Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Dec-15-1989
Reported in : (1990)32ITD550(Ahd.)
..... failure and reject the assessee's claim of carry forward and set off of loss on the ground that loss had not been determined as required under section 24(3) of i.i.t. act, 1922. in this case also the ito had chosen not to allocate the amount of unabsorbed depreciation of a.ys. 1975-76 and 1977-78, which was ..... and reject the assessee's claim of carry forward and set off of loss on the ground that the loss had not been determined as required under section 24(3) of the indian income-tax act, 1922. the learned counsel, therefore, submitted that even if it is assumed that in view of judgment of hon'ble gujarat high court having territorial jurisdiction ..... ground no. 2, the learned d.r. submitted that the cit(a) was not justified in directing the ito to remit the interest under section 215of the act. it was submitted that an order of rectification passed under section 154 is covered by the term 'regular assessment' as held by the hon'ble gujarat high court in bardolia textile mills v. 770 [1985 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Nov-29-1989
Reported in : (1990)32ITD703(Ahd.)
..... the processing work. it cannot be said that the company is doing only the trading activity. in this background, the appellant is entitled for relief under section 80hha and 80 i of the act.4. it is in the aforesaid circumstances that the revenue has come up in appeal before the tribunal. the learned dr at the outset supported the ..... order of the cit(appeals): the learned cit(a) has erred in law in holding that the assessee company satisfies the conditions prescribed under section 80hha(2) and under section 80-1 (2) of the i.t. act.2. the respondent in this case is a private limited company and the asst. year involved is 1983-84 with the previous year ..... ito in the course of the assessment proceedings rejected the claim for deduction under sections 80-1 and 80hha of the i.t. act, 1961. in doing so he recorded the following reasons: 3. the company has claimed deduction under section 80-1 and 80hh of i.t. act. the company has claimed that their business is of processing of seeds and therefore .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Sep-26-1989
Reported in : (1989)31ITD315(Ahd.)
..... had been created within a period of one month, they all had the same address and that the ultimate beneficiaries were all inter-related. he contended that section 3 of the trust act applied to the 21 discretionary trusts also which meant that their income was for the benefit of others and so these trusts were merely conduit pipes. according to ..... in the field of the law of trusts.8. he then referred to the ito's order. he submitted that although the ito had stated that section 8 of the indian trusts act forbade a trust upon trust that was not applicable because in the present case the subject matter of the 21 discretionary trusts was only rs. 500 in ..... of the assessee's trust deed was plain and so there was no scope for applying the decision in mcdowell's case.6. his next submission was that section 164 was a charging section and according to explanation 1 thereto if under the trust deed the beneficiaries of the income thereof was identifiable, the trust was a specific trust. thus, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Aug-01-1989
Reported in : (1989)31ITD293(Ahd.)
..... house or part of a house belonging to the assessee" was not there at the relevant valuation date, so as not to attract the exemption clause (iv) of section 5(1) of the act.9. in the case of smt. kaushalya rani (supra} delhi bench-e of the tribunal had the occasion to consider the claim of an assessee for exemption under ..... valuation of the properties does not make subject matter of appeal before us. any way, the w.t.o. did not give any exemption to the assessee under section 5(1) of the act in respect of the house property as well as the shares and bank deposits on the ground that the assessee was not owner of such assets. he, however ..... immovable property. further, the tribunal relying upon madras high court decision in the case of k.ramachandra chettiar (supra) held that the assessee was entitled to exemption under section 5(1) (iv) of the act in respect of his life interest in the house property.10. in the case of k. ramachandra chettiar (supra), the madras high court considered claim of an .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Jul-24-1989
Reported in : (1990)32ITD92(Ahd.)
..... earlier case of cwt v. savithri (t.c. nos. 165 to 167 of 1975 dated 17-12-1979) which relates to similar amendment made to section 18 of the act by the finance act, 1969. following respectfully, the aforesaid judgment, we hold that the commissioner was justified in invoking his revisionary jurisdiction in passing the impugned orders which are ..... of penalty for filing prima facie wrong estimate of advance tax, the question of limitation of time was involved for levy of penalty in terms of section 275 of the 1961 act. in that case, the assessment was completed on 20-1-1971 and penalty was levied on 9-3-1973 which was beyond the period of two ..... dated 1-12-1984 which is reproduced below, for the sake of facility: 'as a consequence of the amendment of section 263, by section 47 of the taxation laws (amendment) act, 1984, the limitation for passing an order under section 263 will, in view of general principles of interpretation of statutes, stand extended in cases where the period of limitation .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : May-29-1989
Reported in : (1990)32ITD415(Ahd.)
..... to file revision to commissioner. since the sum and substance of the present appeal is ito's refusal to grant interest under section 214 the appeal cannot be entertained in law since section 246 of the it. act does not provide for an appeal from an order of the ito determining the interest payable by the government or by the ..... holding that appeal is maintainable against an intimation given to the assessee regarding not entitlement of interest under section 214 of the act. (2) the learned cit(a) has erred both in law and on facts in holding that interest under section 214 is allowable up to date of order giving effect to appellate order.3. the learned d.r ..... assessee under section 214 or section 215 or section 217. in view of the above reasons, the appeal is rejected.10. the learned counsel for the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Mar-14-1989
Reported in : (1989)30ITD23(Ahd.)
..... activity, the appellant sarabhai foundation had totally failed for assessment year 1981-82 to have any credibility capability or intention to do charity in terms of section 11 of the income-tax act." "be that as it may, on the basis of the facts brought on record i hold that the sarabhai foundation did not do any ..... institution may render assistance in the nature of a charity even to an individual who cannot have any registration or recognition under the it act and yet that would be an application of income under section 11." the learned standing counsel submitted first of all that the activities of the "samaj" were not open to the public and ..... misunderstanding of the iacs ground. no doubt the iac has said that the "samaj" is not registered as a charitable institution under the it act but that does not mean that he was considering section 80g. his subsequent observations quoted above clearly show that according to him promotion of music cannot be called a charitable activity under the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Mar-07-1989
Reported in : (1990)34ITD403(Ahd.)
..... separate limitation of time with reference to order of revision passed by the commissioner u/s. 25(2).the learned counsel also contended the direct tax laws (amendment) act, 1985 has now inserted section 5(ii) providing for separate limitation of time where the relevant assessment is the subject matter of revision u/s. 25(2). this provision is effective from 1 ..... 1) (a) for all the aforesaid years should be restored. the learned d. r. further contended that the assessees case is clearly covered by the provisions of section 18(5) (b) of wt act, 1957 which provides the limitation of time relating to any other case (others than which are subject matter of appeal before the aac/cit (a) or before ..... appeals : (1) on the facts and in the circumstances of the case and in law, the learned aac erred in deleting the penalty levied under section 18(1) (a) of the wealth-tax act.(2) on the facts and in the circumstances of the case and in law, the learned aac ought to have upheld the order of the wto.5 .....
Tag this Judgment!