Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: recent Court: income tax appellate tribunal itat Year: 2006 Page 1 of about 332 results (0.083 seconds)

Gulf Oil Corporation Ltd. Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2008)111ITD124(Hyd.)

..... dated 21.9.2005 for assessment year 2002-03.2. the first issue relates to the computation of book profits under section 115jb of the income-tax act, 1961(the act). the assessee company is engaged in the manufacture of detonators, industrial explosives and its accessories. it returned total loss of rs. 34,27,39,176 for the year under consideration. since the ..... of rs. 3,62,005 on account of delayed payment of provident fund; (c) disallowance of rs. 9,34,455 on account of sales-tax payment under section 43b of the act.8. after hearing the parties, so far as the first item is concerned, it is not disputed that the entire payment was made before the end of the ..... also does not help the revenue as it merely says that sometimes, appropriation account is included as a separate section of the profit & loss account. but, as we have seen earlier, parts-ii and iii of schedule-vi to the companies act do not speak of appropriation account at all. in the light of this discussion, we are convinced that .....

Nutan Warehousing Co. (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2007)106TTJ(Pune.)137

..... arises.46. in the case of khan carpets v. cit it was held by the allahabad high court that 'reasonableness' within the meaning of sub-section (2) of section 40a of the act was to be determined after taking into account the legitimate needs of the business or profession of the assessee and the 'fair market value of the services ..... films only in godowns constructed strictly in conformity with the specifications laid down in the said rules and in a place to be approved by the chief inspector of explosives, government of india. a place at mahim in mumbai was approved and the assessee company, after purchasing a plot of land there, constructed 13 units thereon, 12 ..... 4, is whether the lease rent and the warehousing charges received by the assessee are to be assessed under the head 'income from house property' under section 22 of the act. the annual value of property consisting of any buildings or land appurtenant thereto of which the assessee is the owner, other than such portions of such property .....

Amitabh Bachchan Corpn. Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... machinery ltd. (supra)), the question was allowallibility of expenditure on technical know-how for five years. at page 688, the hon'ble delhi high court held that section 37(1) of the act requires that the expenditure should not be of a capital nature. the court held, the question whether a particular expenditure is revenue, incurred for the purpose of business ..... and spread over a period of sixteen years.31. the learned dr further relied upon the decision of the hon'ble calcutta high court in the case of indian explosives ltd v. cit wherein expenditure for constructing a building on land taken or licence for a period of ten years with an option for renewal for another ten years, ..... , shri y.p. trivedi and shri v.h. patil. according to them, this is to be treated as revenue expenditure and claimed to be allowable under section 37(l) of the act.8. assessing officer rejected assessec's claim on the basis of the decision of the hon'ble supreme court in the case of empire jute co.ltd. v .....

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 .....

Dy. Cit, 3(1) Vs. Sri K.S.N. Enterprises P. Ltd.,

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)105ITD375(Hyd.)

..... business was not given, no part of the compensation money was received by the assessee on condition not to carry on competitive business in explosives. consequently no part thereof was exempted from the income-tax act. in cit v. bombay burman trading corporation [1986] 161 itr 386 (sc), the issue before their lordship was what should be the ..... as per the ld. dept.representative is that the receipt in question is compensation in connection with termination of agency, for which reliance has been placed on section 28(ii). section 28(ii) as it stood for the impugned assessment year reads as follows: the following income shall be chargeable to income-tax under the head "profits and ..... of the first appellate authority at paragraph 8 on page 11 of his order that the receipt in question does not fall within the ken of section 28(ii) of the act. thus, the receipt in question was for restrictive covenant inasmuch as the assessee had carried on the business in soft drinks and had established a .....

Bajaj Auto Finance Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2007)112TTJ(Pune.)437

..... and engg. co. v. cit observed as under: the assessee which is a private limited company, is a distinct assessable entity as per the definition of "person" under section 2(31) of the act. therefore, it cannot be stated that when the vehicles are used by the directors, "even if they are personally used by the directors" the vehicles are used for ..... of allotment was finalized on 28th may, 1995. in connection with the public issue a sum of rs. 2,55,07,817 was incurred which was claimed under section 37(1) of the act. the details are as under:9. other expenses 9,19,338 total 2,55,07,817 11. during the assessment proceeding before the ao, the assessee madfe an ..... -off of a capital expefiditure against a revenue receipt. the total income of an assessee is chargeable to tax under section 4 and the total income has to be computed in accordance with the provisions of the act. sec. 14 of the act lays down that for the purpose of computation, income of an assessee has to be classified under five heads: 14 .....

Udan Research and Flying Vs. Joint Cit, Special Range-2

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... ,24,544; and(&) disallowance of deduction of rs. 34,771 under section 35d of the act, for amortization of preliminary expenses.3. as regards the main quantum addition, the assessing officer disallowed depreciation on aircraft on the ground that the lease agreement under ..... be acceptable in the course of assessment of income but that certainly by itself does not make claim liable to be visited with penalty under section 271(1)(c) of the act. the second limb of the related quantum addition is somewhat consequential in nature because once the claim of aircraft being part of assets is to ..... justified in upholding penalty of rs. 13,56,000 on the assessee. the relevant assessment year is 1993-94 and the impugned penalty was imposed under section 271(1)(c) of the income tax act, 1961.2. the quantum additions, on the basis of which impugned penalty is imposed, consist of (a) disallowance of depreciation of rs. 23 .....

Delhi Race Club (1940) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)108TTJ(Delhi)297

..... the assessee against the order of the cit(a) dt. 9th june, 2003 for the asst. yr. 2001-02, in the matter of order passed under section 201 and section 201(1a) of the it act, 1961, wherein following two grounds have been raised by the assessee: (1) that the cit(a) without appreciating the facts of the case and on incorrect ..... the order of the lower authorities and submitted that ao was justified in deducting tax at source on the gross amount of prize amount as per provisions of section 194bb of the it act, 1961.7. we have considered the rival contentions, carefully gone through the orders of the authorities below and also deliberated upon the case laws cited by ..... for arriving at the figure qualifying for deduction of tax at source. whereas the contention of the department is that person responsible to deduct tax at source under section 194bb of the act is not required to look into the amount spent on purchase of ticket in a horse race. therefore, on the gross amount of winning, the tax .....

Krishi Upaj Mandi Samiti Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2008)299ITR94(JP.)

..... with the prior approval of the government, any other purpose connected with agricultural marketing.17. the applicant-samiti works through a committee constituted under section 7 of the markets act which consists of 15 members elected directly or indirectly by the inhabitants of the area, i.e., 7 by agriculturists, 2 by traders, 2 ..... tribunal have allowed the applications for condonation of delay and directed the learned commissioner of income-tax to allow the applications for registration under section 12a(a) of the act. on the application for condonation of delay, the learned authorised representative submitted that earlier, the assessee-samiti was considered to be a 'local ..... and sub-market yard, etc. thereof were declared by the notification dated october 30, 1965. the applicant-samiti works through a committee constituted under section 7 of the markets act, which consists of 15 members elected directly or indirectly by the inhabitants of the area, i.e., 7 by agriculturists, 2 by traders, .....