Judgment Search Results Home > Cases Phrase: expenditure tax act 1987 Page 10 of about 148,244 results (0.186 seconds)

Porritts and Spencer (Asia) Ltd. Vs. Deputy Commissioner of Income Tax ...

Court : Delhi

Reported in : (1997)58TTJ(Del)195

..... to this assessment year and also paid during this period and hence the claim was rightly made.11.1 after hearing the learned authorised representative, we are of the opinion that the liability of the expenditure crystallised during this period and also paid within the period under appeal and hence clearly allowable in nature. ..... a later stage was not accepted by the cit(a) and the disallowance confirmed.22.1 we have examined the facts of this ground of appeal and are of the opinion that though provision of any type is not allowable expenditure, yet under the peculiar circumstances and the assessed has received approval of the govt. ..... we are in full agreement with the learned authorised representative that any part of expenditure incurred on the staff or executive cannot be termed as entertainment particularly when the same was incurred in the office or factory premises during normal working ..... the learned authorised representative of the appellant argued that the expenditure in question was incurred for providing lunch and coffee to the executives in the office and factory premises of the assessee ..... next ground of appeal is in regard to disallowance of 1/4th of the expenditure on lunch for the executives at the mill and delhi office. ..... have also heard and discussed this ground of appeal in the earlier assessment year and held that in the absence of creation of any new asset the expenditure is clearly revenue in nature and should, thereforee, be allowed. ..... 1987-88 ..... of the it act. ..... of the it act. .....

Commissioner of Income-tax, A.P.-i, Hyderabad Vs. T.T.D. Co-op Stores ...

Court : Andhra Pradesh

Reported in : 1998(4)ALD7; [1998]232ITR109(AP)

..... . it istrue that where an amount is paid out of the net profits, it cannot be allowed as a business expenditure because business expenditure is to be allowed for ascertaining the net profit and not to be paid out of the net profits ..... an appropriation of its profits and accordingly cannot be allowed as a deduction and the appellate tribunal held that the rebate was to be related to a provisional price and hence it should be allowed as a deduction in appropriating trading profits and not as an expenditure incurred.6. for the assessment year 1982-83 the income-tax officer allowed the deduction of rebate only to the extent of profits of business ..... .(1) whether on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in holding that the payment of rebate to its members was the expenditure wholly and exclusively incurred for the purpose of its business ..... . commissioner of income tax 0043/1987 : [1987]167itr565(ap) where the question was answered in favour of the assessee under the relevant provisions of the co-operative societies act .....

Lucas T.V.S. Ltd. Vs. Commissioner of Income Tax

Court : Chennai

Reported in : [1997]224ITR282(Mad)

..... tribunal agreed with the view taken by the cit(a) that this would be part the expenditure of the distribution of the goods exported and would come under the first part of ..... : [1986]159itr487(mp) the madhya pradesh high court held that this item of expenditure was incurred by the assessee in connection with the execution of a contract for the supply of ..... cit (1994) 205 itr 227 also held that so far as the expenditure incurred on payment of interest to the bank and bank charges were concerned, it does not fall under any of the sub-clauses of cl. ..... the cit(a) upheld the disallowance of this claim on the ground that it is expenditure incurred in india for the distribution, supply or provision outside india of such goods and hence would be hit by the first part ..... obligatory item in all exports, since without such inspection, the goods could not be exported and that it was hence expenditure on the distribution of the goods within the meaning of the first part of s. ..... cit : [1987]165itr558(cal) held that the export agency inspection fee paid by the assessee for the purpose of obtaining the certificate, which was a necessary requirement for the export of goods, amounted to expenditure incurred for furnishing to a person outside india technical information for the promotion of sales of such goods within the ..... the it act, 1961, hereinafter referred to as the act. ..... act. ..... act. ..... relates to whether surtax paid is allowable as deduction in the assessment under the act. ..... 35b of the act. 9. in ..... of the act. 3. .....

Skylark Chit Fund and Financiers (P) Ltd. Vs. Assistant Commissioner o ...

