Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1992)42ITD285(Delhi)
..... claiming the credit for the same in its assessment. the assessing officer completed the assessment of the assessee at nil, and allowed credit of the tax deducted at source.3. cit issued a notice under section 263 of the income-tax act, to the assessee dated oct. 7,1985 stating therein, that, the assessing officer had wrongly allowed credit of ..... tax rs. 3.41,896, when there was no assessable income at all. cit in his order observed that. sail had deposited the tax of rs. 3,41,896 into the treasury only ..... while doing so, retained part of the amount towards the income-tax, from out of the payments credited or paid to the appellant company. sail, therefore, issued a certificate of deduction of tax under section 203 of the act to the assessee. the amount that was deducted towards income-tax was rs. 3,41,896. the assessee filed its return .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1993)45ITD227(Delhi)
..... find that the assessee is a company within the meaning of section 25 of the companies act and is also registered under section 12a of the income-tax act, 1961. the commissioner of income-tax (appeals) reversed the order of the assessing officer mainly on the ground that one of the objects may be as ..... primary purpose was an object of public utility not involving the carrying on of any activity for profit within the meaning of section 2(15) of the income-tax act, 1961. it was, therefore, held in that case that the assessee was entitled to exemption under section 11(1)(a). in the case before us, we ..... assessee is engaged in business activity and it does not, therefore, qualify as a trust engaged in a charitable activity under section 2(15) of the income-tax act, 1961. the learned departmental representative has argued vehemently that the assessee association is an organisation primarily created for the promotion and protection of trade and manufacture of vanaspati .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1993)46ITD312(Delhi)
..... , would amount to 'manufacture or processing of goods' within the meaning of section 104(a) of the income-tax act, 1961, has been considered by the board. the board are advised that a cinema film suitable for exhibition is entirely different from the raw unexposed film which ..... films would amount to the manufacture or processing of goods within the meaning of section 104(4) (a) of the income-tax act, 1961. 1. under sub-section 7(d) of section 2 of the finance act, 1966, an "industrial company' means a company which is mainly engaged in the business of generation or distribution of ..... now come to what the board had to say in the following circulars: subject: income-tax act, 1961 - production of films, whether an activity in the nature of manufacture or processing of goods within the meaning of section 104(4) (a) of the income-tax act, 1961 - instructions regarding. the question whether production of cinematographic films, i.e., motion pictures .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)49ITD207(Delhi)
..... during assessment year 1978-79) and no. 4 (started during this year) are separate industrial undertakings and satisfy all the conditions laid down under sections 80j of the income-tax act.the assessing officer, in his order had refused to allow deduction under sections 80j on the ground that, the appellant did not have separate books of accounts and had ..... 6-1980, has not been challenged by the assessee, as an incorrect observation or as wrong on facts and to this extent, the cit (appeals), could not have allowed relief under sections 80j of the act, to the assessee-company. moreover, it is not the case of the assessee that, it is not manufacturing the article specified in the ..... eleventh schedule or that, it had commenced production prior to 1 -4-1979. therefore, we have to reverse the order of cit (appeals) on the grant of deduction under sections 80j of the act on glost kiln no.4. the deduction allowed in respect of the other units, in our view, is proper and in accordance with .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1993)47ITD1(Delhi)
..... no objection from the department that, they are not so placed before the authorities below. because, the issue revolves around the interpretation of the provisions of section 80hhc of the income-tax act, we shall reproduce the section as it existed for the relevant assessment year under appeal hereunder for the sake of facility : 80hhc. deduction in respect of profits related to export ..... the deduction under section 80hhc and claimed that, "the deduction under section 80hhc should have been allowed of the entire income computed under the head 'profits and gains from business or profession' according to chapter iv-d and other provisions of the it act, 1961". the assessee contended that, the ao could not have considered the turnover of other exporters, from whom, the assessee .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)49ITD50(Delhi)
..... in considering the belated applications at the stage of assessment for purposes of determination of the issue relating to carry forward of loss under section 80 of the income-tax act, 1961. since, we are of the considered view that the assessing officer is duty bound to dispose of the applications filed even after the expiry of the time ..... ...19... signature name (in capital letters) 2. the application should be signed by a person who is entitled to sign a return of income as provided in section 140 of the income-tax act, 1961.it is evident from proviso to section 139(1), rule 13 and form no. 6 that no time limit is prescribed for furnishing of ..... be in form no. 6. application/or extension of the date for furnishing a return of income under section 139 of the income-tax act, 1961under section 139(1)/(2)/(3) of the income-tax act, 1961, i/we have to filethe return of my/ our income...the income of......in respect of which i/we am/are assessable for theassessment year commencing on the lst .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1993)47ITD454(Delhi)
..... and "includes", whether it is exhaustive or not.3. the principle of ejusdem generis has come for interpretation before the supreme court in several cases both in connection with the income-tax act and in general laws and in the case of siddeshwari cotton mills (p.) ltd. (supra), the supreme court held: the expression ejusdem generis - 'of the same ..... a correct approach. in the case of keshavji ravji & co. (supra), the supreme court while dealing with the interpretation of section 40(b) of the income-tax act in the context of a circular issued by the board considered the question whether the board could issue a circular interpreting the law in a manner opposed to the ..... exchange before the 1st day of october, 1992; (ii) any expenditure which is incurred, by persons within the purview of the vienna convention on diplomatic relations, 1961 or the vienna convention to consular relations, 1963; (iii) any expenditure incurred in any shop or in any office which is not owned or managed by the person .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)49ITD590(Delhi)
..... bombay high off-shore oil rigs, has filed these appeals. for the assessment year 1984-85, the appeals are against the order of the commissioner of income-tax (cit) passed under section 263 of the income-tax act, 1961 and against the order of cit(a) arising out of the reversionary proceedings. the appeals for the assessment years 1985-86 & 1986-87 are arising from the order of ..... have been perused and the case laws relied upon have also been perused. the controversy being related to the notification dated 31-3-1993, which extended the applicability of the income-tax act, 1961, to the continental shelf and the exclusive economic zone of india, we reproduce the same.gsr 304(e): in exercise of the powers conferred by clause (a) of sub-section .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)50ITD51(Delhi)
..... established by the assessee. the revenue has taken a very narrow view of the matter and clearly ignored the purpose of legislature in enacting section 80hhc of the income-tax act, 1961, which was to encourage export for earning foreign exchange. the provisions, in our considered opinion, should be construed liberally to advance the aforesaid object.17. we ..... to the facts brought on record by the assessee we are of the view that the assessee is entitled to benefit under section 80 hhc of the income-tax act, 1961.12. it is no doubt true that in the books the assessee has shown purchases of carcasses of buffaloes and goats but from this, it does not ..... the assessee further contended that word "manufacturer" is not defined in section 80hhc but should have the same meaning as given in sections 10a and 10b of the income-tax act, 1961 as the above two sections and section 80hhc were introduced to serve the same purpose, le., to encourage earning of foreign exchange. the assessee in this connection .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)51ITD582(Delhi)
..... by dm in india and hence the hire charges so received by it arose and accrued in india according to the provisions of section 5(2) of the income-tax act, 1961. he also noted that, since dm itself was not engaged in the business of hiring of ships for exploration of oils, the provisions of section 44bb for determination ..... taxed in india because of the provisions of double taxation agreement between india & uk (dta).2. ..... by the department is with reference to the provision of tax that should have been deducted from the payment of hire charges of ship that is contained in section 195(2) of the income-tax act, 1961 ('the act'). the objection of the department in the present appeal is on the conclusion by the cit(a) that the hire charges is not liable to be .....
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