Judgment Search Results Home > Cases Phrase: finance act 1968 section 38 amendment of act 1 of 1944 Court: income tax appellate tribunal itat jaipur Page 3 of about 22 results (0.089 seconds)

Deputy Commissioner of Vs. Prajapita Brahma Kumaris

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1999)71ITD169(JP.)

..... 1n that case the assessee institution was being run with a. profit motive. the following observation appear at page 615- "it is true that by reason of the finance act, 1983, the question as to whether any charitable institution is being run with a profit motive or not has lost its relevance. however, the word "charitable" prefixing ..... reproduced here as under:- "on the facts and in the circumstances of the case the id. commissioner (appeals) has erred- (i) in holding that in section 10(22) of the act, the word 'educational institution' need not take its colour from the word 'university' and thereby reversing the principle of 'ejusdem-generis' applied by the assessing officer ..... educational purposes and it should not be existing for the purpose of profit.it will also be useful at this stage to note the provisions of section 10(22) of the act."section 10. in computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included .....

Deputy Commissioner of Income Tax Vs. Prajapita Brahma Kumaris

Court : Income Tax Appellate Tribunal ITAT Jaipur

..... case the assessee institution was being run with a profit motive. the following observation appear at p. 615 of 208 itr - "it is true that by reason of the finance act, 1983, the question as to whether any charitable institution is being run with a profit motive or not has lost its relevance. however, the word "charitable" prefixing the word ..... purposes and it should not be existing for the purpose of profit. it will also be useful at this stage to note the provisions of s. 10(22) of the act. "sec. 10. in computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included - (22) any ..... which are used for purchasing immovable assets as well as movable assets. the ao further noted in his order that assessee also running three hostels for children of weaker section, children of the staff members and devotees and expenses made on them were on very lower side whereas the receipts shown are on a very higher side because assessee .....

Ashok Kumar Kataria Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2002)75TTJ(JP.)392

..... jaipur, has accepted the said disclosures of shri ashok kataria huf and his wife, smt. saroj devi kataria to be a valid disclosures and issued certificates under section 68(2) of the finance act, 1997, on 9-3-1998, and 20-3-1998, respectively. the valuation reports of jewellery disclosures were also filed along with the disclosure made by the ..... 's wife has also made a disclosure of 545.950 gms. of gold jewellery under vdis for which the commissioner, jaipur, has issued a certificate under section 68(2) of the finance act, 1997, on 20-3-1998. the department has neither revoked the said certificate, nor cancelled any of the wealth-tax assessment, for which the said smt ..... the hands of the assessee's wife smt. saroj devi. the same by no stretch of imagination can form part of the undisclosed income as defined under section 168b(b) of the act. hence, the commissioner (appeals) is found to have committed an error in upholding the action of the assessing officer. accordingly, the addition of rs. 1 .....

Triveni Pharma Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2005)92ITD125(JP.)

..... learned judicial member did not agree with the above view of the learned accountant member. he noted provisions of section 145 of the income-tax act as amended by the finance act, 1995 with effect from 1-4-1997 and quoted three sub-sections. thereafter took note of notification no. so 69(e), dated 25th january, 1996 notifying application of accounting ..... the learned cit(a) as also by the learned am in the proposed order. how else the assessee was required to challenge application of provision of section 145(3) of the act in the. circumstances discussed above and in the light of material available on record, the books of account in my view could not be rejected ..... to be resolved by one or more members of the tribunal as may be nominated by the hon'ble president, income-tax appellate tribunal in terms of section 255(4) of the act. also there is a difference in questions amongst the members. accordingly, the following questions of difference are referred: question per shri b.r. jain, accountant .....

Mewar Motors Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

..... tax liability of rs. 10,29,293 which was paid before the due date in view of the provisions of s. 43b, as it stood before the amendment by the finance act, 1987, cannot be upheld. in our view, the order of the ao allowing this claim of unpaid sales-tax liability of the assessee was not erroneous and prejudicial to ..... which was outstanding as on 31st march, 1987, but paid on 31st july, 1987, in total disregard of the provisions of s. 43b as it stood before the amendment by finance act, 1987, which provided disallowance of such liability.3. a show cause notice was issued on 4th aug., 1994, and was served on the assessee on 9th aug., 1994, fixing ..... (raj) (supra), (1987) 163 itr 194 and (1987) 167 itr 395 (raj) to the effect that the interest liability, as provided under s. 11b of the rajasthan sales-tax act, 1954, is an allowable expenditure, is well established principle. however, we find that the above decisions were rendered before introduction of s. 43b.in the case reported in (1986) 160 .....

