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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat west bengal Year: 2002 Page 1 of about 3 results (0.045 seconds)

Jan 31 2002 (TRI)

Deputy Commissioner of Income Tax Vs. I.C.i (India) Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jan-31-2002

Reported in : (2004)268ITR129Cal

..... of the assessee, namely kanoria chemicals & industries ltd.'s case (supra) which was decided on 28th may, 1991. the bombay high court has held in cit v. thana electricity supply ltd. (1994) 206 itr 727 (bom) that when there are two different decisions of the same court, it is advisable to ..... (supra).however, the bench brought to the notice of the learned representatives of the parties the subsequent decision of the jurisdictional high court in the case of cit v. century enka ltd. (1992) 196 itr 447 (cal) wherein their lordships have held that the day-to-day fluctuations in the rate of foreign ..... of opinion between the members, the following question was referred to me under section 255(4) of the act : "whether, on the facts and in the circumstances of the case, the order of the cit(a) directing to allow depreciation on the additional liability arising to the assessee due to fluctuation in the ..... . the ao disallowed the claim in the light of the order for the earlier years.3. on appeal, the learned cit(a) allowed the claim in the light of the order for asst. yr. 1991-92 ..... exchange rate is to be upheld or not ?" 2. the facts are that the assessee claimed rs. 56,15,081 as deprecation on exchange fluctuation capitalized during the year under section 43 a of the it act .....

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Jul 29 2002 (TRI)

ifb Agro Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-29-2002

Reported in : (2003)261ITR17Cal

..... and on the basis of this amended provision and after taking into consideration the definition of turnover as given in section 2(s) of the sales-tax act, their lordships of the supreme court in its later decision in mcdowell & co. ltd.'s case (supra) held that it is the total amount ..... . (4a) the deduction under sub-section (1a) shall not be admissible unless the supporting manufacturer furnishes in the prescribed form along with his return of income,-- (a) the report of an accountant, as defined in the explanation below sub-section (2) of section 288, certifying that the deduction has been ..... assessee. (4) the deduction under sub-section (1) shall not be admissible unless the assessee furnishes in the prescribed form, along with the return of income, the report of an accountant, as defined in the explanation below sub-section (2) of section 288, certifying that the deduction has been correctly claimed ..... proviso to sub-section (1), there shall, in accordance with and subject to the provisions of this section, be allowed in computing the total income of the assessee, a deduction of the profits derived by the assessee from the sale of goods or merchandise to the export house or trading ..... merchandise to which this section applies, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction of the profits derived by the assessee from the export of such goods or merchandise: provided that if the assessee, .....

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Feb 26 2002 (TRI)

Assistant Commissioner of Vs. Punna Textiles Industries (P.)

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Feb-26-2002

Reported in : (2002)258ITR121Cal

..... hand, the learned authorised representative of the assessee submitted that no reason for the delay in grant of authorisation from the office of the commissioner of income-tax has been explained by the department and, hence, the application does not explain any unforeseen circumstances which caused the delay in filing the appeal.5. ..... april 19, 1997. to bring out the reason on record the learned authorised representative was requested to file an affidavit of the concerned commissioner of income-tax in this regard. in spite of the specific direction of the bench, the required affidavit was not filed.6. it seems that the authority has ..... the appeal be heard on the merits. it was stated that there was delay in the receipt of authorisation from the office of the commissioner of income-tax and the same was received on april 28, 1997, whereas the last day for filing the appeal as per section 253(3) expired on april ..... case, leading to the delay for filing of appeal before the expiry of the period of limitation as prescribed under section 253(3) of the act, the decision of the supreme court in the aforesaid case directly applies.8. viewing thus, we have no option but to reject the petition of ..... municipality, air 1972 sc 749, has held that the department should give sufficient reasons for not filing the appeal within the period stipulated in the act and no circumstances or event which arise after the expiry of the limitation can constitute such cause. in view of the facts and circumstances of the .....

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