Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Court: income tax appellate tribunal itat mumbai Page 13 of about 294 results (0.114 seconds)

M.B. Agrawal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1991)37ITD60(Mum.)

..... to 158 itr 84 (statute) containing notes on clauses in respect of the amendment made in sections 23 and 24 of the act. he, therefore, urged that the ito should be directed to accept the assessor's contention and modify the assessments accordingly. the learned representative ..... has exercised an option under clause (b), shall be determined under sub-section (1) as if such house or houses has been let.section 24 of the act contains various clauses indicating "deductions from income from house properly". 24.(1) income chargeable under the head 'income from house property' shall subject to the provisions of ..... ,328 respectively in determining the income from house property of the said flat. he also submitted that there is no prohibition under the relevant provisions of the act for assessee claiming deduction of interest payment in respect of other self-occupied flat, which is not used for his own residence. he also invited my attention .....

M.M. Nissim and Co. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... depreciable assets are governed by section 50.section 50 does not deal with tenancy rights. otherwise, again the tenancy rights are not recognized as depreciable rights under the income tax act.9. therefore, the only point to be looked into is, in the light of the argument of the learned counsel, that whether section 32(1)(ii) does have ..... amount of rs. 1,40,31,000 by way of premium. the right in the said property as tenants is a transferable asset and after the new rent control act, acquisition of premises on perpetual lease by payment of premium is one of the recognized methods of acquiring the property. the assessee, therefore, capitalized the amounts in its ..... the order of the commissioner (appeals) xi at mumbai dated 24-6-2003. the appeal arises out of the assessment completed under section 143(3) of the income tax act, 1961.2. the first ground raised by the assessee in this appeal reads as follows: the learned commissioner (appeals) xi erred in confirming that the appellant was not .....

Sumit Bhattacharya Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... 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 months ..... three (3) years following the date of the granting of a stock option or a stock appreciation right without first obtaining written permission from the company. "engage in competitive employment'' means rendering services, or becoming associated in any way or in any capacity in the manufacture, development, advertising, promotion at sole of any product which is ..... this draft order, and grant of tour to one of us for the said purpose, that the members constituting this special bench could finally meet on 10th december 2007 to discuss those issues as also deliberate on the proposed draft order. it is in this backdrop that there is a delay in disposal of this appeal, .....

Sumit Bhatttacharya Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

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

..... 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 after ..... three (3) years following the date of the granting of a stock option or a stock appreciation right without first obtaining written permission from the company. "engage in competitive employment" means rendering services, or becoming associated in any way or in any capacity in the manufacture, development, advertising, promotion or sale of any product which is ..... draft order, and grant of tour to one of us for the said purpose, that the members constituting this special bench could finally meet on 10th dec, 2007 to discuss those issues as also deliberate on the proposed draft order. it is in this backdrop that there is a delay in disposal of this appeal, which .....

The Jcit, Spl. Range-2 Vs. Alfa Laval (i) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)286ITR193(Mum.)

..... not to carry out the competing business of refrigeration equipment and refrigeration systems. a copy of the agreement is enclosed herewith. alfa agreed to the following restrictive non-competition clauses: (i) alfa (either directly or indirectly through its subsidiaries/associate companies) will not undertake business of refrigeration equipment and refrigeration systems. (ii) alfa ..... and does not cover all the aspects related to carrying on of business and the rights therein. under the income tax act also amendments were made to section 55 of the i.t. act wherein first goodwill was included w.e.f. 1.4.95 to be taxed on transfer of goodwill under the head ..... asea brown boveri ltd. switzerland, for the purpose of restricting trade: our company was engaged in the business of industrial refrigeration. in order to be technically competitive and to have focused attention on this business area the company has entered into a joint venture with abb stal refrigeration ab, sweden and formed a separate .....

