Judgment Search Results Home > Cases Phrase: designs act 2000 chapter 4 industrial and international exhibitions Sorted by: old Court: income tax appellate tribunal itat ahmedabad Page 1 of about 14 results (0.090 seconds)

Vahid Paper Converters and ors. Vs. Ito and ors.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)98ITD165(Ahd.)

..... chapter vi-ai profits and gains as computed under the act is to be taken and not the commercial profit.in support of this contention, he relied upon the decisions in the cases of cambay electric supply industrial ..... nani daman-------------------------------------------------------------------------------------2 2520/a/2004 siddh " shri ketan h ay:-2001- international, shah-------------------------------------------------------------------------------------3 3064/a/2004 shree " none shri pk ay:-2001- fashion ..... submissions 2002 and plastics baroda-------------------------------------------------------------------------------------15 3265/a/2004 bahadurbhal " shri snl " ay:-1999- s bhanwadia agrawal, 2000 advocate-------------------------------------------------------------------------------------16 3266/a/2004 " " " " ay:-2000-2001-------------------------------------------------------------------------------------17 3267/a/2004 " " " " ay:-2001--------------------------------------------------------------------------------------18 3336/a/2004 pacific " " " ay:-1999- plastics-------------------------------------------------------------------------------------19 3338/a/2004 roshman pet " " " ay:-2001- plat-------------------------------------------------------------------------------------20 3393/a/2004 m/s deep " " " ay:-1999- jyoti textile-------------------------------------------------------------------------------------21 3394/a/2004 m/s deep " " " ay:-2000- jyoti textile .....

Core Health Care Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... shown to have affected the other business because out of five different businesses, three had closed down without affecting the remaining two businesses; (vi) different books of account were maintained for each business and separate p & l account and balance-sheet were prepared, in respect of each business, although ultimately the accounts were consolidated into a common account; (vii) the overall control of the board of directors, over-all ..... in vadilal dairy international's case (supra) and in grasim industries ltd 's ..... ', in which it was held that interest paid, for the period prior to commencement of production on amounts borrowed by the assessee for acquisition and installation of plant and machinery forms part of actual cost of the assets within the meaning of section 43 of income-tax act, 1961 and will qualify for grant of depreciation and development rebate under sections 33 and 34 of income-tax act, 1961.the judgment of the hon'ble supreme court in challapalli sugars ltd ..... the result of the accounts of the different venture was entered in the accounts maintained at the head office, no inference necessarily arose that the exhibition of films in different theatres constitute the same business.27 ..... third member in his order dated 12-5-2000 has agreed with the view taken by the accountant member and held that the disputed amount of ..... . mahendra mills [2000] 109 taxman 225 at page 247 (243 itr 56) in which it was held by the apex court that it is optional ..... [ ..... heard at ahmedabad on 26-4-2000 .....

Core Health Care Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)70TTJ(Ahd.)490

..... the pre-production period in respect of expansion of the existing business is clearly allowable in view of the judgment of the hon'ble jurisdictional high court in the case of alembic glass industries and the judgment of the supreme court in the case of india cements ltd. ..... as well as the decision of gujarat high court in the case of alembic glass industries (supra) and the same is clearly deductible under section 36(1)(iii) of the income tax act, 1961.the matter will now go back to the division bench in order to decide the matter according to the majority view as per section 255(4) of the income tax act, 1961.these two cross appeals were heard by ahmedabad bench "c" comprising of s/shri ..... circumstances that the result of the accounts of the different venture was entered in the accounts maintained at the head office, no inference necessarily arose that the exhibition of films in different theatres constitute the same business.shri gupta submitted that in the present case, the new unit is of larger dimension. ..... (2000) 14 dtc 27 (jp-trib) : (2000) 74 itd 25 (jp-trib) in vadilal dairy international ..... it was held that it could not be said that the venture of prakash talkies was a part of the general business of exhibition of films carried on by the assessee and, therefore, the sum of rs. ..... supreme court held that on the facts, it could not be said that the venture of prakash talkies was a part of general business of exhibiting films carried on by the appellant and, therefore, the sum of rs. .....

