Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2003 section 5 amendment of section 115s Court: income tax appellate tribunal itat vizag Page 1 of about 5 results (0.218 seconds)

S.R.M.T. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2005)97TTJVisakha580

..... evidence and material. there cannot be assurance given in this respect by anybody at any stage. (6) the it act in expln. 5 to section 271(1)(c) [as amended by the taxation laws (amendment and miscellaneous provisions) act, 1986] refers to certain concessions available to assesse's if certain conditions are fulfilled. if in your case ..... the conditions are fulfilled, the concessions stated in the act may be available. you may seek appropriate advice in ..... -company. before 1939, the phrase used was 'expenditure incurred solely for the purpose of earning profit'. the omnibus provision of section 37 as amended by 1939 act allows of 'expenditure incurred wholly and exclusively in connection with such business/profession' as long as no personal/capital element is involved. the scope .....

income-tax Officer Vs. Vegunta Surya Prakasa Rao Sons and

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2004)88ITD322Visakha

..... of business income and remuneration is paid only to a partner. thus the intention of the legislature is sought to be diluted by this extended logic. the amendments are introduced to avoid double taxation but here they resort to such an exercise that neither the firm nor the partners pay the tax or pay only greatly reduced tax. one of the ..... is not a legal entity, it has been treated as an independent unit of assessment under the income-tax act. the assessment of a firm will have to be made strictly in accordance with the provisions of the income-tax act. the law has to be taken as it is. section 40(b) applies to certain payments made by a firm to ..... to assess the income of a person in the manner provided by the act. except where there is a specific provision of the income-tax act which derogates from any other statutory law or personal law, the provision will have to be considered in the light of the relevant branches of law. a contract of partnership has no concern with the obligation of the .....

D.C.i.T. Vs. the Andhra Petrochemicals Ltd.

Court : Income Tax Appellate Tribunal ITAT Vizag

..... circular no. 14 of 2001 and thus unabsorbed depreciation carried forward to the assessment year 2002-2003 has to be considered as per the provisions as amended by the finance act, 2001 in which event the assessee would be entitled to carry forward depreciation of the assessment year 1994-95 to the assessment year 2003-2004.12. ..... that year and the fluctuation in value is to be reckoned at each time the liability is paid off. this being the intention of the act, the clarification by ministry of law is also commensurate with the provisions of determination of real income. otherwise, assessee defaulting in payment of instalments or not making payment at all shall ..... appearing on behalf of the assessee strongly supported the order passed by the first appellate authority. he placed reliance upon the clarification issued by the ministry of law to submit that any intermediary fluctuations in the rate of exchange would be of no relevance for the purpose of determining the actual cost of an asset.the .....

Deputy Commissioner of Income Tax Vs. All Saints Christian Educational

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2007)111TTJVisakha109

..... in view of the decision rendered by special bench of the tribunal in the case of nawal, kishow & sons jewellers v. dy. cit (supra) and also amendment in the act brought with retrospective effect from, it cannot be held that the assessment made for block period without issuing notices under section 142 and section 143(2) of the ..... assessment of undisclosed income of the assessee. the learned cit(a), thus, in the present case, did not take into consideration the correct facts and applied the law halfheartedly only so as to come to the conclusion that the addition was illegally made. quashing of order thus, was uncalled for and unjustified. we, therefore, set ..... infirmity committed by ao in making block assessment. the decision taken by learned cit(a), therefore, being contrary to the provision of law, is hereby set aside.18. furthermore, section 158bb of the act mandates computation of undisclosed income of the block period on the basis of evidence found as a result of search or other documents .....

Smt. Bommana Swarna Rekha Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2005)94TTJVisakha885

..... the basis of the material found during the course of search. our attention was drawn towards the provision of section 158bb and by referring to the amendment being made by the finance act, 2002, it was stated that the income has to be computed only on the basis of evidence found as a result of search or requisition ..... the unexplained expenditure even if it is treated to be revenue expenditure, the assessee is also entitled for deduction, which will nullify the addition. for this proposition of law, our attention was drawn to the orders of the settlement commission in the case of b.aswini kumar, husband of the assessee, wherein the hon'ble settlement commission, ..... the it department took inventory of gold. bommana durga prasada rao on 2nd feb., 1996, held up at cuddapah. he allowed his unmarried daughter and eldest daughter-in-law to wear his jewellery. if that is taken into account, there will not be excess. the letter from bommana durga prasada rao is submitted herewith." the assessee also .....