Judgment Search Results Home > Cases Phrase: provisional collection of taxes act 1931 Court: income tax appellate tribunal itat mumbai Page 1 of about 2 results (0.037 seconds)

Walkeshwar Triveni Co-op. Hsg. Vs. Income Tax Officer, Ward 7(7)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)267ITR86(Mum.)

..... the commodities are available at a cheaper price so that at the end of the distribution of the commodities among themselves, a part of the original amount provisionally collected is repaid, then what is repaid cannot by any test be classified as income. ..... , and that there was a complete identity between the contributors to the common fund and the participators in the surplus.the following passage from the book on law of income tax, surtax and profits tax by wheat croft was quoted at page 267:- "it has also been established that the same principle applies although the contributors incorporate themselves into a separate entity carr out the ..... objects the promotion of the economic interest or general welfare of its members or of the public, in accordance with co-operative principles or a society established with the object of facilitating the operations of any such society, my be registered under this act; provided that, no society shall be registered if it is likely to be economically unsound, or the registration of which may have an adverse effect on development of the co-operative movement, or the registration of which may be contrary to ..... 254(3) of the income-tax act, 1961 (hereinafter called the act); the president of the income tax appellate tribunal (hereinafter called the tribunal) has constituted this special bench to consider the question "whether the transfer fee received by the co-operative housing society is exempt from income-tax by the principle of ..... -tax act seeks to tax .....

Satellite Television Asian Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

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

..... even though section 195 deals with provisional collection of tax, the invoking of section 40(a)(i) is final whereby an eligible ..... act provides for an exhaustive and express machinery for the recovery and collection of taxes ..... 195 other sums (1) any person responsible for paying to a non-resident, not being a company, or to a foreign company, any interest (not being interest on securities) or any other sum chargeable under the provisions of this act (not being income chargeable under the head "salaries" shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or ..... are taxable in india.the appellant respectfully submits that the above finding is erroneous and should be set aside.the learned cit(a) has erred in holding that the provisions of section 40(a)(i) of the act apply to the payment made by the appellant to the channel companies despite treating the appellant as an agent of the channel companies.the appellant respectfully submits that the above basis of assessment is erroneous ..... for public subscription before the 1st day of april, 1938), royalty, fees for technical services or other sum chargeable under this act, which is payable-- (b) in india to a non-resident, not being a company or to a foreign company on which tax is deductible at source under chapter xvii-b and such tax has not been deducted or, after deduction has not been paid during the previous year, or in the subsequent year before the .....

Walkeshwar Triveni Co-operative Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)88ITD159(Mum.)

..... available at a cheaper price so that at the end of the distribution of the commodities among themselves, a part of the original amount provisionally collected is repaid, then what is repaid cannot by any test be classified as income. ..... promotion of the economic interest or general welfare of its members or of the public, in accordance with co-operative principles or a society established with the object of facilitating the operations of any such society, may be registered under this act : provided that, no society shall be registered if it is likely to be economically unsound, or the registration of which may have an adverse effect on development of the co-operative movement, or the registration of which may be contrary ..... urban community necessitating its accommodation in proximity to cities and towns, lack of availability is land in urban areas, rise in price of building material, restrictions under various rent legislations, disincentives generated by tax laws and other laws for embarking upon housing construction on individual basis, security of possession depending upon fulfilment of the conditions of, membership of a society which are none to irksome." 9. ..... of the it act, 1961 (hereinafter called the act), the president of the income-tax appellate tribunal (hereinafter called the tribunal) has constituted this special bench to consider the question "whether the transfer fee received by the co-operative housing society is exempt from income-tax by the principle ..... act seeks to tax .....

Ruby Mills Ltd. Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1992)41ITD171(Mum.)

