Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 99 general rule as to evidence Sorted by: old Court: income tax appellate tribunal itat kolkata Page 1 of about 4 results (0.061 seconds)

Deputy Commissioner of Income Tax Vs. Machino Techno Sales (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1997)62ITD225(Kol.)

..... words 'specified date' in second proviso cannot be read as contended by the learned counsel. it was argued by the learned counsel for the assessee that under it act, whenever the legislature wanted to exclude application of provisions of other enactments, it was specifically provided for in those sections such as ss. 179, 230a, etc.and ..... before the 'specified date' and, therefore, it cannot be said that compliance has been made with the requirements of the provisions of s.44ab of the act.5. learned judicial member, dissenting from the order of the learned accountant member, was of the opinion that the delay in obtaining the audit report was supported ..... a "provisional" audit report under s. 44ab on 30th july, 1986, notwithstanding the fact that the accounts were not finalised and the statutory audit under the companies act had not been completed. this shows the bona fide of the assessee. the assessee's conduct cannot, therefore, be considered contumacious or in conscious disregard of the .....

Karam Chand Thapar and Bros. (Coal Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1998)66ITD39Cal

..... ground no. 2 relates to the claim of guest house expenditure.learned departmental representative submitted that in view of the specific provisions of s. 37(4) of the it act, 1961, rates, taxes and repairs of the guest house are not allowable as deduction. first appellate authority decided the issue in favour of the assessee-company by following ..... no further appeal was preferred against the said judgment and thus it has become final. as regards the application of expln. 4a to s. 43(1) of the it act, 1961, learned counsel submitted that a newly inserted expln. would be considered as clarificatory in nature only when it starts with the words "for the removal of doubts ..... also to claim depreciation and for such colourable transaction, judicial sanction should not be given. drawing our attention to expln. 3 to s. 43(1) of the act, learned departmental representative submitted that apart from applying the mcdowell's case (supra), the order of the ao can be supported by the power vested in him vide .....

United Bank of India Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1999)68ITD332(Kol.)

..... well-established system of accounting and it is not necessary for an assessee to merely choose between mercantile system of accounting or cash system of accounting. under the provisions of it act a method of accounting regularly employed by an assessee has to be accepted unless it could be shown that the method of accounting regularly employed by an assessee was not ..... merely by carrying such accrued interest to the interest suspense account without treating it as a bad debt or irrecoverable interest was not in accordance with the provisions of the it act, 1961. the fact that these amounts were taken to the interest suspense account, therefore, did not affect its taxability as such. as against this, the facts of the assessee in .....

Unique InvIn Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2000)74ITD43(Kol.)

..... date if transacted shares with a third party also. this proves the genuineness of the rate as well as the transactions. it is well settled that strict rules of evidence act are not applicable to it proceedings. in the absence of any corroborative evidence, in the case before us, the ao refused to solely rely upon the self-serving documents in ..... shares and the return filed by that company for the asst.yr. 1990-91 was accepted by the same ao, in an order passed under s.143(3) of the act and this proves the genuineness of the transaction and the department cannot play hot and cold i.e., accepting the transaction as genuine in the case of the seller and ..... doubt on the actual delivery of the shares, if not the very genuineness of the transactions itself.13. it is well settled that under the it act, the ao is not bound by the rigours of evidence act. this share transactions appeared to the ao to be sham and, therefore, be called upon the assessee to corroborate the transactions by producing third .....

Coal India Limited Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... these tests. in our considered view, therefore, the assessee's claim regarding exclusion of the aforesaid amount under explanation (ii) to section 115ja(2) of the act is not sustainable in law. we donot also find any other enabling provisions for exclusion of this amount from book profits. once the assessee itself includes an amount ..... , should be satisfied is entirety and when the case fails even on one test, the exclusion clause will have no application.9. section 8 of the income tax act, which deals with the taxability of dividends, provides as follows : (a) any dividend declared by a company or distributed or paid by it ............. shall be deemed ..... dividends are declared, rather than income of the previous year during which these dividends are declared, distributed or paid - as is the scheme of the income tax act.therefore, the dividends reflected in the profit and loss account of the assessee donot constitute income of that previous year but are relatable to that previous year only .....

