Judgment Search Results Home > Cases Phrase: eligible transaction Sorted by: old Court: delhi Page 1 of about 1,183 results (0.035 seconds)

The Commissioner of Income Tax Delhi-iv Vs. Dlf Commercial Developers ...

Court : Delhi

..... stock exchange;] shall not be deemed to be a speculative transaction, [explanation four the purpose of this clause, the expressions ita 94/2013 page 7 (i) eligible transaction means any transaction - (a) carried out electronically on screen-based systems through a stock broker or sub-broker or such other intermediary registered under section 12 of the securities and exchange board of india ..... holdings of stocks and shares through price fluctuations; or (c) a contract entered into by a member of a forward market or a stock exchange in the course of any transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of his business as such member (or) (d) an eligible transaction in respect of trading in derivatives referred to in clause {(ac)} of section 2 of the securities contracts (regulation) act, 1956 (42 of 1956) carried out in a recognized ..... that since the expression derivatives is defined only in section 43 (5) and since it excludes such transactions from the odium of speculative transactions, and further that since that has not been excluded from section 73, yet, the court would ..... whereby its contention about inapplicability of explanation to section 73 of the income tax act, 1961 in respect of its transactions, and the resulting relief in carry forward of its losses for the previous year, in respect of its ita .....

Cit V Vs. Nasa Finelease P Ltd.

Court : Delhi

..... proviso (d) to section 43(5) inserted with effect from 1st april, 2006 stipulates that eligible transactions should have been conducted/carried out only in recognized stock exchange, to be notified. ..... assessing officer relying upon the explanatory memorandum observed that the transactions undertaken between july, 2005 to september, 2005 were before 25th january, 2006 and, therefore, the derivative loss was not eligible under proviso (d) to section 43 (5) of the act ..... the derivative transactions between july, 2005 to september, 2005 were not eligible. ..... income tax appellate tribunal (tribunal, for short), the respondent has succeeded on the first issue and it has been observed that they were entitled to benefit under section 43(5) proviso (d), even in respect of transactions carried out with effect from 1st april, 2006. ..... with the tribunal that the delay occasioned, as procedure and formalities have to be complied with, should not disentitle and deprive an assessee, specially, when the transactions were carried through a notified stock exchange. ..... secondly, the derivative transactions were during the period july, 2005 to september, 2005 and proviso (d) to sub-section 5 to section 43 ..... the memorandum stipulated that transactions in respect of trading in derivatives in the aforesaid two stock exchanges with effect from 25th january, 2006 shall not be deemed to be speculative transactions. ..... the transactions in question it is accepted and an admitted position were conducted in the national stock .....

Mrs. Padma JaIn Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

..... persons in whose favour the appointment may be made) of property vested in any person, not the owner of the property, to determine its disposition in favour of any person other than the donee of the power; and (d) any transaction entered into by any person with intent thereby to diminish directly or indirectly the value of his own properly and to increase the value of the property of any other person;" section 4 of the act deals with deemed ..... " thus, the word gift means the transfer of existing property both movable and immovable by one person to another made voluntarily without consideration and it also takes care of certain other transactions which may not be directly covered by the operative part of the definition in section 2(xii) and seeks to exclude transfer within the meaning of section 4 which contemplates deemed gift for the purpose of the act. ..... apart from this, the revenue has not been able to show by arriving at any positive finding that the transaction was not a bona fide one and hence was a deemed gift within the meaning of section 4(l)(c) of the act. ..... in such circumstances there was no transaction eligible to lax within the meaning of the gift-tax act." 9. ..... nor was the revenue able to show by arriving at any positive finding that the transaction was not a bona fide one and hence was a deemed gift within the meaning of section 4(l)(c) of the act. ..... in such circumstances, we are of the view that there is no transaction exigible to tax within the meaning of the gift-tax. .....

Commissioner of Income-tax Vs. Surjan Singh,

Court : Delhi

Reported in : (2002)178CTR(Del)547; 101(2002)DLT21; [2003]260ITR351(Delhi)

d.k. jain, j. 1. in these ten references, at the instance of the revenue, the income-tax appellate tribunal, new delhi (for short the tribunal) has referred under section 256(1) of the income-tax act, 1961 (for short the act) the following question for our opinion:'whether on the facts and in the circumstances of the case, capital gains arising on transfer of agricultural lands in village nangal dewat, delhi is chargeable to tax?2. since in all the references an identical question has been referred, these are being disposed of by this common order.3. as the format of the question itself suggests, the issue arising for consideration is whether the agricultural land in village nangal dewat constitutes a capital asset within the meaning of section 2(14)(iii)(a) of the act and exigible to capital gain taxed on its transfer.4. the question posed being purely legal, it is unnecessary to state the facts of each of the cases, except to note that all the references pertain to the assessment year 1974-75.5. we have heard mr. r.c. pandey and mr. r.d. jolly, senior standing counsel for the revenue and mr. r.p. bansal, learned senior counsel for the assessed.6. in our view, the question referred for our opinion is no longer rest integra in view of the decision of the madras high court in s. hidhayathullah sahib v. commissioner of income-tax, : [1986]158itr20(mad) , approved by the apex court in g.m. omer khan v. commissioner of income-tax (addl.), : [1992]196itr269(sc) ; the decision of .....