..... . they are : a" contingent, provisional or notional liability is not an allowable deduction under the income-tax act and it is allowable only when it has been ascertained and became capable of being ..... said show-cause notices and no liability to pay the excise duty actually accrued or arose against the assessee.furthermore, the assessee having succeeded on merits, vide the order of the high court dated 1-9-1931 quashing the proceedings initiated by the central excise authorities in this respect, there was no existing liability and although the collector of central excise had filed an appeal against the said decision, no further ..... section itself, a notice is issued at the first instance, calling upon the assessee to show cause within thirty days as to why the duty be not levied and collected from him.after hearing the objections of the assessee, the assistant collector/collector determines the amount of duty payable by the assessee under section 11 a(2) of the said act and requires the assessee to pay the duty ..... and prohibited the excise authorities to take any step or proceedings to levy or collect, demand or recover the amount of excise duty in pursuance to such notices ..... assessee does not pay excise duty in the year of manufacture or production as per the procedure laid down in that act, for any reason whatsoever and the excise authorities are of the view that was liable to pay the duty, they can levy and collect the same as per the provisions of section 11a of the said act.17 .....

Caribjet Inc. Vs. Dy. Cit, Circle 2(1)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)4SOT18(Mum.)

..... its aircrafts to air india and not carrying on "business of operation of aircraft".therefore, we agree with the lower authorities that the income of the assessee is not to be brought to tax under the provisions of section 44bba of the act.the next ground of the assessee on exemption under section 10(15a) is not discussed by us as the same was not pressed at the time of hearing and also for the reason that ..... when the assessing authority sought to assess the income of the assessee under the regular provisions of the income tax act, 1961, the assessee contended that its income should be assessed under section 44bba.alternatively, the contention of the assessee was that income deeming to accrue or arise in india is only such ..... case is to be administered under the regular provisions of the income tax act, 1961.the assessee itself was not owner of the aircraft brought under ..... under the provisions of section 10(15a), the lease rentals paid by an indian company to a foreign enterprise for acquiring an aircraft on lease is exempt from tax in india.the learned counsel further contended on the quantum of income worked out by the assessing authority, as an alternative ground, that the arbitration tribunal while fixing the profit at ..... she submitted that the order passed under section 195 was only a provisional order confined to the purpose of tds and section 195 does not override the provisions of section 143(3) in any manner.the entire income earned by the assessee out ..... were collected by the .....

Universal Generics (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1989)31ITD369(Mum.)

..... income becomes chargeable to income-tax at rates prescribed under the relevant finance act by virtue of the charging section, and the act envisages situations where income-tax is collectable without the process of regular ..... it would be seen from the above that an assessee is required to pay tax on self-assessment or is entitled to refund on provisional assessment on the quantification of the liability which is already definitely and finally created by the charging ..... the date of furnishing of the return, shall make in a summary manner within the said six months a provisional assessment of the sum refundable to the assessee, after making such adjustments to the income or loss declared in the return as are ..... provisional assessment for refund - (1) where a return has been furnished under section 139 and the assessee claims that the tax paid or deemed to have been paid under the provisions of chapter xvii-b, or xvii-c, exceeds the tax payable on the basis of the return and the accounts and documents accompanying it, the income-tax officer, if he is of the opinion that the regular assessment of the assessee is not likely to be made within six months from ..... the instance of the assessee, framed provisional assessment under section 141a of the act on a total income of rs. .....

Swan Mills Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1987)22ITD193(Mum.)

..... case of the assessee before us is far more strong insofar as the assessee has received both the demand notices and had made provision in its books of account and has also subsequently paid 50% of the tax, as directed by the supreme court, and only the remaining 50% still remained stayed.there is also merit in the contention of the learned counsel that the assessee's case before the supreme court is, more ..... -rule (1) deposited in, or removed from any place specified therein, the producer or manufacturer thereof shall pay the duty leviable on such goods upon written demand made within the period specified in section 11a of the act or old rule 10 by the proper officer, whether such demand is delivered personally to him, or is left at his dwelling house, and shall also be liable to a penalty which may extend to two thousand ..... in that case, the hon'ble supreme court was concerned with the character of the sales tax collected by an auctioneer which was not made over to the state exchequer nor paid to the ..... the mercantile system cannot be stretched to embrace all sorts of provisional, notional or contingent payments which, the assessee considers, it might be ..... bond is to pay the difference of duty as assessed provisionally and upon final assessment in respect of each consignment. ..... would be entitled to claim excise duty as a deduction, firstly, because it is a statutory liability and, secondly, because it is an ascertained liability and not a provisional, notional or contingent liability.15. .....

