Judgment Search Results Home > Cases Phrase: sugar development fund act 1982 amending act 1 sugar development fund amendment act 2002 Court: income tax appellate tribunal itat delhi Page 1 of about 61 results (0.150 seconds)

income-tax Officer Vs. Anjaneya Cold Storage Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)50ITD51(Delhi)

..... submissions of the assessee that for all intent and purposes the word "manufacture" should include process as given in the definition clause of sections 10a and 10b of the act.all these provisions were incorporated to serve the same purpose and there is nothing in the context of sections 10a and 10b suggests some other meaning of term "manufacture". ..... (supra), the calcutta high court made the following observations: when the section as a whole is read, the amendments by way of provisos and explanations are considered, when both textual and contextual interpretations are taken into account and a harmonious construction is made, it would be evident that the ..... itr 827 wherein process of marine products and beef was held to be manufacture and production of articles for purposes of section 80hhc of the act.shri aggarwal also relied upon earlier decision of the kerala high court in the case of marwell sea foods (supra). ..... that export house in this case issued necessary certificate referred to in clause (b) of sub-section (4a) of the act and all other conditions of the section (except of being manufacturer) are admittedly satisfied by the assessee in both ..... distinctions: (1) that purpose of section 10a was to encourage development of specific location like santacruz, kandla etc. ..... argued that the amendment has been made in the explanation clause of the section and the term "supporting manufacturer" appearing in the main provisions of the act has not been amended. ..... on adding sugar to preserve it. .....

Acit and Another Vs. M/S. True Zone Buildwell Pvt. Ltd. and Another

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the ar has submitted that the assessee has carried out the business of real estate developers by developing land and then plotting it. ..... therefore, in the case of real estate developers also, the income is to be offered on a year to ..... therefore, in the case of real estate developers also, the income is to be offered on a year to ..... again, ar has brought the attention that even the income tax act, 1961 has not made it mandatory to follow as section 145 and 145a of the act, which is inscribed as under :- "section 145:- (1) income chargeable under the head "profits and gains of business or profession" or "income from other sources", subject to the provisions of sub-section (2), be computed in accordance with either cash or ..... has also pleaded that assessing officer has failed to appreciate that assessee is not engaged in the business of building or structures but engaged in the business of development of land and selling of plots of land. ..... the land has been developed in the earlier year and the plots are being sold on payment basis which is varying from 45 days to ..... ao has failed to appreciate that assessee is not engaged in the business of construction of building or structures but engaged in the business of development of land/selling of plots of land. ..... the appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of hearing of the ..... respondent craves leave for addition, modification, alteration, amendment of any of the cross objection. .....

ito Vs. Smt. Saraswati Ramanathan

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)300ITR410(Delhi)

..... corporations established by the government of india for development of infrastructure in the country and to muster funds for the purpose an incentive to invest in these corporations carrying out infrastructure development activities was given in the form of exemption from capital gains tax if the sale proceeds are invested in the bonds issued by these corporations.section 54ec was inserted with effect from 1-4-2001 by the finance act, 2000. ..... bhaya (2005), 95 itd 313 (copy filed) that for the purpose of section 54 of the act, it is sufficient compliance with the section that the assessee purchased the new flat in the names of himself, his father and mother and that it was not the requirement of the section that ..... while explaining the amendment made by the finance act, 2001 by circular ..... 12-12-2001 (252 itr st.65) the board stated in paragraph 39.2 that "since rural electrification, including electrification of villages and energisation of pump sets in rural areas is a matter of priority for the government" the act was being amended to include the said bonds. ..... i find it difficult to imagine that it would have been the intention of the act to place restrictions on such freedoms given to the citizens of the country or on their right to take such precautions in the interests of a ..... 2000 (see 245 itr st/.21), in para.30.1 thereof it was observed that the object of sections 54ea 54 ec, which were being replaced by section 54ec, was "to give an incentive to the development of infrastructure". .....

