Judgment Search Results Home > Cases Phrase: coast guard act 1978 Court: income tax appellate tribunal itat delhi Page 1 of about 1,178 results (0.123 seconds)

Godore Tools (India) (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1988)25ITD193(Delhi)

..... of such presumption : we are, therefore, of the view that though the ccs could not be treated as a mere bounty or gift, it was not a revenue receipt taxable under section 28(iv) of the income-tax act, 1961 but only a capital receipt given to improve and build up its capital base and to remove the inadequacies in its export apparatus or infrastructure.it would not be out of place to re-emphasise that none of ..... there were conflicting decisions of two benches of the tribunal that it was considered fit and proper by the president to constitute the present special bench under section 255(3) of the income-tax act, 1961.the position as clarified by the third member in the case of export house (supra) namely that when conflicting decisions are there, the decision of the special bench, though ..... have raised the following grounds : that the learned cit (appeals) erred, in not allowing the full amount claimed by the appellant for deduction under section 35b of the income-tax act, 1961 particularly with regard to expenditure incurred as interest paid on post-shipment export credit loan ; loss incurred owing to the fluctuation in the rate of exchange ; inland freight and ..... . apart from the report of the board of directors to the shareholders, the revenue had also relied upon a letter dated 11-5-1978 written by the engineering export promotion council to the authorised representative of the department, in which the following was, inter alia, stated : we would confirm that after devaluation ..... ..... .....

indo Asian Switchgears (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)12ITD65(Delhi)

..... learned counsel for the assessee that if it was assumed that what was at the point of acquisition, a capital asset, viz,, import entitlement, had been converted into a trading asset by a simple act of volition on the part of the assessee to so convert the said capital asset and to deal with it as a trading asset, the assessee was entitled to substitute for the cost of the said asset, ..... . firstly, what was being interpreted by the gujarat high court was the term 'derived from the exports of any goods' appearing in the finance acts.the question of taxability of the sale consideration for import entitlements under section 28(i) was not before the court at all.secondly, even within the narrow sphere of ..... . the court explained there (in relation to business expenditure) the meaning of expression 'for the purpose of business' occurring in section 10(2)(xv) of the 1922 act, corresponding to section 37(1) of the 1961 act, as wide in range : that it would take in not only the day-to-day running of a business but also include measures for the preservation of the business that it ..... . one of the arguments taken before the court was that in considering the allow ability of the rebate under the finance act, the fact that the assessee had made an overall profit for the two assessment years under consideration should be given weight even though it ..... cit [1978] 114 itr 840 had referred to the provisions of section 28(iv) of the income-tax act, 1961 ('the act'), and was of the view that such .....

Greater Kailash-ii Welfare Vs. Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the unnecessary social luxuries in which members of a particular community indulge and to regulate them properly is not an object of general public utility within the meaning of section 4(3)(i) of the income tax act'; that 'the establishment of funds for the preservation and erection of monuments to commemorate the member of the great men of a particular community and celebrate events in the community is not a charitable ..... by commissioner it was held that 'promoting the social or the material condition of a particular community is not a charitable purpose so as to attract the exemption of section 4(3)(i) of the income tax act, 1992'; that 'contributing towards the marriage expenses of a needy person of a specified community and maintaining materials for use in marriage and other social and religious ceremonies are not charitable purpose'; that 'to curtail ..... purpose within the meaning of the expression used in the income tax act'; that 'doing acts and deeds and things for the welfare of a specified community is not necessarily charitable'; that 'where a society is registered under the societies registration act, 1860 with many objects, no one object can be considered to be primary object, and the others ..... commissioner, the objects of the assessee society were not in consonance with the provisions of section 2(15) of the act.and therefore it is not charitable institution in view of the judgment of the calcutta high court in the .....