Coal India Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)88ITD514Cal

..... both these tests.in our considered view, therefore, the assessee's claim regarding exclusion of the aforesaid amount under explanation (if) to section 115ja(2) of the act is not sustainable in law. we do not also find any other enabling provisions for exclusion of this amount from the book profits. once the assessee itself includes ..... the company, taxation of dividends in the hands of shareholders was no longer necessary and corresponding exemption of the same was introduced by inserting section 10(33) of the act, with effect from 1st april, 1998, which provided that 'any income by way of dividends referred to in section 115-o' shall not be included in total ..... dividends are declared, rather than income of the previous year during which these dividends are declared, distributed or paid - as is the scheme of the income-tax act.therefore, the dividends reflected in the profit and loss account of the assessee do not constitute income of that previous year but are relatable to that previous year .....

Edward Keventer Pvt. Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD347(Kol.)

..... believe transaction and dubious means cannot be recognised. the hon'ble gujarat high court in the case of banyan & berry (supra) has observed that if the acts are unambiguous and bona fide, but results in reduction of tax liability or expectation of tax benefit in future does not amount to colourable device, dubious method or ..... -company to five sister companies were immediately transferred by the keventer in its share register in spite of the applicability of section 79 of the i.t.act and existence of a restrictive clause in the loan agreement entered into by the keventer with financial institutions whereby the keventer was restrained by financial institution not ..... setting off brought-forward losses as the assessee-company at that time had no holding or interest whatsoever in the keventer by the reason of its own act of selling previously the entire holding in keventer to five companies. the assessee-company's contention, which is mentioned in assessee's written submission filed before the .....

itc Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)86ITD135(Kol.)

..... a person can hold the land and another person can be owner of the building or superstructure constructed thereon. this is fully recognized under the it act. section 32 of the it act provides for depreciation on buildings, etc. while considering the question whether building includes the land, it was held that from its very nature, ..... any conclusion. surprisingly, at the time of hearing nothing about the adjudication by the enforcement directorate has been said by either party. since, foreign exchange regulation act, 1973 is rib more in force and even its sunset period of two years is over on 31st may, .2002, this matter would have definitely ..... year based on allegations on altogether different aspects contained in show-cause notices issued by the authorities under the provisions of the erstwhile foreign exchange regulation act, 1973.1. the enforcement directorate conducted search and seizure operations in 1996 at the various offices and factories premises of the assessee and the residence .....

R.R. Sen and Brothers Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2005)95TTJ(Kol.)398

..... a finding as to whether foreign currency could be considered to be either goods or merchandise. since the foreign currency has not been defined in the it act, we have to go to the general dictionary meaning and other considerations to find out its real meaning with reference to eligibility of deduction under section ..... assessee had made export earnings in dollars in convertible foreign exchange, the assessee should be considered to be entitled to deduction under section 80hhc of the it act.10. learned departmental representative relied upon the orders of the authorities below. he also submitted that foreign currencies were neither goods or merchandise nor were they ..... should include commodities that are bought and sold. in accordance with the interpretation of statutes, where a word or an expression is not specifically defined in any act, recourse should be taken to the dictionary meaning of the said word. in the instant case, the foreign exchanges which are ready for sale and purchase in .....

C.E.S.C. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)87ITD653Cal

..... by the recipient or consideration which would be income of the recipient chargeable under the head "salaries"." 11. it is evident form the aforementioned provisions of the it act, 1961 that as per the explanation to section 9, the amount paid to mep falls within the ambit of 'fee for technical services' and, accordingly, ..... 1989, wherein this departure from traditional definition was made for the first time, india has entered into several dtaas wherein traditional definition, on the lines of definition in indian it act, 1961, continues to find the place, such as in india australia dtaa, dt. 25th july, 1991, india belgium dtaa, dt.26th april, 1993, india france ..... to providing financing or other credit support to finance the construction and start-up costs expected to be incurred upto project completion. (d) mep will act as representative of the financial institutions and on instructions from the co-ordinator and/or from time to time the other financial institution: its responsibility will .....