Judgment Search Results Home > Cases Phrase: income tax act 1961 section 161 liability of representative assessee Court: income tax appellate tribunal itat delhi Page 1 of about 534 results (0.176 seconds)

income-tax Officer Vs. Deepak Agarwal (P) Family Trust

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)45ITD127(Delhi)

..... before him, apart from the merits, was whether an order passed under section 143(1) of the income-tax act, 1961, was at all appealable. section 143(1) of the income-tax act, 1961, as substituted by the taxation laws (amendment) act, 1970, with effect from april 1, 1971, introduced a totally different procedure than obtaining earlier to the ..... . according to the learned departmental representative no appeal could lie against an order under section 143(1), in terms of section 246 of the income-tax act, 1961, and that the appellate assistant commissioner erred in holding that an appeal would lie against an order under section 143(1). even the presumption ..... of persons unspecifie'd shares is not permissible under section 143(1) of the income-tax act. 4. the appellate assistant commissioner was not justified in directing the income-tax officer to charge tax under section 161/166 of the income-tax act, 1961. the order of the learned appellate assistant commissioner being erroneous to set aside and .....

income-tax Officer Vs. Sanak Steel Tubes (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1988)27ITD619(Delhi)

..... ) except that the work out of the deduction under section 80j requires to be gone through afresh, since deduction in terms of chapter vi-a of the income-tax act, 1961 in lieu of 80j relief for deficiency and otherwise is to be allowed in accordance with law and accordingly we will direct the assessing officer to work out the same ..... chapter vi-a of the income-tax act, 1961. hence the computation has to be in accordance with the explanation reproduced hereinabove.4.1 that apart chapter vi-a of the income-tax act provides for deductions to be made in computing 'total income' under section 80b(5), 'total gross income' has been defined as the total income computed in accordance with the provisions of the income-tax act before making any deduction .....

Slocum Investment P. Ltd. (Now Vs. the Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

..... to question the loan amount which was the subject matter of a regular assessment, while making block assessment, the court held as follows: the explanation to section 158ba of the income-tax act, 1961 makes it clear that the legislature thought it fit to make a distinction between the block assessment and the regular assessment. in the case of regular assessment, the assessing officer ..... country. it has an independent board having 3 non-resident directions in addition to mr. shiv nadar as director. further, as per clause (ii) of section 6(3) of the income tax act, 1961, m/s vsipl (m) is not a company resident in india as the control and management of its affairs is situated wholly outside india and all decisions are taken by .....

Slocum Investment (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)101TTJ(Delhi)558

..... re (1941) 9 itr 95 (bom) wherein it was held that tax is not imposed on income generally. it is imposed on the income of a person, natural or artificial, as defined in section 3. the tribunal thereafter, referred to the various provisions in the it act, 1961, for initiating proceedings for assessment of income in the case of death of different assessees. in the case of ..... seized during the search and therefore clearly falls within the meaning of 'undisclosed income' defined in chapter xiv of the it act, 1961.82. the learned counsel submitted even as per the ao the transfer of shares by the assessee to the non-resident was with the view to avoid capital gain tax that may arise in future. if this was the conclusion of the .....

M/S. L.G. Electronics India Private Limited Vs. the Asstt. Commissione ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... ld. ar contended that the us regulations incorporate the bright line test within its legislation. in the absence of any such incorporation under the relevant provisions of the income-tax act, 1961, the ld. ar contended that taking cognizance of this test for denial of deduction of amp expenses was unwarranted. it was further submitted that the revenue authorities ..... notice during the course of proceedings. 7.2. the ld. counsel submitted that section 92ca of the income-tax act, 1961 (hereinafter also called `the act') has undergone certain changes. he referred to sub-section (2a) of section 92ca, inserted by the finance act 2011 w.e.f. 1-6-2011, as per which, where any other international transaction, apart ..... arm's length, it can be adjusted to bring it at arm's length, with reference to and under the chapter x of the income tax act, 1961, and not otherwise. 25. the finance act, 2001, has substituted the existing section 92 by new section 92 and 92a to 92f. according to the above provisions .....

