Judgment Search Results Home > Cases Phrase: income tax act 1961 section 80rrb deduction in respect of royalty on patents Court: income tax appellate tribunal itat pune Page 1 of about 1 results (0.101 seconds)

U.B. Engineering Ltd. Vs. Jt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)1113ITD577(Pune.)

..... . 3,05,05,014/- for the assessment year 1995-96 was a mistake apparent from the record which had to be rectified under section 154 of the income-tax act, 1961. 2) the cit(a) is not justified in holding that the proceedings initiated by the a.c. under section 147 are valid proceedings.2. the assessee is a public limited ..... itr 665 (cal), after considering the decision of the hon'ble supreme court in the case of cit v. sun engineering works p. ltd. in proceedings under section 147 of the income-tax act, 1961, the income-tax officer may bring to charge items of income which had escaped assessment other than or in addition to that item or items which have led to ..... of opinion between the two members, the matter was referred to the hon'ble president of the income tax appellate tribunal, with a request that the question may be referred to a third member under section 255(4) of the income tax act, 1961. the hon'ble president has nominated me as third member to adjudicate on the following point of .....

Dhariwal Industries Ltd. Vs. Acit (inv.) and Addl. Cit, Range-1

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)111ITD379(Pune.)

..... by the assessee is not a tobacco preparation within the meaning of item no. 2 in the "list of articles or things" appearing in the eleventh schedule to the income-tax act, 1961. ld. cit(a) has given, in brief, the following reasons for his decision that gutkha is a not a "tobacco preparation" within the meaning of item no.2 in the ..... has to be rejected as the appellant would not be entitled to any allowance of deduction under section 80ia of the income-tax act, 1961 as held by the assessing officer and upheld by the hon'ble itat, pune bench. the cit(a) has thus erred in not even applying his judgment to the fact of the case, the deductions claimed under ..... an item covered by list of articles item no. 2 of schedule xi to income tax act 1961 and in directing the- assessing officer to withdraw deduction under section 80i of the i-t act, 1961. he ought not to have withdrawn the deduction under section 80-1 of i-t act, which was rightly allowed. 3. without prejudice to above grounds of appeal, .....

thermax Babcock and Wilcox Ltd. Vs. Addl. Commissioner of It, Spl.

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)304ITR130(Pune.)

..... )'s order dt 8.1.2001 in the matter of an assessment made under section 143(3) of the income-tax act, 1961 (hereinafter referred to as the act) for the assessment year 97-98. 1. the id cit (a) erred in confirming disallowance of expenditure on account of land lease charges rs. 46. 163/- rejecting the contention of the appellant that the ..... having regard to the accepted commercial practice, and trading principles, was a deduction which, if there was no specific provision for it under section 10(2) of the income-tax act. was certainly an allowable deduction, in arriving at the profits and gains of the business of the appellant, under section 10(1) of the ..... act, there being no prohibition against it, express or implied, in the act. the expression "profits or gains" in section 10(1) of the income-tax act has to be understood in its commercial sense and there can he no computation of such profits and gains .....

Kirloskar Electrodyne Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

..... .in accordance with the provisions of section 255(4) of the income-tax act, 1961, the following points of difference of opinion are referred to the president of the income-tax appellate tribunal : (1) whether the issue of purchase/sales-tax set off involves the question of accounting of income (2) in case the answer to question no. 1 is ..... gone wrong in holding that the expenditure incurred on company employees should also be held as 'entertainment expenditure' for calculation of disallowance under section 37(2a) of income-tax act.20. the learned dr, on the other hand, relied on the orders of the authorities.21. we have considered the submissions of the parties and find ..... to recompute the disallowances.17. the next ground of appeal in ita no. 1581/pn/90 is regarding disallowance of entertainment expenses under section 37(2a) of income-tax act.18. the assessee, as per its own calculation, disallowed rs. 48,600 but, the assessing officer has disallowed rs. 1,02,204 on account of ' .....

thermax Babcock and Wilcox Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

..... the hon'ble supreme court has clearly held that in order to claim the deduction on account of development rebate under section 33(1) of the income-tax act, 1961, it is obligatory that the debit entries on the profit and loss account and the credit entry in a reserve account should be made in the ..... the case of mitsubishi motors (supra) it has been held that the warranty provision was a deductible expenditure. this case though decided under the new zealand income-tax act, supports the principle of measurement of profit on accepted trading principles and generally accepted accounting principles, thus unless the statute expressly or impliedly provided to the ..... mitsubishi motors new zealand ltd. (supra), the ld. d.r submitted that the decision was delivered under the income-tax act of new zealand and there being material difference between the provisions of income-tax in new zealand and income-tax in india, the said decision has no relevance. the ld. d.r. accordingly, concluded that the action .....

