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Judgment Search Results Home > Cases Phrase: dharma hindu law Court: income tax appellate tribunal itat delhi Year: 2000 Page 1 of about 32 results (0.063 seconds)

Jan 24 2000 (TRI)

India Seed House Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jan-24-2000

..... period 1st april, 1995, to 31st march, 1995, claimed by the assessee before the ao or not.85. it is well settled proposition of law that admission of a party is substantive piece of evidence and if such admission is clearly and unequivocally made, is the best evidence against the party making ..... according to learned departmental representative the admission was the best piece of evidence which can be used against the person who makes it and no doubt law is clear that assessee can prove that the statement given by him was incorrect but in the case in hand there is no material on record ..... was fully justified in taxing the same as income of the assessee as offered by the assessee in his statement recorded at various stages. the case law as relied upon by the assessee's counsel is of no help to the assessee as neither any books of accounts nor any other documents to ..... books of account and, therefore, no further deduction was required, on this account, to be allowed.50. after carefully considering the submissions made, case law cited and recording of statement and reading it out to the assessee is concerned it was pointed out by the learned departmental representative at the time of ..... the signatures. there is definitely a flaw in the statement obtained by the revenue authorities. full reliance cannot be made on such statement. the case laws cited by the learned counsel before us duly support the claim that the statement or confession which was retracted cannot be a basis for making addition .....

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Apr 17 2000 (TRI)

Deputy Commissioner of Vs. Mittal Corporation

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Apr-17-2000

Reported in : (2001)77ITD270(Delhi)

..... considered view, there was no infirmity of any kind, legal or otherwise, in the findings of the cit (appeals). we have also considered the case laws as relied upon by the cit (appeals) and here before us and we find that they were rightly applied by the cit (appeals) as they ..... or having been converted into convertible foreign exchange outside india, is brought into india, by or on behalf of the assessee in accordance with any law for the time being in force for regulating payments and dealings in foreign exchange, there shall be allowed, in accordance with and subject to the ..... (appeals) has also controverted all the objections of the assessing officer in a very nice manner. he has properly understood the interpretation of law, then only the appeal of the assessee was allowed by the first appellate authority. firstly the cit (appeals) noted that the informations, which were given ..... heard the rival submissions and considered them carefully.we have also perused the material on which our attentions were drawn.after considering the material and case laws we found that the cit (appeals) has dealt with the issue with proper application of mind. the issue was discussed in details. the cit ..... described from pages 2 to 4 of the written submissions. after considering the submissions and perusing the order of the assessing officer and also the case laws relied upon by the assessee, along with board's circular no. 72, the cit (appeals) was of the view that the assessing officer .....

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Feb 01 2000 (TRI)

Mrs. Padma JaIn Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Feb-01-2000

..... act." 9. on perusing the impugned order, we find that the learned dcit(a) held as under :-- "... in this case, the appellant has surrendered her right in the properly under hindu law whether the act of relinquishment or right is permissible or not, that is a different issue. in this case, the hon'ble high court has accepted the claim of the ..... to distinguish annsya sarahhai (supra) and it was not applicable to the present case.8. after hearing the rival submissions and going through the record as well as the case law cited, we are of the considered opinion that the ground raised by the assessee is liable to be accepted. the assessee has relied upon gujarat high court decision which squarely .....

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Mar 24 2000 (TRI)

Honda Siel Power Products Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Mar-24-2000

Reported in : (2001)77ITD123(Delhi)

..... clearly of revenue nature and would have to be taxed accordingly. the accountants might have taken some other view but accountancy practice was not necessarily good law. this was not a case of diversion of income by overriding title, the assessee was entirely at liberty to deal with the interest amount as ..... of the supreme court has held that the interest earned from bank deposits will be treated as income from other sources.15. we have perused the case law in the case of south india shipping corpn. ltd. (supra) and tuticorin alkali chemicals & fertilizers ltd. (supra) and found that the ratio of ..... heard the rival submissions and considered them carefully.we have also perused the material on record, on which our attention was drawn and the various case laws relied upon by both the parties. after considering the submissions and perusing the material, we are of the view that cit (admn.) has assumed his ..... under sections 80hh and 80-i, it was submitted that these deductions were also wrongly denied, as the claim is allowable as per provisions of law because the assessee is deriving income from an industrial undertaking. the interest shown in the profit & loss account is net interest, as the receipts ..... 1995-96. the following grounds have been taken by the assessee in its appeal:-- "1. that on the facts and circumstances of the case and in law the commissioner of income-lax, delhi-iii, new delhi (briefly "the cit') erred in assuming jurisdiction under section 263 of the income-tax act, 1961 .....

