Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)270ITR73(Kol.)
..... of the rent payable to him. on the failure to recover any sum due on account of consolidated rate from the person primarily liable there of under section 193, section 195 of the cmc act speaks of recovery from every occupier, by way of attachment of the rent payable by such occupier, a portion of the total sum due which bears, ..... an agent to collect the surcharge from the occupier. in this connection the following observation of hon'ble madras. high court in the case of c.i.t. v.southern explosives co. (2000) 242 itr 107 is useful to be referred -- "in the instant case, the amounts collected by the assessee were amounts which were meant to be utilized ..... for energy supplied by the licensee, the licensee can, at the option of the state government, be proceeded against for the recovery of the electricity duty under section 8(a) of the act. in view of the clear liability of a licensee who has recovered the charges for the electricity supplied, it cannot be said that a licensee being an agent .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)88ITD247Cal
..... basis of the rent payable to him. on the failure to recover any sum due on account of consolidated rate from the person primarily liable thereof under section 193, section 195 of the cmc act speaks of recovery from every occupier, by way of attachment of the rent payable by such occupier, a portion of the total sum due which bears ..... or as an agent to collect the surcharge from the occupier. in this connection the following observation of hon'ble madras high court in the case of cit v. southern explosives co. [2000] 242 itr 107 is useful to be referred- , in the instant case, the amounts collected by the assessee were amounts which were meant to be ..... occupation of the tenanted premises for commercial purposes is to be treated as actual rent received for the purpose of determining annual value within the meaning of section 23 of the it. act (as it then stood), and the taxes including surcharge levied by municipal corporation and actually paid by the assessee during the relevant year is to be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2003)86ITD219(Kol.)
..... record, i find that there is no dispute in regard to the recovery of transportation charges by the assessee from the chemical companies for transportation of explosives. section 32 of the it act, 1961, provides for allowance of deduction on account of depreciation in respect of assets owned and used by the assessee for purposes of business or ..... amongst the members of bench in regard to the rate of depreciation applicable on vans used for transportation of explosives, the president of the tribunal has, accordingly, nominated me as third member under section 255(4) of the it act in regard to the point of difference formulated by the division bench as under : "whether, on the ..... in appeal before the cit(a) who concluded as follows: "3.2 i have examined the above submissions. it is a fact that while acting as consignment agent for transportation of explosives, the appellant was hiring out his vehicle to others. therefore, it is not correct to infer that in such activities, the appellant was .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)89ITD415(Kol.)
..... india, obtaining sanction of rajasthan government for grant of mining lease for limestone, carried out detailed prospecting work under the guidance of one expert organization, applying for explosive licence and obtaining approval for electricity connection from rajasthan state electricity board, establishing a project office at chittorgarh, rajasthan, etc. the assessee explained that the amount ..... this letter being nil, there cannot be any question of computation of capital gain, under section 45 read with section 48 to 55 of i.t. act, 1961.5. the a.o. observed that in addition to the various measuring being taken by the assessee, the assessee has ..... is not a capital asset. as no capital asset was transferred, this sum could not be treated as capital gain within the meaning of section 45 read with section 48 to section 55. it was further pleaded that the value of this letter of intent cannot be determined and, therefore, the cost of acquisition of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2002)83ITD111(Kol.)
..... in the assessment order viz., that serial number of the cylinders were never made available to the ao, that possession of cylinders being subject to arms & explosives act, that the effect of sale-aim-lease-back agreement was never mentioned in the assets registers and finally strongly about the disclosure made by sb under the vds ..... of making the regular assessments. even if, there was some non-disclosure of any important piece of information the ao was entitled to initiate reassessment proceedings under section 147 for tackling such non-disclosure of material information. from the records it does not appear that the ao got into possession certain materials directly from the ..... that is why the assessee requested the ao through its letter dt. 22nd march, 1999, compiled at pp. 41 to 43 to issue summons under section 131 of it act upon ccil and sb. the learned authorised representative of the assessee said that the ao neither issued summons nor even he felt it desirable to get responsible .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1992)41ITD582(Kol.)
