Judgment Search Results Home > Cases Phrase: income tax act 1961 section 6 residence in india Court: income tax appellate tribunal itat pune Page 1 of about 126 results (0.225 seconds)

First Income-tax Officer Vs. South India Corporation (A) Ltd.,

Court : Income Tax Appellate Tribunal ITAT Pune

..... the assessees are non-resident shipping companies assessed by the income-tax officer in the status of tramp ships under section 172(4) of the income-tax act, 1961. ..... in the assessments framed under section 172(4) originally, the income-tax officer had adopted the telegraphic transfer rate as supplied by the state bank of india for the purpose of converting the income into indian currency. ..... the circular issued by the central board of direct taxes, which the income-tax officer had subsequently received, indicated that the correct conversion rate is as per the intimation given by the central board of direct taxes or the reserve bank of india. ..... sub-section (1) to section 172 lays down that the provisions of that section shall apply for the purpose of levy and recovery of tax in the case of any ship belonging to or chartered by a non-resident, which carries passengers, livestock, mail or goods shipped at a port in india. ..... the incidence of tax under section 44b of the act is on a non-resident engaged in the business of operation of ships owned or chartered by him or it and if such income constituted the amounts earned on account of the carriage of passengers, livestock, mail or goods shipped from any port in india and the amount so received or deemed to be received in india by or on behalf of the assessee on account of the carriage of passengers, livestock, mail or goods, etc.in contrast, section 172 of the act does not refer to a non-resident assessee. .....

Deputy Commissioner of Income Tax Vs. Patni Computer Systems Limited

Court : Income Tax Appellate Tribunal ITAT Pune

..... srm firm (supra), and till these decisions had the seal of approval of the hon'ble supreme court in azadi bachao andolan's case (supra), a school of thought existed that in terms of the provisions of the indian income tax act, 1961, all the resident assessees were taxable in india on their worldwide income. ..... is an appeal filed by the assessing officer and is directed against the order dated 14th december 2004 passed by the cit(a) in the matter of assessment under section 143(3) of the income tax act, 1961, for the assessment year 2001-02.2. ..... 'ble high court observed that "this bar would operate on sections 4 and 5 of the income tax act, 1961". ..... it was not an intention of the legislature to make a departure from the general principles of chrgeability under section 4, and the general principles of ascertainment of total income under section 5 of the income tax act, then there was no purpose of making those sections "subject to the provisions of the act". ..... the provisions of section 90(2) of the indian income tax act are quite unambiguous and categorical in this ..... the very object of grafting the said two sections with the said clause is to enable the central government to issue a notification under section 90 towards implementation of the terms of the dta which would automatically over ride the provisions of the income tax act in the matter of ascertainment of chargeability to income tax and ascertainment of total income, to the extent of the inconsistency with the terms of dtac....9 .....

Salvi Divakar Shankar Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)66TTJ(Pune.)698

..... .a search and seizure action under section 132 of the income tax act, 1961, was carried out at the residence of the assessee. ..... tax salary income undisclosed income for assessment year 1987-88 to 1992-93 as follows : since there was nothing found in regard to the above income during the search and since even otherwise the salary received from reserve bank of india from which adequate and proper tax was deducted at source, such income could not be considered as 'undisclosed income' as defined.as the salary income for above years was not 'undisclosed income', ..... the learned assistant commissioner had no jurisdiction to assess the same under section ..... 1992-93 and xerox copies of salary pass book maintained by him and submitted that though he had not filed returns of income-tax was deducted at source by the reserve bank of india. ..... of the assessing officer to hold that the salary received by the assessee from reserve bank of india was undisclosed income of the assessee for the block period 1987-88 to 1992-93.the learned departmental representative strongly supported the .....

Agencia Geral (P.) Ltd. Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1993)45ITD243(Pune.)