Core Health Care Ltd. Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... for the pre-production period in respect of expansion of the existing business is clearly allowable in view of the judgment of the hon'ble jurisdictional high court in the case of alembic glass industries and the judgment of the supreme court in the case of india cements ltd. ..... (2000) 66 ttj (jp) 3, in vadilal dairy international ..... circumstances that the result of the accounts of the different venture was entered in the accounts maintained at the head office, no inference necessarily arose that the exhibition of films in different theatres constitute the same business.141. ..... of the actual cost of the assets to the assessee and it is in the light of that actual cost that the question of depreciation has to be considered by the tax authorities and as such the same was rightly capitalised by the assessee in its books of account and subsequent claim of the assessee to treat a part of that expenditure on revenue account on pro rata basis is not tenable in law as there is no specific provision in the it act for allowance of such expenditure treating same to be of ..... intent nor does it conform to accepted accounting principles, with a view to counter-acting tax avoidance through this method any placing the matter beyond doubt, the bill seeks to provide that any amount paid or payable as interest in connection with acquisition of an asset and relatable to a period after the asset is first put to use shall not form part and shall be deemed never to have formed part of the actual cost of the .....

United Phosphorus Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)81ITD553(Ahd.)

..... in which it was, inter alia, held that the profits and gains of an industrial undertaking to which section 84 of the it act (provisions similar to sections 80j, 80-i and 80-ia) applies have to be computed in accordance with the provisions contained in chapter iv-d of the act and development rebate has first to be deducted from the total income and it is only thereafter, if any profits and gains remain from to is business, that the benefit under section ..... the fact that depreciation under section 32 is eligible on the basis of the "block of assets" for the company as a whole and not in respect of individual assets of the concerned industrial undertakings and accordingly depreciation cannot be allocated to the different industrial undertakings as per the scheme of the income-tax act, 1961 in respect of allowance of depreciation on the concept of "block of assets".13.3 in view of the above grounds of appeal, the ..... the chart showing the income by way of advance licence booked by the appellant company in the books of account for assessment years 1992-93 to 2000-2001 and the corresponding figures of such advance licences benefit actually utilised in these nine years given in para-6 at page 28 shows that the quantum of income accounted ..... material or the duty paid imported raw material and the international price of raw material should be adjusted in the books by reducing the cost of raw materials already utilised for exports and debiting receivable account in case the licence ..... designation .....

United Phosphorus Limited Vs. Joint Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)73TTJ(Ahd.)404

..... itr 768 (sc) in which it was, inter alia, held that the profits and gains of an industrial undertaking to which section 84 of the income tax act (provisions similar to sections 80j, 80-i and 80-ia) applies have to be computed in accordance with the provisions contained in chapter iv-d of the act and development rebate has first to be deducted from the total income and it is only thereafter, if any profits and gains remain from this business, that the benefit under section 84(1) would be ..... " after perusing the aforesaid chart, the bench required the learned representative of both the sides to consider as to whether such a litigation from assessment year 1992-93 to 2000-2001 in relation to the aforesaid point is going to give any real gain or loss to either side.the taxability of the benefit by way of advance licences for importing ..... reasonable certainty as to the receipt of import licence and the measurability of its benefit, the difference between the price of locally purchased raw material and the duty-free raw material at prevailing international price should be measured at the end of the year and it should be adjusted in the books by reducing the cost of locally purchased raw materials already utilised for exports and debiting receivable account. ..... same considerations, it is not proper to defer a portion of the cost of locally purchased raw materials by accounting the difference between consumption of raw material at the local price and the international duty-free price.shri s.n. .....

Deputy Commissioner of Vs. Mira Industries

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2003)87ITD475(Ahd.)

..... focus of this industrial legislation and the social perspective of part iv of the paramount law drive us to hold that the dual goals of the act are contentment of workers and peace in the industry and judicial interpretation should ..... made by the assessee with the bank for obtaining letter of credit, there was a direct nexus between the earning of interest on the fixed deposit with the banks and manufacturing activity of the industrial undertaking because the fixed deposits were made in order to open the letter of credit to facilitate the smooth running of business of manufacturing.the pune bench has also noted ..... if for the words "seven assessment years", the words "nine assessment years" had been substituted: prqvided also that in the case of an assessee, being a co-operative society, deriving profits and gains from an industrial undertaking or a ship or a hotel referred to in the third proviso, the provisions of that proviso shall have effect as if for the words "nine assessment years", the words "eleven assessment ..... objects and reasons, international thoughtways, popular understanding, contextual connotation and suggestive ..... and 232 of 2001] wherein also a similar question was raised and the high court noting the statement of the central government standing counsel and the learned counsel for the respondent that the controversy sought to be raised therein had already been concluded by the decision of the court dated 18-10-2000 ..... where the credit is designed to facilitate trade. .....

