Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 152 effect of suspension and remission of sentence on dismissal Court: income tax appellate tribunal itat chennai

Tamil Nadu Minerals Ltd. Vs. the Jt. Commr. of I.T., Spl.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)281ITR101(Chennai)

..... meal centres before the chief minister's birthday, besides the hon'ble chief minister had ordered to take up the question of exemption of this expenditure under the income-tax act to those who made the contribution. there is absolutely no business nexus with these expenses. as such, it cannot be allowed under section 37(1).10. the next issue ..... on of the assessee's business or which results any benefits to the assessee's business has to be regarded as an allowable deduction under section 37(1) of the act. it is, therefore, important to see that whether the contribution was made towards the welfare fund or directly connected or related with the carrying on of the assessee' ..... minister birth day on 24.2.1992. further, the hon'ble chief minister has ordered to take up the question of exception of this expenditure under the income-tax act in those who made the contribution. i knew very well that you have more anxiety and tamin is leading in this cause than other public sector undertakings. i also .....

Tamil Nadu Minerals Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)100TTJ(Chennai)738

..... renovate noon-meal centres before the chief minister's birthday, besides the hon'ble chief minister had ordered to take up the question of exemption of this expenditure under the it act to those who made the contribution. there is absolutely no business nexus with these expenses. as such, it cannot be allowed under section 37(1).10. the next ..... the assessee's business of which results in any benefit to the assessee's business has to be regarded as an allowable deduction under section 37(1) of the act. it is, therefore, important to see that whether the contribution was made towards the welfare fund or directly connected or related with the carrying on of the assessee ..... ble chief minister's birthday on 24th feb., 1992. further, the hon'ble chief minister has ordered to take up the question of exemption of this expenditure under the it act to those who made the contribution. , i know very well that you have more anxiety and tamin is leading in this cause than other public sector undertakings. 1 .....

The Assistant Commissioner of the Karur Vysya Bank Ltd., Income Tax, C ...

Court : Income Tax Appellate Tribunal ITAT Chennai

..... mumbai in computing depreciation and it had not offered any interest accrued on securities for taxation. therefore, the assessing officer issued reopening notice under section 148 of the "act". in response to reopening notice, the assessee chose to file another 'return'. this time, it disclosed income of `.116,88,68,080/-. the assessing officer, ..... . in the instant case, the undisputable facts on record establish beyond doubt that the reasons recorded for initiation of proceedings under section 147/148 of the act were never furnished to the assessee by the assessing officer before completion of the assessment proceedings on 29/12/2008, 33 months after the request was made ..... cited by the revenue. in principle, the revenue is not even disputing that the assessee is entitled for writing off debts under relevant provisions of the "act". its submission is for the purpose of verification so as to avoid double deduction, the assessing officer be directed to reverify assessee's claim in view of .....

A.R.R. Trust Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)280ITR152(Chennai)

..... land to start 2nd unit of the school. hence it cannot be aid that trust was existing for the purpose of earning profit.18. the decision of acit v. bal bharti nursery school (supra) rests on an altogether different facts. in that case, it was shown that secretary of the society had absolute power to refuse admission to any ..... the contents of the cit(appeals) order and submitted that diversion of funds was clearly proved by the cit(appeals). he then relied on the decision of acit v. bal bharti nursery school, 82 itd 71, where in case of diversion of funds, society was held not to be eligible for deduction under section 10(22). he also ..... any restriction regarding mode of investment of funds, such institutions are not required to invest the funds in the mode specified under section 11(5) of the income-tax act." thus it is clear that educational institutions are not required to make investments in any specified assets prescribed by any authority, which means, they can park their surplus funds .....

Neyveli Lignite Corporation Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)93TTJ(Chennai)685

..... reached. the learned departmental representative referred to p. 53 of the paper book wherein the memorandum of settlement under section 12(3) of the industrial disputes act, 1947, between the company and nlc workers progressive union is contained. she pointed out that the said settlement was entered into on 29th june, 2001. ..... 1995 between the management and workmen of the neyveli lignite corporation represented by the joint council of unions. settlement under section 12(3), of the industrial disputes act, 1947, was subsequently signed on 26th aug., 1995 which was valid till 31st dec., 1996. on account of expiry of the existing settlement, a bipartite ..... that the committee on disputes has not accorded its approval for raising the issue regarding jurisdiction of the cit invoking the provisions under section 263 of the it act. accordingly, this ground of appeal challenging the assumption of jurisdiction by cit was not pressed before us.accordingly, the said ground is dismissed as not pressed .....

