Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat delhi Year: 2003 Page 1 of about 35 results (0.176 seconds)

Srj Securities Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... of cit v. ram samp [1962] 45 itr 248 (punjab) wherein the full bench has held : "on a true interpretation of section 10 and sub-section (1) of section 24 of the income-tax act and the first proviso thereto, an assessee is not entitled to claim a set off of the loss suffered by him in speculation business against ..... hesitation in holding that the authorities below were absolutely justified in disallowing the loss claimed by the assessee being speculative in nature and hit by explanation to section 73 of the it act.48. this brings us to the issue of chargeability of the interest on which we have been addressed. some judgments were also cited in support of ..... commission earned by no stretch of imagination in the form of brokerage can be said to be his speculative business income for the various reasons stated above. section 73 of the it act, more particularly sub-clause 1 is categorical and mandates that the speculation loss has to be set off against a speculation profit and not otherwise. when .....

Centre For Women'S Development Vs. Deputy Director Of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)78TTJ(Delhi)744

..... case, the it authorities levied tax on what could not be termed as income or was otherwise exempt under provisions of the it act, viz., section 10(22) or alternatively under section 11 of the said act. 4. that on the facts and circumstances of the case, the ao as well as cit(a) failed to consider the ..... programmes in hospitality management, educational training, conducting workshops and seminars, providing training course material and institutional resources was held as liable for exemption under section 10(22) of the it act.9. learned counsel for the assessee has further placed reliance upon the judgment of the apex court in the case of dr. ravi singh and ..... and dissemination of knowledge which may be termed as imparting education to the womenfolk. but for bringing the assessee within the ambit of provisions of section 10(22) of the it act, it has to be positively established that assessee did exist solely for the educational purpose and none else. during the course of hearing, learned .....

Kay Cee Electricals Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)87ITD35(Delhi)

..... evidence act.17. in view of the above discussion, the legal position that emerges is where any asset or other thing is found from the possession and control of ..... produce the relevant documents, an adverse inference had to be drawn against the assessee. as the assessee could not produce any document, an adverse inference in terms of section 114 of the evidence act, 1872, had to be drawn to the effect that, had those documents been produced, they would have gone against the interest of the assessee." the hon'ble ..... principle of evidence act would apply to it proceedings. in that case, it was held that if the assessee does not explain the source of asset found from him then the presumption can be drawn that he is the owner of such asset. this legal position was applied in view of the basic principle contained in section 110 of the .....

Shri M.S. Aggarwal Vs. D.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... for making the same. the element close relationship or occasion for making gift do not flow from the definition of gift as given in section 2(xii) of the gift tax act. the conditions laid down there are there should be transfer by one person to another of any existing movable or immovable property, the ..... undisclosed income from the assessees. the proposition is well established that admission made by an assessee during search operations constitute substantive evidence in view of sections 17 and 21 of the evidence act. however, such admission cannot be considered as conclusive evidence against the assessee. it has been held by the apex court in pullangode rubber ..... as indicated above concerns the scope and ambit of undisclosed income as contemplated under chapter xiv-b of the income-tax act. chapter xiv-b consisting of sections 158b to section 158bh was introduced by the finance act, 1995 with effect from 1.7.1995 to make procedure of assessment of search case more effective. the chapters is .....

Deputy Commissioner of Income Tax Vs. Finlay Corporation Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)86ITD626(Delhi)

..... in the light of the material placed on record. the assessee before us is a non-resident. the total income of the non-resident which is taxable under the act is defined in section 5(2) which includes income which : (a) is received or due to be received in india in the previous year by the assessee or on behalf of ..... in holding that no income accrued, arose or was received by the assessee with the meaning of section 5(2) of the it act, 1961. 2. the learned cit(a) erred deleting an addition of rs. 5.73 crores made under section 68 or alternatively under section 69 despite (1) finding of fact recorded by the cit(a) that assessee had failed to discharge ..... prepared in india. it is pertinent to note that such provisions of section 5(2) are subject to the other provisions of the act. that means in case of any conflict between the provisions of section 5(2) and any other provision of the act, then the other provision in the act would have overriding effect.12. so the question arises whether there is .....

income Tax Officer Vs. Sinar Mas Pulp and Paper (India)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)85TTJ(Delhi)794

