Judgment Search Results Home > Cases Phrase: finance act 1978 section 19 amendment of section 155 Court: income tax appellate tribunal itat pune Page 12 of about 111 results (0.429 seconds)

Shri Mahavir Nagari Sahakari Pat Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2002)74TTJ(Pune.)793

..... have introduced their black money in some bogus/benami names, the assessee, as, a credit society, should not be punished just because it cannot discharge the burden under section 68 of the act.shri pathak further submitted that apart from the deposits in the year of search, the assessing officer has asked the assessee the list of the depositors in all past ..... cash credit is in the form of share application money, it has been held by the full bench of the delhi high court in the case of cit v. sophia finance ltd. (1994) 205 itr 98 (del) that the onus on the assessee would be discharged, if the identity of the assessee has been proved. the case of a banking concern ..... has been reiterated by the supreme court in cit v. deo prasad vishwa nath prasad (1969) 72 itr 194 (sc), by calcutta high court in shankar industries ltd. v. cit (1978) 114 itr 689 (cal), c. kant & co. v. cit (1980) 126 itr 63 (cal), oriental wire industries (p) ltd. v. cit (1981) 131 itr 688 (cal). he also placed reliance .....

income Tax Officer Vs. Rural Suppliers

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2002)82ITD281(Pune.)

..... ganpatrai and that ladhuram was the 'real man behind the scene and he played the principal part.' the ito accordingly refused to register the firms under section 26a of the it act for the year of assessment 1945-46 and treated the aggregate income of the six firms as assessable in the hands of firm no. i." the ..... partners will have to be decided with reference to the terms of the agreement and all surrounding circumstances, including evidence as to the interlacing or interlocking of management, finance and other incidents of the respective businesses. 3. where it is claimed that there are two partnership firms and not one constituted by the same persons and ..... consisted in dealings in standard cloth supplied by government. it has been found that each of the firms had been considerably financed by the other firm. it is noteworthy that almost the same outside parties had financed the aforesaid firms, namely, i to vi. on analysing the trading account of the various firms it is found that .....

Nirmiti Construction Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2005)95TTJ(Pune.)1117

..... plot was taken at 28,284 sq. mt. there is no dispute that during the assessment year under consideration, the assessee claimed the deduction under section 80-ib(10) of the act. section 80-ib(10), as applicable to the relevant period, reads as under : "80-ib.(1) where the gross total income of an assessee ..... the permission of construction on 23rd july, 1999. in our view, the activities, viz., approval of the plan, marketing for booking the residential units, availing of finance, receipt of advance booking money, etc., could not be construed to mean commencement of development and construction of housing project. as per the certificate of architect, the ..... july, 1999. it was also submitted by the assessee that approval of the plan, printing of project brochure, marketing for booking the residential units, availing of finance, receipt of advance booking money, etc., could not be constituted to mean commencement of development and construction of the housing project. the assessee also furnished a .....

Smt. Rajabai B. Kadam L/H of Late Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2002)83ITD229(Pune.)

..... declared is nil." since the legal heir could not produce any evidence with reference to the money recovered from the assessee, the same was treated as deemed income under section 69a of it act, 1961, and accordingly, the same was assessed to tax by the ao vide order dt. 7th july, 1997.3. the matter was carried before the cit(a) before ..... she purchased some other land on 27th nov., 1968, against consideration of rs. 25,902. the explanation of the assessee regarding the source of money was that the same was financed from out of savings from the income of the properties which were left by her mother's first husband. this explanation was not accepted by the ao and the first ..... and by no stretch of imagination, could the assessee be credited with having that income in the course of assessment year. the tribunal also took the view that section 69 of the act conferred only a discretion on the ao and it did not make it mandatory on his part to deal with investment as income of the assessee as soon .....

