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Deputy Commissioner of Income Tax Vs. Borosil Glass Works Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2004)83TTJ(Mum.)361

ground raised in this appeal It relates to interpretation of the provisions of Section 115J(2) of the IT Act, 1961. The facts of the case in brief are as follows : 3. For the asst. yr. 1988-89,

Choice Trading Corporation Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2006)103ITD75(Coch.)

shall be rectified: (ii) any loss carried forward, deduction, allowance or relief, which, on the basis of the information available in such return, accounts or documents, is prima facie admissible but which is not claimed in the … and hence, he proposed to rectify the intimation by invoking the provisions of Section 154 of the IT Act.After hearing the assessee, the assessing officer worked out the loss at Rs. 6,89,14,911/- as per his order dated

Additional Commissioner of Vs. Nestle India Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2005)94TTJ(Delhi)53

claim of deduction in detail. He addressed a letter dt. 7th June, 1999, to the assessee-company seeking further information specified therein. Thereafter, the learned AO issued detailed questionnaires and made several requisitions as per order-sheet entry dt. … were commercially successful in India and not all the products of Nestle Group. The assessee-company paid for tested technology. The technology being received by the assessee-company was proprietary and in terms of the agreements, complete confidentiality and … No. 4545/Del/2000 is the appeal filed by the Revenue on 20th Nov., 2000, against the order of the CIT(A)-XXI, New Delhi, dt.31st Aug., 2000, in … were not hit by the provisions of Section 40A{2) of the IT Act, 1961. The powers under Section 92 could be applied-only if the Department

Siemens Information System Ltd. Vs. Assistant Commissioner of Income T ...

Court : Mumbai

Subject : Direct Taxation

Acts : Companies Act, 1956; Income Tax Act, 1961 - Sections 2(45), 4, 5, 10A, 10A(1), 10B, 80B(5), 143(1), 147 and 148; Finance Act, 2000

Reported in : 2007(6)BomCR236; (2007)211CTR(Bom)10; [2007]293ITR548(Bom)

furnished by the respondent No. 1 had quoted the provisions of Section 10A as amended by the Finance Act, 2000 w.e.f. the asst. yr. 2001-02 and as such could not have been made applicable for the asst. yr. … case of CIT v. Himatasingike Seide Ltd. (2006) 206 CTR (Kar) 106: (2006) 286 ITR 255 .5. The first issue that we are called upon to answer is whether in fact, the respondent had reason to believe

Assistant Commissioner of Income Vs. Fertilizer Traders [Alongwith

Court : Income Tax Appellate Tribunal ITAT Allahabad

Subject : Direct Taxation

Reported in : (2004)83TTJ(All.)473

entries of two sets and gave the copies of printsout. It is necessary to mention that as per information supplied by the counsel for the assessee, the position of the regular returns of both the assessees are … on facts in upholding the validity of the order dt. 4th Oct., 2000 that had been passed earlier by the Dy. CIT, Central Circle, Gorakhpur … against different orders of the CIT(A)-I, Kanpur dt. 14th Aug., 2002 passed under Section 158BC/154 of the IT Act, 1961.3. In both the cases of the assessees, undisclosed income was computed and thereafter it was bifurcated in

Varsha Plastics (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)99TTJ(Mum.)487

(iii) creditworthiness of the creditor. A person may have funds from any source and an assessee, on such information received, may take a loan from such a person. It is not the business of the assessee to … of the company--Shri R.P. Goel, appeared before the AO on 28th Feb., 2000, and confirmed the loan transaction. (ii) The learned CIT(A) erred in confirming … (i) The learned CIT(A) erred in confirming the addition of Rs. 12,50,000 under Section 68 of the IT Act as the income of the appellant on account of borrowings made from M/s Fraternity Electronics Ltd. for which

Sterlite Industries (India) Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2006)102TTJ(Mum.)53

1. The assessee as well as the Revenue are impugning the orders of learned first appellate authority in this bunch of 14 appeals and two cross-objections in asst. yrs. 1989-90 to 1999-2000. The … substitute for development rebate, by only a different name and it is a clear incentive for ushering in technological development. The second proviso to Section 32A(1) clearly prohibits investment allowance in the case of any machinery or … reason" as provided in Sub-section (5) of Section 253 of the IT Act is used in identical position in the Limitation Act and the CPC. … ____________ Less: Depreciation as per the Companies Act as per Schedule VI 89,40,761 ____________ 30% of the book profit as above 1,01,03,737 ____________ Computation of

Assistant Commissioner of Income Vs. Vindhya Telelinks Ltd.

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Subject : Direct Taxation

Reported in : (2007)107TTJJab149

Section 148 the appellant filed the returns. The appellant also received notices under Section 143(2) calling for further information on certain points in connection with the returns. Thereupon the appellant filed writ petitions challenging the notices. The … stated to be pending.5. The notice under Section 148 dt. 23rd Oct., 2000 was issued for the reasons that: (1) Original assessment was completed under … entire assessment was bad in law. 4. The appellant is relying on decision of R.L. Narang which is actually against the appellant. The appellant is not appreciating that valid notice under Section 148 is a condition precedent

Deputy Commissioner of Income Tax Vs. U.P. Forest Corporation

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

for the asst. yrs. 1985-86 and 1986-87 respectively, the Tribunal issued notice under Section 254(2) of the IT Act dt. 30th Aug., 2000 requiring the assessee, M/s. U.P. Forest Corporation, Lucknow and the Revenue to state their … Supreme Court is concerned, it only sought that the issue of Section 11 cannot be raised for the first time before the High Court in its writ petition and in respect of Section 11, no issue has … of several decisions including Mrs. K.TM.S. Umma v. CIT (1983) 144 ITR 890 (Mad), Sidhramappa Andannappa Manvi v. CIT (1952) 21 ITR 333 (Bom), CIT

Parkar Securities Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)102TTJ(Ahd.)235

of a share broker. But the fact remains that it is only a general statement without any factual information giving the necessary transactions which were purported to have been caused due to bad delivery or due to … and it is directed against the order of CIT(A), dt. 19th Sept., 2000 for asst. yr. 1997-98.2. Grounds of appeal attached with Form No. 36 … consisted of purchase and sale of such shares' also does not indicate that the legislature had several other actual and existing non-speculative activities of business in mind. It merely indicates that the business activity which consists of … discussing the issue it would be worthwhile to reproduce the Explanation to Section 73 which reads as under: Where any part of the business of … v. Manekji Dossabhai Watcha (1898) ILR 22 Bom 899 and Sassoon v. Tokersey Jadhawjee (1904) ILR 28