Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat indore Year: 1988 Page 1 of about 3 results (0.124 seconds)

Jan 14 1988 (TRI)

S.U. Pumps (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Jan-14-1988

Reported in : (1988)27ITD290Indore

..... 12(2)(iii) of the hyderabad income-tax act. the income-tax officer however, held that as no tax was deducted from the interest, the assessee should pay on that amount income-tax at the maximum rate under section 24(12) of the hyderabad income-tax act. held that "payment" in section 24(4) of the hyderabad income-tax act [corresponding to section 18(3a) of the indian income-tax act, 1922] should be interpreted as meaning ..... lenders could not be deemed to be payment within the meaning of that sub-section so as to attract the provisions of section 24(12) of the hyderabad income-tax act [corresponding to section 18(7) of the indian income-tax act] the order of the income-tax officer demanding tax from the assessee was, therefore, not in accordance with law.7. their lordships of the supreme court in ..... at the time of payment" in section 195(1) certainly envisage actual payment of amount. when provisions of section 194a(1) are read conjectively with section 195(1) of the income-tax act, it is abundantly clear that former covers both time of credit as well as time of payment whereas the latter only refers "the time of payment". thus, the legislature clearly ..... of the assessee that interest was payable in india. the revenue has not shown that interest was payable outside india and thus provisions of section 40(a)(i) of the income-tax act were attracted in this case. the learned d.r. in his written submissions to justify the disallowance has relied on the decision of kerala high court in the case .....

Tag this Judgment!

Dec 22 1988 (TRI)

Smt. Chandrakanta Jhavar Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Dec-22-1988

Reported in : (1989)29ITD368Indore

..... consulting physician and cardiologist.3. the assessments left the assessee aggrieved and were challenged in appeal before the aac. before the aac certain decisions of the income-tax appellate tribunal on section 80u were cited. the aac did not accept the certificate of dr. mukerjee on its face value. he summoned the doctor under ..... the rules made in this behalf by the board' have been inserted by the finance act, 1984 w.e. f. 1-4-1985. therefore, the amended provisions of section 80u will apply to the assessment years 1985-86. the assessment years ..... or occupation. he has given a reasoned order after examining the doctor and rejected the claim of the assessee for deduction under section 80u of the act by upholding the orders of the ito and dismissing the appeals.4. we have heard the parties and carefully considered their rival submissions. the 1d counsel ..... section 131 of the act at the back of the assessee and examined him as to the effect of the disease from which the assessee was suffering. from the answers given ..... very circular, which is mentioned by the ito in the impugned assessment orders.11. it is seen that section 80u of the act has been renumbered as sub-section (1) by the finance act, 1984 w.e. f. 1-4-1985. we also find that the words 'being a permanent physical disability specified in .....

Tag this Judgment!

Aug 22 1988 (TRI)

Omprakash Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Aug-22-1988

Reported in : (1989)29ITD87Indore

..... may say, does not appeal to us. for his proposition the learned counsel drew our attention to clause (c) of section 4(1) of the gift-tax act which runs as under: where there is a release, discharge, surrender, forfeiture or abandonment of any debt, contract or other actionable claim or of any interest in property by any ..... thereby, the right to money value of the goodwill stands transferred and the transaction constitutes a gift under the gift-tax act, 1958. the learned d.r., therefore, argued that the learned lower authorities were justified in their views that the gift-tax is leviable in the present case.10. we have considered the rival submissions, facts and materials on record and also ..... in respect of the valuation of goodwill and it was considered not to have made a gift of share of goodwill in favour of incoming partner remaining partners of the firm. he confirmed the decision of the gift-tax officer. hence these appeals before the tribunal.5. the first contention raised by the assessee's learned counsel was that in the case ..... 1964 and 1968. the facts of that case and the case before us are distinguishable. firstly, there were introduction of fresh capitals by the incoming partners and secondly there was agreement of active participation of business by incoming partners. in this case, these had not happened. there was neither introduction of new capital or the fresh blood came in participating in business .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //