Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat lucknow Page 4 of about 47 results (0.822 seconds)

Vikram M. Kothari Vs. the Dy. Cit [Alongwith C.O. No.

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)94ITD496Luck

..... in making the fresh assessment. but subject to those directions, he has the same powers in a fresh assessment as he had originally when making an assessment under section 23 of the indian it. act, 1922. the same view was reiterated in abhai ram gopi nath v. cit [1971] 79 itr 339 (all). the kerala high court in k. p. moideenkutty v. ..... or issue. what thus comes out is that the powers of the aac are wider than those of the appellate tribunal. the aac while hearing an appeal under section 251 of the act can examine all matters covered by the assessment order and correct the assessment in respect of all such matters even to the prejudice of the assessee. he may remand ..... ito for making a fresh assessment, the! powers of the ito while making the fresh assessment are the jame as if he were making an original assessment under section 143(3) of the act. the aac can, however, limit the powers of the ito by giving suitable directions in regard to the scope of enquiry by the ito." "while giving effect .....

Assistant Commissioner of Gift Vs. Sahara India (Firm) [Alongwith

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)94ITD70Luck

..... not be a valid transfer either by way of release, discharge, forfeiture, surrender or abandonment. thus, the question of making a deemed gift within the purview of section 4(1) of the gift-tax act, does not arise. it is a settled position of law that giving of loans and charging or non-charging of interest are contractual obligation and no addition ..... is in further appeal before the tribunal.13. the ld. d.r. strongly supported the order of the a.o. he submitted that clause (c) in sub-section 4(1) of the gift tax act has been inserted to plug the loop hole by bringing in its ambit the deeming provisions of deemed gift. he submitted that the assessee by not charging ..... return of gift.pursuant thereto, the assessee filed he return of gift showing nil value of the gift.10. the a.o. held that clause (c) of section 4(1) of the gift tax act is attracted in the case of the assessee as the assessee has surrendered/abandoned the interest income of rs. 1,70,00,000/- in favour of its .....

Deputy Commissioner of Income Tax Vs. Rajkumar Singh and Co.

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2006)99TTJLuck801

..... '. therefore, i hold that this is a case of transfer of assets by way of distribution of assets to the partners and the provisions of section 45(4) of the it act are applicable. sec. 45(4) lays down as under : the profits or gains arising from the transfer of a capital asset by way of distribution of capital ..... has adopted a colourable device simply to avoid incidence of lawful tax payment.36. the learned cit (departmental representative) also pointed out that provisions of section 45(2) of the act were not applicable because assessee should have given the amount of difference of conversion from investment into stock-in-trade to reserve account and thus accounts ..... to or disjunctive of 'on dissolution' and, consequently, the transfer of capital assets otherwise than by way of distribution on dissolution can also be covered by section 45(4) of the act, in our opinion, cannot be accepted. if that were the case, all transactions, whether by or between the firm, aop or boi, would be covered .....

MicrofIn Securities (P) Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)94TTJLuck767

..... " itself is an "authority', empowered to issue such instructions and directions to other it authorities as it may deem fit for proper administration of this act under section 119 of the it act. in the matter of assigning the jurisdiction of "ao", it possesses the exclusive authority either to pass the requisite order by itself or delegate this ..... was not of any avail to the revenue, similar inclusive definition has been assigned to the authorities designated as "director general or director". as per sub-section (21) of section 2 of the act, such authorities include an addl. director, jt., director. dy, director and asstt. director also.but it does not mean that such authorities in ..... not make the assessment order himself. (a) there is only one notification dt. 17th sept., 2001 as has been issued under clause (b) of sub-section (4) of section 120 of the act, which refers to the "authority" of jt, cit to exercise the powers and perform the functions of an ao, but such an 'authority' is subject .....

Deputy Commissioner of Vs. Rohtas Projects Ltd.

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2006)100ITD113Luck

..... the assessing officer has not pointed out any defect in the books of account nor the assessing officer brought any material to show that provisions of section 145(1) of the act were applicable and in such situation it was not expected from the assessing officer to resort to any estimate but to complete the assessment after computing ..... officer to de novo examine the investment in the cost of construction? 1. the hon'ble president of income-tax appellate tribunal exercising power under section 255(4) of the income-tax act, 1961 ('the act') has referred the following point of difference emanated from the orders passed by the id. judicial member, shri b.r. mittal and the ..... following point of difference and refer the same to the hon'ble president of the income-tax appellate tribunal in accordance with the provisions of sub-section (4) of section 255 of the income-tax act. the point of difference is as under: whether, on the facts and in the circumstances of the case, the id. judicial member is .....