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Mar 24 2000 (TRI)

Honda Siel Power Products Ltd. Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Mar-24-2000

..... clearly of revenue nature and would have to be taxed accordingly. the accountants might have taken some other view but accountancy practice was not necessarily good law. this was not a case of diversion of income by overriding title. the assessee was entirely at liberty to deal with the interest amount as ..... supreme court has held that the interest earned from bank deposits will be treated as income from other sources.18. we have perused the case law in the case of south india shipping corporation ltd. and tuticorin alkalies (supra) and found that the ratio of these decisions are not applicable ..... heard the rival submissions and considered them carefully.we have also perused the material on record, on which our attention was drawn and the various case laws relied upon by both the parties. after considering the submissions and perusing the material, we are of the view that cit(admn.) has assumed his ..... march, 1998, was erroneous and prejudicial to the interest of revenue. 2. that, on facts and circumstances of the case and in law the cit erred in directing the ao to disallow deduction of rs. 78,80,125 representing advance excise duty paid and reflected under the head "loans & advances ..... 1995-96. the following grounds have been taken by the assessee in its appeal : "1. that, on the facts and circumstances of the case and in law the cit, delhi-iii, new delhi erred in assuming jurisdiction under s. 263 of the it act, 1961 (briefly "the act") alleging that order dt. 12th .....

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Jul 25 2000 (TRI)

Haryana Wareshousing Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jul-25-2000

Reported in : (2000)75ITD155(Delhi)

..... itr 273 (all). this decision is dated 28th march, 1991. in this case it was held that the assessee was an authority constituted under the law for the marketing of commodities. the tribunal had held that income received by it, though called miscellaneous receipts was in truth income derived from letting warehouses ..... ) 222 itr 44 (pat)) in which their lordships have observed that ratio of ranchi club ltd. (supra) had not laid down a correct law and their lordships have further observed that said ratio required reconsideration through a larger bench and matter stands referred to larger bench. their lordships have also ..... of penalty or otherwise. but in the provisions of s. 234b no such provision has been made and from clauses attached to the direct tax laws (amendment) act, 1987, it is very clear that provisions are mandatory. i may recall a maxim "expressum facit cessare tacitum" and meaning thereof ..... very intention of the legislature we have to look into the clauses by which the legislature has brought s. 234b to the statute through direct tax laws (amendment) act, 1987. in this connection the relevant clause inserting s. 234b is reproduced which is appearing at (1987) 168 itr (st.) ..... and the rival submissions. the provisions relating to advance payment of tax have undergone certain significant changes on account of amendments made by the direct tax laws (amendment) act, 1987. it would be relevant to refer to some of these provisions.9. sec. 207, as substituted by the aforesaid act, .....

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Jul 14 2000 (TRI)

Dolly Farms and Resort (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jul-14-2000

Reported in : (2000)74ITD147(Delhi)

..... fairness. the seekers of justice many a time has to take a long circuitous routes, both on account of hierarchy of courts and the procedural law. such persons are and can be dragged till the last ladder of the said hierarchy for receiving justice. it is, therefore, incumbent on ..... get hold of assets representing income believed to be undisclosed income. the words "undisclosed income" is defined under s. 158b(b).this provision of law relates to the branch of jurisprudence which effects some of the very important rights of a citizen. it is, therefore, to be narrowly watched, ..... the parties has to be adjudicated upon in accordance with the provisions of the it act which presupposes that the issues have to be resolved as per law.rules have been framed describing the procedure for functioning of the bench and to facilitate rendering the justice in the speedier, judicious and best possible ..... between the parties has to be adjudicated upon in accordance with the provisions of it act which presupposes that issues have to be resolved as per law. rules have been framed prescribing the procedure for functioning of the bench and to facilitiate rendering the justice in the speedier, judicious and best possible ..... has to be adjudicated upon in accordance with the provisions of the it act. this presupposes that the issues have to be resolved as per law and not in any other manner. rules have been framed prescribing the procedure for the functioning of the bench and to facilitate rendering the .....

