Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: recent Court: income tax appellate tribunal itat chandigarh Page 1 of about 155 results (0.137 seconds)

Joint Commissioner of Vs. Kwality Cafe and Restaurant (P.)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)105ITD169(Chd.)

..... on behalf of foreign principals and bought and sold on its own account. under an unwritten agreement which was terminable at will the appellant acted as sold agents and distributors of explosives manufactured by the imperial chemical industries (export) ltd. that agency was terminated and by way of compensation the imperial chemical industries (export) ltd ..... 1982. it was contended that there was no breach of contract insofar as there was no violation in terms of the trade marks act, 1958/1999 in particular section 34 of the act. our attention was invited to delhi high court judgment in senor laboratories ltd. v. jagsonpaul pharmaceutical air 1922 delhi 102 para 9 ..... that in the alternative the assessee having incurred expenditure for the acquisition of trademarks and also having paid advertisement expenses, the amount received was assessable to tax under section 41. in support, reliance was also placed on the decision of the supreme court in the case of polyflex (india) (p.) ltd. v. cit . .....

The J.C.i.T., Special Range-1 Vs. Kwality Cafe and Restaurant (P)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... on behalf of foreign principals and bought and sold on its own account. under an unwritten agreement which was terminable at will the appellant acted as sold agents and distributors of explosives manufactured by the imperial chemical industries (export) ltd. that agency was terminated and by way of compensation the imperial chemical industries (export) ltd ..... disclosed by the assessee for goodwill was not sufficient as it was without any basis. it was further contended that the amendment in section 55(2)(a) and section 32 of the act clearly indicate the legislative intent. it was accordingly pleaded that the appeal of the revenue may be allowed.20. we have given our ..... in the alternative the assessee having incurred expenditure for the acquisition of trade marks and also having paid advertisement expenses, the amount received was assessable to tax under section 41. in support, reliance was also placed on the decision of the supreme court in the case of polyflex (india) pvt. ltd. v. cit 257 .....

Malwa Cotton Spinning Mills Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)89ITD65(Chd.)

..... concerns.15. the hon'ble calcutta high court in the subsequent judgments in the cases of reckitt and colman of india ltd. vs. cit 135 i.t.r. 698, indian explosives ltd. vs. cit 147 i.t.r. 392 and british paints (india) ltd. vs. cit 190 i.t.r. 196 has followed its earlier judgment in the case ..... only when there is no nexus between interest bearing loans and interest free advances given by the assessee. hence, as per the above decisions as also provisions of section 36(1)(iii) of it act, the disallowance of interest is fully justified. the disallowance of interest is also justified in view of the decision of hon'ble allahabad high court (supra), ..... which the assessee paid interest. no evidence has been filed by the assessee to prove that these funds were advanced to oswal palms ltd for the purpose of business. section 36(1)(iii) lays down three conditions.only on complying with these conditions, the assessee is entitled to deduction of interest. these are that the assessee must have borrowed .....

Malwa Cotton Spinning Mills Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)83TTJ(Chd.)72

..... -free loans given to the sister-concerns.the honble calcutta high court in the subsequent judgments in the cases of reckitt & colman of india ltd. v. cit (supra), indian explosives ltd. v. cit (supra) and british paints (india) ltd. v. cit (supra) has followed its earlier judgment in the case of woolcombers of india ltd. (supra ..... high court reported in woolcombers of india ltd. v. cit (1982) 134 itr 219 (cal), reckitt & colman of india ltd. v. cit (1982) 135 itr 698 (cal), indian explosives ltd. v. cit (1983) 147 itr 392 (cal), british paints (india) ltd. v. cit (1990) 190 itr 196 (cal). he also placed reliance on the judgment of ..... of the assessee. respectfully following the aforesaid decisions , we direct that st and cst be not included in total turnover for purposes of calculating relief under section 80hhc of income tax act. this ground of appeal is accepted." respectfully following the aforesaid decision, we accept this ground and direct the assessing officer to allow cst and st .....

R. S. Narula Vs. Income-tax Officer.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1986)17ITD576(Chd.)

..... no. 28.sector 9-a, chandigarh, surrounded by a fruit garden beside the lawn in front, back and sides. the property in question was rented out to the indian explosives limited at a total monthly rent of rs. 2,000 per month with rental bifurcation in respect of different parts of the property, as under : (g) fixed price ..... 3 of her order making the following observations, confirmed the action of the ito : ".... this income cannot be categorised as agricultural income within the meaning of section 2 of the income-tax act. this income is part and parcel of rental income." 4. while disputing this finding of the aac, the learned counsel for the assessee s. s. rikhy ..... 400 on account of value of fruit in the compound of the building. moreover, this cannot he said to be agricultural income in view of definition to section 2 of the income-tax act." as per this observation, the ito rejected the assessees claim of exemption in respect of rs. 2,400 having held the same as non-agricultural income .....

