Judgment Search Results Home > Cases Phrase: powers of attorney amendment act 1982 Court: income tax appellate tribunal itat delhi Page 1 of about 6 results (0.120 seconds)

Cobra Instalacions Y. Services, Vs. Deputy Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)115TTJ(Delhi)534

..... to meet these situations, we recommend that the existing provisions should be modified to permit the tax return in the case of a company being signed by the holder of a power of attorney in a case where there is no managing director or other director stationed in india, or by the liquidator in the case of a company in liquidation.it was on the basis of recommendations of chokshi committee that following proviso was inserted to section 140(c) of the act by the taxation (amendment) act, 1987 w.e.f. ..... or "by him" or "under his hand" or "personally" indicates that even an authorised agent is precluded from signing on behalf of the principal.the proviso to section 140(c) of the act states that where the company is not resident in india, the return may be signed and verified by a person who holds a valid power of attorney from such company to do so; where the company is being wound up, whether under the orders of a court or otherwise, or where any person has been appointed as receiver ..... 1st april, 1989, which read as under: provided that where the company is not resident in india, the return may be signed and verified by a person who holds a valid power of attorney from such company to do so, which shall be attached to the return.from above it is clear that the purpose of filing power of attorney along with the return is to hold the managing director responsible in a case where a false return is filed and prosecute him under section 277 of the act.7. .....

The Asst. Commissioner of Vs. Madan Mohan Lal Shriram Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the builders have performed their act or obligations including payment of agreed consideration in terms of the schedule mentioned in the agreement, eviction of tenants, obtaining various permissions including from the lessors and also under the urban land ceiling act for which acts a power of attorney was also executed in favour ..... sell the property, it has not only transferred possession of the property to the transferee, but it has also given an irrevocable power of attorney to the transferee to deal with or dispose of the property in any manner whatsoever. ..... , such conversion or treatment; or (v) any transaction involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53a of the transfer of property act, 1883 (4 of 1882); or (vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, company or other association of persons or by way of any agreement or any arrangement or in any ..... come into force with effect from april, 1st, 1988 and will accordingly apply to assessment year 1988-89 and subsequent year by holding that the amendment of 1988 introducing sub-clause (v) in the definition of "transfer" in section 2(47) was prospective and applied to the assessment year 1988-89 and ..... to be taken or retained in part performance of a contract of the nature referred to in sec.53a of the transfer of property act, 1982(4 of 19882).18. .....

B.K. Chadha Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1986)19ITD158(Delhi)

..... property actually took place on 29-3-1979 when the sale deed was executed and registered and not on 25-1-1979 when merely an agreement to sell was executed and registered and since in accordance with the amended provisions of law as contained in explanation 1(b) to section 54e(1) the net amount of consideration had not been invested in national rural development bonds, the exemption under section 54e was not available. ..... he had also executed a power of attorney in favour of the vendee's wife in order that the sale could be executed even when the vendor ..... of transfer as 15-1-1979.over and above, the assessee has taken the following additional grounds : the order of the learned commissioner (appeals) in not allowing exemption of capital gain under section 54e of the income-tax act, 1961 as it stood on 25-1-1979 is against law.this additional ground has been admitted by us as it arises out of the order of the commissioner (appeals) and as the learned departmental representative has no objection to the admission ..... this document had no doubt provided that the vendor was leaving the country and that in his absence the sale deed will be executed by his general attorney who was nobody else than the wife of the vendee but that also does not make any difference inasmuch as the document cannot be equated with a sale deed.the execution of the sale ..... [1982] 133 itr 525 that in a case where an agreement to sell was executed, it could not be said that the vendor-to-be had relinquished its rights in .....

Smt. Shashi Mangla Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the husband of the assessee who had appeared before the bench was directed to file proper power of attorney. ..... that the appellant craves leave of the hon'ble court to add, substitute, amend, alter, urge any of the grounds of appeal either before or at the time of the hearing of this appeal. ..... the assessment order was passed well within the time prescribed under s.153 of it act and the assessee could not show as to how assessment order is null and void, ultra vires and without jurisdiction. ..... 156 of the it act, 1961, in consequence of such an order. ..... 154 of the it act contending that on three points mentioned above, mistakes of facts and law which are apparent from record have crept in and, therefore, these mistakes should be rectified. ..... 154 of it act.be that as it may, we do not find any substance in this appeal and are unable to grant any relief to the assessee.8. ..... 153 of it act and pointed out that assessment could be made upto 31st march, 1991, and thus assessment made on 29th march, 1990, cannot be said to be out of time. ..... 153 of it act and assessment made and other action taken were not out of time. ..... 120 of it act, the ao, i.e. ..... 143 of it act and, therefore, assessment made was ultra vires and liable to be quashed.3. ..... 124(3) of the act. ..... 154 of the it act. ..... he first argued on additional ground relating to territorial jurisdiction of ao under s.124 of the it act. ..... 120(2) of the it act, dt. ..... 37 of the it act. 5. ..... 154 of the it act.2. .....

Ravi Kumar Sinha Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... (iv) an irrevocable power of attorney in favour of the welfare company enabling it to deal with such shares during the currency of the loan.3. ..... assessee prays for leave to add, alter, amend or vary any of the grounds either before or at the time of hearing the appeal.2. ..... therefore, it is the obligation of webber under section 4 of the income tax act, 1961, the obligation was taken over by ballarpur industries, so such company paid the tax. ..... this is an appeal filed by the assessee against the order of commissioner (appeals) dated 8-4-2004 for the assessment year 2002-03, in the matter of order passed under section 143(3) of the income tax act, 1961 wherein following grounds of appeal have been raised : 1. ..... he further contended that under the income-tax act, a specific provision is made in section 41(1), which it provides that if any allowance or claim is allowed in a year in the computation of business income, then the benefit received in respect of such transaction will be deemed as income in the year the benefit is ..... it was argued by learned ar shri ajay vohra that obtaining a loan is a transaction in the capital field, the loan obtained is not income there is no section in the income tax act, 1961 which treats capital transaction as income. ..... on the facts and in the circumstances of the case and in law, the commissioner (appeals) erred in not disposing the ground relating to the penalty proceedings initiated by assessing officer under section 271(l)(c) of the income tax act. 6. .....

