Judgment Search Results Home > Cases Phrase: tezpur university act 1993 section 24 the finance committee Sorted by: recent Court: income tax appellate tribunal itat mumbai Page 2 of about 43 results (0.640 seconds)

Gtc Industries Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD86(Mum.)

..... (supra), was also concerned with the retrospective amendment to the provisions of section 143(1a) of the act by the finance act, 1993 with effect from 1-4-1989 which was the date upon which sub-section (1a) itself was introduced in the act. the apex court applied the substituted provision for an assessment year earlier to its actual amendment. in fact ..... by the assessing officer in the following words: no rectification order under section 154 of the income-tax act, 1961 can be passed to disallow the provision for doubtful debts amounting to rs. 10,99,552 for assessment year 1993-94 because there is no apparent mistake which can be rectified and hence section 154 has no application. ..... , and basing on the amendment made to section 36(1), clause (7), which was amended by finance act, 2001? 2. the assessee is a limited company and for the assessment year 1993-94 it had debited its profit and loss account with a sum of rs. 10,99,552 on account of provisions for doubtful debts, loans and advances .....

G.T.C. Industries Ltd. Vs. the Dy. Cit, Spl. Rg. 50

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... ltd. (supra), was also concerned with the retrospective amendment to the provisions of section 143(1a) of the act by the finance act, 1993 w.e.f. 1.4.1989 which was the date upon which sub-section (1a) itself was introduced in the act. the apex court applied the substituted provision for an assessment year earlier to its actual amendment. in fact, ..... the rectification proposed by the ao in the following words: no rectification order under section 154 of the i.t. act, 1961 can be passed to disallow the provision for doubtful debts amounting to rs. 10,99,552/- for ay 1993-94 because there is no apparent mistake which can be rectified and hence section 154 has no application. this issue ..... , and basing on the amendment made to section 36(1), clause -(7), which was amended by finance act, 2001? 2. the assessee is a limited company and for the a.y. 1993-94 it had debited its profit and loss account with a sum of rs. 10,99,552 on account of provisions for doubtful debts, loans and advances in the .....

Dy. Cit Vs. Sarabhai Piramal

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... for each of the five immediately succeeding previous years. (2) where the know-how referred to in sub-section (1) is developed in a laboratory, university or institution referred to in sub-section (2b) of section 32a, one-third of the said lump sum consideration paid in the previous year by the assessee ..... integral part thereof. in these circumstances, the term 'patent' include trademarks and, therefore, the assessee is entitled to deduction under section 35a of the income tax act.30. without prejudice to the above contentions, the learned counsel for the assessee submitted that the expenditure on trademark falls within the definition of plant and, therefore ..... patent or proprietary medicines to which this tariff items apply are those medicines, which have brand name or registered trademark under the trade and merchandise marks act and carry such market symbol or monogram as to establish relation between medicine and producers and manufacturers, i.e., the writing of the monogram on the .....

Arvee International Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)101ITD495(Mum.)

..... underlying philosophy of section 263 is the removal of the prejudice caused to the revenue by the erroneous orders of the assessing officer. in cit v. v.p. agarwal [1993] 68 taxman 236 (all.), the hon'ble allahabad high court has held as under: 14. while making an assessment, the ito has a varied role to play. ..... principles, the learned dr submitted that the learned commissioner was, on the facts of the case, absolutely justified in exercising revisional jurisdiction under section 263 of the income-tax act. he supported the order of the learned commissioner with reference to the decisions in cit v. m.m. khambhaiwala [1992] 198 itr 144 (guj.) and malabar industrial ..... year 2000-01.6. in reply, shri rai, the learned departmental representative supported the order passed by the learned commissioner under section 263 of the income-tax act, 1961. he submitted that the assessing officer had not expressed any view in the assessment order and hence, there was no question of the commissioner taking a .....

Joint Commissioner of Income Tax Vs. Sakura Bank Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)100ITD215(Mum.)

..... accepted the order which is so carried in appeal. the rule preventing enhancement of assessee's tax liability, beyond the liability fixed by the ao, is not universal and without exceptions to the said rule.19. the reason for revenue not taking up this plea earlier is the retrospective amendment in law. there can (sic- ..... present case there is no enhancement of income but there is an enhancement in tax liability wholly because of retrospective insertion of explanation in section 90 of the act, with retrospective effect from 1st april, 1962, which restricts the application of non-discrimination clauses in the tax treaties. this situation is materially different from the ..... the powers (except possibly the powers of enhancement) which are conferred upon the aac by section 31 of the act". this issue came up before the hon'ble supreme court in the case of cit v. assam travel shipping service (1993) 199 itr 1 (sc) and their lordships having taken note of hukumchand mills' case (supra), observed .....

