Judgment Search Results Home > Cases Phrase: aircraft amendment act 2007 section 12 amendment of section 11 Court: income tax appellate tribunal itat mumbai Page 2 of about 352 results (0.152 seconds)

General Glass Co. (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108TTJ(Mum.)854

..... which are merely for financial aspects and which in no way impact the original mou since the terms and conditions basically for development of the property were not amended. hence the mou dt. 10th may, 1995 is the mou which will be the deciding factor for the chargeability of the capital gain. in view of ..... the respondent and/or its directors shall not be held liable and responsible for any criminal liabilities including criminal proceedings under section 138 of the negotiable instruments act. the respondent shall forthwith intimate to the petitioner the fact of any litigation civil/criminal being initiated against them as regards the said project. (15) ..... due and payable by them to the petitioner the respondent had failed and neglected in fulfilling, its financial obligations, liabilities and commitments. the respondent by its conduct/act of refusing to bring into existence the aforesaid security, viz. the flats at "lok everest" has resulted in depriving the petitioner of its security. the .....

Assistant Commissioner of Income Vs. Capt. K.P. Singh

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)107ITD82(Mum.)

..... by the hon'ble supreme court in the case of cit v. tejaji frasaram kharawalla ltd. not before section 4(3)(vi) was amended, w.e.f. 1st april, 1955, by finance act, 1955. this amendment, it appears, resulted in considerable apprehension amongst the salaried employees as to how can they be expected to maintain meticulous details and evidence of ..... or during the course of taking an aircraft from one place to another. a commercial pilot, in the course of performance of his duties, has to stay at various places not for performance of duties but ..... where duties of office are to be performed. the question of expenses to meet which the allowances are given, becomes relevant only when the pilot steps out of the aircraft and stays in a place other than the place of his posting, and, therefore, these expenses cannot be said to be incurred during the performance of the duties .....

Supreme Industries Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... to set off and carry forward of loss and allowance for depreciation shall apply accordingly, notwithstanding any-thing contained in any provisions of the act. this section was amended by the finance act, 1978 with effect from 1-4-1978 and again by 1998 with effect from 1 -4-1999. this section deals with the carry ..... may be, the immediately succeedingprevious year. (6) where in a scheme of amalgamation, the amalgamating company sells or otherwise transfers to the amalgamated company any ship, aircraft, machinery or plant, in respect of which investment allowance has been allowed to the amalgamating company under sub-section (1), (a) the amalgamated company shall continue ..... part of total turnover. the view taken by the jurisdictional high court has been approved by the apex court in the case of cit v. lakshmi machine works (2007) 290 itr 667. therefore, the impugned issue is squarely covered against the revenue. we confirm the order of the commissioner (appeals). accordingly, revenue f ails. .....

Sm Energy Teknik and Electronics Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)109TTJ(Mum.)34

..... 1992, the central government may from time-to-time formulate and announce by notification in the official gazette the export and import policy and may also in like manner amend the policy. in exercise of powers vested in section 5, ftrda, 1992, ministry of commerce, government of india, had issued a notification on 31st march, 1992 ..... contained in exchange control manual. (viii) the payment of customs duty and customs clearance comes into operation only in such cases where the carrier of the goods (aircrafts, ships and surface transport) takes out or bring in the goods and liable to file what is known as customs manifest or bill of entry. (ix) taking ..... customs duty, which the state collects in respect of goods imported into or occasionally, exported out of its frontiers. this concept was enacted into an act as customs act, 1962/customs tariff act, 1975, etc. which enabled the state to collect customs duty and prevent import export of goods listed in so-called negative list. therefore, it .....

Glaxo Smithkline Pharmaceuticals Ltd. (Formerly Glaxo India Ltd.) and ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... than the profits from export of manufactured goods in as much as in such situation, the assessee would not be entitled to deduction u/s 80hhc as per the amended provisions. on the other hand, if the profits from export of manufactured goods, as per the calculation of assessee, is more than the loss in traded goods export ..... department of chemicals and petrochemicals". 10.1 ground no.9 and 10 are the additional grounds raised in the course of present appellate proceedings vide letter dated 9.8.2007. the facts leading to the present issue are that during the previous year relevant to assessment year 1998-99, assessee received a demand dated 10th june, 1997 ..... appreciating that the items of miscellaneous income are not in the nature of income as specified in clauses (iiia) (iiib) and (iiic) of section 28 of the act and therefore, ao rightly reduced 90% of various items of miscellaneous income for computation of deduction under section 80hhc". 18.1 consequent to the conflicting order of the cit .....

