Judgment Search Results Home > Cases Phrase: customs tariff amendment act 2003 chapter x cereals Sorted by: recent Court: income tax appellate tribunal itat mumbai Page 1 of about 6 results (0.158 seconds)

Mrs. Mudra G. Nanavati Vs. the Dcit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... (supra) has been considered by the tribunal in the case of m/s vin vish corporation ltd. in that case search under the customs act was earned out by the customs authorities. section 37(2) of the customs act provide that provisions of the crpc relating to searches shall so far as may be applied to the searches directed under section 37(1 ..... or based on a concession or takes a view which it is impossible to arrive at or there is another view in the field or there is a subsequent amendment of the statute or reversal or implied overruling of the decision by a higher court or same such or similar infirmily is manifestly perceivable in the decision such ..... search. in that context hon'ble supreme court while examining the provision held that conditions provided in section 165 of the crpc are to be followed by the custom officials while conducting the search. if they have deviated from those conditions then they are supposed to give justification for the deviation when a challenge before the court .....

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)11TTJ(Mum.)502

..... .capital gains were subjected to the charge of income-tax for the first time in india by the income-tax and excess profits tax act (amendment) act, 1947, which inserted, inter alia, section 12b in the it act, 1922 from asst. yr. 1946-47. quite obviously, the provisions analogous to sections 45, 50 and 50b of the present ..... there was only one single buyer of the railway goods produced by the assessee in india, i.e., chittaranjan loco works. entire transportation business was dependent upon this single customer and no free market existed. he invited our attention to five factual aspects of the case, namely, (i) entire arrangement was part of global restructuring; (ii) ..... on the ground that the impugned receipts were intended to compensate the assessee for loss of profit arising on transfer of the business relating to one of its customers namely railways, to the purchaser without impairing the trading structure of its business. in support of his submission he referred to the decision of the hon' .....

Ms. Aishwarya Rai Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD166(Mum.)

..... the extent of the amount of such expense, deduction or allowance, the amount will be treated as undisclosed income for the purpose of chapter xiv b of the act. the amendment brought in the ambit of undisclosed. income any false claim of expense, deduction and allowance. the term expense is something, which is incurred for earning the ..... course of search which led to the inquiry and in this process this undisclosed income was detected. he submitted that in the amended definition of undisclosed income as contained in section 158b(b) of the act false claim of exemption of income is covered and therefore the assessing officer was right in including this income in the block ..... which has not been or would not have been disclosed for the purposes of this act, or any expense, deduction or allowance claimed under this act which is found to be false.... perusal of the above provision shows that this section was amended by the finance act 2002 with retrospective effect w.e.f. 1.7.95. the last line .....

B. Sorabji Vs. Ito, Ward 20(1)(2)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)95ITD540(Mum.)

..... and the value of'such goods or merchandise declared in the shipping bill or bill of export as referred to in sub-section (1) of section 50 of the customs act, 1962 (52 of 1962), shall, for the purposes of this section, be deemed to be the sale proceeds thereof.(a) where the export out of india is ..... the assessee from exports of goods", it is obvious that the intended purpose of this amendment was to ensure that the deduction under section 80hhc comes into play only when the assessee is deriving profits from its export activity. the assessing officer observed that income ..... does not include a loss. this decision was also relied on by the assessing officer. the assessing officer was further of the view that since section 80hhc has been amended with effect from assessment year 1992-93, whereby the expression'total profits of business of the assessee' in the proviso, have been replaced by "total profits derived by .....

Mid East Port Folio Management Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD537(Mum.)

..... lesser amount of depreciation. this according to mr. patil, was the only change in the law w.e.f. 1st oct., 1996. thus, both before and after the amendment, the it act itself recognizes the claim for depreciation in respect of assets leased out under an slb transaction. it was, therefore, contended that slb transactions as such should not be viewed ..... & audit", section 59 lays down the general principles/for the board's finance. it inter alia says that the board shall carry on its operations and adjust its tariffs so as to ensure that the total revenues, after meeting all the expenses including depreciation leave such surplus as is not less than 3 per cent or such higher percentage ..... the assessee's case on facts. the controversy before the supreme court was not whether there was a lease of the motor vehicles by sundaram finance to the customer. the controversy was whether the transaction was merely a financing transaction or it was a sale of the motor vehicle by sundaram finance to the .....

The Icici Ltd. Vs. Dy. Cit, Special Range 36

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... amount of depreciation. this, according to mr. patil, was the only change in the law w.e.f. 1.10.1996. thus, both before and after the amendment, the income-tax act itself recognizes he claim for depreciation in respect of assets leased out under an slb transaction. it was therefore contended that slb transactions as such should not be viewed ..... accounts & audit". section 59 lays down the general principles for the board is finance. it inter alia says that the board shall carry on its operations and adjust its tariffs so as to ensure that the total revenues, after meeting all the expenses including depreciation leave such surplus as is not less than 3% or such higher percentage as may ..... the assessee's case on facts. the controversy before the supreme court was not whether there was a lease of the motor vehicles by sundaram finance to the customer. the controversy was whether the transaction was merely a financing transaction or it was a sale of the motor vehicle by sundaram finance to the .....