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 7 of about 82 results (0.075 seconds)

Dwarikesh Trading Co. Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)106TTJ(Mum.)155

..... circumstances of the case, the tribunal has committed an error in not correctly understanding the factual findings which is tantamount to an error rectifiable under section 254(2) of the it act. (iii) whether facts and circumstances of the case revealed that the assessee has adopted a method of accounting of interest on cash basis ..... circumstances of the case, the tribunal has committed an error in not correctly understanding the factual findings which is tantamount to an error rectifiable under section 254(2) of the it act. (iii) whether facts and circumstances of the case revealed that the assessee has adopted a method of accounting of interest on cash basis ..... circumstances of the case, the tribunal has committed an error in not correctly understanding the factual findings which is 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 .....

Dy. Cit Vs. Abg Heavy Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)303ITR328(Mum.)

..... any infrastructure facility and thereby eligible for the purpose of deduction under section 80-ia of the act. 4. failing to appreciate the terms of the tender whereby jnpt was to operate the equipment while the assessee was to maintain them ..... ,by the assessee for the purpose of deduction under section 80-ia of the act. 3. holding that the business of leasing of assets of the assessee tantamount to carrying on the business of developing, maintaining and operating ..... the assessee has carried on the business of developing, maintaining and operating any infrastructure facility while calculating the book profits under section 115ja of the act. 2. ignoring the statement recorded under section 132(4) of shri saket agarwal, managing director, wherein he admitted that no operation of infrastructure facility was carried on .....

Deputy Commissioner of Vs. Abg Heavy Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... agarwal, managing director, wherein he admitted that no operation of infrastructure facility was carried on by the assessee for the purpose of deduction under section 80-ia of the act. 3. holding that the business of leasing of assets of the assessee tantamount to carrying on the business of developing, maintaining and operating any ..... infrastructure facility and thereby eligible for the purpose of deduction under section 80ia of the act. 4. failing to appreciate the terms of the tender whereby jnpt was to operate the equipment while the assessee was to maintain them and ..... officer that the aforesaid sum did not pertain to the year under consideration and hence the same should be excluded while computing the tax liability under section 115ja of the it act. the assessing officer, however, rejected the claim of the assessee mainly for the reason that there was no specific provision in clause (i) .....

City Transport Corpn. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... were lying in their branch office in ankleshwar. accordingly, the assessee was asked to produce books of account along with other details for which summons under section 131 of the act was also issued and served on the assessee. in response to the same, some of the books of account and ledgers were produced before the assessing officer ..... convenience.2. the only issue arising in these appeals, relates to tax deducted at source (tds) under section 194c read with section 201 (a) of the income tax act, 1961 (act) as well as charging of interest under section 201 (1 a) of the act.3. briefly stated the facts are these : the assessee is a firm engaged in transporting goods mainly ..... assessment year 1999-2000.consequently, tds liability was computed at rs. 3,348 for which demand was created under section 201(1) of the act. in addition, interest of rs. 2,276 was charged under section 201(l a) of the act. thus, the total liability was created at rs. 5,624. in the similar manner, the liability of rs .....

Jt. Director of Income Tax Vs. Booz Allen and Hamilton Inc.,

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)298ITR87(Mum.)

..... issue an appropriate notice directing the assessee to file a return but also in a case of this nature take recourse to the provisions of section 147 and 148 of the act. therefore, interest under section 234a would be payable only in a case where tax had not been deposited prior to the due date of filing of the return.10. ..... not leviable as the entire income was subjected to tax deductible at source. the liability for payment of advance tax arises under section 208 of the act and the advance tax payable has to be computed under section 209.section 209(1)(d) clearly stipulates that income tax shall be reduced by the amount of income tax, which would be deductible or ..... tax is deductible at source.5. the learned dr therefore, submitted that the learned cit(a) was not justified in deleting interest charged under section 234a of the act.with regard to the interest under section 234b, the learned dr relied on the decision of hon'ble calcutta high court in the case of cit v.borhat tea co. ltd. 193 .....