Mewar Motors Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)56TTJ(JP.)118

..... tax liability of rs. 10,29,293 which was paid before the due date in view of the provisions of s. 43b, as it stood before the amendment by the finance act, 1987, cannot be upheld. in our view, the order of the ao allowing this claim of unpaid sales-tax liability of the assessee was not erroneous and prejudicial to ..... which was outstanding as on 31st march, 1987, but paid on 31st july, 1987, in total disregard of the provisions of s. 43b as it stood before the amendment by finance act, 1987, which provided disallowance of such liability.3. a show cause notice was issued on 4th aug., 1994, and was served on the assessee on 9th aug., 1994, fixing ..... (raj) (supra), (1987) 163 itr 194 and (1987) 167 itr 395 (raj) to the effect that the interest liability, as provided under s. 11b of the rajasthan sales-tax act, 1954, is an allowable expenditure, is well established principle. however, we find that the above decisions were rendered before introduction of s. 43b.in the case reported in (1986) 160 .....

Karingji Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1993)45ITD551(JP.)

..... respectively. section 44ac makes special provision for computing profits and gains from the business of trading in certain specified goods, under the head ..... and pithasaria at page 1916 and submitted that the language of section 44ac (3) was quite clear and unambiguous. it was contended that the virus has also been upheld in the cited cases and, therefore, the order under appeal called for no interference.5. sections 44ac and 206c were inserted by finance act, 1988 w.e.f.1-4-1989 and 1-6-1988 .....

Bank of Rajasthan Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1999)68ITD69(JP.)

..... expenses.12. the provisions of s. 37(3a) are very clear and unambiguous. these provisions were introduced by the finance act, 1983 w.e.f. 1st april, 1984, and withdrawn w.e.f. 1st april, 1986. sec. 37(3b) referred all the expenditure on this account which says that advertisement, publicity, sales promotion, running and maintenance ..... on a correct footing. it is stated that the appellant is a scheduled bank to which the provisions of banking regulations act, 1949, are applicable and its main business is banking business, finance business, shares and securities business which was being carrying on for the last several years and also accepted by the department. ..... proceedings before any it authority or the tribunal or any court relating to the determination of any liability under this act, by way of tax, penalty or interest : provided that no deduction under this section shall, in any case, exceed in the aggregate five thousand rupees." according to this provision any expenditure on account .....

Assistant Commissioner of Income Vs. Smt. Radha Rani

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2006)101TTJ(JP.)1017

..... the assessee has argued that the search in the present case was carried on 7th april, 2000, i.e., prior to 1st june, 2002. finance act, 2002 had brought an amendment in section 113 and surcharge was levied on block assessment from prospective effect and not from retrospective effect which further clarifies the intention of law-makers that surcharge ..... seized during the course of search. 2. the learned cit(a) has erred in law and fact while deleting the surcharge levied as the finance act clearly laid down that surcharge is leviable on rate prescribed under section 113 of the act. the section 113 prescribes rate for block period only. the rates for block period would be governed by charging ..... section 4 of the act, which says that rates prescribed under central act would be applicable to income of previous year.2. in ground no. 1, the revenue has objected to the deletion of additions of rs. 1,20, .....

Krishi Upaj Mandi Samiti Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

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

..... and consequently, the revenue never called the assessee for filing of the return of income since the date of its establishment. but, after insertion of the explanation to section 10(20) by the finance act, 2002, with effect from april 1, 2003, the assessee was called for to file the same for the first time for the assessment year 2003-04. ultimately, ..... jurisdictional high court in the case of narayan harishankar v. state [1977] rlw 485 has been pleased to hold the markets act to be meant for public purposes and the hon'ble madras high court in the case [1968] ilr 2 mad 449 also held the similar statute and the committees working thereunder to be for public purposes. in the case ..... of kewal krishan puri v. state of punjab , the hon'ble supreme court has been pleased to hold the object of the act is for supervision and control of the .....