Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1982)1ITD1044(Ahd.)
..... business. the principle laid down in the decision of the bombay high court came up for consideration before the bombay high court in the case of cit v. estate & finance ltd. [1978] 111 itr 119 and in that decision the principle laid in sahu rubbers (supra) was not followed. while dealing with the latter decision, it is ..... there is no income from business either actual or deemed or notional and the claim for unabsorbed depreciation is made. in brooke bond & co. ltd. v. cit [1970] 77 itr 220 (cal.) it was held that the question of allowance of unabsorbed depreciation would only arise when there was a computation of business income under section 10 ..... heard the appeal originally, referred the matter to the president for constituting a special bench which was so constituted under section 255(3) of the income-tax act, 1961 ("the act"). these appeals, therefore, have come up for hearing before this special bench.2. these appeals involve an interesting and complex point of law though the facts which .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1985)11ITD245(Ahd.)
..... , has to be taken into consideration. in order to nullify the effect of this decision, an amendment was made with effect from 1-4-1974 under the finance act, 1973 (section 12) that the amount of dividend actually distributed within the said period of 12 months should only be deducted from the distributable income. in light of the ..... therefore, necessary to apply the tests as are applicable in penalty proceedings. shri patel relied on the decisions of the supreme court in the case of cit v. anwar ah [1970] 76 itr 696 and in the case of hindustan steel ltd. v. state of orissa [1972] 83 itr 26. the burden of shri patel's argument was that provisions ..... assessee, challenging the decision of the commissioner (appeals) to uphold the action of the ito to impose additional tax under the provisions of section 104 of the income-tax act, 1961 ('the act'). the ito, on the basis of the gross total income determined by him, levied additional tax of rs. 18,907 on the basis of the following particulars:gross .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1995)55ITD300(Ahd.)
..... be applied in such facts and circumstances is section 45(3) which came into force w.e.f. ay 1988-89.newly inserted section 45(3) by the finance act, 1987 has been made effective from 1-4-1988 which will be applicable for ay 1988-89 and onwards. those provisions cannot be made applicable with retrospective effect in ..... accepted such a transaction as transfer within the meaning of section 2(47), is not valid and acceptable in law. the provisions of section 230a appear in the chapter relating to collection and recovery and the provision has been inserted with a view to ensure recovery of existing tax liability. it does not in any manner support the ..... the case of sunil siddharthbhai (supra). he further submitted that the provisions of section 230a are not charging section. it is a provision which appears under the chapter relating to collection and recovery.the mere fact that an application for grant of certificate under section 230a was furnished, cannot amount to acceptance by the assessee that .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2002)75TTJ(Ahd.)898
..... balance-sheet of the lender company which has been filed along with the paper book does not establish that the lender company is also engaged in the business of financing at all, much less the substantial income is derived from the business of money-lending. therefore, this additional ground of appeal does not qualify for admission. ..... 1979) 118 itr 60 (mad) where this principle has been elaborated. the decision of the bombay high court in the case of cit v. p.k. badiani (1970) 76 itr 369 (bom) at 376/377 is also relevant.the other possible adjustments for purposes of working out the profit upto the date of advancement of loan are ..... learned departmental representative, no scope for liberal interpretation. according to the learned departmental representative, the law is to be interpreted as per the plain language used in the act unless there is any ambiguity about it. according to the learned departmental representative, the decision of the hon'ble supreme court in the case of v. damodaran .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2006)100ITD143(Ahd.)
..... 1999, such intimation may be sent at any time up to the 31st day of march, 2002.the above section is substituted with effect from 1-6-1999 by finance act, 1999. the analysis of the section is as under: it enacts that where a return has been made under section 139, or in response to a notice under ..... it was held by hon'ble supreme court that penalty proceedings do not fall within the ambit of section 245e of the act and the commission exceeded its jurisdiction in dropping penalty proceedings for assessment years 1970-71 to 1974-75 while deciding settlement application for assessment year 1975-76 and further assuming that section 147 was available to ..... no court/ authority can allow something indirectly which cannot be allowed directly. the remedy for assessee may be lying some where else and not under section 154 of the act. the assessee could have filed a revised return of income to claim higher depreciation which assessee did not choose to adopt. having not done so, he cannot seek any .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1988)27ITD252(Ahd.)
..... and is earned in india shall be deemed to accrue or arise in india. the explanation which was inserted to clause (ii) of section. 9(1) by the finance act, 1983 with retrospective effect from 1-4-1979 clearly states that income of the nature referred to in the above clause payable for services rendered in india shall be regarded ..... that stands involved in all these cases is whether the income-tax officer was justified in passing an order under section 163(1)(c) of the i.t. act, 1961 ('the act'), appointing the appellant as a statutory agent of certain foreign technicians. for narrating the circumstances under which this question has arisen, we take the case of mr ..... section 2(24) and explained in the explanation to clause (ii) of section 9(1) of the act would qualify for computation of total income of an assessee in accordance with the provisions of chapter iii. we may observe that chapter iii enumerates such incomes which are not required to form part of total income of an assessee. the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2004)82TTJ(Ahd.)456
..... the same and charged to tax at the rates applicable to the ordinary income of the non-resident as specified in the relevant finance act. (ii) consideration which will be chargeable to tax in the hands of the recipient under the head "salaries"." 13. it ..... , be relevant here to reproduce the definition of "fees for technical services" given in expln. 2 to section 9(1)(vii) of the act : "explanation 2 : for the purposes of this clause, "fees for technical services" means any consideration (including any lump sum consideration) for ..... of the assessee as per the provisions of the act.the said tax can also be deducted at source in accordance with the provisions of section 190 of the act and as provided under chapter xvii of the act. the said amount is to be deducted by ..... way of tax by the person who has to make payment to the concerned person (payee) and as per the provisions of section 199 of the act such .....
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