Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2006)100ITD217(Mum.)
..... has also been made to circular no. 8 of 2002 dated 27-8-2002 issued by the cbdt containing the explanatory notes on finance act, 2002 relating to direct taxes. the finance act, 2002 has amended the law relating to set off and carry forward of losses as they stood for the period from assessment years 1988-89 to 2002-03. the ..... considered is 'what is source of income? long term capital gains as well as short term capital gains and the losses also are considered for taxation under a common head "capital gains". the law states that under a particular head, there could be a number of sources of income out of which assessee may incur loss in respect of ..... below: whether under the facts and circumstances of the case, setting off of short term capital gains against long term capital losses is permissible to compute the amount for taxation under the head 'capital gains'.16. we heard shri r.k. rai, the learned commissioner of income-tax appearing for the revenue. the detailed arguments made by the .....
Tag this Judgment!Court : Mumbai
Reported in : (2009)223CTR(Bom)291; [2009]178TAXMAN397(Bom)
..... from 1.4.2002 and, therefore, the tribunal erred in holding that omission of section 34(1) by taxation laws (amendment and miscellaneous provisions) act, 1986 changed the legal complexion. he further reiterated that explanation 5 to section 32 of the act as inserted by the finance act, 2001 with effect from 1st april, 2002 clearly demonstrates that prior thereto depreciation could not be thrusted on ..... irrespective of whether depreciation allowance was claimed as a deduction under section 32 of the act in arriving at the business income. the tribunal also held that there is no provision in the act for disclaimer of depreciation. omission of section 34(1) by the taxation laws (amendment & miscellaneous provisions) act, 1986 leads to the conclusion that assessee has no option to not to claim depreciation .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(4)BomCR686; [2009]183TAXMAN404(Bom)
..... being a seller shall at the time, during the period beginning on the 1st day of june 2003 and ending on the day immediately preceding the date on which the taxation laws (amendment) act, 2003 comes into force, of debiting of the amount payable by the buyer to the account of the buyer or of receipt of such amount from the said buyer in ..... collect the tax for the relevant period. section 206c would, therefore, not be attracted. to that extent the respondents 1 and 2 have held otherwise clearly discloses error of law apparent on the face of the record.in the light of that petition will have to be allowed and allowed in terms of prayer clause (a)(ii). consequently the petition ..... from collecting the tax it cannot be said that he would be liable under sub-section (6) of section 206c. a duty was cast on the petitioner by operation of law. petitioner could not discharge that duty by virtue of an order of this court. the question, therefore, of calling on him to pay the amount which he was disabled .....
Tag this Judgment!Court : Mumbai
Reported in : (1908)10BOMLR969
..... , it appears to me, a certain amount of discretion should be allowed to the taxing master, to allow counsel's fees, on taxation, if he is of opinion it was not unreasonable to submit it to counsel to be drafted or settled.11. the result of my ..... the taxing master's office that where plaints in short causes are drawn by counsel, the counsel's fees are not ailowed on taxation. all i can say is that to my mind i consider that practice one very much to be deprecated. i think i may ..... several defences, but the only one relied upon was that of limitation; and upon that being done mr. jardine applied for leave to amend the plaint, because he sought to rely upon another document, namely one of the 20th of march 1902, a translation of which has ..... character into a suitof another, and i confess that i cannot imagine any amendment more inconsistent than one which makes a plaint, which is admittedly bad on the face of it, a good one in law.7. now, the principles, which have been laid down in several cases, .....
Tag this Judgment!Court : Mumbai
Reported in : (1914)16BOMLR121
..... any such tax.4. in intended execution of the powers conferred by section 22 of the cantonments act of 1880, poona cantonment taxation regulations were notified in the year 1881, which purported to adapt the taxation provisions of the city of bombay municipal act of 1872 and 1878. according to such adaptation the cantonment magistrate took the place of the ..... service of this notice.' this, therefore, was a case falling under regulation 10 under which the rates might be increased that regulation provides that ' notice of the amendment shall be given to the person interested and the date fixed for the hearing of complaints which shall be made and heard in the manner prescribed in section 8 ..... not calculated the tax on the annual value, but on some strange and novel method of his own. the law does not justify his action at all. it was outside the law, and he has assumed powers which the law has not given to him. the enhancement of the tax was, therefore, ultra vires, and not a legitimate method .....
