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Case Laws
Showing 41 to 60 of 168 Records
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1979 (10) TMI 195 - MADRAS HIGH COURT
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... ... ..... to their being returned. As a safeguard against the contingency of the bottles not being returned, the assessee collected deposits which were refunded as soon as the bottles were returned. Therefore, this is a clear indication that the deposit retains only the character of deposits and not sale price of the goods. In fact, even in the case of soft drinks in all shops, this trade practice of collecting small amounts as and by way of caution deposit, so that the party who takes the bottles returns the bottles, is adopted. In all such cases, it cannot be contended that there is a sale of the bottles as such. There is no sale of bottles when liquor is sold. Even when the bottles are not returned and the deposits forfeited, there is no sale. We, therefore, agree with the Tribunal and hold that the deposits cannot be classified as sale price and taxed. The result is both the revision petitions fail and are dismissed with costs. Counsel s fee Rs. 250 (one set). Petitions dismissed.
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1979 (10) TMI 194 - SUPREME COURT
Whether for the purpose of computing the turnover assessed to sales tax under the Central Sales Tax Act. 1956 the sale price of goods is determined by including the amount paid by way of trade discount?
Held that:- Appeal dismissed. The sale price which enters into the computation of the assessee's turnover for the purpose of assessment under the Central Sales Tax Act is obtained after deducting the trade discount from the catalogue price. The trade discount allowed by the assessee cannot be included in the turnover.
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1979 (10) TMI 193 - SUPREME COURT
Whether certain ornaments and other articles of gold purchased by the assessee with a view to melting them and making new ornaments or other articles out of the melted gold fall within entry 56 in the First Schedule of the Kerala General Sales Tax Act, 1963 which reads "bullion and specie"?
whether G.I. pipes sold by the assessee fall within entry 26A in the First Schedule to the Act, which reads "water supply and sanitary fittings"?
Held that:- Allow the appeal, set aside the orders made by the High Court, the Tribunal and the Appellate Assistant Commissioner and hold that so far as the ornaments and other articles of gold purchased by the assessee are concerned, they were liable to be taxed at the general rate of 3 per cent under section 5A read with section 5(1)(ii) of the Act and so far as G.I. pipes sold by the assessee are concerned, we remand the case to the Appellate Assistant Commissioner for the purpose of deciding on the basis of the existing material as also such further material as may be adduced, whether G.I. pipes sold by the assessee fall within the description "water supply and sanitary fittings" so as to be exigible to sales tax at the higher rate of 7 per cent under entry 26A.
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1979 (10) TMI 190 - SC ORDER
Whether for the purpose of determining the taxable turnover for assessment under the Central Sales Tax Act, 1956, the sale price must be computed by including the amount allowed by way of trade discount?
Held that:- Appeal dismissed. The assessee effected sales of goods to its dealers and allowed a trade discount on the catalogue price to cover the expenses incurred by the dealers and permit a margin of profit to them. The dealers were required to sell the goods at the catalogue price. For the assessment years 1960-61 to 1963-64, the High Court of Kerala has held that the amount allowed as trade discount could not be included in the taxable turnover as relying on Orient Paper Mills v. State of Orissa [1974 (2) TMI 67 - ORISSA HIGH COURT] which is right.
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1979 (10) TMI 184 - SUPREME COURT
Whether the amount of freight which was included in the "free on rail destination railway station" price, but which was paid by the purchasers and hence deducted from the price shown in the invoices sent to the purchasers, formed part of the sale price so as to be liable to be included in the taxable turnover of the assessee?
Held that:- The assessee could not be said to have filed "false" returns when it did not include the amount of freight in the taxable turnover shown in the returns and the Assistant Commissioner of Sales Tax was not justified in imposing penalty on the assessee under section 43 of the Madhya Pradesh General Sales Tax Act, 1958, and section 9, sub-section (2), of the Central Sales Tax Act, 1956.
We accordingly reject the appeals in so far as they are directed against the inclusion of the amount of freight in the taxable turnover of the assessee, but allow the appeals in so far as they relate to imposition of penalty and set aside the orders passed by the Assistant Commissioner of Sales Tax imposing penalty on the assessee.
