Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: mumbai Page 75 of about 1,733 results (0.073 seconds)

income-tax Officer Vs. Abbott Laboratories (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1989)31ITD183(Mum.)

..... the department took us through the historical background of the provisions brought on the statute right from 1963 by the finance act, 1963 onwards to impress upon us that in order to claim exclusion under section 40a(5)(b)(i) of the act the employment/posting of an employee should be outside india. he also referred to the meaning of the word " employment ..... 1. he, therefore, urged that the cit(a) was not justified in deviating from the earlier order of the tribunal in the assessee's own . case for the assessment year 1978-79. he also pointed out that the permission of the reserve bank of india is required in the case of a foreign trip/tour undertaken by an employee employed in ..... cit(a), the revenue came up in appeal before the tribunal. the revenue, relying on the order of the tribunal in the assessee's own case for the assessment year 1978-79 (ita nos. 1017 and 1689/bom/1982, dated 15-7-1983), contended that the order of the cit(a) on this point should be reversed. the assessee, on the .....

Gurdayal Berlia Charitable Trust Vs. Fifth Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1990)34ITD489(Mum.)

..... section (5). this condition is to be found in clause (b) of sub-section (2) which as it stands today, was introduced by the finance act, 1983, which became effective from 1-4-1983. the same finance act introduced sub-section (5) which prescribes the forms and modes of investing and depositing moneys accumulated by the trust which are referred to in clause ..... us copies of the assessment orders for the assessment years 1981-82 to 1983-84, wherein before the insertion of sub-section (5) of section 11 of the act (by the finance act, 1983 with effect from 1-4-1983), the ito himself had granted exemption to the assessee under section 11 of the ..... lose the exemption under section 11 and the entire income would be taxed without allowing deduction for object expenses. the shares were purchased by the assessee somewhere in may 1978. later dated 27-11-1986 on assessee's behalf is discussed as follows: the assessee claim is that the relevant income from the investments which contravene the provision of .....

B.M. Rele Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)44ITD231(Mum.)

..... by any person who has not furnished under sub-section (1), or (2), at any time, before the assessment was made. this was the position prior to amendment by the finance act, 1968 inserted with effect from 1st april, 1968. under the new provision, an assessee may, before the assessment is made, furnish the return before the specified period under clause (b ..... the two years from the end of the assessment year. the assessee could have filed and did actually file the returns before the issue of notices under section 148 in 1978 even after the expiry of the said period of two years. he, therefore, submitted that the assessee having failed to show reasonable cause for the late filing of the ..... plea that he was under a bona fide belief that he was not liable to file the returns cannot be accepted. the assessee himself filed the returns on 1-3-1978 for the assessment years 1969-70 to 1976-77 and in the year 1980 for the assessment years 1977-78 to 1979-80 showing positive income. this fact, according .....

B. Tex Corporation Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)46ITD61(Mum.)

..... burden. when the assessee failed to prove by satisfactory evidence the fact of its having borrowed amounts from the creditors and the capacity of those creditors to finance such loans, it could not be said to have discharged its burden. in these circumstances, the revenue authorities were not unjustified in coming to the conclusion that ..... its income. the bombay high court, as rightly pointed out on behalf of the department by shri keshav prasad, held in western automobiles (i) v. cit [1978] 112 itr 1048 that, where the cash credits are discovered in the accounts and the assessee accepts the amounts as his income for the year in question, that ..... since the respondent, after making attempts, could not produce the parties, the income-tax officer, on its request, issued summonses under section 151 of the income-tax act, 1961, to the creditors, which however were returned unserved with the remark 'left'. the tribunal further found that the creditors, while being assessed, had admitted that they .....

Dy. Cit Vs. Sarabhai Piramal

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... . in the case of cit v.anglo french drug co. (eastern) ltd. , their lordships have held that to fall within the definition of "industrial company" in the relevant finance act and be entitled to the rebate of income-tax, it is not necessary that company must manufacture the goods by itself own plant and machinery at its own factory. if ..... business if he gets the products manufactured or processed by some other agency. the object of the introduction of these provisions can be gathered from the budgetary speech of the finance minister reported at 152 itr (st.) 76 and the notes on clauses reported at 152 itr (st.) 138 at page 142 in which it has been made clear ..... the product mark and house mark will appear side by side on all the labels, cartoons etc. in the case of indo-french pharmaceutical co. v. union of india 1978 elt 478 (mad) the learned judge of the madras high court while construing tariff item 14e, observed that, a close reading of the explanations however in my view indicates .....

income-tax Officer Vs. Hukumchand Mills Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1985)12ITD201(Mum.)

