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 8 of about 82 results (0.104 seconds)

Dresdner Bank Ag Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108ITD375(Mum.)

..... be resident in india. a foreign company, which is not wholly controlled or managed in india is, therefore, a non-resident so far as residential status under the act is concerned.section 5(2) further lays down that as far as a non-resident assessee is concerned scope of total income of such an assessee is confined to (i) an income ..... in the hon'ble high court's judgment itself: ... learned counsel for the assessee, contended at the hearing that...there was no scope for the application of section 9(1) of the act...(learned counsel) contended further that in the instant case the income, if any, in fact accrued or arose in india, and there was no scope of application ..... it was a result of hon'ble supreme court's judgment in the case of rajasthan state warehousing corporation ltd. (supra) has been nullified by the introduction of section 14a of the act. he was of the view that if there is an income, which is not includible in the total income, any expenditure in relation to that income will cease .....

P.N. Writer and Co. Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... per cent which is attributable to normal profits of its packaging and forwarding business. the balance will be treated as profits eligible for deduction under section 80-o of the act. we are required to do this exercise because we do not accept the plea of the assessee that the entire profits are eligible for ..... trademark enables him to charge that higher fee and the higher fee is attributable to the registered trademark.20. while taking us through section 80-o of the act he emphasized that the section nowhere requires that the registered trademark should have been necessarily registered in india. the learned commissioner (appeals) has unnecessarily emphasized on the point ..... in consonance to rule 8of itat rules, they are argumentative and descriptive in nature. the sale grievance of assessee relates to denial of deduction under section 80-o of the act.2. the learned first appellate authority has noticed the facts in a very lucid and exhaustive manner from para 5 of the order, thus .....

Asstt Cit Vs. Grasim Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... income was determined at rs. 105,11,65,009. this income has been determined on the basis of the order passed by the assessing authority w.r.t. section 250 of the act on 25-6-1998.4. later on, in the course of assessment proceedings relating to the succeeding assessment year 1993-94, the assessing officer came across certain ..... dated 11-1-2002. the relevant assessment year is 1992-93. they arise out of the assessment completed under section 143(3) r.w.s. 147 of the income tax act, 1961.2. the original assessment in this case was completed under section 143(3) on 31-3-1995. the assessee-company had invested money and units issued by unit trust ..... of india (uti) and owned by it with citibank n.a.under a scheme known as portfolio management scheme (pms). in the said scheme, citibank acted as the investment-facilitator of the assessee-company .....

Asstt. Cit Vs. Crystal Granite and Marble Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... may be prescribed by the finance act every year.sub-section (2) of section 4 mandates that income-tax shall be deducted at source or paid in advance where it is so deductible or payable under any provisions of the income ..... a specified percentage of book profit shall be deemed to be the total income of the assessee and that the other provisions of the income tax act shall apply to an assessee falling under the said section.10. as regards the decision of the honble karnataka high court in kwality biscuits ltd. (supra) against which the appeal filed before the honble ..... 234b and 234c are also satisfied.7. we shall now turn to the issue whether the total income of the assessee falling under section 115ja is chargeable to advance tax.section 4(l) of the income tax act creates charge of income-tax in respect of the total income of the previous year of every person at the rate or rates, which .....

Asstt. Cit, Range 10(1) Vs. Citicorp Finance (India Ltd.)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108ITD457(Mum.)

..... v. sg investments & industries ltd. (2004) 89 itd 44 (cal.), the calcutta bench of this tribunal has laid down two propositions: one, in view of section 14a inserted in the income tax act with retrospective effect from 1-4-1962, pro rata expenses on account of interest relatable to investment in shares for earning exempt income from dividend are to ..... of the claim of the assessee in respect of such expenditure in relation to income which does not form part of the total income under this act.- (3) the provisions of sub-section (2) shall also apply in relation to a case where an assessee claims that no expenditure has been incurred by him in relation to income ..... proceedings, the assessing officer noticed that the assessee had earned dividend of rs. 4,85,24,362 which was exempt from tax. taking note of section 14a of the income tax act, he called upon the assessee to furnish the details of expenditure incurred in earning the aforesaid dividend and also to explain as to why expenditure on .....