Surendra M. Khandhar Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... in which he made certain admissions regarding the ownership of the 110 bank accounts in the list of six pages marked as annexure a 3 to the panchnama is a valid statement under the income-tax act and whether it has any evidentiary value for framing the assessment in the case of the assessee for the assessment year 1991-92 and other years. ..... the tribunal, but if the tribunal requires any document to be produced or any witness to be examined or any affidavit to be filed to enable it to pass orders for any other substantial cause, or if the income-tax authorities have decided the case without giving sufficient opportunity to the assessee to adduce evidence either on points specified by them or not specified by them, the tribunal, for reasons to be recorded, may allow such document to ..... in other words, it contemplates that the collection cheques received by shri bhupendra chedda would be diverted to the extent of half of their proceeds towards the recovery of the balance amount of loan it also contemplates that the collection cheques would be deposited into a current account ..... for the following papers which were collected by the ac which clearly show that the transaction did not materialise : on this point, i rely on the decision of the bangalore bench of the itat in the case of additional income-tax officer v. t. ..... at least rupees five lakhs even though i cannot collect collection to that extent. ..... will be paid by 50% of collection cheques and current account will be ..... of collection cheques .....

Kishor Laxmidas Thakkar Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)7SOT586(Mum.)

..... for transaction of any business relating to the entry or departure of conveyances or the import or export of goods at any customs station.octroi refund agent is a person who is licensed to act as an agent for getting the octroi refund claim sanctioned for the importer of the goods.it involves a highly technical nature of the work to be done in connection with clearance of imports into and exports out of country.it involves ..... the authorised agents of various businessmen who represent them before municipal authorities for collecting refunds on excess octroi will fall under this category also.he held that the assessee is assigned with the job of representing the business houses before the municipal authorities and gets the remuneration ..... assessing officer rejected the above claim.the assessing officer was of the opinion that assessee was carrying out an activity as agent for collection of octroi duty and the activity of the assessee is rather professional than commercial. ..... firstly the learned commissioner (appeals) noted that the assessee has claimed credit for payment of tax deducted at source and for that act certificates from so many parties have been attached with the return. ..... the assessing officer held the collection of octroi duty needs a specialized knowledge and skill in that particular line and, therefore, it can easily be characterized as professional ..... case was selected for scrutiny.the assessee is engaged in the business of carrying out as agent for octroi collections. .....

Christiani and Nielsen Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1991)39ITD355(Mum.)

..... specific provision in aadt to deal with the taxation of fees for technical services and, therefore, the provisions of the income-tax act would apply and the fees received by the assessee would be taxable under section 9(1)(vii). ..... nature of industrial or commercial profits and, therefore, one could say that there is no specific provision dealing with the taxability of fees for technical services and, in such circumstances, the provisions of income-tax act, 1961, particularly section 9(1)(vii) would apply and the fees would be taxable in india. ..... 20,11,527 being the fee received by the assessee under the agreement dated 8-4-1982 for conducting preliminary studies, collection and assimilation of data and finally preparing a feasibility report with regard to trans-harbour communication link between the island city of bombay ..... rents, royalties, interest, dividends, management charges, remuneration for labour or personal services or income from the operation of ships or aircraft but shall include rents or royalties in respect of cinematographic films.the prohibition is to levy tax in one of the territories on the profits earned by a concern umess the profits are derived through a permanent establishment of the said enterprise situated in that territory. ..... in preparing the project by conducting preliminary studies, collection and assimilation of data and finally preparing the feasibility report and, in this case, with regard to trans-harbour communication link between the island city of .....