been allowed as an expenditure incurred for the transfer of a capital asset. hence, he was of the view that the deduction allowed by the assessing officer was wrong, erroneous and prejudicial to the interest of the revenue. therefore, he issued a show-cause notice to the assessee calling for her objection in rectifying the error by withdrawing the deduction. the assessee opposed the proposed rectification. according to her the retrenchment compensation payable to the employees has been rightly allowed as an expenditure incurred wholly and exclusively in connection with the transfer of the cinema theatre. it was further contended that the asset transferred was a business asset and the liability was fastened to the asset and the discharge of the liability was a condition precedent for the completion of the transfer of the asset, and relied on the following decisions : the learned cit did not accept .....

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