Judgment Search Results Home > Cases Phrase: the kerala sports act 2000 1 Court: income tax appellate tribunal itat mumbai Page 1 of about 214 results (0.165 seconds)

Shri Nandlal M. Gandhi Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... , other documents, money, bullion, jewellery or other valuable article or thing; (iib) require any person who is found to be in possession or control of any books of account or other documents maintained in the form of electronic record as defined in clause (i) of sub-section (1) of section 2 of the information technology act, 2000 (21 of 2000), to afford the authorised officer the necessary facility to inspect such books of account or other documents; (iii) seize any such books of account, other documents, money, bullion, jewellery or other valuable article or thing found ..... shows that - (i) there can be more than one authorization issued under section 132(1) or 132(1a) of the act and the period of limitation for making assessment shall commence from the end of the month in which last of the authorizations was executed and (ii) the authorizations shall be deemed to have been executed on the conclusion of the search recorded the last panchanama.the deeming provisions of explanation 2 have been brought on the statute book to cover those cases where more than one panchanama are required to be prepared ..... this view is taken by the hon'ble kerala high court in the case of dr. c. ..... departmental representative has also relied upon the decision of hon'ble kerala high court in the case of c.i.t. v. dr. .....

Saipem Uk Limited Vs. Deputy Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108ITD545(Mum.)

..... this decision of the kerala high court, in our view cannot be interpreted to mean that the same income can be assessed simultaneously in the hands of the non-resident and in the hands of the agent. ..... from the above discussion, it may be seen that in the case of chaturbhuj raghavji trust, the relevant amount was assessed in the hands of bai champavahoo directly and the bombay high court held that such income could not be brought to the charge of tax again in the hands of the trustees under section 41(2) of the indian income tax act, 1922 which is in pari materia with section 166 of the income tax act, 1961. ..... it is submitted that even though the notice issued at the indian address could not be delivered, the normal assumption is that the notice addressed at the london address must have been received by the assessee and such assumption is fortified by section 27 of the general clauses act 1897, which has also been referred to by the learned cit(a) at para 6.4 of his order. ..... these expressions "in accordance with" and "subject to the provisions of this act" make it clear that the assessment of the income of a non-resident accrued or arisen in india through an agent, shall be subject to and in accordance with the provisions contained in chapter xv of the income-tax act they are special provisions and, therefore, they should be adhered to while assessing the income earned by a non-resident through an agent, in the hands of the agent. .....

Dy. Commissioner of Income-tax, Vs. Bifora Watch Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)94ITD203(Mum.)

..... the learned members of income-tax appellate tribunal, 'd' bench mumbai on account of difference have referred the following question for consideration under section 255(4) of the income-tax act:- "whether, on the facts and in the circumstances of the case the plea taken by the assessee before the tribunal in regard to investment allowances are admissible under rule 27 of the income-tax (appellate tribunal) rules, 1963 and whether on that basis the adjustment made by the a.o. ..... hence, the matter is being referred to the hon'ble president of the income-tax appellate tribunal with a request that the following question may be referred to a third member or to pass such orders as the president may desire : "whether, on the facts and in the circumstances of the case the plea taken by the assessee before the tribunal in regard to investment. ..... on a careful consideration of the matter, we feel that a.o should not have disallowed the interest under section 143(1)(a) of the act.irrespective of the fact whether interest was converted into term loan or not, a.o was bound to enquire as to whether the interest was payable by the assessee in accordance with the terms and conditions of the agreement governing such loan. ..... above view is fully supported by the decision of the hon'ble kerala high court cited on behalf of the assessee.22. ..... the learned counsel stated that hon'ble kerala high court's view in the case of cit v. .....

Bombay Keraleeya Samaj Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)56ITD26(Mum.)

..... , relief of the poor, education, medical relief, cultural activities, sports, publication of newspapers and magazines or (sic) a literary nature, propagation of the kerala system of ayurveda or any object of general public utility.for giving medical relief and propagation of the "kerala system of ayurveda", the assessee has established five dispensaries at the following addresses : 3. ..... the assessee is getting the medicines from arya vaidya sala, kottakkal, kerala, an institution recognized under the provisions of section 10(23c)(iv) of the act. ..... in our opinion, the case of the assessee falls within the ken of section 10(224) of the act. ..... if an institution makes profit incidentally and such profits are applied for objectives relating to the cause of charity, the benefit of section 10(22a) of the act, cannot be denied. ..... it was vehemently argued that the case of the assessee falls within the ken of section 10(22,4) of the act. ..... profit should not be the motive and the act must be guided by the instincts of piety and benevolence with the desire to do good.14. ..... on identical facts, it was cognized as a charitable organisation earlier.no other reason is given in the impugned order to support the denial of benefit of section 10(22a) of the act. ..... the ingredients which are sine qua non to earn freedom from tax are discernible from the prescription of section 10(22/4) of the act. ..... it is also registered under section 12a of the income-tax act, 1961 (hereinafter referred to as "the act"). .....

income-tax Officer Vs. Chemicon Engg. Consultants (P.)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1987)22ITD223(Mum.)

..... the view therein runs counter to the legislative mandate in the act specifying steps required to be taken for the purpose of giving relief.at page 97, their lordships have observed :- it will thus appear that the kerala high court has regarded section 72 appearing in chapter vi as a provision unconnected with the computation of the total income of an assessee and a provision which comes into operation at a stage subsequent to the computation of the total income arising from business done in accordance with sections 30 to 43a occurring in chapter vi of the act and, therefore, the ..... unabsorbed losses cannot be set off before calculating the deduction under ..... in other words, the correct figure of total income, which is otherwise taxable under other provisions of the act, cannot be arrived at without working out the net result of computation under the head 'profits and gains of business or profession'.the view of the kerala high court in indian transformers ltd. .....