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Jan 18 2000 (TRI)

Assistant Commissioner of Vs. Anima Investment Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jan-18-2000

Reported in : (2000)73ITD125(Delhi)

..... case of cit vs. sophia finance co. ltd. (1994) 205 itr 98 (del) and to decide the issue afresh on merits in accordance with law after affording sufficient opportunity of being heard to the assessee-company." 45. the learned accountant member has set aside the order of the learned cit(a) ..... jurisdictional delhi high court in the case of cit vs.sophia finance ltd. (supra) and to decide the issue afresh on merits in accordance with law after affording sufficient opportunity of being heard to the assessee-company.29. in the result, the departmental appeal is treated to be allowed for statistical purposes ..... . it was also claimed that the company is a juristic person and it is different from an individual or a partnership. as per the company law, it maintains register of shareholders and submitting annual returns incorporating the changes in the register to the registrar of companies. the company is not authorised ..... order and requires to be restored.10. we have heard rival submissions, perused the record, gone through the orders of authorities below and the case law as cited by both parties. we have also gone through the documents to which our attention was drawn by the parties. from the documentary evidence as ..... assessment of the company. further reliance was placed on tribunal decision as referred to supra where the facts were similar and it was held that law does not entitle the ito to insist upon appellant/assessee that he should not only prove the source but also source of source. it was .....

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Feb 29 2000 (TRI)

Ravi Kant JaIn Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Feb-29-2000

..... the guidance of legal experts tried to wriggle out from the said unequivocal admission and he cannot be allowed to do so and addition has rightly been made.the case laws relied upon by the learned ao in the assessment order have been reiterated by the learned departmental representative to substantiate the plea that admission being not proved to have been ..... ) in which their lordships have pointed out that s.158ba was intended to assess undisclosed income in contradistinction with the earlier assessment.16. on the basis of all these case laws the submission of the learned counsel was that ao was not justified to disturb the earlier assessments in which the ao had rightly assessed the short-term/long-term capital ..... 528 (del), r.ramanathan vs. asstt. cit (1998) 65 itd 108 (mad) and parakh foods ltd. vs. dy. cit (1998) 64 itd 396 (pune). the ao considered all these case laws as well as submissions of the assessee and was of the opinion that only issue before him was as to whether income which had been returned under particular section of .....

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Jun 26 2000 (TRI)

Atul R. Aggarwal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jun-26-2000

Reported in : (2001)78ITD343(Delhi)

..... arrangement alone even if the original contract did not exist rescission of the original contract may be properly inferred. this case had been reported at page 866 in mukherjee's law of contract vol. i. if we apply the above reasoning to the facts of the present case then undisputedly new agreement dated 24-9-1993 deals with the same subject ..... of the contract act terminating the contract as observed in the case of koyana suryanarayana reddy v. c. chellayyamma air 1989 ap 276 reported at page 704 in mukherjee's law of contract vol. i. in the case in hand dev kumar aggarwal though not required to serve the notice, had informed acharya arundev that agreement will stand no more and ..... immovable properties are concerned, time will not be the essence of the contract. if it is mercantile contract time shall be of essence of contract. it is well settled general law that where time is specified in a contract it should be performed within the time specified otherwise within a reasonable time. as per provisions of section 55, as reproduced above ..... of authorities below and the appeals filed by the assessee be dismissed.5. we have considered the rival submissions and perused the record carefully and also gone through the case laws referred to by learned representatives of the parties. at the very out set it is noteworthy to mention that most of the facts are not in dispute. it may be .....

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