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 : 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 : 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 : 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 : Jan-16-2003
Reported in : (2003)85ITD133(Kol.)
..... consider the relevant facts and determine for himself whether the commission said to have been paid to the selling agents or any part thereof is properly deductible under section 37 of the act." (p. 440) in the light of the above well settled judicial principles of law, let me proceed to consider as to whether in this case the ..... between the members originally constituting this bench, then point of difference of opinion was referred to honble vice president (kolkata zone) as third member under section 255(4) of the income tax act.in accordance with the majority view after duly taking into account the opinion expressed by the learned third member, we hold that the payment of ..... a difference of opinion amongst the members constituting the bench in regard to the following issues, i was nominated as third member by the honble president under section 255(4) of the income tax act, 1961 : "whether, on the facts and in the circumstances of the case, the payment of service charges of rs. 10,48,895 to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jan-21-2003
Reported in : (2004)88ITD404(Kol.)
..... (sic) or should have not been resident in india in all nine out of the ten previous years preceding that year is wrong interpretation of sub-section (6) of section 6 of the act. in support of his contention the ld. counsel has placed reliance on the commentaries of some learned authors and on an article written by sri s. ..... that) out of ten previous years preceding that year.10. to decide the issue in hand, the scope of total income as defined under section 5 of the act is to be kept in mind. section 5 of the act defines the scope of total income with reference to the different residential status of the assessee, viz. (1) residents and ordinarily residents, ( ..... law. the ld. counsel for the assessee is not able to point out any substantive material or the fact so as to render the initiation of proceedings under section 147 of the act as invalid and without jurisdiction. in fact, no substantive argument has been putforward by the ld. counsel for the assessee on this issue. even in the written .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jan-31-2003
Reported in : (2004)83TTJ(Kol.)409
..... .9. in view of the above discussion, we are of the considered view that the cit(a) indeed erred in sustaining the impugned order under section 154 of the act. we, accordingly deem it fit and proper to cancel the impugned order.10. we may make it clear that as we have decided the matter ..... commission payments. we are thus urged to uphold the orders of the authorities below and decline to interfere in the matter.4. we find that section 194h, which was reintroduced by the finance act, 2001, w.e.f. 1st june, 2001, imposes certain tax deduction obligations on persons, other than individuals and huf, paying commission or ..... brokerage to a resident. the expression 'commission or brokerage', for the purpose of section 194h, has been defined as follows : "'commission or brokerage" includes any payment received or receivable, directly or indirectly, by a person acting on behalf of another person for services rendered (not being professional services) or for any services in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Feb-27-2003
Reported in : (2004)89ITD125(Kol.)
..... for a particular year becomes, by legal fiction, part of the depreciation allowance for the succeeding year. in the light of the provisions contained in section 323(2) of the act it is well-settled that for claiming set off of unabsorbed depreciation in a succeeding year, the continuance of the business in relation to which such ..... hearing on 23-3-98. having received the show cause notice under section 263 of the act the assessee submitted a reply in writing vide its letter dated 23-3-98 saying that the adjustment of unabsorbed depreciation has been rightly done by the ..... of the present partnership (sic) by the a.o. was erroneous and prejudicial to the interest revenue. he, therefore, issued a show cause notice under section 263 of the act to the assessee as to why the assessment made by the a.o. should not be rectified by disallowing set off of brought forward unabsorbed depreciation fixing the .....
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