Chohung Bank Vs. Deputy Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)102ITD45(Mum.)

..... would also not include 'corporate bodies' unless they are declared 'nationals' under the law of that state. similar views were expressed by professor dr. klaus vogel, university of munich, in his treatise on 'double taxation convention' third edition (being a commentary to the oced un - us model convention for the dtaa on income and ..... a distinction between a domestic and a non-domestic company. that distinction is on the basis of its definition provided in section 2. the finance act also creates a distinction between the two on the basis of distribution of dividend.where a korean company having a permanent establishment in india declares and ..... does not provide any authority to the central government to enter into agreement for applicability of rates and taxes contrary to what it provided in annual finance act. thus prescription and application of particular rates of taxes on different entities come within the exclusive domain of parliament. dtaa could not, therefore, cover a compromise .....

Metchem Canada Inc. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)100ITD251(Mum.)

..... to be allowed deduction of such head office expenses as can be fairly allocated to the pe. accordingly, as for the asst. yr. 1993-94, the matter is to be restored to the file of the ao for adjudication de novo in the light of the above observations ..... etc. provided by the appellant (the assessee before us)". the assessee is aggrieved of the cit(a)'s order for the asst. yr. 1993-94 and revenue is aggrieved of the cit(a)'s orders for the asst. yrs. 1994-95 and 1996-97. that is how both ..... provisions of section 44c embody a fair method of estimation". the cit(a) thus confirmed the action of the ao for the asst. yr. 1993-94. in the two subsequent years, however, the cit(a) decided the same issue in favour of the assessee by holding that "the ..... not stand curtailed by the restriction placed under section 44c of the act. in our considered view, this direction of the cit(a) is justified and calls for no interference.10. as far as asst. yr. 1993-94 is concerned, the cit(a) has held that the provisions .....

Wall Street Construction Ltd. and Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)101ITD156(Mum.)

..... relied upon by the learned counsel for the assessees namely, viz., mopeds india ltd. (supra) decided by hon'ble andhra pradesh high court and carbomndum universal ltd. (supra) decided by the madras high court are also on the question of valuation of stock. these cases, in our view, cannot be applied ..... interest expenditure reproduced by the ao at p. 11 of his order in the case of wall street construction ltd. (supra) for asst. yr. 1993-94, which is reproduced below:----------------------------------------------------------------------------- 91-92 92-93 93-94 94-95 95-96 96-97-----------------------------------------------------------------------------borivlin. manor nil 43,999 1,28,077 22 ..... added to the value of work-in-progress. shri maheshwari submitted that the phrase 'method of accounting' referred to in section 145 of the it act indicates the method adopted by the assessee while maintaining regular books of account and not the method of computation of total income. the learned cit- .....

Addl. Cit (Asstt.), Special Vs. Hindalco Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)4SOT757(Mum.)

..... submitted that in respect of the subsequent orders passed by the assessing officer pursuant to the direction of the cit(a) given in his order dated 22-3-1993 the department cannot raise the ground on maintainability of the appeal.on maintainability of appeal before cit(a), our view is that where assessee disputes the liability ..... made under section 156. the high court dismissed the writ petitions holding that section 3(2) of the taxation laws (continuation and validation of recovery proceedings) act, 1964, kept alive the earlier demand notices even though payment in full had been made pursuant thereto and treated those earlier notices as having been kept alive ..... exist any demand, interest would become payable.the assessee paid the entire amount of tax pursuant to the notice of demand under section 156 of the income tax act, 1961, forthe assessment year 1984-85. the assessee filed an appeal which was allowed.consequently, the department made refund with interest. against the order in first .....

Ms. Aishwarya Rai Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD166(Mum.)

..... lie in his mouth to correct the error, originally committed by giving a different version of truth. similar were the views in the case of shri krishanan v. kurushestra university 1975 sc-2 gjx 0173 (sc) and krishnalal shivchandra v. cit 88 itr 293 (p & h). in view of the above it is submitted that the initial ..... . he further submitted that the copy of the bank statement was filed on the records on the assessing officer in regular assessment proceedings for the a.y. 1993-94, and when once the bank statement is available on the records of the assessing officer in regular assessment proceedings then the assessing officer does not get jurisdiction ..... apartment, lokhandwala complex, andheri (e), mumbai. various bank lockers of the assessee and her family members were covered in the action under section 132 of income tax act, 1961. during the course of search action, certain valuables were found and seized. various loose papers/documents were also seized as per the annexures to the panchnama from .....