Judgment Search Results Home > Cases Phrase: the pondicherry gaming act 1965 Court: income tax appellate tribunal itat delhi Page 3 of about 186 results (0.183 seconds)

Rbf Rig Corpn. Lic (Rbfrc) as Agent Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)297ITR228(Delhi)

..... of a previous year of any person, any income falling within any of the following clauses shall not be included (10cc) in the case of an employee being an individual deriving income in the nature of a perquisite, not provided for by way of monetary payment, within the meaning of clause (2) of section 17, the tax on such income actually paid by his employer, at the option of the employer, on behalf of such employee, notwithstanding anything contained in section 200 of the companies act, 1956 (1 of 1956).he, thereafter, drew our attention to provision of section 17(2) defining ..... union territory of pondicherry 15 it was observed, 'it is trite to say that a decision is binding not because of its conclusions but in regard to its ratio and the principles, laid down therein'. ..... salary or wages; (iv) any sum paid by the employer in respect of any obligation which, but for such payment, would have been payable by the assessee; (1) any person responsible for paying any income chargeable under the head "salaries" shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which the payment is made, on the estimated income of the assessee under this head for that .....

Ramjilal Shivhare Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1982)2ITD244(Delhi)

..... and the income as per revised returns, as brought out above, was covered by the aforesaid disclosure by the assessee under section 14(1) of the aforesaid ordinance and so gave ..... the ito while completing the reassessments for the assessment years 1965-66 to 1971-72, and assessment for the assessment year 1973-74, on 24-2-1976, did not charge interest under sections 139 and 217 of the act, nor did he initiate penalty proceedings under section 271(1)(a) and d)(c) for all the said years, under section 273(6) for the assessment years 1965-66 to 1967-68 and under section 273(c) for the assessment year 1973-74, as he was then of the opinion that the difference between the income originally assessed .....

Sheo Prasad Singhal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1986)16ITD167(Delhi)

..... this pronouncement of law by the delhi high court even though under the land acquisition act settles in my opinion the issue that when an appeal is filed by the government the amount in question becomes unsettled and the right of the assessee becomes contingent and the fact that the amount was withdrawn by the assessee or was allowed to be withdrawn by the assessee was likely to be defeated and, therefore, no right accrues to the assessee insofar as that amount was concerned. ..... the learned accountant member felt that when as a consequence of application filed in the high court challenging the very validity of the appointment of arbitrator and when the high court stayed the operation of the decree, no right to those amounts accrued to the assessee within the meaning of section 5 of the act, so as to say that those amounts were the income of the assessee. ..... the state government, thereafter, filed an appeal in the high court against the order of the learned civil judge made on 10-4-1973, dismissing the application made under sec tion 5 for admitting the objections under section 30 of the indian arbitration act after condonation of delay.however, it appears that such an appeal was not pressed before the hon'ble high court and was dismissed as such.8. ..... in january 1965, the assessee sent a notice under section 80 of the code of civil procedure 1908 read with sections 8 and 20 of the indian arbitration act to the said state of rajasthan, claiming that a sum of rs. .....

Ram Kumar Gupta Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)37ITD469(Delhi)

..... the submission of the learned counsel was that in view of the provisions contained in sub-section (2a) of section 153 of the income-tax act, 1961, the fresh assessment should have been completed before the expiry of two years from the end of the financial year in which the order of the appellate assistant commissioner was received by the commissioner. ..... in relation to the assessment year 1971-72 and subsequent years, a fresh assessment in such cases has to be made within two years from the end of the financial year in which the order under section 146 cancelling the best judgment assessment is passed by the ao or the appellate order of the cit(a) or the tribunal is received by the commissioner or the revisional order is passed by the commissioner.10. ..... there is further no satisfactory explanation for not conducting big money transactions through bank when both the parties had bank accounts and were living and carrying on business far away from each other; (g) the assessee has failed to prove that the alleged lender did, in fact, lend the said amount to him; (i) the alleged lender was operating his admitted nefarious activities from a small cabin taken on leave and licence basis at bombay ; and (j) there ..... it was pointed out that it was a genuine loan which was received by the assessee, on which interest was paid to the creditor and that the loan in question was returned on 19-7-1965. ..... this loan was shown to have been returned on 19-7-1965. .....

Shri Ram Hari Ram Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)48ITD175(Delhi)

..... however, he observed : "in order to be fair to the assessee in the background of the revenue authorities declining to consider the claim of the assessee in the year under appeal on the ground of its being related to the subsequent assessment year, the matter deserves to be set aside to the file of the assessing officer for deciding the issue afresh in accordance with law on the basis of the evidence that the assessee may choose to furnish in order to support the claim of the loss." 11. ..... case, i am not called upon to express my view thereon, nor am i called upon as mentioned in the beginning of this opinion, as to the point of time at which the loss was to be allowed to the assessee as a deduction.although in a way the law on this question is settled that the loss must be allowed on the date when the assessee incurred the loss irrespective of the results of the investigations which might take several years to be completed and any recovery of the articles, the value thereof can always be brought to tax under section 41 of the income-tax act.27. ..... nainital bank ltd, [1965] 55 itr 707, considered the question whether the loss of cash by dacoity could be allowed as a trading loss. ..... nainital bank ltd, [1965] 55 itr 707, to which reference also was made by the learned accountant member. ..... [1965] 55 itr 707, that the loss occurred to the assessee in the year of account itself and that the loss should be allowed to it at cost price.11. .....

