Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 Sorted by: old Court: income tax appellate tribunal itat guwahati Page 1 of about 3 results (0.114 seconds)

Shrimanta Shankar Academy Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

..... cit was required to register the society from first day of the financial year in which the application was filed and since the application was submitted on 30-03-2004 he rightly registered the society with effect from 01-04-2003 and since no reason was given for delay in filing the application, the registration was not required to be given with effect from 01-04-2001. ..... he further submitted that there was no good ground for not treating assessee as a charitable institution extending benefit under section 12a of the act for assessment year 2002-03 when delay in the submission of the application was duly explained and there was no dispute that the assessee-society was a charitable institution existing solely for educational purposes.remand of ..... however, the aggregate annual receipt of the appellant society for the assessment years 2002-2003 and 2003-2004 exceeded the amount prescribed under section 10(23c)(iiiad) and the society was covered by section 10(23c)(vi). ..... the assessee at the same time submitted an application for approval of the society under section 12a(a) before the cit, guwahati on 31-03-2004 for the assessment year 2002-2003 requesting him to grant registration with effect from 01-04-2001. ..... he drew my attention to the application dated 23.3.2004 wherein registration under section 12a of the act was sought for assessment year 2002-03 and in the second application the above request was merely repeated. ..... the section 10(22) of the act was omitted by the finance (no. .....

Goyal Trading Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1989)28ITD265(Gau.)

..... pointed out that the assessment has been re-opened after obtaining the concerned iac's approval which was in accordance with law and was not vitiated.according to the cit (appeals) if the ito acted wrongly in making enquiries and impounded the books of the assessee after return has been filed under the amnesty scheme, the assessee should have complained the matter to the iac concerned or the commissioner ..... there was nothing in section 24 of the finance (no.2) act, 1965, which prevented the income tax officer, if he was not satisfied with explanation of the assessee about the genuineness or source of the amount found credited in its books, although the same had ..... that any further enquiry as to the basis of such income, would be contrary to the spirit of the amnesty scheme enunciated by the board and by the finance minister as per circular noted in the assessment order itself. ..... , the hon'ble supreme court in the case of jamnaprasad kanhaiyalal (supra) has held that there was nothing' in section 24 of finance (no. ..... [1975] 98 itr 681, in which it was held that it was not permissible for the department to go into the question of the nature and source of the amount declared in a voluntary disclosure under section 24 of the finance (no. ..... the constitution of claims, the tribunal remained uneffected and had to proceed for disposal of the matter.thus, in our opinion, change of jurisdiction or divesting of jurisdiction can be effected only by a provision of law and not by act of parties. .....

George Williamson (Assam) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1991)37ITD392(Gau.)

..... ponnoave [1970] 75 itr 174 the hon'ble supreme court had occasion to deal with section 4 of the finance act, 1963 which was substituted by a new definition of "tax recovery officer". ..... section 35b itself was introduced in the statute by the finance act 1968 with effect from 1 -4-1968. ..... that on the facts and in the circumstances of the case the learned cit(a)erred in holding that simultaneously with power given under the provisions of section 35(1)(b)(a)of the act to prescribe other activities for the promotion of sale outside india of goods, services or facilities the rule making authority was by implication also given the power to prescribe time limit for operation of the provisions of the ..... as stated earlier, the assessee claimed weighted deduction under section 35b which was introduced in the statute with effect from 1-4-1968 by the finance act 1968. ..... that on the facts and in the circumstances of the case, the learned cit(a) erred in holding that weighted deduction under section 35(1)(b)(ix) of the it act, 1961 read with rule 6aa of the it rules 1962 was available with effect from 1-8-1981 only and accordingly sustaining the disallowance of appellant's claim for weighted deduction in respect of expenditure of rs. ..... that on the facts and in the circumstances of the case, the learned cit(a) should have held that the rule cannot supersede the provisions of the act and in that view he should have allowed the appellant's claim for weighted deduction in respect of expenditure of rs. .....

income-tax Officer Vs. H.S. Chittaranjan

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1993)45ITD273(Gau.)

