Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat hyderabad Year: 2006 Page 1 of about 18 results (0.091 seconds)

Dy. Cit, 3(1) Vs. Sri K.S.N. Enterprises P. Ltd.,

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)105ITD375(Hyd.)

..... business was not given, no part of the compensation money was received by the assessee on condition not to carry on competitive business in explosives. consequently no part thereof was exempted from the income-tax act. in cit v. bombay burman trading corporation [1986] 161 itr 386 (sc), the issue before their lordship was what should be the ..... as per the ld. dept.representative is that the receipt in question is compensation in connection with termination of agency, for which reliance has been placed on section 28(ii). section 28(ii) as it stood for the impugned assessment year reads as follows: the following income shall be chargeable to income-tax under the head "profits and ..... of the first appellate authority at paragraph 8 on page 11 of his order that the receipt in question does not fall within the ken of section 28(ii) of the act. thus, the receipt in question was for restrictive covenant inasmuch as the assessee had carried on the business in soft drinks and had established a .....

Gulf Oil Corporation Ltd. Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2008)111ITD124(Hyd.)

..... dated 21.9.2005 for assessment year 2002-03.2. the first issue relates to the computation of book profits under section 115jb of the income-tax act, 1961(the act). the assessee company is engaged in the manufacture of detonators, industrial explosives and its accessories. it returned total loss of rs. 34,27,39,176 for the year under consideration. since the ..... of rs. 3,62,005 on account of delayed payment of provident fund; (c) disallowance of rs. 9,34,455 on account of sales-tax payment under section 43b of the act.8. after hearing the parties, so far as the first item is concerned, it is not disputed that the entire payment was made before the end of the ..... also does not help the revenue as it merely says that sometimes, appropriation account is included as a separate section of the profit & loss account. but, as we have seen earlier, parts-ii and iii of schedule-vi to the companies act do not speak of appropriation account at all. in the light of this discussion, we are convinced that .....

M.P. Malliwal Vs. Joint Cit, (Assts.)

Court : Income Tax Appellate Tribunal ITAT Hyderabad

..... the question of levy of cost is concerned, the cost can be imposed by the appellate tribunal in the light of provisions of sub-section 2(b) of section 254 of the income tax act. normally, discretion to award cost is vested with the tribunal to check filing of frivolous and unjustified appeals. the present appeals filed by ..... charges etc. considering the facts and circumstances of the case, we are of the firm view that the addition made by the assessing officer presumably, under section 69c of the act has no legs to stand and we hereby delete the addition.6. learned accountant member did not agree with the above view. he noted that the assessee ..... facts and circumstances of the case, i am of the view that revenue authorities did not bring sufficient material on record to apply the provisions of section 69c of the income tax act and accordingly addition for low household withdrawals in the two years were not sustainable. the learned judicial member rightly deleted them in the proposed order. .....

Dr. B. Padmaja and Dr. B. Lavanya Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)105ITD344(Hyd.)

..... making additions of rs. 48,565 disallowing 20% of various expenses aggregating to rs. 2,42,826; and of rs. 1,05,000 on account of unexplained investment under section 69 of the act.2.3 similarly, assessee, dr. b. ldvanya, a dental doctor by profession, filed her return of income for the assessment year 1999-2000 on 20.3.2001, declaring ..... 29.12.2004, which prompted the cit(a) to draw the above adverse inferences against the assessees. further, the notice is issued by the cit(a) under section 154 of the income tax act, which deals with the rectification of mistakes apparent from record. in the instant case, even though in the result, both the kinds of appeals before the cit(a ..... made on 29.3.2004, assessee's total income was determined at rs. 3,68,000 after making an addition of rs. 3,08,000 under section 69 of the act, on account of unexplained investment.2.4 on appeals preferred by the assessees against the above assessments, the cit(a) in the first instance, by his separate orders dated 22 .....

Vijay Raj Sethia Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

..... perceptible difference between hexane products and petroleum ether, the same was being sold to petroleum bunks for adulteration ie. mixing it with petrol. taking advantage of the explosive licence and certification from industries department as regards storage capacity which the assessee had, the assessee used to purchase the solvent oil from oil companies, lift the ..... was seized. the transactions recorded in the bank account did not form part of' regular books of account maintained by the assessee. in a statement under section 132(4), the assessee agreed that the said bank account was operated exclusively for the purposes of the above mentioned activity and that he used to obtain ..... of 55 tankers of petroleum ether had been undertaken by shri koteswara rao. he pointed out that the assessing officer in that case, where shri koteswara rao acted as a businessman, had accepted the gross profit rate of 8.2596. he also pointed out that the commission received at rs. 1,80,000 was disclosed .....

