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Schenectady Beck India Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2005)92TTJ(Mum.)872

AO is thus prejudicial to the interest of Revenue." 4. Shri Khare, the learned counsel for the assessee first drew our attention to the highlights of the agreement which are as follows: Clause (1) Agreement to lease-Lessee … two appeals are directed against the orders of the CIT, City-IV, Mumbai, under Section 263 of the IT Act and the main common ground raised reads as under: "The learned CIT made a grievous error by assumption

Housing and Urban Development Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2006)102TTJ(Delhi)936

it is an exclusive definition vide P. Kasilingam v. P.S.G. College of Technology (1995) Supp 2 SCC 348. When we say that a word has … 1991, the Act was reintroduced w.e.f. 1st Oct., 1991. Again the same has been withdrawn by the Finance Act, 2000 w.e.f. 1st April, 2001. Issue under reference however relates to the Act as applicable between the period 1st … fixed deposit with public sector undertakings like SAIL, BHEL, etc. In the first two years under appeal, i.e., asst. yrs. 1992-93 and 1993-94, assessee has … under Section 2(7) of the Act would reveal that it excludes two items, namely, interest as referred under Section 42(1B) of the Reserve Bank of India Act (RBI Act), 1934, and (ii) discount on treasury bill, from the

Manoj Oswal Vs. the State of Maharashtra, Through Sr.P.i and Another

Court : Mumbai

Subject : Right to Information

Crime Branch, Pune alleging offences punishable under Section 500 of the Indian Penal Code and Section 66A of the Information Technology Act, 2000. 4 The complaint alleges that one Prataprao Govindrao Pawar is Chairman of M/s Sakal Papers Private Limited. This … its heavy toll on society and humanity as a whole, may be the inevitable evil consequences, whereof. …....” 42 In view of the above discussion, the Writ Petition fails. Rule is discharged. 43 At this stage, a

Assistant Commissioner of Income Vs. Jaipur Stock Exchange

Court : Income Tax Appellate Tribunal ITAT Jaipur

Subject : Direct Taxation

Reported in : (2007)108TTJ(JP.)393

in B-14 discretionary powers to estab- to 21, 32, 33, 38 and 42 are lish institutions, funds or given in Annex. A to the order … the assessee mainly for the reason that the assessee was allowed exemption under Section 11 for the very first year of the commencement of the activities of the assessee for the asst. yr.1988-89 by the Tribunal but … has erred in holding the assessee company as a charitable institution as per Section 2(15) of the IT Act, 1961 and directing the AO to treat the same accordingly.In ground No. 2, the Department is aggrieved that … learned CIT(A), dt. 14th July, 2003 for the asst. yrs. 1995-96 and 2000-01, respectively.The assessee has filed two cross-objections against these appeals.Since the issues in

Assistant Commissioner of Income Vs. Asian Exim International

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

Reported in : (2008)113TTJ(Asr.)427

proceedings under Section 148 of the IT Act in the case of appellant. I have also gone through the information available on case records. It is gathered from record that before resorting to action under Section 148 of … (supra) also supports this view. Further, in the case of Srikant G.Shah v. ITO (2007) 110 TTJ (Mumbai) 422 : (2007) 108 ITD 577 (Mumbai), the Tribunal, Bombay Bench has held that in a case where the

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 … facts. Issue there is whether an addition could be made under Section 42(2) of IT Act, 1922, when the resident company has charged 'no profits'

M/S. Abraham Memorial Educational Trust and Others Vs. C. Suresh Babu

Court : Chennai

Subject : Education

of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 85 of the Information Technology Act, 2000, Section 149 of the Electricity Act, 2003, Section 47 of the Water (Prevention and Control of Pollution) Act, 1974, … to be an inadvertent omission. On the contrary, according to him, the Legislature has consciously omitted the same. 42. But, this contention, in my considered opinion, deserves only to be rejected for more than one reason. First

A.Kamarunnisa Ghori. Vs. the Chairperson Prevention of Money Launderin ...

