Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Feb-08-2005
Reported in : (2005)60SCL59NULL
..... a variety of items, very diverse in character, such as ships, vehicles, books, scientific apparatus and surgical equipment, used for the purpose of business or profession. the finance act, 1995 amended the definition with retrospective effect from 1-4-1962 to state that the work 'plant' does not include tea bushes or live stock. the very fact ..... with fishermen for collection of fish during the monsoon season may not be taken as a first step towards setting up of business, at least from august 15, 1970, when the assessee acquired a godown where the processing of marine products could start when fish became available after the monsoon, it can be said that that ..... . the tribunal was, therefore, right in concurring with the view of the appellate assistant commissioner that the expenditure incurred by the assessee after august 15, 1970, and before october 6, 1970, when collection of fish was to actually start, can be treated to be business expenditure and would get covered under section 37 of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jun-17-2005
Reported in : (2005)96TTJ(Kol.)1041
..... , india of the dividends (including dividends on preference shares) payable out of such income in accordance with the provisions of section 194 of the act." thus, even under the finance act the domestic company is recognized as indian company and any other company having made arrangement for declaration of dividends payable on such income. we, therefore ..... for that financial year. 195a. where, under an agreement or other arrangement, the tax chargeable on any income referred to in the foregoing provisions of this chapter is to be borne by the person by whom the income is payable, then, for the purposes of deduction of tax under those provisions, such income ..... ltd. (1960) 39 tax cases 509, concerning uk anti-avoidance legislation conflicting with the earlier irish double tax avoidance agreement and woodend rubber co. v. cir (1970) 2 wlr 10, concerning discriminatory legislation in ceylon (sri lanka) conflicting with the earlier uk-ceylon treaty." 63. in the light of the above position of law .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Feb-08-2005
Reported in : (2005)94ITD89(Kol.)
..... include a variety of items, very diverse in character such as ships, vehicles, books, scientific apparatus and surgical equipment, used for the purpose of business or profession. the finance act, 1995, amended the definition with retrospective effect from 1st april, 1962 to state that the word 'plant' does not include tea bushes or live stock. the very fact ..... with fishermen for collection of fish during the monsoon season may not be taken as a first step towards setting up of business, at least from 15th aug., 1970, when the assessee acquired a godown where the processing of marine products could start when fish became available after the monsoon, it can be said that was the ..... such business. the tribunal was, therefore, right in concurring with the view of the aac that the expenditure incurred by the assessee after 15th aug., 1970, and before 6th oct., 1970, when collection of fish was to actually start, can be treated to be business expenditure and would get covered under section 37 of the .....
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