Array ( [0] => ..... right vested in the stock exchange be disposed of by inviting offers with a minimum floor price of rs. 25,00,000/-. a provisional attachment order under section 281b of the act was issued by the income tax authorities in respect of the membership card in the name of rajesh shah. the supreme court held that under the rules of ..... the rights in the card vested with exchange authorities. therefore, when the member did not have any property in the card, such card could not foe attached under section 281b of the act. similar were the rules so far as mse was concerned. he referred to clause 38 of the articles of association of mse and also article 48(a) ..... court was reversed. the supreme court held that the membership right in question was not the property of the assessee and, therefore, it could not be attached under section 281b of the act. in arriving at this conclusion the supreme court referred to its judgement in the case of vinay bubna v. stock exchange 97 comp. cas 874, in which it ..... [1] => ..... of using the words a residential house the words one residential house would have been used therein. it may also be noted that under general clauses act, as per section 13, singular shall include plural and vice versa. reliance placed on the decision of honble supreme court in vegetable products ltd. case to the extent that ..... if the assessee is holding a residential house and on sale of such property, the assessee acquires another property, the assessee is eligible for deduction under section 54 of the act. if the assessee, in the same year sells a residential house and acquires a house property out of such transaction, still the assessee is eligible ..... partition of shri p.c. ramakrishna is perfectly in accordance with the provisions of law and the same should be recognized as a family partition under section 171 of the act.accordingly, he urged the bench to recognize the partition and reverse the orders of the lower authorities.6. the learned departmental representative relied on the orders ..... [2] => ..... deducted from wdv. he argued that after introduction of the concept of block of assets, the calculation of short term capital gain has been separately provided in the act under section 50. this section clearly provides that in the case of depreciable assets, the short term capital gain shall be calculated by deducting from the sale value of the consideration (a) ..... gain of rs. 1,88,47,376 by the assessing officer by adding notional breakage and deducted from wdv on an estimated basis without considering the provisions of section 50 of the act. (2) the cit(a) ought to have appreciated and held that the lease compensation charges of rs. 1,84,63,0297- is in the nature of ..... high court in the case of cit v. cherian leasing ltd., which is a very small order and make the situation very clear. this appeal under section 260a of the income tax act has sought to raise various questions purporting to be questions of law, however paragraph 3 of the impugned order of the tribunal reads thus: both the ..... [3] => ..... high court has held that the assessee, a company carrying on the business of financing, investment, leasing, etc., which leased out boiler, was entitled to depreciation under section 32 of the it act, 1961, in relation thereto. in deciding this issue the ratio laid down by the hon'ble supreme court in the case of cit v. shaan finance (p) ..... in allowing the guest house expenses. after going through the material available on record, we find that the guest house expense is not an allowable expenditure under section 37(4) of it act.therefore, we set aside the order of the lower authority and restore that of the ao.29. the next ground of appeal is regarding research fee expenses. ..... advertisement came before the madras high court in the assessee's own case for the asst. yr.1984-85. the madras high court, after considering the provisions of section 58a of the companies act and the circular issued by the cbdt m circular no. 240, dt. 17th may, 1978 [(1979) 10 ctr (tlt) 1 : (1979) 117 itr (st) 17] ..... [4] => ..... only provisos were amended to dilute the rigour of procedural aspect.34. we have considered the entire conspectus of the case. as per the prescription of section 43b of the act, deduction for statutory payments pertaining to labour, taxes etc. are to be allowed as deductions, if they are actually paid during the financial year.however ..... issue which is posed before the special bench. the task assigned to this special bench is to point out whether the amendment in proviso to section 43b by finance act, 2003 could be construed to be curative as such retrospective in nature. various benches of the tribunal allowed both the types of claims giving rise ..... of the income-tax appellate tribunal (hereinafter called "the tribunal") has constituted this special bench to consider the following question: whether amendment in proviso to section 43b by finance act, 2003 could be construed to be curative, as such retrospective in nature? 2. we have heard the rival submissions in the light of material placed ..... [5] => ..... . while explaining the provision relating to fringe benefit tax, the cbdt clarified in its answer to question no. 103 that the provisions contained in section 40 of the income tax act for deduction of the amount of fringe benefit tax paid for the purpose of computing the income under the head "profit and gains of business ..... is exhaustive. according to the learned counsel, the assessing officer is empowered to make only adjustments as specified in explanation when the income was computed under section 115ja of the income tax act. the learned counsel for the assessee placed his reliance on the judgment of the apex court in the case of apollo tyres ltd. v. cit . ..... income tax on the assessee. according to the learned d.r., the dividends received by the respective share holders are exempted from taxation under section 10(33) of the income tax act.therefore, the tax paid by the assessee on such profit or dividend which is distributed to the respective share holders is nothing but income tax ..... [6] => ..... changed because of stretching over the period of payment of dues under the scheme.even now, by way of amendment in the provisions of sub-section (10c) of section 10 by the finance act, 2003 with effect from 1-4-2004, the legislature intended to clarify the position that any amount received or receivable by an employee of a ..... retirement. the assessee claimed a sum of rs. 1,75,119, out of such payment being the unavailed amount of vrs, eligible for exemption under section 10(10c) of the act, for the assessment year 2001-02. now before us the question is whether the assessee is entitled to exemption for the second instalment and that also ..... appeal before the commissioner of income-tax (appeals). before the commissioner of income-tax (appeals), the assessee claimed that he is entitled to deduction under section 10(10c) of the act as he has claimed such exemption only in respect of unavailed portion of compensation for which he is eligible. the second instalment of compensation received by the ..... [7] => ..... is a bill of exchange. the parliament in order to define law relating to promissory note, bill of exchange and cheques enacted the negotiable instruments act, 1881. section 6 of the negotiable instruments act 1981 defines "cheque" as follows: a "cheque" is a bill of exchange drawn on a specified banker (sci) and not expressed to ..... be payable otherwise on demand this is the definition given by parliament in the negotiable instruments act 1981. sections 10 and 82 of the negotiable instruments act 1881 clearly say that once the cheque is encashed in the ordinary course, it will discharge the drawer from payment. the supreme ..... to the government banker provided the same was honoured on presentation. this circular issued by the cbdt in exercise of their statutory power under section 119 of the income tax act would be binding on the income tax authorities in preference to any other executive instruction issued by any other authorities. the karnataka high court ..... ) Explosives Act 1884 Section 4 Definitions - Sortby Recent - Court Income Tax Appellate Tribunal Itat Madras - Year 2006 - Judgments | SooperKanoon Skip to content


Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: recent Court: income tax appellate tribunal itat madras Year: 2006 Page 1 of about 8 results (0.103 seconds)

Sep 14 2006 (TRI)

R.M. Valliappan Vs. the Assistant Commissioner

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Sep-14-2006

Reported in : (2006)103ITD63(Chennai)

..... right vested in the stock exchange be disposed of by inviting offers with a minimum floor price of rs. 25,00,000/-. a provisional attachment order under section 281b of the act was issued by the income tax authorities in respect of the membership card in the name of rajesh shah. the supreme court held that under the rules of ..... the rights in the card vested with exchange authorities. therefore, when the member did not have any property in the card, such card could not foe attached under section 281b of the act. similar were the rules so far as mse was concerned. he referred to clause 38 of the articles of association of mse and also article 48(a) ..... court was reversed. the supreme court held that the membership right in question was not the property of the assessee and, therefore, it could not be attached under section 281b of the act. in arriving at this conclusion the supreme court referred to its judgement in the case of vinay bubna v. stock exchange 97 comp. cas 874, in which it .....

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Jul 28 2006 (TRI)

ito Vs. P.C. Ramakrishna (Huf)

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Jul-28-2006

..... of using the words a residential house the words one residential house would have been used therein. it may also be noted that under general clauses act, as per section 13, singular shall include plural and vice versa. reliance placed on the decision of honble supreme court in vegetable products ltd. case to the extent that ..... if the assessee is holding a residential house and on sale of such property, the assessee acquires another property, the assessee is eligible for deduction under section 54 of the act. if the assessee, in the same year sells a residential house and acquires a house property out of such transaction, still the assessee is eligible ..... partition of shri p.c. ramakrishna is perfectly in accordance with the provisions of law and the same should be recognized as a family partition under section 171 of the act.accordingly, he urged the bench to recognize the partition and reverse the orders of the lower authorities.6. the learned departmental representative relied on the orders .....

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Jun 12 2006 (TRI)

Alankar Business Corporation Vs. the Dcit

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Jun-12-2006

Reported in : (2007)105ITD629(Chennai)

..... deducted from wdv. he argued that after introduction of the concept of block of assets, the calculation of short term capital gain has been separately provided in the act under section 50. this section clearly provides that in the case of depreciable assets, the short term capital gain shall be calculated by deducting from the sale value of the consideration (a) ..... gain of rs. 1,88,47,376 by the assessing officer by adding notional breakage and deducted from wdv on an estimated basis without considering the provisions of section 50 of the act. (2) the cit(a) ought to have appreciated and held that the lease compensation charges of rs. 1,84,63,0297- is in the nature of ..... high court in the case of cit v. cherian leasing ltd., which is a very small order and make the situation very clear. this appeal under section 260a of the income tax act has sought to raise various questions purporting to be questions of law, however paragraph 3 of the impugned order of the tribunal reads thus: both the .....

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May 19 2006 (TRI)

Joint Commissioner of Income Tax Vs. Investment Trust of India Ltd.

