Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)21ITD198(Delhi)
..... inserted, by the finance act, 1981 with effect from 1-4-1981, section 21aa. ..... x(7), new delhi, the assessee pointed out that in good faith and without knowing the exact position under the act returns relating to the assessment years 1970-71 to 1975-76 were filed in response to notice under section 17 and the assessee also paid tax under section 15b of the act on the basis of the returns as per challan for the first five years dated 19-5-1975 and for the last year ..... aac, who relying upon the judgments cited and the submissions made before him came to the conclusion that an aop does not come within the ambit of the word 'individual' used in section 3 and, therefore, the wto was wrong in bringing the assessee to tax for the assessment years under appeal. ..... mammed kayi [1981] 129 itr 307, the word 'individual' mentioned in section 3 of the act took in its ambit the boi and as such the assessee was liable to ..... in this judgment, the hon'ble court held that the expression 'individual' occurring in section 3 will include within its scope a plurality of individuals or bois forming a single collective unit knit together by ties of common aims and joint interest without any profit motive but ..... would be seen that the observations of the court that the term 'individual' in section 3 includes 'body of individuals' were in specific reference to consideration of extending the provisions of the act for charging tax from mappilla maru makkathyam tarwads. ..... the wto to amend the assessments accordingly. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)21ITD214(Delhi)
..... had not done so, it is to be appreciated that when this company gave guarantee to the government of india for the payment of all taxes due under the direct taxes acts and the government allowed the non-resident to leave, the company stepped into his shoes to meet any liability accruing and arising to the government of india on behalf of ..... this statute itself provides in section 246(1)(c) of the act that any asses see aggrieved by orders of an ito may appeal to the aac/commissioner (appeals), "where the assessee denies his liability to be assessed under this act or any order of assessment under sub-section (3) of section 143 or section 144, where the assessee objects to the amount of income assessed, or to the amount of tax determined, or to the amount of loss computed, or to ..... foreign technician was approved by the government of india, ministry of finance, new delhi vide their letter dated 3-3-1981 in terms of section 10(6)(viia) of the income-tax act, 1961 ('the act'). ..... of this return, the ito issued notice under section 143(2) of the act, dated 25-2-1984 in the name of the secretary ..... section 249 of the act provides form of appeal and limitation.sub-section (1) ibid, requires that every appeal under this chapter shall be in the prescribed form and verified in the prescribed manner.rules 45 and 46 of the income-tax rules, ..... the meaning and the ambit of the word 'assessee' defined in section 2(7) of the act. ..... section 163(2) of the act ..... clearance certificate under section 230 of the act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)21ITD401(Delhi)
..... these facts therefore, clearly establish that for the purposes of the claim of depreciation under section 32 the truck in question could neither be said to have been used nor to have been kept ready for use for the purposes of the assessee's business during the assessment year in question. ..... section 123 of the motor vehicles act, 1939 makes the contravention of section 22, punishable.it would not be right to say that the motor vehicles act, 1939 does not prohibit the plying of the truck absolutely. ..... section 22 of the motor vehicle act, 1939 clearly enjoins that no person shall drive any motor vehicle and no owner of a motor vehicle shall cause or permit the vehicle to be driven in any public place or in any other place for the purpose of carrying ..... the requirements of section 32 have to be satisfied before the claim of depreciation can be allowed. ..... sri shashi bhushan gupta, the learned counsel for the assessee referring to the provisions of section 32. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)21ITD524(Delhi)
..... when that is so, it is also clear that the deduction of the excise duty and import duty even on the closing stock was allowable in the accounting year 1983, but because of the specific language of section 43b of the act which has an overriding effect, it could not have been claimed by way of deduction unless payment thereof was made and here, in this case, it is not the case of the respondent that the payment of the said ..... section 43b of the income-tax act, 1961 was brought on the statute book by the finance act, 1983 w.e.f. ..... at the time when it becomes due and/or the assessee would be liable to pay the same and not on the actual payment of tax or duty, but as per the newly added provision of section 43b of the act, it would be allowable only in computing the income referred to in section 28 of the previous year in which the sum is actually paid by the assessee irrespective of the previous year in which the liability to pay such tax was incurred by the assessee according ..... shelat, the learned advocate appearing for the respondent, submits that the words "otherwise allowable" used in section 43b of the act would mean that it would not be allowable for the assessment year 1984-85. ..... at the hearing before us the learned counsel for the assessee contended that section 43b is a special provision which overrides all other provisions of the act and, therefore, the amounts of customs and excise duties paid by the assessee had to be allowed in full in the year of payment. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)23ITD115(Delhi)
..... it is on these facts that we have to determine whe-ther the income earned by iraqi airways is the income of iraqi government and whether such income would be immune from taxation under the indian income-tax act.whereas the basic stand of the department is that iraqi airways is an independent under-taking of the government of iraq and it should be treated as a statutory corporation, the plea of the assessee has been that it is a part of ..... supra) what was held was that where notices are found to be the basis of proceeding under section 147 of the act and were held wholly invalid, the assessee could not be assessed in pursuance of such notices. ..... he pointed out that in the latest finance bill a percentage of 5 have been fixed for the purpose of determining the income of the airlines but that too could not be applicable for the years ..... above case it was observed by the delhi high court that the transformed principles of international law after the enactment of the code have no application in india unless the legislature amends the statutory provision. ..... against three sets of orders passed by the commissioner of income-tax (appeals), one relating to the assessment years 1970-71, 1971-72, 1972-73 and 1973-74, second relating to 1974-75, 1975-76, 1976-77, 1977-78 and 1979-80 and third relating to 1980-81 and 1981-82. ..... to be administered by a board of administration wholly manned by the director general of civil aviation and the representatives from the ministry of finance and communications. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD139(Delhi)
