Judgment Search Results Home > Cases Phrase: patents amendment act 2002 section 32 amendment of section 67 Court: income tax appellate tribunal itat delhi Page 4 of about 165 results (0.112 seconds)

Guruji Entertainment Network Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... however, other intangible assets comprising copyrights, telecast rights, etc. were entitled for depreciation as per amendment with effect from 1-4-1998 under sub- clause (ii) of section 32(l) of the act which reads as under: know-how, patents, copyrights, trademarks, licenses franchises or any other business or commercial rights of similar nature, being intangible ..... continuously followed by the company and the company has claimed deferred revenue expenditure in fall in the income-tax computation in the assessment years 2000-01 and 2002-03 as well besides 2001-02 which is in the appeal. as a matter of abundant caution, the assessing officer may keep watch on such ..... he brought to our notice the fact that prasar bharti (doordarshan) had invited proposals from tv producers for acquisition of programme vide its advertisement dated 13-2-2002. in response to this advertisement, the assessee company submitted a price-bid for its serial "aparajita" at rs. 50,000 per episode vide letter dated 19 .....

Indian Aluminium Cables Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)73ITD109(Delhi)

..... personality, by many ways but most usually by gift, bequest or bargain and sale.19. article 19(1) of the constitution before its omission by the forty fourth amendment act, 1978 w.e.f. 20th june, 1979 laid down that all citizens shall have the right to acquire, hold and dispose of property.the expression "property" in ..... both the sides, elucidation and elaboration as given to various terms in the light of case law and the expanded definition of capital asset and transfer, as amended from time to time and as applicable for the year under consideration, we find that right acquired on allotment of an industrial plot falls within the expression " ..... or chattels which does not depend upon another's courtesy; it includes ownership, estates and interests in corporeal things, and also rights such as trade-marks, copyrights, patents and even right in personam capable of transfer of transmission such as debits; and signifies a benefit right to or a thing considered as having a money value, especially .....

Vishwa Hindu Parishad Sankat Vs. Deputy Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)75ITD455(Delhi)

..... prescribed manner to the cit within the specified time was the necessary condition for the grant of registration. with the view to remedy this situation, s.12a was amended and s. 12aa was introduced to prescribe a procedure for registration and grant of registration was thus made a condition necessary to avail exemption under s. 11.18 ..... grant of registration shall be one of the conditions for grant of income-tax exemption." 17. on consideration of the above extracted portion, it becomes patent that the finance (no. 2) act, 1996, introduced the provisions in regard to the grant of registration as sine qua non for the grant of income-tax exemption w.e.f. ..... whether the income of the institution can be regarded as being held for charitable purposes and whether the institution is entitled to registration under s. 12a of the it act requires investigation of facts." 6. learned counsel for the assessee then submitted that the issue in that case was confined to the grant of blanket exemption under s .....

Ansal Properties and Industries Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)301ITR285(Delhi)

..... to insertion of section 28(va) w.e.f.1.4.2003, non compete fee received by assessee on account of restrictive covenant was not taxable under the act. finance act 2002, w.e.f. 1.4.2003 has inserted clause (va) to provide that following receipt (income) shall be chargeable under the head profits and gains of ..... business but refers to any activity relating to business. the legal position that emerges from the decisions of courts/tribunal, instruction of the board and amendment of provisions of income-tax act is that: (a) prima facie compensation/consideration for agreeing to refrain from carrying on competitive business is a capital receipt. (b) restrictive covenant ..... business: (va) any sum, whether received or receivable, in cash or kind, under an agreement for: (b) not sharing any know-how, patent, copy right, trade-mark, licence, franchise .....

income Tax Officer Vs. Wimco Seedlings Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)114TTJ(Delhi)986

..... v. moser baer india ltd. reported at (2007) 213 ctr (del) 64- ed.(copy of the judgment filed), the hon'ble delhi high court has held that before the amendment to section 271 w.e.f. 1st april, 2003 no penalty is leviable unless some tax is payable by the assessee, following the judgment of the supreme court in virtual ..... office expenses and 50 per rs. 24,25,781 cent of r&d expenses claimed in the original return the claim of bad debt as a deduction is a patent error as is clear from the fact that the assessee itself narrated the claim as "bad debt related to agricultural activity written off during the year". the words shown ..... by the assessee inadvertently. the assessee did not withhold the information that the claim related to the agricultural activity. while computing the income under the normal provisions of the act, the ao did not mention anything about this claim except saying in general terms that the revised computation was filed when specific queries were raised with regard to the .....

