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

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

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

Thalanga Copper Mines (P) Ltd. Monte Cello Corporation NV subsequently sold Monte Cello BV to Sterlite. In July, 2000, Sterlite's telecommunications cables and optical fibre business was demerged into a new company, Sterlite Optical Technologies Ltd. ("SOTL").66. … of the Court. The expression "sufficient cause 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. Such expression has also been used … v. CIT .... This Court accordingly held that the amount of Rs. 84,633 was an allowable expenditure. This case too is of no assistance to

Wipro Limited Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2005)96TTJ(Bang.)211

filed along with the return, it is seen that the assessee-company has claimed exemption under Section 10A of the IT Act in respect of income from Software Technology Parks (STPs), Electronic Hardware Technology Parks (EHTPs), etc. to the extent … Systems Division, STPK/G175/97- 18-11-1997 1999-2000 1999-2000Chennai 111, Mount Road, 98/2761 Guindy, Chennai-600Pune Wipro Ltd., CTS, 685/2B STP/P/VIII(A) 10-3-2000 2000-01 2000-01Gurgaon Wipro Ltd., Flat No.201, PCMG/PSE/5 19-3-2000 2000-01 2000-01Mysore -- -- -- 2000-01 2000-01__________________________________________________________________________________________ was filed by the … not assessable." 18.1 The appellant is aggrieved by the addition of Rs. 84,34,064 towards the interest under Section 244A purportedly received by the appellant during

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

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

and 1229/All/1989 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

Deputy Commissioner of Income Tax Vs. Sahara India Financial Corpn.

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

Reported in : (2003)81TTJLuck389

which is available at p. 1595 to 1621 of the paper book. The judgment is dt. 12th May, 2000. In the public interest litigation, the allegations of irregularities were made against Sahara groups of companies also. Although … In the case of CIT v. Quick Travels (1993) 199 ITR (St) 84, the Hon'ble Supreme Court of India dismissed a SLP by the Department … the material, completed assessment at Rs. 10,45,77,81,760 vide assessment order dt. 23rd April, 1999, under Section 144 of the IT Act, 1961. (ix) The assessee challenged treatment given by the AO to the special audit report before the learned

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

query to justify deduction of the 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 dt. 6th July, 1996, for manufacture … bad in law and void ab initio. 1.1 That the impugned assessment order passed under Section 143(3)/-148 of the IT Act (the Act) and the notice of demand issued in the name of a non-existent entity is illegal, bad … total sale of Rs. 2,43,80,045 the assessee debited gross royalty of Rs. 84,01,160 as payment to SWC. In response to AO's query to justify deduction

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)

had allowed only 1/14th amount towards royalty to the assessee by invoking the provisions of section 35A of the IT Act. He adopted the same methodology. Consequently, apart from a sum of Rs.4,05,671/- which was 1/14th of the amount … issue. ASSESSMENT YEAR 1997-98 6. The Assessing Officer noted that the assessee had debited an amount of ` 84,01,160/- as payments towards royalty. The assessee had rendered its justification, as noted by the Assessing Officer, vide two

Sony India Pvt. Ltd. Vs. The Commissioner of Trade and Taxes

Court : Delhi

Subject : Service Tax

Terminals'. The Assessee there sought to rely on the definition of the expression 'computers' in the Information Technology Act, 2000 in support of the plea for an expanded interpretation of the term for the purposes of VAT as … product, the Appellant has raised the question of deemed acceptance of the determination application of the Appellant under Section 84 (5) read with Section 84 (6) of the DVAT Act and Rule 58(5) of the DVAT Rules. 16.

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

an appeal filed by the assessee 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 are lengthy and narrative. However, at … the assessees. decision of the Andhra Pradesh High Court. The question that arose was under Section 43(5) of the IT Act. The Bench found that the transaction in question could not be held to be a speculative transaction and, … example, in the settlement No. 11 there is net profit of Rs. 84,09,230. It is highly improbable that client may not acknowledge the transactions where

Late Shri Mukund V. Kapadia Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2002)82ITD489(Mum.)

statement given before the ADI on 10th Aug., 1987, when no other proceedings were pending against him under the IT Act, the assessee, in answer to question No.4, stated the names, addresses and the amounts received from the aforesaid … of income on 30th Nov., 1987, declaring a total income of Rs. 51,900. This return was filed under Section 139(2) of the Act. While completing the assessment, the AO noted that in the course of certain enquiries,

Shri BhavIn J. Vakil Vs. the D.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)282ITR32(Mum.)

income and therefore issue of notice Under Section 148 is clearly within the parameters of Section 147 of the IT Act. It is submitted that the cases relied upon by the ld. counsel for the assessee are on different … is also not applicable to the facts of the assessee's case. In that case, assessments for the AYs 84-85 to 88-89 were involved and certain receipts were claimed as capital receipts in the return of income and