Judgment Search Results Home > Cases Phrase: finance act 1978 section 2 income tax Court: income tax appellate tribunal itat west bengal Page 2 of about 51 results (0.182 seconds)

iol Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Reported in : (2003)81TTJCal525

..... also subsidies are given as a matter of course for carrying on welfare activities. the intention behind the introduction of section 40a(9) is something different and that has been made out in the memorandum explaining the provisions of the finance act, 1984 [(1984) 146 itr 165 st]. in view of the aforesaid i hold that no disallowance can be ..... made under section 40a(9) and the amount of rs. 11,200 is therefore, deleted. 19. after hearing both the parties on ..... the assessee had disputed the order of learned cit(a) is not allowing the claim for deduction of rs. 5,000 under clause (i) of sub-section (2) of section 37 of the act on account of entertainment expenditure incurred by the assessee.6.1 learned cit(a) confirmed the order of ao in not allowing minimum entertainment expenditure of rs .....

Jaldacca Tea Plantations Private Vs. State of West Bengal and ors.

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... the constitution.reference has been made by mr. saha, in this connection, to the provisions in the proviso to section 20(1) of the bengal finance (sales tax) act, 1941, and the proviso to section 12(1) of the west bengal sales tax act, 1954, reference has also been made by mr. saha, the learned advocate for the applicants, to the ..... of the appellant to comply with either requirement, the appellate authority was competent to dismiss the appeal, though dismissal of such appeal was not expressly provided for in section 129 of the customs act. in the case of vijay prakash d. mehta v. collector of customs (preventive) [1989] 175 itr 540 ; air 1988 sc 2010, it was held, ..... ." this interpretation of article 14 was also followed in the case of maneha gandhi v. union of india, air 1978 sc 597 ; [1978] 1 scc 248. in the case of maneha gandhi, it was observed (at page 624 of air 1978 sc) : "article 14 strikes at arbitrariness in state action and ensures fairness and equality of treatment. the principle .....

Jay Shree Tea and Industries Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... material in this behalf has been produced before us. on perusal of the assessee's submission during the course of proceedings under section 263 also we do not find any specific details of any interconnection, interlacing and interdependence prevailing between the discontinued unit of the ..... on one activity without reference to the other activity. even though the test of unity of control was established as the finances and control were from the head office of the company, the new business undertaken by the assessee could not be taken ..... are of the view that the decision of the supreme court in b.r. ltd. v. v.p. gupta, cit [1978] 113 itr 647, can be taken as an authority only for the proposition that merely because the assessee carries on various lines of ..... the deduction was available to that assessee-company only on portion attributable to income liable to tax under the income-tax act.12. during the course of hearing before us, the learned counsel of the assessee has placed heavy reliance on the .....

A. Sadasivam Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

Reported in : (2002)255ITR1Cal

..... the explanation of the assessee was not accepted and the amount of rs. 1.5 lakhs was treated as undisclosed investment for the block period under section 69b of the act.19. on the other hand, the learned departmental representative has submitted that the assessee failed to produce any evidence in support of his contention that ..... before the assessing officer that original four persons were not available and they were already paid the amount taken by the assessee. regarding the persons who re-financed by letter dated september 2, 1997, the assessee had given the names and addresses of the persons to the assessing officer. thereafter, the assessing officer came ..... were being maintained by sri t. s.venkataswamy, sri gopalan and sri narayan dadlani. subsequently, the present assessee, i.e., sri a. sadasivam, as vice president (finance), came in place of sri j. gopalan. according to the statement of sri shyam lotheria, the appellant, sri sadasivam, sri t. s. venkatesan and sri srinivasan were .....

Deputy Commissioner of Vs. Chloride Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... investment/deposit.17. he also submitted that investment deposit account scheme was introduced through the finance act, 1986 with a view to substitute the existing provision of investment allowance contained in section 32a of the act. he submitted that the object of section 32ab was actually earning profit in order to be eligible for deduction. he mentioned that ..... of the export of goods outside india, all the businesses taken together shall comprise one composite business and the provisions of clause (b) of sub-section (3) of section 80hhc of the act shall only apply and not partly clause (a) and partly clause (b). the clause (a) relates to the business consisting exclusively of the ..... on by the assessee since long time. he mentioned the ratio laid down by the hon'ble supreme court in b.r. ltd. v. v.p.gupta, cit[1978] 113 itr 647, 654 where it was laid down certain parameter for deciding whether two activities constitute same business or different business, namely - (a) presence of common .....

