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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 Year: 2003 Page 1 of about 2 results (0.058 seconds)

Jan 24 2003 (TRI)

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

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on : Jan-24-2003

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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Feb 19 2003 (TRI)

Assistant Commissioner of Income Vs. Affection Investments Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on : Feb-19-2003

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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