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Transmission Corpn. of Ap. Ltd. Vs. Acit [Alongwith Sp Nos. 25 to

Court : Income Tax Appellate Tribunal ITAT Hyderabad

..... ) referred : section 245n(b)(iii) dt. of issue 3.8.2000 "in exercise of the powers conferred by sub-clause (iii) of clause (b) of section 245n of the income tax act, 1961 (43 of 1961), and in supersession of notification no. s.o. 473(3), dated 21st june, 1999, the central government here by specifies public sector company as defined in clause (36a) of ..... apply to them has to be viewed also from the definitions under the income tax act and under the companies act: section 2(36a) of income tax act, 1961: "public sector company means any corporation established by or under any central state or provincial act or a government company as defined in section 617 of the companies act, 1956 (1 to 1956) "section 617: definition of government company':- for the .....

Transmission Corpn. of Ap Ltd. Vs. Asstt. Cit, Circle (2)

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2005)97ITD171(Hyd.)

..... section 245n(b)(iii) date of issue 3-8-2000 'in exercise of the powers conferred by sub-clause (iii) of clause (b) of section 245n of the income tax act, 1961 (43 of 1961), and in supersession of notification no. s.o. 473(3), dated 21-6-1999, the central government hereby specifies public sector companies as defined in clause (36a) ..... of section 2 of the income tax act being such class of persons, as applicant for the purposes of chapter xix-b of the income tax act.2. it shall come into force on ..... fact in the hands of the assessees themselves. similar is the situation, if they approach the authority for advanced ruling as per section 245rr of the income tax act. chapter xix-b of the income tax act is not being availed by the assessee.in the result, we apply the decision of the hon'ble supreme court in the cases of oil & .....

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)288ITR226(Hyd.)

..... doubts" as in all retrospective or declaratory legislations. thus, we have no difficulty in holding that the proviso inserted to section 113 of the income-tax act, 1961, by finance act, 2002, with effect from 1.6.2002 is neither retrospective nor declaratory or clarificatory having retroactive operation. in fact, the memorandum explaining the provisions ..... that such an argument cannot be raised before tribunal. (d)there is no express intendment in the proviso introduced to section 113 of the income-tax act, 1961, by the finance act, 2002, that it is retrospective, though the revenue argues that this is retroactive due to necessary implication. (e)the resolution of the ..... revenue implication in all search cases. it has wide ramifications, and it required an in depth examination of the position of the annual finance acts vis-is the income-tax act, 1961, and also an in depth analysis of the principles of statutory interpretation. for these reasons, and as there are conflicting decisions on this .....

Sri Chaitanya Educational Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)106ITD256(Hyd.)

..... 1964 lll itr -short notes of current cases- 2) relied upon by the assessee, examining the retrospective or otherwise nature of the provisions of section 155 of the income tax act, 1961, hon'ble andhra pradesh high court held as follows- (ii) that in the absence of express words or necessary implication to the contrary a statute which was not ..... amendment made to the provisions of section 80p(2)(a)(iii).facts before the apex court in that case are that section 80p(2)(a)(iii)'of the income tax act, 1961 as originally inserted provided that in the case of a co-operative society engaged in (iii) the marketing of the agricultural produce of its members" the whole ..... gathered during the course of search, the commissioner(central) found that there have been several instances of violation of the provisions of section 11 to 13 of the income-tax act, 1961. he accordingly issued a show-cause notice on 15.11.2003 to the assessee, calling for its explanation within ten days from the receipt thereof, in the .....

T.C.i. Finance Ltd. Vs. Asstt. Cit, Range 3

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2004)91ITD573(Hyd.)

..... area of taxation which is covered by the income-tax act, 1961, which is also an act of parliament operating in its particular field. thus, there is no inconsistency or anomaly between the income-tax act and the rbi act, because these acts operate in different fields. for the proposition that income-tax act and rbi act have different fields of operation, the learned dr ..... debtors' account as amount realisable, the ao held that the same could not be allowed as an expenditure under section 37(1) of the income-tax act, 1961. the cit (a) was of the view that by making a claim in the computation statement without duly reflecting the same in the books of account would ..... force or any instrument having effect by virtue of any such law." as such, the provisions of section 45ja contained in chapter iiib of the rbi act override the income-tax act, 1961, as well as the agreements entered into between the assessee company and its hirer/lessees/loanees.in peerless general finance & investment co. ltd. and .....

