9911796707
TMI Blog1983 (11) TMI 102X X X X Extracts X X X X X X X X Extracts X X X X ..... the circumstances of the case and in law, the learned AAC further erred in directing the ITO to consider the said amount of Rs. 3,000 for the purpose of granting deduction under section 35B. (iii) On the facts and in the circumstances of the case and in law, the learned AAC further erred in directing the ITO to allow depreciation on air-conditioner fitted to the car at 20 per cent. " 2. The assessee has also come up by way of cross-objection taking up following five grounds :---- " The learned AAC has erred--- (i) in not considering the deduction under-section 80J of the Income-tax Act as claimed by the assessee, (ii) in disallowing the investment allowance claimed by the assessee, (iii) in confirming the ITO's order and thereby rest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tyre which is also a part of the car. Since the tyre cannot be separated from the car and is entitled to 20 per cent rate, the same would be the position in case of the air-conditioner. 5. We have considered the submissions made by both the parties and have also gone through the orders of the authorities below. 6. The AAC was certainly in error in stating that rule 6D was not applicable to the expenditure in respect of the foreign travel. In fact, rule 6D is concerned with expenditure in connection with foreign travel, etc., as provided vide clause (i) of sub-rule (1) of the said rule. Therefore, the first and second grounds are required to be redecided by the AAC and, therefore, to that extent his order is set aside. 7. In respect of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Delhi, is against the assessee and the ground is agitated to keep the matter alive. Therefore, this ground is decided against the assessee. 8.2 In respect of restricting the allowance of depreciation on assets under section 38(2) of the Act in proportion to the period of nine months when the business was taken over by a partnership firm with effect from 1-10-1977, it was submitted that the restriction is without any basis because section 38(2) is not applicable to the facts of the case. We are fully in agreement with the learned counsel for the assessee because section 38(2) is applicable to a case where an asset is not exclusively used for the purposes of business and not to a case where the asset though exclusively used for the purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed' on the valuation date under section 2(m) of the Wealth-tax Act, 1957. 8.4 The learned departmental representative relied upon the order of the AAC. 8.5 We have considered the submissions. Section 80V reads as under :---- " In computing the total income of an assessee, there shall be allowed by way of deduction any interest paid by him in the previous year on any money borrowed for the payment of any tax due from him under this Act. " Under the Act section 2(43) defines the 'tax' as under :--- " 'tax' in relation to the assessment year commencing on the 1st day of April, 1965,.... means income-tax chargeable under the provisions of this Act, . . ." To appreciate the slender point involved, we shall have to look at the VDS. So doi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k of Bindra's Conveyancing, etc., mentions at page 454 of the 4th Volume of the 6th edition that the word 'any' excludes limitation or qualifications. It connotes wide generality. From various decisions, it is clear that the word 'any' should be given a meaning as wide as possible in the context. It is also noted that the word 'any' made in certain context imply 'all'. While so interpreting the word 'any' as prefix with tax under section 80V, it shall have to be understood that even the income-tax payable under 1976 Act and remaining outstanding partakes the character of tax under the provisions of the 1961 Act. Even considering the administrative aspect, it would be agreed that at the time of VDS, great importance was attached to collectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he issue in favour of the assessee. 8.7 While ending, we could like to state that the case relied upon by the assessee supra is not fully applicable to the issue involved in the appeal because in that case the Supreme Court was concerned with VDS declared by the Finance Act, 1965, which was embodied in section 6 of the 1961 Act itself. While in the case under consideration, we are concerned with separate enactment, viz., the 1976 Act, though concerning the taxation on income and wealth contemplated under the 1961 Act. The last ground is taken in respect of the disallowance of Rs. 1,500 and It was submitted on behalf of both the parties that the ground may be decided as thought proper by us. The ITO has disallowed the sum out of conveyance, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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