Judgment Search Results Home > Cases Phrase: aircraft amendment act 2007 section 12 amendment of section 11 Court: income tax appellate tribunal itat mumbai Page 16 of about 352 results (0.161 seconds)

Acit - 1 (3) Vs. Weizmann Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... profits and gains of business or profession for any previous year, deduction of depreciation under section 32 shall be mandatory. therefore, the provisions of section 32(2) as amended by finance act, 2001 would allow the unabsorbed depreciation allowance available in the a.y. 1997-98, 1999-2000, 2000-01 and 2001-02 to be carried forward to the ..... .2001-02 got carried forward to the assessment year 2002-03 and became part thereof, it came to be governed by the provisions of section 32(2) as amended by finance act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever". 7. not only on legal ..... the issue under consideration is squarely covered by the decision of a coordinate bench in the case of dcit vs. m/s glenmark laboratories ltd in ita no.4155/m/2007 for the assessment year 2004-05, wherein the tribunal following the decision of the itat (sb) in the case of syncome formulations (i) ltd (supra) has affirmed .....

Mrs. Mudra G. Nanavati Vs. the Dcit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... concession or takes a view which it is impossible to arrive at or there is another view in the field or there is a subsequent amendment of the statute or reversal or implied overruling of the decision by a higher court or same such or similar infirmily is manifestly perceivable in ..... ble high court, their lordships look note of revenue's stand as follows. referring to the observations of godavandevi (supra), that an all india tribunal acting anywhere should follow the decisions of any other high court on the point, it was submitted by the counsel of the revenue that this observation itself ..... vish corporation p. ltd. in it(ss)a no. 364 & 506/m/2003. (2) delhi itat's order dt. 29/8/2007 in the case of atul glass industries ltd in it(ss)a nos. 237 & 317/del/2003. (3) delhi itat's order dt. 21/3 ..... /2007 in the case of smt. (sic) nos. 81 & 79/del/2003 (4) pune itat's order dt. 26/9/07 in the .....

Satellite Television Asian Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)99ITD91(Mum.)

..... 31st march, 1983.the matters specified therein are activities like drilling and extraction of mineral oils, providing of any services and facilities for ships, aircrafts, etc.4. another example is that of foreign exchange regulation act, 1973 (fera), where it has been stated that it applies to all citizens of india outside india and to branches of agencies outside ..... v. cit has observed that there is no scope for importing into the statute words which are not there. such importation would be not to construe, but to amend the statute. even if there be a casus omissus the detect can be remedied only by the legislation and not by judicial interpretation. the same principle is reflected in ..... it apart that it is not a sale, there is not even a right to use which could be deemed as a sale in the light of the constitutional amendment. in our opinion, the subject-matter of agreements entered into between the assessee and the channel companies on the subject of "ad airtime" is only a permissive right .....

Veena Investments (P) Ltd. Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... on by him. the above definition was in force between 1-4-1997 to 31-3-1999. the definition of 'assets' under section 2(ea) of wealth tax act underwent an amendment with effect from 1-4-1999 and it was provided as under: (i) any building or land appurtenant thereto (hereinafter referred to as 'house'), whether used for residential ..... as assets for the purpose of computation of net wealth as per the provisions ofsection 2(ea) of the act (ii) motor car other than those used in the business of running on hire or stock-in-trade; (iv) yachts, boats and aircrafts, other than those used for commercial purposes; (vi) cash in hand, in excess of rs. 50,000 ..... of individuals and hindu undivided families and in case of other persons, any amount not recorded in the books of account. 11. the definition of 'assets' in section 2(ea) of wealth tax act is an exhaustive definition, which .....

Sumit Bhattacharya Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... than the united states of which such a person is a resident and/or citizen optionees who are subject to section 1g(b) of the securities exchange act of 1934, as amended (the "exchange act") including officers of the company, may not realize taxable income from the exercise of non statutory stock options for periods of up to six months after ..... finalize this draft order, and grant of tour to one of us for the said purpose, that the members constituting this special bench could finally meet on 10th december 2007 to discuss those issues as also deliberate on the proposed draft order. it is in this backdrop that there is a delay in disposal of this appeal, which is ..... the matter, we would like to place on record the fact that though this appeal was finally heard in the month of april 2007, our decision thereon, could only be finalized only in the month of december 2007. the unusual delay in disposing of this special bench matter was due to the fact that shortly after the appeal was heard, .....