M/S. L.G. Electronics India Private Limited Vs. the Asstt. Commissione ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... when we consider both these provisions together, it becomes clear that provision of services defined in an inclusive manner encompassing all the market related services including those specifically covered like market development, research and administration and the further fact that brand name and logos have been specifically considered as marketing intangibles, there remains no doubt about the brand building being a provision of ..... it was submitted that the expression in the nature of has been clarified by way of insertion of explanation to section 92b by the finance act, 2012 with retrospective effect from 1-4-2002, but the case under consideration does not fall in any of the sub-clauses of clause (i) of the explanation to section 92b so as to be called as ..... since suzuki had taken substantial amount of royalty from maruti without contributing anything towards brand development in indian market and maruti had incurred expenditure amounting to rs.4092 crores on advertisement, ..... his submission has been recorded above as per which it was tried to make out that the subsequent amendment by way of insertion of sub-section (2b) cannot cure the defect in the otherwise invalid jurisdiction at the time ..... as the assessee's activity required not only the deployment of its funds but also entrepreneur's efforts including the use of its infrastructure. ..... by lg electronics korea (lge korea) and not by the assessee and hence, any expenditure incurred on brand promotion should be funded by lge korea. .....

R.B. NaraIn Singh Sugar Mills Ltd. Vs. Deputy Commissioner of Income T ...

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)80TTJ(Delhi)402

..... it was stated that the assessee was originally engaged in the business of manufacture and sale of sugar and management of the undertaking was taken over temporarily by the government of india on 2nd feb. ..... , and to boost up the cane development activity in the area of operation of the factory as required for rehabilitation of the factory. ..... if it is found out that the subsidy was revenue in nature then it has to be taxed in accordance with the provisions of the act, and in the converse situation the same cannot be considered for taxation, being capital in nature. ..... all essential expenditure items including those required towards both short and long-term rehabilitation has been of the sugar factory are made, as per letter and spirit of the agreement". ..... it is clearly brought out from the amendment to the agreement as well placed at p. ..... it was held that as the amount from the fund earmarked for the assessee on the basis of rubber produced by it was paid against the expenditure incurred for maintaining the rubber plantations and producing the rubber, the amounts received were revenue receipts and, ..... in the like manner if no deduction is claimed in the books of accounts but the assessee, in fact, is entitled to it in accordance with the provisions of the act, then, in our considered opinion there is no impediment in granting the same. ..... , 1979, under the sugar undertaking (taking over of management) act, 1978. ..... 14/3/86-nsu/sugar-desk-i, dt. .....

Bharatiya Janata Party Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)80ITD89(Delhi)

..... with this ground, however, we would like to observe: (i) the decision rendered by us is with reference to the facts of the canstar scheme and cannot be laying down the law for all the schemes and mutual funds operating in the country; (ii) the numerous decisions cited by both the parties have been duly considered although not individually discussed; and (iii) nothing on record has been adverted to on behalf of the revenue to justify their ..... the learned counsel vehemently relied on the order of the hon'ble president at this stage for the submission that any mutual fund scheme could not override the provisions of the it act as any receipt or income had to be taxed under the relevant head and in case the assessee had erroneously shown something in the return due to whatever reason whether ignorance or otherwise, then the ao and ..... the intent and purpose for enacting section 13a was described in the taxation laws (amendment) bill, 1978 reported in 113 itr (st) 68 as under: "political parties are essential in any democratic ..... political parties in america, england, france as also other advanced and developing nations were carrying on business to fund the parties political programmes. ..... cit (1982) (1980) 4 taxman 58 (did, it has been held that to regard an activity as business, there must be cause of dealings continue or contemplated to be continued with a profit motive and not for support ..... cit (1982) 133 itr 470 (del), which in turn relied on the decision in the case of loka shikshana .....

inspecting Assistant Vs. Mahalakshmi Sugar Mills Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)36ITD514(Delhi)

..... 148 may be issued at any time for the purpose of making an assessment or reassessment or recomputation in consequence of or to give effect to any finding or direction contained in an order passed by any authority in any proceeding under this act by way of appeal, reference or revision (or by a court in any proceeding under any other law).thus, where a notice under section 148 is issued and served at any time for the purpose of making an assessment or reassessment ..... section 150 (1) has to be read along with explanation 2 to section 153(3), which before the amendment, introduced by the direct tax (amendment) act, 1964, w.ei.6-10-1964, stood as follows:- explanation 2:-where by an order under sections 250,254,260,262, 263 or 264, any income is excluded from the total income of the assessee for an ..... decision of the supreme court in hindustan housing & land development trust ltd's case (supra) also supports the view canvassed ..... assessment was reopened by the ito under section 147(a) and that it was only due to a typographical error that it was mentioned in the body of the reassessment order dated 27-3-1982 that the action was being taken under section 147(b)/148. ..... factory for manufacture of sugar at hamira in the erstwhile ..... the assessee in its own case by the decision of the delhi high court in mahalaxmi sugar mills co. ..... on the judgment of the delhi high court in the assessee's own case reported in mahalaxmi sugar mills co. ..... sugar ..... engaged in the business of manufacture and sale of sugar. .....

