Judgment Search Results Home > Cases Phrase: border security force act 1968 section 17 mutiny Sorted by: recent Court: income tax appellate tribunal itat mumbai Page 1 of about 139 results (0.219 seconds)

Rajesh R. Karnani, Mumbai Vs. Asst. Cit 12(1)

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... same, in fact, requires no separate cost. further, only a long term service contract or engagement understanding would, apart from retaining the resource, provide it with security of an assured source of income and, thus, certainty and stability, so essential for retention. it needs to be appreciated that insurance can be taken only of/qua ..... prime human resource, which it has sought to insure. the basis of the said valuation, which is fundamental to an insurance contract, premium to keep in force which is being claimed as incurred wholly and exclusively for business purposes, being ostensibly only the loss that would arise on his services being not available, has ..... of income tax (appeals)-23, mumbai ('cit(a)' for short), dismissing the assessee's appeals contesting its assessments u/s.143(3) of the income tax act, 1961 ('the act' hereinafter) for three consecutive assessment years (a.ys.), being ay 2006-07 to 2008-09. the appeals raising common issues, were heard together, and are .....

Ddit and Adit Vs. Balaji Shipping (Uk) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... would apply to interest income generated, for example, by the cash required in a contracting state for the carrying on of that business or by bonds posted as security where this is required by law in order to carry on the business: in such cases, the investment is needed to allow the operation of the ships or ..... 25,837/- against the total freight receipt of rs. 40,03,44,489/- by applying net profit rate of 7.5% prescribed under section 44b of income-tax act, 1961 (the act). however, the tax liability was declared nil by claiming exemption under article 9 of indo-uk treaty. the copy of tax residency certificate (trc) was also filed ..... connecting carriers not owned or chartered by the assessee. consequently, the income from the entire freight receipts of the assessee was excluded from taxation under section 44b of the act.6. however, the cit(a) examined the legal position in detail while adjudicating the grounds raised by the revenue relating to assessment year 2002-03. after referring .....

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

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... as on the date of transfer as under:------------------------------------------------------------------fixed assets (book value) 453.47------------------------------------------------------------------net current assets 4,76.42------------------------------------------------------------------total assets (a) 929.89------------------------------------------------------------------secured loan 706.83------------------------------------------------------------------unsecured loan 2,555.00------------------------------------------------------------------total liabilities (b) 3,261.83------------------------------------------------------------------net worth (a-b) 2,331.94 accordingly, the net worth ..... is scrutinized by the company court and sanctioned by an order made by it under section 391 of the companies act, 1956, it ceases to retain the character of contract and operates by force of the statute. in a case of amalgamation, there is a share exchange ratio prescribed according to which, the .....

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 ..... a loss situation in the acquisition of shares in the stock options scheme, because no matter how much below market price the shares are offered under the scheme, market forces can drive the shares to even lower levels. on a conceptual frame, thus, stock appreciation rights plan can be said to be a method for companies to give ..... esop fulfils the guidelines laid down by the central government. the amendment brought about by the finance act, 1999, according to the learned counsel, was not retrospective.therefore, until the amendment bringing to tax the stock option benefit was put into force, i.e. 1st april 2000, the benefit of stock option was not taxable at all. a .....

Sumit Bhatttacharya Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)113CTR(Mum.)633

..... the united states of which such a person is a resident and/or citizen.optionees who are subject to section lg(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 nonstatutory stock options for periods of up to six months ..... loss situation in the acquisition of shares in the stock options scheme, because no matter how much below market price the shares are offered under the scheme, market forces can drive the shares to even lower levels. on a conceptual frame, thus, stock appreciation rights plan can be said to be a method for companies to give ..... esop fulfils the guidelines laid down by the central government. the amendment brought about by the finance act, 1999, according to the learned counsel, was not retrospective.therefore, until the amendment bringing to tax the stock option benefit was put into force, i.e. 1st april, 2000, the benefit of stock option was not taxable at all. .....

Dy. Cit, Range 12(1) Vs. Samta Marine Kakinada

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... be nil; (aa) (in a case where, by virtue of holding a capital asset, being a share or any other security, within the meaning of clause (h) of section 2 of the securities contracts (regulation) act, 1956 (42 of 1956) (hereafter in this clause referred to as the financial asset), the assessee (b) is allotted ..... (1) of) section 49, by the previous owner, but does not include any expenditure which is deductible in computing the income chargeable under the head interest on securities', 'income from house property', 'profits and gains of business or profession', or 'income from other sources', and the expression 'improvement' shall be construed accordingly. ( ..... shareholder of a recognised stock exchange in india under a scheme for (demutualisation or) corporatisation approved by the securities and exchange board of india established under section 3 of the securities and exchange board of india act, 1992 (15 of 1992), shall be the cost of acquisition of his original membership of the exchange:) .....

Videsh Sanchar Nigam Ltd. Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)111ITD190(Mum.)

..... involve end-to-end transmission of customer supplier information. it has also been stated in the said document that basic telecommunication services are provided through cross border supply and through the establishment of foreign firms or commercial presence, including the ability to own and operate independent telecom network infrastructure. 6. the telecommunication interconnection ..... a case of old undertaking running in the same business with new technology.84. in my view, the submission of the learned departmental representative is without force. the question of investment in the new unit cannot be compared with the total capital employed by the assessee in its entire business. in the case ..... a separate order.72. the question for consideration of the special bench is whether the assessee is entitled to exemption under section 80-ia of the it act, 1961 (act) in respect of the profits derived from the activity carried on by the assessee through the earth stations set up by it. since long, .....

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 .....

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 .....

Deputy Commissioner of Income Tax Vs. Star Chemicals (Bom) (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)110TTJ(Mum.)753

..... get a decree or not does not depend upon the incurring of legal expenses and/or payment of court fee. the expenses incurred for the purpose of securing justice or for vindication of legal rights cannot be considered as the cost of acquisition of such rights themselves which are the subject matter of legal proceedings ..... which it became owner could not be determined with certainty and therefore the judgment in the case of b.c. srinivasa setty (supra) applied with greater force. the assessee argued that by virtue of statutes of limitation the holder of a property in adverse possession acquired a title over the property held in adverse ..... fatimabai to her four sons who had thereby become the owners thereof. (j) on international airport authority of india (iaai) being constituted under the international airport authority act, 1971, all the assets, properties, rights and obligations of the civil aviation department of the government of india became the assets, properties, rights and obligations of .....