Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jan-10-2005
Reported in : (2005)94TTJ(Delhi)53
..... its case on the low rate of royalty in terms of its turnover rather than connecting the same with its profitability. in the context of transfer pricing, the amendment had been made to sections 92 to 92f. there were several methods laid down such as comparable uncontrolled price method; resale price method; cost plus method; profit ..... 9. the learned ao argued that the product of the assessee such as coffee, tea, chocolates, noodles, etc. were day-to-day consumer products. they were not patented or copyright products though the same may be under a brand. the ingredients of such products were commonly known and the process of manufacturing was also routine. in view ..... act: once permission is granted by the rbi, ordinarily, it is not open to anyone to go behind the permission and. seek to question it." the learned counsel for the assessee pointed out that the observations of the hon'ble supreme court abovementioned have been noted in the order of tribunal mumbai bench 'a', dt. 6th sept., 2002 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jan-31-2005
Reported in : (2005)94ITD1(Delhi)
..... the word 'manufacture', but by virtue of section 2, it provided that for the purposes of the act, definition of specified goods as contained in ce act be adopted. later, by an amendment act, 1980 the definition of 'manufacture' in ce act was enlarged to include 'processing'. the assessee contended that the enlarged definition of manufacture was not applicable for ..... expired. in p.v. doshi v. cit (1978) 113 itr 22 (guj), difference in irregularity and illegality has been explained. in k.m. sharma v. ito (2002) 254 itr 772 (sc), it has been held that a provision regulating period of limitation must receive strict construction.16. shri rastogi also filed the analysis of lucknow special ..... it cannot be ignored. otherwise, main section will become otiose.15. further reference has been made to the judgment in the case of vipin khanna v. cit (2002) 255 itr 220 (p&h), for the proposition that service of notice within twelve months period as per proviso to section 143(2) is essential. non service of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Apr-20-2005
Reported in : (2005)94TTJ(Delhi)1036
..... in law. cancellation of the assessment is called for only if there is something totally or basically wrong in the assessment and is not capable of being remedied by amendment to the assessment order itself. it will be appreciated that out of six issues outlined in the show-cause notice, the learned cit found the assessment order erroneous only ..... without proper examination. in this connection, you may refer to the judgment of the hon'ble delhi high court in the case of cit v. motor general finance ltd. (2002) 254 itr 449 (del), wherein the court held as follows : "from the conspectus of the decisions as noticed hereinbefore, there cannot be any doubt whatsoever that the nexus ..... the courts in the following cases that revision under section 263 of the act is not warranted even where only a facet of a claim has been examined by the cit(a) :p. das & co. v. dy. cit 8. sahara india mutual benefit co. ltd. v. asstt. cit (2002) 74 ttj (all) 67ito v. ahmedabad engg. & services co-op. society .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : May-13-2005
Reported in : (2006)103ITD157(Delhi)
..... accounting for warranty from cash to mercantile system. according to assessee, this change in method of accounting became necessary in view of the amendments to provision of section 209(3) of the companies act, 1956, whereby the assessee was required to follow the accrual system of accounting. the assessee also made a reference to the opinion ..... that payments made for the right to have access to the technical knowledge and the fruits of continuing research and experience of a foreign company and to use its patents and trademarks were on revenue account. in alembic chemical works co. ltd. v. cit (supra), the supreme court again held that a lump sum consideration ..... i) cit v. sudarshan chemicals industries ltd. (2000) 245 itr 769 (bom) (iii) ifb agro industries ltd. v. dy. cit (2003) 78 ttj (cal)(sb) 177 : (2002) 261 itr 17 (cal)(sb)(at) 36. the learned departmental representative relied on the orders of the revenue authorities. we have considered the rival submissions. as far as the interest .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jun-07-2005
Reported in : (2006)281ITR107(Delhi)
..... bench, the validity of the date of the last panchanama itself depends on the date of assessment order; this reasoning is patently erroneous.21. mr. shiva swamy submitted that neither the term "panchanama" is defined anywhere in the it act or in the it rules or even in the criminal procedure code (crpc) nor any form of panchanama is prescribed under the it ..... very existence of such satisfaction/belief is justiciable. he also placed reliance on the decision of jodhpur bench of tribunal in the case of chitra devi v.asstt. cit (2002) 77 ttj (jd) 640 wherein it was held that the tribunal has the jurisdiction as also the duty to examine the validity of authorization for search when the same ..... 132. it was further noticed that a contrary view, however, has been taken by the delhi bench of tribunal in the case of varinder bhatia and ors. v. dy cit (2002) 74 ttj (del) 60 : (2001) 79 itd 340 (del) wherein it was held that the powers of the ao and the tribunal while disposing of the block assessment .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jun-22-2005
