Array ( [0] => ..... of the assessee-company did not want to be involved in the business of exports on account of stringent provisions of the foreign exchange regulation act. the claim under section 80hhc, in our opinion, is the consequence of the decision of the male directors to carry on separate business in partnership and not the motive ..... are distinguishable. in those cases, the question was whether different business carried on by the assessee were the same business for the purpose of section 24(2) of indian income-tax act, 1992. those cases proceeded on the basis that different businesses were admittedly carried on by the assessee and there was no dispute on these ..... fact, the ladies who were shareholders and directors did not went to take the risk of the stringent provisions of the foreign exchange regulation act. the income-tax provisions under section 80hhc are the consequence of such decision and not the motive.39. regarding the infrastructure facilities, it was submitted by him that the assessee ..... [1] => ..... the goods from seller to the purchaser. by this process, the ownership in the goods is changed from one person to another. under the transfer of property act, 1882, section 54 deals with the transfer of immovable property by ways of sale. it provides that where the value of immovable property is more than rs. 100 it ..... of the assistant appellate commissioner allowing depreciation on the truck which was registered in the name of another person 2. whether the depreciation was admissible under section 32 of the act to the beneficial owner of the truck and the decision of the tribunal was in accordance with the provisions of law ?" the answer to the aforesaid ..... these premises it was held by the hon'ble bombay high court that the assessee was the owner of the vehicle and was entitled to depreciation under section 32 of the act. following the same, we hold that the assessee is entitled to depreciation in respect of vehicles purchased by the assessee- firm though registration continued in the ..... [2] => ..... are of the considered view that the expenditure incurred by the assessee in the present case falls within the definition of current repairs and is allowable under section 31 of the 1961 act.11. even assuming that expenditure on replacement of engine does not amount to current repairs, we are unable to agree with the contention of mr. manish ..... by all the courts that expenditure on replacement of petrol engine by diesel engine amounts to current repairs and therefore, is allowable under section 10(2) (v) of the 1922 act and section 31 of the 1961 act. the only decision which was rendered in favour of the revenue was of the andhra pradesh high court in the case of r ..... mills ltd. [1967] 66 itr 710 was relied on where the expenditure on replacement of asset has been allowed as deduction under section 10(2) (v) of the 1922 act corresponding to section 31 of the 1961 act.5. in reply, it was submitted by the learned departmental representative that the decision of the bombay high court in the case ..... [3] => ..... lord diplock in reg vs. nat. ins. commr. (1972) ac 944. lord diplock observed : "meticulous linguistic analysis of words and phrases used in different contexts in particular sections of the act should be subordinate to this purposive approach. it should not distant your lordships from it." the words "sales", "turnover", "gross receipts" are commercial terms and they should be ..... 8. as regards the reliance placed by the learned departmental representative on the dictionary meaning of "turnover" (quoted supra), we are of the opinion that words in a section are not to be interpreted by having those words in one hand and the dictionary in the other hand.in spelling out the meaning of the words in a ..... section, one must take into consideration the setting in which those terms are used and the purpose they are intended to serve. the two rules of most general ..... [4] => ..... from commission on bills collection from mseb is neither co-related nor having any direct or proximate nexus with the definition of "banking" as given in section 5(b) of the banking regulation act which reads . . . "banking'means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand ..... representative further submitted that while considering a similar issue the supreme court in the case of madhya pradesh co-op.bank ltd (supra), while interpreting section 81 of the income tax act, has held that only the income from the activity which can be regarded as essential part of the banking activity would be exempt and it ..... an all together different source and is not at all a normal part of the business of banking.according to the learned departmental representative, section 6(1) of the banking regulation act, 1949 itself makes it very clear that the banking companies in addition to business of banking are permitted to engage in any one or ..... [5] => ..... r/w s.80p(2)(a)(i), what the assessee is required to prove is that the income in question is "attributable" to the business of banking. sec. 5(b) of the banking regulation act, 1949, defines what the term "banking" means. it does not say that activities defined as "banking" were the only activities attributable to the business of ..... banking. sec. 6(1) of the banking regulation act, 1949, enumerates various activities which a banking company could carry on. in this regard, it has to be noted that the activity of bill collections falls ..... court is compelled to depart from the earlier view, it should be seen that no injustice is caused to the assessee.12. sec. 6 of the banking regulation act, 1949, has to be read as a whole. sec. 6(1) enumerates all such activities which a bank is required to undertake to exist and work as a bank and, therefore ..... [6] => ..... in respect of income which arise applying the principles of mutality. no such exemption is available to an aop. (d) co-operative societies are distinctly referred to in various sections of the act, e.g., ss. 2(18)(ad), 2(24)(vii), 27(iii), 36(1)(i)(a), 40(na), 45(3), 80-i(a)(5), 80-i(6)(i), ..... of "person" may also be an assessee by itself. there can be a person falling within the category of "boi" or 'artificial juridical person".referring to the different sections of the act, the learned counsel proceeded to point out the distinction between aop and a co-operative society and submitted that since the co-operative societies have been kept out of ..... a co-operative society is a voluntary aop not motivated by business consideration. the it act itself distinguishes between aop and a co-operative society in the following manner : (a) sec. 2(19) of the act defines a co-operative society. there is no definition of aop in the act. (b) the rates of income-tax prescribed for a co-operative society are ..... [7] => ..... to be given a very wide meaning and in that sense an income from salary disclosed by the employer in the return under section 206 can be regarded as disclosure for the purpose of the act and such income particularly when tax is deducted at source cannot constitute undisclosed income for the purpose of chapter xiv-b.for the purpose ..... of india and joined m/s s.n. construction, ratnagiri, as a partner. his family consists of himself, his wife and two daughters.a search and seizure action under section 132 of the income tax act, 1961, was carried out at the residence of the assessee. as a result of search assessment was completed by the assessing officer under ..... if the assessee has not filed a return, it means that there is no disclosure for the purpose of the act as envisaged under section 158b(b). such a restrictive view is not at all warranted by the provisions of law. section 158b(b) defines 'undisclosed income' to include income or property which has not been or would not have been ..... [8] => ..... 1995 had confirmed the view taken by the assessing officer adopting the status of the assessee as private discretionary trust. the assessing officer accordingly denied the exemption under section 5(1)(i) of the act.3. on appeal, the cwt(a) reversed the finding of the assessing officer observing as under : "the contention of the learned acit is not tenable ..... establishment, property maintenance etc. he therefore, argued that during the years, as the entire amount was spent on charity the trust should be entitled to exemption under section 5(1)(i) of the act. the learned counsel relied upon the judgment of the bombay high court in the case of trustees of k.b.h.m bhiwandiwalla trust v. cwt [1977 ..... years 1991-92 and 1992-93 in which it was held that the trust was not a charitable trust and hence does not qualify for exemption under section 11 of the income-tax act, is of no assistance to the revenue. the hon'ble jurisdictional high court in the case of state bank of india (supra) has held that ..... [9] => ..... scheme of chapter xiv-b. section 158ba is the charging section which is also non of obstante clause vis-a-vis the entire provisions of the act. therefore, in case of any conflict, this section will prevail over the other sections including sections enacted in chapter xiv-b. sub-section (1) of section 158ba empowers the assessing officer to ..... proceed to assess the undisclosed income in accordance with the provisions of chapter xivb. undisclosed income has been defined in section 158b. so ..... question is whether the income of rs. 31,670 declared by the assessee for assessment year 1994-95 should be considered as undisclosed income under section 158b.perusal of the statement of income filed alongwith the returns for assessment years 1992-93 and 1993-94 shows that sources of income of the ..... ) Explosives Act 1884 Section 4 Definitions - Sortby Old - Court Income Tax Appellate Tribunal Itat Pune - Page 9 - Judgments | SooperKanoon Skip to content


Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: old Court: income tax appellate tribunal itat pune Page 9 of about 209 results (0.119 seconds)

Jul 14 1997 (TRI)

Parakh Foods Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1998)64ITD396(Pune.)

..... of the assessee-company did not want to be involved in the business of exports on account of stringent provisions of the foreign exchange regulation act. the claim under section 80hhc, in our opinion, is the consequence of the decision of the male directors to carry on separate business in partnership and not the motive ..... are distinguishable. in those cases, the question was whether different business carried on by the assessee were the same business for the purpose of section 24(2) of indian income-tax act, 1992. those cases proceeded on the basis that different businesses were admittedly carried on by the assessee and there was no dispute on these ..... fact, the ladies who were shareholders and directors did not went to take the risk of the stringent provisions of the foreign exchange regulation act. the income-tax provisions under section 80hhc are the consequence of such decision and not the motive.39. regarding the infrastructure facilities, it was submitted by him that the assessee .....

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Dec 09 1997 (TRI)

Deputy Commissioner of Income Tax Vs. Mahadeo R. Mahadik

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1998)61TTJ(Pune.)759

..... the goods from seller to the purchaser. by this process, the ownership in the goods is changed from one person to another. under the transfer of property act, 1882, section 54 deals with the transfer of immovable property by ways of sale. it provides that where the value of immovable property is more than rs. 100 it ..... of the assistant appellate commissioner allowing depreciation on the truck which was registered in the name of another person 2. whether the depreciation was admissible under section 32 of the act to the beneficial owner of the truck and the decision of the tribunal was in accordance with the provisions of law ?" the answer to the aforesaid ..... these premises it was held by the hon'ble bombay high court that the assessee was the owner of the vehicle and was entitled to depreciation under section 32 of the act. following the same, we hold that the assessee is entitled to depreciation in respect of vehicles purchased by the assessee- firm though registration continued in the .....

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Feb 13 1998 (TRI)

Assistant Commissioner of Vs. Shree Datta Dairy

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1998)67ITD357(Pune.)

..... are of the considered view that the expenditure incurred by the assessee in the present case falls within the definition of current repairs and is allowable under section 31 of the 1961 act.11. even assuming that expenditure on replacement of engine does not amount to current repairs, we are unable to agree with the contention of mr. manish ..... by all the courts that expenditure on replacement of petrol engine by diesel engine amounts to current repairs and therefore, is allowable under section 10(2) (v) of the 1922 act and section 31 of the 1961 act. the only decision which was rendered in favour of the revenue was of the andhra pradesh high court in the case of r ..... mills ltd. [1967] 66 itr 710 was relied on where the expenditure on replacement of asset has been allowed as deduction under section 10(2) (v) of the 1922 act corresponding to section 31 of the 1961 act.5. in reply, it was submitted by the learned departmental representative that the decision of the bombay high court in the case .....

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Aug 14 1998 (TRI)

Assistant Commissioner of Income Vs. B.K. Jhala and Associates

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1999)69ITD141(Pune.)

..... lord diplock in reg vs. nat. ins. commr. (1972) ac 944. lord diplock observed : "meticulous linguistic analysis of words and phrases used in different contexts in particular sections of the act should be subordinate to this purposive approach. it should not distant your lordships from it." the words "sales", "turnover", "gross receipts" are commercial terms and they should be ..... 8. as regards the reliance placed by the learned departmental representative on the dictionary meaning of "turnover" (quoted supra), we are of the opinion that words in a section are not to be interpreted by having those words in one hand and the dictionary in the other hand.in spelling out the meaning of the words in a ..... section, one must take into consideration the setting in which those terms are used and the purpose they are intended to serve. the two rules of most general .....

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Oct 29 1998 (TRI)

Jalgaon Distt. Central Co-op. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)70ITD290(Pune.)

..... from commission on bills collection from mseb is neither co-related nor having any direct or proximate nexus with the definition of "banking" as given in section 5(b) of the banking regulation act which reads . . . "banking'means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand ..... representative further submitted that while considering a similar issue the supreme court in the case of madhya pradesh co-op.bank ltd (supra), while interpreting section 81 of the income tax act, has held that only the income from the activity which can be regarded as essential part of the banking activity would be exempt and it ..... an all together different source and is not at all a normal part of the business of banking.according to the learned departmental representative, section 6(1) of the banking regulation act, 1949 itself makes it very clear that the banking companies in addition to business of banking are permitted to engage in any one or .....

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Oct 29 1998 (TRI)

Jalgaon District Central Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1999)70ITD290(Pune.)

