Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: income tax appellate tribunal itat delhi Page 12 of about 2,011 results (0.250 seconds)

Steriplate (P) Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)7SOT596(Delhi)

..... supreme court in relation to chargeability of money receivable on account of plant and machinery in excess of wdv under section 41(2) of the income tax act, 1961. both the parties have quoted such judgments in support of their respective submissions. whereas the learned authorised representative has relied on the judgment of hon ..... pronouncements, the learned commissioner (appeals), faridabad erred in not holding, after directing the assessing officer to compute the capital gain under section 45 of income tax act with the reference to consideration received from such transfer vis-a-vis the cost of acquisition of undertaking, that the surplus arises on the transfer of ..... case, the learned commissioner (appeals) has erred in law in directing the assessing officer to recompute the capital gained under section 45 of the income tax act with reference to the consideration received for the said transfer vis-a-vis the cost of acquisition of undertaking without appreciating the facts that the assessee .....

Joint Cit, Special Range-30 Vs. Pramod Bhasin

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)8SOT72(Delhi)

..... not be taxable. the learned dr was not able to point out as to what is the material difference in between section 7(1) of income tax act, 1922 and the provisions of sections 15 to 17 of income tax act, 1961 on this point. fact remains that assessee was not going to get any benefit under the welfare pension scheme till he attains the age of ..... that pension as calculated in accordance with the provisions of gepp would become payable to the assessee only when he retires. section 15 of the income tax act reads as under : "15. the following income shall be chargeable to income-tax under the head salaries (a) any salary due from an employer or a former employer to an assessee in the previous year, whether paid ..... him by a or are due to him, whether paid or no, from, or are paid by or on behalf of.... a companyin section 7(1) of the indian income tax act, 1922, applied only to such sums in regard to which there was an obligation on the part of the employer to pay and a vested right on the part of .....

Maruti Udyog Limited Vs. Jt. Cit, Spl. Range 6

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)285ITR228(Delhi)

..... tribunal was that whether brought forward losses can be set off while determining business profits for the purpose of computing deduction under section 80hhc of the income-tax act, 1961, and not whether brought forward unabsorbed depreciation can be deducted in arriving at the business profits for the purpose of computing deduction under section 80hhc.hence ..... be deducted for the purpose of computing profits of the business as provided in explanation (baa) below sub-section (4-c) in section 80hhc of the income-tax act, 1961.for this contention, the ld. authorized representative for the assessee relied on the decision of the delhi, 'a' bench of the tribunal in the case ..... to be computed by applying provisions of section 28 to 44-d of the income-tax act, 1961. thus, while computing the business income, depreciation has to be deducted as per section 32 of the act.since section 32(2) of the act specifically provides for treating earlier years unabsorbed depreciation as a part of the current .....

industrial Finance Corpn. of Vs. Joint/Additional Commissioner

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)99ITD639(Delhi)

..... position as reflected in the assessee's annual accounts for the financial year 1995-96. during the year the assessee created special reserve under section 46(1)(viii) of the income-tax act amounting to rs. 12,906.18 lakhs. the assessee had an opening balance of rs. 26,963 lakhs as at 1 -4-1995. out of these amounts the ..... s counsel would have us believe. the income-tax officer had not formed any definite opinion at the stage of the original assessment which, it may be said, was changed by him subsequently. under these circumstances we hold that the reopening of the assessment was permissible under section 44(1)(b) of the act. the question referred to us is answered ..... of the high court merely because the case of the assessee was accepted as correct in the original assessment for this assessment year. it does not preclude the income-tax officer to reopen the assessment of an earlier year on the basis of his findings of fact made on the basis of fresh materials in the course of assessment .....

Deputy Commissioner of Vs. Delhi Press Samachar Patra (P.)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)101ITD253(Delhi)

..... order to make more claim under section 80-i, the assessing officer concluded that assessee's case was fully covered by provision of section 80-i(9) of income-tax act and the assessee was held to be not entitle to any deduction under the above section.11. the assessee before the assessing officer claimed that separate books of ..... in the result, appeal of the revenue is partly allowed for statistical purpose.1. in terms of section 255(4) of the income-tax act the following two questions were referred to the hon'ble president of income-tax appellate tribunal on account of difference of opinion between the two members of the bench: 1. whether on facts and in the ..... the tribunal, to pass an appropriate order in terms of sub-section (4) of section 255 of the income-tax act, for a resolution of the difference in the manner prescribed.2. in terms of section 255(4) of the income-tax act, the following two questions are framed to resolve the difference between the two learned members of the bench: 1 .....

