Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 1 short title and commencement Sorted by: old Court: income tax appellate tribunal itat chandigarh Page 2 of about 11 results (0.113 seconds)

Jawahar Lal Oswal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... as soon as a credit was found in the assessees" accounts. on the question of protective assessment, he stated that this was nowhere provided in the income-tax act but according to him, the logic behind such an assessment was the protection of the legitimate revenues of the state. we may, however, mention that no reported decisions ..... substantive ones. the ld. counsel infact stated a legal proposition to the effect that a protective addition could not be made by invoking section 68 of the income-tax act, 1961.according to him, a relationship of debtor and creditor should exist whereas the assessees, i.e. miss monica oswal and miss ruchika oswal, categorically stated that ..... contending that one had to examine the entire issue from a practical angle rather than apply the analogy of cash credits as understood in section 68 of the income-tax act, 1961. according to the ld. counsel, the following facts were required to he kept in mind and considered :- 1. distance between a donor residing abroad and .....

Deputy Excise and Taxation Vs. Income-tax Officer (Tds)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2001)77ITD108(Chd.)

..... fee does not by itself give rise to any income generating transaction. it may be seen that the heading of sub-chapter bb of chapter xvii in the income-tax act, 1961 under which section 206c falls, gives the narration as "profits and gains from the business of trading in alcoholic liquor, forest produce, scrap etc." and it cannot ..... specified in the table attracting t.d.s. provisions. we may now examine the matter from another angle as well. sub-section (1) of section 206c of the act requires that every seller of alcoholic liquor for human consumption other than indian made foreign liquor shall collect from the buyer 10% of the amount payable at the time ..... right to receive the goods. since no goods have been sold by the excise and taxation commissioner, he cannot be described as a seller within the meaning of the act. the aforesaid view expressed by the jurisdictional high court clearly resolves the main controversy in the present appeals i.e. whether the state of haryana becomes a 'seller' .....

Morinda Co-operative Sugar Mills Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2001)78ITD189(Chd.)

..... is in cases referred to special bench of the tribunal. since the issues referred to special bench are of wider import, notices are sent to the parties to act as intervenors. the said procedure cannot be adopted in division bench cases, where specific appeals within the jurisdiction of the bench are listed for hearing. in the ..... into existence of a new product - a product which is of a different chemical composition or whose integral structure is different. processing could be said to be doing specific acts to something for changing its shape or size. ld. dr further relied on the following decisions in support of order of cit - (a) south arcot district co- ..... list-iii. the issue was power to levy market fee. the apex court observed that the definition of 'agricultural produce' in the rajas than agricultural produce marketing act. 1961, was not exhaustive but inclusive and neither excludes any item produced in mills or factories nor confines its width only to produce from the soil. the switch .....

Deputy Commissioner of Vs. Metalman Auto (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2001)78ITD327(Chd.)

..... is whether the expenditure could be allowed under section 35ab. it was the contention of the ld counsel for the assessee that there being specific section in the act, expenditure incurred should be allowed under section 35ab. for this purpose, it would be relevant to refer to the memorandum explaining the purpose of provisions of section ..... on by both the parties. now the first issue that needs to be addressed is whether expenditure incurred by the assessee is allowable under section 37 of the act. the facts placed on record show that the assessee had debited the expenditure to the profit and loss account and claimed deduction of the same under section ..... law arising from facts which are on record in the assessment proceedings. he, therefore, submitted that expenditure incurred by the assessee is allowable under section 35ab of the act.subsequently the ld counsel for the assessee furnished the page of the judgment of the supreme court in the case of madras auto service (p.) ltd. (supra). .....

Biru Mal Pyare Lal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... must support such disclosure with some independent material and evidence failing which the assessing officer would be justified in adding unexplained credits under section 68 of the act. thus, it is clear from the facts of the case that the assessing officer has accepted the cash credits without making inquiry into the creditworthiness of ..... the identity of the creditors, creditworthiness of the creditors and genuineness of the transactions. failure to do so results in addition under section 68 of the act. now, in this case the assessing officer has merely accepted the credits on the basis of confirmations filed without making any further inquiry to ascertain the ..... and documents which indicated that the assessee was carrying on parallel business outside the regular books of account. thereafter, a notice under section 139(2) of the act was issued. the assessee filed return declaring therein loss of rs. 43,810. on the basis of entries in the duplicate sets of accounts, the assessing .....

