Judgment Search Results Home > Cases Phrase: aircraft amendment act 2007 section 14 amendment of section 11b Court: income tax appellate tribunal itat cochin Page 1 of about 1 results (0.181 seconds)

A.A. Salam Vs. Assistant Commissioner of Wealth

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2007)106TTJ(Coch.)1140

..... learned authorised representative can be summarized as under: the assessees are carrying on the cashew export business as proprietors. the charging provisions in respect of the wt act have been substantially amended by the finance act, 1992, w.e.f. asst. yr. 2003-04. the cbdt has issued a circular no. 636, dt.31st aug., 1992, (1992) 107 ctr (st.) ..... of the business or running them on hire or as stock-in-trade are excluded from the ambit of "asset". even in the case of yachts, boats and aircrafts which are used for commercial purposes are also excluded from the definition of "asset". we will have to take into consideration while interpreting clause (vi) which specifically deals ..... is used by the assessee as stock-in-trade, such asset shall be deemed as excluded from the assets specified in this sub-clause; (iv) yachts, boats and aircrafts (other than those used by the assessee for commercial purposes); (vi) cash in hand, in excess of fifty thousand rupees, of individuals and huf and in the .....

Smt. Meera Jacob Vs. Wto

Court : Income Tax Appellate Tribunal ITAT Cochin

..... first take up the appeals relating to assessment years 1989-90, 1990-91, 1991-92 and 1992-93 as we will have to decide the issues considering the pre-amended wealth tax act.wta nos. 31,32,33 and 34 (coch.)/2006-assessment years 1989-90,1990-91, 1991-92 and 1992-93.3. the briefly stated facts pertaining to these ..... the use of the business or running them on hire or as stock-in-trade are excluded from the ambit of "asset". even in the case of yachts, boats and aircrafts which are used for commercial purposes are also excluded from the definition of "asset". we will have to take into consideration while interpreting clause (vi) which specifically deals with the ..... silver, platinum or any other precious metal or any alloy containing one or more of such precious metals (other than those used as stock-in-trade); yachts and boats and aircrafts (other than those used for commercial purposes), cash in hand in excess of rs. 50,000 of individuals or hufs and in case of any other person any amount not .....