Judgment Search Results Home > Cases Phrase: merchant shipping amendment act 2003 section 4 amendment of section 356j Sorted by: old Court: income tax appellate tribunal itat mumbai Page 1 of about 13 results (0.207 seconds)

Capt. A.L. Fernandes Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)81ITD203(Mum.)

..... is not subjected to tax in india. 2. after the amendment made in section 6 of the it act, 1961 by the finance act, 1990 w.e.f. 1st april, 1990, an indian citizen who is a member of the crew of an indian ship as defined in clause (18) of section 3 of the merchant shipping act, 1958, is regarded as a resident in india only if ..... authorities and by court decisions. claims to jurisdiction over foreign vessels, when within the waters of a given state, have varied. according to united states practice, private merchant ships are subject to the jurisdiction of the united states only when they disturb the 'public peace', acts involving the "internal order of the vessel", are under the jurisdiction of the state whose flag the .....

Deputy Commissioner of Income Tax Vs. Reliance Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD209(Mum.)

..... draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force." he further submitted that section 195 of the act was amended by the finance act, 1987, to provide for deduction of tax at source on payment of certain sums to non-residents either at the time of credit of the same ..... department of revenue had clarified that no income-tax was payable in respect of freight on import of cargo unless such freight is paid in india to nonresident shipping company or its agent. it has been clarified by the ministry of surface transport that according to normal international practice and also according to the agreements with the ..... of the words "business connection". he placed reliance on the following judgments :kalwa devadattam and ors. v. union of india and ors. (1963) 49 itr 165 (sc) (iv) bikaner textile merchants syndicate ltd. v. cit (1965) 58 itr 169 (raj) (v) performing right society ltd. and ors. v. cit (1974) 93 itr 44 (cal) (vi) performing right society ltd .....

Sm Energy Teknik and Electronics Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)109TTJ(Mum.)34

..... similar facts, the mumbai bench 'a' of the tribunal held that the assessee was entitled to deduction under section 80hhc of the act where he had purchased in bangladesh a ship belonging to shipping corporation of india and sold the same in bangladesh itself. the learned authorised representative of the assessee pleaded that the assessee's case ..... , the central government may from time-to-time formulate and announce by notification in the official gazette the export and import policy and may also in like manner amend the policy. in exercise of powers vested in section 5, ftrda, 1992, ministry of commerce, government of india, had issued a notification on 31st march, ..... for this purpose. it was submitted that under e & ip, 92-97, under chapter xiv in clause 154d, a specific provision was made enabling the merchant trade to import and export goods which need not physically brought into india and exported thereafter. the above position clarifies that the assessee had imported goods from germany .....

Tata Sons Limited Vs. the Deputy Cit, Special Range-1

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... submitted that the bombay high court itself noted that the merchant shipping act was not in pari materia with the income-tax act. therefore, the provisions thereof did not apply to the income-tax act and more so when the term "india" was specifically defined in section 2(25a) of the act.19. with regard to the decision in indian hotels ..... treating cash compensatory support of rs. 24,15,820/- as revenue receipt and not as capital receipt as claimed by the assessee. in view of retrospective amendment in the act with regard to the taxability of this item, the ground is not pressed by the assessee and hence, the same is dismissed.1. i have carafully ..... held as a "company in which the public are substantially interested", has unnecessarily affected some companies and the legislature realised this difficulty and by fiance act, 1971 suitably amended section 2(18) to bring within its fold companies which were registered under section 25 of the companies this was also explained in explanatory notes on .....

Tata Sons Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD45(Mum.)

..... representative, it was submitted that the bombay high court itself noted that the merchant shipping act was not in paxi materia with the it act. therefore, the provisions thereof did not apply to the it act and more so when the term "india" was specifically defined in section 2(25a) of the act.19. with regard to the decision in indian hotels co. ltd. ..... against treating cash compensatory support of rs. 24,15,820 as revenue receipt and not as capital receipt as claimed by the assessee. in view of retrospective amendment in the act with regard to the taxability of this item, the ground is not pressed by the assessee and hence, the same is dismissed.1. i have carefully ..... are relatives of one another and persons who are nominees of any other person together with that person are treated as a single person. 141. under the proposed amendment, a company whose shares are not listed in a recognised stock exchange in india will not be treated as a widely held company. however, a company whose equity .....

