Judgment Search Results Home > Cases Phrase: tezpur university act 1993 section 24 the finance committee Sorted by: old Court: income tax appellate tribunal itat mumbai Page 1 of about 43 results (0.212 seconds)

Sandvik Asia Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1985)14ITD35(Mum.)

..... learned counsel has referred to several authorities. the indian edition 1976 of managerial economics by joel dean of graduate school of business, columbia university, gives the following : last in first out (lifo) inventory accounting can, in periods of inflation, help approximate contemporary dollar earnings. ..... and legality of the assessment. 3. disallowance of surtax liability and the expenses disallowed under section 40a(5) of the income-tax act, 1961 ('the act').2. the assessee-company manufactures various tungsten carbide products such as tips, dyes, nibs, drill steels, cutters, etc. the ..... lifo method is not acceptable. however, this can be said to be an author's view but there is nothing in the act that lifo method is totally banned. j.batty has observed as under :--------------------------------------------------------------------------------method of pricing brief definition base of likely--------------------------------------------------------------------------------last in .....

Dr. J.N. Mokashi Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1983)3ITD774(Mum.)

..... appeal. the assessee before us is one dr. j.m. mokashi, who was in government service from 1955 to 1968. he is a md of bombay university and a consulting cardiologist. he started independent practice as a physician and consultant in 1965. in 1967, his wife was employed by him as a receptionist-cum- ..... or participating for gain or livelihood in an activity or field of endeavour often engaged in by an amateur. the shorter oxford english dictionary (second edition, p.1993) defines 'profession' to mean 'someone engaged in one of the learned or skilled profession or someone who follows an occupation as his (or her) profession ; ..... that though the word 'business', as generally understood, would include a 'profession', a definite distinction between business as contradistinguished from profession has been maintained throughout the act. alighting upon the maxim that all businesses are not professions though all professions are businesses. shri patil went on to submit that section 64(1)(ii) should .....

income-tax Officer Vs. W.D. Estate (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)45ITD473(Mum.)

..... that shri r.t. sharma is a disgruntled employee. we have to bear in mind that there were proceedings against the assessee under the provisions of section 132 of the act and no incriminating documents suggesting receipt of'on money' payments were seized in the course of the search. that shri r.t. sharma was a disgruntled employee is evident ..... execution of what was called the powai project in partnership. this was on 1-12-1966. on 9-6-1987 a notification under section 4 of the land acquisition act was published in which it was stated that powai land was likely to be needed for public purpose of housing scheme for maharashtra housing. there was a further notification on ..... 6-8-1970 under section 6 of the act that the land was so required. it has to be remembered that in the meantime the land had already become property of the partnership executed on 1-12-1966 .....

Gtc Industries Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)65ITD380(Mum.)

..... witness mentioned in the statement filed before the tribunal in the letter dated 3-8-1992 (pp.74 to 87-a-4) and 14-12-1993, 23-12-1993 and 5-1-1994 addressed to the cit(appeals) pp. 126 to 158, 159 to 161 and pp. 162 to 207 of a-12, ..... the letter to the cit(appeals) dated 3-8-1992 (a-4, pp. 84-87) and the letters of the cit(appeals) dated 14-12-1993, 5-1-1994 (at pp. 126 to 158 and pages 162 to 207 of a-12).in para-61 of the tribunal order (a-1 p ..... 145 per m and a printed price of rs. 1.65 (later revised to rs. 90 and rs. 1.05 w.e.f. 7-8-1993. both brands were sold to the trade as one brand and one price, the lower priced brand entailing premium on it.13. whenever on a ..... dr.bentley was served with an originating process from the university of cambridge. he not only ignored the process but went even to the extent of suggesting that the vice-chancellor acted like a fool. without hearing mr. bentley in his defence the university straightaway deprived him of his degrees. thereupon, dr. bentley .....

Mahindra and Mahindra Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)61ITD129(Mum.)

..... anaconda american brass ltd. [1956] 30 itr 84 (pc); (2) cit v. standard triumph motor co. ltd. [1979] 119 itr 573 (mad.); (3) standard triumph motor co. ltd. v. cit [1993] 201 itr 391/67 taxman 160 (sc); and (4) cit v. british paints india ltd. [1991] 188 itr 44/54 taxman 499 (sc).the learned d.r. also pleaded that ..... a section that would not only meet the most of the demands of the situation but also go to ensure that a particular type of expense if covered by that universal section then, it is not attracted by another pre-defined section. this appears to be the basis of evolving of section 37 of the ..... under the head 'profits and gains from business or profession' and they had used the words like, "notwithstanding anything contained to the contrary in sections 28 to 43a of the act....", thereby specifically indicated that insofar as these sections are concerned the provisions contained in sections 28 to 43a, etc., are inapplicable.considering the above, and the distinctive provisions of .....