Deputy Commissioner of Vs. Kicha Sugar Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the only question which is intended to crop up before the full bench was whether the payment made by the assessee to its employees in the accounting years relevant to the assessment years 1983-84 and 1984-85 was in the nature of bonus governed by the provisions of the payment of bonus act, 1965, and consequently governed by section 36(1)(ii) of the income-tax act or whether it is in the nature of an ex gratia customary bonus, festival bonus or any other type of bonus not governed by the provisions of the payment of bonus act and, therefore, liable for deduction under section 37 of the ..... income-tax act. ..... as.filed by the revenue is the following : " whether, on the facts and in the circumstances of the case, the tribunal was legally justified in holding that the ex gratia bonus payments made by the assessee over and above the bonus payable in accordance with the provisions of the bonus act, 1965, were an allowable deduction .....

Association of State Road Vs. Deputy Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... association (supra] and after considering the order of the tribunal, it was observed by the assessing officer that with effect from 1-4-1989, the amendments in section 2(15), section 10(23c)(iv) and section 11(4a) of the income-tax act were made wherein it was prescribed that where business income if it is incidental to achieving main charitable objects of the society should not be taxed, if society maintains separate books of account for such business. ..... further, we noted that while deciding the appeal for assessment years 1965-66 to 1969-70, the tribunal has held that activity of the assessee was not for the purpose of profit as the profit earned by it was used for the purpose of charitable only. ..... then it was held that the profit so derived could not be held to be from an activity with profit motive and, as such, it did not amount to carrying on an activity for profit.accordingly, the appeals of the assessee were allowed for assessment years 1965-66 to 1969-70 and department also granted exemption under section 11 of the income-tax act.6. ..... for the first time for assessment years 1965-66 to 1969-70, a dispute has arisen on the question whether the appellant is to be granted exemption from tax under provisions of section 11 of the income-tax act. ..... the association is a registered society under the registration of society act and the secretary to the government of india, ministry of transport is ex-officio president of the association. .....

Lloyds Insulations (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)80ITD465(Delhi)

..... v.director of inspection, customs & centra; excise (1985) 153 itr 322 (sc), wherein it has been held that levy of such excise duty under section 80 of finance act, 1965, was different from the levy of excise duty under central excises and salt act, 1944 fin short excise act) and, therefore, assessee was not entitled to tax credit certificate under section 280zd of 1961act with reference to such excise duty. ..... to appreciate the same, it would be useful to quote the provisions of section 80 of finance act, 1965, as under : "80(1) when goods of the description mentioned in this section chargeable with a duty of excise under the central excise act (as amended by this act or any subsequent act of parliament) read with any notification for the time being in force issued by the central government in relation to the duty so chargeable, are assessed to duty, there shall be levied and collected- (a) as respects goods comprised in item nos. ..... on further appeal, the supreme court held that levy of special excise duty was chargeable under section 80 of finance act, 1965, and, therefore, the assessee was not entitled to tax credit certificate inasmuch as section 280zd provided for such certificate only with reference to excise duty chargeable to tax under excise act.the said decision can be applied to the present case only if the levy of wealth-lax is itself chargeable under the finance act, 1983. .....

Sunil Lamba Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)83TTJ(Delhi)174

..... in the cases mentioned earlier, it has been held that merely because the ao has not dealt with this issue or recorded specific findings in the assessment order, it cannot be said that there was no application of mind by the ao to the facts and details before him.similarly, if the ao acts in accordance with the decisions of the high court/tribunal, there can be said to be no error in the order of the ao which may cloth the cit with powers to exercise jurisdiction under section 263 of the act. ..... similarly, if the assessing officer acts in accordance with the decisions of the high court/tribunal, there can be said to be no error in the order of the assessing officer which may cloth the commissioner with powers to exercise jurisdiction under section 263.where two views were possible and the assessing officer has taken one view with which the commissioner does not agree, it cannot be treated as an erroneous order prejudicial to the interest of the revenue. ..... it was argued by the learned counsel that if the order passed by the ao was in accordance with the decisions of the court/tribunal, there can be no error of law in the order of the ao which could clothe the cit with powers to exercise jurisdiction under section 263 of the act. ..... (1965) 57 itr 349 (sc) has held that the cit must act in a judicial manner. .....

Cobra Instalacions Y. Services, Vs. Deputy Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)115TTJ(Delhi)534

..... should sign the return in case all the directors including the managing director, happen to be away from the country or where there is no such director stationed in the country, as in the case of foreign company carrying on business through a branch in india, the business being managed should sign the return in the case of a company in liquidation when the board of directors ceases to have any voice in the management of the affairs of the company by virtue of section 491 of the companies act, 1956, and the liquidator becomes empowered to exercise all the powers of the board of directors ..... , 1965, was certainly a valid return and the proceedings before the 1to, were only on the basis of that return.11. ..... , 1965 could be held to be a invalid return by reason of the fact that it was not accompanied by the p&l a/c so far as the first question set out earlier is concerned, we do not think that the position admits of any doubt. ..... 1965-66 was not accompanied by a statement of p&l a/c but during the course of assessment proceedings the assessee filed a revised return of income disclosing higher figure of income. .....