Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat allahabad Year: 2006 Page 1 of about 7 results (0.107 seconds)

Umang Agarwal Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2008)110ITD391(All.)

..... a.y. 2002-03 should have been considered by the a.o. as undisclosed income for the block period. the cit took recourse to the provisions of section (sic) substituted by the finance act, 2002 with retrospective effect from 1.7.1995 according to which no reduction on account of income disclosed in the return from a.y. 2002-03, ..... (1)(ca) for the proposed action. the said section 158bb(1)(ca) reads as under: 158bb(1). the undisclosed income of the block period shall be the aggregate of the total income of the previous years falling within the block period computed, in accordance with the provisions of this act, on the basis of evidence found as a result ..... income. in cit v. rewa shankar a. kothari (supra) it was held that the tribunal is well within its jurisdiction to examine whether cit has rightly exercised jurisdiction under section 263. in cit v. mehrotra bros, (supra), it was held that where assessee has furnished all the information and a.o. considered them in the order of assessment, .....

Asstt. Commissioner of Income Tax Vs. District Cooperative Bank Ltd.

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2007)109ITD215(All.)

..... banking business is limited to keeping deposits and lending the same to the borrowers. it is only a common sense presumption but not the legal one.in section 5(b) of banking regulation act, banking is also defined as under: banking means accepting, for the purpose of lending or investment of deposits of money from the public repayable on ..... ,566/- shown in the para 4.0 of his order) earned on deposits with u.p. co-operative bank and other banks is covered under section 80p(2)(i) of i.t. act, 1961 relying on the decisions given by hon'ble supreme court in the cases of cit v. karnataka state cooperative apex bank 251 itr 194 and ..... received by the assessee, a cooperative society carrying on banking business, were business income of the assessee, and the assessee was entitled to deduction under section 80p(2)(a)(i) of the' income tax act, 1961, in respect thereof. cit v. karnataka state cooperative apex bank and mehsana district central cooperative bank ltd. v. ito followed. held also that .....

Asstt. Commissioner of Income Tax Vs. Ishar International

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2007)110TTJ(All.)882

..... they are only freight, insurance, attributable to the transport of the goods or mercantise beyond the custom station as defined in the customs act. as per proviso, after 1st april, 1991, items covered in section 28 as mentioned in the proviso, will also be excluded. thus, there are specific exclusion provided in explanation (ba). therefore, other ..... other is against directing the a.o. not to include in the total turnover the amount of sale proceeds not brought into india while computing deduction under section 80 hhc.2. regarding first ground the facts are that the assessee is a manufacturer and exporter of carpets, the a.o. noticed that manufacturing process involved ..... ) of any goods or merchandise to which this section applies and which are exported out of india, but does not include freight or insurance attributable to the transport of the goods or merchandise beyond the customs station as defined in the customs act, 1962 (52 of 1962). (ba) 'total turnover' shall not include freight or .....

Late Iqbal HussaIn Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... paras 19 and20 from the above decision are as under: 19. it is significant; to note that like the provisions contained in the wealth tax act, section 24b of the income tax act, 1922 imposed a liability on the legal representatives only in respect of the tax payable by the deceased and not in respect of penalty or any ..... deceased assessee. since the proceedings had not been completed before the death of the deceased, the tribunal had rightly held that the assessment should be completed under section 159(2) of the act. (ii) that though the tribunal, after setting aside the order of the commissioner (appeals) had not passed a further order directing the income tax ..... hon'ble supreme court in estate of late rangalal jajodia v. cit . the held, (i) on the facts, that the original assessments were completed under section 24b of the act through the legal heirs and representatives including a. a was not merely intimately connected with the assessments. she was in fact an assessee. the lack of notice .....

Late Iqbal Hussain, L/H-2 Ekram Vs. Income-tax Officer, Ward-1(1)

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2007)111TTJ(All.)717

..... 19 and 20 from the above decision are as under: 19. it is significant to note that like the provisions contained in the w.t. act, section 24ti of the i t. act, 1922 imposed a liability on the legal representatives only in respect of the tax payable by the deceased and not in respect of penalty or any ..... legal representatives of the deceased liable far the penalty which would have been payable by the deceased .assessee had he not died. in oar opinion, under section 159 of the it act penalty proceedings for a default committed by deceased can be started or continued against the legal representatives. 20. in 'view of this clear legislative provision it ..... assessee. since (he proceedings had not been completed before the death of the deceased, the tribunal had rightly held that the assessment should be completed under section 159(2) of the act. (ii) that though the tribunal, after setting aside the order of the commissioner of income-tax (appeals) had not passed a further order directing the .....

The Dy. Cit Vs. Sri Alok Banerjee and Sri Subir

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2008)111ITD339(All.)

..... and to substitute in its place the new assessment. the relevant part of head notes is as under: (i) that as a result of the retrospective amendment in section 5(1)(viii) of the act, the exemption on jewellery was not admissible and, therefore, the, net wealth chargeable to tax had escaped assessment f6r'that year. thus, the wealth-tax officer was ..... also taken an advance of rs. 7,50,000. a.m. wheller & co. pvt. where he is a director. the above amount is a deemed dividend under section 2(22) (e) of the it act, 1961. in view of the above i have reason to believe that income chargeable to tax amounting to rs. 13,36,835 (rs. 5\86,835 +rs. 7 ..... following gross objection in support of the order of the ld. cit(a): 1. because considering the facts and the circumstances of the case the proceedings under section 147 and 148 of the income-tax act, 1961 which have been initiated on the basis of erroneous assumption and facts, in absence of any genuine and definite information, without a valid and legal .....

Shakuntala Jaiswal Vs. Acit, Range-ii

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53a of the transfer of property act, 1882 (4 of 1882); or (vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society ..... the assessment proceedings, which clearly indicates that the appellant is accepting that capita gain is attracted. the definition of the capital gains is given in the section 45 of the income tax act wherein it is stated that "(1) any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as ..... ld.cit(a) raising 26 grounds. the assessee sought permission to revise the grounds. the gist of revised grounds is as under: (1) notice under section 148 of the income-tax act is wholly illegal and without jurisdiction. (2) investment in free-hold charges of stamp duty in investment in. free hold charges and stamp duty is not .....