Nirmal Udyog Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)65ITD73(Mum.)

..... no relation to the type of the case which is before us. our attention was invited to the following authorities :tribhovandas bhimji zaveri vs. union of india (1993) 204 itr 368 (sc); and the learned departmental representative did not agree with the contention of the assessee that there was no capitalisation of the disclosure. in ..... disclosed income" or "voluntary disclosure scheme" as appearing in this act had universal application to such term appearing at any other place in the it act. in our opinion, the term 'voluntary disclosure scheme' appearing in this act was only relevant for ss. 3 and 14 of this act itself and was not applicable to the disclosures made under s ..... kishorilal f.jhunjhunwala recorded during search, order under s. 132(5) and order of the hon'ble supreme court in tribhovandas bhimji zaveri vs. union of india (1993) 204 itr 369 (sc). relying on the statements, he submitted that kishorilal jhunjhunwala has admitted the concealment whereas from the order under s. 132(5), he .....

Tata Chemicals Limited Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)67ITD56(Mum.)

..... points and in this behalf, viz., the question of prejudice being caused, cited the bombay high court judgment in lakhanpal national ltd. v. union of india (1993) 63 elt 61. he argued that just as complex issues in courts may necessitate engaging counsel, the department was free to engage the services of mr. modi ..... would be that mr. tralshawala's appointment as "authorised representative' is invalid, and the further consequence would be that he cannot validly appoint mr. modi "to act" for him.28. arguments were advanced by both sides on the question whether the requirement that the notification should be gazetted is a mandatory requirement or is merely ..... , where the cleavage between the original and appellate jurisdictions continued to be marked due, as we have seen, to historical reasons, the functions of pleading and acting, which a legal practitioner normally combines in his own person were bifurcated and assigned, following 'the usage and the peculiar constitution of the english bar' (per .....

institute of Banking Personnel Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)67ITD160(Mum.)

..... we may, however, clarify that the assessee cannot be given the benefit of section 10(22) of the i.t. act. this section exempts the income of an university or other educational institution, existing solely for educational purposes and not for purposes of profits. the appellant society cannot be equated to ..... this context he relied upon the decision of the hon'ble patna high court in the case of cit v. tata steel charitable trust [1993] 203 itr 764. it is also pleaded that the assessee cannot be regarded as an educational institution and so it cannot be extended the ..... income and expenditure accounts of the assessee for the respective years :------------------------------------------------------------------------- year ended------------------------------------------------------------------------ 31-3-1990 31-3-1991 31-3-1992 31-3-1993 31-3-1994------------------------------------------------------------------------(1) materialfees 1,85,83,480 2,15,85,479 2,10,27,000 2,40,04,219 3,21,67,715( .....

Harakchand N. JaIn Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... statement under s. 132, no addition could be made. in support, he placed reliance on the decision of the supreme court in the case of shrikrishna vs. kurukshetra university air 1976 sc 376. on the other hand, the learned departmental representative contended that the assessee himself offered the said amount for tax and he has not retracted the ..... find that the ao was justified in making the addition as the assessee failed to discharge the burden of proving the said advance. (a). during the asst. yr. 1993-94, the ao has made the following additions :shobha rajput 1,00,000raju singh 1,00,000rikabchand jain 1,50,000kamla r. dhoka 50,000 the assessee filed the ..... was conducted. the search in that case was conducted during the previous year 1995-96 and, therefore, the asst. yr. 1993-94 was included in one of the 10 previous years as contemplated in s. 158b of the act, and therefore, it was held that the procedure provided for the assessment of block assessment was applicable in the said case. .....

Grasim Industries Ltd Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the aforesaid reason and also because the said question is essentially a question of fact. no single test can be devised as universal and conclusive. the question has to be decided on a consideration of all the relevant facts and circumstances. some facts may ..... into account distinction between primary and secondary evidence and applied test not known under the indian evidence act. from a conclusion that no production was made on 30th/31st march, 1993, he held that sale could not be made and accordingly excise register and other documents produced, ..... chart of original temperature and tampered with temperature :----------------------------------------------------------------------"sr.log book date & time temperature figuresno. page original tampered----------------------------------------------------------------------5. 206 31-3-1993/6.00 587/388 deg. c 887/388 deg. c"---------------------------------------------------------------------- 29.2 ao's conclusion was that sponge iron could not be .....