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: 2007 Page 1 of about 159 results (0.148 seconds)

Vestas Rrb India Ltd. Vs. Additional Cit, Range 17

Court : Income Tax Appellate Tribunal ITAT Delhi

..... to be counted on stand alone basis is dealt with as under.12. according to sub-section (5), notwithstanding anything contained in any other provisions of the act, the profits and gains of eligible business to which the provisions of sub-section (1) applies shall, for the purpose of determining the quantum of deduction under ..... hundred per cent of the profits and gains derived from such business for ten consecutive assessment years. (5) notwithstanding anything contained in any other provision of this act, the profits and gains of an eligible business to which theprovisions of sub-section (1) apply shall, for the purposes of determining the quantum of deduction under ..... entirely out of wind power which is entirely due to nature's bounty. that involves no visible or invisible expenditure at all, and in that situation, the act of the assessing officer in loading on to this activity, the expenditure on repair and maintenance and depreciation, was totally fallacious and entirely uncalled for. 12. .....

Additional Commissioner of Vs. National thermal Power

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)111TTJ(Delhi)1

..... seeking from the tribunal is the review of its order which according to well established law, is not permissible under the provisions of section 254(2) of the act. thus the application filed by the department deserves to be dismissed.11. there is one more aspect of the matter that similar submissions were made by the department ..... pointed out that what is being sought by the revenue is review of the order which is not permissible under the provisions of section 254(2) of the act. he referred to the following paras of misc. application to show that the department too in its own view seeking review of the tribunal order: by this misc ..... determine the profits as per commercial accounting practice. according to the department such observations are wrong as profits and gains in the industrial undertaking should be determined as per it act and not as per commercial accounting practice. it is pointed out that the sister units (gas unit) had spent substantial amount to obtain natural gas from which .....

Ram Singh Mathur Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)112TTJ(Delhi)989

..... of the view that the notice served on the assessee on 31st oct., 2002 in its kalkaji address was not validly served as required by section 282(1) of the it act.8. the learned senior departmental representative drew our attention to another notice dt. 25th oct., 2002 which, according to him, was sent by registered post to the assessee and this ..... not only upon the place where the assessee is known to have last resided but also in some conspicuous place in the court house, which in cases arising under the it act should be the it office. in the present case, there is no order of the court i.e. the ito to serve the notice dt.25th oct., 2002 on the ..... appeal filed by the assesses who is an individual relates to the asst. yr. 2001-02 and arises out of the best judgment order passed under section 144 of the it act on 8th march, 2004. the assessee carries on business in electronic detonators in the name and style of m/s ram singh & co.3. ground nos. 2 and 3 are .....

Rolls Royce Plc Vs. Dy. Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113TTJ(Delhi)446

..... arising directly or indirectly through or from any business connection in india, can be taxed in india. the expression 'business connection' was earlier not defined in the act. the finance act, 2003 w.e.f. 1st april, 2004 i.e. as applicable to asstt. year 2004-05 and onwards has inserted two new explanations to clause (i) ..... reach a final conclusion regarding the exact quantum of income that has escaped assessment or even a final conclusion regarding chargeability of such income to tax under the act. a prima facie formation of an opinion would suffice. the fact that contracts were executed in india could reasonably lead to conclusion that income has accrued in ..... the facts and circumstances of the case, the ao was of the view that the appellant was having a business connection in india under section 9 of the act as well as permanent establishment under article 5 of the double taxation avoidance agreement (in short 'dtaa') between india and uk. the business connection and permanent .....

Ntpc Ltd. Employees Provident Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113TTJ(Delhi)285

..... of prosecution proceedings when the artificial veil was lifted to identity the individuals who had to be prosecuted. apart from the above, section 2(31) of the it act defines 'persons'. in the said definition individuals and aops etc. are distinctly and categorically mentioned as separate entities. in the light of the above i am of ..... trust is to be treated as individual because the trust is represented on behalf of the employees and trustees being individual, provision contained under section 194a of the it act will not be attracted, the learned counsel placed reliance on the decisions in the cases of ito v. arihant trust and ors.; ganesh chhababhai vaalabhai patel ..... the authorities is not justified because in various cases categorical findings have been recorded about the status of the trust in relation to section 194a of the it act, we have already reproduced the relevant observations made in these judgments by the hon'ble courts and on going through the same, there appears to be .....