M/S Integra Capital Management Ltd. Vs. Dcit, Circle 11(1)

Court : Income Tax Appellate Tribunal ITAT Delhi

..... on 29.2.2008 notice under section 263 of the income tax act, 1961 was issued by the commissioner of income tax (appeals)_iv, new delhi. thereafter an order under section 263 of the income tax act, 1961 was passed on 28.3.2008 setting aside the order under section 2 143(3) of the income tax act, 1961 dt. 28.2.2006 and the assessing officer was ..... dt. 25.9.2009 upheld the order under section 263 of the income tax act, 1961. 4. the assessing officer initiated fresh assessment proceedings. on 7.11.2008 he passed a fresh assessment order under section 143(3) of the income tax act, 1961 read with s.263 of the income tax act, 1961 at para 1.2 wherein it was held as follows:- "1. ..... clear that this expenditure, in the assessee's view, was in the revenue field. 18. the commissioner of income tax (appeals) was wrong to record that the cit-iv in his order under section 263 of the income tax act, 1961 directed the assessing officer to treat the entire expenditure of rs.9,49,039/- as capital in nature and .....

Sumitomo Corporation India Private Limited Vs. Deputy Commissioner of ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... was also required to explain as to why berry ratio was used to benchmark international transaction of the tested party. transfer pricing officer noted that the income tax act or income tax rule do not permit the use of 'operating expenses' in the base which do not include the cost of sales. in accordance with the provision of ..... to state whether similar 'gross profit' and 'cost' have been adopted in the case of comparables also. 5. it may be mentioned over here the income tax act or income tax rules do not permit the use of 'operating expenses' in the base which do not include the cost of sales. in accordance with the provision of rule ..... uncontrolled transaction to account for the material impact of the economic differences between the controlled and uncontrolled transactions as mandated under rule 10b(3) of the income tax rules 1961. 6. that the learned aoitpoidrp has erred in holding that the appellant has created human and supply chain intangibles for which it is not being adequately .....

Dy. Commissioner of Income Tax and Another Vs. M/S Chandra Global Fina ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... for scrutiny and a notice u/s 143(2) of the income tax act, 1961 (for short the act) was served on the assessee. during the assessment proceedings, the assessing officer observed that the assessee had an income from sale of investment and he treated the same as business income instead of income under the head "capital gains". with this observation, the amount ..... case, the ld. cit(a) has erred in confirming the addition of rs.38,637/-." c.o. no.1 ..... on the facts and in the circumstances of the case, the ld. cit(a)-iv, new delhi has erred in confirming the disallowance of rs.23,087/- u/s 14a of the i.t. act, 1961 on estimated basis without identifying any expenditure incurred for earning tax free/exempted income. 2. that on the facts and in the circumstances of the .....

Romer Labs Singapore Pte. Ltd. Vs. Adit, Tax Circle 2(1)

Court : Income Tax Appellate Tribunal ITAT Delhi

..... from this authority on the question whether the fee was taxable in india. the authority ruled: (i) there is some difference between section 9 of the income-tax act, 1961 and article 12 of the agreement for the avoidance of double taxation between india and canada in the definition of fee for technical/included services , inasmuch as the ..... limited (288 itr 408). 7. that, on facts and circumstances of the case and in law, the learned cit (a) erred in upholding levy of interest under section 234a, 234b and 234c of the income-tax act, 1961. the only issue involved in these grounds is regarding taxability of rs.28,76,271/- which the assessee received for ..... is at variance from the definition of fees for technical services as per the indian income-tax act, 1961 and definition of fee for technical services under indo-france tax treaty and also definition of royalty under indo-canada and indo-usa tax treaty. for this purpose, the ld. ar submitted a chart which is reproduced as under:-definition .....

M/S Filatex India Ltd. and Another Vs. Dcit and Another

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the position is perhaps a little simpler because it is a recurrent claim. under the definition contained under section 32 read with section 43(1) and (6) of income tax act, the depreciation as to be allowed on thereof in earlier years, thus, where the cost of assets subsequently goes up because of devaluation, whatever might have been ..... the case may be with reference to rate prevailing on last days of financial year in which that fluctuation occurs." 9. considering the above, ld. commissioner of income tax (a) held that he was of the opinion that before amendment to section 43a any loss suffered by the assessee on account of foreign exchange fluctuation has to ..... 23,324/-22001-0217,88,990/-32002-0327,29,513/-42003-0431,71,944/-52004-0511,21,235/- total91,84,006/- 3. before the ld. commissioner of income tax (a) assessee submitted that the allegations of suppression of sales against the assessee was erroneous. it was submitted that certain documents were seized by the excise authorities which .....