Judgment Search Results Home > Cases Phrase: the madras inams act 1869 Court: income tax appellate tribunal itat delhi Page 4 of about 58 results (0.169 seconds)

Apparel Export Promotion Council Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1996)57ITD609(Delhi)

..... be added in the income of the assessee under section 251(2) of the income-tax act.after considering objections of the assessee, above amount was added.while treating entrance/admission fees as taxable receipt, the learned cit(a) looked into memorandum and article of association of the council and found that every member has to pay admission fees and annual subscription as prescribed by the executive committee of the council from time ..... activity is carried on, on business principles, it would usually result in profit, but, as pointed out by this court in surat act silk cloth manufacturers association's case (1980) 120 itr 1 (sc), it is not possible to carry on a charitable activity in such a way that the expenditure balances the income and there is no resultant profit, for, to achieve this, would not only be difficult to practical realisation but would reflect unsound ..... by the assessee for the assessment year 1990-91 is directed against order of cit(a) rejecting the case of the assessee for exemption under section 11 of the income-tax act and directing the assessing officer to bring to tax the following receipts ..... , does when it states that it shall be the general principle of a road transport corporation that in carrying on its undertakings it shall act on business principles is to emphasise the objects set out in section 3 for which a road transport corporation is established and to prescribe the manner in which the general duty of the corporation set out in section 18 is to be .....

Assistant Commissioner of Vs. Soni Photo Films (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1998)67ITD81(Delhi)

..... spelt out from the headnote of the decision which is as follows : "the tribunal disposing of an appeal under the it act has got the power to allow the assessee to put forward a new claim, notwithstanding the fact that such a claim was not raised by him before the ito or the aac, provided there is sufficient material on record to allow such a claim, the assessee, for the first time, raised a plea in second appeal before the tribunal that the expenditure incurred by the assessee before it ..... went into commercial production was an admissible deduction for the ..... where, however, the receipt is of the nature of income, the burden of proving that it is taxable, because it falls within an exemption provided by the act, lies upon the assessee.therefore, on the basis of the ratio of this decision, the learned departmental representative argued that the burden to prove that the assessee is a small scale industrial undertaking and for that reason even though it manufactures or produces articles or things mentioned in eleventh schedule is .....

Jagan Nath Sayal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)72ITD1a(Delhi)

..... conditions (including conditions as to the number of members) which the central government, after consultation with the governing body of the stock exchange and having regard to the area served by the stock exchange and its standing and the nature of the securities dealt with by it, may impose for the purpose of carrying out the objects of this act; and (c) that it would be in the interest of the trade and also in the public interest to grant recognition to the stock exchange; it may grant recognition to the stock exchange subject to the conditions imposed upon ..... right under rule 20 of schedule iii of the wealth-tax act.for the same reasons, the learned cwt(a) rejected the contention which was raised before him that the value will have to be determined by the cbdt under rule 20(3) as the same is not saleable in the open market.the membership right will automatically get transferred when the share holding is changed with the approval of the stock exchange and as such, it cannot be said that the right is not saleable in the open market.ultimately, he held that membership .....

Addl. C.i.T., Special Range-5 Vs. Vestas Rrb India Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)275ITR81(Delhi)

..... supra the decision taken by the madras bench of the tribunal could not made the basis for allowing deduction. ..... shiv dayal radhey shyam 259 itr 147 by observing that first proviso to section 43b of the act inserted by the finance act, 1987 is retrospective and if the sales tax had been paid after the due date but during the grace period allowed under the sales tax act that does not attract provisions of section 43b of the act. ..... 122 in this regard is reproduced as under so as to show that the amendment was made to do away the hardship caused by the total disallowance; in terms of the provisions of section 43b of the income tax act, deduction for statutory payments relating to labour, taxes and state and public financial institutions are allowed as deductions, if they are paid during the financial year. ..... on the facts and in the circumstances of the case, the id cit (a) has erred in holding that no disallowance could be made under section 43b in respect of late deposit of employer's contribution to pf and simultaneously no addition could be made under section 2 (24)( x ) in respect of late deposit of employee's contribution to pf although such deposits are required to be made within the due date as per the provisions of section 43b read with section 36 (1) ((va) of the it act, 1961. 2. .....

New Holland Tractors (India) (P) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)83TTJ(Delhi)628

..... as there is no fraud or gross or willful negligence on the part of the petitioner, the provisions contained in section 271(1)(c) of the act cannot be attracted even if it can be otherwise said that the said explanation applies because of the discrepancy between the income returned by the assessee and the income assessed by the ito.11.15 a perusal of this decision shows that on the facts before it, the hon'ble high court was of the view that the legal contentions raised by the assessee were bona fide. ..... the case of the revenue before the madras high court was that the dis-recognition of part and partial burden contemplated by section 171a was only for the limited purpose of levy and collection of income-tax and that the said section was enacted as a measure to prevent the tax evasion and must, therefore, be upheld considering the decision of the supreme court in the case of mcdowell (supra). ..... on analysis of the applicability of the said sections to the facts of the case, it is seen that the possibility of breach on account of non-performance of any condition in contract does not arise as the contract came into effect only when all the requirements enumerated therein were complete as far as the assessee was concerned.8.5 it may also be relevant to note that the bona fide belief entertained by the assessee was sought to be supported by the decision of the supreme court in the case of madras industrial investment corporation ltd. .....

