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 Page 3 of about 47 results (0.097 seconds)

Barkha Investments and Trading Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... arrived at by my learned brother in respect of the merits of the main issue relating to the applicability of section 40a(8) of the income-tax act, 1961 (the act) to the appellant-company (henceforth the " company"). the relevant facts have been set out in the proposed order but i would like to point out ..... emergency period to ensure financial discipline which gave rise to various modifications and amendments in the relevant statutes and rules, including the companies act, 1956, r.b.i. act, 1934, interest-tax act, 1974, fera act, 1973, and the like. the section was introduced to make the deposits costlier since it was made so in the banking sector. ..... section 40a opens with the following language : "(1) the provisions of this section shall have effect notwithstanding anything to the contrary contained in any other provision of this act relating to the computation of income under the head ' profits and gains of business or profession'. " 12. therefore, the section is applicable to persons, i.e. .....

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 .....

Green Carriers and Contractors Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1988)27ITD519(Delhi)

..... would be governed by the aforesaid contract and not under the carriers act, 1865. that is what the arbitrator has also held. therefore, according to us, the liability of the assessee to pay compensation to m/s. green roadways ltd ..... owners. the owners themselves did not put in claims against the assessee-company. so there is, in fact, no claim against the assessee-company under the carriers act, 1865.9. so far as the assessee-company and green roadways ltd. are concerned, they were having their independent contract and, therefore, their relations inter se ..... assessee and that the claim in question was by green roadways ltd. the owners were claiming compensation from green roadways ltd. who were liable under the carriers act, 1865. the liability between the assessee and m/s. green roadways ltd. was by virtue of a contract and such contractual liability would crystallise only when .....

intraven Pharmaceuticals (P.) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1990)34ITD84(Hyd.)

..... reopen those assessments and allow bad debts in the years in which he feels that they became really bad invoking the provisions of section 155(6) of the i.t. act.14. the interest under section 139 and 217 are consequential. they must be reduced proportionately while giving effect to this tribunal's order. hence the second substantial question involved in ..... & co. [1962] 46 itr 144 (sc). in the head note of the decision the following ratio is given:- income-tax is a levy on income. though the income-tax act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or its receipt, yet the substance of the matter ..... the assessee company allowed the date to become time barred, the cit(a) confirmed the disallowance of bad debt of rs. 27,548, 7. one sri j.r.k. sastri acted as the representative of the assessee company and an amount of rs. 34,620 realised by the said representative on behalf of the assessee company was not remitted to the .....

Marudhar Cultivators Pvt. Ltd. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1992)41ITD147(Delhi)

..... business purposes, the allowance of depreciation should also have been withdrawn by the commissioner of income-tax by invoking his powers under section 263 of the income-tax act. this was not attempted. it, therefore, follows that the building was used for business purposes, although the business conducted during the year was on a very ..... of passing the assessment order and that material could not be taken into consideration by the commissioner for invoking his jurisdiction under section 25 of the wealth-tax act. the income-tax assessment order having been passed on january 14, 1987, as against the wealth-tax assessment order made on march 31, 1986, the income ..... . the wealth-tax assessment order, in these circumstances, was considered erroneous and also prejudicial to the interests of the revenue. notice under section 25 of the act was served on the assessee and in reply it is seen to have been submitted that the two companies were having their offices earlier in hotel claridges, new .....

institute of Marketing Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1990)32ITD616(Delhi)

..... held that, (a) salary and remuneration paid to dr. jagjit singh and his relative employees were in excess of the limits prescribed in section 13 of the act; (b) that the commission paid to miss molijit singh and miss erajit singh, daughters of dr.jagjit singh for services rendered to the society were also disallowable ..... the assessee was allowed exemption under section 11 and total income computed at nil. subsequently, the cit, delhi-vi exercising his powers under section 263(1) of the act issued a notice by raising the following issues:- (i) applicability of section 13(l)(c) as regards payment of rs. 1,24,692 as remuneration and other ..... business.3. to understand and adjudicate the issues some history must necessarily be stated and which is, that the assessee is a society registered under the societies registration act, 1960 under registration no. 4237 dated 14-8-1969. the society took over the assets, properties and engagements of the then unregistered institute known as "the institute .....

income-tax Officer Vs. Smt. Sonabai

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1989)31ITD31(Hyd.)

..... the situation amicably following the policy of give and take and arrive at an arrangement. this arrangement cannot be doubted also for the reason that it was immediately acted upon inasmuch as it was registered on the day of its execution, mutation in the municipal records obtained and wealth returned by the parties only in respect of ..... matter of law be implied from a long course of dealings between parties. further the conduct of the various members of the family is relevant to show that their actings, viewed as a whole, suggest the existence of the family arrangement. it was, further, held that at a great distance of time gaps in evidence that would ..... to the arrangement were wholly unquestionable as was also evident from the fact that the document was registered with the sub-registrar on that very day and throughout acted upon. elaborating it was contended that mutation of the municipal records in terms of the settlement was obtained and property taxes paid by the parties in respect of .....

inspecting Assistant Vs. Punjab United Pesticides and

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1989)31ITD535(Chd.)

..... more by way of ratification of the original returns and technical compliance with the provisions of law. this should have been accepted if the assessing authorities were to act in accordance with the intent and substance of sections 140(c), 139(9), 292b and other relevant sections, mentioned supra, for making the assessments. the commissioner ..... such managing director is not able to sign and verify the return or where there is no managing director, by any director thereof. chapter xiv of the act deals with procedure for assessment and section 140 is part thereof. this chapter provides the actual assessment to be made under section 143. section 144 provides for ..... which should have been treated as substituted for the earlier return was bound to be considered for the purpose of assessment. the authorities below, therefore, erred in acting in the manner as they did. they be directed to accept the return and allow to the assessee various claims made thereunder.10. the learned commissioner of .....

Rishi Gagan Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1989)31ITD515(Mum.)

..... is also not of any assistance. in those decisions the tribunal was concerned with the merits of the addition in a regular assessment made under section 143(3) of the act. the gifts in these decisions were held to be genuine and accepted by the tribunal on the facts and circumstances prevailing in those cases. proper enquiries had been conducted by ..... he finalised the assessment.the cit has merely directed him to make fresh enquiries and complete the assessment according to law. this direction, the cit is entitled to give by acting under section 263 when he finds that the order has been passed by the ito without making proper enquiries.the power of the cit under section 263 is very wide ..... the bank account is obtained and kept on the record. copy of the account of central bank of india is obtained and kept on the record.2. the cit acting under section 263 was of the view that proper and full enquiries had not been made by the ito while accepting this gift and therefore, the order passed by him .....