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Judgment Search Results Home > Cases Phrase: trade marks Court: income tax appellate tribunal itat pune Year: 1992 Page 1 of about 11 results (0.090 seconds)

Aug 31 1992 (TRI)

Asstt. Commissioner of Vs. J.N. Marshall (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Aug-31-1992

Reported in : (1993)44ITD83(Pune.)

..... tax act, 1922. it was held that under the agreement, the assessee did not become entitled exclusively even for the period of agreement of 5 years to the patents and trade marks of the swiss company and had merely access to the technical knowledge and experience in the pharmaceutical field which the swiss company commanded. the assessee was held to be a ..... mere licensee for a limited period of the technical knowledge of the swiss company with the right to use the patents and trade marks of that company. what the assessee acquired under the agreement was merely the right to draw, for the purpose of carrying on its business as a manufacturer and dealer of .....

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Dec 11 1992 (TRI)

income-tax Officer Vs. Poonawala Estate Stud and

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Dec-11-1992

Reported in : (1993)44ITD497(Pune.)

..... method of accounting and samvat year as the accounting year. upto the assessment year 1984-85 the assessee considered all the horses as the stock-in-trade. for the assessment year 1985-86, the assessee considered the mares and the stallions used for breeding purposes as plant. accordingly, the assessee transferred value ..... stud firm horse, i.e., race horse, is highly priced. such breeding stallions and mares constituted fixed assets or capital asset, but not stock-in-trade, because they were used for the purpose of breeding and rearing only. according to him, nothing is produced, but the breeding is manipulated. breeding mares and ..... "plant" is very wide to include even books. any tool or device with which the business is carried on is plant not being stock-in-trade provided it is durable. therefore, he wondered why a special bench has been constituted for this purpose. even the decision rendered by the special bench in ..... has been provided in section 36(l)(vi) of the act in respect of animals used for the purposes of business which are not stock-in-trade and which are capital assets used in the business. no intention to grant double deduction, one under section 32 and the other under section 36( 1 ..... laid down at page 96, the functional test, namely, does the article fulfill the function of a plant in the assessee's trading activity and is it a tool of his trade with which he carried on his business? this functional test was duly considered by the special bench in the case of ruia stud .....

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Apr 10 1992 (TRI)

Joshi and Sahney Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Apr-10-1992

Reported in : (1992)42ITD122(Pune.)

..... in with a view to earn profit, vide decision of the karnataka high court in the case of shankar construction co. (supra). in the case of cit v. trade corpn. [1981] 130 itr 739 the bombay high court held that the system of computer machines perform various functions and therefore, data processing machines could not be classified as office .....

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Jan 16 1992 (TRI)

Shri Chatrapati Sahakari Sakhar Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Jan-16-1992

..... intact, in the latter case, the deposit gets consumed. it is the latter deposit that was considered by the supreme court as amounting to a trading receipt. "trading receipt" means assessee's own money-which can be put to any use. this distinction has, therefore, to be borne in mind. the distinction ..... bye-law did not provide for payment of interest whereas the bye-law of the assessee provided for the payment of interest. there is a marked distinction which shows that the deposits were to be treated not as a loaned money or loan capital till it is adjusted towards capital and, ..... these deposits are not to be regarded as substituting one creditor by another. again, on the premise that deposits are to be regarded as trading receipts, this argument also cannot be accepted for the reason that what in practice happened was that the amount collected or, to put it very ..... meantime, interest for the deprivation of the use of the money. the amount retained, therefore, assumes the character of a loan rather than of a trading receipt. so, the mere linkage to the purchase price is not, therefore, determinative of the character of the deposit.13. the learned departmental representative next ..... the deductions were made but for discharging the liabilities of the respondent-society. in these circumstances, the receipts constituted by these deductions were really trading receipts of the assessee-society and are liable to be included in its taxable income." 7. the manner in which the deposits were to be .....

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Sep 14 1992 (TRI)

Controller of Estate Duty Vs. D.G. Cooper

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Sep-14-1992

Reported in : (1993)44ITD481(Pune.)

1. this is an appeal by the revenue which is directed against the order of the appellate controller of estate duty, pune, dated 29-2-1988, wherein he has determined the valuation of the property at 3, queen's garden, pune, at rs. 7.56 lakhs as against rs. 9.15 lakhs determined by the asstt. controller of estate duty. in valuing the said property, the appellate controller of estate duty applied rule 1bb of the wealth-tax rules, allowed repairs at the rate of 17 per cent as against 10 per cent allowed by the valuation officer and the open vacant land was valued at re. 1.00 per sq.ft. as against rs. 2.00 per sq. ft.determined by the departmental valuation officer. the revenue has taken specific grounds against the aforesaid decisions of the appellate controller of estate duty and urged that the order of the appellate controller of estate duty may be vacated and that of the assistant controller of estate duty be restored.2. the relevant facts are as follows : shri d.g. cooper passed away on 5-8-1980. the accountable person filed estate duty account in which, inter alia, he returned the value of property at 3 queen's garden, pune, at rs. 1,84,000. the valuation shown was not accepted by the assistant controller. he referred the matter to the departmental valuation officer who determined the value of the property as per the land and building method at rs. 9.15 lakhs. after calling for objections of the accountable person, if any, to the proposal for adoption of the said valuation .....

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Dec 01 1992 (TRI)

Wallace Pharmaceuticals Ltd. Vs. Second Surtax Officer.