Shikshan Prasarak Mandali Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)117TTJ(Pune.)337

..... .6. a plain look at the provisions of section 80g of the it act, r/w rule 11aa of the it rules, thus makes it clear that the decision on whether to grant ..... force in any part of india or under section 25 of the companies act, 1956 or is a university established by law, or is any other educational institution recognized by the government or by the university established by law, or affiliated to any university established by law, or is an institution financed wholly or in part by the government or a local authority .....

Finolex Pipes Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

..... income springing from the industrial undertaking but nevertheless it should be regarded as diminution in expenditure incurred by the said industrial undertaking, especially in the matter of finance charges. the learned departmental representative relied upon the orders of the authorities below.25. we have heard the rival submissions and perused the facts on record. ..... the ao the above noted items of income emanated out of non-manufacturing activities and accordingly not eligible for consideration for deduction under s. 80-i of the act. on appeal, the cit(a) concurred with the findings of the ao.24. shri b. k. khare, the learned counsel for the assessee submitted that ..... expenditure. same may please be allowed. if it is ultimately decided claim is not allowable revenue expenditure, deduction may please be allowed under s. 35d of the it act. 5. in view of the facts and the circumstances of the case assessee-company is submits that deduction under s. 80hhc calculated on deemed exports also. .....

Goa, Daman and Diu Industrial Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1986)15ITD447(Pune.)

..... of land. section 29 of the gida enables the state government to ..... of the gida deals with general powers. section 16 of the gida enables the state government to issue directions as to policy.section 17 to 23 of the gida deal with finance, accounts, audit, etc., section 27 of the gida clarifies that land may be acquired as if for a public purpose by invoking land acquisition act, 1894. section 28 of the gida deals with disposal .....

Joshi and Sahney Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1992)42ITD122(Pune.)

..... satisfied at all in this case. it is open to the assessee to claim investment allowance after the amendment made by finance act, 1980 with effect from 1-4-1976 in sub-section (ii) of section 4 of 32a of the income tax act, 1961 and as per requirement of law. further, it is not known as to where the micro-computer is installed. ..... though it could not be called as an office appliance, nonetheless, according to second proviso to section 32a(1) no deduction shall be allowed ..... under section 32a(1), if the micro-computer is installed .....

Executive Engineer Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1994)48ITD414(Pune.)

..... (statute) page 239, which is reproduced for the sake of convenience: so far different forms were prescribed under rule 31 for certificates of tax deducted under different sections of the act. by notification no. s.o. 937 (e), dated 10-10-1988 however, old rule 31 has been substituted by a new rule which provided for a unified ..... persons deducting tax under different provisions are required to apply for allotment of tax deduction account number (tan) within the prescribed time. these provisions were inserted by the finance acter, 1987 with effect from 1-6-1987. the tan is required to be quoted by tax deductor on all challans for paying the tax deducted to the ..... 200 per day during which the failure continued. there was no upper limit prescribed for these penalties but finance (no. 2) acter, 1991 effective from 1-10-1p91 prescribed that the penalty leviable for failure in relation to return under section 206 was not to exceed the amount of tax deductible. no upper limit however, is yet provided .....

Mirje Family Trust Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)73ITD27(Pune.)

..... the appellant-trust is a discretionary trust in view of certain provisions of the trust deed read with expln. 1 inserted w.e.f. 1st april, 1980 by the finance (no. 2) act, 1980, in s.164. the learned accountant member held that the action of the cit in directing the ao to treat the appellant as a discretionary trust and to ..... i.e. trustees who are liable as representative assessees in respect of income consisting of or including profits and gains of business. the provisions of s. 161 being a charging section, there is no option to the ao to tax the beneficiaries and as pointed out above, the ao never exercised the option. the ao is bound to complete the assessment ..... trust governed by the provisions of the trust deed executed on or about 2nd august, 1976. there was no income assessable for asst. yr. 1977-78. assessments for asst. yr. 1978-79 and 1979-80 were completed as if the shares are determinate in the hands of the beneficiaries. for the asst. yr. 1980-81, the ao processed the return on .....