..... of his posting or residence.therefore, if any assessee who intends to take the advantage and benefit in respect of any allowance granted to it then he has to come within the provisions of sub-clause (14) of section 10 of the act and this sub-clause (14) clearly specifies that any allowance or special allowance or benefit not being in nature of perquisite within the meaning of clause (2) of section 17 has to be to the extent as may be specified by the ..... neither the word "casual" nor the word "non-recurring" has been defined under the income-tax act and these words must, therefore, be understood in their plain and ordinary sense.however, the definition of the word "casual" in the oxford universal dictionary means "(i) subject to or produced by chance, ..... prove by necessary evidence that the income, namely, sda is not to be taxed under the provisions of the act and we do not find any evidence whatsoever which has been led by the assessee in this direction.6. ..... , is an inclusive definition and according to sub-clauses (iiia) and (iiib) to section 2(24) of the act which we are reproducing below, the allowances granted to the assessees are included in the definition of income :- (iiia) any special allowance or benefit, other than perquisite included ..... to the civilian employees of the central government serving in the states and union territories of the north eastern region as per notification of the government of india, ministry of finance, department of expenditure in office memorandum no. .....

Deputy Commissioner of Vs. Assam Frontier Tea Ltd.

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1993)47ITD179(Gau.)

..... party, in a manner of speaking and is also at the same time an authority vested with the responsibilities of drawing up the assessment and laying down the correct liability, it would not be in accord with the scheme of the act to impose restrictions on the ambit and the power of the tribunal by such like notions as finality, subject-matter of the appeal and the like. ..... the supreme court, while dealing with the powers of the first appellate authority under section 251(1)(a) of the act held that the appellate assistant commissioner had plenary powers in disposing of an appeal before him and the scope of his power is co-terminous with that of ..... 's case (supra), has taken the view that there is nothing in the income-tax act which restricts the tribunal to the determination of the questions raised before the assessing authority and that it was open to the tribunal to consider all matters relating to the assessment, whether of fact ..... the law regarding the allowability of the surtax liability under section 37 of the act is also in favour of the assessee, as laid down by the hon'ble gauhati high court in the case of doom dooma ..... that was a case, where the assessee claimed deduction under section 84 of the act and it was an admitted position that there were no materials before the income-tax officer to ..... 66 itr 710 again the supreme court held that there was nothing in the income-tax act restricting the tribunal to the determination of questions raised before the departmental authorities. .....

Bongaigaon Refinery and Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1999)68ITD531(Gau.)

..... arguments by stating that in this case the assessee had not filed separate p&l a/c and balance sheet, which it should have drawn on the basis of separate books of account, duly audited by statutory auditor under companies act, and therefore, the order of learned cit, ner, shillong, be upheld as this was the only alternative left to bifurcate the profit in the absence of separate p&l a/c and balance sheet of petro-chemical unit which were not ..... his main contention is that its accounts are required to be audited as per companies act, which nowhere provided that separate statement of accounts to be maintained for an industrial undertaking for claiming deduction under ..... our opinion, in the absence of separate books of account, duly audited by statutory auditor under the companies act and balance sheet of petro-chemical unit, these are not verifiable. ..... according to him, the company had fulfilled all the requirement of companies act regarding p&l a/c and balance sheet, as such provisions contained in ..... were required to be audited by statutory auditors under the companies act and only concession given by provisions contained in ss. ..... barua, finance manager of the assessee-company appeared and submitted a written reply stating therein that all relevant details relating to the bifurcation of profit amongst the three units of the appellant company had already been ..... 1986-87 to 1992-93 is also evident from the provisions contained in s.80-i(6) of the it act, 1961.the provisions contained in the s. .....

The Assam State Textbook Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2003)87ITD99(Gau.)

..... aditanar educational institution (supra) considered the scope of exemption under section 10(22) and it was held that if the claim of society which was only a financing body was held not to come within the scope of "other educational institutions" as specified in section 10(22) of the act, it would be unreal and hypertechnical as the object of the society was to establish, run, manage or assist colleges or schools or other educational institutions ..... its members nor intends to declare the same in future also but he admitted that the assessee-company is not registered under section 25 of the companies act, 1956, and the memorandum of association and the articles of association of the assessee-company does not restrict the payment of dividend and issue of bonus share to its members. ..... in this case the two questions raised before the high court were ; (i) whether the assessee-society is entitled for claiming exemption under the provisions of section 10(22) of the act even if its funds are being misutilised by the members of the society; and (ii) whether the relief under section 10(22) can well be given to the assessee-society when ..... bench and eventually came to the conclusion that the assessee-company did not exist as university or other educational institution as contemplated under section 10(22) of the act as it does not carry on the primary activities of university or educational institution of imparting education but merely runs the business of printing and publishing of textbooks. .....