Midland International Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)109ITD198(Delhi)

..... a result of letting out of the property so it was to be taken into consideration for determining the alv of the property in terms of section 23 of the income tax act. thereafter, the assessing officer worked out the alv of the property and enhanced the same by adding interest @ 15% on the average value of security deposit of rs. 19 ..... for this purpose of section 22 the annual value of the property shall be taken as the value determined by the assessing officer under section 23(1)(a) of income tax act and in case it is lesser than the actual rent received or receivable by the owner then the actual rent received or receivable shall be taken as the annual value ..... the assessee. the assessing officer has neither compared the actual rent received with the alv of the property determined under section 23(1)(a) for the purposes of income tax act under section 22 of the act.15. in any case for the purposes of clause (a) to section 23(1), which is relevant to the instant case, what is required to be .....

Deepak Chhabra Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

..... is permissible under section 254(2) also reveals another aspect of the matter. the provisions of section 260a were introduced into the income tax act with effect from 1-10-1998 by the finance (no. 2) act, 1998, providing for an appeal to the high court from the order passed by the tribunal if the case involves a ..... the assessee under section 254(2) of the income tax act. it is submitted that there are mistakes in the order of the tribunal which need rectification.2. the appeal before the tribunal was that of the income-tax department. the relevant grounds taken by the department were against the order of the cit (appeals) deleting (a) the addition of rs ..... the tribunal. in particular, it was submitted that the assessee's contention that the rate was not mentioned in the stock inventory and despite repeated queries, the income-tax authorities did not furnish the basis of the rate adopted by them for making the stock addition, was not considered by the tribunal. our attention in this .....

Prid Foramer S.A. Vs. Asstt Cit, Special Range

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the order of commissioner (appeals) dated 21-2-2003 for the assessment year1998-99, in the matter of order passed under section 201(1) of the income tax act, 1961 wherein following eight grounds of appeal have been raised: 1. that the learned commissioner (appeals) erred in law by upholding the order ofthe assessing officer that ..... of c.b.d.t. and applying the provisions of section 44bb read with section 90(2) of the income tax act, 1961 initially of taxing the proceeds as fees for technical services. on the other hand learned cit (dr) shri pandey relied on the orders of lower authorities and submitted that deeming provisions of section 44bb not ..... the assessee is "assessee in default" undersection 201 of the income tax act, 1961, for non-deduction of taxes ofemployees amounting to rs. 47,60,458 in spite of the fact that no tax waspayable on the remuneration of expatriates who fulfilled all the conditionsof exemption in terms of article xiv(2 .....

Wazir Chand Exports Vs. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... cit erred on facts and in law in exercising revisionary powers under section 263 holding that the assessment order dated ..... year 2001-02, in the matter of order passed under section 263 of the income tax act. (1) that on that facts and circumstances of the case and in law the order dated 30-3-2005 passed by the learned commissioner of income-tax, moradabad (cit) under section 263 of the income tax act, 1961 ('the act') is beyond jurisdiction, bad in law and void ab initio. (1.1) that the .....

ito Vs. Dr. Bobby Anand Chaurasia

Court : Income Tax Appellate Tribunal ITAT Delhi

..... in a particular manner. therefore, these instructions are binding on income-tax authorities.recent hon'ble supreme court in the case of tanna & modi v. cit , vide its order 17-5-2007, has observed that executive instructions are binding on the authorities under the income tax act, 1961.9. in view of the above discussion and keeping in view ..... the recent verdict of hon'ble supreme court mentioned hereinabove, the tax effect in the appeals undisputedly less than the prescribed limit of rs. 2 lakhs, i ..... 28-3-2000 was issued in suppression of all earlier instructions stipulating such limit of tax effect, 8. with regard to the binding nature of these instructions issued by the cbdt, on the income-tax authorities, the provisions of section 119 of income tax act are very much clear. on a plain reading of section 119, it is clear .....