Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat ahmedabad Year: 2006 Page 1 of about 11 results (0.101 seconds)

Pankaj Savailal Patel Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)100ITD237(Ahd.)

..... agent under section 163. it was further argued that notices were served on the said ..... ] 111 itr 347 (mad.) wherein penalty imposed under section 271(1)(a) was struck down as same was imposed on agent without passing necessary orders in writing under section 163. it was contended that section 149(3) talks about agent under section 163 and not about section 160, income-tax act, having created distinct category of agents under sections 160 and 163, assessee cannot be treated as .....

Deputy Commissioner of Vs. Grey Cast Foundry Works

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)99ITD515(Ahd.)

..... respect of sale of copper scrap as the assessee itself has admitted the addition thereof. referring to the above decision he pleaded that according to section 58 of the evidence act an admitted fact need not at all to be proved. therefore, he pleaded that id. cit(a) has wrongly deleted the penalty.8. ..... the department as a result of enquiry thereafter a revised return is furnished making amendments that will not amount to a revised return as contemplated under section 139(5). section 139(5) is nothing more than to permit an assessee when a genuine omission or wrong statement is detected, to file a revised return in ..... . g.c. agarwal v. cit to contend that there being no satisfactory explanation for filing false original return and conditions necessary for application of explanation to section 271(1)(c) existing qua original return explanation rightly invoked notwithstanding filing of revised return. income definitely omitted from the original return constituted concealment and the contention .....

Assistant Cit, Special Range-1 Vs. Abir Chemicals Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)8SOT29(Ahd.)

..... of the interest amounting to rs. 54,16,190 shown by the assessee under the pre-operative expenses in the balance sheet but claimed as deduction under section 36(1)(iii) of the income tax act while computing the net taxable income. the assessing officer was of the view that this expenditure has to be treated as capital expenditure but when the ..... the case of cit v. kantilal chhotalal (2000) 246 itr 439. in this case it was held section 80hhc of the income tax act, 1961, has undergone various changes from time to time. clause (baa) of the explanation to section 80hhc inserted by the finance (no. 2) act, 1991, is clarifactory. the memorandum explaining the provisions has discussed this point in detail. in ( 1991 .....

Ashima Syntex Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)100ITD247(Ahd.)

..... given by companies, but they are often granted by clubs and occasionally by individuals." the definition of the term 'debenture' as appearing in the companies act in section 2(12) was also noted as including debenture stock, bonds and any other securities of a company, whether constituting a charge on the assets of the ..... clear that an element of refund or repayment is inherent in the concept of borrowing. the assessee was incorporated under the road transport corporations act, 1950. section 23 of the said act incorporated that the central government or state government to provide to the corporation any capital that may be required for the purpose of carrying ..... with the previous approval of the state government, redeem the shares issued to parties other than the state government and central government. as per section 28 of the corporations act, where the capital of a corporation is provided by the central government or state government, the corporation was to pay interest on such capital .....

Amp Spg. and Wvg. Mills (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)100ITD142(Ahd.)

..... of the explanation in paragraph 19 on which reliance is placed by both the sides reads as under :-- 19.1 treatment of losses in speculation business--section 73 section 73 of the act provides that any loss computed in respect of speculation business carried on by an assessee will not be set off except against the profits or gains, if ..... a base understanding the meaning of the terms used therein and the wider meaning thereof "at any time" in the madras case and language of sub-section (2) of section 52 of the act in case before supreme court were giving absurd and unconstitutional results and therefore, resort was had to the objects and reasons for introducing the provision. that ..... not make any difference in the matter because there can be a purchase and sale of future property or goods as provided under the sales of goods act. sections 4, 5 and 6 of this act dealing with contract of sales reads : 4. sale and agreement to sell--(1) a contract of sale of goods is a contract whereby the .....

Baroda Cricket Association Vs. Ito, Ward 5(1) Baroda

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)8SOT735(Ahd.)

