Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 147 computation of period of sentence Court: income tax appellate tribunal itat Page 1 of about 11 results (0.603 seconds)

M/S United Leasing and Industries Ltd. Vs. Dy. Commissioner of Income ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... delhi, which was dishonoured and the assessee company has filed criminal complaint against m/s crest export pvt. ltd. u/s 138 r/w section 142 of the negotiable instruments act, 1981. 6. the ar submitted that the authorities below ignored the above dispute between the assessee and m/s crest export pvt. ltd. and made the disputed addition of ..... accordingly, the services of a company secretary were used who concluded that the said crest exports pvt. ltd. was not a company covered under section 301 of the company's act 1956 and issued a certificate. " 3.2 in this regard, it is found that ao has made addition by observing that interest paid to unsecured loans to related person ..... institutions to that extent cannot be held to be use of funds for business purposes and no deduction accordingly can be permitted under section 36(1)(iii) of the act. in that judgment it is inter-alia held that the theory of nexus has no relevance for consideration of point in issue as different sources of receipts in a .....

Escorts Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)104ITD427(Delhi)

..... that he was never informed about the proposed merger of the delhi society with the chandigarh society. thus the provisions of section 12 of the societies registration act, 1860, were violated. (c) the minutes books of the chandigarh society found during the course of survey by the investigation directorate, chandigarh, revealed that ..... the chandigarh society contemplates vesting of all assets of the delhi society with the chandigarh society and by virtue of the provisions of the societies registration act, 1860, in particular section 13 thereof the properties of the delhi society vest with the chandigarh society, the moment the formalities required for such ..... division related to production, planning, hr and payroll planning, etc.the expenditure has been claimed as revenue expenditure deductible under section 37(1) of the act. the ao held that the impugned expenditure resulted in enduring benefit to the assessee and therefore was liable to be considered as a capital expenditure. he .....

Tata Chemicals Limited Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)67ITD56(Mum.)

..... - vii s. p. pandey - promoted14. g. c. negi app. authority audit - iii kamlesh argal - promoted16. prakash chandra dc(osd) sett. comm. h. c. sakharwal - promoted17. mrs. seema dc(osd) sett. comm.v. k. bakshi k. patra18. l. r. singh dc(hq) admn.ddi, unit - ii karn singh - promoted19. sudhir chandra sr. a. r. cent. rg. ..... would be that mr. tralshawala's appointment as "authorised representative' is invalid, and the further consequence would be that he cannot validly appoint mr. modi "to act" for him.28. arguments were advanced by both sides on the question whether the requirement that the notification should be gazetted is a mandatory requirement or is ..... , where the cleavage between the original and appellate jurisdictions continued to be marked due, as we have seen, to historical reasons, the functions of pleading and acting, which a legal practitioner normally combines in his own person were bifurcated and assigned, following 'the usage and the peculiar constitution of the english bar' (per .....

Mitsui and Company Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... payment as per details given below : -------------------------------------------------------------------- financialyear amount of short interest under s. deduction of tax deposited 201(1a) of the later act -------------------------------------------------------------------- rs. rs. -------------------------------------------------------------------- 1989-90 7,33,636 6,64,099 1990-91 47,17,597 37,11,590 1991-92 1,46 ..... infrastructural facilities incidental to trading activities. the company was granted permission by the reserve bank of india under the foreign exchange regulation act to set up a liaison office allowing to undertake only liaison work and not any activity of trading, commercial or industrial nature ..... separate books of account and also maintained separate bank accounts. each office was headed by a general manger. the general managers acting as disbursing officers paid salaries to its employees as per the terms of their appointment in india. both obtained tax deduction account .....

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... and appellant earned dividend income at rs. 1,82,12,862/- which was not taxable in view of section 10(33) of the income-tax act.particulars purchase sale gain/loss dividend date amount date amount date amountunits of 24.3.00 80000000-------------------------------------------------------------------------------- 29.3.00less 2376778 27.3.00 59055207. ..... 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." 35. the ..... assessee filed appeal before the learned cit(appeals). the assessee submitted that units of mutual funds were regulated by an independent body constituted under the act of parliament, viz., sebi. the assessee had followed the prescribed procedure and the transactions with the mutual funds were at arms length. the .....