Glaxo Smithkline Pharmaceuticals Ltd. (Formerly Glaxo India Ltd.) and ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... than the profits from export of manufactured goods in as much as in such situation, the assessee would not be entitled to deduction u/s 80hhc as per the amended provisions. on the other hand, if the profits from export of manufactured goods, as per the calculation of assessee, is more than the loss in traded goods export ..... department of chemicals and petrochemicals". 10.1 ground no.9 and 10 are the additional grounds raised in the course of present appellate proceedings vide letter dated 9.8.2007. the facts leading to the present issue are that during the previous year relevant to assessment year 1998-99, assessee received a demand dated 10th june, 1997 ..... appreciating that the items of miscellaneous income are not in the nature of income as specified in clauses (iiia) (iiib) and (iiic) of section 28 of the act and therefore, ao rightly reduced 90% of various items of miscellaneous income for computation of deduction under section 80hhc". 18.1 consequent to the conflicting order of the cit .....

M/S. Yash Developers, Mumbai Vs. Department of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... at the time of hearing, ld. dr supported the orders of ao in denying the deduction u/s 80ib (10) of the act in view of the amendment made by insertion of clause (d) of section 80ib (10) with effect from 1.4.2005 on the ground that aggregate area ..... at rs.nil after claiming deduction/s 80ib of rs.24,85,233/-. ao denied the deduction u/s 80ib of the act for the assessment year 2007-08 on the ground that the assessee has constructed shops with the aggregate built up area of 3382 sq.ft which constitutes ..... account of built up area of shops and commercial establishment was considered by itat in assessee's own case in ita no.7297/mum/2007 for assessment year 2004-05 vide order dated 2.6.2009 wherein the assessment order was set aside and following it, he has ..... ground which may be necessary" 2. at the time of hearing, it was pointed out that grounds in the appeal for assessment year 2007-08 are similar to that of ground nos. 1 and 2 of the appeal for the assessment year 2008-09 and it relates to .....

Assistant Commissioner of Vs. Hinditron Services (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)99ITD479(Mum.)

..... which hspl received compensation prior to the termination date at the rates set forth in the annex to this agreement or mutually amended from time to time. (5) hspl shall do all acts, deeds and things which may be necessary or desirable to implement fully and effectively all of its obligation under this agreement and ..... is, 'goodwill') to include whatever adds value to a business by reason of situation, name and reputation, connection, introduction to old customers, and agreed absence from competition, or any of these things.the various descriptions which different judges have given of "goodwill" have been picturesquely catalogued by p. b. mukharji j., who spoke for ..... the business, its name and reputation, its location, its impact on contemporary market, the financial base, socio-economic conditions of business, ecology, old customers, absence of competition, etc.19. thus, goodwill is not made up of one or two individual factors or a combination thereof. it is made up of whole lot of factors, .....

Acit - 1 (3) Vs. Weizmann Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... profits and gains of business or profession for any previous year, deduction of depreciation under section 32 shall be mandatory. therefore, the provisions of section 32(2) as amended by finance act, 2001 would allow the unabsorbed depreciation allowance available in the a.y. 1997-98, 1999-2000, 2000-01 and 2001-02 to be carried forward to the ..... .2001-02 got carried forward to the assessment year 2002-03 and became part thereof, it came to be governed by the provisions of section 32(2) as amended by finance act, 2001 and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever". 7. not only on legal ..... the issue under consideration is squarely covered by the decision of a coordinate bench in the case of dcit vs. m/s glenmark laboratories ltd in ita no.4155/m/2007 for the assessment year 2004-05, wherein the tribunal following the decision of the itat (sb) in the case of syncome formulations (i) ltd (supra) has affirmed .....

The Morarjee Goculdas Spg. and Vs. Dy. Commissioner of Income Tax,

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... relied upon in the impugned order was as a result of the search in the case of the assessee. the learned departmental representative emphasized the amendment to section 158bb(1) by the finance act, 2002 with retrospective effect from 1.7.95 to the effect that the undisclosed income shall be computed "in accordance with the provisions of ..... property which has not been or would not have been disclosed for the purpose of this act and after the amendment by finance act, 2002 w.e.f. 1-7-1995 it includes also the any expenses, deduction or allowance claimed under this act which is to be found to be false.9. section 158bb provides for computation of ..... in relation to the insertion by the finance act 2002 in the provisions of section 158b(b) with retrospective effect from 1.7.1995, the learned counsel for the assessee argued that so far as the finance bill was concerned, the amendment was introduced to have prospective effect. thus, the amendment as passed by the legislature was only prospective .....