Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: income tax appellate tribunal itat ahmedabad Page 1 of about 735 results (0.120 seconds)

United Phosphorus Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)81ITD553(Ahd.)

..... not in respect of individual assets of the concerned industrial undertakings and accordingly depreciation cannot be allocated to the different industrial undertakings as per the scheme of the income-tax act, 1961 in respect of allowance of depreciation on the concept of "block of assets".13.3 in view of the above grounds of appeal, the appellant prays that ..... has held, that if there is a nexus between the business of the appellant, and the benefit derived, then it is taxable under section 28(iv) of the income-tax act, 1961. for the question of year of chargeability of benefit, it is the year in which the appellant is entitled to it, since the benefits 'receivable' are also taxable ..... the appellate proceedings, that, in view of the decision of the itat in 41 itd 142, the benefit is not taxable since section 28(tv) of the income-tax act, 1961 applies only when the benefit is received or accrues to the appellant, and that no benefit accrued at the time of export, and, the time of accrual is .....

Nandlal H. Ramani Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1996)58ITD525(Ahd.)

..... amount of rs. 1,56,155 received by the assessee as incentive bonus is part of salary by virtue of section 17(1)(iv) of the income-tax act, 1961 (hereinafter referred to as the act) and further held that the assessee was not entitled to any deduction much less 50% thereof as claimed as no deduction other than standard deductions provided ..... issue involved before us has got two parts and the first point to be considered is whether incentive bonus earned by development officer is part of salary under the income-tax act or not. the second point involved is whether the amount of incentive bonus is fully taxable or whether any deduction on account ol alleged expenses incurred by development officer ..... court in which the tribunal is situated comes with a different view and it was based on the rule of judicial discipline and further on the ground that income-tax act is an all india statute and it was desirable to follow uniformity in i.t.matters.not only this, even our hon'ble high court in the case .....

Puransingh M. Verma and anr. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)72TTJ(Ahd.)399

..... all), their lordships of the allahabad high court held that the power exercisable by the tribunal under section 254(2) of the income tax act, 1961, is confined to rectifying any mistake apparent from the record.in the case of cit & anr. v. itat & anr. (1994) 206 itr 126 (ap), their lordships of the andhra pradesh high court held ..... business belonged to shri puransingh m. verma, hindu undivided family, and the assessee was entitled to exemption under section 10(1) of the income tax act, 1961. the revenue did not accept the decision of the commissioner (appeals) and accordingly appealed to the tribunal against the decision. separate appeals were also ..... case under section 10(1) of the act (income from agriculture).after hearing both the sides at length this tribunal held that the income earned by the assessee is not agricultural income as defined in section 2(1a) of the income tax act, 1961, and hence not exempt under section 10(1) of the income tax act. in respect of the status whether hindu .....

Puransingh M. Verma Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)78ITD277(Ahd.)

..... their lordships of the allahabad high court held that the power exercisable by the tribunal under section 254(2) of the income-tax act, 1961, is confined to rectifying any mistake apparent from the record.11. in the case of cit v. income tux appellate tribunal [1994] 206 itr 126 (ap), their lordships of the andhra pradesh high court held that the ..... that case under section 10(1) of the act (income from agriculture).4. after hearing both the sides at length this tribunal held that the income earned by the assessee is not agricultural income as defined in section 2(1a) of the income-tax act, 1961 and hence not exempt under section 10(1) of the income-tax act. in respect of the status whether huf ..... nursery business belonged to shri puransingh m verma, huf and the assessee was entitled to exemption under section 10(1) of the income-tax act, 1961. the revenue did not accept the decision of the c1t(a) and accordingly appealed to the tribunal against the decision. separate appeals were also filed .....

Core Health Care Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... of plant and machinery forms part of actual cost of the assets within the meaning of section 43 of income-tax act, 1961 and will qualify for grant of depreciation and development rebate under sections 33 and 34 of income-tax act, 1961.the judgment of the hon'ble supreme court in challapalli sugars ltd. s case (supra) was applied ..... the division bench, both of them have referred the following separate point of difference to the hon'ble president, itat under section 255(4) of the income-tax act, 1961. the point of difference referred by the learned a.m. is reproduced below :-- "whether in the facts and circumstances of the case, the view of ..... to capitalisation of interest expenditure. therefore, the ratio of the decision cannot be made applicable after insertion of various explanations below section 43(1) of the income-tax act, 1961. (vi) it is to further add that the assessee has de-capitalised various expenditure pertaining to new project including the expansion of its capacity. in this .....

