Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Court: income tax appellate tribunal itat delhi Page 5 of about 1,960 results (0.154 seconds)

P.S. Sarine Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1988)25ITD345(Delhi)

..... new delhi is co-owned, the assessee having 50 per cent share. as such the ownership of the assessee is fractional one. the net assessed income from both these properties under the provisions of the income-tax act, 1961, is stated to be rs. 71,439, i.e., these are the net rentals after allowing all deductions.2. with the above facts ..... as the background, the valuation has to be made under the provisions of the wealth-tax act, 1957 and for the said purpose section 7 of the act, which deals with the ..... difference of opinion having occurred between us the file is being placed before the worthy president of the income-tax appellate tribunal for proceeding further in the matter in terms of the provisions of the above section read with section 255 of the it act, 1961. the point for opinion is as under: (b) whether, on the facts and in the .....

East West Rescue Pvt. Ltd. Vs. Dy. Cit, Spl. Range 14

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)89ITD259(Delhi)

..... final orders. in view of these facts, the hon'ble high court has held that there was no order of the tribunal from which reference u/s. 66 of the income tax act, 1961 could arise as the case was not decided according to the law.31. so far as the present case is concerned, the learned third member has not formulated any new ..... .b.d.t. circular no. 700 dated 23rd march, 1995. 31. in the final analysis, i uphold the view taken by the tax authorities in rejecting the assessee's claim for deduction u/s. 80-o of the income tax act, 1961. the matter may be placed before the division bench of passing an order in accordance with the majority view." 11. in the miscellaneous ..... to the wife by the husband. in deciding this point, he relied upon sub-section (3) of section 16 of the income tax act, 1961. since this point was not referred to the learned third member and u/s. 5a(7) of the act, he was competent to decide the only point referred to him. it was held that the leaned third member was not .....

The Asst. Commissioner of Vs. Madan Mohan Lal Shriram Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... till the date of registration of the sale deed, there is no relinquishment or extinguishment of the right in the property within the meaning of section 2(47) of the income tax act, 1961. the four judgments given by the sr. d.r. in his comments on the assessee's submissions, i.e. 155 itr 277 (kar.), 154 itr 478 (del), ..... which was covered by the clause (v) of sec.2(47) of the it act 1961. the only question now to be decided is whether this clause which was introduced in the income-tax act with effect from 1.4.1988 as a retrospective effect or not".the action of the cit(a), in not treating the transaction covered under clause (ii) has been accepted ..... high courts of delhi and andhra pradesh." 43. while coming to the conclusion what the supreme court did, it took a view under a specific section of the income tax act by holding that the amendment was intended to supply an obvious omission and that the amendment introduced by the finance bill 1987 was declaratory or clarificatory in nature in so .....

Sakun International Vs. Joint Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)94ITD138(Delhi)

..... 29-10-1998 for the block period from 1-4-86 to 10-10-96 in the case of the assessee, passed under section 158bc/158bd of the income-tax act.2. shri c.s. agarwal, senior advocate along with shri r.k. gupta, chartered accountant appeared for the assesses while shri amitab mishra, senior d.r ..... detailed arguments with regard to the following grounds : 1. that assessment proceedings under section 158bd of the i.t. act, 1961 are without jurisdiction in the absence of any satisfaction recorded by the ld.a.o. for existence of any undisclosed income belonging to the applicant. 2. that under the facts and circumstances of the case, the asstt. order is again ..... are required to prepare true and correct return of your total income including the undisclosed income in respect of which you as individual hue firm company, aop scl local authority are assessable for the block period mentioned in section 158b(a) of the i.t. act, 1961. the return should be in the prescribed form no. 28 and be delivered in this .....

Asstt. Cit Vs. Doon Valley Motors

Court : Income Tax Appellate Tribunal ITAT Delhi

..... daughter-in-law.he thus justified the order of the assessing officer with regard to excessive payment made to persons falling under section 40a(2)(b) of the income-tax act, 1961.7. on the other hand, it was contended that by the learned ar that all the persons were being paid salary and incentive as per their technical ..... during the course of assessment under section 143(3), the assessing officer disallowed part of the payment by invoking the provisions of section 40a(2) of the income tax act, 1961 on the allegations that payment was excessive and unreasonable. with regard to payment of salary and incentive to shri amit oberoi, it was submitted before the assessing officer ..... the assessment year 2001-02, in the matter of order passed by the assessing officer under section 143(3) of the income tax act, 1961. the grounds of the revenue are as under: 1. that the learned cit (appeals)-i, dehradun has erred in law and on facts in deleting the addition made by applying the provisions of section .....

