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Northern India theatres (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1993)45ITD310(Delhi)

of value of Naaz Cinema Building in the wealth-tax is against the provisions of Section 40(3) of the Finance Act, 1983. Provisions of Section 2(e)(v) of the Wealth-tax Act, 1957 could not be invoked in contravention of the … on terms and conditions mentioned.This new tenancy will start from month to month under Section 116 read with Section 106 of the Transfer of Property Act, 1882. It was submitted that this tenancy being precarious in nature, cannot

Chenai Finance Co. Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2002)81ITD7(Hyd.)

Companies Act. We may now reproduce below the relevant provisions of Section 145, which before its amendment by Finance Act, 1995, with effect from 1-4-1997, reads as under- 145(1) Method of accounting-(1) Income chargeable under the head "Profits … High Court in CIT v. Tata Iron & Steel Co. Ltd. [1977] 106 ITR 363.8. When the established position is that the choice in the … Hyderabad, dated 18-9-1995, passed under Section 263 of the Income-tax Act, 1961 for the assessment years 1991-92 and 1992-93.2. The common effective grievance of the assessee in these appeals is that the CIT(A) erred in assuming jurisdiction

income-tax Officer Vs. R.K. Bros.

Court : Income Tax Appellate Tribunal ITAT Allahabad

Subject : Direct Taxation

Reported in : (2003)87ITD649(All.)

as under in the case of Prathi Hardware Stores (supra): A conspectus of the Explanation added by the Finance Act, 1964 and the subsequent substituted Explanation makes it clear that the statute visualised the assessment proceedings and penalty … to another. The original return of income was filed on 18th May, 1992 for assessment year 1991-92 in which total receipts of Rs. 19,41,233 were … The rationale behind this view is that the basic facts are within the special knowledge of the assessee. Section 106 of the Indian Evidence Act, 1872 gives statutory recognition to this universally accepted rule of evidence. There is

Mitsui and Company Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

ITD 569 (Del), Performing Right Society Ltd. & Anr. vs. CIT (1976) 106 ITR 11 (SC), Grindlays Bank Ltd. vs. CIT (1992) 193 ITR 457 … by inserting an explanation in s. 9(ii) of the IT Act, 1961, w.e.f. 1st April, 1979 by the Finance Act, 1983 [140 ITR (St) 116], it is clarified and declared that the income which falls under the head … 201(1A) of the later Act -------------------------------------------------------------------- Rs. Rs. -------------------------------------------------------------------- 1989-90 7,33,636 6,64,099 1990-91 47,17,597 37,11,590 1991-92 1,46,70,228 93,72,310 1992-93 2,02,83,770 1,00,27,809 1993-94 2,00,24,999 69,64,102 1994-95 87,32,058 18,32,446 ------------- ------------ 6,91,62,288 3,25,72,356 ------------- ------------ -------------------------------------------------------------------- 3.3. These facts … there was reasonable cause for failure to deduct tax at source. The section unlike the provisions of s. 271(1)(c) does not contain any artificial deeming

Deputy Commissioner (Law), Commercial Taxes Vs. Parekh Brothers

Court : Kerala

Subject : Sales Tax

Acts : Kerala General Sales Tax Act, 1963 - Sections 5(1), 9 and 59A

Reported in : [2000]119STC166(Ker)

point of levy was made. This was the position till March 31, 1992, as amended by the Kerala Finance Act, 1992. New item 106 reads as 'rain coat, tarpaulin and products of waterproof cloth, rexine and PVC cloth'. Rate … Arijit Pasayat, C.J.1. These three applications have been filed by the Revenue under Section 41 of the Kerala General Sales Tax Act, 1963 (in short, 'the Act') read with Rule 41(1) of

Sahara India Savings and Investment Corporation. Ltd. Vs. Asstt. Cit

Court : Allahabad

Subject : Direct Taxation

Reported in : [2001]79ITD56(NULL)

need to amend the law and insert sub-clause (va) in section 2(5B) of the Interest Tax Act by Finance Act, 1992 w.e.f. 1-4-1993 to include a Residuary Non-Banking Company even the explanatory memorandum as stated above to bring out … be investments (relying on the judgment of the Supreme Court in Nawn Estates (P.) Ltd. v. CIT (1997) 106 ITR 45 . Therefore, it is humbly submitted that reliance of the Commissioner (Appeals) on the said judgment

Maruti Udyog Ltd. Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : [2005]92ITD120(Delhi)

Ltd. v. Joint CIT (2002) 122 Taxman 28 (Chd.) (Mag.)(3) Business Information Processing Services v. Asstt. CIT (1999) 106 Taxman 116 (Jp.) (Mag.)(4) Gurudev Engineers (P) Ltd. v. ITO (1990) 34 ITD 297 (Mad.)(5) ITC Classic Finance … The legislature made retrospective amendment to section 28 of the Act by inserting clauses (iiia) to (iiic) by Finance Act, 1990 with effect from 1-4-1962. Thus, income by way of duty drawback became taxable income by virtue of

Sahara India Savings and Investment Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Subject : Land Acquisition

need to amend the law and insert sub-clause (va) in Section 2(5B) of the Interest Tax Act by Finance Act, 1992 w.e.f. 1-4-1993 to include a Residuary Non-Banking Company even the explanatory memorandum as stated above to bring out … held to be investments (relying on the judgment of the Supreme Court in Na\\m Estates (P.) Ltd. v.C/r[1997] 106 ITR 45. Therefore, it is humbly submitted that reliance of the CIT(A) on the said judgment is incorrect

A.H. Baldota Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)103TTJ(Mum.)517

off this loss against his income from other sources and/or under other head after the amendment made by Finance Act, 1992. This is relevant because unless a partner has share of loss assessable in his hands under the head … Singh in his book "Principle of Statutory Interpretation (Eight Edn., 2001) p. 106 as under: An explanation may be added to include something within or … was the partner in the relevant period, even though share of profits from the partnership is exempt under Section 10(2A).2. The facts for the first three assessment years are identical. The return of income was filed late.

Rikhabdass Jain, Contractor Vs. Ito

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2001)72TTJ(NULL)526

provided and authorised by the partnership deed is an admissible expenditure as per section 40(b) amended by the Finance Act, 1992, with effect from assessment year 1993-94. He also furnished a copy of relevant partnership deed in his paper … in the second round in an application under section 256 moved by the revenue, being DB ITRA No. 106/1999 in respect of the very same assessment the Honble Jurisdictional High Court in its decision dated 15-3-2000, has