Tag this Judgment!Court : Mumbai
Reported in : (1915)17BOMLR460
..... with its terms.5. their lordships have felt; that it would not be satisfactory to decide against the defendant on a view which might have been obviated by a mere amendment of the pleadings, and that in a case where the parties had been allowed to go to proof. they have, therefore, felt themselves entitled to consider the evidence led.6 ..... testimony could not be looked at because in their view the promissory note constituted a written contract binding the defendant to pay on demand, and section 92 of the evidence act, 1872, prevented any oral agreement being set up to contradict that written agreement.4. now if the defendant's pleading is to be dealt with in absolute strictness that view .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1925Bom513; (1925)27BOMLR1156; 90Ind.Cas.604
..... proceeding is passed.6. in the absence then of any special agreement, a pleader shall be entitled to receive fees allowed on taxation between himself and his client for his services until the final decree or order in the proceeding is passed. if a pleader ..... sum of rs. 10 would be sufficient remuneration for such services. the order of the subordinate judge then must be amended by allowing the plaintiff with regard to that item of rs. 109, rs. 10 only. the applicant will be entitled now to ..... was entitled to a quantum, meruit. the court in assessing the quantum meruit might be guided by the percentages laid down by law for the regulation of costs between party and party, but was not bound to adopt that guide where circumstances of the case would ..... services until the final decree is passed. there is no support for such a proposition in the bombay pleaders act.3. under section 17 of the act:any party employing an pleader may settle with him by private agreement the terras of his engagement and the .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1927Bom521; (1927)29BOMLR1071
..... given in all the cases, except one case of townend v. sheriff of yorkshire, (1890) 24 q.b.d. 621 which would appear to have been a case of taxation of costs. and here again it may well be that the description of the defendant in the report is not a full one, and that production of the record would ..... must treat it as brought against the sheriff of bombay in 1924 or the sheriff of bombay in 1923 when the wrongful act was committed. accordingly, that plaintiffs ought to be allowed to begin de novo after making the necessary amendments in the plaint, so as to sue personally mr. ishwardas lukhmidas or sir temulji nariman. the answer to that is ..... committed during the term of office of mr. ishwardas predecessor, namely, sir temulji nariman.13. we have been referred to the definition of 'corporation sole' in halsbury's laws of england and elsewhere, but we are satisfied that the learned judge was correct in holding that the sheriff of bombay is not a corporation sole within the ordinary meaning .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1927Bom643; (1927)29BOMLR1511
..... to any probate, letters of administration or certificate in respect of which the fee payable under the law for the time being in force has been paid prior to the commencement of (his act, but which have not issued.26. in the corresponding bombay amending act iii of 1926 we have no such provision. and, indeed, it does not appear from the ..... and he has paid the sum of rs. 28,439 for duty at or prior to his petition being presented and filed on february 24, 1926. if, however, the amending act of 1926 applies, then additional duty to the extent of about rs. 18,861 is payable. a difference having arisen between the testamentary registrar and the attorneys for the ..... calculated at the date of the death, and the courts have jurisdiction to deal with taxation purporting to be levied on his majesty's subjects. cut, in india, under section 106(2) of the government of india act, 1915, which really embodies the previous law to the same effect :-the high courts have not and may not exercise any original .....
Tag this Judgment!Court : Mumbai
Reported in : (1932)34BOMLR321
..... it was, for so many years-it is convenient to note, in passing, the deliberation with which it was made-the special resolution of may superseding with a technical amendment an earlier special resolution adopted with similar unanimity in april, 1910. it is material also to note that under the arrangement the firm was called upon to discharge the ..... obligations in another has always been a source of difficulty. it hampered the company in its competition with local rivals: it exposed it to the risk of double taxation: its accounts were necessarily kept at raichur in the local vernacular, and the compilation of the annual statements at bellary from these materials in a form to meet ..... repaid if called for. at that date the winding-up order had been made, but no liquidator had so far been appointed. in point of law, under section 178(2) of the act the company's assets were then constructively in the custody of the court, and it is quite clear that no disposition of them by the contributories .....
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