Court : Rajasthan
Reported in : [2002]255ITR599(Raj)
..... n.n. mathur j.1. this appeal under section 260a of the income-tax act, 1961, is directed against the order dated february 28, 2000, passed by the income-tax appellate tribunal, jodhpur bench, whereby the tribunal allowed the claim of the assessee for deduction of rs. 7,88,848 with respect to the bad debt for the assessment ..... part of debt in that previous year to the provision for bad and doubtful debts account made under that clause.' 7. section 36(l)(vii) was introduced by the income-tax (amendment) act, 1986, with a view to provide for grant of deduction in respect of provision for bad debt made by all the banks up to five per cent, of their ..... year 1987-88.2. this court admitted the appeal on the following question of law :'whether after the finance act, 1985, amending the provisions of .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)174CTR(Raj)400
..... n. m. mathur, j.this appeal under section 260a of the income tax act, 1961, is directed against the order dated 28-2-2000, passed by the tribunal, jodhpur bench, whereby the ..... year to the provision for bad and doubtful debts account made under that clause.'7. section 36(1)(viia) was introduced by the income tax (amendment) act, 1986, with a view to provide for grant of deduction in respect of provision for bad debt made by all the banks upto ..... off in the name of account of the assessment year 1986-87. the view also finds support from the illustration as given in the income tax law by k. chaturvedi at page 2021. according to the author if the bad debt is written off in the earlier accounting year ..... 201itr723(sc) and c.c.e. v. indo petro chemicals : 1997(92)elt13(sc) . it is also a known principle in tax law that if the assessee's income falls under two exempting sections, he is entitled to rely on both sections unless they are expressly or by necessary implication made mutually exclusive .....
Tag this Judgment!Court : Rajasthan
Reported in : 2002(2)WLC391; 2002(5)WLN136
..... can deduct the amount for area found less during joint survey.''your kind attention is also invited to the provisions of section 194-1 of the income tax act, 1961 as amended for compliance as regard recovery of income tax at source and, therefore, the same be deducted while making payment.'5. against aforesaid deduction (ann. 15) the petitioner moved an application (ann. 20b) on 4 ..... . 21,49,932/-, exemption is claimed by the assessee (petitioner) by virtue of section 10(19a) of the income tax act, 1961 (for brevity it act), though admittedly such tds income tax amount has already been deposited by challan with the it department by the collector, kota and the income tax department is not arrayed as party respondent to this writ petition. however, i have heard this writ petition alongwith .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)89TTJ(NULL)367
..... bench s.r. chauhan, j.m. & b.l. khatri, a.m. income tax act, 1961, section 271c; in favour of : assessee (partly) and revenue (partly)penalty under section 271cfailure to deduct tax at sourcepenalty under section 271c-competent authority-levy of penalty by dy. cit penalty order passed by dy. cit on 30th july, 1991 in respect of default occurding in assessment year 1988-89 ..... . in this way, it is only a technical breach if any, without prejudice to other contentions. the revenue has not at all put to any loss inasmuch as income-tax has already been paid by the assessee itself. with regard to the other entries also, it is submitted that it is a mere technical breach inasmuch as the tds ..... by the assessing officer in assessment year 1991-92 vide order under section 143(3) dated 30-9-1992 (pb 6). thus, the assessee already suffered tax on this part of income and it is clear that the assessee was not responsible for paying interest in assessment year 1988-89.3.4 the assessee thus was not liable to .....
Tag this Judgment!Court : Rajasthan
Reported in : 2003(1)WLN74
..... .i.t., jodhpur v. oil & natural gas commission) 34. these are applications under section 256(2) of the income- tax act, 1961 seeking a direction from this court, because by the order dated 26.5.1998, the income-tax appellate tribunal, jaipur bench, jaipur has rejected the application under section 2e6(1) for stating the case and referring the ..... the head profits and gains of business or profession on the basis of computation made in terms of section 44bb of the income-tax act, 1961. according to the assessee he is liable to pay tax on '10% of the aggregate of the amount specified in sub- section (2) of section 44bb. accordingly, he has included in computation ..... the assessing officer to re-compute the income of the assessee by including the entire receipt of the income-tax payable by the company in india as part of the income from profits and gains of business falling under section 26(4) of the income-tax act, 1961, by excluding it from computation of income made under section 44bb(2). 4. .....
