Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Court: income tax appellate tribunal itat chandigarh Page 9 of about 506 results (0.224 seconds)

Deputy Commissioner of Vs. United Vanaspati Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)88ITD313(Chd.)

..... ghee is subject to strict supervision and checking by central excise authorities. the accounts of the appellant company, are also audited as per provisions of companies act and section 44ab of the act and correctness of the declared production is supported by excise records.28. the income-tax appellate tribunal "special bench" in the case of shanker rice ..... income-tax appellate tribunal, 'a' bench, chandigarh have differed and, therefore, refer the following point of difference to the hon'ble president under section 255(4) of the income-tax act for appropriate action so that the appeal may be disposed of. whether on the facts and in the circumstances of the case, trading addition of ..... delhi high court in the case of cit v. motor general finance ltd. [2002] 254 itr 449' in which it was held. ". . . as the assessee could not produce any document in this regard, an adverse inference in terms of section 114 of the evidence act should be drawn to the effect that had those documents been produced .....

D.C.i.T. Vs. Avery Cycle Inds.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)89ITD497(Chd.)

..... this is accepted by the kerala high court in the case of cit v. apollo tyres, 237 itr 706. one such minor change introduced by the finance (no. 2) act, 1996 is that section, itself now provides that method of depreciation and the rate of depreciation shall be the same as adopted for preparing p&l account laid before the company ..... the ao in making impugned adjustment was in accordance with the provisions of i.t. act, 1961. we may mention that the provisions of section 115 ja ware inserted by the finance (no. 2) act, 1996 wef 1.4.1997. these are deeming provisions of the act which provide for alternative minimum tax on companies, who are having book profits and paying ..... method of depreciation should be the same as adopted in the p&l account prepared in accordance with parts ii & iii of schedule vi of companies act. but the provisions of section 115 ja are more specific and stipulate that the method of rate of depreciation adopted by the assessee shall be the same as adopted for preparing p .....

The Dcit, Spl. Range Vs. United Vanaspati Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)275ITR124(Chd.)

..... ghee is subject to strict supervision and checking by central excise authorities. the accounts of the appellant company are also audited as per provisions of companies act and section 44ab of the act and correctness of the declared production is supported by excise records.28. the income-tax appellate tribunal "special bench" in the case of shanker rice ..... by the tribunal, and added rs. 32,053/- to the income disclosed by the assessee. the appellate assistant commissioner, on appeal, confirmed the applicability of the proviso to section 13 but reduced the addition to rs. 15,000. the appeal to the tribunal was dismissed. on a reference: held, (1) that the method of accounting adopted ..... down by delhi high court in the case of cit v. motor general finance ltd 254 itr 449, in which it was held " as the assessee could not produce any document in this regard an adverse inference in terms of section 114 of the evidence act should be drawn to the effect that had those documents been produced the .....

Asstt. Cit Vs. Amolak Ram Jerath

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... inability as the assessee was over 80 years of age and further requiring fortnight's time to produce all the records. the dcit framed assessment under section 158bc(c) read with section 158bd and section 144 of the act on 31-8-2000 computing the undisclosed income at rs. 1,77,280 and tax @ 60% amounting to rs. 1,06,368 upon the ..... unearthed during search.nitin p. shah v. dy.cit c (2005) 276 itr 411 in that case, lts group was engaged in the business of financing and acting as a private bank. in 1996, a search operation was conducted at the premises of the group and certain loose papers were recovered wherein the name of the assessee with ..... of joint cit v. latika v. wqman (2005) 1 sot 535 (mum.).reliance was placed on the decision pronounced in the case of madhavi invest (p.) ltd. v. asstt cit (2006) 99 ttj (visakha) 933, wherein on the issue of computation of undisclosed income and scope and ambit of block assessment, it was held that the same is limited to material .....

Chief Electoral Officer, Haryana Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1999)68ITD439(Chd.)

..... or telecasting, carriage of goods and passengers by any mode of transport other than by railways and catering. obviously, the purpose of the definition, as inserted by the finance act, 1995 w.e.f. 1st july, 1995, is to set aside the effect of various judgments mentioned above. the said definition is, however, inclusive and the ordinary ..... the object was to collect tax @ 2% on income comprised in the payment made to contractors and that s. 194c was not a charging section. he referred to the budget speech of the finance minister, reproduced in (1972) 83 itr 208 (st), wherein the last paragraph hon'ble minister mentioned that, "i hope, this alliance between ..... carried out through a contractor under a contract including the obtaining of supply of labour under a contract with a contractor for carrying out any work and that the said section was not confined or restricted in its application to 1works contracts'. (b) chamber of income-tax consultants & ors. vs. cbdt & ors. (1994) 209 itr 660 (bom .....