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1979 (10) TMI 182 - SC ORDER
Whether any of the provisions in sections 33(6) and 35 of the Bombay Sales Tax Act, 1959 which are in pari materia with sections 14(6) and 15, respectively, of the Bombay Sales Tax Act, 1953 offend article 14 of the Constitution and, as such, are void?
Held that:- Appeal allowed. Section 33(6) of the 1959 Act and section 14(6) of the 1953 Act do not violate article 14 of the Constitution and are valid as relying on State of Gujarat v. Patel Ramjibhai Danabhai [1979 (5) TMI 134 - SUPREME COURT OF INDIA]
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1979 (10) TMI 161 - HIGH COURT OF CALCUTTA
Seceretary, Oppression and Mismanagement – Right to apply under section 397 and 398 ... ... ... ... ..... not the requisite qualification and as such, this court has no jurisdiction to entertain the said application. In that view of the matter as I have already held that the application is not maintainable, the same is liable to be dismissed with costs. Further, I have discussed the merits of the application and I am also of the view that no case has been made out by the petitioner against the respondents either on oppression or mismanagement either under section 397 or section 398 of the Companies Act and the present application is absolutely mala fide vexatious and harassing. In that view of the matter, the application is dismissed with costs and the special officer will stand discharged. It appears that the special officer has already been paid 130 G. ms. and a further amount of 100 G. ms. is to be paid to him by the company out of the funds of the company and the special officer will stand discharged. The special officer and all parties to act on a signed copy of the minutes.
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1979 (10) TMI 154 - HIGH COURT OF RAJASTHAN
Compromise and Arrangement ... ... ... ... ..... titioners and the I.T. Dept. shall be enforced forthwith. In case of inconsistencies between the scheme dated December 15, 1975, and the present agreement or arrangement the clauses of the present agreement or arrangement shall supersede the relevant clauses of the scheme dated December 15, 1975. A harmonious construction shall be put in bringing together the clauses of the scheme dated December 15, 1975, and the present agreement or arrangement. In case of doubt or of serious ambiguity, directions may be obtained from the court on an application being moved in writing. A prayer has been made that the various suits and other proceedings pending for and on behalf of the Golcha properties should be ordered to be filed. At present, it is not possible to pass any specific order with regard to the various proceedings which are pending. After this scheme has been put into force specific orders would be passed on each file, when they come up before this court for further proceeding.
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1979 (10) TMI 145 - HIGH COURT OF MADRAS
Public deposits ... ... ... ... ..... of the provisions of section 468(c ) of the Code of Criminal Procedure. Having regard to the gravity and the nature of the offence committed, I hope that adequate sentence would be awarded if the case ends in conviction. It is contended by the learned counsel for the petitioners that the petitioners are trying to get exemption under section 58A(8) of the Act and that, till then, this petition may be adjourned. There is no certainty that any such exemption will be granted. The petitioners cannot use this court as a shock absorber or insulator between the prosecution of the case and the grant of exemption by the Government. I place on record my deep regret that this petition should have been filed merely for the purpose of gaining time. There is no merit in this petition, and it is, therefore, dismissed with a direction to the trial court to expedite the trial of the case and dispose of the same. The petitioners shall pay the costs of the Government counsel in the instant case.
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1979 (10) TMI 144 - HIGH COURT OF CALCUTTA
Memorandum of association – Special resolution and confirmation by CLB required for alteration of, Notice for meeting, Oppression and Mismanagement
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1979 (10) TMI 131 - ITAT PATNA-B
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... ... ..... there is a Note by the ITO not for the assessee as follows Since the bottling unit has already availed of the tax holiday for 5 years upto asst. yr. 1974-75, the capital employed therein is no more eligible for relief under s. 80J. There is another note on the assessment order but not for the assessee which is as follows. Calculations of development rebate, depreciation and relief under s. 80J for bakery unit have been done and checked by the Inspector, Shri M.N. Sinha . If the letters as well as these notings of the ITO are taken into consideration, it is clear that the assessment was reopened merely on change of opinion and there was no information within the meaning of s. 147(b) of the Act. The above proposition of law is supported by the decision in 102 ITR 287, 82 ITR 367, 103 ITR 437 and 82 ITR 831. Consequently, even on this ground the assessment order could not be maintained. Hence the assessment made under s. 148 is set aside. 7. In the result, the appeal is allowed.
