Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2008)113TTJ(Delhi)767
..... , in consideration of the mutual covenants set forth above and other good and valuable consideration, the parties hereby agree as follows: amadeus marketing hereby authorizes amaedus india to carry out the necessary acts to provide the subscribers with appropriate access to the amadeus products and to the computer data base owned by amadeus called "amadeus global core " or to other computer data bases offered by ..... said to have authority to conclude contracts on behalf of the appellant, in relation to the sbas, the same would not result in aipl being considered as 'business connection', as referred to in section 9(1)(i) of the act, since the contracts entered into by aipl only facilitate the discharging of the obligation of the appellant principal or rendering of service and does not result in earning of revenues in india, which, it is reiterated, is ..... the tribunal's findings in the case of amadeus india (supra), it is submitted that the cit(a) was correct in holding that there is a 'business connection' in term of section 9(1 )(i) of the act.12.1 shri kapila also submitted that for the assessment year 1996-97, the taxability will have to be decided in accordance with the provisions of the ..... and whether the assessee could be held an agent having 'business connection' with the non-resident company in terms of section 163(1)(b) of the income-tax act, 1961.the delhi high court, applying the test of real and intimate connection laid down by the supreme court in the case cit v. r. d. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2004)91ITD392(Delhi)
..... we find that cit[a] was justified even in ignoring the alternate plea on the strength of section 25b of the income tax act as whenever arrears are settled are taken as income of the assessee in which it was finally determined ..... as far as the alternate plea is concerned, with regard to section 25b of the income tax act, the cit[a] observed that if we look at the scheme of section 25b find that this particular section does not bring any ..... counsel for assessee has also raised the alternate plea that even if the amount received in the form of mesne profit is treated as arrears of rent, the same cannot be taxed under the income tax act under section 25b of the income tax act as was inserted subsequently which is applicable from assessment year 2001-02 ..... the terms of the settlement, the property in question was to be acquired by the state under land acquisition act and compensation for such acquisition was to be paid to the assessee ..... for assessee in support of the alternate contention also argued that section 25b of the income tax act is not applicable as it was inserted in the income tax act subsequent to the assessment year involved in the appeal. ..... . according to the cit[a], section 25b of the income tax act only sots at rest the controversy in this area and it is crystal door that such incomes are ..... counsel for assessee has taken us to the details submitted in the paper book with regard to object of the insertion of section 25b in the income tax act which is also reproduced by cit[a] in the impugned order .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD1(Delhi)
..... by the valuation officer's report, it means that the books of account maintained by the assessee and produced by him in support of cost of construction within the meaning of section 143(3) of the income-tax act, whereunder on the day specified in the notice issued under section 143(3), after hearing such evidence as the assessee may produce and such other evidence as the income-tax officer may require on specified points ..... account books, of the government registered valuer, whose report was filed by the assessee and the departmental valuation officer, the assessee was given a notice under section 143(3) of the act on 19th march, 1984 to show cause why the proportionate addition of the difference in the cost of construction, as for the books and the one estimated by the dvo, which he worked out at ..... the order by my learned brother.as we have differed the following point of difference is referred to the hon'ble president, income-tax appellate tribunal under section 255(4) of the income-tax act, 1961: whether on the facts and in the circumstances of the case the judicial member has been correct in holding that there was no justification for retaining additions of rs. ..... the assessee's claim was in terms of section 32a(2)(b)(iii) of the act, which provides that the machinery or plant must be installed after the 31st day of march, 1978 in any industrial undertaking for the purpose of business of manufacture or production of any article or thing, not being an article or thing specified in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1993)47ITD487(Delhi)