Smt. Durdana Khatoon Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2005)93ITD15(Hyd.)

..... 9-1999. it was stated in the deed that the retirement shall be with effect from 31-3-1999.4. search and seizure operations under section 132 of the income tax act, 1961, were conducted on one shri zulfi ravjee, on 8-2-2001. a notice under section 158 bd was issued to the assessee on 10-10-2001.this was ..... contemplates the concept of partial dissolution or a dissolution qua an individual partner.12. on liability to be assessed for capital gains tax under section 45 of the income-tax act, 1961,the learned dr submitted that the compromise deed suggests compensation was given in consideration of the assessee assigning or releasing her share and interest in the ..... title in the partnership assets in favour of the continuing partners. thus he submitted that it is a transfer within the meaning of section 2(47) of the income-tax act. he placed reliance on the following decisions: referring to the case laws relied upon by the learned counsel for the assessee, the learned dr submitted that they are .....

Ncl Industries Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2004)88ITD150(Hyd.)

..... the case of assam bengal carders ltd. (supra) held as under : inlcrcsl under sections 234b and 234c of the income-tax act, 1961 is chargeable even in a case where tax liability arises only by applicability of the provisions of section 115j of the income-tax act, 1961. the word "loss" for the purposes of deduction to arrive at book profit as provided in clause (iv) of ..... pradesh high court in the case of itarsi oils & flours p.ltd. (supra) held as per the headnote as under : scclions 234b and 234c of the income-tax act, 1961 do not make any reference to section 115j. section 234b lays down that where advance lax is required to be paid and there is failure to pay or if ..... to the finance bill by the finance minister in the year 1987 when he said as under : the finance bill inserts a new section 115j in the income-tax act, 1961, to levy a minimum tax on book profits of certain companies. representations have been received that in computing book profits for the purpose of determining the minimum .....

inspecting Assistant Vs. Dredging Corpn. of India Ltd.

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1987)23ITD49(Hyd.)

..... are entertained for disposal.3. the first point of dispute is with regard to the amount of claim of the assessee under section 80-o of the income-tax act, 1961 (the act).the assessee is a government of india undertaking operating dredgers and running incidental technical services. it had undertaken a port management contract as a sub-contractor to ..... appeals) has simply remarked that the first items of rs. 30,000 is admissible on the basis of the slab rates permitted under section 37(2) of the income-tax act.in the context of these summary figures and the summary remarks, we are unable to appreciate properly whether the expenditure, though on entertainment, was really incurred for ..... to him in the earlier year, could be related back to the earlier year and made taxable along with the income of that year.... no power is conferred on the income-tax officer under the act to relate back an income that accrued or arose in a subsequent year to another earlier year on the ground that the said .....

Dharamdas Hargovandas Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1985)11ITD544(Hyd.)

..... of the representative-assessee is 'in like manner and to the same extent' even as statutorily provided under section 161 of the income-tax act, 1961 ('the act'). he also referred to sections 166 and 167 of the act in the same chapter relating to assessment on representative-assessees, to show that the assessment could be in either hands, and ..... on same terms. the result is that the assessee was the sole beneficiary during his lifetime of the income from certain properties in pursuance of the agreement, dated 6-5-1962. the income was also assessed for income-tax purpose in the assessee's personal assessments. but the capital loss on sale of property in trust on ..... as pointed out by the learned counsel for the assessee, were not dissimilar. this decision rendered for wealth-tax purposes was followed for income-tax purposes in smt. kamalini khatau's case (supra) where it not only held that the income can be assessed in trustee's hands, but also stated how (at what rate) it should be assessed .....

Smt. G. Kamalamba Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1983)5ITD252(Hyd.)

..... -77 is rs. 8,449 and the amount claimed during the assessment year 1977-78 is rs. 9,747. in the original assessment completed under section 143(3) of the income-tax act, 1961 ('the act') for the assessment year 1976-77 dated 28-2-1977, the ito appeared to have allowed the amount of rs. 8,449 to be deducted from the gross total ..... ) stipulating allowance of interest on borrowed capital and section 5(e) authorising deductions of general nature (corresponding to section 10(2)(xv)/section 37 of the 1922/1961 act) under the madras plantations agricultural income-tax act, 1955 and held that in respect of interest on unpaid purchase consideration which did not fall under section 5(k) it was all the same allowable under section .....