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: 2005 Page 1 of about 17 results (0.090 seconds)

Saw Pipes Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)94TTJ(Delhi)1036

..... explanation on non-deduction of tds on commission payment to non-resident parties which is decisive on allowability thereof in terms of provisions of section 40 of the act. there was nothing unusual about commission payment. we, therefore, do not find that the ao did not make any enquiry on allowability of deduction for commission ..... which prescribes that the above item should not be considered while determining cost for the purpose of valuation of inventories. section 311(3)(c) of the companies act makes it mandatory for every company to follow accounting standards as prescribed by the icai. such a change was not voluntary but was in compliance with a statutory ..... not conducted then the order becomes erroneous and the cit is well within his right to set aside the same invoking his powers under section 263 of the act. in support of his arguments the learned departmental representative has also submitted a paper book raising the contentions supported by precedents as under: --an order passed .....

Punjab National Bank Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)280ITR270(Delhi)

..... was actually received by the appellate company, even then no deduction on this account can be allowed as no such deduction has been provided for in the interest tax act. the argument that interest tax would not form part of interest earned by the appellant company also cannot be accepted because any interest earned by the appellant company ..... and interest accruing before 1st october, 1991, will not be taxed the proposed tax will be allowed as a deduction in computing taxable income under the income tax act." para 97-98 as it is evident from the portion of the finance minister's speech as reproduced above, the intention to levy the interest tax specifically on ..... well as financial institutions thus was to adjust their interest rate charged from the borrowers to take care of the additional liability on account of levy of interest tax act which clearly meant that the interest rate hitherto charged was to be increased suitably to take care of levy of interest tax. in the present case also, the .....

Akal Purkh Ex-servicemen Vs. Ito, Tds Ward 49(1)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)5SOT200(Delhi)

..... with secl.there was no contract between the tipper owner and the assessee-company and it was only secl which was to deduct tax under section 194c of the act." the learned first appellate authority by making following observations : "7. i am not convinced by the arguments of the appellant. it is an admitted position that ..... for carrying out the work of transportation of coal and, therefore the tipper owners were sub-contractors of the appellant in terms of section 194c(2) of the act.9. the prohibition regarding sub-contracting relied upon by the appellant did not operate in regard to the deployment of tipper for transportation belonging to ex-servicemen or ..... other words, whether there was any contractual relationship of a contractor and sub-contractor between the assessee and the payees.the provisions of section 194c(2) of the income tax act, 1961 are as under : "194c(2) - any person (being a contractor and not being an individual or a hindu undivided family) responsible for paying any sum .....

Deputy Commissioner of Income Tax Vs. Royal Jordanians Airlines

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)283ITR28(Delhi)

..... from local courts in all circumstances except those specified in other provisions of the convention. those circumstances include most of those which would be regarded as acts jure gestionis, as well as certain others, such as waiver of immunity, which are generally admitted to permit proceedings against a foreign state." the learned ..... of lords and now "restrictive" doctrine of immunity applied, both to actions in rem and in personam.these common law developments were embodied in the state immunity act, 1978 in england. "commercial transaction" was defined and it extended to "any other transaction or activity (whether of a commercial, industrial, financial, professional or ..... representative argued at considerable length that there is considerable shift in the approach over the course of years and trend now is to draw distinction between the acts of a state in its sovereign capacity (acta jure imperil) and those of a private law or commercial character (acta jure gestionis). the learned .....

Housing and Urban Development Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)102TTJ(Delhi)936

..... state financial institutions besides banks and public financial institutions. the definition of the word 'interest' was also modified.10. in the scheme of the act, section 5 of the act defines the scope of chargeable interest to mean the total amount of interest of a credit institution other than interest on loans and advances to other ..... as well. the learned departmental representative further seeks to draw attention of the bench to the expression used in sub-section (7) of section 2 of the act is 'loans and advances'. the assessee's counsel however, has sought to rely upon the judgments of various courts which have considered the definitions of 'loan' and ..... , contended that in that view of the matter interest earned on deposits and securities bonds would fall outside the scope and ambit of chargeable interest under this act.7. shri dwivedi also states that if the tribunal is of the view that two interpretations are possible, then also the possible interpretation which reads favourable to .....