..... section 172(1) contains a non obstante clause stating that the provisions of section 172 shall, notwithstanding anything contained in the other provisions of this act (income-tax act, 1961) apply for the purpose of the levy and recovery of tax in the case of any ship, belonging to or chartered by a non-resident, which carries passengers, livestock, mail or goods shipped at a port in india ..... appellant, the argument of the learned departmental representative and the record.the case of the assessee falls, no doubt, under section 172 of the income-tax act, 1961 pertaining to shipping business of non-resident.this section falls in chapter xv of the income-tax act which provides for liability in special cases. ..... is made to appeal against the order under section 172(4) is technically correct as per the provisions of the income-tax act, 1961.the relief sought by the assessee is an extraordinary relief based on the double taxation avoidance agreement for which the course open to the assessee is to seek refund under section 237 of the income-tax act and the ito is duty bound to consider the same, because the directions of the government of india are binding on him.9. ..... taxation avoidance agreements which have been entered into by the central government under section 90 of the income-tax act, 1961, also provide that the laws in force in either country will continue to govern the assessment and taxation of income in the respective country except where provisions to the contrary have been made .....

income-tax Officer Vs. Mahesh M. Chandan

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1993)46ITD264(Pune.)

..... section 5 of the income-tax act, 1961 provides the scope of total income which includes all income from whatever source derived which is received or deemed to be received in india or accrues or arises or is deemed to accrue or arise to him in india during the previous year or accrues or arises to him outside india during such year in the case of a resident. ..... 5,000 respectively for these years under section 271a of the income-tax act, 1961 for the failure of the assessee to maintain books of accounts as required under section 44aa of the income-tax act without reasonable cause. ..... cit(a), nashik range, nashik dated 22-8-1991 wherein he has cancelled the penalties levied by the assessing officer under section 271a of the income-tax act, 1961 for the failure of the assessee for not maintaining books of accounts without reasonable cause as contemplated by section 44aa of the income-tax act, 1961. ..... in order to appreciate the controversy, it is considered necessary to refer section 44aa of the income-tax act, 1961 which reads as under: section 44aa : (1) every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the board in the official gazette shall keep and maintain such books of accounts and other documents as may enable the assessing officer to compute his total income in accordance with the provisions of this act. .....

Assistant Commissioner of Vs. Club of Mahabaleshwar

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1993)44ITD520(Pune.)

..... similarly, under section 21aa of the wealth tax act, 1957 which is similar to section 167a/167b of the income-tax act, 1961 holding of assets chargeable to tax under the wealth tax act by an aop in which the individual shares of the members of the association in the income or assets or both are indeterminate or unknown on the date of its formation or at any time thereafter tax is levied at the maximum marginal rate applicable to an individual who is a citizen and resident of india. ..... 166) issued under section 167a of the income-tax act, 1961 which is similar to section 21aa of the wealth-tax act and which has been inserted by the very same finance act 1981 with effect from 1-4-1981 to counter the tax avoidance adopted by persons by creating multifarious association of persons wherein the individual shares of the members in income of the aop remained indeterminate or unknown.while clarifying the intent and purpose of section 167a the board has pointed out that in the cases of registered societies ..... the ap high court pointed out that since there was no definition of association of persons under the wealth-tax act, 1957, the expression has to be understood in the same sense it is used in the income-tax act, 1961 and if so, the principle of board's circular applied with equal force in the case of aop under the wealth-tax act also.15. .....

Ranchhoddas M. Sugnadhi Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1983)4ITD62(Pune.)

