Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat mumbai Year: 2006 Page 6 of about 82 results (0.974 seconds)

income-tax Officer Vs. Kalyan Gupta

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... in the total income in the return of income. in the original assessment, the income-tax officer, however, granted to the petitioner relief under the then existing section 85 of the act under which dividend attributable to the income from a new industrial undertaking was exempt from taxes. the b.r. ltd. was incorporated in 1959 and was a ..... to the shareholder of the specified type of company. even where the loan has been fully repaid, the inclusive provision in section 2(6a)(e) of the indian income-tax act, 1922 [section 2(22)(e) of the act of 1961] would squarely apply. the only relief in such a situation is conferred by the legislature by the mechanism of ..... cent. (2) notwithstanding that no income-tax is payable by a domestic company on its total income computed in accordance with the provisions of this act, the tax on distributed profits under sub-section (1) shall be payable by such company. (3) the principal officer of the domestic company and the company shall be liable to pay the .....

ito Vs. Kalyan Gupta

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)293ITR249(Mum.)

..... in the total income in the return of income. in the original assessment, the income tax officer, however, granted to the petitioner relief under the then existing section 85 of the act under which dividend attributable to the income from a new industrial undertaking was exempt from taxes. the b. r. ltd. was incorporated in 1959 and was a ..... to the shareholder of the specified type of company. even where the loan has been fully repaid, the inclusive provision in section 2(6a)(e) of the indian income tax act, 1922 (section 2(22)(e) of the act of 1961) would squarely apply. the only relief in such a situation is conferred by the legislature by the mechanism of ..... cent. (2) notwithstanding that no income-tax is payable by a domestic company on its total income computed in accordance with the provisions of this act, the tax on distributed profits under sub-section (1) shall be payable by such company. (3) the principal officer of the domestic company and the company shall be liable to pay the .....

Nh Securities Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... is accepted that profits of a business is recognised, as accrued, at the end of that particular year. therefore, even in the context of explanation 2 to section 2(22) of the act, the "accumulated profits" cannot include profits and gains of business which is not accrued to the company on the date of payment of deemed dividend. in computing ..... the assessee company in its appeal have two segments. the first segment of the grounds raised by the assessee company is against invoking of the provisions of section 142(2a) of the act, by the assessing officer allegedly for extending the period of limitation. the second segment of the grounds raised by the company is on the merits of the ..... company has returned an income of rs. 24,25,11,(sic) for the year under assessment. the assessment was completed after carrying out a special audit under section 142(2a) of the act. the income has been finally assessed at rs. 45,70,04,550.3. one of the major additions made by the assessing officer in finalising the .....

Dy. Cwt Vs. Mustaq Abdullah Khatri

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... mumbai - 400 052 valued at rs. 69,50,000. during the assessment years 2000-01 and 2001 -02, the assessee had claimed depreciation under section 32 of the income tax act in the return of income and income-tax authorities had allowed the depreciation. it was conclusively affirmed by the income-tax department as immovable property and is ..... road, khatopur, jaipur valued at rs. 19,81,000. during the assessment years 1998-99 to 2001-02, the assessee had claimed depreciation under section 32 of the income tax act in the return of income and income-tax authorities had allowed the depreciation. it was conclusively affirmed by the income-tax department as immovable property and ..... ground, the issue is regarding the exemption of two separate flats occupied by the assessee. the assessing officer observed that as per provisions of section 5(1)(vi) of wealth tax act, since the assessee is an individual, exemption of only one flat on occupation by the assessee for residential purpose is to be allowed and .....

Star India (P) Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)103ITD73(Mum.)

..... referred to as the 'appellant') respectfully submits that the learned commissioner of income-tax (appeals) [cit(a)] has erred in upholding the assessment under section 143(3) of the it act, 1961 ('act'), on the following ground: 1. by not accepting the change in the accounting policy made by the appellant during the financial year ended 31st march, ..... mention that assessee, being a company, is required to maintain books of account on accrual basis of accounting only as per the provisions of the companies act, 1956. section 145(2) was inserted w.e.f. 1st april, 1997 which empowered the central government to issue accounting standards to be followed by any class ..... where earning of income itself cannot be said to have occurred and not otherwise and more so particularly in view of statutory change brought in section 145 of the act and notification of accounting standards thereunder which have resulted in the convergence of accounting thought on accrual, taxman's thought on 'accrual' and judicial .....

