Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: income tax appellate tribunal itat chandigarh Page 1 of about 354 results (1.068 seconds)

Phillips India Ltd. (Earlier Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)92ITD441(Chd.)

..... this appeal of the assessee is relating to the treatment of set-off of mat credit under section 115jaa and charging of interest under sections 234b and 234c of the income-tax act. 1961 3. the relevant facts briefly stated are that the assessee is a company engaged in the sale and manufacture of lamps, fluorescent tubes and glass shells. for the- assessment year ..... section 115ja to which he is eligible under section 115jaa(4). at this stage, it will be relevant to reproduce the provisions of sections 207 and 208 of the income-tax act, 1961 which are as under:- "207. tax shall be payable in advance during any financial year, in accordance with the provisions of sections 208 to 219 (both inclusive), in respect of the total .....

A.C.i.T. Vs. Steel Strips Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)108ITD720(Chd.)

..... indirect, to meet a portion of the actual cost of any specific capital asset, it could not be brought within the purview of section 43(1) of the income-tax act, 1961. therefore, the subsidy could not be deducted from the actual cost of the asset to the assessee and depreciation should be allowed without reducing the same by the amount ..... met by the govt.for setting up the industry. the issue in that case was to determine the actual cost with reference to section 43(1) of the income-tax act, 1961 for the purposes of grant of depreciation. their lordships of the supreme court in that case held that the character and nature of the subsidy has got to ..... of industries in the backward region and, therefore, these grants were of capital nature not liable to tax under the income-tax act, 1961. the plea did not find favour with the ito.the transport subsidy was added to the income of the assessee. the cit(a) held that the subsidy being of revenue account was taxable. the tribunal also upheld the view .....

The A.C.i.T. Vs. Aggarwal Construction Co.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... assessee had failed to comply with the provisions of section 44aa read with rule 6f and thus is liable to be penalized under section 271a of the income-tax act, 1961". he imposed penalty of rs. 1 lac on the assessee vide his order dated 15.11.2002.5. the assessee impugned above levy in appeal before the ..... view that levy of penalty imposed under section 271a should be upheld by allowing the appeal of the revenue. he considered provisions of section 44aa of the income-tax act and reached the conclusion that the assessee deliberately and consciously did not maintain books of account and avoided attendance of assessment/penalty proceedings. the assessee also did ..... section 271 to deal with the above wrong and false accounts. therefore, failures which are dealt in other provisions cannot be read in section 271a of the income-tax act. there is ample power under sections 144/145 to deal with reliable accounts. a.o. can disallow and add back unvouched and inadmissible expenses. the assessee has .....

Commissioner of Income-tax Vs. Suraj Parkash Gupta

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1998)65ITD8(Chd.)

..... members constituting the division bench, the following point of difference has been referred to me as a third member by the hon'ble president under section 255(4) of the income-tax act, 1961 :- "whether, on the facts and in the circumstances of the case, the questions as mentioned below were referable questions of law or not :- 1. whether, on the ..... it is also pleaded by the revenue that the assessee has failed to give proof of payment of secret commission and the law of res judicata is not applicable in income-tax matters. similarly, it was pleaded that the question relating to penalty of rs. 55,862 under section 271(1)(c) does arise and deserves to be referred." the ..... it is also pleaded by the revenue that the assessee has failed to give proof of payment of secret commission and the law of res judicata is not applicable in income-tax matters.similarly, it was pleaded that the question relating to penalty of rs. 55,862 under section 271(1)(c) does arise and deserves to be referred.ld. .....

S.A. Builders Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2003)86ITD58(Chd.)

..... donations could not be held to be for the purpose of assessee's business and, therefore, disallowance of interest under section 36(1)(iii) of the income tax act was justified.accordingly, the assessing officer disallowed interest of rs. 5,66,729 at the rate of 18% of the amounts advanced to its sister concern.being ..... assessee is entitled to the benefit of carry forward of losses as determined in accordance with the normal provisions of the income tax act by ignoring the income computed under section 115j. the relevant findings of the income tax appellate tribunal contained in para 5 of the aforesaid order are reproduced hereunder: "5. we have heard both the parties ..... -90 relates to the fact that the commissioner (appeals) was not justified in sustaining disallowance of rs. 1,27,989 under section 40a(3) of the income tax act. the facts of the case are that while completing the assessment for the assessment year under, reference, the assessing officer observed that the assessee had made cash .....

income Tax Officer Vs. Tirlok Tirath Vidyavati Chuttani

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)90ITD569(Chd.)

