Judgment Search Results Home > Cases Phrase: finance act 2007 section 47 amendment of section 143 Sorted by: recent Court: income tax appellate tribunal itat pune Page 1 of about 88 results (0.439 seconds)

Shikshan Prasarak Mandali Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

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

..... 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.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 ..... place in the test on which the cit must satisfy himself before granting the approval under section 80g.7. at this stage, we may take note of order dt. 6th aug., 2007 issued by the chief cit-ii pune granting exemption under section 10(23c) to the assessee applicant, from asst. yrs. 2006-07 onwards. this document ..... now, it has established and it runs several educational institutions at different places. when the assessee sought renewal of approval under section 80g, vide application in form 10g received by the cits office on 9th feb., 2007, the assessee was issued a questionnaire calling upon the assessee to furnish certain documents, information and clarification. this requisition was .....

Maharashtra Arogya Mandal Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

..... a co-operative society engaged in the business of banking and, therefore, the investment in the said patsanstha (credit society) is covered by the provision of section 11(5)(iii) of the act. the ao brushed aside this contention and observed that "with due respect to the judgment of the hon'ble madras high court, it may be mentioned that ..... by the ao. he approved the reasoning of the ao and added that patsanstha which is the subject matter of the dispute does not find place under section 11(5)(iii) of the act. he also added that the legislature has used the expression 'cooperative society engaged in carrying on business of banking' in the company of the expression ' ..... with this aspect of the matter for the reasons that we have already held that deposits with patsanstha (credit co-operative society) are eligible investments under section 11(5)(iii) of the act. this aspect of the matter is thus academic in the present situation.12. in the result, all the four appeals are allowed in the manner as .....

U.B. Engineering Ltd. Vs. Jt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)1113ITD577(Pune.)

..... these circumstances cannot be treated as a back door entry. learned am did accept the stand of the revenue that the ao is free either to act under section 147 or to act under section 154 when both the options are available, but he held, when two courses are open, one favourable to the assessee should be adopted. he ..... authorities prevailed over the assessee to avail the kvss benefit on this amount as well. assessee filed rectification petition after prolonged discussion with the revenue authorities. general manager (finance) of the assessee company filed an affidavit, which is evidenced at page 16 of the order of the learned am. assessee submitted, on the basis of clarification ..... member. the hon'ble vice president(mz) shri k.p.t. thangal was appointed third member in this case, and he has, vide order dated 19.09.2007 expressed his view concurring with the learned judicial member. in accordance with the majority view, therefore, the appeal is dismissed. it was so pronounced in the open court .....

Darshan Enterprises Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)113TTJ(Pune.)857

..... levy of penalty under section 271(1)(c) of the act.before proceeding to answer this question we need to examine the provisions of section 44af r/w ss44aa and 44ab of the act.8. it needs to be noted that section 44af was inserted by the finance act, 1997, w.e. ..... rs. 40 lacs in the relevant year. therefore the case was surely covered by the provisions of section 44af of the act.during the survey conducted under section 133a at its business premises it was noticed that the assessee was maintaining books of account and that ..... total 2,90,504------------------------------------------------------------------------------less : set off of losses 2,90,504------------------------------------------------------------------------------ total income nil during a survey conducted under section 133a of the act, at the business premises of the assessee on 28th aug., 2002, it was noticed that the assessee was maintaining regular books .....

Sanghvi Movers P. Ltd. Vs. Dy. C.i.T. Special Range-3

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)110ITD1(Pune.)

..... disallowed.19. the matter be placed now before the regular bench for an appropriate order, in accordance with law.1. by virtue of the provisions contained in section 255(4) of it. act, we differ in opinion on the certain points, therefore, refer the following points to the honourable president, itat, for necessary orders: 1) whether under the ..... 91. the learned dr quoted the decision of hon'ble supreme court in the case of cit v.shaan finance(p.) ltd, and first leasing co, of india ltd. , that case arose under the provisions of section 32a.that section did not contain any express requirement that the assessee must himself use a plant and machinery. the hon'ble ..... assessee was entitled to the claim of depreciation. before concluding, the learned judicial member referred to decision of supreme court in the case of cit v. shaan finance ltd. 231 itr 308 to the effect that where the business of assessee consist of hiring out machinery and where the income is derived by the assessee from the .....

Dhariwal Industries Ltd. Vs. Acit (inv.) and Addl. Cit, Range-1

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)111ITD379(Pune.)