Lalsons Enterprises Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)89ITD25(Delhi)

..... . with a view to stop the side misuse, the formula amended with effect from the assessment year 1992-93 by segregating trading exports and manufactured exports for the purposes of section 80hhc of the act.computation of deduction subsequent to amendment of section 80hhc (on or after assessment year 1992-93) (i) profits derived from export of manufactured goods = (adjusted profits of the business) x (adjusted export turnover) / (adjusted export turnover)/adjusted total turnover) = (1050 x 20 / ..... from the profits derived from the export of manufactured goods, since the profits derived on export of manufactured goods simplicities were always covered by the exemption envisaged in section 80hhc of the act and the same were never the subject matter of the mischief of the pre-amended section 80hhc(3) of the act, which the legislature wanted to remove by making the necessary amendments to the said section with effect from the assessment year 1992-93 ..... . cit (1978) (115 itr 771) (sc),the supreme court reiterated this position and held that though the profits of each distinct business carried on by the assessee have to be computed separately in accordance with the provisions of section 10 of the 1922 act, the tax is chargeable under that section not separately on the profits of each business but on the aggregate of the profits of all the businesses carried on by the assessee ..... . the special bench has to guard against any such tendency .....

Shahid Atiq Vs. Ito, Ward 5(8)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)97ITD22(Delhi)

..... of subsequent interpretation of law by hon'ble supreme court and of hon'ble jurisdictional high court, would constitute a mistake apparent from the records and rectifications action under section 254(2) of income tax act would be in order.on application of the above postulates, it is found that there was a legal obligation on the part of tribunal to restore the subject-matter to learned commissioner (appeals) and failure to do ..... that the tribunal does not have the power to enhance the assessment which power has been specifically conferred upon the commissioner (appeals) under section 251(1)(a) of the income tax act and which power has been specifically denied to itat under proviso to section 254, which is as under: "provided that an amendment which has the effect of enhancing an ..... such an amendment or addition being different from review of the order, is very much permissible within the scope of powers under section 254(2) of the income tax act, 1961.thus, on proper examination of section 254(2) of the income tax act, reproduced in para 18 of this order, it is clear that the tribunal is under legal obligation to amend its order, passed by it under sub-section (1) ..... are of the considered opinion that the tribunal has no power to, rehear, reconsider, recall and review its order under section 254(l) of the income tax act.however, so far as part 'b' is concerned, after considering the scope under section 254(2), relating to power available to the itat for rectifying its mistakes .....

Deputy Commissioner of Vs. Kicha Sugar Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... falls outside the purview of the payment of bonus act still all the three conditions laid down under the second proviso to section 56(1)(ii) should be fulfilled and even if one of the conditions was not fulfilled or remained unfulfilled then also the ..... the delhi high court declining to call for a statement of the case on the question whether production incentive paid to employees was bonus and, therefore, hit by the limits prescribed by section 36(1)(ii) of the income-tax act, 1961. " 65. the learned advocate for the assessee thus conceded that there are some kerala high court decisions which had taken the view that in order to get the payment allowed which ..... to preclude employees employed in any establishment or class of establishments from entering into agreement with their employer for granting them an amount of bonus under a formula which is different from that under this act : provided that no such agreement shall have effect unless it is entered into with the previous approval of the appropriate government : provided further that any such agreement whereby the employees relinquish their rights ..... it is, therefore, evident that as per section 16(1a) of the payment of bonus act; the assessee was not bound to pay bonus because the accounting period of the assessee (1978-79) was within the period of five years, following the year in which the .....

Shri Shahid Atiq L/H of Late Sh. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)98TTJ(Delhi)971