M/S. Aravali International Vs. Jammu and Kashmir Bank Ltd. and Others

Court : Delhi

..... (a) payment for all eligible current transactions in indian rupees or asian monetary unit (amu) or in the currency of the participating country in which the other party to the transaction is resident. ..... as regards the first, the plaintiff has conclusively proved that in export transactions pertaining to member countries of the asian clearing union including bangladesh, the foreign exchange regulations mandate that payment can only be made in indian rupees or the currency of the participating country and, therefore, not in us dollars. ..... has adduced evidence to show that as per the reserve bank of india restrictions as contained in the guidelines and foreign exchange manual placed on record and marked as a for the sake of identification, it is provided that in export transactions with member countries of the asian clearing union which includes bangladesh, payment could only be made in indian rupees or in the currency of the participating country in which the other party to the transaction is resident and, therefore, not in us dollars. ..... that similarly in transactions pertaining to foreign exchange, all banks are required to inform the reserve bank of india by submitting gr-i forms with regard to documents sent under collection or otherwise and also the fate of the documents i.e. .....

Delhi Cloth and General Mills Co. Ltd. Vs. Municipal Corporation of De ...

Court : Delhi

Reported in : ILR1975Delhi174

..... the high court may also in appropriate cases determine the eligibility to tax of transaction the nature of which is admitted' etc. .....

Hukam Singh Inder Mohan Singh Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1986)18ITD1a(Delhi)

..... it would, therefore, be wrong to presume that the indian partners of the assessee-firm worked for the assessee-firm merely because there have been certain transactions between the assessee-firm and hukum singh swinder singh.24.3 shri swinder singh and inder mohan singh were, according to the assessee, playing no part in the managerial control of the ..... the assesste-firm was that the individual partner's assets had undertaken no transactions on their own but had entered into such transactions for and on behalf of the firm and, therefore, it was the firm which was eligible for double taxation relief and not the individual partners ..... . referring to the barter system introduced through indo-afghan trade agreement dated 20-3-1972, the assessee submitted that the transactions of exports to and imports from indian parties have been on principal to principal business (see paragraph 8 of the above note) and that 'the assessee-firm never exported goods to any agent in india so as to be ..... the assessee's contention that the firm is non-resident because the entire business is in kabul, because all the transactions are done there and the books are also written there, does not bear a moment's scrutiny. ..... to india, they were also fully accounted for and the transactions were through the banking channels and copies of bills, ..... 2.88 crores (afgani) and when the bulk of the transactions were with indian parties, the partners stationed in india would not be called upon to discharge any functions .....

Electrical Products Corpn. Vs. Collector of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1989)(43)ELT70TriDel

..... we find from the annexures attached to the order-in-original in the paper book that in case of large number of transactions in respect of exhaust fans and air circulators discounts of 27.8% and 20% respectively as declared in the price list, have been ..... the appellants, according to him, had not disclosed to the department the lower discounts allowed in the transactions and the portion of the differential discount passed on to the wholesale dealers was in the nature of commission which was not abatable for the purposes of ..... context, therefore, the peculiar facts and circumstances of the case we hold that in respect of all transactions the appellants have passed on the full discount as shown in the approved price list. ..... practice the said company are found to have allowed only @ 15% discount to such transactions and it is obvious that their declaration in the price list has got no practical ..... hold that the appellants were eligible for full discount as approved by the departmental authorities in respect of whole range of transactions. ..... what is required is that the discount should be available in respect of the transactions or sales and known to be so at the time of sale irrespective of the fact whether discount is mentioned in the invoice or is passed ..... the appellants also pleaded before the collector that 60% of their transactions in the case of one item and 70% in the case of other item were directly to the wholesale dealers and the discount given was as per their declaration in the .....

international Research Park Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)50ITD37(Delhi)

..... are, therefore, of the opinion that for the assessment years under appeal 1990-91 and 1991-92, the commission receipt is a part of the export profits and, therefore, it is eligible to be included in the "profits of the business" for the purpose of calculating the relief under section 80hhc and it is not necessary for the profits to exist in export ..... 5, the entire profit received in indian currency in respect of local transaction would be eligible for deduction under section 80hhc and this is not the intention of the legislature but this would be distortion ..... thus, a seafood processor, for example, or any other processing unit exporting goods or merchandise through an export house/trading house, will now be eligible to claim deduction under section 80hhc on the condition that he obtains a disclaimer certificate from the export house/trading house ; (iv) under the existing provisions, deduction under section 80hhc is allowed if the ..... profit derived from the exports out of india is to be arrived at by apportioning the total profit of all trading transactions of the assessee in the same ratio as the export turnover bears to the total turnover (the trading turnover). 9. ..... in order to determine the profits derived from export of qualified goods, the profits of the business relating to trading transactions by the assessee (whether inside india or export out of india) shall be apportioned in the same ratio as the export turnover of the assessee of qualified goods bears to the total turnover .....

Nirav International Vs. Collector of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1995)(80)ELT173TriDel

..... rule 8 of customs valuation (determination of price of imported goods) rules, 1988, envisages that, subject to the provisions of rule 3 of the said rules, where transaction value cannot be accepted and cannot also be determined in terms of the provisions of rules 4, 5, 6 and 7, the same shall be determined using reasonable means consistent with the principles and general provisions of these rules ..... matter was adjudicated by the collector of customs, madras who observed that the invoice filed and value declared were not prima facie eligible for acceptance as transaction value for purpose of rule 4 of the valuation rules. ..... we observe that for any claim for acceptance of transaction value, the pre-requisite is satisfaction of the conditions as set out under sub-rule (2) of rule 4 of the valuation rules ..... it is clearly envisaged in the rules that the transaction value would be accepted provided that the conditions set out in sub-rule (2) of rule 4 ..... aware of the difficulties the customs face in ascertaining the correct value in circumstances when the deals are between two parties, the facts are not visible, and the transaction is covered by a veil of secrecy. ..... we are afraid, cannot form the basis for acceptance of the transaction value. ..... 's plea is that they entered into a contract over telephone and whatever prices have been agreed to should be taken to be the transaction value. ..... it has been observed that in case of mis-declaration the declared price was not to be the transactional value. .....