Crp Control Panel (P) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... of the view that casual or irregular workers could not be considered in determining the number of workers employed in the manufacturing process for the purpose of section 80-ib(2)(iv) of the act. it was also observed by him that the director to whom the remuneration was paid could not be considered as worker for that purpose. it was ..... of rs. 2,73,754 under section 80-ib of the act. the case of the assessee was selected for limited scrutiny under section 143(2)(ii) of the act and finally the assessment was completed on 16-12-2002 by determining the total income at rs. 64,220 after ..... 1. this appeal is directed against the order of the learned cit dated 19-6-2003, passed under section 263 of the income tax act, 1961 (hereinafter referred to as the act).2. briefly stated the facts are these : the assessee filed its income tax return for assessment year 2001-02 declaring total income of rs. 39,120 after claiming deduction .....

Dwarikesh Trading Co. Pvt. Ltd. Vs. the Asst. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD295(Mum.)

..... of accounting of interest income. since tribunal has given its finding covering both the aspects, therefore, the same is not to be rectified under section 254(2) of it act, being not a mistake emerging from the said order of the tribunal.5. parties have been heard and the miscellaneous applications were considered. there ..... circumstances of the case, the tribunal has committed an error in not correctly understanding the factual findings which tantamount to an error rectifiable under section 254(2) of the it. act. 3) whether facts and circumstances of the case revealed that the assessee has adopted a method of accounting of interest on cash basis applicable ..... (ii) no material is there to hold that the tribunal committed any error in understanding the factual finding which tantamount to an error rectifiable under section 254(2) of the act. (iii) the assessee not disputed in miscellaneous application nor any material is brought on record to hold that the assessee adopted cash system for .....

Swaran Singh Sokhey Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the return filed by the assessee on 31-10-1996. on the basis of computation and profit and loss account etc., the assessment was completed under section 143(l)(a) of the act. if thereafter some material is found or seen or any other information was with the assessing officer then only it can be said that there was ..... 97 he filed return declaring an income of rs. 19,81,747 on 31-10-1996. the return was processed under section 143(1)(a) of the act. thereafter, the assessing officer issued notice under section 148 of the act dated 23-6-1998 calling for a return. the assessing officer mentioned the reasons for reopening the assessment, in para 2 ..... , as the case may be, for the assessment year concerned...." (iii) excessive loss or depreciation allowance or any other allowance under this act has been computed.5.1 after reading the provisions of section 147, we find that there should be some reason to believe that some income has escaped. the assessing officer merely guessed that the brokerage .....

Uasc/Csl Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the appellant in india. accordingly i uphold the assessing officers action of denying the benefit of article 8 of the indomauritius dtaa and taxing the income under section 44b of the income tax act. this ground of appeal is decided against the appellant." aggrieved by the above order, assessee is in appeal before the tribunal.9. learned counsel for ..... tax avoidance convention of 1983 applied. in this case the honble high court accepted the contention that the circular is ultra vires the provisions of sections 90 and 119 of the income tax act, 1961 also otherwise bad and illegal. the order of the honble high court was set aside by the honble supreme court and held that the ..... indo-mauritius dtaa. the assessee has declared total receipt from shipping activities amounting to rs. 16,74,36,204 on which income @ 7.5% applying the provisions of section 44b/ 172 works out to rs. 1,25,57,702. this would be adopted as income of the assessee.aggrieved by the above order, assessee approached the first .....

Veena Investments (P) Ltd. Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... relation to the assessment year 1997-98 and subsequent years.' 13. taking into consideration the series of amendments made to the definition of 'assets' under section 2(ea) of the wealth tax act, the following position involves with effect from 1-4-1993 to 31-3-1997, wealth-tax was chargeable only on the guest house and residential ..... commercial purpose did not fallwithin the ambit of definition of 'asset'. for the period 1-4-1993 to 31-3-1997,the definition of 'asset' under section 2(ea) of wealth tax act was: (i) any guest house and any residential house (including a farm house situated within twenty-five kilometers from the local limits of any municipality ( ..... order of commissioner (appeals)-xxx, mumbai, dated 31 -3-2005 relating to assessment years 1997-98 and 1998-99 against the order under section 16(3) read with section 17 of the wealth tax act, 1957. the issue in both the appeals being same, the two appeals were heard together and are being disposed off by this consolidated order .....