Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1992)41ITD327(JP.)
..... incurs any expenditure by way of payment of any sum to an association or institution, which has as its object the undertaking of any programme of rural development, to be used for carrying out any programme of rural development which is approved by the prescribed authority under section 35cca(2), the assessee is to be allowed deduction of the amount of such expenditure incurred during the previous ..... the approval on the ground that sid had violated the conditions subject to which approval had been given on 17-12-1982 by not maintaining proper books of account, not utilising money raised on donation for approved programmes of rural development and merely acting as an agency for supplying certificates under section 35cca(2) of the i.t. ..... after the passing of the assessment order on 29-3-1988 the assessee made an application before the high court on 29-4-1988 for amendment of that writ petition and by means of the orders dated 30-11-1988 and 29-11-1991 the hon'ble high court passed interim order staying ..... lastly it was said that sid was short of funds and was requesting the assessee to donate some funds for that good cause.thereafter the assessee sent 4 (four) account payee ..... there was no other impediment to challenge its validity even in regard to the prospective withdrawal of the approval.in the case of seksaria biswan sugar factory ltd. ..... 321 : 38 taxman 195 (sc) (10) seksaria biswan sugar factory ltd. v. ..... sugar ..... by the supreme court in the case of motilal padampat sugar mills co. ..... sugar .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2003)78TTJ(JP.)330
..... aim and object of the corporation set forth in the memorandum of the corporation made the following observations : "none of the clauses of chapter 4 which refers to the business and funds of the corporation or of chapter 7 which refers to ordinary and special loans confers any power on the assessee to give loans to the various persons to whom it has been ..... their lordships have laid down the following principles : "the following principles are applicable in assessing interest income under the provisions of the it act, 1961 : (i) interest on fixed deposits and other deposits before the commencement of business is an income from other sources; (ii) income from interest on deposits of surplus money during the ..... the categorical statement contained in circular, which contained the explanatory notes given on the provisions relating to direct taxes, it is clear that these amendments are only prospective in nature and it will apply only in relation to the asst. yr. ..... 8th april, 2002, constituted this special bench to consider the following question : "whether, on the facts and circumstances of the case, the earning of interest on its idle and surplus funds temporarily invested by the assessee constitutes business so as to be eligible for deduction under section 80hhc of the it act or such income ..... money-lending business.in support of above, strong reliance has been placed on decision of hon'ble rajasthan high court in the case of rajasthan land development corporation (supra). ..... sugar .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2003)84ITD139(JP.)
..... and that land had been purchased, from the aforesaid society and developed by him; (ii) the said society did not have any involvement or action with the development expenses, yet it gave blank pattas signed by its office-bearers and which were kept by him for use at the time of allotment as also for issuing duplicate in case of mutation of the original; ..... of the facts and in the interest of justice, the jm was right in holding that the matter should be set aside for re-examination afresh by the ao.this is a reference under section 255(4) of the it act, 1961, pursuant to the difference of opinion between the learned members constituting the division bench.2. ..... legally erred in invoking the provisions of section 158bc of the it act, 1961, when no search was carried out at the business premises ..... jaipur, passed under section 158bd/144 of the it act, 1961, for the block period 1st april, 1986, ..... erred in taxing the income of co-operative society when as per it act, 1961, income of the society is exempted from tax." 3. ..... erred in referring the case for special audit under section 142(2a) of act when provision of section 158bc were not applicable. 2. ..... secretary of the society, which has not been rebutted by the assessee, there was a sufficient material with the ao that there was undisclosed income within the meaning of section l58b(b) of the act, so as to give valid jurisdiction to record his satisfaction in initiating proceedings under section 158bd of the act and making the assessment." "3. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2005)92TTJ(JP.)119
..... , the then collector of jodhpur issued notice under section 9a of rajasthan land owners and acquisition of land owners estate act, 1964, and started the proceedings for the acquisition of the land by stating that the said land belongs to the state and any subsequent transaction/transfer were ..... what might have happened in this case can honestly be presumed that, soon after knowing that land is likely to be acquired under the ceiling act sometime in 1980, the: seller might have been advised that the only safest way to save the land from the clutches of the urban land (ceiling & regulations) act, 1976, is to show that the land was already sold to some registered group housing society. ..... ) 225 itr 665 (pat), hon'ble patna high court observed that the proceedings under chapter xx-a of the it act cannot be initiated unless the fair market value exceeded the apparent consideration by more than 15 per cent. ..... being cost for the land, development and other expenditure to be incurred ..... this purpose, he submitted that the rajasthan urban property (restriction of transfer) act, 1973, was in operation where the agreement for sale being for more ..... on 24th april, 2002, it was mentioned that-- "from 1982 and that the amount ..... form a prima facie opinion only, which is subject to the objections filed by interested persons as the final opinion is to be formed by the competent authority under section 269f, after hearing the objections.sutlej chit fund & financiers (p) ltd. v. ..... sutlej chit fund & financiers .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1999)69ITD115(JP.)
..... right is an interest which is recognised and protected by law.6.26 looking to the judicial meaning of the words "grant", "right" and "licence" as described above, the act of the sub-licenser in granting the right and sub-licence to use the process and technical know-how amounts to transfer of the right, interest, title and possession of the process for the production of pta as per the technical know-how developed by the licensor to the assessee company. ..... the addendum was further amended on 3rd february, 1996 ..... as a result it acquired in the course of the years a fund of technical knowledge or "know-how", of which only a comparatively small part was capable of forming the subject-matter of patent ..... london, who has extensive knowledge and experience and has been a pioneer in sugar technology for many years. m/s. ..... ftd) dated 2nd april, 1982 where a double taxation avoidance agreement provides for a particular mode of computation of income, the same should be followed irrespective of the provisions in the income-tax act. ..... 333 dated 2-4-1982, a copy of which is placed on record at page 113 of the paper book wherein the board has laid down as follows ..... 2 1982 edition) is merely a form of sale and despatch, and unless there was sale there was no supply of ..... 2 (1982 edition) - an authority justifying the doing of what otherwise would be ..... 2 (1982 edition) describes the term "licence' as follows : 'in the most natural sense, "licence' is an authority justifying the doing of what otherwise would be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2000)243ITR60(JP.)
