Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Court: income tax appellate tribunal itat mumbai Page 15 of about 294 results (0.101 seconds)

Amitabh Bachchan Corpn. Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... dr (mentioned hereinabove at page 18, para 3 1) are also distinguishable. these cases deal with a situation where the payment was made for eliminating competition. learned counsel submitted, in the instant case of the assessee, by making payment, the assessee obtained the services of the artists for a period ..... agreement to any statute or statutory provision shall be construed as including a reference to that statute or statutory provision as from time to time amended modified and extended or re-enacted whether before or after the date of this agreement and to all statutory instruments, orders and regulations for the ..... apparatus, articles, plant, machines and accessories capable of being used in that connection or in connection with cinernatograph or television shows, exhibitions and entertainments; 128i. to act as agents in the engaging, providing and employing of, artistes, actors, singers, dancers, variety performers, sportsmen, lecturers, instructors, entertainers and any other persons .....

M/S. Jindal Drugs Ltd., Vs. the Dy. Commissioner of Income Bakhtawar

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... /- as informed by the assessee. 5. we have heard both the parties in the dispute. the undisputed facts are that the instant ay relates to the period prior to the amendment to section rule 8d of the i t rules, 1962. reasonable basis is the mantra to be followed by the ao after rejecting the basis adopted by the assessee. in ..... the number of workers as well as the nature of works rendered by them. the statement given by the labour contractor namely uday singh u/s 131 of the act on 20.3.2007 also brought in x new information which will have bearing on the assessee's claim relating to commencement of the manufacturing process in the year under consideration. thus ..... is not justified and is accordingly deleted." 7. before us, ld counsel brought to our notice an identical issue raised in appeal before the tribunal vide ita no.37/m/2007 for the assessment year 2003-2004 by the revenue. further, he brought to our notice the contents of para 16 and mentioned that the advances in question are the same .....

M/S. Arco Electro Asst. Commissioner of Technologies Pvt. Ltd. Vs. Ran ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... that which has a tendency to be injurious to public welfare and public policy comprehends only the protection and promotion of public welfare. the question whether elimination of competition in trading is opposed to public policy cannot be considered in isolation de hors the nature of the trade, privilege or the right with respect to which an ..... of rs.42,09,552/- paid being business expenditure incurred in course of the business be allowed in full and addition deleted. 2. the appellant craves leave to add amend or alter any or all of the ground of appeal. 2. assessee-company, engaged in the business of manufacturing of brush holder, rocker ring assembly and lead wire ..... , filed its return of income on 31.10.2007 declaring total income at rs. 3.56 crores. initially, the return was processed u/s. 143(1) of the income tax act, 1961(act). later on the case was selected for scrutiny and assessment was finalised by the assessing officer (ao) .....

Hercules Hoists Limited Acit Vs. Mumbai

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... 402 sc; k.p. varghese vs. ito [1981] 131 itr 597 (sc)). in fine, the absence of definition of the initial assessment year in section 80-ia, as amended by finance act, 1999 w.e.f 01.04.2000, even as its earlier version bore the same (per section 80-ia(12)), is not an 'omission' (which in any case ..... or indirect expenses. the dispute, thus, essentially is in respect of the disallowance u/s.14a qua the interest expenditure. rule 8d, though not mandatory up to ay 2007-08, yet provides a reasonable basis for imputing the interest expenditure attributable to the exempt income on the basis of the proportionate investment, reckoned on an average basis for the ..... is required and relevant is the existence of a 'reason/s to believe' that income chargeable to tax had escaped assessment. several decisions, viz. piaggio vehicles (p.) ltd. v. cit(2007) 290 itr 377 (bom.); consolidated photo and finvest ltd. v. asst. cit (2006) 281 itr 394 (del.); and multiscreen media (p.) ltd. v. union of india (2010) .....

Johnson and Johnson Limited Vs. Commissioner of Income Tax-ltu

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... royalty. ld. ar further submitted that similar issue was also considered by itat, mumbai bench in assessees own case for assessment year 2002-03 in ita no.4092/mum/2007 vide its order dated 28.8.2013 (relevant para 42) and the tribunal deleted the disallowance made by tpo on that account. he submitted that the tribunal also observed ..... . assessee has filed this appeal against order of assessing officer dated 27.10.2010 passed u/s 143(3) r.w.s.144c(13) of the income tax act, 1961 (the act). 2. brief facts giving rise to this appeal are that assessee is an indian company and it is a subsidiary of johnson and johnson inc. us who is holding ..... held by tribunal that cess on royalty is payable to central government by an industrial concern which imports technology, as per section 3(2) of research and development cess act, 1986. the tribunal held that research and development cess is payable by the assessee which is importing technology and therefore no adjustment could be made for the same in .....

income-tax Officer Vs. Vickers Sperry of India

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD739(Mum.)