..... technical services" within the meaning of para (4)(b) of example 7 to identical dtaa with usa. it was also stated that as per the provisions of section 10(6a) of the i.t. act, there was no question of grossing up the tax being paid by the indian concern. it was also stated that the non-resident company had been engaged ..... the assessee from the services rendered and it was purely a feasibility report. it was further stated that had the payment been made u/s 9(1)(6) of the act read along with the explanation, the said amount could have resulted in a situation where the assessee would have been liable to deduct tax. however, since in the facts of ..... provision of the relevant dtaa, it was fully applicable with regard to the taxability of the said amount in the hands of the consultant u/s 5(2) of the act was concerned, he was of the view that it is undisputable. he was also of the view that the applicability of the dtaa was the accepted stand. he further observed .....

Jyoti Prabha Society Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)87ITD126(Delhi)

..... 18th feb., 2002 does find mention in the impugned order of the learned cit and learned cit was justified to pass the order under section 12aa of the act and this section provides that cit while processing the application of the assessee-society is to satisfy himself about the genuineness of the activities of the trust or ..... be allowed.11. as against this, the learned department representative pointed out that learned cit was justified in rejecting the application and that too under section 12aa of the act. the contention of the learned department representative is that there may be application of the assessee moved in 1973 but fact remains that assessee had ..... spent mainly on the extension of existing buildings; its repairs and renovation and construction of immovable properties. the cit was of the view that section 12aa(1) of the act required that object of the applicant-society must be charitable and said society is to establish that its activities were genuinely of the charitable nature. .....

Additional Commissioner of Vs. Hughes Services (Far East) (P.)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)87ITD137(Delhi)

..... .3 of cbdt circular no. 779 dated 14-9-1999 reported as 240 itr page 3 (statute) wherein it has been clarified that the amendment by finance act, 1999 in section 9(1)(ii) would apply to assessment year 2000-01 and subsequent assessment years. the legislature has not said that salary for services rendered in india would include ..... co. ltd. v. cit [1954] 26 itr 27 wherein their lordships observed at page 51 as under: the word 'earned' even though it does not appear in section 4 of the act has been very often used in the course of the judgments by learned judges both in the high courts as well as the supreme court (vide cit v. ahmedbhai ..... within four concerns of the taxing provisions.6. before coming to the contention of ld. dr regarding retrospective operation of explanation substituted by finance act, 1999, let us first consider the scope of section 9(1)(ii) as originally enacted and amended from time to time in the light of judicial interpretation. such provisions as originally enacted read .....

Sutlej Industries Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)84TTJ(Delhi)80

..... cit(a) erred on the facts of the case and in law in not allowing interest under section 244a/other relevant provisions of the it act on the amount of self-assessment tax paid, which became refundable under section 143(3)/250 as per provisions of it act from the date of payment of such tax." 3. briefly stated the facts of the case are ..... a) erred on the facts of the case and in law in not allowing interest under section 244a, other relevant provisions of the it act on the amount of self-assessment tax paid, which became refundable under section 143(1)(a)/143(1b) as per provisions of it act from the date of payment of such tax." 14. the facts of this year are similar ..... from which the amount of tax or penalty specified in the notice of demand issued under section 156 is paid in excess of such demand.section 156, in turn, states that where any tax, etc. is payable in consequence of an order passed under this act, the ao shall serve upon the assessee a notice of demand in the prescribed form .....

Housing and Urban Development Vs. Dcit, Spl. Range-24

Court : Income Tax Appellate Tribunal ITAT Delhi

..... or interest and no other transaction. when we say this, we draw support from the definitions of the word and explanations used in section 370 of the companies act as well as section 295a of the companies act wherein loan and deposits have been defined. the judgment relied upon by the counsel for the assessee and placed on the record does ..... earned from loans and advances and the placement of surplus funds do not fall within the meaning of loan and advances and, therefore, the provisions of section 2(7) of the interest tax act are not applicable. while advancing his arguments further, it was submitted by the id. ar for the assessee that the surplus funds are invested after ..... of a credit institution should only include any interest earned on loans and advances made by it in terms of the provision contained in section 5 read with section 2(7) of the interest tax act and that there is no warrant in law to include any interest earned on deposits made based on any dictionary meaning. 3. the .....