Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Feb-27-2006
Reported in : (2006)284ITR1(Jodh.)
..... absolute discretion and without assigning any reason therefor decline to register a transfer of any share whether fully paid or partly paid.a pubic company, as per the companies (amendment) act means a company which : 19. now we shall discuss the lifting the corporate veil specially in the case of private limited company for protection of revenue. in sir ..... case is that the disallowance made by the ao suo motu in the second revised return is not covered by the provisions of section 43b(d) of the act as this amendment was not relevant for the assessment year under appeal. in other words, the claim of the appellant which had been put before the tribunal as additional ground ..... ao is to examine the facts of the case in order to see whether all the above conditions are fulfilled. clause (d) of section 43b has been amended with a view to improve the liquidity position of the state financial institutions (state financial corporations and state industrial investment corporations). as a result of such .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Sep-22-2006
Reported in : (2007)108ITD48(Jodh.)
..... i propose to extend the exclusion to profits derived from export of software which are exempt under section 80hhe of the income tax act....also clause (iii) of section 115j was inserted by the direct tax laws (amendment) act, 1989. para 9.2 of the circular 559 reads as under: it was pointed out that the provisions of section 115j ..... section.further, the following is the para 27 of the speech of finance minister in lok sabha on 7.5.1997: clause 37 proposes to amend section 115ja of the income tax act regarding mat so as to exclude the profits derived from the export of goods or merchandise to which section 80hhc applies from the purview of mat ..... the book profit. the explanation to sub-section (1) of section 115j gives the definition of the "book profit" by incorporating the requirement of section 205 of the companies act in the computation of the book profit.brought forward losses or unabsorbed depreciation, whichever is less, would be reduced in arriving at the book profits. sub-section (2), .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Jul-28-2006
Reported in : (2007)106ITD444(Jodh.)
..... distribution without any price having been paid by the participants for acquiring the chance and receiving a prize that is ultimately distributed, would not amount to a lottery." amendment by the finance act, 2002, in the shape of insertion of expln. (i) to section 2(24)(ix) expanding the scope of 'lottery' laying emphasis on the winnings ..... arises as to whether the action of the ao can be held to be justified section 154 empowers an it authority to amend any order passed by it under the provisions of this act or amend any intimation or deemed intimation under section 143(1), with a view to rectifying any mistake apparent from record. thus the provisions ..... any sort" shall include any game show, an entertainment programme on television or electronic mode, in which people compete to win prize or any other similar game. these amendments will, take effect from 1st april, 2002, and will, accordingly, apply in relation to asst. yr. 2002-03 and subsequent years.the above referred circular no. 14 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Aug-18-2006
Reported in : (2007)292ITR361(Jodh.)
..... . v. asstt. cit (2006) 102 ttj (chennai)(sb) 1 : (2006) 100 itd 199 (chennai)(sb) in which it has been held that the amendment brought out by the finance act, 2003, enabling the assessee to deduction even if the payment is made before the due date of furnishing return under section 139(1) is retrospective and hence applicable ..... exports, but the object can be given effect to only if the statutory expression is ambiguous. there was no ambiguity in section 80hhc(2)(b) prior to its amendment. it does not in any event appear that the government had sought to grant blanket incentive to all exports. there is in the circumstances no warrant for reading ..... upto asst.yr. 1990-31, all minerals and ores, without exception, whether processed or not, were excluded from the ambit of section 80hhc. it is in this pre-amendment era that the decision of the hon'ble apex court, relied upon by the learned departmental representative in stone crafts enterprises v. cit was rendered, which disentitled the assessees .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Nov-17-2006
Reported in : (2007)106TTJ(Jodh.)712
..... 2000, travelling expenses rs. 4,000 and shop rent rs. 14,520). and the disallowance may kindly be allowed. 2. that the respondent reserves its right to add, amend or alter the grounds of cross-objection on or before the date of its hearing.53. the assessee incurred an expenditure of rs. 21,167 under the head office expenses ..... enquiry could be made in the beginning. in case, the shareholders do not found to exist at all, that sum can be added under section 68 of the act. in the case of steller investment (supra), the facts regarding the existence of the shareholders stood explained in the very beginning and the hon'ble judges constituting the ..... a material whole. therefore, loose sheets or scraps of papers cannot be termed as "book" because they can easily be detached and replaced. section 34 of the evidence act, 1872 provides that entries in books of accounts, which are regularly kept and maintained in the ordinary course of business, are relevant, whenever they refer to a matter into .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Jul-28-2006
Reported in : (2007)106ITD401(Jodh.)