The Dy. Commissioner of Vs. Bijal Investment Co. Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)108ITD432(Ahd.)

..... shares in respect of which it is a member, would not, thereby obviate, or cause to nullify or render nugatory, the effect of section 536(2) of the companies act, which shall have effect, as also confirmed by the ol, with all its incidental effects and consequences. the assessee has pressed an argument that it has, instead of ..... the surplus arising out of liquidation proceedings, as also contended by the assessee, so that the same having been declared as void under section 536(2) of the companies act, 1956, there was no question of any capital gain or loss arising out of the transaction(s) of said transfer.aggrieved, the assessee preferred an appeal before the ..... to secure the financial assistance by idbi to rmil, and to which transaction the asses see-company was/is a guarantor/surety; (d) section 536(2) of the companies act, 1956 proclaims any transfer of shares in a company, or alteration in the status of its members, after the commencement of its winding-up, as void, unless ordered .....

Cedan Vinmay (P) Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2004)90TTJ(Ahd.)174

..... as the assessee-company had not done the business of consignment agent for any outside parties. the assessing officer had also pointed out that the assessee could not have acted as an agent without a specific resolution as per provisions of section 149(2a). the assessee furnished a reply which according to the assessing officer was not satisfactory. ..... that the findings of the revenue authorities in this regard may be reversed and the claim of the assessee that it carried on the business of financing, trading and acting as agent, etc. may be accepted. it was also contended that since the assessee has carried on the business during the year under appeal, the expenses incurred for ..... if it is assumed that such a resolution was passed, it cannot be said to be in compliance to the provisions of section 149(2a) of the companies act as no other resolution was passed after the incorporation of the company within the meaning of section 149(2a). therefore, the claim of the assessee that the business .....

Edward Keventer Pvt. Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD347(Kol.)

..... believe transaction and dubious means cannot be recognised. the hon'ble gujarat high court in the case of banyan & berry (supra) has observed that if the acts are unambiguous and bona fide, but results in reduction of tax liability or expectation of tax benefit in future does not amount to colourable device, dubious method or ..... -company to five sister companies were immediately transferred by the keventer in its share register in spite of the applicability of section 79 of the i.t.act and existence of a restrictive clause in the loan agreement entered into by the keventer with financial institutions whereby the keventer was restrained by financial institution not ..... setting off brought-forward losses as the assessee-company at that time had no holding or interest whatsoever in the keventer by the reason of its own act of selling previously the entire holding in keventer to five companies. the assessee-company's contention, which is mentioned in assessee's written submission filed before the .....

Vijay Solvex Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2005)92ITD24(JP.)

..... @ 15% 4227 5164vehicle 23250 7749 @ 20% 4650 3099 -------------- -------------------------- 7228897 2768990 4459907 -------------- -------------------------- book profit for the purpose of section 115j of the income-tax act : 4348348 since the book profit was more than the total income computed otherwise, the tax was levied on the 30% of the book profit by the assessing officer ..... clarified the position that the gross total income worked out under chapter via would mean the income after allowing deductions under various sections of the act upto chapter vi itself. this would, therefore, mean that deductions under chapter via are to be allowed on the net income worked out ..... authors, chaturvedi & pithisaria's in vol. 2, fourth edition of their book 'income-tax law' page 2416."computed in accordance with the provisions of the act" implies - (1) that deductions under appropriate computation sections have already been given; (2) that income of other persons, if includible under sections 60 to 64 .....

NavIn Kumar and Ashu Bagla Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Amritsar

..... officer that the assessee was making repayment of loans regularly. he noted the circumstances under which penalty was imposed under section 269ss of the income tax act.the learned judicial member thereafter noted the proceedings which took place before the learned commissioner (appeals). he further referred to the statement of shri harbans ..... in the ultimate para, the learned accountant member observed as under -- "in the present cases, the authorities below have failed to establish that these persons acted in conscious disregard of the statutory obligation and they were guilty of contumacious or dishonest conduct.in the light of these facts and circumstances of the cases ..... the absence of the reasonable cause in the context of the explanation offered. the assessing officer, in arriving at his satisfaction in such a situation, acts in a quasi-judicial capacity. the proceeding for imposition of penalty is a quasi-criminal proceeding. the satisfaction has to be reached by the assessing officer .....