Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jun-30-2003
Reported in : (2003)86ITD219(Kol.)
..... record, i find that there is no dispute in regard to the recovery of transportation charges by the assessee from the chemical companies for transportation of explosives. section 32 of the it act, 1961, provides for allowance of deduction on account of depreciation in respect of assets owned and used by the assessee for purposes of business or ..... amongst the members of bench in regard to the rate of depreciation applicable on vans used for transportation of explosives, the president of the tribunal has, accordingly, nominated me as third member under section 255(4) of the it act in regard to the point of difference formulated by the division bench as under : "whether, on the ..... in appeal before the cit(a) who concluded as follows: "3.2 i have examined the above submissions. it is a fact that while acting as consignment agent for transportation of explosives, the appellant was hiring out his vehicle to others. therefore, it is not correct to infer that in such activities, the appellant was .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : May-30-2003
Reported in : (2004)89ITD415(Kol.)
..... india, obtaining sanction of rajasthan government for grant of mining lease for limestone, carried out detailed prospecting work under the guidance of one expert organization, applying for explosive licence and obtaining approval for electricity connection from rajasthan state electricity board, establishing a project office at chittorgarh, rajasthan, etc. the assessee explained that the amount ..... this letter being nil, there cannot be any question of computation of capital gain, under section 45 read with section 48 to 55 of i.t. act, 1961.5. the a.o. observed that in addition to the various measuring being taken by the assessee, the assessee has ..... is not a capital asset. as no capital asset was transferred, this sum could not be treated as capital gain within the meaning of section 45 read with section 48 to section 55. it was further pleaded that the value of this letter of intent cannot be determined and, therefore, the cost of acquisition of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Dec-18-2003
Reported in : (2004)270ITR73(Kol.)
..... of the rent payable to him. on the failure to recover any sum due on account of consolidated rate from the person primarily liable there of under section 193, section 195 of the cmc act speaks of recovery from every occupier, by way of attachment of the rent payable by such occupier, a portion of the total sum due which bears, ..... an agent to collect the surcharge from the occupier. in this connection the following observation of hon'ble madras. high court in the case of c.i.t. v.southern explosives co. (2000) 242 itr 107 is useful to be referred -- "in the instant case, the amounts collected by the assessee were amounts which were meant to be utilized ..... for energy supplied by the licensee, the licensee can, at the option of the state government, be proceeded against for the recovery of the electricity duty under section 8(a) of the act. in view of the clear liability of a licensee who has recovered the charges for the electricity supplied, it cannot be said that a licensee being an agent .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Dec-18-2003
Reported in : (2004)88ITD247Cal
..... basis of the rent payable to him. on the failure to recover any sum due on account of consolidated rate from the person primarily liable thereof under section 193, section 195 of the cmc act speaks of recovery from every occupier, by way of attachment of the rent payable by such occupier, a portion of the total sum due which bears ..... or as an agent to collect the surcharge from the occupier. in this connection the following observation of hon'ble madras high court in the case of cit v. southern explosives co. [2000] 242 itr 107 is useful to be referred- , in the instant case, the amounts collected by the assessee were amounts which were meant to be ..... occupation of the tenanted premises for commercial purposes is to be treated as actual rent received for the purpose of determining annual value within the meaning of section 23 of the it. act (as it then stood), and the taxes including surcharge levied by municipal corporation and actually paid by the assessee during the relevant year is to be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Aug-06-2003
Reported in : (2003)87ITD653Cal
..... major portion of the tax deducted at source was refunded to the assessee-company. subsequently, the cit in exercise of his power under section 33b of the 1922 act (corresponding to section 263 of 1961 act) revised the order of the ito and took the view that at least 75 per cent of the technical fee earned by the assessee ..... was pointed out that in that case the assessee had accepted levy of tax @ 5 per cent. however, when the cit initiated action under section 33b of the it act, 1922, corresponding to section 263 of the it act, 1961, the assessee challenged such action on the ground that the sum receivable by it was not per se taxable in india. the supreme ..... before us, including the issue as to whether a non-statutory 'no objection certificate' issued by the ao can at all be subject-matter of revision under section 263 of the act. in the light of our findings above, this and remaining grounds of appeal become infructuous. we, accordingly, refrain from making any observations on merits of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jan-14-2003
