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Judgment Search Results Home > Cases Phrase: comparative chart of corresponding sections of 1983 act Court: income tax appellate tribunal itat ahmedabad Page 1 of about 16 results (0.103 seconds)

Feb 03 1997 (TRI)

Deputy Commissioner of Income Tax Vs. Gujarat State Co-operative Bank

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1998)66ITD386(Ahd.)

..... act and s. 71 of the gujarat act provide various modes of investment for all the funds of the co-operative societies, ..... . in this connection he drew our attention of ss. 5 and 6 of the banking regulation act, 1949, reproduced at page 88 of the assessee's paper book. the learned counsel submitted before us a comparative chart of the corresponding sections of the rajasthan co-operative societies act and submitted that from the said chart it will be found that while s. 63 of the rajasthan ..... the co-operative societies, the m.p. act in s. 44(2) contains a restrictive clause as follows : "sec ..... short-term deposits as stated above. according to the learned counsel, the business of banking is not merely acceptance of deposits and lending the same to borrowers. sec.5(b) of the banking regulation act, 1949, defines banking as follows : "banking means accepting for the purpose of lending or investment all deposits of money from the public ......." the learned counsel .....

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May 22 2001 (TRI)

United Phosphorus Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)81ITD553(Ahd.)

..... ,479 as part of total turnover while computing the deduction under section 80hhc of the act. 14.2 in doing so, the cit(a) erred in not appreciating the fact that the term "total turnover" in the context of the said section has to be made comparable with the term "export turnover" and since export turnover does ..... income made in the books of account in the relevant year. the chart showing the income by way of advance licence booked by the appellant company in the books of account for assessment years 1992-93 to 2000-2001 and the corresponding figures of such advance licences benefit actually utilised in these nine years given ..... assessing officer. he placed reliance on the decisions reported in parshotamlal sood & sons v. wto [1985]21 taxman 37 (delhi-trib.),champaklal k. parekh v. ito[1983] 15 ttj (bom.) 327 and the decision of the madras high court in the case of cit v. a.k.subbaraya chetty & sons [1980] 123 itr 592 ..... .cit [1977] 108 itr 358. the learned counsel also relied on the judgments of the gujarat high court in the cases of cit v. sarabhai sons ltd. [1983] 143 itr 473 and balapur vibhag jungle kamdar mandati ltd. v. cit [1982] 135 itr 91. the learned cit-dr, on the other hand, relied upon ..... of a particular deduction. he placed reliance on the judgement of the punjab and haryana high court in the case of mst. shanti v. mst. chhoto air 1983 punj. & har. 321 in which it was held that on account of subsequent events, the appeal filed on behalf of the appellants was liable to be .....

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May 22 2001 (TRI)

United Phosphorus Limited Vs. Joint Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)73TTJ(Ahd.)404

..... part of total turnover while computing the deduction under section 80hhc of the act.14.2. in doing so, the commissioner (appeals) erred in not appreciating the fact that the term "total turnover" in the context of the said section has to be made comparable with the term "export excise duty, 1otal turnover" ..... in the books of accounts in the relevant year. the chart showing the income by way of advance licence booked by the appellant-company in the books of account for assessment years 1992-93 to 2000-2001 and the corresponding figures of such advance licenses benefit actually utilised in these nine ..... reasonableness of selling rates charged from the sister-concerns. he also placed reliance on the following judgments : 1. cit v. udhoji shrikrishnadas (1981) 21 ctr (mp) 171 : (1983) 139 itr 827 (mf); 2. vikshara trading & investment (p) ltd. v. dy. cit (1998) 61 ttj (ahd) 6; 3. holly hock engg. (p) ..... 108 itr 358 (sc). the learned counsel also relied on the judgment of the gujarat high court in the cases of cit v. sarabhai sons ltd. (1983) 33 ctr (guj) 268 : (1983) 143 itr 473 (guj) and balapur vibhag jungle kamdar mandali ltd. v. cit (1981) 22 ctr (guj) 214 : (1982) 135 itr 91 ..... benefits on accrual basis. shri soparkar then relied on the decision of the honble kerala high court in the case of cit v. madhavan nayar (1983) 35 ctr (ker) 81.shri girish dave, the learned commissionerdepartmental representative represented the department. he relied on the elaborate reasons mentioned in the .....

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Jun 05 2007 (TRI)

The Asstt. C.i.T. Vs. National Lamination Industries

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2007)109ITD181(Ahd.)

