Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Court: income tax appellate tribunal itat jodhpur Page 26 of about 252 results (0.838 seconds)

The Income-tax Officer Vs. Joy Exhibitors

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... explained the meaning of 'capital asset' in the following words: we will first consider the first part of the question. capital asset has been defined under section 2(14) of the i.t. act, 1961. "capital asset' means property of any kind held by an assessee, whether or not connected with his business or profession, but does not include ..... appellant had no intention to bring it under cultivation as was clear from the fact of their application to sell it for non-agricultural purposes under section 63 of the bombay agricultural land act. in the background of these facts, the hon'ble court held the land to be non-agricultural. on applying the ratio of this decision ..... the ld. cit(a) for a.y. 1993-94 hence the finding contained therein has become final and accordingly the act of the assessing officer in charging to tax the capital gain on distribution of capital asset under section 45(4) in the year in question was invalid. in the opposition, the ld. departmental representative invited our attention .....

income Tax Officer Vs. Subhash Synthetics

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2003)78TTJ(Jodh.)567

..... quantity of stock. moreover, all sales are realised through demand draft/cheques. therefore, there is no justification in rejection of the books of accounts under the provisions of section 145(2) of the it act. section 145(2) can be invoked where the ao is not satisfied about the correctness of the completeness of the accounts of the assessee, or where no method of ..... cannot be arrived at on the basis of this statement. besides, we also find that the ao had not pointed out any serious defect for invoking the provisions of section 145 of the act and net profit rate declared during the year under appeal is better than net profit rate declared during the immediately preceding two years. therefore, we decline to interfere .....