..... thus relates not to the use of any process, secret formula or patent for production of any commodity but for creating an asset in the shape of a plant, designed, constructed and operated as per the technical know-how developed by the licensor and basic process engineering documentation provided by the sub-licensor and this payment is required to be made in instalments by the date of completion and start of the plant for production of pta.such payment thus ..... looking to the judicial meaning of the word "grant", "right" and "licence" as described above, the act of the sub-licensor in granting the right and sub-licence to use the process and technical know-how amounts to transfer of the right, interest, title and possession of the process for the production of pta as per the technical know-how developed by the licensor to the assessee-company. ..... the addendum was further amended on 3rd february, 1996. ..... as a result it acquired in the course of the years a fund of technical knowledge or "know-how", of which only a comparatively small part was capable of forming the subject-matter of patent rights. ..... , london, who has extensive knowledge and experience and has been a pioneer in sugar technology for many years. m/s. ..... 2nd april, 1982, where a dtaa provides for a particular mode of computation of income, the same should be followed irrespective of the provisions in the it act. ..... 2nd april, 1982, a copy of which is placed on record at p. ..... 2 1982 edn. ..... 2 (1982 edn. ..... 2 (1982 ed. ..... 2, (1982 edn. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2005)95TTJ(JP.)161
..... authorised representative submitted that insertion of section 35 had not made any difference to the legal situation.section 35d was inserted by the taxation laws (amendment) act, w.e.f.1st april, 1971, to provide for amortization of certain preliminary expenditure specified in sub-section (2) of that section. ..... the learned cit(a) allowed the claim of the assessee-company holding that (i) the provision of section 35d of the act had no application to the impugned expenditure and (ii) the said expenditure was incurred on issue of debentures and the fact that the same were convertible into shares after a period of time and would ..... clause (j) of rule 6dd of the it rules, 1962, provides that no disallowance under section 40a(3) of the it act, 1961, shall be made where the assessee satisfies the ito that the payment could not be made by way of a crossed cheque drawn on a bank or by a crossed draft- (b) because payment in the manner aforesaid was not ..... rajasthan land development corporation (1995) 211 itr 597 ..... through this decision of the hon'ble jurisdictional high court, we find that the assessee had invested the surplus fund with the bank on which interest had been earned. ..... considered the catena of judgments quoted by learned authorised representative and also the decision of hon'ble apex court in the case of setabganj sugar mills ltd. v. ..... (2002) 256 itr 395 (bom)--affirmed decision of tribunal in (2001) 70 ttj (mumbai) 805 : (2000) 72 itd 1 (mumbai) ..... (1982) 138 itr 843 (bom) (x) .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2007)106TTJ(JP.)1109
..... under section 22j the purposes for which the marketing development fund shall be utilized have been explained and clause (v) thereof states as "undertaking education and publicity in relation to matters connected with regulated marketing of agricultural produce ..... submission of learned authorised representative in this regard remained that the assessee was under the bona fide belief that the income in the case of assessee is not taxable under section 10(20) of the act as the board was exempted of the income-tax liability under section 10(20) of the it act prior to amendment vide finance act, 2002.the department also did not issue any notice till asst. yr. ..... cit (supra) came to the notice of applicant that the exemption enjoyed by the applicant under section 10(20), taken away by inserting explanation in section 10(20) by finance act, 2002 can be enjoyed by such assessee by claiming exemption under section 11 on fulfilment of certain conditions like the assessee will have to apply for registration under section 12a and that the market committee ..... required to be filed along with the return of income for the relevant assessment years whereas applicant has not filed the audited accounts with relation to the financial years 2001-02, 2002-03 and 2003-04, even though the surplus of income over expenditure was much higher than the limit of rs. ..... negligence on the part of the assessee and placed reliance on the decision of hon'ble supreme court in the case of motilal padampat sugar mills co. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (2008)299ITR94(JP.)
..... the marketing development fund constituted under section 22-i of the markets act can be utilized by the agricultural marketing development board for the specific purposes mentioned in section 22-j of the markets act, i.e. ..... all expenditures under this clause shall be the first charge on marketing development fund; (iv) payment of travelling and other allowances to the member of the board in the manner prescribed; (v) undertaking education and publicity in relation to matters connected with regulated marketing of agricultural produce in the state; (vii) provision of technical and ..... in article 245(a) to (z) of the constitution of india, there is drastic change with effect from june 1, 1993, leading certain definition about local body, which required amendment in section 10(20) of the income-tax act.the assessee was thus out from the definition of local body with effect from june 1,1993 and the only option left with the assessee was to apply for registration under section 12a ..... of its establishment in the year 1965.the assessee was called on to file the return of income for the first time for the assessment year 2003-04, only after insertion of the explanation to section 10(20) by the finance act, 2002 with effect from april 1, 2003, which the assessee filed in response and assessment was also made, now pending adjudication before the tribunal. ..... dit (exemption) [2005] 93 ttj 155 (delhi); (3) motilal padampat sugar mills co. .....
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