Smt. Naushaba Rana Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)109ITD288(Delhi)

..... maintained, the statement of affairs includes receipt of gift to explain various investments made by the appellants. thus the addition was rightly made under section 68 of the act. even if it is held that section 68 is not applicable, various investments are explained by way of receipt of gifts. thus alternatively provision of section 69 can ..... remained unexplained and unestablished. the genuineness of the gift is, therefore, not accepted and treated as undisclosed income of the assessee under section 68 of the income tax act, 1961. this gives an addition of rs. 5,00,000." 4. the counsel for appellants submitted that identical finding has been given by the assessing officer in ..... made to the income being the amount received by way of gift from various donors and also challenges levy of interest under sections 234a and 234b of the act. the ground relating to reassessment made under section 147 was not pressed before us. hence, the same is not discussed in detail but is dismissed for want .....

ito Vs. R.K. Suri

Court : Income Tax Appellate Tribunal ITAT Delhi

..... amount of advance paid by the company to the assessee. the learned commissioner (appeals) was not correct in taking cognizance of various liabilities under income tax act, sales-tax act and excise duty as such liabilities are not recognized by the company. the company do not acknowledge such amount as liability accruing prior to giving the advance. ..... profit and not assessable profits in the year. thus, while deciding the issue in relation to accumulated profits as occurring in section 2(22)(e) of the act, the provision must be worked out from the standpoint of businessman as to what amount will be taken into account for distributing dividend. while so deciding the previous ..... since the loan is much less than the accumulated profits, the entire amount of loan should be treated as deemed dividend under section 2(22)(e) of the act.4. the learned counsel for assessee, on the other hand, sought to justify the order of learned commissioner (appeals). he submitted that the condition that the .....

Midland International Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)109ITD198(Delhi)

..... let from year to year which can be done either on the basis of fair rent fixed by the local municipal corporation laws or under the delhi rent control act but certainly not by considering any notional income representing the interest on security deposit received by the owner of the property. we are of the opinion that this ..... to be ascertained considering the applicable laws governing the place where the property is situated and must be held to be a standard rent determinable under the provisions of the act applicable for such determination.13. thereafter, in case the assessing officer finds that such ratable value determined by him under sub-clause (a) of sub-section (1) ..... property under section 23(1)(a) so the tax authorities below were not justified in making the impugned addition under clause (b) of section 23 (1) of the act.8. on the other hand, learned dr for the revenue supporting the orders of tax authorities below submitted that the cit (a) has rightly made the impugned addition by .....

Mitsui Marubeni Corporation Vs. Dy. Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)110ITD535(Delhi)

..... regarding reason to believe that income chargeable to tax has escaped assessment has to be satisfied for validly re-opening the assessment proceedings under section 147 of the act.18. a perusal of the reasons recorded shows that the main reason for coming to the conclusion that income of the assessee has escaped assessment is the ..... 1998-99 the assessing officer entertained belief regarding escapement of incomer chargeable to tax and, therefore, was justified in re-opening the assessment under section 147 of the act. the assessee aggrieved by the aforesaid decision of the cit (appeals) has raised the aforesaid common ground of appeal in both the appeals.12. we have heard ..... exceeding rs.1 lakh has escaped tax for assessment year 2000-01.9. on the above facts the validity of assuming jurisdiction under section 147/148 of the act was challenged by the assessee before the cit (appeals). it was submitted that the reasons recorded do not spell out the belief entertained by the assessing officer .....

Surat Singh Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

..... orders under section 154 dated 28-3-2002. the aforesaid orders were reviewed by the cit and were cancelled by invoking the provisions of section 263 of the act vide order dated 23-3-2004. the issue involved was relating to the interest income received by the assessee with regard to the enhanced compensation accruing on acquisition ..... of land by the state government. the cit in his order under section 263 of the act dated 23-3-2004 directed the assessing officer in all the assessment years to tax the interest income received by the assessee on enhanced compensation on accrual basis i ..... a year to year basis. we are, therefore, satisfied that the order of the cit dated 31-3-2005 is impermissible in terms of section 154 of the act and is hereby cancelled. the appeals of the assessee accordingly stand allowed.7. before parting, we may mention that the plea of the learned departmental representative that the intent .....