..... it is held in that case "section 54 of the income-tax act, 1961 deals with the profit on sale of property for residence. ..... this is an assessee's appeal preferred against the order of the aac and two grounds are raised: (7) that the aac erred in rejecting the claim of the assessee under section 54(1) of the income-tax act, 1961 ('the act'), and that the benefits of section 54(1) are available to a huf also, and (2) that the aac erred in holding that the capital gain arising on transfer of bungalow is a short-term capital gain.2. ..... the high court held as under: the word 'assessee' as defined by section 2(7) of the income-tax act, 1961, includes every person who is a 'unit of assessment' and the definition of 'person' in section 2(31) is wide enough to include every artificial juridical person including a huf, a partnership firm, etc. ..... out that the reliance placed on the case of banarsi dass (supra) is not relevant for our purpose as the supreme court was dealing with the word 'individual' in entry 86 of list i of schedule vii to the constitution of india which takes within its sweep groups of individuals like hufs and parliament is competent to levy a tax on the capital value of the assets of hufs. ..... however, it must be borne in mind that the supreme court was dealing with and interpreting the word 'individual' in entry 86 of list i of schedule vii to the constitution of india. .....

Hotel Vrindavan Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2000)67TTJ(Pune.)139

..... it is mainly restaurant and tea shop.a survey operation under section 133a of the income tax act, 1961, was taken at the business premises of the assessee-firm on 27-6-1996.simultaneously, the search operation under section 132 of the act was carried on at various business and residential premises of the kamat group ..... as a result of search operation, the assessment has been completed under section 158bc of the income tax act, 1961 for the block period 1987-88 to 1997-98. ..... , the learned counsel for the assessee submitted that the fact of ownership of the fixed deposits claimed by the assessee out of undisclosed income of the firm, the same should have been assessed on substantive basis. ..... such undisclosed income must come as a result of search this section does not provide a licence to the revenue for making roving enquiries connected with the completed ..... 5 lakhs on account of fixed deposits, with mahaveer pat sanstha as undisclosed income of the firm and the same ought to have been accepted by the assessing officer.shri c. ..... the search action under section 132 of the act was also conducted at the residential premises of shri ..... 2,64,644 for different years separately even though the undisclosed income on account of suppression of sales was separately calculated.the amount of ..... patankar and also at the residence of other partner shri m.v.kamat on 27-6-1996 ..... the search action was conducted at the residence of partner shri v.r. ..... during the course of search action at the residence of shri d.c. .....

Abbasbhai E. Lokhandwala Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1990)35ITD50(Pune.)

..... result, assessee succeeds and appeal on this ground is allowed.the following difference of opinion is 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, the addition of rs. ..... the value of gold jewellery of 406.9 grams is justified the following difference of opinion is 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, the addition of rs. ..... and added the same to the income of the assessee under section 69a of the income-tax act, 1961 as on the date of search ..... about the nature and source of acquisition of the money, bullion, jewellery or other valuable article, or the explanation offered by him is not, in the opinion of the income-tax officer, satisfactory, the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income of the assessee for such financial year.he stated that merely because a sort of cash-flow statement was prepared by the assessees to show that they ..... facts very briefly, there was a search conducted by the department on 21-3-1984 at the residence of shri abbasbhai e.lokhandwala, hereinafter referred to as "ael". ..... to the acquisition of some other assets like units of the unit trust of india, some two wheelers etc ..... utilised for purchasing furniture, scooter and certificates from unit trust of india etc. .....

Shri Shetty G.D. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)112ITD103(Pune.)

..... . in the context of section 22 of the income-tax act, 1961 having regard to the ground realities and further having regard to the object of the income-tax act, namely, to tax the income, "owner" is a person who is entitled to receive income from the property in his own right ..... it is further stated by the ao in his assessment order that subsequently, on the basis of the information available on record, it was found that the assessee was residing in a flat no. ..... . 5) possession of the flat was with the assessee for the last many years, and it was occupied by him as residence ..... specific flat in such a building which is being constructed by the society and whether he has made a substantial investment within the prescribed period which will entitle him to obtain possession of the flat so constructed and in which he intends to reside ..... a building which is being constructed by the society and whether she has made a substantial investment within the prescribed period which will entitle her to obtain possession of the flat so constructed and in which she intends to reside. ..... 4) possession of the flat is with the assessee for the last many years and it is occupied by him as residence. .....