Avaya Global Connect Ltd. Vs. Acit Range 7(3)

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... practice adopted by the assessee. a chart indicating the percentage of write off on each component of closing stock from a.y.1998-99 till a.y. 2007-08 has been filed before us. it has been contended that the percentage of write off keeps varying in different years indicating that there has been proper ..... follows: a scrutiny of the definitions of 'apparent consideration' given in clause (b) and transfer' given in clause (1) of section 269ua of the income tax act, 1961, would unmistakably indicate that the transfer to which the provisions of chapter xx-c are intended to apply, are transfers under agreements or contractual transfers and not ..... the finance act, 1999. he drew out attention to the memorandum explaining the provisions in finance bill, 1999. the relevant portion of which reads. 3. with a view to recognize demergers, slump sales and to rationalize the existing provisions of amalgamation, a number of amendments have been proposed on the basis of the following broad principles: ( .....

Michigan Engineers (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1986)19ITD45(Mum.)

..... , with effect from 1-4-1976 and has partially replaced development rebate in respect of ships, aircrafts or machinery and plants installed after 31-3-1976. this section was amended by the finance (no. 2) act, 1977 with effect from 1-4-1978. in the course of the discussion of the bill in the lok sabha, the then finance minister ..... though they might be engaged in the manufacture of low priority items.the explanatory note on the provisions relating to direct taxes further highlighted the objective of the amendment as follows : the finance act has substituted sub-clauses (ii) and (iii) of clause (b) of section 32a(2) referred to above by two new sub-clauses. under the new provisions ..... of any article or thing specified in the said list.it is also seen that the finance (no. 2) bill, 1977 proposed amendment of section 32a as follows : 9. amendment of section 32a.-in section 32a of the income-tax act, with effect from the 1st day of april, 1978,- (i) in clause (b), for sub-clauses (ii) and (iii), .....

Metropolitan Trading Co. Vs. the D.C.i.T., Spl. Range 9

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)89ITD662(Mum.)

..... by the various benches of itat which have been relied upon by the learned counsel. in view of this conflict in judicial opinion, the explanation to section 263 was amended by the finance act 1988 and the following clause (c) was inserted w.e.f.1.6.88. "(c) where any order referred to in this sub-section and passed by ..... matters considered and decided by the appellate authority. thus, there will be partial merger and not the merger of the whole order. by the finance act, 1988, the provisions of section 263 have been amended to clarify that the commissioner would be competent to revise an order of assessment passed by an assessing officer on all matters except those that have ..... items had merged in that of the commissioner (appeals); held, that the explanation to section 263(1) which was substituted by the finance act, 1988, w.e.f. 1.6.88 was again amended by the finance act, 1989, with retrospective effect from 1.6.88 to the effect that where any order referred to in the sub-section and passed .....

Deputy Commissioner of Vs. Oman International Bank Saog

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)100ITD285(Mum.)

..... year. in order to eliminate the disputes in the matter of determining the year in which a bad debt can be allowed and also to rationalise the provisions, the amending act, 1987 has amended clause (vii) of sub-section (1) and clause (z) of sub-section (2) of the section to provide that the claim for the bad debt will be allowed in ..... if the bad debt or part thereof is written off as irrecoverable in the accounts of the assessee. what is the effect of substitution made by the direct tax laws (amendment) act, 1987 in the matter of deductibility of a bad debt is the core issue. in our view the law has done away of the onerous obligation on the part of ..... the first time specific provisions were made regarding deduction of the write off of bad debt in the year 1939 by the income-tax (amendment) act, 1939, which introduced provisions of section 10(2)(xi) to the 1922 act, which read as under: (xi) when the assessee's account in respect of any part of his business, profession or vocation are not .....

Siemens Aktiengesellschaft Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1987)22ITD87(Mum.)

..... statute or is wholly or partially incorporated therein.it has also been stated that the rule that the repeal or amendment of an act which is incorporated in a later act has no effect on the later act, or on the provisions incorporated therein is subject to certain exceptions. in the present case we are concerned with ..... alone could be considered. according to the learned counsel this was an instance of legislation by incorporation, and in cases of legislation by incorporation, any subsequent amendment in the original statute would not have any effect in interpreting the meanings to be given to particular terms as occurring in the statute in which such ..... include income in the form of rents, royalties, interest, dividends, management charges, remuneration for labour or personal services or income from the operation of ships or aircraft but shall include rents or royalties in respect of cinematographic films.7. the term "royalty" not having been defined in the d.t.a. agreement, the contention .....