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Judgment Search Results Home > Cases Phrase: dharma hindu law Court: income tax appellate tribunal itat hyderabad Year: 2000 Page 1 of about 11 results (0.078 seconds)

Nov 20 2000 (TRI)

Andhra Pradesh State Road Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Nov-20-2000

..... contract before us that property in the bus bodies remained with the fabricators and it got vested with the appellant-corporation only upon the completion of the sale. the case laws relied upon by the learned senior departmental representative do not come to the help of the case of the revenue as the facts involved in these cases were different than ..... contract in question is in pith and substance a contract for work and labour or one for the sale of chattel. these principles have enunciated and culled out from halsbury laws of england, 3rd edn., vol. 34, 6-7.15. in the case before us, after careful consideration of the covenants, material features of the contract entered into by the appellant ..... as 'assessee-in-default' for no fault of the assessee under section 194c, the order passed under section 201 by ao and confirmed by learned cit(a) is contrary to law, which may be reversed.8. on the other hand, learned senior departmental representative, shri t. jayashankar was forceful in his arguments to prove that section 194c clearly covers the case .....

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Nov 20 2000 (TRI)

Andhra Pradesh State Road Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Nov-20-2000

Reported in : (2002)74TTJ(Hyd.)531

..... contract before us that property in the bus bodies remained with the fabricators and it got vested with the appellant-corporation only upon the completion of the sale. the case laws relied upon by the learned senior departmental representative do not come to the help of the case of the revenue as the facts involved in these cases were different than ..... contract in question is in pith and substance a contract for work and labour or one for the sale of chattel. these principles have enunciated and culled out from halsbury laws of england, 3rd edn., vol. 34, 6-7.in the case before us, after careful consideration of the covenants, material features of the contract entered into by the appellant, as ..... 'assessee-in-default' for no fault of the assessee under section 194c, the order passed under section 201 by assessing officer and confirmed by learned commissioner (appeals) is contrary to law, which may be reversed.on the other hand, learned senior departmental representative, shri t.jayashankar was forceful in his arguments to prove that section 194c clearly covers the case of .....

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Jun 22 2000 (TRI)

Abex Corpn. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Jun-22-2000

Reported in : (2001)78ITD235(Hyd.)

..... held that: "the presumption against retrospective operation is not applicable to declaratory statutes. a declaratory act may be defined as an act to remove doubts existing as to the common law, or the meaning or effect of any statute. such acts are usually held to be retrospective. the usual reason for passing a declaratory act is to set aside what parliament ..... deems to have been a judicial error, whether in the statement of the common law or in the interpretation of statutes. an explanatory act is generally passed to supply an obvious omission or to clear up doubts as to the meaning of the previous act ..... . it is well settled that (if a statute is curative or merely declaratory of the previous law, retrospective operation is generally intended)." as far as the present case on hand is concerned, rule 115a of the income-tax rules is also a declaratory act which stands on .....

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Jun 22 2000 (TRI)

Abex Corporation Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Jun-22-2000

..... held that: "the presumption against retrospective operation is not applicable to declaratory statutes. a declaratory act may be defined as an act to remove doubts existing as to the common law, or the meaning or effect of any statute. such acts are usually held to be retrospective. the usual reason for passing a declaratory act is to set aside what parliament ..... deems to have been a judicial error, whether in the statement of the common law or in the interpretation of statutes. an explanatory act is generally passed to supply an obvious omission or to clear up doubts as to the meaning of the previous act ..... . it is well settled that (if a statute is curative or merely declaratory of the previous law, retrospective operation is generally intended)" as far as the present case on hand is concerned, rule 115a of the it rules is also a declaratory act which stands on par .....

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Oct 20 2000 (TRI)

G. Venkatareddy and Co. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Oct-20-2000

Reported in : (2001)73TTJ(Hyd.)401

..... to the effect that the factum of repayment was the pointer to the genuineness of the loan transactions.therefore, keeping in view the entire material placed before us and the law position as enunciated by honble calcutta high court in the cases relied upon by the learned commissioner (appeals) and by us supra, we are of the considered view that assessing ..... credits appear in the books of account. section 68 has come to be considered in very many judgments before various high courts and before honble supreme court. it is settled law that it was necessary for the assessee to prove prima facie the transactions which results in cash credits in his books of account. three ingredients will have to be satisfied .....

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May 29 2000 (TRI)

Knb Investments (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : May-29-2000

..... the special resolution was passed on the basis of which the preferential allotment of shares was made to the appellant-companies. the shares were allotted observing the relevant provisions of law contained in the companies act, 1956, rules and regulations formulated by sebi and the stock exchange. the statement showing the percentage of holding by dr. k. anji reddy ..... department contended that all the arguments made by the learned senior counsel appearing for the appellant-companies, are purposefully drifting away from the essential facts of the case and the laws relevant thereto. the learned departmental representative stated that the statutory documents of the appellant-companies like memorandum of association, etc., have clearly stated the nature of business carried on ..... issue. the share issue has been made observing all the provisions of the companies act, 1956 and the sebi regulations. it has been done in accordance with all the existing laws and regulations. the preferential allotment of shares was not a manipulative scheme. there was no secret agenda. everything was transparent. the allotted shares were not quoted in the stock ..... gone wrong in completing the impugned assessments in the names of the appellant-companies, who are non-existing and therefore, the assessments are void ab initio and bad in law. the third ground relates to the contention that the cit(appeals) has erred in confirming the assessment treating the benefit as taxable in the impugned assessment year 1995-96 .....

