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Latest Cases Home > Latest Court: income tax appellate tribunal itat mumbai Page 198 of about 2,049 results (0.139 seconds)

Oct 22 1982 (TRI)

First Income-tax Officer Vs. Prem P. Tharanee

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD482(Mum.)

1. This appeal has been filed by the department against the order dated 16-2-1981 of the Commissioner (Appeals) relating to the assessment year 1975-76 The relevant previous year was the year ending 31-3-1975. the assessee is an individual deriving incojme from house property.2. During the previous year under consideration, on 3-7-1974, the assessee sold a flat in 'Cuffe Castle' held by him to Batliboi & Co.for Rs. 2,25,000. This flat had been earlier acquired by the assessee by an agreement dated 7-3-1969 with the builders before the multi-storeyed building was constructed. Subsequently, when the building was ready for occupation, the assessee had occupied the same in August 1971 in accordance with the terms of the original agreement dated 7-3-1969. The assessee calculated the capital gains on the sale of the flat and showed the same in the return. The ITO did not agree with the computation of capital gains returned by the assessee on two points. According to the assessee, the as...

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Oct 13 1982 (TRI)

income-tax Officer Vs. K.P. Goenka and Sons Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD343(Mum.)

1. This appeal has been filed by the department against the order dated 13-11-1980 of the Commissioner (Appeals), relating to the assessment year 1975-76, the previous year of which ended on 31-3-1975.2. The only ground taken in this appeal states that the Commissioner (Appeals) erred in allowing the deduction under Section 80G of the Income-tax Act, 1961 ('the Act'), on a donation made in kind.3. The assessee is a limited company. During the previous year under consideration, it made a donation of the premises situated at No. 53, Sir Hariram Goenka Street, Calcutta. The value of the premises was admittedly Rs. 44,124. The ITO refused to allow the deduction under Section 80G on the ground that the donation was in kind. According to him, unless the donation was in cash, it is not eligible for relief under Section 80G. Hence, he declined to give any deduction under Section 80G on the aforesaid donation.4. The assessee appealed to the Commissioner (Appeals) and contended that the action ...

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Sep 30 1982 (TRI)

Desai Lallubhai Construction Co. Vs. Fourth Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD213(Mum.)

1. The only question for consideration in this appeal is whether the assessee-company is entitled to depreciation under Section 32(1)(vi) of the Income-tax Act, 1961 ('the Act').2. The assessee-company is engaged in the business of laying down pipelines for the Municipal Corporation. It maintains its accounts on mercantile basis. For the assessment year 1976-77, it claimed initial depreciation under Section 32(1)(vi), for the machinery purchased and used by it in its business. The ITO rejected the claim of the assessce on the ground that the assessee was not engaged in the business of 'manufacture' or 'production' of any of the articles specified in the Ninth Schedule to the Act. On appeal, the AAC confirmed the order of the ITO. The assessee has, therefore, filed the present appeal.3. Before me, the learned representative of the assessee contended that the laying down of pipes, after joining them together, tantamoimted to 'manufacture' or 'production' of articles within the meaning o...

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Sep 29 1982 (TRI)

Jyoti L. Gandhi Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD295(Mum.)

1. These three appeals, filed by the same assessee, involve a common question for consideration. They are, therefore, disposed of by a common order.2. The assessee is a mentally retarded person. In the course of assessment proceedings for the assessment years 1975-76 to 1977-78, she claimed deduction under Section 8OU of the Income-tax Act, 1961 ('the Act'). In support of her claim, the assessee produced the following medical certificate :Dr. V.K. Habbu Plot 70, Vallabh Nivas, MBBS Sion West, Bombay-22 Miss Jyoti Lalchand Gandhi aged about 10 years, residing with her parents at 9-AWoodIand, 67 Peddar Road, Bombay 26 is mentally retarded since birth. Her disability is permanent. She cannot be engaged in any gainful occupation.3. The ITO observed that deduction under Section 80U was allowable only if the assessee was totally blind or that he/she suffers from permanent physical disability which had the effect of reducing substantially his/her capacity to engage in a gainful employment or...

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Sep 29 1982 (TRI)

income-tax Officer Vs. Western India Bakers (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD675(Mum.)

1. This appeal has been filed by the department against the order dated 17-2-1981 of the Commissioner (Appeals) relating to the assessment year 1978-79, the previous year of which ended on 31-3-1978.2. The only ground taken in this appeal states that the Commissioner (Appeals) erred in setting aside the ITO's order granting relief under Section 80J of the Income-tax Act, 1961 ('the Act') and directing the ITO to recompute the relief in the light of the Supreme Court decision to be delivered in future.3. The assessee is a private limited company. It was entitled to relief under Section 80J. It claimed to calculate such relief on the gross assets without deducting the liabilities as was held in the case of Century Enka Ltd. v. ITO [1977] 107 ITR 909 (Cal.). The ITO did not agree. He referred to the recent amendment of Section 80J with retrospective effect and calculated the relief on the net assets after deducting the liabilities to third parties. The ITO completed the assessment accord...

