Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 6 enrolment Sorted by: old Court: income tax appellate tribunal itat ahmedabad Page 1 of about 94 results (0.190 seconds)

Apara Textile Traders Ltd. Vs. Surtax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)2ITD600(Ahd.)

..... i.e., rs. 1,629, should be deducted under section 2(5), read with rule 2(i) of the first schedule, of the companies (profits) surtax act, 1964 ('the act'), for the purpose of computing the chargeable profits. the claim was that the deposit of rs. 22,100 under the aforesaid scheme was nothing but a payment of ..... during the financial year commencing on the 1st day of april, 1976, any deposit with the industrial development bank of india established under the industrial development bank of india act, 1964 (18 of 1964), under any such scheme as the central government may, by notification in the official gazette, frame in this behalf, then, the surcharge on ..... government under the companies deposits (surcharge of income-tax) scheme, 1976, clearly envisages deposits and not payments.as already pointed out, section 2(8) of the finance act, 1976, does not treat the amount of deposit as a payment towards the surcharge liability. it only provides for reduction of the surcharge liability to the extent of .....

Harilal Ambalal (Huf) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1984)9ITD380(Ahd.)

..... thereto, will further the legislative intent in regard to the enlargement of the share of female heirs, qualitatively and quantitatively. the hindu law of inheritance (amendment) act, 1929, conferred heirship rights on the son's daughter, daughter's daughter and sister in all areas where the mitakshara law prevailed. section 3 of the ..... of section 171, members of the assessee-huf applied for recording a partial partition in respect of such properties which were already divided under the hindu succession act, but wanted recognition of such partition under section 171. he, therefore, submitted that once the properties of the assessee-huf were divided amongst its members by ..... for the assessee, the decision in the case of kalloomal tapeswari prasad (huf) (supra) shows that the claim for partition or partial partition under the act is quite different from such partition under the hindu law. a partition or partial partition even though valid one under the hindu law, would not automatically be .....

Erach S. Mehta Vs. Second Assistant Controller of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1987)22ITD266(Ahd.)

..... providing the annuities for the beneficiaries, the trustees shall (i) enter into a scheme of insurance with the life insurance corporation established under the life insurance corporation act, 1956 (31 of 1956), or (ii) accumulate the contributions in respect of each beneficiary and purchase an annuity from the said life insurance corporation of india ..... his becoming incapacitated prior to such retirement, to the extent to which such payment does not, exceed the contributions made prior to the commencement of this act and any interest thereon. a reading of the above provision clearly shows that the payments from approved superannuation funds on the death of a beneficiary or ..... according to us he has misinterpreted the same inasmuch as the words used are "fifteen thousand rupees per annum". a reading of the provisions of the act as well as the rules pertaining to superannuation funds clearly shows that during the lifetime of an employee, the employer is supposed to contribute to the approved .....

Bhavana N. Nanavaty Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1988)26ITD182(Ahd.)

..... certain shares to her as a beneficiary.thereafter, the learned counsel for the assessee had also referred to sections 50, 55, 56, 58 and 69 of the indian trusts act, 1882, which contain 'trustee may not charge for services', 'rights to rents and profits', 'right to specific execution', 'right to transfer beneficial interest' and 'rights ..... as a trustee, if the beneficial enjoyment is retained in the transferor, there is no gift or transfer of property which could be subject to charge under this act, and similarly, even though a transferor retains the property himself in second instance, as the beneficial enjoyment of the property has shifted, such a declaration of trust ..... beneficiaries. in this view, of the matter, the trustees of the trust in question would qualify as 'donee' as defined in section 2(viii) of the act. further, the shares transferred by the assessee to the trust in question were without consideration inasmuch as the terms and conditions contained in the deed of trust would .....

Wealth-tax Officer Vs. Shrimant F. P. Gaekwad

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1989)28ITD23(Ahd.)

..... the learned author has referred to the decision of the madras high court in 46 ilr (mad.) 19 where the controversy had arisen under the court fees act/land acquisition act. it was, therefore, contended that no value could be attached in respect of 30 idols.9.4 we have already seen, that the iac has already excluded ..... article intended for the personal use of the assessee and in that case, the particular jewellery would fall to be governed by section 5(1)(xv) of the act. the finance act, 1971, by deleting w.e.f. 1-4-1963 the exemption clause (xv) (jewellery belonging to the assessee subject to a maximum of rs. 25,000 ..... parts. firstly, ornaments which are studded with diamonds, precious stones and semi-precious stones for which exemption was claimed under section 5(1)(viii) of the wealth-tax act. secondly, the jewellery simpliciter required to be added on the basis of retrospective amendment. the commissioner (appeals) rejected the contention in respect of the retrospectivity of the amendment .....