..... wishes to challenge its liability to pay interest, it is open to it to challenge the same in an appeal provided under clause (c) of sub-section (1)of section 246 of the act. such challenge may relate to liability of the assessee to pay advance tax alone or that the amount of tax determined by the assessing officer as payable ..... is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 of the act. thus, if the main section is considered along with first proviso and both are harmoniously construed keeping in view the intent and purpose of the provision the only conclusion ..... high court. the hon'ble calcutta high court in the case of cit v. indian explosives ltd. [1991] 192 itr 114 has held that reimbursement of medical expenses to employees could not be disallowed under section 40 a(5) or 40(c) of the act. the details of expenses and salary paid to employees are to be examined by the assessing .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1987)20ITD470(Kol.)
..... of the assets of the respective undertakings for the purpose of determining the qualifying amount deductible under section 80j (1) of the income-tax act, 1961 ('the act').3. in the assessment year 1978-79 the assessee set up an industrial explosive plant at korba (korba unit no. 1) which went into commercial production on 1-3- ..... does not come within the purview of section 80j of the act'. the ito in the circumstances, rejected the assessee's claim.4. in the assessment year ..... capital employed in the industrial undertaking computed in the manner specified in sub-section (1a) of that section in respect of the previous year and since there is no capital (representing share capital and reserve) employed by the assessee in the industrial explosive plant at korba during the relevant previous year the assessee's case .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2008)115TTJ(Kol.)577
..... the i t. rules, constitute a specific code or legislation on account of transfer pricing.15. as per the provisions of section 92e of the it.act read with section 92d of the it act any assessee entering into any cross border transaction with an ae is required to furnish a certificate in the form accountant report ..... the commissioner (appeals). 5. before proceeding to discuss the determination of alp on transaction by transaction basis, shri mitra submitted that as per section- 92c(1) of the it act. the arm's length price of an international transaction is required to be determined using any of the prescribed methods, being the most ..... the form of subsidiaries and further step down subsidiaries incorporated in foreign countries, all the which are admittedly "associated, enterprises" (ae), within the meaning of section 92a of the it act. the said aes are as follows (a) development consultants international limited (dcil), a company incorporated in bahamas; (b) the kuljian corporation (tks), a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2008)301ITR171(Kol.)
..... kinds of tea.97. the assessee was having a small scale industrial undertaking for the above process of tea. it claimed weighted deduction under section 35b of the income-tax act, 1961. as per section 35b, weighted deduction was available to a small scale exporter who exports goods manufactured or produced in any small scale industrial undertaking. in ..... of account payee cheques. this factual position could not be denied on behalf of the revenue. such transactions could not be hit by the provisions of section 40a(3) of the act. the income-tax officer made a mistake in understanding the term 'pay order' and the manner in which the payments were made on behalf of ..... only in cases where the genuineness of the expenditure incurred in cash is in doubt. he stated that right at the time of insertion of section 40a(3) in the act, there was apprehension that the provisions may cause undue hardship and inconvenience to certain assessees in respect of cases where payment by cheque is not feasible .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2008)115TTJ(Kol.)822
..... subsequently, the assessee company filed a revised return showing net total income at rs. 21,30,91,725. the return was selected for scrutiny assessment under section 143(3) of the act, and assessment was completed on 29th dec, 2006 at the figure of total income of rs. 28,21,61,831 after making various additions. the ..... the start of production as the criteria for allowing deduction as the ao had interpreted and in support of the same he submitted that in certain sections of the act, the legislature has made a difference between pre-commencement of manufacturing activity arid post-commencement thereof and in the matter of allowance of certain benefits under ..... the act, commencement of the manufacturing activity is a prerequisite. but where no such specific mention is made in the relevant section and only a condition is laid down that the assessee should be engaged in the business, a .....
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