Judgment Search Results Home > Cases Phrase: preservation of trees act 1976 chapter 1 preliminary Sorted by: recent Court: income tax appellate tribunal itat mumbai Page 1 of about 24 results (0.108 seconds)

Hercules Hoists Limited Acit Vs. Mumbai

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... i.e., 'the tax holiday period', as enumerated in sec. 80ia(2), and the 'stand alone' principle, as incorporated per sec. 80ia(5), seeking to preserve the sanctity of the tax shelter, are separate and distinct, and may not be confused with each other; rather, are to be read and applied harmoniously and purposively. ..... being assessment years (ays) 2005-06 to 2008-09, partly allowing the assessee's appeals against its assessments u/s.143(3) of the income tax act, 1961 ('the act' hereinafter) for the relevant years. 2. the appeals raising common issues, were heard together and are being disposed of vide a common, consolidated order. the ..... in sec.80-i(6): deduction in respect of profits and gains from industrial undertakings, etc., established after a certain date - new section 80-i [the finance (no.2) act, 1980] "19.4 the new "tax holiday" scheme differs from the existing scheme in the following respects, namely:- (i) ....................... (ii) ....................... (iii) in computing the .....

M/S.Bayer Material Science Pvt. the Asstt.Commissioner of Ltd. Vs. Mum ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... assessing officer held that the above transaction was not a slump sale transaction and hence capital gain was required to be worked out as per normal provisions of the act. the ao observed from the chart as reproduced above that all assets other than inventories, that is, debtors, loans, miscellaneous receivables etc. did not have ..... deemed to be the loss or, unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected, and other provisions of this act relating to set off and carry forward of loss and allowance for depreciation shall apply accordingly. as the amalgamation took place in the relevant previous year, the ..... disallowing the brought forward loss of bayer tpu pvt. ltd. (amalgamating company)(hereinafter called as btpu) amounting to rs. 7,73,00,414/- u/s. 72a of the act. 3. briefly stated the facts of this ground are that two separate companies - btpu and bayer specialty products pvt. ltd. (bsppl) - got amalgamated with the assessee- .....

First Global Stockbroking (P) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)115TTJ(Mum.)173

..... | |books, but could not be || | | | | |properly reconciled and not || | | | | |evidenced for genuineness under || | | | | |section 68 of the act. ||___|________|____________|___________|___________|__________________________________||74 |253 |a-1/44a |547 to 549 |2,427,000 |seized document has name of || | | | | |scrip, share sold, and ..... |books, but could not be || | | | | |properly reconciled and not || | | | | |evidenced for genuineness under || | | | | | section 68 of the act. ||___|________|____________|___________|___________|__________________________________||68 |250 |a-1/15 to 16|493 to 495 |2,040,104 |the seized papers have full || | | | | |narration with name ..... |payment of some clients of mr. || | | | | |khanna but no evidence in || | | | | |support of the explanation. || | | | | |presumption of section 132(4a) of || | | | | |the act. ||3 | | | | | || |220 |a-1/3 |172 to 174 |2,79,841 |addition of brokerage @ 0.05 || | | | | |per cent on the amount of || | | | | |transaction of .....

Satellite Television Asian Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)99ITD91(Mum.)

..... been expressly provided in the respective statute. one example is that of territorial waters, continental shelf, exclusive economic zone and other maritime zones act, 1976 (tw act). the tw act provides the legal framework specifying the nature and scope of india's rights and jurisdiction in relation to matters concerning maritime zones and maritime boundaries ..... scope of the respective enactments have been provided in a wider expression whereas no such wider expression is called for in the administration of the it act.15. the act provides for an exhaustive and express machinery for the recovery and collection of taxes in chapter xvii. section 173, 195 and 192 lay down ..... non-resident television content aggregators ('channel companies') in computing the income of the appellant by applying the provisions of section 40(a)(i) of the it act, 1961 ('act') to the aforesaid payment.the learned cit(a) has erred in concluding that the appellant is not a telecasting company and failing to apply the .....

Vidarbha Irrigation Development Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)102ITD1(Mum.)

..... all liabilities which are enforceable against the corporation shall be enforceable against the slate government.48. the learned standing counsel for the revenue submitted, generation of electricity, preservation of water and belter management of it through construction of dams, canals, etc. leads to development. but it is not direct and immediate planning, development or ..... has to be understood in a wider sense and establishment of industries is one of the modes of development - such an interpretation would preserve the object of section 10(20a) of the income-tax act, 1961.39. the learned counsel submitted, it is important to note that by virtue of section 15 of the vidc ..... ble supreme court held, is one of the modes of development and such an interpretation would preserve the object of section 10(20a). the learned counsel further submitted, when the object is such, an interpretation which would preserve it should be accepted even if the provision is capable of more than one interpretation. in .....

