Judgment Search Results Home > Cases Phrase: border security force act 1968 section 17 mutiny Court: income tax appellate tribunal itat mumbai Page 1 of about 139 results (0.175 seconds)

Bank of Baroda Vs. Joint Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)2SOT804(Mum.)

..... and includes an undertaking engaged in any other industry, or in any trade, business or service which may be regulated by parliament by law, central industrial security force act, 1968, section 2(b).to be an industrial undertaking the work of manufacture or production should be carried on in one or more factories by any person ..... undertaking and the grounds of appeal have been approved by the cod (cabinet committee on disputes). with regard to first issue ie., interest on purchase of securities for the broken period, both the parties agreed that this issue is covered in assessee's favour by the bombay high court decision in the case of ..... the meaning of this expression by referring to its definitions in sister legislations and failing that to adopt the common parlance meaning. in other words, as the act does not define the expression 'industrial undertaking', reference to its definition in similar enactments or adoption of its meaning is inevitable.though the term 'industrial undertaking' .....

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96ITD1(Mum.)

..... essentially in the nature of subscription funds.referring to the provisions of section 94(7) introduced by the finance act, 2001, the learned special counsel argued that initially it laid down the condition of holding of securities three months prior and three months subsequent to the declaration of dividend or, as the case may be, income ..... business. as a prudent businessman the assessee took steps when he was more than reasonably certain of the outcome of the transaction. furthermore, there was not much force, after the enactment of the provisions of section 14a, in the argument that the purchase price of the unit was indivisible. honble rajasthan high court in ..... macniven case facts were altogether different from ramsay and for that reason the different conclusion was reached. the learned cit, dr argued that there was not much force in the contention that the assessee did not claim deduction of any expenditure. what the assessee called claim of loss was in fact claim of expenditure. the .....

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

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the observations (1) in the absence of bills or contract notes it cannot be commented whether the transactions are in compliance of the provisions of the securities contract (regulation) act, 1956 and (2).in the absence of the supporting proof in the form of contract notes, proof of prevailing market price on the date of transactions ..... a criminal complaint was filed.police investigation was involved. cheques dishonoured. a criminal suit was filed. all that is a matter of record. we see considerable force in these contentions of the assessee. we have discussed various considerations and legal issues involved in relation to an assessee's claim of deduction of a business loss ..... carefully considered the rival submissions. the treatment given by the assessing officer is in accordance with the statutory provisions of section 45(2). we do not see force in the argument that these provisions come into play only when there is profit or gain and not when there is loss. for that matter even the .....

Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)241ITR43(Mum.)

..... provision in the law is being amended, retrospectively, from 1st april, 1972, i.e. the date from which the relevant provision as it stands at present, was brought into force." the finance act, 1984, reduced the quantum of deduction to 50 per cent w.e.f. 1st april, 1985. the cbdt circular no. 387, dt. 6th july, 1984 (chaturvedi ..... (sc) where their lordships held that interest receivable was an unambiguous expression; it could only mean the amount of interest calculated in accordance with the terms of the securities; it could not mean interest receivable minus the amount spent in receiving the same. it was accordingly contended that in s. 80-o the legislature having consciously used ..... the word 'income' does not connote the same meaning.reference has been made to s. 10(15) of the it act, 1991, which refers to income by way of interest, premium on redemption or other payment on such securities.9. the learned counsel pointed out that the word "income" used in s.80-o should not be given undue .....

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

Court : Income Tax Appellate Tribunal ITAT Mumbai

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

..... hand, learned departmental representative relied upon the orders of the revenue authorities below.54. after considering the arguments of both the sides and the facts of the case, we find force in the arguments of the learned counsel for the assessee. the hon'ble apex court in the case of allied motors (p) ltd. (supra) has held that proviso to ..... the provisions of section 43(1) and other allied provisions pertaining to depreciation allowance, etc. 30. in view of the discussion in the foregoing paragraphs we do not see force in this ground of appeal no. 4 of the assessee seeking deduction of the sum of rs. 11,13,819 under section 36(1)(iii) of the ..... . learned ao disallowed the loss by applying explanation appended to section 73 of the act. the learned first appellate authority has allowed the loss to the assessee on the ground that assessee was not engaged in the business of purchase and sale of shares. the securities were also not shown as stock-in-trade.the assessee has clearly shown it as .....