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1979 (10) TMI 129 - ITAT NAGPUR
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... ... ..... fore, there was less withdrawals. 4. The Deptl. Representative supported that order of the AAC. 5. Having heard the rival submissions an going through the material before us, we are inclined to give partial relief to the assessee. It is pertinent to note for the year under consideration, as stated earlier, the sales are practically doubled and in addition to that the assessee had to buy grass from Gujarat by Railway and had paid Rs. 23,000 by way of demurrage. This was specifically pointed out to the ITO. But it appears that the ITO had not applied his mind to this aspect of the matter. Since the assessee s Representative conceded that some addition is called for, in fairness we direct that Rs. 5,000 addition would meet the ends of justice. We further clarify that having regard to the fact that the partners have agricultural income, the withdrawals made by them, though appear to be small, does no attract any addition. 6. In the result, the assessee s appeal is partly allowed.
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1979 (10) TMI 126 - ITAT MADRAS-D
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... ... ..... n by Government, the object of the Government has been achieved. So the payment though by coercive proceedings like s. 226(3) of deficit taxes on returned income after the appeal petitions were presented and before it was disposed of, is a good and sufficient reason for exemption of the assessee from the operation of s. 249(4), particularly when the assessee had paid very substantial sums(more than 90 per cent of the taxes) towards taxes even before appeal petitions were presented. So we hold accordingly. In the light of the view we take, on this matter, we are not discussing the various other submissions of the representative for the assessee and his request to admit additional grounds. 8. The three appeals of the assessee are allowed. The order of the CIT (Appeals)for three asst. yrs.(1973-74, 1974-75 and 1975-76 refusing to admit the appeals are cancelled. The Commr.(Appeals) is directed to restore these three appeals to his file and dispose them on the merits of the case.
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1979 (10) TMI 125 - ITAT MADRAS-D
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... ... ..... 5th Dec., 1974 is should not be treated as advance tax. Whatever the position might be the question whether interest under s. 139(8) would be computed after deducting the advance tax paid or not is a debatable issue. The ITO under s. 154 cannot rectify the assessment on an arguable and debatable point. Hence that part of the order of the ITO taking the tax due as Rs. 1,04,800 and not as Rs. 80,590 cannot be supported, in an order under s. 154. However in view of our finding that the calculation of interest for one month in the original order was only a mistake, the computation of interest can be rectified by calculating interest at 12 per cent on Rs. 80,590 for two months. So, we allow rectification to the extent of a further amount of Rs. 806. Hence the order of the AAC requires modification, that is we confirm the rectification to the extent of Rs. 806 and give the assessee a relief of interest charged of Rs. 484. 8. In the result the departmental appeal is allowed in part.
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1979 (10) TMI 124 - ITAT MADRAS-D
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... ... ..... aggrieved by such finding the assessee is in appeal before the Tribunal. 3. At the time of hearing before us ld. Deptl. representative relied on the Tribunal s decision referred to by the CIT (Appeals) and also a Special Bench decision of the Tribunal in the case of Amar Dyes (Chemicals) Ltd (2). In both the decisions the Tribunal held that surtax is not an admissible deduction under s. 37 of the IT Act. No doubt there is no High Court decision brought to our notice. However, in view of the Tribunal s decisions referred to above we confirm the finding of the AAC on this point. 4. The assessee relied on the decision of the Supreme court in the case of Jaipuria Samla Amalgamated Collieries Ltd. vs. CIT, West Bengal (3), that was only with reference to the case being a deduction. That decision cannot be applied with regard to surtax liability since it is liability similar to the payment of Income-tax which is not deductible. 5. In the result, the assessee s appeal is dismissed.