..... trust to another for utilization by the donee-trust towards its charitable objects is proper application of income for charitable purpose in the hands of the donee-trust; and the donor-trust will not lose exemption under section 11 of the income-tax act, 1961 merely because the donee-trust did not spend the donation during the year of receipt itself." it ..... was further submitted that the hon'ble supreme court in the case of cit v. andhra chamber of commerce, 55 itr 722, had laid down that if ..... objectives of the trust and hence, provisions of section 11(1) of the i.t. act, 1961 would not be applicable to such income/loss as provided in section 11(4a) of the i.t. act, 1961. 8. it is prayed that the order of the learned cit(a) be cancelled and that of the assessing officer may be restored.3. the first .....

The A.C.i.T. Vs. Nahar International Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... and deciding the captioned appeal on the following point which is being referred to the president, income-tax appeallate tribunal under section 255(4) of the i.t. act, 1961. whether, on the facts and in the circumstances of the case, cit (appeals) was right in deleting interest of rs. 49,68,000 attributable to interest- ..... in our opinion, if the assessee spent any money for the welfare of the employees, then such expenditure is to be allowed rather than disallowed. the income-tax act also takes due recognition of such a principle. section 37(2a) for instance provides for disallowance of entertainment expenditure. the explanation to the said section enlarges ..... our opinion, if the assessee spent any money for the welfare of the employees, then such expenditure is to be allowed rather than disallowed. the income-tax act also takes due recognition of such a principle. section 37(2a) for instance provides for disallowance of entertainment expenditure. the explanation to the said section enlarges .....

Assistant Commissioner of Vs. Nahar International Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)98ITD96(Chd.)

..... and deciding the captioned appeal on the following point which is being referred to the president, income-tax appellate tribunal under section 255(4) of the income-tax act, 1961: whether, on the facts and in the circumstances of the case, cit(appeals) was right in deleting interest of rs. 49,68,000 attributable to interest-free ..... in our opinion, if the assessee spent any money for the welfare of the employees, then such expenditure is to be allowed rather than disallowed. the income-tax act also lakes due recognition of such a principle. section 37(2a) for instance provides for disallowance of entertainment expenditure. the explanation to the said section ..... in out-opinion, if the assessee spent any money for the welfare of the employees, then such expenditure is to be allowed rather than disallowed. the income-tax act also takes due recognition of such a principle. section 37(2a) for instance provides for disallowance of entertainment expenditure. the explanation to the said section .....

Punjab State Co-op. Milk Producer Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)104ITD408(Chd.)

..... supply to members as well as to non-members. for assessment year 64-65, 65-66 and 66-67, the assessee claimed exemption from income tax under section 80(i)(d) of the income-tax act, 1961 on the gross profits and gains of business with its members. but the ito granted relief only on the net amount as was includible in the ..... the interest earned by the assessee on the advances given to the member cooperative societies for procurement of milk qualifies for decision under section 80p(2)(d) of the income-tax act, 1961. we hold accordingly.12. now we proceed to consider the second issue involved in this appeal i.e. relating to the quantum of deduction under section 80p(2)( ..... ,72,776/- paid to the same bank.13. the issue involved in the present appeal is as to whether deduction under section 80p(2)(d) of the income-tax act, 1961 is permissible to the assessee in respect of the gross interest received from member cooperative societies or net interest computed in accordance with the provisions of the .....

Rameshwar Lal Ahuja Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2000)67TTJ(Chd.)411

..... observed that the surrender may strengthen the decision that fdrs, nscs and rds had been made from year to year out of undisclosed income. he, therefore, made an addition of rs. 13,19,563 under section 69 of the income tax act, 1961.the learned counsel referred to p. 10 of the paper-book, where a copy of reply of the assessee is placed. in ..... the assessee is in appeal against the assessment order, dated 26-6-1997, made under section 158bc read with section 144 of the income tax act, 1961.the learned counsel, on directions of the tribunal filed revised grounds of appeal.ground no. 1 relating to passing of ex parte order was not pressed by the learned counsel. ..... para 3 the assessee stated that fdrs and rds amounting to 4,01,808 were from income of hotel unique, beauty palace and savings from rental .....