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Judgment Search Results Home > Cases Phrase: comparative chart of corresponding sections of 1983 act Court: income tax appellate tribunal itat jaipur Page 1 of about 3 results (0.085 seconds)

Jun 29 2007 (TRI)

Vijay Industries Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2007)112TTJ(JP.)353

..... brief facts of the case are that the assessee is a partnership firm engaged in export of large types of pvc wires, which have been manufactured by the assessee. a comparative chart of the total turnover, gross profit and net profit for the year and immediately preceding years is as under:asst. year total turnover total g.p. g.p. % total n ..... learned authorised representative that there was increase in the prices of the copper during the impugned year which is a major part of direct cost whereas there has not been corresponding increase in the selling prices. there was an increase in the cost of export expenditure. the main reason for decrease in g.p. rate was duty difference of rs. 98 ..... open. we have therefore to consider whether, on the merits, the decision of the high court in adopting the reasoning given in pandian chemicals ltd. 's case (supra). section 80hh of the it act grants deduction in respect of profits and gains 'derived from' an industrial undertaking. the contention of the appellant before us is that interest earned on the deposit made with ..... the same increased to 1800-1850 us $ per m.t. to support this contention, detailed london metal exchange (lme) price charts were also submitted (paper book 15-18) before the lower authorities. on the other hand, there has not been a corresponding increase in the selling prices to recoup this extra burden for the reason that purchases made earlier were consumed towards .....

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Sep 27 1983 (TRI)

H.H. Maharao Bhim Singhji Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1984)10ITD558(JP.)

..... of such rulers.29.3 when the wealth-tax act was introduced in 1957, corresponding exemption was given to the former rulers of the indian states vide clause (iii) of section (1) of section 5. the only difference between the concession given under the income-tax act and that given under the wealth-tax was that, ..... before it the files of the commissioner wherein he might have kept the record of initiating the proceedings under section 25(2) and the conduct thereof by him. the record of the wto containing correspondence, extracts from which had been placed on record in the form of paper books by the assessee, was ..... assessee's claim for exemption. as such, the assessment orders were erroneous insofar as prejudicial to the interests of the revenue. the departmental representative next compared para 10 with para 11 of the order of the learned accountant member and brought out the non-application of mind by the wto, while making ..... tehsil records, it has been shown at 5017 1/2 bighas. as per audit report the land has been shown at 4815.02 bighas. the consolidated chart with reasons is enclosed herewith. assessee has given reasons for showing lesser agricultural land than recorded in tehsil records. some of the reasons are : either ..... the surroundings of umed rhavan at kota. the value of aforesaid land was not declared in the wealth-tax return filed by you on 18-8-1983. 2. the assessment for the assessment year 1973-74 was made by the wto on 28-1-1978. the value of the aforesaid property could .....

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Dec 27 2002 (TRI)

P.C. Mundra Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2003)80TTJ(JP.)945

..... , it appears that the comparison of the trade in iron scrap is not good with the comparison of trading in machine parts. the ao should have taken the comparative figure of the other scrap dealers. in the instant case, the ao made the addition of rs. 2,10,000. but the cit(a) has taken unexplained ..... be concluded even by making the correspondence with the assessee. he relied on the ratio laid down by the tribunal, agra bench, in the case of chandra bhan bansal v. dy. cit (2003) 79 itd 639 (agra). accordingly, the time-limit prescribed in the proviso to section 143(2) of the act is inapplicable to a return filed ..... custody of the assessee.share certificates were also found, which were inventorised as per annexure 0-1. accordingly, the investment was determined at rs. 40,375 as per chart annexed with the assessment order. the assessee has made a surrender of rs. 50,000 in the asst, yr. 1994-94. the ao has not objected to ..... warranted for these two items as these are very common items in every family specially when one tv is reflected in the balance sheet from the asst. yr. 1983-84 and onwards. hence, we set aside both the orders of lower authorities said delete the addition of rs. 19,500.182. the next grievance of the ..... by the ao. further, the taperecorder was an old piece. this tv was shown for rs. 2,200 in the balance sheet filed for the asst. yr. 1983-84 and onwards (pp. 418 to 423 of the paper book).181. by considering the totality of the facts and circumstances of the case, we are of the .....

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Mar 09 2007 (TRI)

Shreyans Gems (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2007)111TTJ(JP.)959

..... 1999 which resulted into finished product of 19,890 carats by 17th may, 1999.there was a tall of 5,070 carats in the process of manufacturing and corresponding entries were made in the stock register. out of rough emeralds weighing 1,07,171.50 carats imported, rough emerald weighing 5,830 carats were sold as it ..... not been examined by the ao and he just on his presumption made addition which cannot be said to be justified. the ao has also not given any comparable case of similar business in which the higher yield of production is declared by a particular assessee. since the appellant assessee has shown higher rate of yield ..... 31,000 less rs. 32,81,441) i.e. about 30 per cent which is not possible. moreover, the ao has not invoked the provisions of section 145 of the act and have not rejected the books of account.21. in such circumstances and facts of the case, when the assessee has completely explained the work-in-progress and ..... 2,03,926 being item no. (iv)] plus rs. 36,574 out of (i), (ii) and (iii) proved pb 115 paras 1.30 and 1.31 and chart pb 38.7. as regards the controversy about cost claimed as computed by mr.bafna, notice of ao dt. 17th dec, 2002 was received (pb 8-9). the assessee ..... 54 ttj (jp) 479, 481; (iii) shanker rice co. v. ito (2000) 67 ttj (asr)(sb) 84 : (2000) 72 itd 139 (asr)(sb); (iv) iac v. cosmopolitan trading corporation (1983) 34 ctr (trib) 37 (jp)(sb): (1985) 14 1td 327 (jp)(sb); (viii) triveni pharma v. ito (2004) 85 ttj (jp)(tm) 950 : (2005) 92 ttd 125 (jpxtm); .....

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