..... same contentions along with supporting material was furnished to the assessing officer and only alternative claims were raised interpreting the concerned sections of the income-tax act in favour of the assessee.nowhere it was said at any stage that the concerned particulars or materials necessary for the computation of total income were not disclosed by the assessee. ..... explanation 1 to section 271(1)(c) reads as under: explanation 1: where in respect of any facts material to the computation of the total income of any person under this act,- (a) such person fails to offer an explanation or offers an explanation which is found by the income-tax officer or the appellate assistant commissioner or the commissioner (appeals) to be false, or (b) such person offers an explanation which he ..... two appeals by the assessee against confirmation of penalty under section 271(1)(c) of the income-tax act, 1931, passed by the commissioner of income-tax (appeals), faridabad, pertaining to the assessment ..... been commenced within the accounting period, provision of explanation 1 to section 271(1)(c)(iii) of the act is attracted and it shall be treated as assessee's concealed income in respect of which inaccurate ..... if after furnishing all necessaiy particulars of income the assessee claimed benefit of certain provisions of the act and raised contention but it did not find favour with the authorities, it may be on account of difference of opinion on particular set of facts but it does not amount that there .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2005)275ITR81(Delhi)
..... 122 in this regard is reproduced as under so as to show that the amendment was made to do away the hardship caused by the total disallowance; in terms of the provisions of section 43b of the income tax act, deduction for statutory payments relating to labour, taxes and state and public financial institutions are allowed as deductions, if they are paid during the financial year. ..... on the other hand, the assessee's counsel contends that there is ambiguity in the provision of act for which benefit should be allowed to him and in that light the decision taken by the ld cit (a) cannot be disturbed.9. ..... due to financial crisis payment could not be made and delay may be condoned was not accepted as the ao was of the view that for non compliance of mandatory provisions as contained in section 43b and section 36 (1) (va) of the act, the deposit having not been made within the time specified, have to be disallowed.5. ..... in case the amendment is not accepted to be operative retrospectively, then the amendment so brought in to statute by the finance act, 2003 would produce inequitable and illogical results. ..... shiv dayal radhey shyam 259 itr 147 by observing that first proviso to section 43b of the act inserted by the finance act, 1987 is retrospective and if the sales tax had been paid after the due date but during the grace period allowed under the sales tax act that does not attract provisions of section 43b of the act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2005)98TTJ(Delhi)565
..... are directed against the decision of the it authorities to apportion a part of the expenditure incurred by the assessee against the dividend income and thereby reducing the deduction available under section 80m of the act and their action in apportioning a part of the expenditure against tax-free interest income from bonds.the expenditure apportioned is rs. ..... the judgment of the kerala high court, the facts are identical and their lordships have referred to the speech of the hon'ble finance minister and held that section 40a(9) of the act does not apply to payments made to school in which the children of the employees are studying. ..... cit , wherein it has been held that accounting practice cannot override the provisions of it act and that the question whether certain deductions are permissible in law or not has to be decided according to the principles of law and not in accordance with ..... it is contended further that section 40a(9) was introduced by the finance act, 1984, with retrospective effect from 1st april, 1980 and that it was introduced to curb the undesirable practice of corporate bodies of making large contributions to so-called welfare funds and at the ..... the provisions of the finance act, 1984, were explained by the ..... , the finance act has provided that no deduction shall be allowed in the computation of taxable profits in respect of any sums paid by the assessee as an employer towards the setting up or formation of or as contribution to any fund, trust, company, aop, boi, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2001)77ITD8(Delhi)
..... to the disputed demand.no doubt, the assessment in the present case, which has given rise to the demand in question has been made in pursuance of the directions contained in the commissioner's order under section 263 of the act but the tribunal is not seized with the appeal against the assessment, which, in fact is pending before the ld, first appellate authority. ..... he submitted that the demand has arisen as a result of fresh order under section 143(3), read with section 263 of the act and for that the assessee can seek such remedy as is available to it under the law. ..... by the assessing officer was, therefore, only a mechanical formality, because the whole thing would depend on the order that may be passed by the tribunal in assessee's appeal against the order under section 263 of the act and if that is decided in assessee's favour, the very foundation of the fresh assessment would collapse. ..... counsel then submitted that before the tribunal, the assessee is in appeal against the order of the cit under section 263 of the act but it is not this order which has resulted in the creation of the demand. ..... it appears ihat in the fresh assessment made in pursuance of the above order under section 263 of the act, the assessing officer disallowed deductions for rs. ..... 1,60,35,67,210 arising as a result of assessing officer's order under section 143(3), read with section 263 of the income-lax act, 1961 for the assessment year 1995-96.2. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2004)88ITD53(Delhi)
