Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: recent Court: income tax appellate tribunal itat delhi Year: 2003 Page 1 of about 35 results (0.692 seconds)

Saipem S.P.A. Vs. Dcit (Asstt.) Special Range 1

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)276ITR55(Delhi)

..... that the amounts made liable to tax therein are in line with the scope of total income as provided in sub-section (2) of section 5 of the act. clause (a) of sub-section (2) of section 44bb of the act provides that the presumptive rate of taxation shall be applied on the amounts paid or payable on account of provisions of ..... under consideration wherein it has been held that mobilisation charges in respect of voyage outside the territorial waters of india are not taxable in view of section 5 read with section 9 of the act. the learned accountant member has, on page 18 and 19, relied upon the decision of the delhi tribunal in the case of sedco forex ..... filed before the bench:- "the scheme of taxation of income under the income-tax act, 1961 ("the act") is summarised hereunder: section 1 provides that the provisions of the act shall apply to the whole of india. sections 4 and 5 are the charging sections of the act. section 4 brings to charge total income of every person of the previous year at .....

M/S. Shriram Honda Power Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)87TTJ(Delhi)785

..... therein have observed that when additional tax has the imprint of penalty, the revenue cannot be heard to say that the levy of additional tax is automatic under section 143(1a) of the act. they were of the view that if additional tax can be levied in such circumstances, it will be punishing the assessee for no default of his which cannot ..... of the delhi high court in the case of m/s. modi cement ltd. 193 itr 91 (del). now, at this stage, in view of the amendment in section 143(1a) of the act which has permitted charging of the additional tax retrospectively with effect from 1.4.89, on this addition of rs. 90,45,364 made by way of revised ..... appeal before the first appellate authority. firstly, it was contended that the intimation dated 15.3.93 was not valid since it was issued after a notice under section 143(2) of the act for which, reliance was placed upon modern fibotex india ltd. () 212 itr 496 (cal) and gujarat poly avx electronics () 222 itr 140 (guj).it was further contended that .....

Cea Consultants (P) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)87TTJ(Delhi)1146

..... to m/s. s.w. consultants (p) ltd., wholly owned subsidiary company of the assessee company and, as such, the assessee was covered by exemption under section 47(iv) of the act.the assessing officer observed from the details submitted by the assessee that m/s. s.w. consultants (p) ltd. had been claimed as a wholly owned subsidiary ..... required to explain as to why the books of accounts maintained for the assessment year 1995-96 should not be rejected in view of the provisions of section 145(2) of the act and the investments made through the above transactions should not be considered as an after thought to avoid tax liability accrued on the same transactions of shares ..... transactions made for the sales of shares to m/s. s.w. consultants attract the provisions of gection 145, and it does not qualify for exemption under section 47(iv) of the act. the assessee has tried to give a colourable device to the whole show to avoid the incidence of taxation of capital gains by following such tactics. my .....

Pragati Construction Co. Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)89ITD271(Delhi)

..... . 95,772/- as business income. 3. the cit(appeal) has erred in disallow the deduction under section 48 of the income tax act for rs. 55,386/-. 4. the cit(appeals) has erred to sustain invoking the provisions of section 145 of income tax act to treat the investment as stock-in-trade. 5. the cit(appeals) has erred by not dealing ..... short term capital gain and was assessed as such. however, important thing to be noted here is that since it was declared as short term capital gain, no deduction under section 48(2) was claimed. hence its treatment as short term capital gain or as business income was irrelevant for computation of total income. moreover, assessment of each year is ..... in trading of space in devika tower itself shows that terms and conditions of the partnership deed have been violated. in view of the points cited above provision of section 145 are being involved and the investment in the space in devika tower is to be treated as stock-in-trade and profit from sale of the said space is .....

Mohan MeakIn Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

..... (b)? the following points of difference between the learned members constituting the division bench were referred to me as third member by the hon'ble president acting under section 255(4) of the i.t.act, 1961: - "1. whether on facts and in law, the income-tax appellate tribunal committed an apparent mistake by including the following in the directions ..... (1) in view of the supreme court judgment in the case of allied motors, 224 itr 677 wherein it has been held that proviso to section 43b invoked by finance act, 1987 was retrospective and would apply to earlier years also. proceeding further, it was stated that by inadvertence, the tribunal failed to consider the said judgment ..... pressed before us during the hearing as mentioned above, we hold that there was no mistake apparent from record and there is no case for action under section 254(2) of the act. the assessee by raising these points in the misc. application has in fact tried to obtain review of the order which is not permissible under .....