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : May-19-2006

Reported in : (2006)102ITD135(Chennai)

..... high court has held that the assessee, a company carrying on the business of financing, investment, leasing, etc., which leased out boiler, was entitled to depreciation under section 32 of the it act, 1961, in relation thereto. in deciding this issue the ratio laid down by the hon'ble supreme court in the case of cit v. shaan finance (p) ..... in allowing the guest house expenses. after going through the material available on record, we find that the guest house expense is not an allowable expenditure under section 37(4) of it act.therefore, we set aside the order of the lower authority and restore that of the ao.29. the next ground of appeal is regarding research fee expenses. ..... advertisement came before the madras high court in the assessee's own case for the asst. yr.1984-85. the madras high court, after considering the provisions of section 58a of the companies act and the circular issued by the cbdt m circular no. 240, dt. 17th may, 1978 [(1979) 10 ctr (tlt) 1 : (1979) 117 itr (st) 17] .....

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Mar 16 2006 (TRI)

Kwality Milk Foods Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Mar-16-2006

Reported in : (2006)100ITD199(Chennai)

..... only provisos were amended to dilute the rigour of procedural aspect.34. we have considered the entire conspectus of the case. as per the prescription of section 43b of the act, deduction for statutory payments pertaining to labour, taxes etc. are to be allowed as deductions, if they are actually paid during the financial year.however ..... issue which is posed before the special bench. the task assigned to this special bench is to point out whether the amendment in proviso to section 43b by finance act, 2003 could be construed to be curative as such retrospective in nature. various benches of the tribunal allowed both the types of claims giving rise ..... of the income-tax appellate tribunal (hereinafter called "the tribunal") has constituted this special bench to consider the following question: whether amendment in proviso to section 43b by finance act, 2003 could be construed to be curative, as such retrospective in nature? 2. we have heard the rival submissions in the light of material placed .....

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Mar 10 2006 (TRI)

The Dy. Commissioner of Income Tax Vs. Dhanalakshmi Paper Mills Ltd.

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Mar-10-2006

Reported in : (2007)105ITD123(Chennai)

..... . while explaining the provision relating to fringe benefit tax, the cbdt clarified in its answer to question no. 103 that the provisions contained in section 40 of the income tax act for deduction of the amount of fringe benefit tax paid for the purpose of computing the income under the head "profit and gains of business ..... is exhaustive. according to the learned counsel, the assessing officer is empowered to make only adjustments as specified in explanation when the income was computed under section 115ja of the income tax act. the learned counsel for the assessee placed his reliance on the judgment of the apex court in the case of apollo tyres ltd. v. cit . ..... income tax on the assessee. according to the learned d.r., the dividends received by the respective share holders are exempted from taxation under section 10(33) of the income tax act.therefore, the tax paid by the assessee on such profit or dividend which is distributed to the respective share holders is nothing but income tax .....

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Feb 21 2006 (TRI)

V.G. Ramachandran Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Feb-21-2006

Reported in : (2006)100ITD545(Chennai)

..... changed because of stretching over the period of payment of dues under the scheme.even now, by way of amendment in the provisions of sub-section (10c) of section 10 by the finance act, 2003 with effect from 1-4-2004, the legislature intended to clarify the position that any amount received or receivable by an employee of a ..... retirement. the assessee claimed a sum of rs. 1,75,119, out of such payment being the unavailed amount of vrs, eligible for exemption under section 10(10c) of the act, for the assessment year 2001-02. now before us the question is whether the assessee is entitled to exemption for the second instalment and that also ..... appeal before the commissioner of income-tax (appeals). before the commissioner of income-tax (appeals), the assessee claimed that he is entitled to deduction under section 10(10c) of the act as he has claimed such exemption only in respect of unavailed portion of compensation for which he is eligible. the second instalment of compensation received by the .....

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Jan 20 2006 (TRI)

P.L. Haulwel Trailers Ltd. (Since Vs. the Dy. Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Jan-20-2006

Reported in : (2006)100ITD485(Chennai)

..... is a bill of exchange. the parliament in order to define law relating to promissory note, bill of exchange and cheques enacted the negotiable instruments act, 1881. section 6 of the negotiable instruments act 1981 defines "cheque" as follows: a "cheque" is a bill of exchange drawn on a specified banker (sci) and not expressed to ..... be payable otherwise on demand this is the definition given by parliament in the negotiable instruments act 1981. sections 10 and 82 of the negotiable instruments act 1881 clearly say that once the cheque is encashed in the ordinary course, it will discharge the drawer from payment. the supreme ..... to the government banker provided the same was honoured on presentation. this circular issued by the cbdt in exercise of their statutory power under section 119 of the income tax act would be binding on the income tax authorities in preference to any other executive instruction issued by any other authorities. the karnataka high court .....

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