..... gratia payments and are made over and above the regular terminal benefits like pension, gratuity, leave encashment etc., in respect of which normal provisions of the act will apply. 33.3 the amendment will take effect from 1st april, 2002 and will, accordingly, apply in relation to the asst. yr. 2002-03 and subsequent years.from me ..... , which is under consideration. thus it becomes manifest that the insertion of the section 35dda has to be ignored altogether and the legal position prevailing anterior to this amendment has to be considered." 7. the hon'ble bombay high court in cit v. bhor industries ltd. considered the facts in which that assessee claimed deduction of ..... cannot be held to be operative. the hon'ble madras high court in the case of cyt v. s. palaniswamy considered a similar situation in which the notification amending the rules allowing depreciation on buses at 40 per cent came into effect on 24th july, 1980. the assessee claimed depreciation at this rate as against the ito .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Feb-27-2006
Reported in : (2006)101ITD101(Jodh.)
..... in ita. no. 177/jdpr/1998.2. the appellant has moved an application under section 254(2) of the it act, 1961 for amendment or direction and rectification of mistake apparent on the face of the record. the appellant has requested for amendment or direction issued in para 28 at p. 28 of the order for the asst. yr. 1995-96. para ..... tribunal may, at any time with four years from the date of order with a view to rectifying any mistake apparent from the record amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the ao.cit v. anamika builders (p) ltd. , where ..... income returned by the assessee for the year, which tends to curtail the relief of deletion of addition of sales-tax refund amount under section 41(1) of the it act, which stands decisively/conclusively accorded to the assessee-petitioner? the learned am was of the view that difference is reflected in the following question : whether the tribunal can .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Jun-30-2006
Reported in : (2006)104TTJ(Jodh.)149
..... context in which it has been rendered. the decision of the supreme court in the case of aman marble industries (p) ltd. (supra) is before the amendment in the central excise act, 1944 and, therefore, is applicable to the present case. subsequent decision in the case of kores india ltd. (supra) is not applicable as it has been ..... , levy of excise duty on marble blocks, slabs and tiles might have been authorized under the customs (central) excise act. in this connection it will be relevant to point out that section 2 of the central excise act, 1944 was amended to give the inclusive definition of 'manufacture' as under: '(b) in section 2, for clause (f), the ..... who engages in their production or manufacture on the own account;' the definition of excisable goods had also been amended to mean "goods specified in the schedule to central excise tariff act, 1985 as being subject to duty of excise". before this amendment, the hon'ble supreme court in the case of aman marble industries (p) ltd. v. cce .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Mar-24-2006
Reported in : (2006)101TTJ(Jodh.)97
..... the years which is below taxable limit and the returns were not furnished, the same are liable to be excluded by virtue of amendment to section 158bb(1)(b) carried out with retrospective effect from 1st july, 1995. the hon'ble kerala high court in the ..... of section 132, it is discernible that the statement under this sub-section may be used in evidence in the proceedings under this act. we are equally conscious of the fact that the assessee can come out of the rigour of his admission by retracting. in ..... undisclosed income, moreso when the income earned is negligible not warranting the maintenance of books of account as per the provisions of the act and the assessee is regularly assessed to tax having filed his returns of income in due course. if the view of the ..... to the extent of rs. 7,760 and made addition for the balance amount of rs. 40,000 under section 69a of the act. no relief was allowed in the first appeal.4. we have heard both the sides and perused the relevant material on record. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Feb-17-2006
Reported in : (2006)100ITD422(Jodh.)
..... a cess". in view of this decision, it becomes absolutely clear that the bottling fee is not covered within the scope of section 43b. amendment to section 43b clause (a) as noted by the ld. cit(a) expanding the scope of "tax or duty" with the substitution of ..... continuously being paid as per agreement in the earlier years, which was allowed in assessments made under section 143(3) of the act. there is no change in the factual position from the earlier years vis-a-vis the instant year and lease rent continues to ..... 16. third ground is against the deletion of addition of rs. 32,63,112, made under section 40a(2)(a) of the act on account of lease rental treated by the assessing officer as notional income.17. facts apropos of this ground are that the assessee ..... raised by the assessee in its appeal is against the confirmation of disallowance of rs. 62,38,464 under section 43b of the act.3. briefly stated, the facts of this ground are that the assessee had claimed an expenditure of rs. 1,45,58,464 .....
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