Diebold Systems (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)104TTJ(Chennai)410

..... of the expenditure as is so considered by him to be excessive or unreasonable shall not be allowed as a deduction.section 40a(2) of the act put curb on expenditure in respect of payment made to close associates referred in clause (a) of the section towards purchase of goods, services rendered, ..... 7. bop chandigarh 324 225,000 50,568------------------------------------------------------------------------------------ 20. now we have to consider whether invoking the provisions of section 40a(2)(a) of the it act by the ao is justified or not. section 40a(2)(a) reads as under: where the assessee incurs any expenditure in respect of which payment has ..... the assessee cannot have any grievance towards addition as the assessee itself has agreed for offering this amount for taxation while examining under section 131 of the it act and also by its own letter cited (supra). in the case of ramanlal kamdar v.cit , the hon'ble madras high court has held that .....

Fidelity Textiles (P) Ltd. Vs. the Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chennai

..... s case. finally, the ld. accountant member was of the opinion that the waiver of loan amount cannot be treated as casual income under section 10(3) of the act and therefore, he set aside the orders of the authorities below and deleted the addition in question by following the decision of the bombay high court in cadell weaving mill ..... he, therefore, treated the amount in question as a revenue receipt and accordingly brought it to tax after granting exemption of rs. 5,000/- under section 10(3) of the it. act, 1961.6. before the ld. cit(a) the same contentions were reiterated on behalf of the assessee and the same decisions were pressed into service.however, the ld. cit( ..... "a", chennai, the following question has been referred by the hon'ble president of itat for my opinion as third member under section 255(4) of the income-tax act, 1961. on the facts and circumstances of the case, whether waiver of loan constitutes income of the assessee or not? 2. the facts which are relevant and material to .....

Laser Soft Infosystems Ltd. Vs. the Income Tax Officer, Prince Info Pa ...

Court : Income Tax Appellate Tribunal ITAT Chennai

..... ) have failed to appreciate the fact that expenditure incurred on the development of new product is revenue in nature. the expenditure is allowable under section 37 of the income tax act, as the same was incurred wholly and exclusively for the purpose of business of the assessee company. the expenditure in relation to product development has neither generated any capital asset ..... of the assessee company and the treatment given in books would not affect the claim of deduction under the provisions of the income tax act. the assessee claimed that the expenditure is allowable under section 37 of the act. the assessee made an alternate prayer that in case the expenditure is to be treated as capital in nature, the assessee is entitled .....

income Tax Officer (Osd) Vs. Shri Swasan Chemicals (M) Pvt.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)300ITR171(Chennai)

..... (p) ltd. 255 itr 15 (at).11. we have carefully considered the rival contentions and perused the relevant records. section 80ib of the income-tax act provides deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings. in sub-section (2) briefly following conditions have to ..... pulverizing plastic granules into plastic moulding powder is a process of manufacture and the moulding powder is an excisable commodity falling for classification under central excise tariff act, 1985.9. the learned counsel of the assessee further placed reliance upon following case laws:cit v. sree krishna pulverising mills (a.p.) 10. the ..... erred in holding that the assessee is engaged in manufacture of specialized polymer alloys in powder form and is entitled to deduction under section 80ib of the act.3. in this case the assessee company is an ssi unit engaged in manufacturing of plastic powder and claims deduction under section 80ib. during the .....

Sri V.G. Ramachandiron Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)284ITR53(Chennai)

..... is mentioned even if received in instalments, this clearly means it is clarificatory in nature and it is curative. the memo explaining the provisions of the finance act' 2003 and the cbdt circular cited above was clearly aimed at solving the problem of retired employees that those persons who received the compensation in instalments spread ..... of section 10, any amount received by an employee of a public sector company or any other company or an authority established under a central, state or provincial act or a local authority or a co-operative society, or a university, or indian institute of technology, or state or central government, or an institution having central ..... of income-tax (appeals). before the commissioner of income-tax (appeals), the assessee claimed that he is entitled to deduction under section 10(10c) of the act as he has claimed such exemption only in respect of unavailed portion of compensation for which he is eligible. the second instalment of compensation received by the .....