Anil Aggarwal Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)90TTJ(Chd.)946

..... aggarwal & sons made a declaration under vdis vide his letter dated 26-12-1997, addressed to learned commissioner, which reads as under: sub : declaration under section 65(1) of the finance act, 1997, in r/o m/s. inder sain aggarwal & sons, huf, c/o new gulmarg hotel, shimla.enclosed please find a duly filled in ..... was neither erroneous nor prejudicial to interests of revenue and viewing the issue in the total circumstances, no action under section 263 stood attracted.2. that enclosure to declaration under vdis 1997 filed under section 65(1) of the finance act, 1997, having fully explained that a ledger (annex. a-13) noticed and seized from h. no. 81/ ..... 28a, chandigarh (residence of sh. anil aggarwal appellant), on 19-10-1994, during search under section 132 pertained to huf, inder sain aggarwal & sons, .....

C.S. Tiwana and Sons (Huf) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1986)15ITD42(Chd.)

..... statute, neither a word is to be ignored nor a comma is to be added, when one comes to interpretation. once we observe that introduction of section 171(9) which was inserted by finance (no. 2) act with effect from 1-4-1980, partition for the purpose of enquiry, recognition and order had to be 'complete partition', on the one hand, and ..... the relevant 'previous year' ended on 31-3-1981.4. the ito rejected the assessee's claim on the basis of section 171(9), which came on the statute with effect from 1-4-1980 inserted by the finance (no. 2) act, 1980, as per which no partial partition which had taken place after 31-12-1978 was capable of recognition. the ..... taken place and any finding recorded under sub-section (3) to that effect whether before or after the 18th day of june, 1980, being the date of introduction of the finance (no. 2) bill, 1980, shall be null and void ; (b) such family shall continue to be liable to be assessed under this act as if no such partial partition had taken .....

Chandigarh Golf Club Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)106TTJ(Chd.)1096

..... to the very date of creation of the trust or institution. as a matter of fact, by the amendment of the proviso below clause (a) of section 12a by the finance (no. 2) act, 1991, w.e.f. 1st oct., 1991, it is not made clear by the legislature itself that where condonation is granted and the trust is registered ..... in detail, found that the additional ground was not admissible as it involved investigation of facts not on record.however, the tribunal vide its order dt. 11th may, 2006 has clarified that its discussion should not be considered as decision on merits with regard to the additional ground preferred by the assessee. therefore, the reliance by the learned ..... raised by the assessee.15. replying to the pleas of the learned departmental representative, the learned counsel further submitted that the tribunal vide its order dt. 11th may, 2006 has clarified that the views expressed in paras 10 of its order would not come in the way of the assessee with regard to the merits of the case .....

Chandigarh Golf Club Vs. Ito, Ward 2(1), Chandigarh

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)8SOT788(Chd.)

..... registration to the very date of creation of the trust or institution.as a matter of fact, by the amendment of the proviso below clause (a) of section 12a by the finance (no. 2) act, 199 1, with effect from 1-10-1991, it is not made clear by the legislature itself that where condonation is granted and the trust is ..... in detail, found that the additional ground was' not admissible as it involved investigation of facts not on record. however, the tribunal vide its order dated 11-5-2006 has clarified that its discussion should not be considered as decision on merits with regard to the additional ground preferred by the assessee. therefore, the reliance by the learned ..... of appeal raised by the assessee." replying to the pleas of the learned departmental representative the learned counsel further submitted that the tribunal vide its order dated 11-5-2006 has clarified that the views expressed in para 10 of its order would not come in the way of the assessee with regard to the merits of the case .....

Roshan Lal Madan Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1998)67ITD33(Chd.)

..... an explanation was inserted at the end of sub-section (1) of section 271 in order to cast on the assessee the burden of proving that the omission to disclose true income did not arise from any fraud or gross or wilful neglect.inadequacy of the explanation added by the finance act led to the substitution by the taxation laws ..... (amendment) act, 1975 of four explanations. explanation 1, ..... provision in support thereof. the department has obviously invoked the deeming fiction u/ss. 69, 69a, 69b and 69c. the basic parameters for invoking the said sections are that the assessee offers no explanation or the explanation offered is not satisfactory.the failure of the assessee to furnish a satisfactory explanation for the possession of .....