Court : Income Tax Appellate Tribunal ITAT Pune
Reported in : (2004)90ITD115(Pune.)
..... with-but certainly not void or illegal..... held, allowing the appeal, that the tribunal was correct in holding that non-service of notice under section 143(2) of the it act, 1961, to nine out of the ten legal representatives of the. deceased s did not invalidate the assessment orders of the ito relating to the asst. yrs. 1965-66, 1966 ..... said period is to be adjusted and to be set off in terms of the provisions of section 158bb(1)(d) of the act and tax imposable on such income will be regular tax leviable under the general provisions of the act. we find that this ground is the same as in the case of g.c. associates (supra) and it has been ..... fresh consideration.?" 2. i have heard the rival submissions in the light of material placed before me and precedents relied upon.3. notice under section 158bc of the it act, 1961 (hereinafter called 'the act'), was issued and served on the assessee on 7th april, 1997, calling for the return for the block period. the assessee did not file return for the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
..... the hon'ble supreme court has clearly held that in order to claim the deduction on account of development rebate under section 33(1) of the income-tax act, 1961, it is obligatory that the debit entries on the profit and loss account and the credit entry in a reserve account should be made in the ..... the case of mitsubishi motors (supra) it has been held that the warranty provision was a deductible expenditure. this case though decided under the new zealand income-tax act, supports the principle of measurement of profit on accepted trading principles and generally accepted accounting principles, thus unless the statute expressly or impliedly provided to the ..... mitsubishi motors new zealand ltd. (supra), the ld. d.r submitted that the decision was delivered under the income-tax act of new zealand and there being material difference between the provisions of income-tax in new zealand and income-tax in india, the said decision has no relevance. the ld. d.r. accordingly, concluded that the action .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
..... the honble supreme court has clearly held that in order to claim the deduction on account of development rebate under section 33(1) of the income tax act 1961, it is obligatory that the debit entries on the profit & loss account and the credit entry in a reserve account should be made in ..... mitsuibi motors (supra), it has been held that the warranty provision was a deductible expenditure. this case though decided under the new zealand income tax act, supports the principle of measurement of profit on accepted trading principles and generally accepted accounting principles, thus unless the statute expressly or impliedly provided ..... v. mitsuibi motors (supra), the departmental representative submitted that the decision was delivered under the income tax act of new zealand and there being material difference between the provisions of income-tax in new zealand and income-tax in india. the said decision has no relevance. the learned departmental representative accordingly, concluded that .....
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