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Judgment Search Results Home > Cases Phrase: comparative chart of corresponding sections of 1983 act Sorted by: old Court: income tax appellate tribunal itat ahmedabad Page 1 of about 16 results (0.058 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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Jul 31 1989 (TRI)

Madhusudan Vegetable Products Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1990)32ITD103(Ahd.)

..... of the invoice dated 3-1-81 from d.r. kulkarni & co., clearing agent pertaining to the same item, namely, oil burner. (pages 14 & 15) (e) correspondence between the assessee and g.i.d.c. on the one hand and between the assessee and ongc on the other during the period 6-12-79 extending up to ..... . tonnes and the raw material, fuel and electricity used for this purpose were also in very small quantities. even the workers employed were not as many as compared to the persons employed subsequently. even the items produced during these two months were very few and were of the type which any manufacturer of a new product ..... appeal (ground no. 17) is stated as follows: that the cit (appeals) in alternative should have considered the claim of the assessee under section 80-i and 80hh(a) of i.t. act, 1961.i agree with the conclusion of my learned brother. however, i would like to add a few lines. on the question of investment ..... to manufacture or produce articles." (page 6) (b) copy of the directors' reports pertaining to a.ys. 1981-82 and 1982-83. (pages 7 & 8) (c) chart showing the machinery put to use in a.y. 1981-82 and that put to use in ay 1982-83. (page 9) (d) copy of the invoice dated 15- ..... the main kiln with the imported oil burner. (6) the natural gas was supplied only on 17-9-81 that being a date relevant to a.y. 1983-84. (7) the certificate issued by the industries commissioner clearly stated that the commercial production commenced on 1-3-81 and this was an important piece of evidence .....

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Mar 20 1990 (TRI)

Producers Union Ltd. Vs. Assessing Officer.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1990)37TTJ(Ahd.)145

..... /35. in a. y. 1981-82 the prices were raised 4 times with the final price being fixed at rs. 32/26. the corresponding figures for a. y. 1982-83 and 1983-84 were 8 times and nil; the final prices being rs. 41/48 & rs. 45/73 respectively. in the assessment year under consideration ..... would adversely affect the suppliers, many of whom were poor people, and the co-operative movement generally. he supplied two sets of figures - one showing the comparative position of payments made by similar societies and the other showing payments made by the assessee over a period of years. the former is as follows : ..... amongst the members who constituted the bench. the following point of difference is referred to the honble president of the income-tax appellate tribunal under section 255(4) of the income-tax act, 1961 : per shri ch. g. krishnamurthy, president, third member -this is a matter coming out of an appeal taken up for ..... 69,105 has been diverted with a view to reduce the taxable income and consequently the tax payable to the government. the following position emerges from the chart appended at page 47-a of the assessees paper book : "mehsana district co-operative milk producers union ltd., mehsana.384.002 23. it is apparent ..... average price paid by other.milk producer unions in the state of gujarat (see para 6 of the order of the learned judicial member).15. a chart furnished by the assessee during the course of the hearing shows that in a. y. 1980-81 the prices of buffalo milk were raised 8 times .....

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Jan 23 1992 (TRI)

Deputy Commissioner of Vs. Jayant Paper Mills

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1992)41ITD153(Ahd.)

..... to collect from him whether in one year or the other.the rate of tax in the case of the companies in the years under consideration was perhaps higher as compared to the rate of tax applicable in assessment year 1991-92, in the year when the hon'ble supreme court decided the issue relating to price fixation. even otherwise the ..... a sum of rs. 1,88,879 being the amount of such liability pertaining to the supplies received during the previous year corresponding to assessment year 1982-83 should be allowed as a deduction.11.1 in assessment year 1983-84 the assessee submitted that deduction in respect of rs. 4,38,739 representing increase in rates and royalty payable to ongc ..... years under consideration without any contract in view of the interim orders passed by the hon'ble high court. in a matter like this the provisions of section 70 of the indian contract act would apply as such supplies would be treated as having been received under a quasi-contract and the assessee at all times was under an obligation to pay ..... for the difference in the rate demanded by the ongc and the old rate of rs. 504.40 paid by the assessee has been given in the aforesaid chart. the provision in assessment year 1983-84 was made by calculating the difference between the rate of rs. 741 demanded by the ongc and the old rate of rs. 504.40 paid by .....

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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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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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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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