Tag this Judgment!Court : Rajasthan
Reported in : [2002]255ITR413(Raj)
..... and 55 of 1999 (c/t v. oil and natural gas commission) . 31. these are applications under section 256(2) of the income-tax act, 1961, seeking a direction from this court, because by the order dated may 26, 1998, the income-tax appellate tribunal, jaipur bench, jaipur, has rejected the applications under section 256(1) for stating the case and referring the following question in ..... the head 'profits and gains of business or profession' on the basis of computation made in terms of section 44bb of the income-tax act, 1961. according to the assessee, it is liable to pay tax on '10 per cent, of the aggregate of the amounts specified in sub-section (2) of section 44bb'. accordingly, he has included in the computation of its profits and .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)172CTR(Raj)297
..... ref. nos. 48/99, 49/99, 50/99, 51/99, 52/99 53/99, 54/99 and 55/9915. these are applications under section 256(2) of the income tax act, 1961, seeking a direction from this court, because by the order dated 26-5-1998, the tribunal, jaipur bench, jaipur, has rejected the application under section 256(1) for ..... the head 'profits and gains of business or profession' on the basis of computation made in terms of section 44bb of the income tax act, 1961. according to the assessee he is liable to pay tax on '10 per cent of the aggregate of the amount specified in sub-section (2) of section 44bb'. accordingly, he has included in computation ..... and directed the assessing officer to recompute the income of the assessee by including the entire receipt of the income-tax payable by the company in india as part of the income from profits and gains of business falling under section 28(iv) of the income tax act, 1961, by excluding it from computation of income made under section 44bb(2).on the other hand .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)74TTJ(NULL)36
..... accrued as per the terms and conditions of the agreement entered into by these two parties and this being the position, the said amount was chargeable under the income tax act, 1961, as per the provisions of section 9(1)(vii) read with sections 4 and 5.16. the learned counsel for the assessee has also contended that the ..... of application of section 9(1)(vii) of the income tax act, 1961, to such transactions involving extra territorial operation is also in jeopardy in view of article 245(2) of the indian constitution. in this regard, he pointed out that ..... for technical services was never payable by the assessee to m/s dml, a nonresident and, therefore, the said amount was not chargeable in its hands under the income tax act, 1961. he also contended that the amount of fees in this case was received by m/s dml, from crown agents and both these parties being nonresident, the validity .....
Tag this Judgment!Court : Rajasthan
Reported in : [2002]255ITR199(Raj)
..... activities as laid down in section 10(20a) of the income-tax act, 1961 ? 3. whether, on the facts and in the circumstances of the case, the tribunal was right in not reversing the commissioner of income-tax (appeals) finding that the income from the assessee's income from business ?' 2. the respondent is the rajasthan land ..... 2) of the income-tax act, 1961, at the instance of the commissioner of income-tax, jaipur. the applicant requires this court to direct the income-tax appellate tribunal, jaipur bench, jaipur, to refer the following questions said to be questions of law arising out of the tribunal's order dated january 13, 1988, in income-tax appeal no. 949 ..... examining the judgment of the gujarat high court, the supreme court said in gujarat industrial development corporation v. cit : [1997]227itr414(sc) , that the word 'development' in section 10(20a of the income-tax act should be understood in its wide sense. there is no warrant to exclude all development programmes relating to any .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2003(3)Raj1891; 2002(3)WLN292; 2002(3)WLN292
..... 1961 to 1972 by different tenants which clearly show that the plaintiff acted as the owner of the property after purchasing the same. the plaintiff also produced relevant entries from his note-book to show that from where he got the money and how he invested the money for raising construction. the house was shown as personal property of the plaintiff in income tax ..... ex. 35) are of the years 1957-58 and 1959-60. in these orders it is mentioned that madan lal, proprietor attended the office of the income tax along with his c.a. and produced books of accounts comprising of ledgers. therefore according to learned senior counsel shri shiahodia, these documents are also old and ..... that he was manipulating things which suited him in the facts and circumstances and he was maintaining the books and transaction to suppress the facts from the income tax authorities, then the documents ex. 34 and ex. 35lose their credibility as they cannot be accepted disclosing the true and correct facts with respect to .....
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