Gujarat State Forest Development Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1994)51ITD147(Ahd.)

..... on royalty is within the competence of state legislature and the said judgment did not relate to the interpretation of the scope and meaning of the expression "tax" or "duty" used in section 43b of income-tax act, 1961.8.1. the hon'ble supreme court in the case of om prakash agarwal v.girl raj kishori [1987] 164 itr 376 had brought out a ..... distinction between "tax" and "fees". it was observed that the primary meaning of taxation is raising money for purposes of government by means of contributions from individual persons, a .....

Additional Commissioner of Vs. New Nandi Seeds Corpn.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)99ITD702(Ahd.)

..... , cannot be said to amount to manufacture or production of an article or thing, for the purpose of obtaining the benefit of deduction under section 80-i of the income-tax act, 1961. in our opinion, the facts of the case before the hon'ble supreme court were quite different. there was no difference in rough diamonds and final polished diamonds, ..... ] 251 itr 3232 and did not amount to manufacture and the assessee was not entitled to the special deductions under sections 80hh, 80-i and 80j of the income-tax act, 1961. here again, we, after having considered the decision of hon'ble supreme court (supra), are of the opinion that the same being distinguishable on facts for the ..... was right in coming to the conclusion that the seeds were processed by the assessee and that, therefore, the assessee was entitled to the deduction under section 80hh of the income-tax act. (ii) since the order of the hon'ble apex court in the case of navbharat seeds (p.) ltd. (supra) is a brief order and has referred to .....

Dy. Commisioner of Income Tax Vs. Pramukh Builders

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)112ITD179(Ahd.)

..... shri kamal v. shah, partner of the assessee-firm, recorded by the a.o. on 4-5-1994, and again on 29-6-1994, under section 132(4) of the income-tax act, 1961 ("act" hereinafter), conceded to have received, among others, non money' amounting to rs. 10 lakhs in respect of its two schemes, 'vrajbhoomi' and 'hajbhoomi'; (d) accordingly, the ..... in this case, the honourable president was pleased to appoint me as a third member vide his order dated 24-4-2007 under section 255(4j of the income tax act, 1961 (the act). the point of difference referred to the third member is as follows: whether, on the facts and in the circumstances of the case, should the tribunal delete ..... 132(4) as well as 131(1) of the it act, 1961, but the revenue having not found either any material or any asset, which could be correlated to the alleged undisclosed income, the assessee was quite justified in retracting his disclosure statements.14. coming to the findings of the cit (appeals) contained in paragraph no. 3.2 of his .....

Vahid Paper Converters and ors. Vs. Ito and ors.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)98ITD165(Ahd.)

..... unabsorbed losses and unabsorbed depreciation have to be deducted before arriving at the figures that would be quantified for the purpose of deduction under section 80hh of the income-tax act, 1961. we may also add that with effect from april 1, 1989, parliament inserted section 80ab laying down that where any deduction is required to be made ..... as under:- there is a duty cast on the ito to apply the relevant provisions of the indian income tax act for the purpose of determining the true figure of the assessee's taxable income and the consequential tax liability. that the assessco fails to claim the benefit of a set-off cannot relieve the ito of ..... 1. the president, income-tax appellate tribunal vide order under section 255(3) of the i.t. act, 1961 dated 07-06-2005 constituted a special bench for hearing all the aforesaid appeals to consider the following question. whether, the depreciation which is though allowable but not claimed in the return for normal computation of income has to be .....

The Joint Commissioner of Vs. Deversons Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)104ITD171(Ahd.)

..... in the case of mahalaxmi sugar mills v. cit123 itr 429, held the same as compensatory in character, and thus, allowable as a business expenditure under section 37 of the income-tax act, 1961 ("act' hereinafter). the assessee happens to be one such unit. in view of the facts, respectfully following the said decision, we hold the impugned payment of rs. 15,68,777 ..... chandigarh and mumbai benches reported at 53 itd 180 and 59 ttj 95, respectively, to exclude the amount of sales tax from the amount of total turnover for the purpose of computing the deduction exigible under section 80hhc of the income-tax act, 1961 ("act" hereinafter).before us, it was conceded by the learned d.r. that this matter stands covered and since settled by ..... 1. this is an appeal by the revenue directed against the order of the commissioner of income-tax (appeals) - v, ahmedabad ("cit(a)" for short) dated 12-7-1999, and the assessment year under reference is a.y.1996-97.2. the revenue has raised as many as six grounds of .....