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Dec-01-1992

Reported in : (1993)45TTJ(Pune.)659

this is an appeal by the assessee which is directed against the order of the cit(a) belgaum dt. 16th september, 1988 wherein, inter alia, he has observed that the provision for taxation was found to be excess and therefore, it was written back. consequently, he held that such excess provision did not go to increase the reserve so as to form capital of the company. therefore, he has rejected the claim of the assessee for including the excess provision for tax as part of capital. the assessee is in appeal against the impugned order of the cit(a) urging that the cit(a) erred in this decision and he ought to have included rs. 4,31,964 in the computation of capital.2. while computing the surtax liability of the assessee, a company, for the asst. yr. 1984-85 for which the accounting year ended on 29th february, 1984, the assessing officer reduced the general reserve by an amount of rs. 4,31,964 representing excess provision for tax made by the assess on the ground that it has been written back during the year ended 9th february, 1984 and it was included in the provision for taxation as on 1st march, 1983.3. on appeal, the cit(a) purported to follow the judgment of the supreme court in the case of vazir sultan tobacco co. ltd. vs. cit (1981) 132 itr 559 (sc) and upheld the order the assessing officer on the view that the supreme court has held that the provision reasonably necessary should be treated as reserve and in the case of the assessee, the provision made was excessive and .....

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Mar 20 1992 (TRI)

income-tax Officer Vs. India Woollen Emporium

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Mar-20-1992

Reported in : (1993)44ITD225(Pune.)

1. the revenue has filed all these appeals against the consolidated order of the cit (appeals) pune dated 2-8-1988 on four common grounds.all the common grounds are in respect of only one point of deleting the interest levied under section 201(1a) of the income-tax act, 1961. the ito levied the interest of rs. 9,247 for the assessment year 1983-84, rs. 7,881 for the assessment year 1984-85, rs. 6,220 for the assessment year 1985-86 and rs. 4, 197 for the assessment year 1986-87 under appeals, on the ground that the assessee firm paid interest of rs. 1,69,000, rs. 1,74,960, rs. 1,75,990 and rs. 1,78,010 for the aforesaid assessment years respectively to m/s bhopatkar finance corporation. he further found that the assessee had deducted only rs. 3,200 at source for each of the assessment years under appeals and the assessee had failed to deduct the interest at source in accordance with the provisions of section 194a of the income-tax act, 1961.2. therefore, the ito issued a show-cause notice to the assessee. the assessee stated that the income of m/s bhopatkar finance corporation was all along below rs. 50,000 and the said m/s bhopatkar finance corporation had applied for lower deduction of tax to the ito t ward, pune. a deduction of rs. 3,200 was made at the request of m/s bhopatkar finance corporation only. it was also explained that there was no wilful default on the part of the assessee and it was purely due to a technical misunderstanding the lower amount of tax was .....

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Oct 09 1992 (TRI)

R.K. Agarwal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Oct-09-1992

Reported in : (1993)47ITD596(Pune.)

1. the appellants have filed these appeals against the separate orders of the dy. cit(a), pune, dated 29-11-1991 on the common ground that the dy. cit(a) erred in upholding the status of the appellants as aops as against the status of an huf.2. i have heard the learned counsel for the appellants shri g.d.gargieya and the learned departmental representative, shri a.k.khaladkar. their arguments relating to the factual as well as legal aspects are taken into consideration.3. mr. rajkumar bansilal agarwal married to mrs. ami agarwal. they have two minor sons bharat and sharad. for the sake of brevity the huf consisting of rajkumar bansilal agarwal, his wife ami agarwal and his two minor sons bharat and sharad would be hereafter called as bigger huf. mr rajkumar b. agarwal is the karta of bigger huf. he has allegedly created other five more hufs and treated himself as karta of other alleged hufs. those hufs are as follows :1. ami bharat agarwal (huf) (a) rajkumar bansilal agarwal, karta (b) mrs. amita rajkumar agarwal2. ami sharad agarwal (huf) (a) rajkumar bansilal agarwal, karta (b) mrs. amita rajkumar agarwal3. sharad bharat agarwal (huf) (a) rajkumar bansilal agarwal, karta (b) master sharad r. agarwal4. r.k. sharad (a) rajkumar b. agarwal, karta (b) master sharad r. agarwal5. r.k. bharat agarwal (huf) (a) rajkumar b. agarwal, karta (b) master bharat r. agarwal6. r.k. agarwal (huf) (a) rajkumar b. agarwal,1 karta (b) mrs. amita r. agarwal.4. the concept of an huf under the .....

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Feb 17 1992 (TRI)

inspecting Assistant Vs. Nasik Eggs Enterprises

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Feb-17-1992

Reported in : (1992)42ITD105(Pune.)

..... book. the statement of shri jayantkumar s. shah confirming the loan with account copies is at page c-14 and 15. the statement of shri popatlal shah, proprietor of pritesh trading co.dated 12-2-1985 is at page 16. the statement of shri krishnakant anantrao parekh dated 25-3-1985 confirming that he has arranged finances from 48 parties for ..... the case of vip industhes ltd. (supra) is no longer a good law. referring to the decision of the supreme court decision in the case of indo-aden salt mfg. & trading co.(p.) ltd. v. cit [1986] 159 itr 624 it was contended that if some material for assessment lay embedded in the evidence which the revenue could have uncovered but ..... -1987 determining the total loss at rs. 49,380. the basis for coming to this conclusion is confessional statement given by shri c.v. jain, proprietor of m/s mahavir trading co. made before the second ito c-iii ward, bombay on 1-10-1985 which has been communicated through letter dated 11-11-1985 by iac c-iii range, bombay .....

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Apr 07 1992 (TRI)

Nemco Enterprises Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Apr-07-1992

Reported in : (1993)46TTJ(Pune.)110

..... application because the assessee failed to furnish the audit report alongwith the return of income as required by sub-s. (5) of s. 32ab. he also observed that even the trading and profit and loss account and balance sheet filed alongwith the return did not indicate that these have been audited and examined with reference to the books of accounts.5 .....

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