..... r/w s.80p(2)(a)(i), what the assessee is required to prove is that the income in question is "attributable" to the business of banking. sec. 5(b) of the banking regulation act, 1949, defines what the term "banking" means. it does not say that activities defined as "banking" were the only activities attributable to the business of ..... banking. sec. 6(1) of the banking regulation act, 1949, enumerates various activities which a banking company could carry on. in this regard, it has to be noted that the activity of bill collections falls ..... court is compelled to depart from the earlier view, it should be seen that no injustice is caused to the assessee.12. sec. 6 of the banking regulation act, 1949, has to be read as a whole. sec. 6(1) enumerates all such activities which a bank is required to undertake to exist and work as a bank and, therefore .....

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Dec 03 1998 (TRI)

Shivamrut Dudh Utpadak Sah. Sangh Vs. Deputy Commissioner of Income Ta ...

Court : Income Tax Appellate Tribunal ITAT Pune

..... in respect of income which arise applying the principles of mutality. no such exemption is available to an aop. (d) co-operative societies are distinctly referred to in various sections of the act, e.g., ss. 2(18)(ad), 2(24)(vii), 27(iii), 36(1)(i)(a), 40(na), 45(3), 80-i(a)(5), 80-i(6)(i), ..... of "person" may also be an assessee by itself. there can be a person falling within the category of "boi" or 'artificial juridical person".referring to the different sections of the act, the learned counsel proceeded to point out the distinction between aop and a co-operative society and submitted that since the co-operative societies have been kept out of ..... a co-operative society is a voluntary aop not motivated by business consideration. the it act itself distinguishes between aop and a co-operative society in the following manner : (a) sec. 2(19) of the act defines a co-operative society. there is no definition of aop in the act. (b) the rates of income-tax prescribed for a co-operative society are .....

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Apr 01 1999 (TRI)

Salvi Divakar Shankar Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)66TTJ(Pune.)698

..... to be given a very wide meaning and in that sense an income from salary disclosed by the employer in the return under section 206 can be regarded as disclosure for the purpose of the act and such income particularly when tax is deducted at source cannot constitute undisclosed income for the purpose of chapter xiv-b.for the purpose ..... of india and joined m/s s.n. construction, ratnagiri, as a partner. his family consists of himself, his wife and two daughters.a search and seizure action under section 132 of the income tax act, 1961, was carried out at the residence of the assessee. as a result of search assessment was completed by the assessing officer under ..... if the assessee has not filed a return, it means that there is no disclosure for the purpose of the act as envisaged under section 158b(b). such a restrictive view is not at all warranted by the provisions of law. section 158b(b) defines 'undisclosed income' to include income or property which has not been or would not have been .....

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May 11 1999 (TRI)

Assistant Commissioner of Vs. Meherjibhoy Nawrozji Satha

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)72ITD535(Pune.)

..... 1995 had confirmed the view taken by the assessing officer adopting the status of the assessee as private discretionary trust. the assessing officer accordingly denied the exemption under section 5(1)(i) of the act.3. on appeal, the cwt(a) reversed the finding of the assessing officer observing as under : "the contention of the learned acit is not tenable ..... establishment, property maintenance etc. he therefore, argued that during the years, as the entire amount was spent on charity the trust should be entitled to exemption under section 5(1)(i) of the act. the learned counsel relied upon the judgment of the bombay high court in the case of trustees of k.b.h.m bhiwandiwalla trust v. cwt [1977 ..... years 1991-92 and 1992-93 in which it was held that the trust was not a charitable trust and hence does not qualify for exemption under section 11 of the income-tax act, is of no assistance to the revenue. the hon'ble jurisdictional high court in the case of state bank of india (supra) has held that .....

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Sep 14 1999 (TRI)

Sou. Vidya Madanlal Malani Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)74ITD341(Pune.)

..... scheme of chapter xiv-b. section 158ba is the charging section which is also non of obstante clause vis-a-vis the entire provisions of the act. therefore, in case of any conflict, this section will prevail over the other sections including sections enacted in chapter xiv-b. sub-section (1) of section 158ba empowers the assessing officer to ..... proceed to assess the undisclosed income in accordance with the provisions of chapter xivb. undisclosed income has been defined in section 158b. so ..... question is whether the income of rs. 31,670 declared by the assessee for assessment year 1994-95 should be considered as undisclosed income under section 158b.perusal of the statement of income filed alongwith the returns for assessment years 1992-93 and 1993-94 shows that sources of income of the .....

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