Nusli N. Wadia Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)46ITD31(Mum.)

..... reserve bank notification no. fera 110/51-rb, dated 17th august, 1951 (as amended up to 13th march, 1963), indian rupee securities and shares could be freely issued or transferred to persons resident in nepal without the reserve bank of india's approval. this notification ..... intents and purposes, the assessee is managing that show and has disguised the same as belonging to the nepal company, which action borders on tax evasion.11. we have heard the parties at length. the assessee has been granted a "certificate of registration" ..... nepal or bhutan of any business carried on by a company or a corporation incorporated or established under any law in force in india, nepal or bhutan and yet further in relation to a branch situated in nepal or bhutan of any ..... bombay, that the assessee was to be registered as a citizen of india under section 5(1)(a) of the citizenship act, 1955, and vide this communique, the assessee was asked to renounce his present nationality by applying to the british mission in .....

Rubab M. Kazerani Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)97TTJ(Mum.)698

..... basically relied on the points mentioned by the learned am in his order. besides this, he has submitted that the mou is in the nature of assured security deposit in which the basic duty of shahrooq ali khan was to find out a buyer and obtain necessary clearance certificates for transfer. therefore, the amount of ..... second party of buyers of the property and the sum of rs. 5.50 crores paid by the second party to the. assessee was described as "assured security deposit". neither party filed statement of transfer in prescribed form 37-i before appropriate authority nor the registration of the document was done. in contradistinction, when the ..... the assessee's counsel.13. the learned departmental representative further submitted that section 269uc of the it act is a non obstante clause which says "notwithstanding anything contained in the transfer of property act, 1882, or in any other law for time being in force..." therefore, for this purpose, section 2(47)(v) and other provisions of law do .....

Shri Mahesh J. Patel Vs. the Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)109ITD35(Mum.)

..... ltd., alongwith tenancy right, furniture and telephone, etc, is a capital asset and not share of the indian company per see as defined under the companies act or securities contracts (regulation) act 1956.13. recently, the special bench of itat chennai in the case of shri r.m. valliappan v. acit 103 itd 63 (chen)(sb) held ..... these transactions were incurred without actual delivery but from that the assessing officer could not draw inference that the transactions were not genuine. we therefore see considerable force in the contention of the assessee that the loss claimed should be treated as speculative loss. we therefore restore the issues relating to the assessee's claim ..... reported in 155-itr 152(sc) and certain tribunal decision as mentioned in the synopsis filed by the assessee.on consideration of the matter, we see considerable force in these contentions of the ld. counsel. it is settled legal position that any loss arising to the assessee in the revenue field on account of non .....

international Computers India Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)63ITD195(Mum.)

..... of manufacture or production of articles not specified in the eleventh schedule. further, even in section 32a(4), which provides for keeping a reserve, as a condition for securing the deduction, we do not find any phraseology to accept the contention of the revenue.the object of all interpretation is to discover the intention of parliament but the ..... go beyond the abovesaid factual finding that there was no extinguishment of any right of the assessees, when the plant or machinery in question was hired out. there is force in this argument also. no doubt, a copy of the "lease agreement" entered into by one of the assessees, viz., sundaram finance limited, was produced before us ..... as such cannot be a partner in another firm though its partners may be partners in the other firm in their individual capacity. either under the repealed act or the act a firm is liable to be separately assessed to tax as well as all its partners in their capacity as individuals if they have taxable income, the .....

Ms. Rubab M. Kazerani Vs. the Jt. Commissioner of I.T.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)91ITD429(Mum.)

..... that the assessee did not get mou registered nor paid the stamp duty because the mou was not treated as transfer of property. it was simply an assured security deposit. it is also submitted that the circular 495 mentioned by the learned counsel is also not applicable to the facts of the present case. the learned ..... basically relied on the points mentioned by the learned accountant member in his order. besides this he has submitted that the mou is in the nature of assured security deposit in which the basic duty of shahrooq alikhan was to find out a buyer and obtain necessary clearance certificates for transfer. therefore, the amount of rs. ..... assessee counsel.13. the learned departmental representative further submitted that section 269uc of the income-tax act is a non-obstante clause which says "notwithstanding anything contained in the transfer of property act, 1882, or in any other law for time being in force..... "therefore for this purpose, section 2(47)(v) and other provisions of law do .....