Judgment Search Results Home > Cases Phrase: the kerala tolls act 1976 Court: income tax appellate tribunal itat chennai Page 1 of about 13 results (0.096 seconds)

Dxn Herbal Manufacturing (India) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)110ITD99(Chennai)

..... the ratio of the decision is primarily in the context of the provision of the kerala sales-tax act which required consumption of the fruit in the process before it could be termed as manufacture. ..... there must be transformation; a new and different article must emerge, 'having a distinctive name, character or use'.the court further held that in processing the raw pineapple into slices by pealing off its kernel, the fruit was not consumed as was the requirement of the kerala act. ..... it was considering the meaning of the term "produce" used in the kerala general sales-tax act, 1963. ..... pio food packers (1980) 46 stc 63 (sc), the supreme court was considering the expression "manufacture" used in the kerala general sales-tax act, 1963. ..... , making milk of different grades by pasteurizing, homogenizing, adding vitamin concentrates, standardizing and bottling, or applying process to the original chicken by converting into a dressed or frozen, does not amount to an act of manufacture or production as it does not bring into existence a new commodity.further, the court said the manufacture or produce an article or thing refers to bringing into existence a movable thing or article and construction of the building or dam cannot be construed as an activity of manufacture for bringing a thing or article into existence. ..... coco fibres (supra) was delivered in the context of kerala general sales act, 1963 and hence the ratio of this case also cannot be applied to the present case. .....

The Jt. Commissioner of Income Vs. India Equipment Leasing Ltd.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)111ITD37(Chennai)

..... cit, wherein it has been held (i) that provisions of chapter iiib of rbi act, 1934, override the provisions of section 145(2) of the act because of non-obstante clause appearing in section 45q; (ii) that the income-tax act, 1961, is a general act, whereas reserve bank of india act is a special act; (iii) that it was not the case of the department that there was excess delegation of power. ..... ld dr further drew our attention to the preamble of reserve bank of india act, 1934 which reads as under: whereas it is a expedient to constitute a reserve bank of india to regulate the issue of the bank notes and keeping of the reserve with a view to securing monitory stability in (india) and generally to operate the currency and credit system of the country to its advantage.thus he submitted that the introducing of reserve bank of india act was never to determine the taxable income of any entity in the country for which a self contained code ..... state of air 1960 ker 58, 60 hon'ble kerala high court observed that when the purposes intended to be served are distinct and different and the two provisions can very well stand together whatever be their validity, there is no disharmony between them, and therefore, no scope for applying the principles of harmonious construction. .....

Frontier Offshore Exploration Vs. the Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Chennai

..... read the last paragraph at page 596 of the report, which is as under: in this view of the matter, the answers given by the high court that (i) the assessee who made the payments to the three nonresidents was under obligation to deduct lax at source under section 195 of the act in respect of the sums paid to them under the contracts entered into: and (ii) the obligation of the respondent-assessee to deduct tax under section 195 is limited only to the appropriate proportion of income chargeable under the act are correct.he submitted that the hon ..... relevant, which are given in the last paragraph of the judgment and are as under: (1) the respondent-assessee, who made the payments to the three non-residents above referred, was under an obligation to deduct tax at under section 195 of the act in respect of the sums paid to them under the contracts entered into (2) the obligation of the respondent-assessee to deduct tax under section 195 is limited only to the appropriate proportion of the income chargeable under the act forming part of the gross sums of money paid to the three non-residents .....

Orchid Chemicals and Vs. the Jt. Commissioner of I.T.,

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)98TTJ(Chennai)32

..... (i) "hundred per cent export-oriented undertaking" means as undertaking which has been approved as a hundred per cent export-oriented undertaking by the board appointed in this behalf by the central government in exercise of the powers conferred by section 14 of the industries (development and regulation) act, 1951 (65 of 1951)', and the rules made under that act; (ii) "relevant assessment years" means the ten consecutive assessment years referred to in sub-section (3); (c) recording of programmes on any disc, tape, perforated media or other information storage device ..... under 'income from other sources' and consequentially it cannot be separated and excluded from the computation of profits of the business for the purpose of section 10b of the act he further argued that there was a direct nexus between the interest income from margin money deposit and the import of raw materials constituting business activity and he relied on the decision of the hon'ble supreme court in the case of sterling foods reported in 237 itr 579 wherein it was held that there must ..... " following the decision of the kerala high court reported in 135 itr 278, it was answered the above question as under: at the outset itself we might state that we answer question no. ..... the hon'ble kerala high court in the case of cit v. .....

Chemplast Sanmar Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2004)83TTJ(Chennai)427

..... was mainly on sch, g to form 1 to the it rules, which has been discussed in the impugned order by the cit(a).6.1 we have heard the rival submissions and considered the facts and the materials on record including the case law cited by the learned counsel for the assessee and the budget speech for 1997-98 of the finance minister, copy of the relevant extract of which has been filed on record by the learned counsel for the assessee.6.2 the simple point at issue awaiting our adjudication is whether the mat credit available for ..... 2002-03 is to be adjusted against the tax payable for the assessment year arrived at by the ao before charging of interest under sections 234b and 234c of the act or the same is to be adjusted against the total tax and interest due arrived at by the ao after charging interest under sections 234b and 234c of the act.6.3 the fact remains that the ao while preparing the intimation under section 143(1) of the act (intimation dt. ..... in this connection the decision of the kerala high court in the case of cit v. m.m. ..... district judge, air 1976 all 328(fb)].6.9 the rule-making authority is given to the end that the provisions of the statute may be better carried out into effect and not with a view to neutralizing or contradicting those provisions [east asiatic co. .....