..... finance act ..... section 32a, section 32ab, section 80cc(3)(a)(i), section 80-1(2), section 80j(4) and section ..... finance act ..... act by the finance (no.2) act ..... by the finance act, 2003, ..... section ..... section ..... section ..... section ..... section ..... section ..... section ..... finance ..... section ..... act ..... act ..... section ..... section ..... acts ..... acts ..... act ..... act ..... act was passed, when the act ..... act ..... act ..... act ..... sections ..... act ..... section ..... act ..... act ..... act ..... section ..... section ..... section ..... act ..... act ..... act ..... acts ..... act ..... section ..... section ..... act ..... act ..... act ..... section ..... section ..... act ..... section 2(p) of the act ..... section (2)b section ..... section 80-i of the i-t act ..... section 80-i of the i-t act ..... section 263 of the i-t act ..... section 263 of the i-t act ..... section 80i of the i-t act ..... section 80ia of the income-tax act ..... act. since ..... act ..... section 138 of the negotiable instruments act ..... section 80-1. he contended that the benefit of section ..... section 801 and 80a of the i-t act ..... section 80i{2)(iii) and submitted that the deduction under section ..... section 80-1 of the i-7 act. he submitted that the predecessor of section 80-1 was section ..... section 801 and 80la of the i-t act ..... section 32ab and 80-1 of the i-t act .....

Deputy Commissioner of Income Tax Vs. Finolex Cables Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)114TTJ(Pune.)785

..... lease back, must be considered to be a genuine slb transaction.8.11 it is true that the expln. 4a to section 43(1) inserted by the finance act, 1996 w.e.f 1st oct., 1996 is a recognition of the position that all slb transactions cannot be held to ..... by the buyer in the bills submitted by the assessee. the cit(a) has held that this claim was allowable under section 37 of the act and we see no reason to disagree with him. this ground is accordingly rejected. on the facts and in the circumstances ..... this difference in the figures has to be looked into by the ao and thereafter, allocate the same for the purpose of computation under section 80-1 as suggested hereinabove. with these directions, we hereby restore this ground back to ao to take into account the alternate plea ..... in the statement of total income enclosed with the return, deduction of rs. 7,11,99,318 was claimed under section 80-1 of the act in respect of the urse unit as under: particulars amount (rs) amount (rs) amount (rs) profit as .....

A.C.i.T. and D.C.i.T. Vs. Shri Raghunath B. Taware

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)302ITR136(Pune.)

..... from horse race". for this purpose, one must see the provisions' of section 2(24)(ix), section 56(2)(ib) and section 115bb together. first two provisions have been introduced by the same finance act 1972 section 115bb was introduced by finance act 1986 seeking to replace section 80 tt which was introduced by finance act 1972. in all these sections reference is to same type of income which is referred to ..... sort or gambling or betting of any form or nature whatsoever, which were provided to be charged at a specified flat rate under the provisions of section 115bb(i), which section was also inserted by the finance act, 1986, w.e.f. 01/04/87. the said circular reads as under: (xiii) provisions of a flat rate of tax on winnings from lotteries, crossword ..... of the cit(a) is thus, upheld.in the result, all these three appeals filed by the department are dismissed. the judgment was announced in the court on 31.05.2007. .....

Konkani Bharat Dairy Farm (Aop) Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)113ITD72(Pune.)

..... tribunal observed as under: we have considered the facts of the case and the submissions made before us. in view of the amendment effected by the finance act, 2006, requirement of service of notice under section 143(2) within one year of the filing of the return has been dispensed with in a case of reassessment of income and it has been ..... consequently, the appeals filed by the assessee against this order of the cit(a) in ita no. 624 to 631/pn/06 were dismissed vide our order dated 15.03.2007.7. we, now, proceed to decide the appeals filed by the assessee in ita no. 1173 to 1180/pn/04 against the consolidated order of the cit(a) dated ..... individual income from their dairy business. o that the dairy was situated at one place but there were different identifiable compartments. o that during the survey conducted, under section 133a of the act on 03.08.2000 at the dairy situated at vadala road, nasik the statements of shri peersahib kokani and his son shri zakir p. kokani were recorded. o .....

Manisha Construction Vs. the Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

..... section 158bb(1) of the act inserted by the finance act ..... section 143 or section 144 or section ..... section (1) of section ..... section (1) of section ..... section (1) of section ..... section (1) of section ..... finance act ..... section (1) of section ..... finance act ..... section (1) of section ..... section (1) of section 158bb and sub-section ..... act (section ..... section (2) of section ..... finance act ..... section (1) of section ..... section (1) of section ..... section (1) of section ..... finance act ..... section (1) of section ..... finance act ..... section (2) of section ..... section (1) of section ..... section (1) of section 158bb and sub-section (4) thereof convey the same idea. section ..... section ..... section ..... section ..... section ..... section ..... section ..... section ..... act ..... section ..... section ..... section ..... section ..... sections ..... section 32(2). reading sub-section ..... section ..... act ..... section ..... section i.e. sub-section ..... section ..... section (1) of section 158bb of the act ..... section ..... section ..... section ..... section (1) of section 158bb of the act ..... section 158bb by the finance act ..... section ..... section ..... finance act, 2002 has amended section ..... section ..... section ..... section ..... section ..... section ..... act ..... section ..... section ..... section ..... section .....