Deputy Commissioner of Income Tax Vs. Samtel Electron Devices Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)100TTJ(Delhi)706

..... stands established.16. the second alternative contention was to the effect that at any rate the claim of interest, if it is not allowable under section 36(iii) of the act in computing the business income, is allowable under section 57(iii) while computing the income from other sources. this claim has found favour with the tribunal in its order for ..... . we are concerned with the asst. yr. 1991-92 for which the previous year ended on 31st march, 1991. the assessment was originally framed under section 143(3) of the it act, but on appeal it was set aside by the cit(a) with the direction, inter alia, to consider afresh the disallowance of the interest. accordingly, the assessment was reframed on .....

Sardari Lal Oberai Memorial Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)106TTJ(Delhi)468

..... undue benefit of its own latches. hence, registration was deemed to have been granted on the expiry of limitation period prescribed under section 12aa(2) of the act. the analogy is equally applicable to the facts of the present case also. once the period of limitation had expired, the subsequent impugned order refusing registration, stands ..... applied for by the assessee, has been granted. this is the natural and legal consequence of an action on the part of the department not to have acted within the prescribed time frame.otherwise, executives who are supposed to carry out the intentions of the legislature will only be thriving by their own lapses and latches ..... india. (h) to encourage handicraft, music and dance irrespective of caste and creed anywhere in india. the assessee has applied for registration under section 12a of the it act. perusal of the documents placed on file reveals that the assessee's declared aims are to provide medical assistance to the poor in the form of medical aid, .....

Shiv Cable and Wire Industries Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)99TTJ(Delhi)106

..... the rival submissions. by now, it is well-settled legal position that there are three ingredients of a satisfactory explanation within the meaning of section 68 of the act, viz., identity of the creditor; financial capacity of the creditor and genuineness of transaction. therefore, filing of mere confirmation is not sufficient--shankar industries v. cit ..... . there was no force in the contention that kamlesh steel was an existing assessee when that company itself was incorporated and subjected to assessment under the it act for the purpose of lending accommodation entries to those who needed the same. the learned departmental representative relied in this respect on the judgment of the ..... contentions of the assessee as well as the ao. he found that merely because kamlesh steel (p) ltd. was a company incorporated under the companies act, 1956 and had its accounts audited by a firm of chartered accountants, its identity was not established beyond doubt because the company itself was a sham .....

Sanjeevan Medical Centre Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

..... passed an order under section 144.21. in the instant case, the assessment has been framed by the assessing officer under section 143(3)/144 of the income tax act as is apparent from the assessment order. notice under section 143(2) has also been issued against the assessee from time to time and, thereafter the assessment has ..... as such. the assessee has furnished each and every information and document asked/directed by the assessing officer on receipt of notices under section 143(2) of the income tax act. the assessee has not maintained any stock records for medicines, surgical and drugs and other consumables as they were numerous in number.6. thereafter, assailing, the orders of ..... not be worked out in the absence of stock records. he rejected the books of account and taking recourse to provisions of section 145(3) of the income tax act, he estimated the value of stock lying with the appellant under the head 'medicines and consumables' and printing and stationery at rs. 1,75,000 and rs. 25 .....

Bharat Heavy Electricals Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)98TTJ(Delhi)565

..... in running them, thus subsiding the education cost of the children of the employees. it is contended further that section 40a(9) was introduced by the finance act, 1984, with retrospective effect from 1st april, 1980 and that it was introduced to curb the undesirable practice of corporate bodies of making large contributions to so ..... action and dismiss the ground.14. ground no. 8 is directed against the disallowance of rs. 4,76,57,787 by invoking section 40a(9) of the act. the amount represents payment made by the assessee to the central schools (kendriya vidyala), bhel schools and other educational institutions.the assessee contended before the it authorities ..... authorities to apportion a part of the expenditure incurred by the assessee against the dividend income and thereby reducing the deduction available under section 80m of the act and their action in apportioning a part of the expenditure against tax-free interest income from bonds.the expenditure apportioned is rs. 1 lakh and 2 lakhs .....