Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Court: income tax appellate tribunal itat mumbai Page 16 of about 294 results (0.190 seconds)

Chemosyn Pvt. Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... to indicate the month-wise frequency of use of the company's products by the doctor such as occasional prescriber, buyer of wyeth, products, buyer of competitive products, selected for wyeth products or consistent prescriber (presumably of that company's products). there is a column which indicates the average monthly rx support which ..... the business of the assessee because, without dispelling the fear, the workers would not have come to work. moreover, the expenditure was on employees and the retrospective amendment to section 37(2a) does not apply to such an expenditure. in any case, the commissioner of income-tax (appeals) has sustained the disallowance suitably, i. ..... income-tax (appeals) erred in upholding the inclusion of the following expenses for the purpose of calculating the disallowance under section 37(3a) of the income-tax act, 1961. 3. without prejudice to ground no. 2 above and in the alternative, the learned commissioner of income-tax (appeals) erred in not accepting your .....

A.C.i.T. Vs. Shri Narendra I. Bhuva

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)84TTJ(Mum.)208

..... that the value of gold ornaments and jewelry should not be included in the w.t. assessment of the assessee. subsequently there was an amendment in the order of itat and it was held in the amended order that the value of gold ornaments and jewellery should be included in wealth tax assessment. when the matter came before hon'ble madras ..... and decision of hon'ble supreme court in reproduced below: for a proper decision of the point in question, it is necessary to refer to section 2(4a) of the act, the relevant portion whereof runs thus : "2(4a) 'capital asset' means property of any kind held by an assessee, whether or not connected with his business, profession or ..... over the years which has been allowed to him. this goes to establish that the car was a personal effect therefore outside the purview of section 2(14) of the act. (ii) as far as the arguments of the assistant commissioner's are concerned we respectfully submit as under : (a) the assessee even though was using company car, the .....

Mr. Parashuram D. Patil Vs. Asst. Commissioner of I.T.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... bombay high court in the case of cadell wvg. mills co. ltd. 249 itr 265 as well as, as per amended section 55(2) of i.t. act. in regard to this land, the ld. counsel has given certain facts in the written submissions and the same are reproduced ..... of the said plot of land. we hold that the gains earned by the assessees are taxable as per the amendment of section 55(2) by the finance act, 1994 w.e.f 1-4-95. as the assessee acquired the plot prior to 1974 and transferred the ..... not justified in treating the profits earned by the assessee as business profits. but the ld. counsel fairly conceded that in view of amendment of section 55, the profits earned by the assessee are taxable as long-term capital gains.36. i the ld.counsel relied upon ..... material placed before us. we hold that profits earned by the assessee were taxable as long term capital gains in view of the amended provisions of section 55. however, we hold that while working out the capital gains, the cost claimed by the assessee at rs. .....

Parshuram D. Patil Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)102ITD241(Mum.)

..... court in the case of cadell wvg. mill co. (p.) ltd v. c/r . as well as, as per amended section 55(2) of it act.in regard to this land, the ld. counsel has given certain facts in the written submissions and the same are reproduced as ..... of the said plot of land. we hold that the gains earned by the assessees are taxable as per the amendment of section 55(2) by the finance act, 1994 with effect from 1-4-1995. as the assessee acquired the plot prior to 1974 and transferred the ..... not justified in treating the profits earned by the assessee as business profits. but the ld. counsel fairly conceded that in view of amendment of section 55, the profits earned by the assessee are taxable as long-term capital gains.36.1 the ld. counsel relied upon ..... material placed before us, we hold that profits earned by the assessee were taxable as long-term capital gains in view of the amended provisions of section 55. however, we hold that while working out the capital gains, the cost claimed by the assessee at rs. .....