Acqua Minerals (P.) Ltd. Vs. Dy. Cit (Assessment)-sr-1

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2005)96ITD417(Ahd.)

..... assessee in respect of the scope of its operations, and which find mention, along with his own arguments/ reasoning, in his assessment orders for the relevant years, concluded that the assessee being engaged only in 'purification' of drinking water (for hygienic reasons), the industrial activity involved therein does not amount to 'manufacture' as contemplated under the act, and as such, is not eligible for deduction under section ..... the assessee's end product from the purview of excise (heading 22.01 covers "natural or artificial mineral water and aerated waters, not containing added sugar or other sweetening matters, not flavoured ice") nor is it covered under chapter 22.02 which include 'sweetened or flavoured mineral water'; and (c) that if such products are to be considered as excisable, tap water for domestic use supplied by the municipal corporation could ..... " and which clearly exhibits the knowledge, in the trade circles, of ..... bherhaghat mineral industries (2000) 246 itr 230 (sc) wherein the supreme court held crushing dolomite lumps into chips and powder is not a process of ..... case stand to be set off by the additional deduction on account of purchases, which would have to be allowed to the assessee-company.it may be that what the assessee contends before the cit(a) is true and that there has been a lapse on the part of the assessing officer in failing to mention about the factum, of the confirmation from the supplier having been filed before him, as also in his inference .....

Smartchem Technologies Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2005)97TTJ(Ahd.)818

..... 2000 64, 002 20-5-2000 24-6-2000 may, 2000 64, 204 20-6-2000 24-6-2000 total 1, 28, 206 july, 2000 2, 400 20-8-2000 9-3-2001 august, 2000 2, 400 20-9-2000 9-3-2001 september, 2000 2, 400 20-10-2000 9-3-2001 october, 2000 3, 840 20-11-2000 7-12-2000 november, 2000 3, 840 20-12-2000 9-3-2001 december, 2000 3, 840 20-1-2001 9-3-2001 january, 2001 3, 840 20-2-2001 9-3-2001 total 22, 560 details of disallowance under section 43b of the act ..... of the market share (which includes both quantitative and financial dimensions) its product(s) enjoys; its product cost being governed by the product quality on one hand, and the technology employed (for production) and/or the effectiveness of its management, on the other; all essentially internal variables, which may be deemed as quasi ..... cit (i) the brief facts in this case were that the assessee, which was carrying on business of arranging exhibition of advertisement and film shorts in licensed public cinema theatres in the four southern states of madras, andhra, kerala and mysore, entered into an agreement with one s, who was also carrying on similar business on behalf of ..... and sale of the products manufactured by the assessee, was to obtain manufacturing licence and technical know-how including drawings, design, specifications and other technical information, to enable the assessee make ..... industry/plant so purchased was to include entire business undertaking situated at ponada including movable and immovable properties and all other tangible and .....

income-tax Officer Vs. Adani Port Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)108ITD1(Ahd.)

..... assessee had earned any income by way of consultancy fees; that the receipts were for project of mundra port, which the assessee had planned out to establish as a port and for this purpose, the assessee was studying various factors through international agencies and incurred huge expenditure and thus had detailed analysis and report on the subject; that fee was for technical know-how which was obtained by the assessee by incurring huge expenses ..... counsel for the assessee tried to make out his case by way of an example relating to working textile industry and by submitting that if the assessee starts a project of establishing a textile industry and for that purpose it establishes utility facilities such as providing steam, etc. ..... in response to show-cause notice for assessment year 1997-98, the assessee filed two replies dated 14-3-2000 & 24-3-2000 respectively.9.1 in reply letter dated 14-3-2000, the assessee claimed that its case was covered by the decision of hon'ble supreme court in the case of cit v. ..... (iv) that the drawings, designs, charts, plans, processing data and other literature comprised in the "documentation service" as specified in clause 3 constituted a "book" and fell within the definition of "plant" in section 43(3) of the income-tax act, 1961. .....