Profitable - Judgment Search Results

Narang Overseas Pvt. Ltd. Vs. the Acit

Court: Income Tax Appellate Tribunal ITAT Mumbai

..... assessability the high court decided both the issues against the assessee by holding that mesne profit was taxable as revenue receipt in assessment year 1963 64 however the issue regarding taxability ..... appellate tribunal rules 1963 and contended that the aforesaid amount cannot be treated as mesne profits since such receipts originates from the agreement between assessee and nihpl in support of his .....

Asstt. Cit Vs. Godrej Industries Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

..... only one inference is drawn that for computing the book profit net profit is to be reduced by an amount computed under clauses ..... which is required to be reduced from the net profit is the profits derived from an industrial undertaking which is eligible for ..... the contention of the assessee that the adjusted book profit should be the profit derived from the industrial undertaking and is eligible for .....

Asstt. Cit Vs. Balarampur Chini Mills Ltd.

Court: Income Tax Appellate Tribunal ITAT Kolkata

Reported in: (2007)109ITD146(Kol.)

..... minimum tax which company requires to cope up if net profit in profit and loss a c after adjustment as per explanation under ..... erred in directing to allow deferred tax in determining book profit under section 115jb of the income tax act 1961 when ..... thereafter submitted that the assessing officer cannot alternate the book profit by making any addition other than the ones specifically mentioned .....

Moser Baer India Ltd. Vs. Dy. Cit

Court: Income Tax Appellate Tribunal ITAT Delhi

..... than seven and one half per cent of its book profit such book profit shall be deemed to be the total income of ..... and nil exemption under section 10b therefore while computing the book profit under section 115jb deduction under sections 10a and 10b should ..... computation of deduction under section 10a and wrong computation of book profit under section 115jb in the preliminary objections to the reopening .....

Aztec Software and Technology Vs. Acit

Court: Income Tax Appellate Tribunal ITAT

Reported in: (2007)107ITD141(Bang.)

..... in indian tax structure the multi national enterprises and their ability to allocate profits to sister concern associated enterprises outside indian jurisdiction by controlling prices in group ..... by unrelated enterprises performing comparable functions in the similar circumstances iii the combined net profit is then split amongst the enterprises in proportion to their relative contributions as .....

Ge Capital Transportation Vs. Asstt. Cit, Special Range 2

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (2008)113ITD22(Delhi)

..... to the adjustment made on account of provision made for leaseequalization charges while computing book profits under section 115jahad arisen for consideration before delhi a bench of itat in the case ..... shown under the head gross income c statutory depreciation should be shown separately in the profit and loss account accumulated statutory depreciation should be deducted from the original cost of the .....

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2007)11TTJ(Mum.)502

..... warrant for the proposition that only those expenses which are directly attributable to earning of profits derived from the business of industrial undertaking alone should be considered as already stated ..... respect of the transportation business identified as an undertaking in the agreement nor were profits arising therefrom indicated separately in the accounts it is therefore quite clear that the .....

Asstt. Commissioner of Vs. South Point Montessori School

Court: Income Tax Appellate Tribunal ITAT Guwahati

..... achievement of the main philanthropic purpose the assessee may carry on any activity for profit the profit should be redeployed in the same institution or in another similar institution additional cit ..... university or other educational institution existing solely for educational purposes and not for purposes of profits 14 on examination of the provisions of section 10 22 the conditions precedent to .....

Snc-lavalin/Acres Inc. Vs. Assistant Commissioner of Income

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (2007)110TTJ(Delhi)13

..... like manufacturing activity in one territory and sale of the products at another territory profits of the entire business arising to the assessee engaged in these operations would need ..... run business organizations will be used by the taxation authorities concerned to ascertain the profit properly attributable to that establishment the commentary further observes that such trading accounts of the .....

Deputy Commissioner of Income Tax Vs. Syncome Formulations (i) Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2007)106ITD193(Mum.)

..... provisions of section 115j expln iii to reduce the book profit by the profit eligible for deduction under section 80hhc which were to ..... and the deduction cannot be made out of the book profit considered for section 115ja 9 the learned standing counsel explained ..... it act provided 100 per cent deduction in respect of export profits earned by the exporters or supporting manufacturers section 80hhc and .....