Sangita Trust No. 1 Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1994)50ITD66(Ahd.)

..... and that the provisions of section 21(4) are applicable and the assessees are not entitled to any exemption/deductions as provided under section 5(1a) of the wt act is confirmed. ground no. 3 taken in all these appeals is, therefore, rejected.8. the learned counsel for the assessee, however, vehemently argued that the alternative ..... be separately computed and considered for deciding the question as to whether each one of them exceeds the taxable limits prescribed in the rate schedule of the wt act cannot be accepted as the provisions of section 21(4) clearly provides that in the case of a private discretionary trust where the shares of the beneficiaries ..... valuation can be taken into consideration for arriving at the conclusion as to whether the same exceeds the taxable limits prescribed in the rate schedule of the wt act of the respective years.13.9 the assessees have furnished various charts showing the computation of market value of entire trust property, value of the life interest .....

Prabhat Oil Traders Vs. Income-tax Officer (No. 1)

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... 13, 1982, respectively, from united brothers ("ub", for short), merchants and commission agents, dhasa, bhavnagar district. in his statement under section 131 of the income-tax act, 1961, before the assistant director of inspection (investigation), surat, dated january 30, 1984, sjp had stated that the quality of goods purchased under the abovementioned two ..... also an admitted fact that the assessee firm did not enter these bills in its books of account. in his statement under section 131 of the income-tax act, 1961, before the assistant director of inspection (investigation), surat, on january 30, 1984, shri shailesh jayantkumar parekh--partner, at whose residential premises the above- ..... passed.5. for further verification of the appellant's plea, the officer assessing the firm of united brothers conducted survey operations under section 133a of the act on march 2, 1984, and impounded the account books of the said firm of united brothers for the relevant period. the copies of accounts of .....

Emtici Engineering Limited Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... case of smt. pratima roy (supra) the hon'ble calcutta high court has held that in determining the real annual value under s. 22 r/w s. 23 of the it act, 1961, the rent receivable should be taken into consideration and not the amount actually/supposed to have been received by the assessee. therefore, where an assessee leased out his house ..... engg. co. ltd. and power build ltd. have filed applications in the civil court at anand for fixing up the rent of the honest house considering the prevailing rent control act. the learned civil judge, anand has fixed up standard rent at rs. 1,250 and rs. 750 per month from m/s elecon engg. co. ltd. and m/s power ..... claimed that the rent received in these years should be taken as the correct alv of the property. reliance was placed on the civil court's order under rent control act fixing the standard rent at rs. 1,250 per month for elecon engg. co. ltd. and rs. 750 per month for power build ltd. the ao rejected the civil court .....

Growth Leasing and Finance Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1998)66ITD67(Ahd.)

..... suffered heavy losses and accordingly the maharashtra government declared it as a relief undertaking under the provisions of the bombay relief undertaking (special provisions) act, 1958 and it was also referred to bifr for revival. nirlon also suffered heavy losses and was not in a position to pay back even ..... ii) lease rentals 7,49,856 ----------- the government of maharashtra declared nsfcl as a relief undertaking under the provisions of the bombay relief undertaking (special provisions) act, 1958. nsfcl has made reference to the board for industrial & financial reconstruction (bifr) for determination of measures to be adopted with respect to the company ..... lakhs towards lease rental.fourthly, the government of maharashtra had declared nirlon as a relief undertaking under the provisions of bombay relief undertakings (special provisions) act, 1956. on 31st march, 1988, a reference was also made to the board for industrial reconstruction for determination of measures to be adopted for revival .....

Nirvan Prints Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... assessee vehemently argued that in the facts and circumstances of the case, the cit was not correct while exercising his revisional jurisdiction under s. 263 of the act, particularly, when the assessment order passed by the ao was neither erroneous nor prejudicial to the interest of revenue. he further pointed out that the basis of ..... claim of expenses, the assessment finalised is considered as erroneous and prejudicial to the interest of revenue , which requires to be revised under s. 263 of the it act." 4. before the cit, it was submitted by the assessee that the assessment order passed by the ao was neither erroneous nor prejudicial to the interests of revenue ..... , the cit found that the assessment passed by the ao was erroneous and prejudicial to the interests of revenue. while exercising revisional jurisdiction under s.263 of the act, the cit issued a show-cause notice to the assessee to the following effect : "on verification of case records and the assessment finalised under s. 143(3 .....