In Re: Satellite Television Asian

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... questions, whether income is liable to tax or not and whether tds is to be deducted from the payment made, without reference to sections under section 195(2) and 197 of the income-tax act stands concluded. there was no conflict between decisions of different benches of the tribunal or higher courts and the assessee has approached the president ..... the following substantial questions of law: (i) whether on the facts and in the circumstances of the case and in law, provisions of section 195 and section 40(a)(i) of the income-tax act, 1961 are attracted? (ii) whether, the finding of the tribunal that the applicant and the sipl are agents of the channel companies and ..... and in the circumstances of the case, disallowance of expenditure in the shape of payment to a non-resident by invoking the provisions of section 40(a)(i) read with section 195 of the income-tax act, 1961 is justified? 3. the special bench may modify, change the questions or add other questions as are deemed relevant and necessary .....

General Glass Co. (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108TTJ(Mum.)854

..... in terms covenanted thereunder. willingness to perform the roles ascribed to a party, in a contract is primarily a mental disposition. however, such willingness in the context of section 53a of the act has to be absolute and unconditional. if willingness is studded with a condition, it is in fact no more than an offer and cannot be termed as willingness. ..... facts and in the circumstances of the case and in law, the learned cit(a) erred in holding the reopening of assessment under section 147 of the it act, 1961, was proper and thereby erred in confirming the reopening of assessment. looking to the facts and in the circumstances of the case and in law, the appellant ..... appeal is filed by the assessee and is directed against the order dt.8th nov., 2004 passed by the cit(a) in the matter of assessment under section 143(3) r/w section 147 of the it act, 1961, for the asst. yr.1996-97. grounds of appeal, as set out in the memorandum of appeal, are as follows: 1. on the .....

Sunash Investment Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)106TTJ(Mum.)855

..... taxable income and others do not and business is one indivisible, the entire expenditure of this indivisible business would be deductible, the legislature has inserted section 14a by the finance act, 2001 with retrospective effect from 1st april, 1962, according to which, for the purpose of computing the total income under this chapter, no ..... assessee. whatever case laws were relied on by the assessee, it were rendered without taking into account the scope and object of section 14a of the it act. the legislative intent of introducing section 14a has been made emphatically clear through various board circulars.14. in the instant case, the assessee was admittedly engaged in the ..... funds, which were invested in finance as well as purchase of shares, against the interest income of the assessee, after invoking the provisions of section 14a of the it act. during the course of hearing, the learned counsel for the assessee has invited our attention to the various judgments, which were referred to by .....

Life Insurance Corpn. of India Vs. Joint Cit, Special Range-36

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108ITD471(Mum.)

..... the answer to such question is no more res integra. the hon'ble supreme court had to consider this question with reference to section 2(6a) of 1922 act corresponding to section 2(22) of the act of 1961. their lordships held as under 'dividend', in its ordinary connotation, means the sum paid to or received by a shareholder ..... by reiterating the reasonings given by the assessing officer as well as learned commissioner (appeals). according to him, the definition of the expression 'dividend' in section 2(22) of the act and does not cover all types of payment failing within the meaning of the word 'dividend'.therefore, general meaning of the same has to be taken for ..... as dividend.6. before parting with his order, the learned commissioner (appeals) referred to some other arguments of the assessee as under: (i) under section 37 of the lic act, the sums assured by all policies issued by the corporation are guaranteed by the central government. the payment in question is not in consideration of the .....

Usv Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)106TTJ(Mum.)535

..... expediency to facilitate carrying on the business to protect business assets, reputation, fair name and goodwill and that the expenditure incurred satisfied all the ingredients of section 37 of the act. he held it was incurred solely to give share in the assets to three family members and the assessee is unfairly trying to claim this expenditure ..... on record. thus he rejected assessee's claim vide para 15 of his order, observing as under: 15. to sum up, for the purpose of section 37(1) of the it act, the cumulative effect of the evidence as discussed above when distilled through the judicial rulings also referred above, is that there was no business or commercial ..... the order of the cit(a), confirming exclusion of interest of rs. 67,482 while computing profits of the eligible undertakings for the purpose of deduction under section 80hh of the act.16. learned counsel for the assessee submitted, he is under instruction not to press this ground. hence, this ground is dismissed as not pressed.17. .....