Court : Delhi

Reported in : (1996)56TTJ(Del)669

..... the learned departmental representative, on the other hand, relying on the orders of the revenue authorities submitted that before any expenditure could be allowed, it is necessary for the assessed to show that the same were incurred for the business of the assessee. ..... in connection with its business it has to incur expenditure on providing tea, coffee and snacks to its constituents who visit the office day-to-day. ..... the expenditure being incurred for promotion of sales and wholly connected with business, merits no disallowance. ..... 250 of the it act :1.shri ashutosh vatsrs. ..... 1987-88 raising various grounds.2. ..... as no gir and permanent account numbers are specified, apparently the party is not assessed to tax. ..... 37 of the act. .....

Commissioner of Income-tax Vs. Southern Sea Foods Ltd.

Court : Chennai

Reported in : (1995)129CTR(Mad)79; [1995]215ITR176(Mad)

..... simply, the question that arises for consideration is, suppose an employee had spend two days in full and part of the third day in travelling, for the purpose of calculating expenditure in connection with travelling in terms of rule 6d of the income-tax rules, how has the same to be calculated 19. ..... , for the above reasons, to discharge with the view taken by the tribunal and hold that the tribunal has not acted legally in proceeding to make some sort of best judgment assessment itself without following the proper procedure in this regard. 16 ..... this issue, we are concerned with section 35b(1)(b)(1), (ii) and (v) of the income-tax act, 1961, which reads as follows : '35b. ..... the income-tax act is the law under which tax is levied, assessed and collected for any assessment year at any given rate or rates in respect of the total income of the previous years, as the case may be, ..... genuineness and proof play a very important role but the court, tribunal or any authority cannot presume something which is not envisaged in the evidence act, and which does not fall in the discretion as to the existence of any fact. ..... such a person who is chargeable under the act can claim the deduction, contribution or depreciation on various accounts including deduction on account of 'export ..... as follows : the expenses are incurred for any of the purposes set out in section 35b(1)(b)(i), (ii) and (v) for the purpose of promotion of exports, such expenses would qualify for deduction as per section 35b of the act. .....

Commissioner of Income-tax Vs. Navabharat Enterprises (P.) Ltd.

Court : Andhra Pradesh

Reported in : [1988]170ITR326(AP)

..... learned standing counsel for the revenue contends that the expenditure does not fall within any of the clauses under section 35b of the income-tax act and as such the exemption granted by the tribunal is not ..... a domestic company or a person (other than a company) who is resident in india, has incurred after the 29th day of february 1968, but before march 1, 1983, whether directly or in association with any other person, any expenditure (not being in the nature of capital expenditure or personal expenses of the assessee) referred to in clause (b), he shall, subject to the provisions of this section, be allowed a deduction of a sum equal to one and one third times the amount of such ..... this additional deduction over and above the normal deduction under section 37 of the act should be allowed if the expenditure is strictly within the contours of the items of expenditure comprised in clause (b) and if a liberal or stretched interpretation is given, the object of giving additional deduction will be defeated. ..... the context of considering whether such payment can be allowed as a deduction under section 35b of the act, the madras high court held that the commission paid for getting orders does not fall within the items of expenditure set out in clause (b). ..... referred at the instance of the commissioner of income-tax is : 'whether, on the facts and in the circumstances of the case, the assessee is entitled to weighted deduction under section 35b of the income-tax act, 1961, in respect of rs. .....

Bennet, Coleman and Co. Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... paid to the corpus fund of the times research foundation as research expenditure under section 35(1)(iii) of the income-tax act." 18. ..... of revision and in that connection, held the following, as per the head note at page 547 : "the jurisdiction vested in the commissioner under section 263(1) of the income-tax act, 1961, is of a special nature or, in other words, the commissioner has the exclusive jurisdiction under the act to revise the order passed by the ito if he considers that any order passed by him was erroneous in so far as it was prejudicial to the interests of the revenue ..... the institution mentioned below has been approved by the indian council of social science research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the income-tax act, 1961, subject to the following conditions : (i) that such funds collected by the foundation under this exemption shall be utilised exclusively for promotion of research in social sciences. ..... be stressed in this behalf are that it was as far back as 1937 that the cit had granted recognition to the provident fund maintained by the assessee under the relevant rules under the 1922 act, that such recognition had been granted after the true nature of the commission payable by the assessee to its salesman under their contracts of employment had been brought to the notice of the commissioner ..... the letter dated 18-12-1987 is now furnished at page 1-3 of ..... to the assessee on 18-12-1987, the iac, asstt. .....