Asst. Commissioner of Income-tax Vs. Star India Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)117TTJ(Mum.)577

..... the business' for the purpose of section 80hhc will not include profits, of any branch, warehouse, etc., situated overseas. 32.15. these amendments will take effect from 1st april, 1992, and will, accordingly, apply in relation to assessment year 199293 and subsequent assessment years.36. ..... would be appropriate to mention that the explanation i to section 32 of the act was brought on the statute book w.e.f. 1.4.1988 by taxation laws (amendment and misc. provisions) act, 1986. the said explanation reads as under: explanation 1.--where the business ..... high court in the case of zodiac clothing co. order dated 27/2/2008 in i.t.a. no. 1596/mum/2007.32. in the rejoinder, it was firstly submitted by him that the claim of the assessee cannot be allowed merely on the ..... (cbe) ltd. 76 ttj 38 itat order in the case of mckinsey knowledge center ita no. 4382/del/2005 dt. 23/11.2007.31. alternatively, it is contended that if receipts are held to be excluded out of the profits of business then it should be .....

Laxmichand Bhagaji Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1994)48ITD322(Mum.)

..... 1986-87 and 1987-88 was nil. it was also explained that the business was closed down subsequently because of the regulations contained in the banking laws (amendment) act, 1983. in the light of this, it was submitted that there was no particular benefit in pursuing the quantum appeal since the benefit of carried forward ..... that no fresh deposits had been accepted during the previous year relevant to the assessment year 1985-86. our attention was also invited to the banking laws (amendment) act, 1983, already referred to by us earlier, according to which the assessee was debarred from receiving fresh deposits with effect from 1st february, 1984, where the ..... the assessee had not accepted any fresh deposits during the accounting year 1984. it was also submitted to the assessing officer that as per the amendment brought by the banking laws (amendment) act, 1983, effective from 1st january, 1984 (sic), the assessee was debarred from receiving deposits from more than 250 persons and in case the .....

Sonal Garments Vs. Joint Cit, Special Range 33

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)95ITD363(Mum.)

..... cit (2002) 82 itd 306 (mum), wherein it has been held that the position has been changed after omission of section 34 by the taxation law (amendment) and miscellaneous provision act with effect from 1-4-1988. after the omission of section 34, there does not remain any condition of furnishing of the information to be eligible to ..... itr 56 (sc), it was optional for the assessee to claim current depreciation.the assessee did not claim depreciation according to such discretion.he further contended that amendment came by way of explanation 5 to section 32 is prospective in nature and reference in this regard is made to the decision of kerala high court in ..... disallow the deduction under section 263 and further erred in not following judgment of bombay high court and supreme court and further erred in not considering that the amendment of section 32(1) of allowing depreciation by proposed finance bill, 2001 is not retrospective.4. the learned cit(administration) has erred in not considering that .....

i.C.B. Limited Vs. the I.T.O.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)93ITD418(Mum.)

..... figures given in the working/calculation by assessee, we send the matter to assessing officer for the said limited purpose and direct the assessing officer to amend/vary the figures, if need be, after verification/examination of the working furnished by assessee and allow deduction under section 80mm accordingly keeping in view ..... of assessee company and the regional manager, delhi, were for alleged leakage of some classified and secret documents under the officials secrets act and prevention of corruption act. the criminal act, as complained of above, does not seem to be for the purpose of carrying on assessee's business, nor does the same ..... , delhi and chairman of the assessee company from criminal proceeding/prosecution for alleged leakage of some classified and secret documents under the official secrets act & prevention of corruption act. no further/specific details of cbi's allegations against the regional manager, delhi and chairman of the assessee company, are available on record. .....

Morarjee Goculdas Spg. and Wvg. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)98TTJ(Mum.)201

..... 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 s. 158bb(1) by the finance act, 2002 with retrospective effect from 1st july, 1995 to the effect that the undisclosed income shall be computed "in accordance with the provisions ..... 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. 1st july, 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 1st july, 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 .....

Sterlite Industries (India) Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)102TTJ(Mum.)53

..... was held to be clarificatory by the hon'ble apex court and, therefore, when the 2nd proviso is omitted and the 1st proviso is amended, the amended proviso should also be held to be clarificatory and, therefore, applicable to all pending proceedings. we, accordingly, respectfully following the ratio of the ..... provisions of parts with the provisions of parts ii of schedule vi ii of schedule vi to parts ii of schedule vi to companies act. companies act. to companies act._______________________________________________________________________________________accounting -- while preparing p&l while preparingp&l a/c, for a/c, the depreciation the depreciation shall bedepreciation shall be ..... decision in the case of allied motors (p) ltd. (supra) hold that the 1st proviso as modified by the finance act, 2003, would be applicable .....