Judgment Search Results Home > Cases Phrase: explosives act 1884 section 4 definitions Sorted by: recent Court: income tax appellate tribunal itat Year: 2006 Page 4 of about 332 results (1.888 seconds)

income Tax Officer Vs. Rajendra Kumar Taparia

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2007)106TTJ(Jodh.)712

..... even ask for any evidence, in this regard, any further, for that matter. that is why unlimited powers have been given by the precincts of this section and other sections of this act to ascertain the veracity of a fact.49. in a nutshell, it can be stated that the ao has to find out as to whether the deposit/ ..... as to form a material whole. therefore, loose sheets or scraps of papers cannot be termed as "book" because they can easily be detached and replaced. section 34 of the evidence act, 1872 provides that entries in books of accounts, which are regularly kept and maintained in the ordinary course of business, are relevant, whenever they refer to a ..... the hon'ble apex court. to understand the requirements of the law to prove the genuinenity of a cash credit, we would reproduce the section 68 of the it act, 1961 (hereinafter referred to as 'the act' for short).sec. 68 : "where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers .....

Shri Hiralal Lokchandani Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Cuttack

Reported in : (2007)106ITD45Ctk

..... asset at one point of time and as a capital asset at another point of time. the date of acquisition of the land for the purposes of section 48 read with section 49(2) of the act was the date when the land in question was acquired by the grandfather of the assessee prior to 1941. the assessee, therefore, had the option, either ..... he has not confused the entire issue as contended by the appellant in his grounds of appeal. i) the a.o. has correctly applied the provision of section 45 to 55 of the act and has not erred in computing the capital gains as has been alleged in the grounds of appeal. ii) there is no scope for misinterpretation of meaning of ..... for the assessment year 1998-99.2. the division bench hearing this case had made a reference to the hon'ble president i.t.a.t. under section 255(3) of the income tax act, 1961 for consideration of special bench. accordingly, the hon'ble president, i.t.a.t. was pleased to constitute special bench of three members to consider the .....

Fidelity Textiles (P) Ltd. Vs. the Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chennai

..... the present assessee's case. finally, the ld. accountant member was of the opinion that the waiver of loan amount cannot be treated as casual income under section 10(3) of the act and therefore, he set aside the orders of the authorities below and deleted the addition in question by following the decision of the bombay high court in ..... is inclusive. he, therefore, treated the amount in question as a revenue receipt and accordingly brought it to tax after granting exemption of rs. 5,000/- under section 10(3) of the it. act, 1961.6. before the ld. cit(a) the same contentions were reiterated on behalf of the assessee and the same decisions were pressed into service.however, the ..... late mr. d.a. butler dated 26.6.2000 and submitted that the waiver of loan by a foreign shareholder cannot be taxed under the provisions of section 41(1) of the act. it was contended that it was not a case of recoupment in subsequent years of losses or expenditure allowed in an earlier year from the recovery of .....

The Asstt. Commissioner of Vs. Alembic Glass Industries Limited

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)111ITD320(Ahd.)

..... in consequence of such an order passed by the court. that was done under section 240 of the act. it cannot be disputed that income-tax, penalty and interest collected became refundable to the assessee. whenever refund of any amount becomes due to the assessee and it ..... upheld the order of the tribunal by observing as under: it is common ground that the amount collected by the revenue included also interest levied and collected under section 220 of the act. the amounts became refundable to the assessee as a result of the order passed by the supreme court. the refund of the amounts was made to the assessee ..... is in the case of cit v. ambat echukutty menon) 173 itr 581 (ker). in this case for assessment years 1961-62 toi 1963- 64 interest under section 220 of the act was levied and collected from the assessee as he failed to comply with the notices issued in pursuance of the decision of the supreme court, the amounts become .....

ito Vs. Jagdish Chandra Virmani

Court : Income Tax Appellate Tribunal ITAT Delhi

..... construction of complex was his business expenditure and the same being of revenue nature, he was entitled for deduction in respect of the same under section 37 of the act even to the extent it was to be treated as unexplained. this submission made by the assessee however, was not found acceptable by the assessing ..... filed by him originally might be treated as the returns filed in compliance to the notices issued under section 148 of the act. during the course of reassessment proceedings, the value of cost of construction determined by the valuation officer was strongly challenged by the assessee on ..... of construction as escapement of assessees income from the assessments for the relevant years, the assessing officer initiated reassessment proceedings by issuing notices under section 148 of the income tax act for the said years. in response to the said notices, a reply was filed by the assessee in writing stating therein that the returns .....