..... to the state. this is for the reason explained in mangalore chemicals and other decisions, viz., each such exception/exemption increases the tax burden on other members of the community correspondingly. once, of course, the provision is found applicable to him, full effect must be given to it. as observed by a constitution bench of this court in hansraj gordhandas v ..... already been discussed in the above part. relying on photograph of raw material it was submitted that the raw material was different from finished product. attention was drawn to the comparative chart of properties of the material after the process of annealing to show that electrical property of raw material was materially different than the finished product and reliance was placed on ..... cutting adopted by them will not be manufacture. the process of slitting and cutting did not bring into existence a product having distinctive name, character and use. on 1.2.1983 the department wrote to the appellants that their request for permission under rule 56a could not be granted because the process carried on by them was not a process of ..... narrow and restrictive meaning compared to the word "attributable" or "referable to". the industrial undertaking must itself be the source of the profits and gains and it would not be sufficient if a commercial connection is established between the profits and gains earned and the industrial undertaking. from section 80hh(2) of the act it is clear that the act has not given any .....

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Apr 07 1997 (TRI)

Assistant Commissioner of Income Vs. R. Tahilram

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1997)62ITD138(Ahd.)

..... the ao at rs. 10,90,853 was arbitrary and highly excessive. in support of his contention he placed before us the following comparable chart :---------------------------------------------------------------------- asst. yr. asst. yr. asst. yr. asst. yr. 1986-87 1985-86 1984-85 1983-84----------------------------------------------------------------------sale 2,00,00,000 2,31,61,435 3,73,14,290 1,76,09,450purchase - 2,37,04,296 3 ..... ao is supported by another important circumstance that in case books were lost on 10th march, 1989, then assessee-firm should have reported this fact to auditors also in their correspondence but in the letter dt. 27th march, 1989, issued by the assessee-firm in response to letter dt. 20th march, 1989, of shah dalal shroff & associates, the assessee stated ..... 6.5 per cent on such estimated turnover to arrive at the gross profit for the year. he thereafter proceeded to bifurcate various expenses claimed by the assessee in three sections, viz. (iii) miscellaneous expenses. the ao thereafter proceeded to disallow 40 per cent of such expenses after recording his reasons for doing so at length. after adopting the various ..... it was also mentioned therein that the assessee firm had been dissolved w.e.f. 23rd october, 1985. notices under s. 142(1) and under s. 143(2) of the act were issued to the assessee fixing the hearing of assessment proceedings on 20th february, 1989. apparently, along with the said notices a detailed questionnaire was also issued to the assessee .....

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Apr 07 1997 (TRI)

Assistant Commissioner of Income Vs. R. Tahilram.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1997)59TTJ(Ahd.)129

..... in the possession of ao) fell down to rs. 10 lac in the month of june, july and august, 1985.the assessee could have furnished comparative chart of such stiff fall in the earlier years but nothing was done and ao was justified in estimating sales of rs. 2 crores for five months ..... another important circumstance that in case books were lost on 10th march, 1989, then assessee-firm should have reported this fact to auditors also in their correspondence but in the letter dt. 27th march, 1989, issued by the assessee-firm in response to letter dt. 20th march, 1989, of shah dalal shroff ..... such estimated turnover to arrive at the gross profit for the year. he thereafter proceeded to bifurcate various expenses claimed by the assessee in three sections, viz.(iii) miscellaneous expenses. the ao thereafter proceeded to disallow 40 per cent of such expenses after recording his reasons for doing so at length ..... also furnished a detailed working of the percentage wise calculation of each type of expenses along with its relation to the figures of sales for asst. yr. 1983-84, asst. yr. 1984-85 and asst. yr.1985-86. it was further, asserted by assessee that as its expenses were unverifiable and unvouched, ..... the assessee firm had been dissolved w.e.f. 23rd october, 1985. notices under s. 142(1) and under s. 143(2) of the act were issued to the assessee fixing the hearing of assessment proceedings on 20th february, 1989. apparently, along with the said notices a detailed questionnaire was also .....