The Dhanvarsha Builders and Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2006)102ITD375(Pune.)

..... possession or control in the books of account etc. the section also provides that the statement so recorded may thereafter be used in evidence in any proceedings under the income-tax act. the authorized officer, had validly examined shri akalank under the aforesaid section and, therefore, his statement can be used in evidence (emphasize supplied) in the proceedings ..... order of the dcit, sr.aurangabad (hereinafter called the ao), passed on 22.11.2998, under the provisions of section 158bc read with section 144 of the it act, 1961.2.1 the assessee had taken up 8 grounds of appeal and subsequently, 12 more grounds were taken up as additional grounds of appeal. the additional grounds pertain ..... high court in the case of green view restaurant v. acit (2003) 263 itr 169. in that case, certain additions were made by way of undisclosed income by acting on the statements made to that effect by one of the partners of the assessee firm. the assessee's contention was that the statements were recorded by .....

Bhagwandas Associates, Trade Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

..... 32ab in view of the relief allowed by the hon'ble itat. the issue under consideration is regarding the correct amount of deduction allowable under section 32ab of the income tax act, 1961. the appellant had claimed the deduction under section 32ab of rs. 2,04,985/- based on the audit report. however, the assessing officer had allowed deduction ..... by hon'ble madhya pradesh high court that in the fresh assessment proceedings after the original assessment had been set aside, the ito had no jurisdiction to tax new source of income cit v. late jawaharlal nagpal 171 itr 136. the a.o. is duty bound to confine himself to follow the directions of the appellate authority which ..... much beyond the prescribed limitation. it has also been explained that the powers of revision of an order under section 263 which lies with the commissioner of income tax within 2 years from the end of the financial year in which the order sought to be revised was passed, hence for invoking this section the prescribed time .....

Rajmal Lakhichand Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2001)79ITD84(Pune.)

..... found out by the customs authorities and dri officers and cegat are either irrelevant or factually incorrect or have no bearing on the proceedings under the income tax act. however, nothing of this kind has been done by the assessee. therefore, in view of the finding of facts of the cegat, the assessing ..... assessment relied upon, inter alia, material collected by the income tax investigation commission. it was held by the honble high court that the reliance by the income tax officer on the material collected by the income tax investigation commission was correct, even though the act under which the income tax investigation commission was constituted was declared ultra vires by the ..... order of the cegat. he pointed out that under the relevant provisions of the customs and central excise and gold control act, the cegat is the final fact finding authority like the income tax appellate tribunal. the assessing officer had gone through the order of the customs, the dri authorities, the news paper .....

Late Shri Ajit J. Mehta Vs. Jt. Commissinoer of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2006)101ITD11(Pune.)

..... the valuation of jewellery made by the hon'ble tribunal was not accepted for the purpose of valuation under the income-tax act. however, the reasons for non-acceptance were peculiar to the facts of the case, namely, that even the ..... the tribunal for deciding the matter afresh. we are of the view that the ratio of that decision, though given under the wealth-tax act, is fully applicable to the facts of this case.3.2. coming to the facts of the case, the assessee had filed valuation ..... has taken up (seven grounds of appeal. ground nos. 6 & 7 are in the nature of prayer and residuary ground, which do not require any decision from us. the main ground of appeal is that the learned cit(a) ..... assessee arises out of the order of cit(a)-i, pune, passed on 27.09.1999. the corresponding order of assessment was made by the dcit, sr-2, pune (hereinafter called the ao), under the provisions of section 143(3) of the it act, 1961, on 26.02.1998. the assessee .....

Alfa Laval India Ltd. Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)298ITR333(Pune.)

..... )-iii, pune, passed on 17.03.2003. the corresponding assessment order was passed by the assistant commissioner of income- tax, circle-8, pune, on 10.07.2002, under the provisions of section 143(3) of the income-tax act, 1961 (for short the act). the other appeals in this case were sought to be consolidated on 10.8.2006 by obtaining the order ..... ground no. 5 is against the finding of the learned cit(appeals) in which ad-hoc disallowance of rs. 25,000/- was confirmed in respect of expenditure incurred for earning dividend income of rs. 1,05,86,142/-, in computation of book profit under section 115ja of the act.17.1 before as, the learned counsel relied on the decision ..... of hon'ble bombay high court in the case of cit v. general insurance corporation of india (no 1) . the .....