..... be entitled to relief under section 80g even in respect of donations made in kind such as a kiln, a lathe and medicines. the amendment made by the finance act, 1976, in section 80g by inserting explanation 5 to that section would be applicable only from the assessment year 1976-77 and as such is not applicable for ..... in 1970. the commissioner then examined the question whether the relinquishment necessitated any reconveyance as discussed in paragraph no. 5 of the order of the tribunal dated 27-10-1978. the commissioner (appeals) held since the original deed was in the name of the association, there was no necessity of any reconveyance. he pointed out that the assessee ..... of the aac and restored the matter to the aac for fresh disposal in accordance with law after ascertaining the full and appropriate facts, by the order dated 27-10-1978, in it appeal no. 128 (bom.) of 1977-78.7. thereafter, the commissioner (appeals) decided the matter afresh and held in favour of the assessee. in .....

Echjay Industries (P.) Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1988)26ITD259(Mum.)

..... 136 itr 361 which had followed the madras high court in aruna sugars ltd.'s case (supra). we find that sub-section (5) was inserted in section 37 by the finance act, 1983 with restrospective effect from 1-4-1979. the language of the section is applicable for the year under appeal before, us, i.e., assessment year 1981-82. in ..... . the other two appeals are therefore dismissed for non-prosecution.29. in the result, appeal for assessment year 1981-82 is allowed in part and those for assessment years 1978-79 and 1979-80 are dismissed.1. i agree with the view of the learned brother (accountant member).however, regarding the assessee's claim for deduction of an amount ..... quantum of the total income determined.27. in the result, the appeal for the assessment year 1981-82 is allowed in part.28. the appeals for the assessment years 1978-79 and 1979-80 were not pressed. shri harish made a statement to that effect at the commencement of the proceedings. he argued only the appeal for the assessment year .....

income-tax Officer Vs. Jotumal T. Thawani

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1991)36ITD1(Mum.)

..... t. thawani as financier and up & delhi territory as security, on the facts and in the circumstances of the case, gives rise to reasonable inference of the existence of financing by the assessee other than admitted in the name of shri devidas j.thawani & others since, the financier for this set of papers is shown shri jotumal t. thawani - ..... on the basis of lab letter. on careful consideration, we find that the respect of this item, addition of rs. 9 lacs cannot be sustained in assessment year 1978-79. first and foremost thing is that producer's letter dated 1st sept., 1977 to the processing laboratory m/s. the famous cine laboratory does not bear acceptance or ..... originally assessment in the case of the assessee was framed under section 143(3) of the income-tax act, 1961 on 22-9-1978 and the assessment order reads as under:- 'return declaring total income at rs. 80,900 was filed on 31-7-1978. the assessee attended and waived notice under section 143(2). the sources of income declared are (1 .....

Rajas R. Doshi Vs. Eighth Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1994)48ITD77(Mum.)

..... residence, when the tenant dies, whether the death has occurred before or after the commencement of the bombay rents, hotel and lodging house rates control (amendment) act, 1978, any member of the tenant's family residing with the tenant at the time of his death, or, in the absence of such member, any heir of ..... before the competent authority so that the authority could exercise its mind to acquire the property. the competent authority did not initiate any proceedings under chapter xx-a of the income-tax act, which showed that the competent authority was satisfied that the apparent consideration shown in the document was real and, therefore, it could not ..... into existence between the company and the assessee and all the consequences of the bombay rent control act have to follow.50. another important aspect, which, in my opinion, is relevant is the submission of form no. 37ee. chapter xx-a provides for acquisition of immovable properties in certain cases of transfer to counteract evasion of .....

Jitendra R. Shroff Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)59ITD494(Mum.)

..... the report of the audit obtained under s. 44ab." he explained that so far as the first defect enumerated by the cit was concerned, this cl. (bb) was introduced by finance act, 1988, w.e.f.1st april, 1989, and hence, when the ao completed the assessment on 20th july, 1987, there was no such requirement under the law and hence, the ..... departmental representative emphasised that in view of the decisions in several cases such as gee vee enterprises vs. addl.cit (1975) 99 itr 375 (del), addl. cit vs. mukur corporation (1978) 111 itr 312 (guj), it was not necessary for the cit to come to a firm conclusion about the errors and if in his opinion there was only a prima ..... the effect that the order was erroneous because the ao had not charged interest under s. 215 or s. 217 of the it act, was not tenable because as per the decision in the case of cit vs. manda theatre (1978) 115 itr 301 (kar) if the ao did not charge interest under s. 217, no such order existed and could not form .....