Motorola Inc., Erisson Radio Vs. Deputy C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)96TTJ(Delhi)1

..... (i) in a case where the accounts of thesection 22(2) in the case of any person section 139(2): (omitted by direct taxwhose total income is, in the income-tax laws (amendment) act, 1987, w.e.f.officer's opinion, of such an amount as 1.4.1989.to render such person liable to income-section 22(2a): xxxxxxxxxxx xxxxxxxxxxsection 22(3): if any person has not section 139(4): any person who has notfurnished ..... aforesaid provisions and also to remove the discretion of the assessing authorities, which had led to litigation and consequent delay in realization of dues, the amending act, 1987, has substituted the above provisions by a simple scheme of payment of mandatory interest for defaults mentioned therein. ..... at the true taxable income as demonstrated by the decision of the supreme court in tie aforesaid kulu valley transport's case (1970) 77 itr 518".the ao even under section 139(2) had powers to curtail the period of limitation and could issue and ask for a return of income earlier than the time due and provided under sub-section (1) of section 139. ..... case, the government of india, through iti, a government undertaking, entered into four different agreements on 28.7.1982 with the assessee - a non-resident french company, for the development and manufacture of electronic digital ..... summarily dismissed under article 136 of the constitution, by such dismissal this court does not lay down any law, as envisaged by article 141 of the constitution, as contended by the learned attorney-general. .....

indo Asian Switchgears (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)12ITD65(Delhi)

..... learned counsel for the assessee that if it was assumed that what was at the point of acquisition, a capital asset, viz,, import entitlement, had been converted into a trading asset by a simple act of volition on the part of the assessee to so convert the said capital asset and to deal with it as a trading asset, the assessee was entitled to substitute for the cost of the said ..... . firstly, what was being interpreted by the gujarat high court was the term 'derived from the exports of any goods' appearing in the finance acts.the question of taxability of the sale consideration for import entitlements under section 28(i) was not before the court at all.secondly, even within the narrow sphere ..... . the court explained there (in relation to business expenditure) the meaning of expression 'for the purpose of business' occurring in section 10(2)(xv) of the 1922 act, corresponding to section 37(1) of the 1961 act, as wide in range : that it would take in not only the day-to-day running of a business but also include measures for the preservation of the business ..... position : (i) section 3 of the imports and exports (control) act, 1947, delegates the legislative powers to the central government to prohibit, restrict or control the import ..... no objection to be raised to the letter of authority being amended in the name of any other manufacturer/manufacturers, satisfying the above conditions before the original authorisation is actually used.we may now go back in time, as it were, ..... ..... 1982 .....

Shaukat Shah Khan Vs. Assistant Controller of Estate

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1995)54ITD241(Delhi)

..... that the contents of a wealth-tax return order in a wealth-tax assessment proceedings which has become final are relevant material on which reliance can be placed by the tribunal to decide an issue under the estate duty act, particularly while reckoning the value of the estate that was passed or is deemed to have passed on the death of a deceased.6.2 after a careful analysis of the issue on the facts and circumstances of the case as highlighted ..... to merit consideration.5.16 in regard to the point urged by the accountable person that the appellate controller of estate duty has no power to set aside the case to assistant controller of estate duty for making further inquiries under section 62(4)(b) of the estate duty act, as was given to the cit (appeals) under the income-tax act, as section 62(4)(b) clearly stipulates that the appellate controller may before disposing of an appeal, make such inquiry as he thinks fit ..... of estate duty held that the deceased was domiciled in india, but not a british domicile as claimed on the basis of the judgment dated 12-3-1982 of the chancery division of the high court of justice, and assessed the duty on the estate of the deceased in the foreign property. ..... the accountable persons also made amendments in the return showing united kingdom domicile ..... as lord macnaughton put it in winans attorney general [1904] ac 287 at page 290 : "domicile of origin differ from domicile of choice only in this, that its character is more enduring, its hold stronger and less .....

Joint Commissioner of Income Tax Vs. Rajat Lal

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)93ITD482(Delhi)

..... specified in the resolution according to which remuneration by way of commission will be allowed subject to the total limits of the total remuneration as laid down in sections 198 and 309 r/w section 13 of the companies act, equivalent to his annual salary subject to the maximum of 3 per cent of the net profit as reduced by the remuneration paid to him by way of salary and perquisites, meaning thereby without computing the net ..... the buyer through the said company and thus if needed both the parties shall obtain no objection certificate from the appropriate authority as per provisions of section 269(uc) of the act and if the appropriate authority decides to put off pre-emptive purchase they will obtain similar rights as per the buyer as provided in this agreement. ..... which will be allowed subject to the limits of the total remuneration as laid down in sections 198 and 309, r/w schedule 13 of the companies act equivalent to his annual salary subject to the maximum of 3 per cent of the net profits as reduced by the remuneration paid to him by way ..... for the assessee has invited our attention to the guiding note on auditors report on revised accounts of the company before circulation to shareholders, according to which, companies act does not normally contemplate the revision of the accounts and a further report by the statutory auditors on the amended accounts. ..... per cent shares transfer, voting interest and controlling power in the company, m/s rajendra lal shadilal ..... ) (1982) 137 .....