Raymond Limited Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)86ITD791(Mum.)

..... section 163 making it the agent of merrill lynch but that was an opinion which they had and since under section 195(1), as it stands after the amendment made by the finance act, 1987, w.e.f. 1st june, 1987, the assessee-company was more than a "statutory agent" under section 163, the position was "a fortiori". the ..... gdrs. our attention was drawn in particular to regulation 13,20,22 and 26, r/w schedule iii of the rules. the contention was that since an indian merchant banker, who is prohibited from buying and selling gdrs, is party to the subscription agreement, it could not have been intended by the parties thereto that there would ..... other than property described in para 3(a) of this article; (b) for services that are ancillary and subsidiary to the rental of ships, aircraft, containers or other equipment used in connection with the operation of ships, or aricraft in international traffic. (d) for services for the private use of the individual or individuals making the payment; or (e) .....

Anil S. Gore Vs. Asstt. Commissioner of It

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)272ITR53(Mum.)

..... for the year under consideration.however, with effect form assessment year 1995-96 the position will be different in view of the amendment to the proviso to section 2(42a).with effect from a.y. 1995-96 onwards the units of uti have been equated ..... are distinguishable in facts and are not applicable to the instant case. the ld. dr relied upon the following decisions -cit v. south india shipping corporation ltd. ii) cit v. manjunatheshwar packing products and camphor works 231 itr 53 (sc) iii) escorts ltd. and anr. v. ..... to section 2(42a) was made applicable to the units of uti by the finance act, 1994 w.e.f. 1-4-95 and hence for the year under consideration the amended proviso will not be applicable. hence the units of uti were required to be held ..... on which the cit exercised jurisdiction under section 263, the legal fiction created by the provisions of section 32(3) of uti act should be carried to its logical conclusion and the units of the uti should be treated as shares for the purpose of .....

B. Sorabji Vs. Ito, Ward 20(1)(2)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)95ITD540(Mum.)

..... the assessee from exports of goods", it is obvious that the intended purpose of this amendment was to ensure that the deduction under section 80hhc comes into play only when the assessee is deriving profits from its export activity. the assessing officer observed that income ..... does not include a loss. this decision was also relied on by the assessing officer. the assessing officer was further of the view that since section 80hhc has been amended with effect from assessment year 1992-93, whereby the expression'total profits of business of the assessee' in the proviso, have been replaced by "total profits derived by ..... be export out of india of such goods and merchandise and the value of'such goods or merchandise declared in the shipping bill or bill of export as referred to in sub-section (1) of section 50 of the customs act, 1962 (52 of 1962), shall, for the purposes of this section, be deemed to be the sale proceeds .....

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... of a concessional loan had amounted to a benefit, there was no need for parliament to have inserted clause (vi) in section 17(2) of the act by the taxation laws (amendment) act, 1984.73. the learned counsel addressed us on the reliance placed by the department on the judgment of hon'ble supreme court in the case of cit ..... the consequences of law merely by describing an agreement in a particular form though in essence and in substance it may be a different transaction."union of india v. gosalia shipping p. ltd. , hon'ble supreme court held, "it is true that one could not place over-reliance on the form which the parties give to their agreement or ..... of 3 months, except that the legislature chose to lay down the time limit of 3 months. it could be two months or even six months, as the subsequent amendments showed. it would, therefore, be thoroughly incorrect to say that the provision clarified the existing legal position. the learned counsel further argued that wherever the intention of the .....

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96ITD1(Mum.)

..... of a concessional loan had amounted to a benefit, there was no need for parliament to have inserted clause (vi) in section 17(2) of the act by the taxation laws (amendment) act, 1984.the learned counsel addressed us on the reliance placed by the department on the judgment of honble supreme court in the case of cit v. india ..... the consequences of law merely by describing an agreement in a particular form though in essence and in substance it may be a different transaction."union of india v. gosalia shipping p. ltd. (1978) 113 itr 307(sc), honble supreme court held, "it is true that one could not place over-reliance on the form which the parties ..... of 3 months, except that the legislature chose to lay down the time limit of 3 months. it could be two months or even six months, as the subsequent amendments showed. it would, therefore, be thoroughly incorrect to say that the provision clarified the existing legal position. the learned counsel further argued that wherever the intention of the .....