Reported in : (2004)88ITD363Cal
..... held that there was no transfer of the building in favour of the assessee-company and the arrangement being a licence the assessee is entitled for relief under section 15c of 1922 act. it was submitted that the decision of bombay high court in the case of bayer agrochem ltd. (supra) is fully applicable and there being no ..... corollary is that no lease exceeding one year is created at all.such an instrument, if not registered, cannot be admitted as evidence in view of section 17 of the registration act, either for providing the terms of the lease or otherwise.11. our attention was also drawn to pages 1040-1041 of mulla's the transfer of ..... which the transferee has taken or continued in possession, other than a right expressly provided by the terms of the contract. it was submitted that provisions of section 53a of the transfer of property act are not applicable. it was furthermore submitted that delhi high court in the case of cit v. reliance international corporation (p.) ltd. [1995] 211 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jan-14-2003
Reported in : (2004)84TTJ(Kol.)504
..... held that there was no transfer of the building in favour of the assessee-company and the arrangement being a licence the assessee is entitled for relief under section 15c of 1922 act. it was submitted that the decision of bombay high court in the case of bayer agrochem ltd. (supra) is fully applicable and there being no ..... the corollary is that no lease exceeding one year is created at all.such an instrument, if not registered, cannot be admitted as evidence in view of section 17 of the registration act, either for providing the terms of the lease or otherwise.11. our attention was also drawn to pp. 1040-1041 of mulla's the transfer of ..... which the transferee has taken or continued in possession, other than a right expressly provided by the terms of the contract. it was submitted that provisions of section 53a of the transfer of property act are not applicable. it was furthermore submitted that delhi high court in the case of cit v. reliance international corporation (p) ltd. (1995) 211 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : May-28-2003
Reported in : (2004)88ITD1(Kol.)
..... evident that taxation of association of persons as a separate entity and assessment of its members individually is permissible in law.21. this takes me to section 86 of the act. this section quoted above provides the treatment of share of a member in the income of association of persons or body of individuals. as a general rule, ..... persons.the association of persons being a separate assessable entity is obliged to file the return of income and also pay taxes as per the provisions of the act. section 139(1) makes it obligatory for the association of persons to file the return of income within the prescribed time if its income exceeds the maximum amount ..... so, why the association of persons be not entitled to carry forward of loss suffered in business? the controversy arises merely because of the provisions of section 67a and section 86 of the act. it would, therefore, be necessary to examine the scope and purpose of these provisions of law. these provisions are quoted hereunder for the sake .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jun-06-2003
Reported in : (2004)267ITR1(Kol.)
..... . it is thus evident that taxation of aop as a separate entity and assessment of its members individually is permissible in law.21. this takes me to section 86 of the act. this section quoted above provides the treatment of share of a member in the income of aop or boi . as a general rule, it provides that no income-tax ..... members of the aop. the aop being a separate assessable entity is obliged to file the return of income and also pay taxes as per the provisions of the act. section 139(1) makes it obligatory for the aop to file the return of income within the prescribed time if its income exceeds the maximum amount which is not chargeable ..... with. that being so, why the aop be not entitled to carry forward of loss suffered in business the controversy arises merely because of the provisions of section 67a and section 86 of the act. it would, therefore, be necessary to examine the scope and purpose of these provisions of law. these provisions are quoted hereunder for the sake of ready .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jul-16-2003
Reported in : (2003)87ITD510(Kol.)
..... during the previous year under appeal and is, therefore, allowable as trading/business loss in computing its total income for the asst. yr. 1996-97 under section 28 r/w section 29 of the act." 5. being aggrieved, the revenue came in appeal before the tribunal. the learned jm proposed an order by virtue of which he reversed the order ..... of the bench, we state following point of difference and refer the same to the hon'ble president of the tribunal in accordance with the provisions of sub-section (4) of section 255 of the it act, 1961. the point of difference is as under : "whether, on the facts and in the circumstances of the case, the assessee's claim of ..... the previous year under appeal and is, therefore, allowable as trading/business loss in computing its total income for the asst. yr. 1996-97 under section 28 r/w section 29 of the act." 2.7 during the course of hearing of the appeal, the learned departmental representative justified the order of the ao and submitted that the lose claimed .....
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