Dy. Cit Vs. Rohtas Projects Limited

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2006)282ITR42Luck

..... state following point of difference and refer the same to the hon'ble president of the income-tax appellate tribunal in accordance with the provisions of sub-section (4) of section 255 of the income-tax act. the point of difference is as under: whether on the facts and in the circumstances of the case, the ld. judicial member is justified in ..... lessor penalty which had been imposed by the income-tax officer. it has now to be seen whether the question of law referred to the high court under section 256(1) of the act covered this aspect.17. therefore, an appellate court can correct the wrongs committed by the assessing officer by remitting the matter back to the file of the assessing ..... . as the a.o. has not pointed out any defect in the books of account nor the a.o. brought any material to show that provisions of section 145(1) of the act were applicable and in such situation it was not expected from the a.o. to resort to any estimate but to complete the assessment after computing the income .....

Assistant Commissioner of Income Vs. Sharad Thadani [Alongwith Ita No.

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2006)104TTJLuck567

..... shares in a co-operative housing society except the interest, which the legislature itself brought in within the tax net by making an express provision in sub-section (7) of section 4 of the act.9. from the above-noted case laws, it is clear that the term "property" has to be given the widest possible meaning and is itself a ..... will be included in the definition of "capital asset". it was held that a right to obtain conveyance of immovable property is clearly property as contemplated by section 2(14) of the act, the next case law referred to by the learned counsel is the decision of the hon'ble supreme court in the case of sunil siddhaithbhai v. cit ..... per the terms of agreement, the possession could be given only thereafter.7. we have considered the rival submissions and have perused the record of the case. section 2(14) of the act defines the term "capital asset" as under: capital asset' means property of any kind held by an assessee, whether or not connected with his business or profession .....

Balram Manmani Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... his order in respect of this issue prejudicial to the interests of revenue. he, therefore, cancelled the assessment made by the assessing officer under section 143(3) of the act and directed the assessing officer to make fresh assessment after conducting enquiries and after giving the assessee reasonable opportunity of being heard.26. we have ..... the case of shri balram manmani were filed before the assessing officer. the assessing officer accepted the gift as genuine and passed order under section 143(3) of the act on 29-9-2003.25. subsequently, the learned commissioner of income tax examined the assessment records and felt that as the assessing officer has ..... by the assessing officer was neither erroneous nor prejudicial to the interests of revenue. the learned commissioner of income tax has wrongly assumed jurisdiction under section 263 of the act and the same deserves to be cancelled.10. on the other hand, the learned departmental representative stated that the assessee's accounts have been .....

Saroj Nursing Home Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)98TTJLuck1051

..... make any enquiry as the scope of his enquiry was strictly governed by the provisions contained in clause (i) and clause (ii) as appearing below sub-section (2) of section 143 of the act. in support of this contention, it had made extensive submissions before the learned cit(a) as well as before us. whereas, in principle, the assessee ..... perhaps for this reason that he has referred to various case laws wherein question of admissibility of interest under section 10(2)(iii) of the old act, section 36(1)(iii) of the act, corresponding to section 10(2)(iii) of the old act was involved. it is held at the very outset that the credit balances in the account of the ..... profits of the firm amongst the partners and the amounts so allocated in the accounts of the partners are assessable as business income in their hands under section 28 of the act. in order to avoid double taxation, payment of interest on the capital accounts of the partners (which is assessable in their respective hands) is deducted .....

Shri Abhay Pratap Singh Sengar Vs. the Ito 4(3)

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... '.3. brief facts of the case are that assessee tiled his return of income declaring total income at nil. the assessee had claimed income to be exempt under section 5(1) of the act. the assessee was serving in merchant marinar in the rank of chief officer and driving salary in foreign currency from the employer m/s mol ship management asia ..... . it was held that she was resident but not ordinarily resident for assessment years 1996-97 to 2004-05. it was further held that the correct construction of section 6(6) of the act was that a person would become resident and ordinarily resident if - (a) he had been a resident in 9 out of 10 previous years preceding that year; and ..... but not ordinarily resident' if either of these conditions was not fulfilled.8. in the case of morgenstern werner v. cit 233 itr 751, it was observed that section 6 of the act lays down that a person is not ordinarily resident in india if in 9 out of 10 preceding years he had not been resident in india. this decision of .....