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1979 (10) TMI 123 - ITAT MADRAS-D
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... ... ..... ent year. The high Court further referred to the Supreme Court decision Cloth Traders (4) and held that the deduction under s. 80T should be allowed on the gross amount of capital gains before setting off of business loss for the same year under s. 71. The wordings of s.80T considered by the High Court and that of 80QQ under present consideration are practically identical, the former referring to the income chargeable under the head capital gains and the latter referring to the profits and gains derived from the printing business. On a parity of reasoning we are of the view that the assessee would be entitled to relief on the gross income from the publishing business before setting off the trading loss, subject to the restriction that the total deductions under Chapter VI-A including 80QQ should not exceed the assessee s gross total income as per s.80A(2). In this view of the matter we would reject the Revenue s ground. 5. In the result the Revenue s appeal is partly allowed.
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1979 (10) TMI 122 - ITAT MADRAS-D
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... ... ..... il. 4. We have heard the parties. Under s. 80A(2) the aggregate amount of the deductions under Chapter VI-A shall not, in any case, exceed the gross total income of the assessee . s. 80B (5) defines gross total income as the total income computed in accordance with the provisions of this Act, before making any deduction under Chapter VI-A or under s. 280-O. The legal position thus is that the deduction under s. 80M to be allowed, if any, will be subject to the existence of a positive gross total income, since the deduction under Chapter IV-A including 80M cannot exceed the gross total income. In the present case since the ITO has worked out the gross total income in accordance with the provisions of the Act at a loss figure, the lower authorities would be justified in their view that in such circumstances the assessee is not entitled to any deduction under s. 80M. The assessee s ground in this behalf is hence rejected. 5. In the result the assessee s appeal is partly allowed.
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1979 (10) TMI 119 - ITAT MADRAS-C
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... ... ..... of the debt and cannot apply to sub-s. (b) which is governed by the proviso to that subsection which requires a clear nexus. This position has been explained in the case of Mrs. Ratnakumari Kumbhat. The revenue has not been able to controvert the finding of fact that no such nexus exists in this case. The copy of the current account which the deceased had with his wife also shows that she had enough funds of her own. Though the gifted amount might have merged with the funds of her money lending business there is nothing to indicate that the gift was given to enable her to advance any amounts to her husband later. The alternating credit and debit balances in the years between the date of the gift and the date of death is also an indication to the contrary. Thus we are convinced that the provisions of neither sub-s. (a) nor (b) are applicable to the facts of this case. We have therefore no hesitation in confirming the order of the AAC. 7. In the result the appeal is dismissed.
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1979 (10) TMI 118 - ITAT MADRAS-C
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... ... ..... at it is a document executed for the purpose of providing the maintenance of the minor children. So we are proceeding on that basis. But this provision may, be valuable consideration as understood in the law of contracts. But not consideration in the money or monies worth. The Madras High Court in MSM Ratnaswamy Nadar vs. CIT has held to that effect. It is true that the Madras High Court in the judgment cited above, was only interpreting the expression adequate consideration appearing in IT Act, 1961. But any reasoning adopted is equally applicable to the definition in GT Act where the expression is consideration in money or monies worth . So this is a gift because there is no consideration in money or monies worth as explained by the Madras High Court. So the appeal of the Department has to be allowed. 4. Departmental appeal allowed. The appellate order is set aside. The gift-tax assessment is restored to file. The cross objection by the assessee is dismissed as infructuous.
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1979 (10) TMI 115 - ITAT MADRAS-B
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... ... ..... order of the AAC. It is true that in the assessment appeal the addition has been sustained. But this is so more because the assessee was not able to conclusively support his case of investment. For assessment purposes if there was a suspicion of the absence of a proof to show that amounts came from the lady for investment and taking the other circumstances into account the addition may have been made. To levy penalty it has to be shown that the assessee had actually concealed the income. The property in the present case stands in the name of the assessee s wife. For all apparent purposes the wife is the investor. The mere fact that the wife was not able to explain the source to the satisfaction of the ITO and on account of the close relationship between the parties the assessment was fastened on to the assessee does not establish that he has concealed income represented by the assessment. The penalty has been correctly deleted by the AAC. The departmental appeal is dismissed.
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