..... those authorities, subject to the limitation that the tribunal does not have the power to enhance the assessment which power has been specifically conferred upon the cit(a) under section 251(1)(a) of the income-tax act and which power has been specifically denied to itat under proviso to section 254, which is as under: "provided that an amendment which has the effect of enhancing an assessment or reducing a refund or ..... . on examination of the scope of jurisdiction of income tax app[elate tribunal in deciding the appeals and miscellaneous applications under section 254(1) and 254(2) of the act and on the analytical appreciation of the propositions laid down in various decisions in relation to the powers of the tribunal referred to above, we can cull out the following postulates: (1) the power of tribunal ..... (sc), while discussing the power of appellate tribunal in dealing with appeals, as expressed in section 33(4) of the income-tax act, 1922, the hon'ble supreme court observed that the powers of the tribunal are expressed in widest possible terms ..... second place, there is a duty cast on the income-tax officer to apply the relevant provisions of the indian income-tax act for the purpose of determining the true figure of the assessee's taxable income and the consequential tax liability ..... . the hon'ble supreme court has held as under: "under section 254 of the income-tax act, 1961, the appellate tribunal may, after giving both the parties to the appeal an opportunity of being heard, pass such .....

Deputy Commissioner of Income Tax Vs. Padam Prakash (Huf)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)104TTJ(Delhi)989

..... -in-trade of a business carried on by him, such conversion or treatment; (v) any transaction involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53a of the transfer of property act, 1882 (4 of 1882); or (vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, company or other aop or by way of any agreement or any arrangement or in any other manner whatsoever) which has the effect of transferring, ..... held, dismissing the application for reference, that the tribunal was correct in holding that the amounts received by the assessee by way of interest in respect of additional compensation under the land acquisition act, 1894, were not taxable in view of the finding of the tribunal that the grant of additional compensation and interest thereon had not become final due to appeals preferred by the government to the ..... , income-tax at that rate or those rates shall be charged for that year in accordance with, and subject to the provisions (including provisions for the levy of additional income-tax) of this act in respect of the total income of the previous year of every person: provided that where by virtue of any provision of this act income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly. ..... 17th may, 1978 (1979 117 itr (st) 17 and other circulars on .....

Nestle India Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1997)61ITD444(Delhi)

..... notes appended to the aforesaid form, column 2 reads as under :- "salary includes wages, annuity, pension, gratuity, fees, commission, bonus, repayment of amount deposited under the additional emoluments (compulsory deposit) act, 1974 or profits in view of or in addition to salary or wages, including payments made at or in connection with termination of employment, advance of salary or any other sums chargeable to income-tax ..... belief that no tax is deductible at source from the conveyance allowance reimbursed to the employees.referring to the relevant provisions of section 192, read with section 201, of the act, we find that the duty is cast on the employer to deduct tax at source from the salary of the employee and to pay it to the government. ..... 606(e) dated 9-6-1989 such reimbursements were considered as tax exempt under section 10(14) of the income-tax act.the assessee's bona fide is established from the fact that except for the conveyance allowance in regard to the other allowances paid ..... on the other hand, the claim of the assessee in regard to exemption under section 10(14) of the act is dependent on fulfilment of conditions, as prescribed in the section.the allowance would be exempt to the extent it is spent wholly, exclusively and necessarily in the performance of the ..... revenue that once a standard deduction is allowed, no further allowance is allowable under section 10(14) of the act, we find that the issue was considered by the itat hyderabad bench 'b' (sb) in the case of .....

Bharatiya Janata Party Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)80ITD89(Delhi)

..... it could not be held that a political party could not have a source of income over and above the exempted incomes specified in section 13a; (xi) there was no restrictive clause in section 13a as there was in section 11 of the it act, 1961 since under the latter profits and gains of business would be exempt only if the business was incidental to the attainment of the various objectives, but there was no such special condition to be fulfilled by a political party ..... the learned counsel vehemently relied on the order of the hon'ble president at this stage for the submission that any mutual fund scheme could not override the provisions of the it act as any receipt or income had to be taxed under the relevant head and in case the assessee had erroneously shown something in the return due to whatever reason whether ignorance or otherwise, then the ao and subsequently the ..... 31,69,231 which came to be assessed as such without any discussion and on further appeal the cit(a} upheld the view taken by the ao observing that these were not exempt from tax under section 13a of the it act since the said section only provided exemption in respect of income from house property, income from other sources or income by way of voluntary contributions received by a political party.50. ..... this section was inserted by the finance laws (amendment) act, 1978 w.e.f. .....