Reported in : (2005)96TTJ(Delhi)1
..... of interest used the expression "may" thereby giving a discretion to the authorities concerned to either reduce or waive the interest. the change brought about by the amending act (finance act, 1987) is a clear indication of the fact that the intention of the legislature was to make the collection of statutory interest mandatory." (underlining ours) the ..... do not cover the payment with which we are concerned in the present appeal. clause (i) refers to transfer of rights or granting license in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property. but-software supplied did not fall under any of these items. clause (ii) ..... because the software supplied by the assessee was not supplied for the purpose of imparting any such information. clause (iva) was introduced only w.e.f 1.4.2002 and hence not relevant for the year under appeal. clause (vi) refers to rendering of services in connection with the activities referred to in sub-clauses (i) .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jun-29-2005
Reported in : (2005)4SOT146(Delhi)
..... year 1996-97. as far as assessment years 1991-92 to 1995-96 were concerned, the position remained unaffected even after amendment.the learned counsel argued that the assessing officer completely erred in initiating proceedings under section 147 more so after the expiry of ..... on the basis of past rent by way of 'other income'. therefore, non-disclosure of material facts necessary for assessment was patent on the face of the records. the assessee declared the income as business income in the garb of other income. there was ..... by the assessee subsequent to the financial years under assessment and levy of interest under sections 234b and 234c of the act.2. facts of the case leading to these appeals briefly are that for the assessment years before us the following ..... society v.cit (1979) 119 itr 996 (sc), cit v. kelvinator of india ltd. (2002) 256 itr 1 (del)(fb) and united electrical co. (p) ltd. v. cit (2002) 258 itr 317 (del) in that respect. he mentioned in particular the judgment of hon'ble .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jun-30-2005
Reported in : (2005)98TTJ(Delhi)971
..... issue already adjudicated by the tribunal i.e. validity of the notice issued under section 148 of the income-tax act and consequently the validity of the assessment order, part "b" relates to remedy for issuing additional directions by amending the order of the tribunal. we will take up these two parts separately in the following manner: part "a" ..... this regard has been clarified by the hon'ble delhi high court in the cases of ms. deeksha suri and ors. v. itat and ors. ; karan & co. v. itat (2002) 253 itr 131 (del.); and cit v. vichtra construction (p) ltd.cit v. vichtra construction (p) ltd. (supra), the hon'ble high court has held as under: " ..... 11) without recalling or reviewing the order, on issues already adjudicated by the tribunal, the omission or error on the part of itat can be corrected or rectified by amending and adding something to it without subtracting anything from the main order. (12) there is legal obligation on the part of itat to rectify errors committed by the authorities .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jul-22-2005
Reported in : (2005)98TTJ(Delhi)565
..... bombay high court held that receipts which do not form part of sale proceeds cannot come within the ambit of total turnover, after examining the object for which the amendment to the section was introduced. the question before the high court was whether receipts which have no nexus with the export activity can be included in the total turnover ..... permission of the cod to pursue the appeal and a copy of the approval of the cod has been placed on record vide order-sheet entry dt. 28th aug., 2002.4. we shall proceed to dispose of the appeal ground-wise. the first ground which relates to the disallowance of provision for non-moving stock, is in two ..... their action and dismiss the ground.14. ground no. 8 is directed against the disallowance of rs. 4,76,57,787 by invoking section 40a(9) of the act. the amount represents payment made by the assessee to the central schools (kendriya vidyala), bhel schools and other educational institutions.the assessee contended before the it authorities that the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Aug-31-2005
Reported in : (2006)283ITR28(Delhi)
..... successor in all its rights and obligations." 47. the learned counsel further argued that the change of facts could at best be applicable only from asst. yr. 2002-03 and had no bearing in relation to the assessment years under consideration by us.48. the learned counsel for the assessee clarified the constitutional basis of the creation ..... 2000-2001 rja filed return of income on 29th nov., 2000 declaring nil income. the learned ao completed the assessment order under section 143(3) on 30th oct., 2002. she found that dtaa between india and jordan had come into effect from 1st april, 2000 for income earned in india. as per dtaa income of rja from operation ..... as regards proceedings for death or personal injury or damage to or loss of tangible property caused: by an act or omission in the united kingdom; nor is there immunity in the case of proceedings relating to united kingdom patents, trade marks, and similar rights belonging to the state, or to the alleged infringement in the united kingdom .....
Tag this Judgment!