..... of the revenue's stand appears to be based on the following part of the statement of objects and reasons given while piloting the indian income-tax (amendment) act, 1946, for inserting these provisions [section 10(2)(xiv)] : this clause purposes to allow expenditure on scientific research related to a business or to the ..... intention in india. this is what was stated in the indian legislature while moving the indian income-tax (amendment) act, 1946 : the proposals follow generally (emphasis supplied by us) the provisions in the united kingdom finance act, 1944 ; it has been described by the chancellor of exchequer as a comprehensive attempt to relief from ..... manufacture and sale of hydraulic equipments and accessories. the business requires the final products to conform to rigid international standards and specifications and to match in the competitive world market. with this end in view, the assessee, inter alia, incurred a capital expenditure of rs. 1,53,301 during the previous year relevant .....

Chatrabhuj Dwarakadas Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD147(Mum.)

..... number of clauses have imposed certain conditions and restrictions for the finalisation of transactions. such conditions were as permission from urban land ceiling regulation act which was obtained on 25-6-1996. likewise, ministry of environment & forest has amended the clearance on 7-2-1996.the municipal corporation has sanction the plan by a letter dated 5-9-1996. after pointing the ..... by the assessee for the assessment year 1999-2000 was not in accordance with the provisions of income-tax act. though it is not important to comment but still the assessee is at liberty to take suitable action if deem fit for necessary amendment or rectification as per law.20. finally on behalf of the assessee an order of the tribunal in .....

The Asst. Cit Vs. Prime Securities Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96TTJ(Mum.)553

..... made. in the proceedings before the learned cit(a) the appellant had himself reiterated that their only objection was towards the procedure applied.further any delay in amendment of the assessment order would also cause hardship to the assessee in a manner that interest under section 234b and 234c would keep mounting. the learned assessing ..... were conflicting decisions on the interpretation of the contracts regarding on period and off period salary. ultimately the legislature stepped in to clarify the position by the finance act of 1999. during the a.y. 1992-93 the position was not clear and while bona fide dispute was pending the assessee had to estimate his current ..... be treated as the original return of income. the assessee disputed this finding on the grounds that the provisions of section 139(9) and 292b of the act saved the return of income as originally filed. the learned assessing officer held that the provisions of section 139(9) had enumerated the defects for which opportunity .....

Cybertech Systems and Software Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)3SOT121(Mum.)

..... qualifies as an article or thing is production of a computer programme.2. the words "computer programme" is not defined in the income tax act, however, the copy right act, 1957 as amended in 1994 defines as "a set of instructions expressed in words, codes, scheme or any other form including a machine readable medium capable of ..... appeal did not have any enabling provision at all, the question of retrospective application of the notification issued subsequent to the amendment brought in the act does not arise. the amendment brought in by the finance act, 2000 with effect from 1-4-2001 is the line of demarcation in the present case. the effect of the notification ..... , perforated media or other information storage device and includes such programme which is transmitted from india to a place outside india by any means". this was amended by finance (no. 2) act, 1998 with effect from 1-4-1999 by which after the words "any such programme" and before words "which is transmitted from india" the words .....

Dy. Commissioner of Income-tax, Vs. Bifora Watch Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)94ITD203(Mum.)

..... record. in the case of cit v. j.k.synthetics (supra) their lordships of supreme court examined provision of section 143(1a) of the income-tax act amended retrospectively through finance act, 1993 with effect from april 1,1989 and held that substituted sub-section (1a) has made it clear that even where the loss declared by an assessee ..... . now the assessee is only in the capacity of respondent before us.59. before us, the learned departmental representative contended that in view of the amendment made in statute by finance act, 1991 with retrospective affect from 1-4-1989, the law has been made clear that additional income-tax is leviable even where the loss declared is ..... shri a.k. tiwari, the learned d.r., submitted the he order of the cit(a) cannot survive in view of the respective amendment made to section 143 (1a) of the act. the retrospective amendment, in substance, provides that assessee will be liable to pay additional tax even in a case where there is reduction in returned loss on .....