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NavIn Kumar Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

Reported in : (2006)99TTJ(Asr.)267

Gumber, the assessee, attended the proceedings and on his request, the penalty proceedings were adjourned for 14th Jan., 2000. On 13th Jan., 2000, the assessee submitted written submissions, vide letter dt. 12th Jan., 2000, which was not … not justified in sustaining the penalty of Rs. 30,000 each imposed by the AO under Section 271D of the IT Act, 1961, for each of the above-mentioned assessment years.3. The facts of the cases are that during the course … Harbans Lal, wherein he stated that he had advanced loans of Rs. 80,000 repayable in instalments of Rs. 100 per day. He further stated that

Secure Meters Ltd. Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Subject : Direct Taxation

mention here that this Bench has earlier also taken a similar view in its decision dt. 8th February, 2000 in ITA No. 667/Jp/1993 for asst. yr. 1986-87 in the case of Dy. CIT vs. Wolkem (P) Ltd. … losses, the depreciation, investment allowances, etc.2. The assessee had claimed special deduction under ss. 80HHC and 80HHE of the IT Act, 1961. The AO allowed special deduction under ss. 80HHC and 80HHE by computing the profits and gains of … the same including the income of the particular nature specified in any section under heading 'C' in Chapter VI-A and that here the deeming provisions … whereby he confirmed the action of AO in allowing deduction under ss. 80HHC and 80HHE (in Chapter VI-A) only after considering the brought forward losses,

Assistant Commissioner of Income Vs. Asian Exim International

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

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

rightly claimed by the assessee. 5. That the assessment was wrongly reopened by AO under Section 147 of the IT Act. 6. That the respondent requests for leave to add or amend any ground of appeal before cross-objection is … the law and facts of the case. 2. That even on merits the disallowance of deduction under Section 80-IB is wrongly made by the AO. The AO has gravely erred in deducting the amount of DEPB including

Deputy Commissioner of Income Tax Vs. Mangalam Cement Ltd.

Court : Income Tax Appellate Tribunal ITAT Jaipur

Subject : Direct Taxation

Reported in : (2005)92TTJ(JP.)1

has contended that in the appellant's own case in ITA No. 1584/Jp/1993 for asst. yr. 1992-93 dt.16th June, 2000, in which one of us, the learned JM was also a party, the issue of claim of deduction … would like to put forth the following. The claim of interest on capital borrowed under Section 36(1)(iii) of the IT Act, 1961 requires that such interest should be for the "purpose of business or profession". Therefore what is relevant … a different business. The assessee has also claimed separate deduction under Section 80-1 which was not considered by the Tribunal. Since assessee did not start

Moolchand Kharaiti Ram Hospital vs.workers Thru m.k.r.h.karamchar

Court : Delhi

Subject : Land Acquisition

referred to as “the Trust”) under Section 12A(a) of the Income Tax Act, 1961 (hereinafter referred to as “the IT Act”), Ex. MW-was a communication from the Income Tax Authorities, granting approval to the Trust under Section 10(23)(C)(via) of … expenditure and resultant surplus of the petitioner-Hospital for the years 1991-1992 to 2000-2001.17. In view of the two affidavits filed by him, MW-1 M.K. Kaushik … Trust under Section 10(23)(C)(via) of the IT Act, Ex. MW-(collectively) were letters, granting exemption, to the Trust under Section 80-G of the IT Act, Ex. MW-to MW-W.P.(C) 17938/2004 Page 9 of 32 were Income Tax Assessment orders of

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

1. These 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 … by the CIT under Section 263 to the AO to verify the assessee's claim for deduction under Section 80-I of IT Act, 1961.19. The narrow point for consideration before us is whether the CIT is right in

The Mavilayi Service Cooperative Bank Ltd. Vs. Commissioner Of Income ...

Court : Supreme Court of India

Subject : Direct Taxation

Societies or Banks in existence at the commencement of the Kerala Co-operative Societies (Amendment) Act, 1999 (1 of 2000). Provided further that if the above principal object is not fulfilled, such societies shall lose all characteristics of … and in particular, whether these assessees are entitled to such deductions after the introduction of section 80P(4) of the IT Act by section 19 of the Finance Act, 2006 (21 of 2006) with effect from 01.04.2007. It may be … raise important questions as to deductions that can be claimed under section 80P(2)(a) (i) of the Income-Tax Act, 1961 (“IT Act”); and in particular, whether

A.P.S.E.B. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2004)85TTJ(Hyd.)30

yrs. 1968-69 to 1970-71. The AO accepted this return on 24th Feb., 2000, vide his order made under Section 143(3) of the Act. The CIT … object to make profit at all and the Electricity (Supply) Act contains no provision for declaration of dividends.5.6. Section 80 of the Electricity (Supply) Act deems the board as a company for the purposes of IT Act and … of Part-n and Part-II of Schedule VI of the Companies Act, 1956, as required by Section 115JA(2) of the IT Act. In the circumstances, it is submitted that minimum alternate tax under Section 115JA could not be levied.5.3. The

Escapade Resorts (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2008)303ITR118(Coch.)

of the assessee is with regard to levy of interest under Section 234B and under Section 234C of the IT Act, 1961, when the tax liability arises under the provisions of Section 115JA of the Act. The assessee is … of power and those enterprises engaged in developing, maintaining and operating infrastructure facilities under Sub-section (4A) of Section 80-IA are exempted from the levy of MAT, so that the incentive given to infrastructure development is not affected.

Subhash Gupta (individual) Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

Subject : Direct Taxation

Reported in : (2003)78TTJ(JP.)692

at nil income. Accordingly, the AO has completed the assessment at nil income vide order dt. 15th Feb., 2000, passed under Section 143(3) and has also initiated penalty proceedings under Section 271(1)(c).5. In reply to the show-cause … by the CIT(A), dt. 30th March, 2001, confirming the penalty, imposed by the AO under Section 271(1)(c) of the IT Act amounting to Rs. 14,45,240. "1. On the facts and in the circumstances of the case the learned CIT(A) … notes : (2) The assessee made export sales but deduction under Section 80HHC is not applicable due to losses. He fulfils other conditions entitled under