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Jan 24 2003 (TRI)

N.K. Proteins Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2004)83TTJ(Ahd.)904

..... the seeds of future accounting of a loss of that amount. sica is not meant for rescuing companies/managements which make valuable assets disappear without corresponding value in cash being brought into the company's accounts." 158. the appellate authority for industrial and financial reconstruction has given very significant finding that ..... would, therefore, be no overlapping in the nature of the assessment made under chapter of undisclosed income and the regular assessment made under section 143(3) of the act. if the pending regular assessment proceedings were to be frozen and got substituted by the assessment of the undisclosed income of the block ..... the genuineness of purchases made from these alleged bogus parties and also proves the receipt of material purchased from them.23. the ao had also compared the purchase price of the material purchased from these parties with the prevailing market price at which the purchases were made from other regular dealers ..... cit(a) that so far as payments aggregating to rs. 2,83,41,440 and rs. 11,99,07,754 mentioned in the aforesaid chart are concerned, these payments were made by nkil and nkpl respectively to these suppliers by cheques. hence deposits in the bank accounts of these suppliers ..... (all) 728 : (2001) 75 ytd 183 (as), p.n. sasikumar and ors. v. cit (1988) 170 itr 80 (ker), madanlal agarwal v. cit (1983) 144 itr 745 (all) and cit v. govind kumar (2001) 119 taxman 110 (raj). a31 these cases are not applicable to the facts of the present case .....

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Jan 18 1996 (TRI)

Vijay Proteins Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1996)58ITD428(Ahd.)

..... purchases through such fictitious invoices in the names of these 33 bogus parties appears to have been really received because without receiving such material, the corresponding production and sales would not have been possible. this statement was made at the bar on 15th sept., 1995. thus, the receipt of ..... received and this position has been accepted by the departmental authorities. the assessee further relied upon certain charts to prove that prices of the oil cakes purchased through alleged bogus invoices are comparable with the prices for the purchases accepted as genuine. on these grounds the assessee-company has stated ..... : (i) the rejection of book results is not correct as no defect of any kind was found in the 11 to 11.1 section. (ii) even in the section of.... day-to-day quantitative records were maintained and no defects were found. in fact the production results have been expressly accepted. the ..... of the rationale of the decision which is cited as a precedent. such observations were made by the honourable supreme court in the judgment reported in air 1983 sc 1155. the honourable apex court in the case of cit vs. sun engineering works (p) ltd. (1992) (1992) 198 itr 297 ..... total addition made by the ao on account of alleged bogus purchases be not sustained under s. 68 and/or s. 69, etc., of it act.13. the learned authorised representative of the assessee, apart from the aforesaid arguments which have been mentioned hereinbefore, also made various submissions with reference to .....

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Dec 30 1993 (TRI)

Sangita Trust No. 1 Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1994)50ITD66(Ahd.)

..... the case of cit v. smt. kamalini khataul 1978] 112 itr 652. at pages 661-662, the court has compared the words used in the first proviso to section 41(1) of it act, 1922 and the corresponding provisions of section 164 of it act, 1961. the words used in the old proviso to section 41(1) were "the tax shall be levied upon and recoverable" while under the ..... act of 1961 the words used are "tax shall be charged". after comparing the effect of the different expressions "charged" and "levied ..... these trusts in which copies of the respective trust deeds, copies of statement showing valuation of life interest, remaindermen's interest for the various years under consideration were submitted. these charts showing valuation of life interest and remaindermen's interest and balance surplus value were submitted with a view to provide the basic information to the assessing officer as regards value ..... and came to the conclusion that the ratio of madras high court decision is not correct. he followed the decision of calcutta high court in surendranath gangopadhyaya trust v. cit [1983] 142 itr 149 and the m.p. high court in piarelal sakseria family trust v. cioot [1982] 136 itr 583 and came to the conclusion that provisions of .....

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Feb 19 2003 (TRI)

Assistant Commissioner of Income Vs. Affection Investments Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2003)80TTJ(Ahd.)278

..... court in the case of miss dhun dadabhoy kapadia rendered under the old it act, 1922, will be applicable to the cases adjudicated under the provisions of it act, 1961, because the phraseology used in section 12b of the 1922 act is in pari materia with the language used in corresponding provisions contained in it act, 1961. (c) we also agree with the findings given by the tribunal in ..... assessees consequent to the sale of rights. even after considering all fluctuations in the market, the assessee's investment actually appreciated by almost three times during the previous year as compared to the original cost of acquisition. the ao, therefore, held that the amount of sale proceeds received by the assessee on transfer of right of fcds is liable to tax ..... basis of misinterpretation of the judgment of the hon'ble apex court in the case of miss dhun dadabhoy kapadia (supra).5.4. the ao has also given a detailed chart on pp. 10 and 11 of the assessment order in the case of ajax investments ltd., giving complete details of rights of fcd transferred by various companies of this group ..... to unjust results.5.11. likewise, the ao further relied upon the judgment of the hon'ble m.p. high court in the case of cit v. badri prasad agarwal (1983) 142 itr 353 (mp), manikchand & co. v. state of tamilnadu (1977) 39 stc 12, air 1977 sc 518 and the decision of the hon'ble supreme court in the case .....

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