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

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

..... the assessee were requisitioned for different purposes by the military authorities.though the assessee continued to be in possession of the tea garden and tended them to preserve the plants, the manufacturing of tea was stopped completely. the assessee was paid compensation on the basis of out-turn of tea that would have been ..... a cherry orchard, for pounds 5,500. the sale was expressed as inclusive of this years fruit crop, and the taxpayer had valued the cherries on the trees at pounds 2,500. the cherries were subsequently sold by the taxpayer for pounds 2,903. in computing his profits of trade, the taxpayer sought to deduct ..... asset for investment.(g) dividend is distributed from accumulated profits of a company with reference to its subscribed share capital in accordance with the provisions of companies act; whereas mfs distribute income from its equalization reserve comprising profits and premium charged on sale of units as per sebi regulations." the learned special counsel explained .....

Assistant Commissioner of Income Vs. Concord Commercials (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)94TTJ(Mum.)913

..... is chargeable under the heads 'interest on securities', 'income from house property', 'capital gains' and income from other sources'. further, the explanation to section 73 of the it act, 1961, reads as under. 'explanation' : where any part of the business of a company (other than a company whose gross total income consists mainly of income ..... court after an exhaustive review of the authorities held that the head of income, profits and gains enumerated in the different clauses of section 6 of the indian it act, 1922 were mutually exclusive, each specific head covering items of income arising from a particular source. on that reasoning, the court held that even though the ..... and separate business if the nature of such transactions is such that it constitutes a business. this is provided under expln. 2 to section 28 of the act. likewise, the definition of the term speculative transaction is provided in section 43(5) in a substantive manner. generally speaking, the ambit and scope of speculative .....

Mohanlal K. Shah (Huf) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)92TTJ(Mum.)360

..... partition, as devised through arbitration award, is a colourable device to evade tax so as to render the resultant partition as not acceptable under section 171 of the it act, 1961, on the principle as enunciated in mcdowell & co. ltd. v. cto (supra). as seen above, the antecedent circumstances amply explain the fact situation ..... been defined/specified under the agreement/arrangement/award or scheme of partition, then in order that there may be a valid partition under section 171 of it act, actual physical division of the joint property of huf as per the defined/specified respective shares allotted to the members under partition agreement/arrangement/award has ..... to their respective shares in that regard. (xii) the cit(a) has also attacked the assessee on the ground that the arbitration award was not actually acted upon by the coparceners by executing legal documents transferring and assigning their respective rights, interests and titles in favour of shri harish b. shah. the absence of .....

Mohanlal K. Shah (Huf) Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96ITD9(Mum.)

..... as under : "49. effect of non-registration of documents required to be registeredno document required by section 17 or by any provision of the transfer of property act, 1882 (4 of 1882), to be registered shall- (c) be received as evidence of any transaction affecting such property or conferring such power, provided that an ..... /specified under the agreement/arrangement/award or scheme of partition, then in order that there may be a valid partition under section 171 of income tax act, actual physical division of the joint property of huf as per the defined/specified respective shares allotted to the members under partition agreement/arrangement/award has ..... equivalent to their respective shares in that regard.(xii) the cit (a) has also attacked the assessee on the ground that the arbitration award was not actually acted upon by the coparceners by executing legal documents transferring and assigning their respective rights, interests and titles in favour of shri harish b. shah. the absence .....

Deputy Commissioner of Income Vs. Manjara Shetkari Sahakari Sakhar

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)91ITD361(Mum.)

..... due care the factual backdrop of the case. the demand for a minimum price was made in 1933 and accepted by the government by legislating the sugarcane act, 1934. the act conferred powers on the then provincial government to fix minimum price for cane. since 1950, the minimum price is fixed under the control orders issued from ..... no contrary decision of binding nature was brought before us. we, therefore, respectfully following the precedent, hold that the provisions of section 40a(2) of the act are not applicable to payments made by a co-operative society to its members towards purchase price of cane supplied or as khodki charges. the payment cannot be ..... from the view point of a revenue official but from the view point of a businessman.7. the assessee societies are registered under the maharashtra co-operative societies act, 1960. the principal object is to encourage members to improve method of agriculture by adopting principles of co-operative farming. no person is admitted as producer .....