Indian Institute of Public Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1984)7ITD367(Delhi)

..... fees in question was not received from foreign companies if the definition of 'company' contained in section 2(17)(ii) [as it stood prior to amendment by the finance (no. 2) act, 1971] is kept in view. this being a primary condition, the fulfilment of which the appellant has failed to establish even before me, i am ..... indian company includes any income by way of royalty, commission, fees or any similar payment received by it from a foreign company in consideration for the use of any patent, invention, model, design, secret formula or process, or similar property right, or information concerning industrial, commercial or scientific knowledge, experience or skill made available or provided ..... court in the case of cit v. r.m. amin [1977] 106 itr 368.10. in fact, the section was amended by the finance (no. 2) act, 1971, with effect from 1-4-1972. by that amendment, the term 'foreign company' was replaced by 'government of a foreign state or a foreign enterprise', rendering the definition in .....

Televista Electronics (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)12ITD161(Delhi)

..... as under: while calculating the tax on the assessed income, a sum of rs. 85,110 has been charged towards interest under section 217. this action is patently incorrect and such provisions are not applicable to the company as no notice under section 210 was issued by the department and, accordingly, the assessee-company was not ..... section 154 along with directions of the commissioner (appeals) and it is found that vide the finance act, 1978, section 24, with effect from 1-6-1978, which amended the whole structure of advance tax and in view of these amendments, every assessee is bound to file statement or estimate of advance tax before the due date(s) ..... though assessment is on a globular basis. there are different heads of income, each with its own rules of computation. these are enumerated in chapter iv of the act.these heads of income are "salaries, interest on securities, income from house property, profits and gains of business or profession, capital gains and income from other sources". .....

Hotel Dhanolti Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)82ITD821(Delhi)

..... that set off be allowed in respect of brought forward unabsorbed depreciation.4. the ao considered the submissions made and referring to the provisions of section 32(2) as amended by finance act, 1996, w.e.f. 1st april, 1997, he opined that the income under the head "capital gains" could not be equated with the "profits and gains ..... arising from the business during that year." 6. on further appeal, the cit(a) upheld the view taken by the ao on the ground that the claim made was patently wrong and inadmissible and, therefore, the "adjustment" under section 143(1)(a) was in order.7. before us, the matter was argued at length by both the parties ..... newspapers ltd. (1964) 53 itr 250 (sc), more precisely the following observations : "the profits and gains of business and capital gains are two distinct concepts in the it act; the former arises from the activity which is called business and the latter accrues because capital assets are disposed of at a value higher than what they cost the assessee .....

Shri Ram Fibres Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1989)31ITD169(Delhi)

..... whether the tax liability could be called a perquisite under section 28(1 )(iv) which came on the statute book by the fin.act, 1964, for in that case the period pertaining was prior to the amendment i.e., of 1963 and accordingly it was held that it was not a perquisite. in that case their lordships observed "the ..... or the right to use, any copyright (e.g., of literary, artistic or scientific work including cinematograph films or films or tapes for radio or television broadcasting), any patent or trade-mark etc., and payments for technical services rendered in india are some of the typical examples of sums chargeable under the provisions of the income-tax ..... the declaration and payment of dividends within india, any interest, not being "interest on securities", or any other sum, not being dividends, chargeable under the provisions of this act, shall, at the time of payment, unless he is himself liable to pay any income-tax thereon as an agent, deduct income-tax thereon at the rates in force .....

Napar Drugs Pvt. Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)98ITD285(Delhi)

..... practice" ignores the prevalent malpractice that was noticed by the direct taxes enquiry committee and the recommendations made by the said committee which led to the amendment of the act by the finance act of 1972, whereby the exemption from tax that was available in respect of winnings from lotteries, crossword puzzles, races, etc., was withdrawn. similarly, ..... to the file of assessing officer for adjudication afresh.? i have received the following proposed question under section 255(4) of the i.t. act. 1961 in ita no. 206/del. /2002. whether on the facts and findings, issue being identical and covered by various tribunal orders arising from the same search and in the hight ..... should en mass sign these blank documents and deposit them with the chartered accountant? the learned dr referred to the letter of the assessee dated 28.5.2002 addressed to the assessing officer and placed at pages 6 to 12 of the assessee's paper book. according to the assessee, the papers found were advance .....