Court : Chennai

Subject : Criminal

Acts : Prevention of Money Laundering Act, 2002 - Section 5(1)(5), 8(3)(4), 8(6)(8), 71, 26(1), 42; Indian Penal Code(IPC) - Sections 420, 511, 420, 467, 468, 471, 406, 121, 121-A, 489-A, 489-B, 302, 304, 307, 308, 327, 329, 364A, 384 to 389, 392 to 402, 467, 489-A, 489-B, 412, 413, 414, 417, 418, 419, 420, 421, 422, 423, 424, 467, 471, 472, 473, 475, 476, 481, 482, 483, 484, 485, 486, 487, 488; Prize Chits and Money Circulation Scheme (Banning) Act, 1978 - Sections 4, 5; Code of Criminal Procedure(CrPC) - Section 173; Narcotic Drugs and Psychotropic Substances(NDPS) Act. - Sections 15 to 24, 25-A, 27-A, 29; Explosive Substances Act, 1908 - Sections 3 to 5; Arms Act, 1959. ; Wild Life (Protection) Act, 1972 ; Immoral Traffic (Prevention) Act, 1956 ; Prevention of Corruption Act, 1988 ; Explosives Act, 1884; Antiquities and Arts Treasures Act, 1972 ; Securities and Exchange Board of India Act, 1992 ; Customs Act, 1962 ; Bonded Labour System (Abolition) Act, 1976 ; Child Labour (Prohibition and Regulation) Act, 1986 ; Transplantation of Human Organs Act, 1994 ; Emigration Act, 1983 ; Passports Act, 1967 ; Foreigners Act, 1946 ; Copyright Act, 1957 ; Trade Marks Act, 1999 ; Information Technology Act, 2000 ; Biological Diversity Act, 2002 ; Protection of Plant Varieties and Farmers' Rights Act, 2001 ; Environment Protection Act, 1986 ; Water (Prevention and Control of Pollution) Act, 1974 ; Air (Prevention and Control of Pollution) Act, 1981 ; Constitution of India - Articles 226, 300-A

1967Paragraph-16Offences under the Foreigners Act, 1946Paragraph-17Offences under the Copyright Act, 1957Paragraph-18Offences under the Trade Marks Act, 1999Paragraph-19Offences under the Information Technology Act, 2000Paragraph-20Offences under the Biological Diversity Act, 2002Paragraph-21Offences under the Protection of Plant Varieties and Farmers' Rights Act, 2001Paragraph-22Offences … fact that the order of the Appellate Tribunal is ultimately subject to an appeal to this Court under Section 42 of the Act. By the time the petitioners go before the Appellate Authority and thereafter come up before … Act, 1994Paragraph-13Offences under the Juvenile Justice (Care and Protection of Children) Act, 2000Paragraph-14Offences under the Emigration Act, 1983Paragraph-15Offences under the Passports Act, 1967Paragraph-16Offences under the

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 … sales commission of Rs. 41,64,000. The payment of commission works out to 42 per cent in the case of Silver Line Appliances (P) Ltd., and … not adjudicated.2. The next ground is 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. yr. 1996-97 in ITA No. 1313/Mds/2002 … 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

Commissioner of Income Tax Vs. Catholic Syrian Bank Ltd. and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Reserve Bank of India Act, 1934 - Sections 42(1), 42(1A), 42(2), 42(3A), 42(5), 42(7), 58B and 58D; Banking Regulation Act, 1949 - Sections 24(1), 24(2A), 24(7) and 24(8); ;Income-tax Act, 1961 - Sections 37(1)

Reported in : (2003)183CTR(Ker)1; [2004]265ITR177(Ker)

is penal in character and consequently for infraction of law the same cannot be allowed as a deduction.6. Section 42 of the RBI Act, 1934, provides for cash reserves of scheduled banks to be kept with the RBI. … the CIT(A) allowed their claim holding that the payments are not in the nature of the penalty. The first appellate authority also relied on the decision of the Supreme Court in Mahalakshmi Sugar Mills Co. v. CIT