Thard Hardware Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2003)87ITD391(Gau.)

..... in this appeal there is difference of opinion between the members.in view thereof, the issue is referred to the hon'ble president of the tribunal under section 255(4) of the it act, 1961, for opinion of the third member on the issues which are framed as under : (1) whether, on the facts and circumstances of the case, the ao after bringing to the notice of the assessee the ..... result of his own independent enquiry he comes to the conclusion that the information received by him is true, he is at liberty to act thereupon after disclosing it to the assessee and affording to him a reasonable opportunity of rebutting it. ..... having complied with the requirement of section 184(7) of the it act, 1961 the status of the petitioner should have been taken as a ..... sandhya finances (1992) 43 ttj (hyd) 133 : (1992) 40 itd ..... further, as required under section 184(7) of the act, the assessee-firm has also filed declaration in the ..... thard under section 131 of the act to still take the statement of ..... the records it is also evident that the request of the assessee to summon smt.sarala devi under section 131 of the act was also turned down by the ao. ..... not grant continuation of registration to the firm under section 184(7) of the act as he held that the form no. ..... section 185(3) of the act enjoins a mandatory duty upon the ao to intimate the defect to the firm and give it an opportunity to rectify the defect therein within a period of one month from the date of intimation, without affording such an opportunity .....

Assistant Commissioner of Income Vs. Tea Agency Trading Centre

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2004)88ITD96(Gau.)

..... respectfully following the decision of the hon'ble apex court as mentioned above the amount received from insurance company is not, assessable under the head capital gains.subsequently by finance act, 1999, w.e.f, 1st april, 2000, the money received under the insurance policy was brought to tax as capital gain under section 45(1a) of the act. ..... -94 the amendment made by the finance act, 1999, is not applicable and accordingly the assessee is not liable to pay capital gains tax.now, the issue remains as to whether the assessee's case falls under section 43 of the it act. ..... in the return of income filed by the assessee, the assessee has claimed the depreciation on opening wdv of factory building at 10 per cent and plant & machinery at 25 per cent which is against the clear provisions of the act as mentioned hereinabove and hence the money received from the insurance company in respect of the factory building and plant & machinery is liable to be adjusted in the said block of assets which may be reduced to nil. ..... received by the assessee from the insurance company was also held to be assessable under section 28 of the it act, 1961.accordingly, the ao did not allow the claim made by the assessee in the revised computation of income. ..... learned jm has opined that such a provision is attracted and the written down value of the respective block of asset has got to be adjusted in accordance with the said provisions of the act as a result of receipt of insurance claim in the year under appeal. .....

Shrimanta Shankar Academy Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2007)109TTJ(Gau.)426

..... the assessee has objected to registration of application under section 12a filed on 30th march, 2004 seeking registration with effect from the financial year 2001-02 relevant to the asst. yr. ..... the section 10(22) of the act was omitted by the finance (no. ..... 23rd march, 2004 wherein registration under section 12a of the act was sought for asst. yr. ..... 5th april, 2004 to the assessee asking the assessee to explain delay in submission of the application, which reads as under: the application for the purpose of registration under section 12a of the it act, 1961 is required to filed within one year of the date of creation/establishment of the trust. ..... the assessee filed application with complete details on 30th march, 2004 for needful approval for the asst. ..... , 1992 had filed an application for registration under clause (a) of section 12a of the it act, 1961 in the prescribed form on 30th march, 2004. ..... the assessee thus explained compelling circumstances that resulted in submitting the application under section 12a of the act only on 30th march, 2004. ..... pointed out that the learned cit was required to register the society from first day of the financial year in which the application was filed and since the application was submitted on 30th march, 2004 he rightly registered the society w.e.f. ..... , 2004 in conformity with section 12aa(1)(b)(ii) of the it act to show that the prayer of the assessee for registration with effect from earlier year as discussed above was considered by the learned cit. .....