Hotel Naveen Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

..... 3 that conversion of partnership assets into individual assets on dissolution or otherwise also forms part of the same scheme of tax avoidance. accordingly finance act, 1987 inserted section 45(4) in the act. the effect of it is that profits and gains arising from transfer of capital assets by a firm to a partner on dissolution or otherwise ..... firm shall be chargeable to tax". thus the intention of the legislature is clear from the wordings of the sub-section and it is not required for amending definition of transfer contained in section 2(47) of the act. the assessing officer was also of the view that it was not necessary that all assets should be divided ..... assessing officer did not accept the arguments of the assessee that the definition contained for transfer in section 2(47) has not undergone change after insertion of section 45(4) in the act. according to him the definition of transfer given in section 2(47) is an inclusive one and not exhaustive. the other reason stated by him is .....

Shri Raghav Bahl Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)111ITD174(Delhi)

..... was passed by the dy. commissioner of income-tax, central circle -iii, new delhi (hereinafter called the assessing officer) under the provisions of section 15 8bc read with section 15 8bd of the income-tax act, 1961.the assessee has taken up four substantive grounds of appeal, the fifth being residuary in nature. ground nos. 1 and 2 are ..... cit(appeals) considered the facts of the case and submissions made before him. he referred to the definition of the term "undisclosed income" given in section 15 8b(b) of the act, and pointed out that income or property which has not been or would not have been disclosed, wholly or partly, constitutes the udi. he further ..... fall within the ambit of the definition of the term "undisclosed income", furnished in section 158(b) of the act.before proceeding with the argument, it may be pointed out that this section, regarding the definition of udi, is similar to section 5 of the act regarding "scope of total income" in content in so far as the scope of .....

P.N. Writer and Co. Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... per cent which is attributable to normal profits of its packaging and forwarding business. the balance will be treated as profits eligible for deduction under section 80-o of the act. we are required to do this exercise because we do not accept the plea of the assessee that the entire profits are eligible for ..... trademark enables him to charge that higher fee and the higher fee is attributable to the registered trademark.20. while taking us through section 80-o of the act he emphasized that the section nowhere requires that the registered trademark should have been necessarily registered in india. the learned commissioner (appeals) has unnecessarily emphasized on the point ..... in consonance to rule 8of itat rules, they are argumentative and descriptive in nature. the sale grievance of assessee relates to denial of deduction under section 80-o of the act.2. the learned first appellate authority has noticed the facts in a very lucid and exhaustive manner from para 5 of the order, thus .....

Abishek Developers Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2007)110TTJ(Bang.)698

..... the payment could be deemed to be in default, the ito must determine the tax only on the appropriate proportion of income chargeable under the act. there is no prohibition in section 201 of the act. in the fact of the ito's own acquiescence that in respect of erection charges paid to the other companies, the net profit could not ..... assuming without admitting, that the payments were liable for deduction of tax at source, the learned cit(a)-iv has erred in confirming the applicability of provisions of section 195a of the it act in determining the amount of tax to be deducted at source. (j) in view of the above and on other grounds to be adduced at the time of ..... the assessee is in appeal before us. the assessee has raised the following grounds: (a) the learned ao had erred in passing the order under section 201 r/w section 201(1a) of the it act in the manner passed and the learned cit(a) has erred in confirming the same. the lower authorities have erred in not appreciating the facts of the .....

Rama Associates Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)106TTJ(Delhi)448

..... we are, therefore, inclined to modify the direction of cit and direct the ao to determine the annual letting value of property as per provisions of section 23 of the act, ao is further directed for not making any addition on account of interest at 12.5 per cent on the interest-free security deposit given to the ..... . we, are therefore, inclined to agree with the contention of learned cit (departmental representative) shri satbir singh that cit has correctly invoked the provisions of section 263 of the act in respect of non computation of annual letting value of delhi property which has escaped by the ao in his assessment order, thereby failing to apply provisions ..... , the assessee has itself agreed that a mistake had crept into the assessment order in not taxing the notional interest on security deposit. (e) provisions of section 263 of the it act, 1961 in terms had no application to the facts of this case. (f) various observations made by the learned cit in the impugned order are either .....