Eastern Bulk Services Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1983)5ITD471(Delhi)

..... relevant for our purposes which reads: (c) an order against the assessee, where the assessee denies his liability to be assessed under this act or any order of assessment under sub-section (3) of section 143 or section 144, where the assessee objects to the amount of income assessed, or to the amount of tax determined, or to the amount of loss computed, or to the status under which he is assessed; the first and foremost requirement is that an assessee should be aggrieved by any order of the ito which is enumerated under sub-section (1) of section ..... (supra), reference application was rejected by the tribunal, the petition under section 256(2) of the act was dismissed by the high court and a petition for special leave to appeal against the judgment of the bombay high court was rejected by the hon'ble supreme court. ..... in this year, as well as in the previous year, relevant to the assessment year 1975-76, the assessee claimed weighted deduction under section 35b of the lncome-tax act, 1961 ('the act'). ..... in the circumstances, he tried to justify the action of the ito in resorting to the provisions of section 145(1) of the act in this case. ..... 'to advertise', according to the ordinary dictionary meaning, means to inform, give notice to, to give notice of, to give public information of announcement or commentation of (see chambers twentieth century dictionary) and word advertisement' is the noun form of the verb 'advertise' meaning the act of advertising. .....

Rolls Royce India Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1988)25ITD136(Delhi)

..... incurred by rri in india though on behalf of rr and though reimbursed by rr in full yet it constituted the expenditure of the assessee-company in india for the purpose of earning income and when that was the expenditure of the assessee- company in india, the allowance of expenditure to compute the income for the purpose of the income-tax act should be as per the provisions of the income-tax act and if the income-tax act had placed any prohibitions or restrictions on the allowance of that expenditure, those prohibitions or restrictions should be given full effect to and only ..... there is, therefore, no case to interfere with the orders of the authorities below on this point.14.1 whether or not the amounts received by the assessee from rr in terms of clause 5 of the agreement (by virtue of which alone 100 + 5 per cent of the actual operating costs of the assessee are paid to it by rr) constitute trading receipts in the assessee's hands is strictly not germane to deciding the issue as to whether or not the "actual operating costs" are "of the assessee" and whether to them the various provisions of the income-tax act mentioned by the assessee in ground nos. .....

inspecting Assistant Vs. Narang Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1989)29ITD522(Delhi)

..... distinguishable mainly because in that case, (i) a provision was made in the books of account; which is probably on the basis of the demand raised ; (iii) duty was sought to be levied under the amended provisions of the central excise act.in the case before us apart from the facts being different the learned senior departmental representative did touch upon the crux of the matter by stating that excise department could not raise the demand because of the decision of the allahabad high court and that is why no demand was raised. ..... 5,19,443 disallowed by the assessing officer.2.3 at the time of hearing before us the representative of the revenue took a strong exception to the manner in which the commissioner (appeals) ignored the basis adopted by the assessing officer, it was contended that when the assessing officer had given various data on the basis of which the deficiencies were worked out separately in respect of two categories of the bottles, the cit (appeals) should not have proceeded on the basis of combined figure. ..... this decision was upheld by the madras high court holding that such credit was highly illusory. ..... the facts under consideration before us are different, apart from the fact that now supreme court decision is available subsequent to the madras high court decision which was referred to earlier in the case of state bank of travancore (supra). .....

Sir Sobha Singh Public Charitable Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... pointed out by the learned counsel that the high court had remanded the matter back to the tribunal allowing liberty to the assessee to adduce fresh evidence whether in the form of any resolution or otherwise showing the specific purpose for which the trust required the accumulation of the income and if such evidence existed and it was placed before the tribunal then the tribunal would consider whether the assessee was entitled to accumulate its funds vis-a-vis section 11 (2) of the income-tax act, 1961.19. ..... are as many as 19 objects listed on pages 6 and 7 of the aforesaid trust deed.as per the provisions of section 11(2) of the act, the assessee is allowed to accumulate 75% of the income, subject to certain conditions.it has to give a notice in writing to the officer in the prescribed manner specifying the purpose for which the income is being accumulated or set apart and the period for which the income is to be accumulated or set apart, not exceeding however 10 ..... justified in making up its mind during the said long period and deciding at whatever stage it was feasible or practicable to work out the modalities vis-a-vis the type of institution which it wanted to set up and the nature of charitable activities which it wanted to engage itself in. it has been noted by both the learned members of the division bench and on which there is no difference that the concession was provided by the act: "perhaps to meet the contingency where the fulfilment of a project requires heavy .....

Acit, Inv. Vs. Nagesh Knitwears Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... in this appeal filed by the revenue the challenge is to the order of the cit(a) dated 3rd january, 1998 on the ground that the cit(a) has erred in holding that the bank interest and the claim received by the assessee should have been included under the head "profit and gains of business of profession" while calculating deduction u/s 80-hhc of the it act.2. ..... we have examined decisions and rival contentions of the parties and the legal precedents relied upon and are of the view that the ratio of all the aforesaid judgements leaves no room to doubt that the interest received on the fdr and interest on loan taken from the bank does not reduce income by way of interest on the fd and cannot be treated as the business income of the assessee. ..... referring to another decision of the madras high court in a case reported in 257 itr 60 in cit v. ..... dr drawing strength from the said judgement drew our attention to the following portion of the judgement of the apex court :- "that the interest that the assessee received from the bank on the fixed deposit was income in his hands and it could stand diminished only if there was a provision in law permitting such diminition. ..... (madras) and 233 itr 497 (mad) pressed into the services by the revenue in support of the proposition that netting of interest is not permissible in the nature of the business carried on by the assessee, namely, export business. ..... madras motors/m.m. .....