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Judgment Search Results Home > Cases Phrase: debentures companies act Court: income tax appellate tribunal itat kolkata Year: 2005 Page 1 of about 3 results (0.074 seconds)

Feb 08 2005 (TRI)

Peerless Securities Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-08-2005

Reported in : (2005)60SCL59NULL

..... . it is envisaged as a pioneer institution to promote retail trade for debt securities. the nse has two segments for trading in securities: (1) capital market segment (equity, debentures and hybrids), and (2) wholesale debt market (wdm) or money market segment (t-bills, cps, cds, psu bonds etc.). the assessee in the present case has been ..... the learned counsel for the assessee has submitted and contended as under:-- "1. the issue involved herein is as to whether the following payments made by the appellant-company to the different stock exchanges are allowable as revenue expenditure or will have to be treated as capital expenditure.---------------------------------------------------------calcutta stock exchange association :development fee rs. 70,00 ..... of rs. 1,19,50,000 was rejected by the assessing officer in the assessment completed under section 143(3) of the act on 15-3-1999 by stating and observing as under :- "the assessee-company is engaged in the business of share & stock brokerage. in the computation of income furnished alongwith the return of income, the ..... 97 in ita no. 251 /cal. of 2000 is a fit case for reference to the special bench. the facts of the case are that the assessee-company made the following payments to different stock exchange :----------------------------------------------------------calcutta stock exchange association rs.---------------------------------------------------------development fee 70,00,000fees for operating on the floor 1,50,000otc exchange of .....

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Aug 22 2005 (TRI)

Abn Amro Bank Nv Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Aug-22-2005

Reported in : (2006)280ITR117(Kol.)

..... would be liable to tax in india and would be governed by the provisions of section 115a of the act. if the dtaa with the country where the parent company is assessed to tax provides for a lower rate of taxation, the same would be applicable". to this ..... was dealing with the assets distributed whether to constitute income and held that where the assessee had transferred his share in certain controlled companies and the companies went into voluntary liquidation and distributed their assets, the assets so distributed, which were deemed to be dividends within the meaning of ..... to participate in the debtor's profits, and in particular, income from government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. 6. the provisions of paras 1, 2 and 3 shall not apply if the beneficial owner of the ..... participate in the debtor's profits, and in particular, income from the government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. this provision does not apply if the beneficial owner of the interest, carries on business in the other ..... participate in the debtor's profits and in particular, income from the government securities and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. penalty charges for late payment shall not be regarded as interest for the purpose of this article. 7. .....

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Feb 08 2005 (TRI)

Peerless Securities Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-08-2005

Reported in : (2005)94ITD89(Kol.)

..... as a pioneer institution to promote retail trade for debt securities. the nse has two segments for trading in securities: (1) capital market segment (equity, debentures and hybrids), and (2) wholesale debt market (wdm) or money market segment (t-bills, cps, cds, psu bonds etc.). the assessee in the ..... for meeting initial expenses for establishing the distributorship, had to be considered to be a revenue expenditure by observing and holding as under: "the respondent-company, which carried on, inter alia, the business of tanning hides and manufacture of leather products, entered into an agreement with cw & co. of ..... the assessee has submitted and contended as under: 1. the issue involved herein is as to whether the following payments made by the appellant-company to the different stock exchanges are allowable as revenue expenditure or will have to be treated as capital expenditure.calcutta stock exchange of association : ..... personnel of the dealer to undergo such qualification procedure, as may be prescribed. such training was necessary for the employees of the appellant-company in order to become familiar with the operation of otcei. such training also includes training on software of otcei. thus you would kindly ..... 19,50,000 was rejected by the ao in the assessment completed under section 143(3) of the act on 15th march, 1999 by stating and observing as under : "the assessee-company is engaged in the business of share and stock brokerage. in the computation of income furnished along with .....

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