Tips Cassettes and Record Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD641(Mum.)

..... besides these arguments, major emphasises was placed by the learned departmental representative on the order of the cit(a) for asst, yr.1995-96 rejected the claim of the assessee and held that the provisions of section 35a are, applicable to his case on following conclusions : "(i) the expenditure incurred by the appellant was for acquisition of copyrights; (iii) the provisions of section 35a of the it act were brought in the statute to deal with such expenditure (refer to object and purpose of this legislation); (iv) the rule of interpretation discussed in paras 1.4,4. ..... in cochin refineries' case (cited supra), their lordships of kerala high court has held that in order to be covered by section 35a, all the three conditions should be satisfied, viz (i) the expenditure should be capital in nature; (ii) should be incurred on the acquisition of patent rights; and (iii) or copyrights. ..... 12 of his order with following remarks : "there is no dispute about the proposition laid down by the kerala high court in cit v. ..... besides reliance was placed on kerala high court judgment in the case of cit v. .....

Asstt. Cit, Rg. 4(1) Vs. Claridges Investments and

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... in this report the special auditor makes only the observations (1) in the absence of bills or contract notes it cannot be commented whether the transactions are in compliance of the provisions of the securities contract (regulation) act, 1956 and (2).in the absence of the supporting proof in the form of contract notes, proof of prevailing market price on the date of transactions, time of execution of the transactions, proof of having executed the transactions through the stock exchange or proof of having executed the transactions off market it is not possible to comment about the genuineness of the speculation loss incurred. ..... reference was invited to pages 314 to 319 of the paper-book.as regards stele international that party directly furnished to the assessing officer copies of the acknowledgement of returns of income for assessment years 2001-02 & 2004-05 as well as copy of the ledger account for the financial year 2000-01. ..... cse confirmed that it was mandatory from 30-10-2000 to put client code in the system at the time of placing orders but there was no record of any client code pertaining to the assessee in the exchange. ..... 1 crore subsequently from the three brokers, which indicated that the business loss claimed by the assessee was premature and not crystallized during the financial year 2000-01 as claimed by the assessee. ..... the market value was based on the valuation as on 31-3-2000, as 1-4-2000 was saturday and 2-4-2000 was sunday. .....

Datamatics Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)110ITD24(Mum.)

..... now coming to the first ground of objection by the assessee, it is directed against the order of the cit(a) in confirming the disallowance under section 80-o of the it act, 1961, in respect of receipts earned by the assessee from rendering technical services outside india, for which consideration received in convertible foreign exchange, on the ground that as the assessee has claimed deduction under section 80hhf in respect of the same receipts by applying the provisions of sub-section (5) of section 80hhe.9. ..... on the facts and in the circumstances of the case and in law, the cit(a) erred in directing the ao to recompute the interest chargeable under section 234b, without appreciating the facts of the case and without appreciating the provisions of sub-section (3) of section 234b of the it act, 1961, which explicitly provides 'where, as a result of an order of reassessment or recomputation under section 147 or section 153a, the amount on which interest was payable under sub-section (1) is increased, the assessee shall be liable to pay simple interest at the rate of one per cent for ..... (2001) 70 ttj (cal) 407 : (2000) 111 taxman 81 (cal) (mag); and also the decision of the hon'ble kerala high court in the case of cit v. .....

Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)241ITR43(Mum.)

..... the finance act, 1987, in the following words : "since the provisions of the section are intended to provide incentive to earning foreign exchange, the proposed amendment seeks to provide that the deduction will be allowed only if the amount has been brought into india within a period of six months from the end of the relevant previous year or within such extended period as may be allowed by the cit after taking into account the difficulties of the assessee in not getting the amount remitted to india within the ..... person (other than a company), who is resident in india, includes any income by way of royalty, commission, fees or any similar payment received by the assessee from the government of a foreign state or a foreign enterprise in consideration for the use outside india of any patent, invention, model, design, secret formula or process, or similar property right or information concerning industrial, commercial or scientific ..... person other than a company who is resident in india, includes any income by way of royalty, commission, fees or any similar payment received by the assessee from the government of a foreign state or a foreign enterprise in consideration for the use outside india of any patent, invention, model, design, secret formula or process, or similar property right or information concerning industrial, commercial or ..... the decision of the kerala high court in the ..... the other contentions on behalf of the appellant that the decision of the kerala high court in the .....

Micoperi S.P.A. Milano Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD369(Mum.)

..... vasumathi (supra), the kerala high court held that "in computing capital gains, expenditure incurred wholly and exclusively in connection with the transfer of capital asset has to be deducted under section 48 of the it act, 1961. ..... thus the ao has stated that in the absence of audited books of account of the assessee relating to the indian project, the results shown in the return of income cannot be accepted and the income of the assessee has to be determined by adopting a reasonable basis for the determination of profit rate in accordance with the provisions of it act, the learned cit(a), however, observed that the assessee made available the voluminous details in respect of the various expenses but the ao is always empowered to verify the genuineness/quantification of the expenses. ..... development service (supra) relied upon by the learned departmental representative, kerala high court held that "in case of agreement between a resident and non-resident pursuant to which amounts were paid to the non-resident, if the contract provides that the tax liability, if any, in respect of amounts so paid to the non-resident is to be borne by the resident company, the amount of tax payable by the non-resident company has to be added to the income remitted to the non-resident and the tax liability of the non-resident should be determined with .....