Kanha Vanaspati Ltd. Vs. Additional Cit, Range-50

Court : Income Tax Appellate Tribunal ITAT Delhi

..... charges paid in respect of moneys borrowed and aimed to alert the public in general and the taxpayer in particular about the enlarged scope of the word "interest" under the income tax act. therefore, any doubt lingering in the minds of assessees about the definition of the "interest" was allayed by the public circular issued in 1976. he, further observed that "reasonable cause ..... not be treated as an assessee in default because the deductees had paid the taxes on their respective income that included the aforesaid income on account of bill discounting charges. also in the cases where tax was not deducted at source, in view of provision of section 191 of the act, the tax was payable by the payees and not by payer. if the department was .....

Asstt. Cit Vs. K.L. Jolly and Sons

Court : Income Tax Appellate Tribunal ITAT Delhi

..... to gifts and investment in property bearing no. b.205, greater kailash-i, are bad in law being beyond the scope of chapter xiv-b of the income tax act, 1961 and also contrary to the ratio of judgments reported.76. in support of the ground of cross objection, the contention of the learned counsel for the assessee before ..... limited to the material unearthed during the course of search. the observations of the hon'ble court are as under: block assessment under chapter xiv-b of the income tax act, 1961, is not intended to be a substitute for regular assessment. its scope and ambit is limited in that sense to materials unearthed during search. it is in ..... order of commissioner (appeals) upholding the validity of proceedings insofar as they relate to gifts, commission on gifts and rental income, are bad in law being beyond the scope of chapter xiv-b of the income tax act, 1961 and also contrary to the ratio of judgments reported.as the above ground raises a preliminary legal issue relating to the .....

Van Oord Acz India (P) Ltd. Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)112ITD79(Delhi)

..... dtaa cannot be attracted for discrimination. in this regard he has referred to para 55 of the oecd commentary on article 24. even otherwise, provisions of law (as per the income tax act) have to be followed even if hon'ble tribunal finds that provision of article 24 of the dtaa are attracted. the validity of provisions of section 195 or 40(a ..... by the hon'ble tribunal. it is submitted with the utmost respect that the hon'ble tribunal does not have jurisdiction to adjudicate upon the validity of a provision of income tax act - in view of the full bench decision of hon'ble supreme court in case of k.s. venkatrama and company pvt. ltd. v. state of madras .15. further he referred ..... to the case of saipan spa v. dcit and submitted that the same is also not relevant as it was decided in reference to 44bb of the income tax act. the hon'ble tribunal failed to appreciate that 44bb is a complete code as held by the hon'ble high court in the cases of oil india v .....

iqbal Chand Khurana Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1995)52ITD551(Delhi)

..... by the learned counsel for the assessee are against the assessee. similar receipts were held to be business receipts and not from "winnings from lotteries" for the purposes of income-tax act. on consideration of detailed judgment of hon'ble bombay high court in the case of commercial corporation of india ltd. (supra), we find that assessee in that case ..... heard together and are being disposed of through this consolidated order for the sake of convenience. the main controversy relates to denial of deduction under section 80tt of the income-tax act on the sum of rs. 2,14,78,116 and rs. 3,16,09,892 in the a.ys. 1984-85 and 1985-86, respectively which according ..... and secondly, the purchaser of lottery ticket has a right to participate in the draw. undoubtedly, it is a sale of goods and lastly it is an income liable to tax.on consideration of agreement their lordships held that assessee had entered into an agreement of agency where the goa state were the "principal" and assessee-petitioner an " .....

Assistant Commissioner of Vs. Trade Links Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1995)54ITD108(Delhi)

..... held as under :- in order to place an effective check on lavish expenditure on maintenance of guest houses, section 37(4) of the income-tax act; 1961, was inserted by the finance act, 1970, for disallowance altogether of expenditure incurred after february 28, 1970, on the maintenance of guest houses other than 'holiday homes', in ..... 1) of section 37 of the act. till 28th february, 1970, the expenditure incurred on the maintenance of guest house was allowed as a deduction in computing the profits and gains of business or profession. this was however subject to certain limits and conditions prescribed in rule 6c of the income-tax rules, 1962. the rule covers ..... time employees throughout the year.there were certain conditions prescribed for allowance of expenditure in respect of holiday homes also. rule 6c was however omitted by the income-tax (amendment) rules, 1973 with effect from 1-4-1972.subsequently, in order to place a check on lavish expenditure on maintenance of guest house, section .....