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May 29 2000 (TRI)

Knb Investments (P) Itd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : May-29-2000

Reported in : (2004)89TTJ(Hyd.)561

..... that the special resolution was passed on the of which the preferential allotment of shares was made to the appellant-companies. the shares were allotted observing the relevant provisions of law contained in the companies act, 1956, rules and regulations formulated by sebi and the stock exchange. the statement showing the percentage of holding by dr. k. anji reddy ..... , contended that all the arguments made by the learned senior counsel appearing for the appellant- companies, are purposefully drifting away. from the essential facts of the case and the laws relevant thereto. the learned departmental representative stated that the statutory documents of the appellant- companies like ' memorandum of association, etc., have clearly stated the nature of business carried ..... the share issue has been made observing all the provisions of the companies act, 1956, and the sebi regulations. it has been done in accordance with all the existing laws and regulations. the preferential allotment of shares was not a manipulative scheme. there was no secret agenda. everything was transparent. the allotted shares were not quoted in the stock ..... gone wrong in completing the impugned assessments in the names of the appellant- companies, who are non-existant and therefore, the assessments are void ab initio and bad in law. the third ground relates to the contention that the commissioner (appeals) has erred in confirming the assessment treating the benefit as taxable in the impugned assessment year 1995-96 .....

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May 29 2000 (TRI)

Knb Investments (P) Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : May-29-2000

Reported in : (2001)79ITD238(Hyd.)

..... special resolution was passed on the basis of which the preferential allotment of shares was made to the appellant-companies. the shares were allotted observing the relevant provisions of law contained in the companies act, 1956, rules and regulations formulated by securities and exchange board of india and the stock exchange. the statement showing the percentage of holding ..... contended that all the arguments made by the learned senior counsel appearing for the appellant-companies, are purposefully drifting away from the essential facts of the case and the laws relevant thereto. the learned departmental representative stated that the statutory documents of the appellant-companies like memorandum of association, etc., have clearly stated the nature of business carried ..... made observing all the provisions of the companies act, 1956 and the securities and exchange board of india regulations. it has been done in accordance with all the existing laws and regulations. the preferential allotment of shares was not a manipulative scheme. there was no secret agenda. everything was transparent. the allotted shares were not quoted in the ..... gone wrong in completing the impugned assessments in the names of the appellant-companies, who are non-existing and therefore, the assessments are void ab initio and bad in law. the third ground relates to the contention that the commissioner (appeals) has erred in confirming the assessment treating the benefit as taxable in the impugned assessment year 1995- .....

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Dec 14 2000 (TRI)

N.K. Leasing and Construction (P) Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Dec-14-2000

Reported in : (2001)79ITD658(Hyd.)

..... loan. words have not to be read in isolation but documents as a whole will have to be read to arrive at the true construction. case law relied by revenue has no application in the instant case. therefore, in our considered opinion, hire purchase transactions entered into by the appellant company, are ..... legislation, which cannot be imputed by any means. hire purchase arrangement may be a mode of financing a transaction but such arrangement is recognised by the law and is backed up fully by a special enactment. therefore, when there is a special enactment recognising and regulating a particular class of transactions and ..... in india and includes other types of charges with which we are not concerned here. therefore, from the plain reading of the text of the law, it is clear that the interest stated to be received by the appellant-company from its sister concerns, and included in the other income are ..... general arguments that its object clause in the memorandum of association include several objects e.g. leasing, real estate so on so forth.it is settled law that the apparent is real unless proved by the person who alleges that it is not so. in the instant case, as pointed out above also, ..... made to the sister concerns.therefore, he concluded his argument by making a strong plea that orders passed by the authorities below are in accordance with law and appellant was very much a "credit institution" as it was a financial company and no interference was called for.in reply, learned counsel for .....

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Dec 14 2000 (TRI)

N.K. Leasing and Construction (P) Vs. Deputy Commissioner of Income Ta ...

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Decided on : Dec-14-2000

..... loan. words have not to be read in isolation but documents as a whole will have to be read to arrive at the true construction. case law relied by revenue has no application in the instant case. therefore, in our considered opinion, hire-purchase transactions entered into by the appellant-company, are ..... legislation, which cannot be imputed by any means hire-purchase arrangement may be a mode of financing a transaction but such arrangement is recognised by the law and is backed up fully by a special enactment. therefore, when there is a special enactment recognising and regulating a particular class of transactions and ..... in india and includes other types of charges with which we are not concerned here. therefore, from the plain reading of the text of the law, it is clear that the interest stated to be received by the appellant-company from its sister concerns and included in the other income are very ..... arguments that its object clause in the memorandum of association include several objects e.g., leasing real estate so on so forth. it is settled law that the apparent is real unless proved by the person who alleges that it is not so. in the instant case, as pointed out above also ..... advances made to the sister concerns. therefore he concluded his argument by making a strong plea that orders passed by the authorities below are in accordance with law and appellant was very much a "credit institution." as it was a financial company and no interference was called for.6.1. in reply, learned .....

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