Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 6 enrolment Sorted by: old Court: income tax appellate tribunal itat delhi Year: 2003 Page 1 of about 7 results (0.161 seconds)

Anz Grindlays Bank Vs. Dy. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)88ITD53(Delhi)

..... according to which the word 'commodity' would include any article of trade. to buttress his arguments, he also referred to the definition of 'goods' in sale of goods act and in frca. according to him, the words 'commodity' and 'goods' are interchangeable and thus, would include shares, securities, units, debentures etc. hence, expression " ..... and shares'. she also pleaded that the legislature has considered the 'commodity' as distinct from 'securities' since trading in commodity is regulated by forward contract regulation act (in short fcra) while trading in securities is governed by scra. it was also argued by him that units, securities or shares are different items as ..... section 115ad which define the word 'security' according to which it would carry the same meaning as given in clause (h) of section 2 of securities control (regulation) act, 1956 (in short scra). then, she referred to clause (h) of section 2 of srca according to which 'securities' would include (i) stocks and shares, .....

Cea Consultants (P) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)87TTJ(Delhi)1146

..... 3-1995. therefore, the assessing officer has rightly come to the conclusion that the assessee is not entitled for examination under section 47(iv) of the lt. act 1561. the decision of the assessing officer is upheld." learned authorised representative of the assessee reiterated the submissions made at length before both the tax authorities. it ..... was contended on behalf of the assessee that none of the reasons given by the assessing officer justified the denial of claim under section 47(iv) of the act.similarly, the assessing officer's action in invoking the provisions of section 145(2) was also assailed. it was further contended that there may be certain irregularities ..... the assessee which has been brought out in paragraph 7 of the assessment order. it was further stated on behalf of the assessee referring to the sale of goods act, 1930 that a sale contemplates.section 2(2) defines 'delivery' to mean 'voluntary transfer of possession, from one person to another'. thus, in this background, .....

Shri M.S. Aggarwal Vs. D.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... search & seizure under section 132 is illegal, void ab initio and was without compliance of the various provisions stipulated under section 132 of the income tax act, 1961. 4. that the principles of natural justice were violated while conducting the search, recording the statement under section 131 in post search investigation and while ..... passing the order under section 158bc of the income tax act, 1961. 5. that the post search statement recorded by the deputy director of income tax (investigation) being illegal void ab initio, the addition made ..... the proposition is well established that admission made by an assessee during search operations constitute substantive evidence in view of sections 17 and 21 of the evidence act. however, such admission cannot be considered as conclusive evidence against the assessee. it has been held by the apex court in pullangode rubber produce co .....

Tedco Investment and Financial Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... .accordingly, we are of the view that the tax authorities were also not correct in coming to the conclusion that the income-tax act is a special act and rbi act is a general act as the position for the purposes of the issue at hand is vice versa. it may also be emphasized at this juncture that ..... took into consideration that proviso to subsection (2) states that any non-banking financial company in existence on the commencement of the reserve bank of india (amendment) act, 1997 shall make an application for registration to the bank before the expiry of six months from such commencement and notwithstanding anything contained in sub-section (1) may ..... various particulars were given to the assessee thereupon. notice was issued in order to grant opportunity to the assessee before making an assessment under section 144 of the act in response to which, the following submissions were made on behalf of the assessee : "the company being a non-banking financial company, is bound by the directions .....

New Holland Tractors (India) (P) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)83TTJ(Delhi)628

..... should be considered afresh by the authorities before imposing penalty and thus even after the addition of the explanation to section 271(1)(c) of the it act, 1961, conscious concealment is necessary. the explanation provides only a rule of evidence raising a rebuttable presumption in such circumstances. no substantive right is ..... of the disengagement agreement, we are unable to agree with the submissions of the learned authorised representative that the various possibilities contemplated in the contract act for rescission, breach on account-of non-performance or impossibility of performance can arise in the eventuality where either the assessee is not capable of ..... of person who has received advantage under void agreement or contract that becomes void section 70 dealing with obligation of person enjoying benefit of non-gratuitous act and section 75 dealing with partly rightfully rescinding contract, entitled to compensation, special attention was invited to pp. 6 to 17 of the synopsis. .....

The Triveni Engg. Works Ltd. Vs. Dy. Commissioner of Income Tax,

Court : Income Tax Appellate Tribunal ITAT Delhi

..... that provisions of section 43b(d) of the act are not attracted since the interest is payable to the govt. of india. which operates and controls sugar development fund and not to any financial institution.19. ld ..... profits or gains are computed under the head profits and gains of business and profession. having regard to this definition of paid in section 43(2) of the act, deduction has to be allowed in respect of interest accrued even though not due whether the mercantile basis of accounting is followed by the assessee. he further contended ..... disallowed the interest claimed by the assesee.18. now, the assessee has preferred an appeal before the tribunal with the submission that section 36(1)(iii) of the act allows deduction for interest paid in respect of capital borrowed for the purpose of business or profession and as per section 43(2), the word 'paid' means the .....

Joint Commissioner of Income Tax Vs. Signature

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)85TTJ(Delhi)117

..... gone through the entire material on record and the rival submissions. in the case of the assessee the first return was filed after survey conducted under section 133a of the act and in the computation of taxable income the amount of rs. 22 lacs offered on 28th nov., 1994, was duly indicated under the head "profits and gains of ..... representative of the appellant that the concealment of income can occur only in the return of income filed by the assessee. the basis of charging the assessee with the act of concealment or that matter, with furnishing of inaccurate particulars of income was the return. the return filed in the instant case was not even a revised return. ..... the ao made an addition of rs. 22 lacs on account of income surrendered on 28th nov., 1994. he also initiated penalty proceedings under section 271(1)(c) of the act.5. during penalty proceedings a show-cause notice was issued. in reply dt. 20th july, 1998, the assessee submitted that the penalty was not imposable. however, the ao .....