..... also argued by him that units, securities or shares are different items as is clear from the provisions of section 115ad, 115ac and 115ab of income-tax act which deal with computation of income separately in respect of these items.she relied on the judgment of supreme court in the case of appollo tryres ltd. ..... air 1982 mad 292 wherein it was observed as under: "a consideration of the aforesaid provisions of the banking regulation act, 1949, clearly points out that a banking company, more particularly, nationalized bank like the petitioner has really no free scope for carrying on the business of banking permitted under the provisions of the banking regulation act in any manner it likes, but every activity is hedged in by and subjected to the control of rbi and its ..... ) 10 scc 488.according to her, non compliance of the directions of rbi may result in prosecution/levy of penalty u/s 46 of rbi act, 1934 but it cannot result in invalidation of any contract by the bank with the third party. ..... accordingly, it was argued that bank was only acting as an agent for managing the funds of its clients for which assessee was only entitled ..... pleaded that the legislature has considered the 'commodity' as distinct from 'securities' since trading in commodity is regulated by forward contract regulation act (in short fcra) while trading in securities is governed by scra. ..... according to it, the bank has to act as an agent of its clients in as much as the bank is required to purchase and sell the securities .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2006)282ITR151(Delhi)
..... year in respect of the total income of the previous year of every person section 5 provides for the scope of total income and it provides that subject to the provision of this act the total income of any previous year of a person who is recipient includes all income from whatever sources derived which - (a) is received or deemed to be received in india in such year by or on behalf of such person; (b) accrued or arises or ..... right and not the ownership right and the tribunal held that compensation in respect of tenancy right is not liable to capital gains tax under section 55(2) since section 55(2)(a) was substituted by finance act, 1994 with effect from 1-4-1995 including the tenancy right infer alia within the definition of "capital asset" having cost of compensation as nil.23. ..... compensation of the land on the market value on the date of relevant notification and it is this right which is- quantified by the collector under section 11 and fey the civil court under section 26 of the act the collector's sward under section 11 is nothing more then an offer of compensation made fey the government to the claimant whose property is acquired. ..... in the case of hindustan housing and land development trust (supra) and by stating that no right has accrued to the assessee over the said additional compensation ignoring the provisions of the act under section 45(5) which has shifted the charge of capital gain tax on receipt basis in so far as the additional compensation received is concerned.30. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1985)12ITD495(Delhi)
..... moneys belonged to the assessee ; and (vi) past history of the case demonstrated that it created an obligation in the nature of a trust within the meaning of sections 80 to 94 of the indian trusts act, 1882, and, consequently, the assessee has no beneficial interest in that amount except to hold it on the trust for the legal representatives of bhai sunder das and, consequently, neither deposits nor the ..... at any time create an obligation in the nature of the trust on the assessee under the operation of the provisions of section 94, read with section 95, of the indian trusts act (v) was any overriding diversion of the income created as a result of such obligation in the nature of the trust on each of these issues, the conclusion of the commissioner (appeals) was against the assessee. ..... (2) where the writing containing the acknowledgement is undated, oral evidence may be given of the time when it was signed ; but subject to the provisions of the indian evidence act, 1872 (1 of 1872), oral evidence of its contents shall not be received.this clearly says that where, before the expiration of the prescribed period for a suit or application in respect of any ..... our opinion, the commissioner (appeals) also is in error in holding that there is no constructive trust insofar as this money is concerned.section 94 of the indian trusts act, quoted by him, clearly applies to the facts of this case and the assessee does hold this money in the trust for the legal representatives of bhai sunder das .....
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