..... areas falling within its jurisdiction, on distribution of mementos on the occasion of the diamond jubilee of the association.the assessing officer found, with reference to section 11(1)(a) of the income tax act, 1961 ("act" hereinafter referred to) that the said sum cannot be considered to have been applied to any charitable purpose, as it did not lead to the fulfilment ..... of general public utility, which, the promotion of the game of cricket, qualifies to be (so as to fall within the definition of charitable purpose in terms of section 2(15) of the act), as the distribution of mementos to its members by the association could not, in any manner, be considered as towards, or lead to, the promotion of the game .....

The Addl. Cit, Sr-8 Vs. Pinnacle Project and

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)104ITD122(Ahd.)

..... so by applying the ratio of mc dowell and co. (supra) the interest could not be disallowed.17. now as it relates to the applicability of section 77 of the companies act, 1956 to the transaction by the assessee on which the interest has been paid it is observed that the said contravention has not been proved or established by ..... as follows: a) borrowings were made by the assessee from the group companies and utilized for acquiring shares of the same group. c) the provisions of section 77 of the companies act, have also been violated.it was submitted that assessee is a dealer in shares and profits and loss arising from these transactions is shown by the assessee ..... advanced funds to the assessee. even the principle laid down in the case of mc dowell ltd. squarely applies in this case and the provisions of section 77 of the companies act regarding violation for providing funds for buying its own shares also come into force. but notwithstanding this even from it angle, it is a transaction which .....

Parkar Securities Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)102TTJ(Ahd.)235

..... brokerage income. in case of corporate assessee even if transactions had been settled with delivery, the loss is a speculative loss by the legal fiction of explanation to section 73 of it act. in the present case this is a clear-cut case of speculative loss of rs. 20,38,774. moreover, merely by stating that mistakes were there ..... of treatment of investment in the books the loss of rs. 62,000 due to fall in value of shares held is also a speculative loss under section 73 of it act. in this manner total loss in business of sale and purchase of shares of rs. 21,00,775 is treated as speculative loss and the same is ..... 'speculation business'. if speculation business is to be understood in the normal commercial parlance, the ingredients are totally different and a 'speculation transaction' artificially defined in section 43(5) of the act does not amount to 'speculation business' as is commercially understood. a full bench of the gujarat high court in pankaj oil mills v. cit , has succinctly .....

Kiritkumar Hiralal Doriwala Vs. Wealth Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)107TTJ(Ahd.)31

..... the central board of revenue, of the kind of circular mentioned therein, would be binding on all officers and persons employed in the execution of the it act, under section 5(8) of the act. in the light of this decision of the supreme court, mr. shah contended, that it was obligatory on the ito when he originally heard the ..... taxpayer in the matter of claiming and securing relief and the same has not been discharged, therefore, it was desirable to accept the application of the assessee under, section 35 of the act even according to the abovementioned decisions in the cases of chokshi metal refinery v. c1t (supra) and cit v. k.n. oil industries (supra). the ..... at the relevant point of time, is thus not apparent from the records. the contention of the appellant that his aforesaid claim for exemption was rectifiable under section 35 of the act inasmuch as the same was apparent from the records is, therefore, not found to be correct as the facts in regard to the said property being for .....

Shri Vijaysinh R. Rathod and ors. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... owner cannot be ascertained. admittedly, the cost in his hands is nil. that being so, there is no scope for taking resort to 'subsection (3) of section 55 of the act. that being so, the calculation of capital gain made in the instant case by the appellate assistant commissioner and the tribunal by taking resort to the said provision ..... gains under that head and no provision at variance with such computation provisions can be applied for determining the chargeable profits and gains. the asset referred to in section 45 of the act has to be one: (i) in the acquisition of which it is possible to envisage a cost; (ii) in the acquisition whereof the assessee had incurred ..... as a result of the transfer of the capital asset, there shall be deducted the expenditure incurred in capital asset and the cost of any improvement thereto. section 49 of the said act sets out of the cost of acquisition with reference to certain modes of acquisition. 7. capital gain tax is levied on the profit or gain that .....