Assistant Commissioner of Income Vs. First Leasing Company of India

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)115TTJ(Chennai)802

..... identified; (iii) that the written down value as per section 43(1) of the act in support of the machinery/equipment could not be ascertained; (iv) that the market value of the asset without valuer assessment also could not be ascertained; (v) that there was no actual delivery or handing over of possession of the machinery/equipment by the board to the assessee on completion of the sale of the said machinery/equipment; and (vi) that there was also no redelivery or handing over of possession of the machinery/equipment by the assessee to the board; (vii) that the machinery/equipment was ..... found it convenient to enter into such a transaction as a device adopted to avoid payment of tax.2.19 in this case, we find that assessing officer has very elaborately discussed the features of the present case with respect to that of the special bench decision and accordingly noted that the order of the special bench is applicable on the facts of the case.2.20 some important features noted in this regard regarding these lease agreements are as follows which go on to establish that this is not a genuine lease transaction ..... cit-kerala , it was held that machinery could not be held to have been used for the purpose of the business during assessment year even passively.in cit, haryana & chandigarh v. o.p. .....

Parkside Holdings Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2003)86ITD252(Chennai)

..... in that case the hon'ble supreme court has laid down the law to the effect that when the cheque is not dishonoured but is encashed, the payment relates back to the date of the receipt of the cheque and in law the date of payment would be the date of the delivery of the cheque.on the other hand, the learned departmental representative strongly supported the orders of the revenue authorities. ..... parkside holdings limited, coonoor, for the assessment year 1992-93 against the appellate order dated 19-12-1995 of the commissioner (appeals), coimbatore.briefly stated, the facts of the case are that while framing the assessment under section 143(3) of the act the assessing officer found that the assessee had paid the following amounts as donation : sri devi podar. ..... in this connection reliance of the learned counsel for the assessee on section 43(2), section 43b, the finance bill, 1976, the central board of direct taxes circular no. ..... the extract from the finance bill, 1976 (page 16 of the paper book) is also relevant. .....

Southern Petro Chemical Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)93TTJ(Chennai)161

..... we do not wish to dwell upon in detail on these issues because, in any view of the matter, after the decision of the hon'ble supreme court in apollo tyres's case (supra), the ao has no option but to accept the net profit as shown in the p&l a/c and he cannot tinker with the same.therefore, as far as the reasoning of the tribunal's decisions on the basis of sections 205 and 350 is concerned, that stands overruled in the light of the hon'ble supreme court's decision in apollo tyres's case (supra). ..... vi to the companies act, the company will have to provide the depreciation on the total book value of the fixed assets (including the increased amount as a result of revaluation) in the p&l a/c of the relevant period and thereafter the company can transfer an amount equivalent to the additional depreciation from the revaluation reserve. ..... : for the purpose of this section, "book profit" means the net profit as shown in the p&l a/c for the relevant previous year prepared under section (2), as increased by- (a) the amount of income-tax paid or payable, and the provision therefor, or" the income-tax paid or payable and the provision made therefor depresses the profit shown in the p&l a/c and, accordingly, the net profit shown in the p&l a/c is required to be increased by the amount relating to income-tax. ..... kerala electrical lamp works ltd. .....

R. Sureshkumar Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)99TTJ(Chennai)997

..... by issuing notice under section 143(2) of the act, has not taken any cognizance of the revised return but he has taken the information from the revised return to the extent that the assessee is having another residential house from where he has declared the income from house property in the revised return of income and the ao has not acted on the revised return rather the assessment order was passed within the time-limit allowed to the original return.as per the original return, the assessment was to be completed by 31st ..... ramakrishnan was karta of the huf and the partition had taken place vide partnership deed dt.11th march, 1976 among the assessee and other coparceners. ..... llth march, 1976, the above-mentioned schedule e property was not partitioned and the same was treated as the property of bigger huf and partial partition was carried out in the family of the assessee. ..... manoharan who is a party in the partition deed dt.11th march, 1976, has filed a suit before the court of subordinate judge, coimbatore, asking for partition of huf property. ..... 1976-77 could be filed by the assessee under sub-clause (iii) of clause (b) within two years from the end of the assessment year, that is to say, on or before 31st march, 1979. ..... llth march, 1976 is being reproduced from the assessee's paper book at p, 23 as under: this document of family partition entered into on this 11th day of march, 1976 among (1) v. .....

A.R.R. Trust Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)280ITR152(Chennai)

..... dr, where it was held as under :- "the language of section 10(22) of the act is plain and clear and the availability of the exemption should be evaluated each year to find out whether the institution existed during the relevant year solely for educational purposes and not for purpose of profit. ..... ramasami vide trust deed dated 10.3.1975.originally trust was registered under section 12a on 17.6.1976 and it also obtained exemption under section 80-g upto 31.3.1981, after which no exemption under section 80g was sought. ..... he mainly made the following observations :- "...the allegations regarding diversion of funds need to be examined even in the context of section 10(22)/23c) if only to find a out if such diversions were actually there and, if so, whether such diversions could be seen as utilisation of the trust income for other than the purpose of education so as to hold that during the years in question the appellant's main object got vitiated and it did not exist solely and exclusively as on educational institution. ..... dr while supporting the order of the lower authorities pointed out that trust was registered with the cit, tamil nadu-ii under section 12a on 17.6.1976 and even exemption under section 80g was granted upto a.y. .....