Dy. Cit Vs. Rajiv A. Shah

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... not been fulfilled in the year under consideration. since the taxable event did not take place in the year under consideration, the question of capital gain under section 45 of the act did not arise.13. much emphasis was laid by the assessing officer on clause 4 of the agreement, wherein date of completion of transaction has been left ..... payment, then mr. prakash shah, as a trustee, was bound to return the shares to the seller. mr. prakash shah was examined by the assessing officer under section 131 of the act who, in clear terms, deposed that shares were still lying with him and he was unaware of any payment being made by the transferee. in these circumstances, ..... high court incit v. f.x. pariera & sons (travancore) (p) ltd. . on receipt of the reply of the assessee, the assessing officer issued summons under section 131 of the act to vil and the solicitor mr. prakash shah. mr. prakash shah appeared before the assessing officer and confirmed that all the 7,500 shares were lying with him in .....

Daleep S. Chandnani Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... car is used by the assessee for its business purpose the assessee would get the depreciation at the rate of 40 per cent as per the iiird proviso to section 32 of the act.thus, ground nos. 1 to 3 of the assessee stand accepted.9. in the result, the appeal filed by the assessee stand partly allowed.10. now we shall ..... " means any motor vehicle constructed or adapted to carry not more than six passengers excluding the driver for hire or reward; 8. as per the ilird proviso to section 32 of the act, in respect of the asset being commercial vehicle acquired between 2-10-1998 and 31-3-1999, the depreciation has to be allowed on such percentage on the written ..... nos. 1 to 3 are in respect of rate of depreciation for the use of car whereas ground no. 4 is regarding the validity of reopening of assessment under section 147 of the act. since no arguments were made in respect of ground no. 1, it is presumed to be not pressed. hence same is dismissed as not pressed.5. the facts .....

i.i.T. Investrust Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)106TTJ(Mum.)1037

..... loss computed under any of the heads, cannot be considered as income chargeable to tax. he drew our attention to the provisions of section 4, section 32(2) and section 192 of the act where the expression "income chargeable to tax" has been employed by the legislature and according to these provisions, it is the positive income ..... business and consequently, the loss even arising on account of valuation of closing stock would be considered as speculative loss in terms of explanation to section 73 of the act.9. rival submissions have been considered carefully. the question for our consideration is, whether the case of assessee falls within the scope of the ..... our legal findings given in the preceding paras, the issue whether 'income' would include 'loss' loses its significance vis-a-vis the explanation to section 73 of the act.17. the only question which remains for our consideration relates to allocation of business expenses towards speculative loss,' the learned counsel for the assessee has .....

iac (Assessment) Range Iv C, Adit Vs. Saurashtra Trust

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)106ITD1(Mum.)

..... gains from business and profession', so far as incomes under the other heads of income is concerned, such incomes continue to be governed by exemption under section 11 act. learned counsel also points out that the assessee trust has substantial income under the heads other than 'profits and gains from business and profession'. it is ..... trust existing for an object of general utility', so far as business income is concerned, earning of substantial profits attracts the disqualification, under section 11(4a) of the act, from exemption under section 11. as for the exemption of income of the assessee trust under heads of income other than 'profits and gains from business or profession ..... other than income under the head 'profit and gains from business and profession' is concerned, the same is to held as eligible for exemption under section 11 of the act. shri k c p patnaik, learned departmental representative, relies upon the stand of the assessing officer and submits that there is no change in .....

inspecting Asstt. Cit and ors. Vs. Saurashtra Trust

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... a trust existing for an object of general utility, so far as business income is concerned, earning of substantial profits attracts the disqualification under section 11(4a) of the act, from exemption under section 11. as for the exemption of income of the assessee trust under heads of income other than profits and gains from business or profession ..... other than income under the head profits and gains from business and profession is concerned, the same is to be hold as eligible for exemption under section 11 of the act. shri k.c.p.patnaik, learned departmental representative, relies upon the stand of the assessing officer and submits that there is no change in the ..... from business and profession, so far as income under the other heads of income is concerned, such incomes continue to be governed by exemption under section 11 (of the) act. learned counsel also points out that the assessee trust has substantial income under the heads other than profits and gains from business and profession. it .....