..... contended before the ito that for the purposes of capital gain, jewellery was not a capital asset till the amendment of section 2(14) of the income-tax act by the finance act, 1972 w.e.f. ..... ) applies to this case as agricultural land became capital assets only from 1-4-1970 by virtue of amendment of section 2(14)(iii) of the income-tax act.4. ..... it is, therefore, apparent that the only condition which must be satisfied in order to attract the charge to tax under section 45 is that the property transferred must be capital asset at the date of transfer and it is not necessary that it should have been capital asset also at the date of acquisition by ..... the argument of the assessee was that the words 'capital asset' in section 48, clause (ii), must have the meaning given in the definition of 'capital asset' in section 2(14) and, therefore, section 48, clause (ii), must be construed as referring to the cost of acquisition of the property as a ..... justification which could be put forward on behalf of the assessee for reading the section in this manner was that the legislature could not have intended that the appreciation in value which took place whilst the property was non-capital asset should be subjected to tax which would be the inevitable result if we read the section as referring to the cost to which the assessee was put in acquiring the ..... only condition for attracting the charge to tax which is laid down in section 45 is that the property transferred must be capital asset at the date .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD88(Delhi)
..... it was noted by the cit (appeals) that on receipt of recommendation of the specified authority the ministry of finance made a declaration to the following certificate under section 72a of the income-tax act: certificate under section 72a(2)(ii) of the income-tax act, 1961 (43 of 1961) the central government, on the recommendation of the specified authority, has made a declaration ..... -section (2) of section 72a the accumulated loss can be set off and carried forward if the amalgamated company furnishes along with its return of income for the relevant assessment ..... (b) "specified authority" means such authority as the central government may, by notification in official gazette, specify for the purposes of this section; (c) "unabsorbed depreciation" means so much of the allowance for depreciation of the amalgamating company which remains to be allowed and which would have been allowed to the amalgamating company under the provisions of this act if the amalgamation had not been effected the inspecting assistant commissioner (assessment) noted that under sub ..... before this the ministry of finance, department of revenue had issued a declaration under section 72a(1) of the income-tax act as follows:- amalgamation of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD545(Delhi)
..... however, where an assessee raises the plea that his income is exempt or his income is not taxable under any provision of the income-tax act, and, therefore, the question of taking action under section 263 should not arise, the commissioner cannot ignore that plea and thus interfering with the order of the income-tax officer with reference to the ..... as the revenue authorities have yet not applied their minds to grant of exemption under section 10(22), we would consider it proper to modify the order of the commissioner and direct the income-tax officer that along with other points he should also consider the plea of the assessee under section 10(22) of the income-tax act in the light of such recognition granted to a sister trust and also the decision of the calcutta high ..... the learned counsel also submitted that even though the commissioner had taken action under section 263 he was bound to consider the plea of the assessee under section 10(22) before he proceeded to consider the order of the income-tax officer to be erroneous in so far as it was prejudicial to the ..... regarding the commissioner's directions for including certain receipts as income while computing the income under section 11 it was submitted that certain receipts had been there for a specific purpose of constructing the ..... that though in the memorandum there are other objects mentioned but the question of income-tax assessment has arisen only because the school was being run and some finances were required for its running. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD118(Delhi)
..... it shall complete the picture if extract from the finance act, 1956 projecting extention of the indian income-tax act, 1922 to merged territories and part b states is reproduced, a copy of which is given to us at pages 48 and 44 of the paper book as follows: section 3, amendment of act xi of 1922 -- with effect from the 1st day of april, 1950, the following amendments shall be made in the income-tax act, namely:- (a) for sub-section (2) of section 1, the following sub-section shall be substituted, namely:- '(2) it extends to the whole of india, except the ..... the assessing officer opined that section 4 of the income-tax act, 1961 (hereinafter referred to as the act) which is charging section covered the case and the basis of taxation under the act was the assessment year and not the accounting period and, therefore, the provisions of the finance act, 1983, i.e. ..... palkhiwalla's argument that the purpose was limited and the notification was effective from 1-4-1983 and it could not and was not in the nature of finance act and the related provisions of section 4 of the income-tax act, 1961.13. ..... before proceeding further, we must refer to article 297 of the constitution of india, which was amended twice, first time, by 15th amendment act of 1963 w.e.f, 5th october, 1963 and then by the constitution (40th) amendment act, 1976 vide section 2 w.e.f. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD277(Delhi)
..... appeals) also ascertained that no employee of the company visited india provided any services under the license agreement with the said two companies, and it was claimed that the provisions of section 9(l)(vii) were also inapplicable as the said section was introduced by the finance act, 1976 with effect from 1-6-1976 and did not apply to an agreement entered before 1-4-1976 and approved by the government. ..... according to him, the consideration payable though named as royalty, was in fact feea for technical services and should, therefore, be considered under section 9(1)(vii) of the income-tax act.it was argued that the services rendered by the assessee-company was rendered by post and the services of the foreign technical personnel were made available to the indian ..... been made before that date unless, before the expiry of the time allowed under sub-section (1) or sub-section (2) of section 139 (whether fixed originally or on extension) for furnishing the return of income for the assessment year commencing on the 1st day of april, 1977, or the assessment year in respect of which such income first becomes chargeable to tax under this act, whichever assessment year is later, the company exercises an option by furnishing a declaration in ..... it was also contended that the provisions of section 9(1)(vi) also had no application as the said section was inserted with effect from 1-6-1976 and it was not applicable in such income which is payable in pursuance of an agreement made ..... [1977] 108 .....
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