Deputy Commissioner of Income Tax Vs. Chloride Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... profit of more than investment/deposit.21. he also submitted that investment deposit account scheme was introduced through the finance act, 1986, with a view to substitute the existing provision of investment allowance contained in s. 32a of the act. he submitted that the object of s. 32ab was actually earning profits in order to be eligible for ..... reference to the profits of the new industrial undertaking in a backward area and the computation of profit of such new undertaking is relevant for the purpose of that section only. on the other hand, the benefit under s. 80hhc is related to the profit earned by the export.13. on the other hand, the learned ..... manufacturing of batteries carried on by the assessee since long time. he mentioned the ratio laid down by the hon'ble supreme court in b.r. ltd. vs. cit (1978) 113 itr 647 (sc) where it was laid down certain parameters for deciding whether two activities constitute same business or different business, namely - (a) presence of common .....

Woodcraft Products Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... instincts, such institutions were held to be for wholly charitable purpose as they were not confined to any particular religious community.9. taking us through explanation 3 to section 80g, shri bajoria pointed out that mere reference to religion was not sufficient to bring the case within the purview of explanation 3. explanation 3, on the ..... purpose. lastly, shri bajoria has referred to the following observations of the gujarat high court in the case of cit v. swastik textile trading co. (p.) ltd. [1978] 113 itr 852 : "held, that clause 4(g) should be viewed in the context of the entire charitable object of advancement of education, medical relief, helping the blind ..... of the 1961 act up to and including the assessment year 1979-80 though it was stated that no certificate under section 80g had yet been granted to the trust within his knowledge.11. the departmental representative then referred to the memo explaining the provisions in the finance (no. 2) bill, 1965, as a result of which .....

Deputy Commissioner of Income Tax Vs. I.C.i (India) Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Reported in : (2004)268ITR129Cal

..... . there is no scope for bringing in the requirement of actual payment for claiming additional liability under the provisions of section 43a as it exist during the year. this is fully evidenced by the substitution of the existing section 43a by the finance act, 2002, w.e.f. 1st april, 2003.9. even in the case of revenue expenditure the question of ..... to be upheld or not ?" 2. the facts are that the assessee claimed rs. 56,15,081 as deprecation on exchange fluctuation capitalized during the year under section 43 a of the it act. the ao disallowed the claim in the light of the order for the earlier years.3. on appeal, the learned cit(a) allowed the claim in the ..... in the exchange rate is to be upheld or not ?" 1. there being a difference of opinion between the members, the following question was referred to me under section 255(4) of the act : "whether, on the facts and in the circumstances of the case, the order of the cit(a) directing to allow depreciation on the additional liability arising .....

ifb Agro Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Reported in : (2003)261ITR17Cal

..... in chloride india ltd.'s case (supra) was before the introduction of the definition of the term "total turnover" by way of expln. (ba) below section 80hhc(4a) by the finance act, 1991 with retrospective effect from 1st april, 1987, whereas the other two decisions are after that insertion and upon considering the amendment and taking divergent views.8. ..... to excise authorities or to the state exchequer. reference of the earlier decision of the supreme court in the case of hindustan sugar mills v. state of rajasthan air 1978 sc 1496, 1499 was made of the following observations : "the test is, what is the consideration passing from the purchaser to the dealer for the sale of the ..... it was held that excise duty and sales-tax are not part of the total turnover for the purposes of computing export profit within the meaning of section 80hhc(3) of the it act, 1961.25. in view of the aforesaid discussion, we are of the opinion that though "total turnover" may include the receipts of excise duty and .....

Eveready Industries India Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... during the year on account of specific debts considered irrecoverable amounting to rs. 14,10,444 having failed to appreciate that the same is allowable under section 37 of the act or alternatively under section 28 of the act." rs. 14,10,444 was debited to profit and loss a/c, towards provision for doubtful debts and credited to the bad debts reserve account ..... the cit (appeals).90. vide ground no. 10, assessee-company contends that the cit(a) erred in confirming the dcit's action for levy of interest under section 139(8) of the act. interest under section 139(8) was charged from 1-7-1985 to 30-11-1985 @ 15% on rs. 2,03,76,722. it was contended before the first appellate ..... (supra), vijaya laxmi sugar mills ltd v. cit [1991] 191 itr 641 (sc); binani printers (p.) ltd v. cit [i983] 143 itr 338 (cal.); ritz continental hotels ltd. v. cit [1978] 114 itr 554 (cal); associated cement co. ltd. v. cit [1997] 221 itr 215 (bom.); chinai & co. (p.) ltd. v. ot [1994] 206 itr 616 (bom.); cit v. mahadoo .....