Asstt. Cit, Rg. 4(1) Vs. Claridges Investments and

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... in the case of rajesh kumar (supra).85. the learned counsel pointed out that the observations of the apex court have since been enshrined in the act by virtue of an amendment by finance act, 2007. sub-section (2a) of section 142 is now followed by a proviso:- "provided that the assessing officer shall not direct the assessee to get the ..... court held that bad debt was not written off in the books of account and the precondition laid down in the provisions of section 36(1)(vii) as after the amendment with effect from 1-4-1989 was not satisfied. facts of that case also are altogether different. in the case of south india surgical co. ltd. v. asstt ..... supreme court in the cases of cit v. walchand & co. (p) ltd. ; travancore titanium products ltd. v.cit ; shahzada nand & sons v. cit builders ltd. v. cit (2007) 288 itr 12 (sc) duly supported the transactions of the assessee-company with amc.40. lastly, the learned counsel submitted that neither the learned special auditor nor the assessing officer .....

Ms. Aishwarya Rai Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD166(Mum.)

..... the extent of the amount of such expense, deduction or allowance, the amount will be treated as undisclosed income for the purpose of chapter xiv b of the act. the amendment brought in the ambit of undisclosed. income any false claim of expense, deduction and allowance. the term expense is something, which is incurred for earning the ..... course of search which led to the inquiry and in this process this undisclosed income was detected. he submitted that in the amended definition of undisclosed income as contained in section 158b(b) of the act false claim of exemption of income is covered and therefore the assessing officer was right in including this income in the block ..... which has not been or would not have been disclosed for the purposes of this act, or any expense, deduction or allowance claimed under this act which is found to be false.... perusal of the above provision shows that this section was amended by the finance act 2002 with retrospective effect w.e.f. 1.7.95. the last line .....

Mercator Lines Ltd. Vs. Deputy Cit, Range 5(1)

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... industrial undertaking is defined and according to it industrial undertaking means any undertaking which is engaged in different type of activities including the operation of ships or aircrafts or construction or operation of rail system. the learned counsel for the assessee has also placed reliance upon d the following decisions:cit v. textile machinery corporation ..... the case of shirke construction equipments ltd. (supra) referred by the assessee has been overruled by the apex court in cit v. shirke construction equipments ltd. (2007) 291 itr 3801 and also in the case of ipca laboratory ltd. v. dy. cit(2004) 266 itr 521 in which it has been held that the ..... 80-ia(12) industrial undertaking has not been specifically defined but it has adopted the meaning assigned to it in explanation to section 33b of the act. in explanation to section 33b industrial undertaking is defined and it means any undertaking which is mainly engaged in the business of generation or distribution of electricity .....

Dwarikesh Trading Co. Pvt. Ltd. Vs. the Asst. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD295(Mum.)

..... the order, with a view to rectifying any mistake apparent from record, amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the assessing officer: the tribunal has to act under this sub-section and rectify the order if a mistake is there ..... cit(a) and finding no material on record came to the conclusion and reversed the finding of the cit(a). no question, therefore, arise for reconsidering its finding and amending the order dated 30^thaugust, 2001 8. the application is to be partly allowed, subject, however, to a direction to exclude interest on cash basis from the assessments, ..... of the aforesaid provision has been defined and explained in a number of judicial pronouncements. it is an established position of law that the power of the tribunal to amend an order passed by it under sub-section (1) of section 254 is limited. such power is confined to rectification of mistake 5 which are apparent from record .....

Mangalore Refinery and Vs. Dy. Director of Income-tax (it)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)113ITD85(Mum.)

..... payments and if it was not so deducted, then calling upon them to show as to why the provision of section 40(a)(i) of the income-tax act, 1961 ("the act" for short), should not be invoked in the assessee's case and why the entire interest paid outside india should not be disallowed in the course of assessment ..... of such no objection certificate. in the second fold of submission assessee has contended that its case is covered under explanation-2 to section 9(1)(vii) of the act. it has also been pleaded that drawings and designs were imported after getting approval from finance ministry for availing foreign currency loan for import of capital goods, design ..... proceedings, in the course of which proceedings for the imposition of penalty have been commenced. this section was amended with effect from 1-4-1989 and the limitation period is substantially reduced. action of commissioner under section 263 of the act is to be taken within two years from the end of the financial year in which the order .....