Twenty First Century Steels Ltd. Vs. Dy. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)94ITD258(Delhi)

..... assessee are incorporated by the ao in paras 5.4 to 5.6 of his order which are as under: "5.4. unlike investment allowance under section 32a of the act, section 32ab does not allow deduction in respect of installation charges of parts of machineries used for that purposes. it only provides for deduction i respect of ..... no utilization. if payment by instalment under the terms of contract constitute utilization, then equally, payment of advance would also constitute utilisation for the purposes of section 32ab of the act." 50. in view of the ratio of the above decisions, it is clear that the courts have adopted a purposive and contextual interpretation in relation to ..... placement of overhead crane, annealing furnace and ladle for casting of rolls and these items could be designated as plant or machinery within the meaning of section 32ab of the act.11. the learned cit(a) rejected the plea of the assessee by observing that sine the assessee had not purchased these items of plant and machinery .....

Prakash Financer and Storage Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)84TTJ(Delhi)247

..... other sources or whether such rental income cannot be assessed in such assessment years to which such income relates as income from house property.27. explanation 1 attached to section 23 of the it act defines only rent. the board has issued a circular. it was considered in the case of hope (india) (p) ltd (supra) and the hon'ble high court has ..... of its receipt.it was also held that any arrears of rent received on account of a previous year cannot be brought to tax in the year of receipt under section 22 of the act, it was thus, concluded that additional rent attributable to earlier year is received in a particular year of account, such rent cannot be taxed under ..... section 22 of the act but can be taxed under the residual head "income from other sources". the hon'ble calcutta high court in view of these facts held that if the arrears of rent .....

Dev Kumar JaIn Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)82TTJ(Delhi)703

..... and where any such reference is made, the provisions of sub-sections (2), (3), (4), (5) and (6) of section 16a, clauses (ha) and (i) of sub-section (1) and sub-sections (3a) and (4) of section 23, sub-section (5) of section 24, section 34aa, section 35 and section 37 of the wt act 1957 (27 of 1957), shall with the necessary modifications, apply in ..... which was referred to their lordships was whether understatement of consideration in a transfer of property is a necessary condition for attracting the applicability of section 52 sub-section (2) of the it act 1961 or it is enough for the revenue to show that the fair market value of the property as on the date of the transfer ..... kerala high court challenging the validity of the order of reassessment insofar as it brought the sum of rs. 48,500 to tax relying upon section 52 sub-section (2) of the act.27.6 the learned single judge game to the conclusion in the writ proceedings that the understatement of consideration in respect of the transfer was .....

Sudisha Farm Nursery Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)88ITD638(Delhi)

..... w.e.f. 1st april, 1992. it had been declaring its income from agriculture since asst, yr. 1993-94 and claiming the same as exempt under section 10 of it act, 1961 (in short act). for asst, yr. 1998-99, if filed its return on 30th oct., 1998, declaring income of rs. 2,460 as interest income in addition to ..... pots are carried out in continuation of basic operations then, in our considered opinion, income from such nursery would be agricultural income not liable to tax under section 10 of the act. however, if the nursery is maintained independently without resorting to basic operations on the land then income from such nursery would be liable to be included in ..... the income arising from the sale of plants grown by the assessee in its nursery/farm can be said to be agricultural income as defined in section 2(1a) of the act, according to this section, any income derived from land, which is situated in india and is used for agricultural purposes, by agriculture would be agricultural income. the ao .....

Steri Mould (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)88ITD78(Delhi)

..... officer is erroneous but is not prejudicial to the revenue or if it is not erroneous but is prejudicial to the revenue - recourse cannot be had to section 263(1) of the act. the provision cannot be invoked to correct each and every type of mistake or error committed by the assessing officer, it is only when an order ..... cit [2000] 243 itr 83.5. it was further slated that the said amount cannot be brought to tax as a casual and non-recurring receipt under section 10(3) of the act.it was also submitted that casual receipts are such receipts, which are received by chance and the receipts received by assessee are not received by chance. the ..... nature, therefore, they held that the orders of the assessing officer were erroneous insofar as they are prejudicial to the interests of revenue. therefore, notices under section 263 of the income-tax act were issued to these two assessees. detailed replies were filed and reliance was placed on various case laws. some of the cases on which the reliance .....