A.C.i.T. and D.C.i.T. Vs. Shri Raghunath B. Taware

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)302ITR136(Pune.)

..... from that of the receipts and payments made by the assessee as a bookmaker on bets accepted by him so as to permit the revenue authority to tax the same independently at the maximum marginal rate of tax specified under section 115bb of the act.it is not in dispute that normal receipts of a bookmaker from accepting the bets from others is not assessable as winning from horse-races and is ..... income from any winning from horse race, gambling or betting races etc would not be aggregated with other income and as such these wind fall profits would be taxed at a flat rate of 40% of the gross receipts, douse 26 "note of douses of finance bill, 1986" reiterated that under the existing provisions any income by ..... 31.2 these amendments will apply in relation to the assessment-year 1987-88 and subsequent years.on reading the said circular, it is clear that the board is of a view that though; no deductions are allowed in respect of any expenditure or allowance in computing the income from the aforesaid sources as provided in section 58(4) of the act, where there is a diversion of an amount by overriding title as in the case of certain lotteries ..... the submissions of the assessee, as well as the arguments of authorized representative, the a.o had taken a view that the receipts from the tote winning is to be charged to tax at the flat rate of 40% by observing as under: i have considered the submissions made by the a.r in the letter filed on 28.01.1999 and also a.r's argument in this score .....

The Commissioner of Income-tax Vs. Raza Textiles Ltd.

Court : Allahabad

Reported in : (2005)199CTR(All)694; [2006]281ITR229(All)

..... of bonus payable under that act:]provided further that the amount of the bonus (not being bonus referred to in the first proviso) or commission is reasonable with reference to-- (a) the pay of the employee and the conditions of his service;(b) the profits of the business or profession of for the previous year in question; and(c) the general practice in similar business or profession; note: (the two proviso of clause (ii) have been omitted by the direct tax laws (amendment) act, 1987 w.e.f. ..... 01.04.1989).section 37(1): (1) any expenditure (not being expenditure of the nature described in section 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head 'profits and gains of business or profession'. ..... merely because, at first, an advance was to the workers and subsequently it was transferred to 'incentive bonus account' is no ground to hold that either the payment had not been made or the expenditure had not been incurred. ..... stated above that the first reason for disallowing the assessee's claim by the inspecting assistant commissioner was that the amount had been debited to 'workers loan account' and, therefore, it could not be treated as an expenditure deductible under the provisions of the act. .....

K. Ravindranathan Nair (Vijayalakshmi Cashew Co.) Vs. Commissioner of ...

Court : Kerala

Reported in : [1988]170ITR409(Ker)

..... 2,85,101 for the assessment year 1977-78 are not allowable expenditure (ii) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that only 50% of the proportionate expenditure considered as eligible could be treated as relating to exports and deductible under section 35b of the income-tax act instead of the full proportion of 85.15% for the assessment year 1976-77 and 75.91% for the assessment year 1977-78 ' 2. ..... the appellate tribunal has opined that the contribution is not business expenditure in the light of the construction of the trust deed and concluded that no trust had been created, even though the money has been transferred to the trustees. ..... regarding deducibility of amount under section 35b of the income-tax act, is covered by the decision of this court in i.t.rs. ..... in the result, we reject the plea of the petitioner to direct the income-tax appellate tribunal to refer the two questions of law formulated in the two o.ps. 5. ..... in so far as the said finding stands, any expenditure or contribution cannot be said to be an allowable expenditure.3. ..... 1 lakh to the trustees even before the trust has been created cannot be said to be a proper or allowable expenditure. ..... tharian and sons : [1987]166itr607(ker) ) and i.t.rs. ..... is the commissioner of income-tax. ..... he is an assessee to income-tax. .....