Biru Mal Pyare Lal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... assessee must support such disclosure with some independent material and evidence failing which the ao would be justified in adding unexplained credits under section 68 of the act. thus, it is clear from the facts of the case that the ao has accepted the cash credits without making inquiry into the creditworthiness of the creditors ..... establish the identity of the creditors, creditworthiness of the creditors and genuineness of the transactions.failure to do so results in addition under section 68 of the act. now, in this case the ao has merely accepted the credits on the basis of confirmations filed without making any further inquiry to ascertain the creditworthiness of ..... and documents which indicated that the assessee was carrying on parallel business outside the regular books of accounts. thereafter, a notice under section 139(2) of the act was issued. the assessee filed return declaring therein loss of rs. 43,810. on the basis of entries in the duplicate sets of accounts, the ao completed .....

Highway Cycle Industries Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... . as regards question no. 1, we hold that all items of receipts of eligible business are entitled to deduction under section 32ab of the it act. however, receipts like construction, manufacture or production of articles specified in the list of the eleventh schedule as also receipts from business of leasing ..... years of losses or sick companies. therefore, the enactment proposed to allow past losses or unabsorbed depreciation, whichever was less, under section 205 of the companies act. their lordships after considering the purpose of the legislature adopted the following interpretations suggested by justice g.p. singh in "principles of statutory interpretation" (7th edn ..... on prosperous zero-tax companies, is as under; "115j. special provisions relating to certain companies.--(1) notwithstanding anything contained in any other provision of this act, where, in the case of an assessee being a company (other than a company engaged in the business of generation or distribution of electricity), the .....

Highway Cycle Industries Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2002)74TTJ(Chd.)171

..... regards question no. 1, we hold that all items of receipts of eligible business are entitled to deduction under section 32ab of the income tax act. however, receipts like construction, manufacture or production of articles, specified in the list of the eleventh schedule as also receipts from business of leasing ..... of losses or sick companies. therefore, the enactment proposed to allow past losses or unabsorbed depreciation, whichever was less, under section 205 of the companies act. their lordships after considering the purpose of the legislature adopted the following interpretations suggested by justice g.p. singh in principles of statutory interpretation" (7th edn ..... prosperous zero-tax companies, is as under : "115j. special provisions relating to certain companies .(1) notwithstanding anything contained in any other provision of this act, where, in the case of an assessee being a company (other than a company engaged in the business of generation or distribution of electricity), the .....

S.A. Builders Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2003)86ITD58(Chd.)

..... circumstances of the case and the legal position discussed above, we find that the decision of the authorities below is in conformity with the provisions of the act. therefore, the same does not merit any interference. accordingly, while we admit the additional ground, yet the same is rejected on merits.the last ..... have been enacted. respectfully following the above-mentioned three judgments of andhra pradesh, delhi and karnataka high courts and also by referring to the provisions of the act, we hold that iearned commissioner (appeals) was justified in confirming orders of assessing officer. we confirm the orders of commissioner (appeals) and reject the grounds ..... as having gone out of the hands of the assessee irretrievably and cannot, therefore, be considered as an item of deduction even under section 28 of the act. we, therefore, hold that this item along with three earlier items discussed above have been correctly disallowed as a deduction by the revenue authorities. this ground .....

Punjab Tractors Ltd. Vs. Dy Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)89TTJ(Chd.)439

..... industrial undertaking and, therefore, the same could not be included in the business profit for the purpose of computing deduction under section 80hhc of the income tax act. the reliance of the learned counsel for the assessee on the judgment of the supreme court in the case of karnal co-operative sugar mills ltd. cited ..... accepting the expansion of the existing manufacturing tractor unit as a new industrial undertaking and thereby rejecting the claim of deduction under section 80-i of income tax act, 1961.(sic 1) 4. it is also contended that the commissioner (appeals) had erred on facts that the profits between the old and the new industrial ..... learned commissioner (appeals) is not justified in confirming the action of the learned assessing officer in rejecting the claim of deduction under section 80-1 of income tax act, 1961, of the appellant as a whole.2. that the learned commissioner (appeals) is not justified in confirming the learned assessing officer's action though on different .....