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Picker India Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

the CIT(A) to invoke Section 92 to assessee's case, no particulars, data on comparable transactions, any other relevant information were gathered during the first remand. CIT(A)'s decision to set aside the issue to the file of the … are against the order of the CIT(A)-XXIX, New Delhi dt. 14th July, 2000. There are six grounds in the appeal of the assessee. Grounds 3 … guidelines. Further, the CIT(A) is directing the AO to apply the provisions of Section 92 of the IT Act and issuing certain directions in this regard. Finally, other two grounds Nos. 1 and 2 are: 1. That … the Article 9 of the US-Indo DTAA and the provisions of Section 40A(2)(b) and held that they are inapplicable. But CIT(A) held that prima facie,

Shaw Wallace Distilleries Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2004)85TTJ(Delhi)236

agreed : (a) not to divulge to third parties without the consent of the Swiss company any confidential information received under the agreement; (b) Without the written consent of the Swiss company, not to assign the benefit … royalty, the assessee explained its case as per letters dt. 24th Jan., 2000 and 10th March, 2000.7. The assessee relied upon the agreement with SWC … law, in further observing that the appellant and SWC were related persons as defined in Clause (b) of Section 40A(2) of the Act. 2.5 That CIT(A) erred in confirming the disallowance drawing baseless, irrelevant and untenable conclusions without

Additional Commissioner of Vs. Nestle India Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

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

Lanka, Bangladesh were cited to support the royalty payment by the assessee-company. As to the assessee not furnishing the information, the assessee argued that the same were supplied whenever asked for. Particulars as to how the technologies were … 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

Diebold Systems (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2006)104TTJ(Chennai)410

the authorities below or to our notice. In our opinion, it is just a discard entry. When this information was brought to the notice of the assessee, the assessee has agreed to offer this amount as income … with regard to allowability of deduction under Section 80-IA of the IT Act. This issue came up for consideration before this Tribunal for the asst. … at customer bank site and sales invoice was raised for the year 2000-01. Provision for the purchase of software was made on the basis of … not appreciating that given the facts of the present case, the AO erred in applying the provisions of Section 40A(2)(a) since the party to whom payments were made did not fall within the purview of Clause 2(a) of

Cit Vs. M/S V.R.V. Breweries and Bottling Industries Ltd.

Court : Delhi

Subject : Income Tax

Acts : Income Tax Act, 1961 - Sections 37, 35A, 40A(2)

and clause 9 which, required the assessee to maintain strict confidence in respect of communication, correspondence, records and information, knowledge and documents falling within its domain - that at no stage did SWCL part with any asset … last for a long period even though due to rapid change of technology and huge strides made in the field of science, the knowledge may … with the CIT(A). The CIT(A) proceeded to examine the issue with reference to the application of provisions of Section 40A(2) and Section 35A of the I.T. Act. In so far as the provisions of Section 40A(2) are concerned

G.G. Diamond International Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)104TTJ(Mum.)809

Investigation Wing of the Department at Surat.Investigation revealed that none of the parties are in existence. No local information was available regarding these parties. AO further noted from the bank accounts of these parties that there were … sales in the earlier year. Assessee-firm came into existence on 7th Jan., 2000 and this is the second year of assessee's business.3. AO held, in … appellant. 6. The CIT(A) has erred in confirming the disallowance of Rs. 1,29,77,912 under Section 40A(3) of the Act being 20 per cent of alleged cash purchase of Rs. 6,45,88,956 and also adding the said amount to

Amit Estate Organizer Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2008)113TTJ(Ahd.)1018

of the Act on 27th March, 2003 (for asst. yrs. 1995-96, 1996-97 and 1998-99) and on 28th Jan., 2000 for asst. yr. 1997-98. (ii) The second issue is with respect to rejection of assessee's books of account … that proceedings under Section 147 of the Act. for asst. yr. 1997-98 were initiated without there being any information/material with the Revenue which could make the AO to have reasons to believe that a particular income had … Works and after considering the same in violation of provisions of Section 40A(3) of the Act, disallowed 25 per cent of the said payment.4.4 During

Ranka Jewellers Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2008)117TTJ(Pune.)522

search indicated cash purchases of over Rs. 93.76 crores during the period 1999-2000 to 2002-03.As is evident, the first reason given was that the AO has not considered the investment made by the assessee towards undisclosed turnover … has challenged the order of CIT (Central), Pune dt. 26th March, 2007 passed under Section 263 of IT Act and the grounds are as under: 1. The learned CIT (Central), Pune erred in law and on facts … jewellery items. The AO had also not applied the provisions of Section 40A(3) of the IT Act when the evidences found during the course of

Nutan Warehousing Co. (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2007)106TTJ(Pune.)137

into a lease agreement with Lipton India Exports Ltd. dt. 17th Feb., 2000 and then with Hindustan Lever Ltd. (HLL) dt. 18th March, 2001.The relevant … limited the commission to 50 per cent of the profit accruing to the company before the commission. The first appellate authority had considered the circumstances and limited the disallowance beyond 7 per cent. The Tribunal had also … Rs. 21,98,050. In the assessment order passed under Section 143(3) of the Act the AO, assessed the lease rent received from M/s Hindustan Lever Ltd. … Hindustan Lever Ltd. under the head 'Income from house property', and made a disallowance of Rs. 13,51,000 under Section 40A(2)(b). He assessed the total income at Rs. 92,06,815 as under: 3. The order of the AO was challenged

George Educational, Medical and Vs. Assistant Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2002)80ITD619(Coch.)

society, furnished by us in our letter dt. 30th March, 1999 referred by your goodself, we wish to inform your goodself that the visits were made by the above-mentioned persons mentioned in the list to personally see … for exemption under Section 11, because it is hit by the provisions of Section 13(1)(c) '6f the IT Act.This is the main grievance of the assessee in its appeal. The Department is aggrieved by the order of … been applied for charitable purposes, the AO invoked the provisions of Section 40A(3) in respect of the expenditure incurred on the cost of construction of