Parul Toys Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)105ITD81(Hyd.)

..... toys. it filed return of income for the assessment year 2001-02 on 19-11-2001, declaring its total income at rs. 22,170 under section 44af. the assessment was completed under section 143(3) of the act on a total income of rs. 61,696 after making an addition of rs. 39,526, by way of partial disallowance of the assessee's ..... cit(a) by the order impugned herein.5.2 the contention of the assessee is that when for determination of income for assessment recourse is made to the provisions of section 44af by the assessee, being a small trader having a turnover of less than rs. 40 lakhs, the books of account or the profit & loss account drawn up in accordance ..... contentions of the assessee, which the cit(a) has elaborately considered before rejecting, duly extracting the relevant provisions of the act, in para 4 of his order impugned herein, on pages 3 to 5 thereof.5.3 the proviso to section 44af makes it clear that 'where the assessee is a firm, the salary and interest paid to its partners shall be .....

A.P. Power Generation Vs. the Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)105ITD423(Hyd.)

..... , the question of they being brought to india in knocked down condition does not arise.the question of assembling or erection also does not arise. section 44bbb of the act applies only in so far as local service contract for installation of these cables is concerned. m/s. sumitomo corporation estimated the income from such ..... was liable to deduct tax as it had not approached the assessing officer. the commissioner (appeals) rejected the contention of the assessee that provisions of section 195 of the act did not apply on the ground that there was constructive payment in favour of sumitomo corporation. he then considered the provisions of double taxation avoidance agreement ..... neither a payment by the appellant nor a credit to sumitomo corporation in the books of accounts of the appellant as would attract the provisions of section 195 of the act. v) the acit ought to have appreciated that in substance, the payment made by the sumitomo corporation was as per the instructions of government of .....

K.K. House Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Hyderabad

..... very same building for the purpose of addition of undisclosed investment under section 69 of the act, when in fact the entire undisclosed investment has already been added in the assessment year 2000-01. what the assessing authority cannot do, the first ..... -2003, had arrived at a certain decision on the cost of construction and directed that the estimated difference in the cost of construction be added under section 69 of the act for the assessment year 2000-01. such direction clearly eliminates the jurisdiction of the assessing officer to once again estimate the cost of construction of the ..... hardship to an assessee are violated and if such instructions are issued in exercise of the powers vested in the central board of diruct taxes under section 119 of the act, it is certainly open to the court to compel the income-tax officer to follow the instructions of the central board of direct taxes. this .....

Vishal Infrastructure Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)104ITD537(Hyd.)

..... of arecanuts were supported only by the assessee's bought notes was no ground for the application of either the proviso to section 13 of the 1922 act or the proviso to section 145 of the 1961 act. if the finding of the appellate tribunal cannot be sustained on any material, or if the facts stated in support of ..... officer, in case where he is not satisfied about the correctness or completeness of the accounts of the assessee, for making an assessment as provided under section 144 of the act. on the plea of the assessee that for the earlier seven years, scrutiny assessments have been completed and the method of accounting followed by the assessee ..... assessee which is a limited company has been consistently following a particular method of accounting. its accounts are audited both under the companies act as well as under section 44ab of the income-tax act. such audited accounts are being filed with the registrar of companies as well as with the income-tax department for more than 7 years .....

Ansari Holding and Investment (P) Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

..... on an industrial truck which could be used with hooks, crabs and slings for bundled or coiled material. after considering the definition of goods carriage as per section 2(14) of the mv act, 1988, it was held by the court that mobile crane registered as heavy motor vehicle would clearly fall within the expression "motor lorries" and would be ..... -3-1999 was erroneous and prejudicial to the interest of revenue. we therefore, hold that assumption of jurisdiction by the learned cit under section 263 of the act was correct.7. next issue to be decided is as to whether the appellant is entitled to depreciation of 25 per cent or 40 per cent on ..... of revenue, the relevant record would be record as was available to the cit at the time when the record was perused by him for initiating proceedings under section 263 of the act. thus, in the facts of the present case, the learned cit clearly had jurisdiction and he correctly held that the order of the assessing officer dated 31 .....