Hindustan Times Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1983)3ITD525(Delhi)

..... the assessee itself admitted that its activities expanded and, therefore, it was not able to continue its work in the old premises and as such the ratio of the decision in the case of sitalpur sugar (supra) squarely applies to the facts of the case and the assessee cannot get the benefit of deduction of the shifting charges.5. ..... to the conclusion, the revenue relied on the letter dated 12-7-1979 written by the land development officer to the assistant director of inspection, income-tax department. ..... . that the subsequent clarification given by the land development officer further strengthened the case of the assessee that the amount paid was in respect of the land only.on the other hand, the contentions raised on behalf of the assessee are that so far as ..... . that the agreement entered into between land development officer on one hand and the assessee on the other clearly shows that the commercialisation charges were paid for the use of ..... he particularly pointed out that the decision of the supreme court in the case of sitaipur sugar (supra) cannot apply to the facts of this case as, according to him, the assessee had to shift because its lease expired and that the lessor advanced money with the specific understanding ..... also not set up any gratuity fund in respect of its non-journalist employees ..... nagrajan based on section 30 of the act we are also not able to find relevancy in regard to the argument based on the presumption that the assessee would have claimed the rent ..... ito [1982] 1 sot .....

Escorts Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)104ITD427(Delhi)

..... dividend income; that most of the investments on which dividend is earned have been made in earlier years and are old investments except in few cases where investments are made during the year in mutual funds for short durations; that assessee-company is a large organization having common bank accounts where it deposits all receipts and all payments are made from the same; the bank accounts are jumbled ..... had substantial interest in the delhi society as well as chandigarh society and by the allotment of shares a benefit has arisen to a person who has a substantial interest, the cit(a) has made a reference to the provisions of section 2(24)(iv) of the act, which says that "income" would include: the value of any benefit or perquisite, whether convertible into money or not, obtained from a company either by a director or by a person who has a substantial interest in the company, or by a ..... the investments also contain investment made by the assessee in a company called escorts research & development ltd, besides the above, assessee has also made investment in the equity shares of several ..... 1982-83, which receipt/return was in the character of income within the meaning of section 2(24) of the act ..... . sugar ..... the rex lok project envisaged the manufacture of rail fastening system, the actual production started in december, 2002 ..... . (2002) 253 itr 425 (mad) wherein it was held that for admission of additional grounds facts necessary for adjudication of the same should already be available on record ..... 2002-03 .....

Godore Tools (India) (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1988)25ITD193(Delhi)

..... , taxable.7.1 the cit(a) traced the history from july, 1963 when the government of india had constituted a market development fund for financing schemes and projects for the development of foreign market for indian products and commodities. ..... and micro views of the same process and as such, in my opinion, it would be wrong to view the national goal as distinct from the individual units' goal, particularly in the field of export development, especially when means adopted are not coercive, but in the forming of provision of incentives and removal of disadvantages from the path of individual entrepreneurs.the underlying principle is that the benefits of individuals will ..... preparing wrappers for putting the tools for the purpose of exporting them, these would be entitled to weighted deduction, because it was entirely for the purpose of development of export markets that the assessee prepared beautiful and expensive plastic and colourful wrappers, which were more or less of durable nature and not wrappers, as the term is ..... act of 1980 which had been admitted.the assessee's assertion that, if, at a later stage, the hon'ble supreme court upheld the retrospective amendment, the assessment could be modified accordingly came to be accepted by the assessing officer and assessment was made in accordance with the interim order issued by the hon'ble supreme court restraining the department from applying the amended provisions of section 80-j of the ..... export corporation [1982] 133 ..... ..... .....