Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2006)100TTJ(JP.)1080
..... had the legislation intended only the foreign currency collection as the mere motive and also the allowability of deduction on all receipts ancillary to original business of hotel running, then there should not have been any reasons to include sub-section (2) which reads that such deduction be available on only sale of service provided to foreign tourists, and not on sale of any goods or merchandise in any ..... have found that the contention raised by the learned counsel is having force that out of the reserve created under section 80hhd if, any amount is to be put to tax then the same is governed by the provisions of section 80hhd(5) and that section does not provide charging of the amount which was utilized even during the same year in which the amount was ..... be allowed and credited to a reserve account to be utilized for the purposes of the business of the assessee in the manner laid down in sub-section (4).sub-section (4) of section 80hhd says that the amount credited to the reserve account under clause (b) of sub-section (1) shall be utilized by the assessee before the expiry of a period of five years next following the previous year in which the amount was credited ..... assigned to these services then in that case the same will not fall as chargeable expenditure under expenditure-tax act because this act does not bring in its net sales effected in a shop. ..... the staff and others and accordingly travelling tickets, payment to hotels within the country and outside the country incurred .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1984)10ITD558(JP.)
..... case and arguments made challenging the validity of action undersection 25(2) on behalf of the assessee are more or less the same as have been discussed in detail in my order dated 23-8-1979 passed under section 25(2) of the wealth-tax act, in this very case for the assessment years 1966-67 to 1969-70 whereby i have set aside the said assessment order to be made de novo i need not repeat the contention raised by the ..... within one compound wall which has been approved by the government of india and notified in the gazette as official residence of ex-ruler is exempt from purview of wealth-tax under section 5(1)(iv) of the wealth-tax act, 1957, therefore, the entire 2507 bighas as mentioned by your goodself is within the compound wall of umed bhavan and comprises official residence and is also exempt.31 ..... section (4) of section 5 of the wealth-tax act under which one house or part of a house belonging to an assessee is exempted from payment, of wealth-tax ..... similar submissions were reiterated by the assessee in respect of the assessment years 1975-76 and 1976-77 vide his letter dated 14-3-1980.25.6 the commissioner's action under section 25(2) as is evident from the above was challenged, firstly, on the ground that he had no jurisdiction to initiate action under section 25(2) as the wto had not made any error in framing these assessments and that he had examined the matter thoroughly before ..... mentioned that the assessee was showing receipts of advance on the cash basis ..... its conversion into hotel. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1989)28ITD69(JP.)
..... lias filed appeals against the common order of the cwt, jodhpur passed under section 25(2) of the wealth-tax act, 1957, for the assessment years 1972-73 to 1984-85 and has raised the following common ground for all these years: in the facts and circumstances of the case the learned cwt, jodhpur has erred in setting aside the assessment order passed by the wto, jodhpur exempting the appellant trust under section 5(1)(c) of the wt act, 1957.2. ..... any specific cases/classes of cases/persons/classes of persons ; (b) functions assigned to wto may be performed by the inspector of wealth-tax: provided that commissioner shall not issue any such direction in cases falling under (b) above unless so authorised by the board in relation to the functions of the wto, such as, imposition of penalty for non-payment of the self-assessment tax, making of an assessment, issue of notice for reassessment, penalty for non-furnishing of the return, concealment, etc. ..... on receipt of your acceptance of this offer by you, i shall give necessary instructions to marudhar hotels pvt. ..... we have given our very careful considerations to the arguments advanced by the rival parties and the various materials that are placed on our record as also of the record of the cwt.10 ..... in the order sheet for the assessment year 1979-80, which has been applied by him for all the years in question and therefore has been brought out below: in this case notice under section 17 was issued on 21-4-1980 and served on 2-5-1980 for the asst. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1988)24ITD100(JP.)
..... he held that the provisions of section 41(2) of the income-tax act were clearly attracted to this case and since terminal allowance was allowed by the tribunal in respect of these very bottles, the money recovered by the assessee with respect to those bottles was a revenue receipt within the meaning of sub-section (2) of section 41. ..... viewed from this angle, which was also one of the influencing factors for the offer of compensation, it is perhaps difficult to agree with the contention advanced on behalf of the assessee that the offer made by the coca-cola export corporation was purely compassionate, bounty unrelated to the bottles or its destruction, gift or a donation and in any case not prompted by any legal ..... in substance is his source of income, termination of the contract being a normal incident of the business, and such cancellation leaves him free to carry on his trade (freed from the contract terminated), the receipt is revenue ; whereby the cancellation of an agency the trading structure of the assessee is impaired, or such cancellation results in loss of what may be regarded as the source of the assessee's income, the payment made to compensate for cancellation of the agency agreement is normally a capital ..... bengal hotels ltd. ..... on that view, he rejected the assessee's claim for exemption and brought these sums to tax in these two assessment years 1979-80 and 1980-81. ..... 38,500 in the next assessment year 1980-81. ..... [1980] 125 itr 662 (raj. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1999)69ITD115(JP.)
..... case (supra) and pandit lakshmikanta jha's case (supra).2.6 in reply it was claimed by the learned counsel of the assessee that the amount paid can be treated as royalty under section 9(1)(vi) of the income-tax act but these provisions are overridden by section 90 under which the government of india entered into double taxation avoidance agreement with the government of italy and the payments made are, therefore, governed by the provisions of the dtaa. ..... with the lower authorities that the payment for technical assistance was not royalty.6.39 i agree with the arguments advanced by the learned counsel of the assessee that this decision also support the case of the assessee as in the present case also the payment made for use of the process for manufacturing of pta has been shown as royalty in the contract itself whereas the payment made for supply of technical know- ..... word "royalty" has also been described in black's law dictionary (fifth edition) to mean compensation for the use of property usually copyrighted material or natural resources, expressed as a percentage of receipts from using the property or as an account per unit produced. ..... aiyer's judicial dictionary (8th edition 1980) : literally permission and thus a gift, the implication being that such a gift carries with it a privilege of ..... that it is not the form but the substance of the transaction that matters and in support he placed reliance on the decisions reported in the following :associated hotels of india ltd. v. r. n. .....
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