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)107ITD343(Chd.)

..... granting deduction in the computation of income compared to the year of accrual or the incurring of liability or raising of the demand. 4. section 145(1) of the it act recognizes two methods of accounting, either cash or mercantile system, to be regularly employed by an assessee for the purpose of computing income chargeable ..... about the change, it has brought about in the claim of deduction of statutory liability, their lordships observed as under: prior to the insertion of section 43b in the it act, 1961, income chargeable under the head "profits and gains" of business or profession was computable in accordance with the method of accounting regularly employed by ..... might not have been payable within that year under the relevant law.the significant words in the provisions are "previous year" which is defined in section 3 of the act to mean "the financial year immediately preceding the assessment year" (proviso is not relevant and is being not considered). therefore a literal construction .....

Asstt. Cit Vs. Kishore Lal Balwant Rai

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... and the purport of chapter xiv-b dealing with the procedure for making assessment in the cases of search which has been inserted in the act by the finance act, 1995 consisting of sections 158b to 158bh with effect from 1-7-1995. under these provisions the undisclosed income detected as a result of a search initiated or ..... (co. no. 58/chandi/05), the assessee has challenged the validity of assumption of jurisdiction by the assessing officer by issuance of notice under section 158bd read with section 158bc of the act. we find it appropriate to record hereinafter the rival submissions on this issue.19. the plea of the assessee is that the proceedings initiated by ..... of account of the assessee and therefore the amount of loan along with interest earned thereon represented undisclosed income chargeable to tax in terms of section 158bd read with section 158bc of the act. the reasons which weighed with the assessing officer to hold so can be summarized as follows: (i) that the annexure a-1 was .....

Acit Vs. Mahavir Spinning Mills Limited

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2008)110ITD211(Chd.)

..... dr. for the revenue, strongly supported the order of assessing officer and further submitted that me turn over of the unit who was claiming deduction under section 10b of it act, could not be mixed with another turn over to claim another benefit he submitted that it can not be the intention of the legislature to allow double ..... clauses (ma) (iiib) (iiic), (iiid) and (iiie) of section 28 of the act or receipts of brokerage, commission, interest, rent charges or any other receipt of similar nature included in such profits clause (baa) as referred to above, talks of procedures ..... to the above provisions shows that the assessee is entitled to deduction to the extent of profits derived from export. explanation (baa) appeneed to clause 4 of section 80 hhc of the act defines the term "profits of the business" as profits and gains of business or profession reduced, inter-alia, by 90% of sun referred to in .....

Glaxo Smith Kline Consumer Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)112TTJ(Chd.)94

..... to be included in the valuation of closing stock, the same needed to be reduced in order to give full effect to the provisions of section 43b of the it act, 1961 ("the act"). the tribunal in that year remanded the matter back to the ao to decide the same in light of the decision of the special bench ..... ttj (chd) 1025 : (2004) 88 itd 496 (chd). the learned counsel has also made an alternative plea that the expenditure in question is allowable under section 37(1) of the act being an expenditure incurred wholly and exclusively for the purposes of business and is revenue in nature.52. on the other hand, the learned departmental representative submitted that ..... herein also. in the result, on this ground the assessee succeeds.24. the second issue is with regard to the manner of computing deduction under section 80hhc of the act. while computing deduction under section 80hhc the ao included sales-tax, excise duty, freight etc. as part of the total turnover. similar issue has been dealt with by us .....

Assistant Commissioner of Vs. Aggarwal Construction Co.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)291ITR226(Chd.)

..... above circumstances, i see no justification for upholding levy of penalty in this case. the provisions which the revenue can rely upon is sub-section (2) of section 44aa of the act which enjoins upon the assessee to keep and maintain such books of account and other documents as may enable the assessing officer to compute his ..... sheet and other documents as per the requirement of the provisions of law, clearly indicating the contravention of various provisions of the act like sections 269ss, 269t, section 40(a)(3) and other provisions of the act. therefore, net accretion to the asset of the business could not be determined by the assessing officer on the basis of ..... account. --the genuineness of expenses claimed by the assessee could not be verified. --the assessee is not following correct method of accounting as prescribed under section 145 of the act. --the factum of payment of interest/salary to the partners is not verifiable without the books of account and also the daily cash position.10. .....