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Sep 07 1982 (TRI)

National Construction Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD677(Mum.)

1. These are two cross appeals from the findings of the Commissioner (Appeals) that the assessee, a registered firm, engaged in construction of buildings is eligible for deduction under Section 80J of the Income-tax Act, 1961 ('the Act').2. The assessee is a firm constituted under a deed of partnership dated 24-4-1974. The partnership business is constructing buildings on a plot of land allotted to them by the Government of Maharashtra at Nariman Point. The building would consist of several shops, offices, basements and garages, which were sold to various persons on ownership basis.3. In the assessment proceedings for the assessment year 1979-80, for which the accounting year was the year ended 30-6-1978, the assessee claimed that they were entitled to deduction under Section 80J. The ITO held that the assessee was not eligible for the deduction, while, on appeal the Commissioner (Appeals), following the decisions of the Bombay Tribunal Benches in some other cases held that the assess...

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Aug 31 1982 (TRI)

Devkumar G. Aggarwal Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD255(Mum.)

1. The assessee is an individual. There was a raid in the premises of the assessee and certain assets were seized. While filing the return of net wealth, the assessee returned the cash, etc., seized, but claimed in Statement III various other items seized during the search action as exempt from wealth-tax. These included coin collections to the extent of Rs. 4,17,688, pooja coins Rs. 30,148, miniature paintings valued at Rs. 2,31,350 and certain currency notes, etc. In support of his claim for exemption under Section 5 of the Wealth-tax Act, 1957 ('the Act') for the above assets, the assessee relied on an order of the Tribunal in the case of one Shamsunder G. Aggarwal. Holding that the artistic work done on coins do not entitle the assessee to the exemption, the WTO rejected the assessee's claim for exemption under Section 5(1)(xii). The WTO noted that the Tribunal had rejected in Shamsunder G, Aggarwal's case the claim for exemption of coins considered as archaeologically valuable. T...

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Aug 31 1982 (TRI)

Fourth Income-tax Officer Vs. Shakti Samanta

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD546(Mum.)

1. The revenue has made this appeal against the order dated 17-1-1981 of the Commissioner (Appeals) II? Bombay, who partly allowed the appeal against the order dated 26-9-1980 of the 4th ITO, Film Circle, Bombay.2. The relevant facts in brief leading to this appeal are that the assessee is an individual. During the previous year relevant for the assessment year 1977-78 ended on 31-3-1977, the assessee released the picture 'Balika Badhu', admitted total realisation of Rs. 29,81,600 and thereby declared profit of Rs. 5,12,125. The exploitation rights of the film for the territories of Tamil Nadu and Andhra Pradesh had not been sold during the year of account as the prints were not delivered. The assessee, however, debited to the profit and loss account the full cost of production. The ITO did not agree with the assessee that the full cost of production be debited to the profit and loss account on the ground that the assessee had not delivered the prints for the territories of Tamil Nadu...

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Aug 18 1982 (TRI)

income-tax Officer Vs. Lata Mangeshkar

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1982)2ITD618(Mum.)

1. This appeal has been filed by the department against the order dated 23-3-1981 of the Commissioner (Appeals), relating to the assessment year 1976-77, the previous year of which ended on 31-3-1976. The grounds taken in this appeal are as below : 7. The learned Commissioner (Appeals) erred in holding that on the facts and in the circumstances of the case and in law the assessee being a professional is engaged in business and that the assessee is eligible for weighted deduction under Section 35B. 2. He further erred in accepting the alternative claim of the assessee that the foreign tour income should be treated as business income and not income from profession and hence entitled to deduction under Section 35B.2. The assessee is an eminent playback singer in the Film Industry.During the year under consideration, she had been to the USA to give public performances at nine places, in accordance with an agreement dated 11-3-1975 with Image of India, who acted as the agent of the assesse...

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Aug 13 1982 (TRI)

income-tax Officer Vs. Warden and Co. (India) (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD128(Mum.)

1 to 5. [These paras are not reproduced here as they involve minor issues.] 6. The assessee carries on business in the manufacture and sale of paper and hessian bags and plastic containers. It does not export these goods. The case of the assessee is that it supplies bags and containers to certain exporters who export their own goods in the same. On these facts, the assessee claimed weighted deduction under Section 35B of the Income-tax Act, 1961 ('the Act') in respect of the following expenditure :SI. Assessment year Nature of Amount ofNo. expenditure expenditure1.1975-76 (a)Salary for staff Rs. 40,131 (b)Membership 7. The ITO observed that the expenses in question were incurred by the assessee in connection with its normal business in India and that there was no evidence to prove that these expenses related to the export business, if any. He, therefore, disallowed the claim of the assessee.8. On appeal, the Commissioner (Appeals) found that the total turnover of the assessee amounted...

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