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Sep 29 1981 (TRI)

Gujarat Oil and Allied Industries Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)2ITD454(Ahd.)

1. The assessee in this case has claimed weighted deduction under Section 35B of the Income-tax Act, 1961 ('the Act'). The first claim is in respect of brokerage paid on sales outside India. The I TO has disallowed it and the Commissioner (Appeals) has also disallowed the same on the ground that the assessee's representative was not able to produce any evidence before him to show that the brokerage had been paid in respect of services rendered outside India by the person concerned. Before us the assessee had produced a copy of the letter dated 7-3-1979 written by him to the ITO, therein he had stated that for the purpose of the export business he had to engage a commission agent who did the work in connection with the export of goods such as (i) finding out the buyers from foreign countries, (it) getting information regarding market and rate, (Hi) preparing of tenders and contract, (iv) shipment work, and (v) fixing the date of shipment. He has also stated to us that he had produced b...

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Sep 22 1981 (TRI)

Anilkumar Chhotelal Patel Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)1ITD511(Ahd.)

1. The assessee is an individual. He is a director in Sayaji Iron & Engg. (P.) Ltd. and Sayaji Iron Works Quarry (P.) Ltd. and is in receipt of salary from these concerns. The ITO during the course of assessment proceedings noticed that the company while issuing salary certificate, had not included the value of car perquisite. The assessee was not having his own car but he was provided with a car by the said companies. Thus the ITO valued the perquisite in accordance with Rule 3(c)(vi) of the Income-tax Rules, 1962 ("the Rules ), at Rs. 5,400. He was also of the view that since the assessee is in receipt of perquisite from the above concerns, the standard deduction under Section 16(i) of the Income-tax Act, 1961 ("the Act"), should be restricted to Rs. 1,000. Accordingly, assessment was completed on 30-12-1978 on a total income of Rs. 94,615.2. The assessee, being aggrieved with the order of the ITO, took up the matter in appeal and, inter alia, submitted that the employer, namely...

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Sep 01 1981 (TRI)

New Indian Textile Products Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)1ITD837(Ahd.)

1. The assessee, a private limited company, is in appeal for the assessment year 1976-77. All the grounds of appeal relate to its business activity of film exhibition. It ran "Deepali Cinema" for that purpose. The accounting year followed was calendar year 1975. The various grounds raised in this appeal are separately considered below : 2. The first contention relates to not granting of development rebate and depreciation on a sum of Rs. 17,849, which represented expenditure in the nature of pre-operative expenditure incurred before the air-conditioning plant and machinery of the cinema theatre were commissioned as per the assessee's own statement in ground of appeal No. 3. Shri J.P. Shah, the assessee's authorised representative, filed before us details of the expenditure of Rs. 17,849 classified under various heads, namely, octroi, freight, cartage, miscellaneous expenses, licence fees, advertisement, postage, telephone and telegram and insurance premium. According to him, the Commi...

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Aug 20 1981 (TRI)

Jamnagar Motor Truck Owners Vs. Income Tax Officer.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)2ITD402(Ahd.)

Per Shri D. D. Vyas, Judicial Member - This is an appeal by the assessee ascertaining to the assessment year 1976-77. The assessee is an AOP. For the previous year relevant to the assessment year under consideration, it filed the return on 30-7-1976 declaring income of Rs. 59,024. It derives income from the same way as in the past.2. In the previous year relevant to the assessment year, assessee received membership fee to the tune or Rs. 9,102. Before the ITO, the assessee took the stand that it is a mutual association formed to guard and protect their interest. The sources of income are from membership subscriptions, donations and bank interest. It was submitted that the membership fee is not liable to tax on principle of mutuality. It was also pointed out that subscription fee is a charge on members, a condition precedent to becoming a member, and not income from its specific services performed. Thus, it was claimed that the subscription fee received from the members was not liable ...

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Aug 11 1981 (TRI)

Smt. Kamal K. Parikh Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)1ITD597(Ahd.)

1. These appeals are by the assessees, namely, Smt. Kamal K. Parikh, Shri Ashok K. Parikh and Shri Arun K. in respect of the assessment years 1976-77 and 1977-78. The point in issue in all the appeals is the same. So all the appeals were heard together and for the sake of convenience are being disposed of by a common order.2. Smt. Kamal K. Parikh, Shri Ashok K. Parikh and Shri Arun K. Parikh (assessees) held certain shares of Mehta Parikh & Co. (P.) Ltd. on the valuation dates, relevant to assessment years 1976-77 and 1977-78. The said shares were valued by the assessees at Re. 1 per share as according to the assessees the liabilities of the company were more than the assets as per the balance sheet of the said company. The WTO accepted such valuation.3. The learned Commissioner after going through the records found that the WTO while working out the break-up value of the shares considered the provision of taxation for calculation without deducting the advance tax already paid bef...

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Jun 29 1981 (TRI)

Gujarat Narmada Valley Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)2ITD515(Ahd.)

1. The assessee is a limited company jointly promoted by the Government of Gujarat and the Gujarat State Fertilizer Co. Ltd., for the purpose of implementing a fertilizer complex at Narmada Nagar in Broach District. There are two main processing plants one for ammonia and another for urea, and there are various offsite plants dealing with the provisions of water, power, stems, etc. The company entered into various contracts with Linde of West Germany (Linde) for the ammonia plant and with Snamprogetti (S.P.) for the urea plant, the offsite plants being engineered and worked by Indian parties. Under the directions of KFW, the German Bank acting as financier, a consortium agreement was entered into between the assessee, Linde and S.P. for purpose of technical co-ordination between the various participants and, thereunder, Linde was appointed as consortium leader. The obligations of Linde for the above purpose were incorporated in a consortium agreement entered into between Linde, GSFC a...

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Jan 07 1981 (TRI)

L.J. (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)1ITD529(Ahd.)

1. The assessee has filed these three appeals for the assessment years 1974-75 to 1976-77 from the common order of the Commissioner (Appeals) dated 29-9-1979.2. The assessee claimed the following payments on account of remuneration and bonus to the managing director, M.L.G. : Assessment year Salary Rs. 1974-75 27,340 1975-76 62,550 1976-77 62,785 3. M.L.G. became the managing director of the assessee-company after his father passed away on 7-9-1972. The accounting period for the assessment years 1975-76 and 1976-77 ended on 31-3-1975 and 31-3-1976, respectively. The remuneration of the managing director in the assessment year 1973-74, i.e., in the year in which the father of M.L.G. died, was Rs. 1,000 per month. This continued even in the assessment year 1974-75 till 13-9-1973. From 14-9-1973 to 31-12-1973, it was raised to Rs. 1,500 per month and from 1-1-1974 it was raised to Rs. 4,000 per month.The ITO disallowed the following sums out of the remuneration paid by the assessee to th...

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