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Judgment Search Results Home > Cases Phrase: mediation Court: income tax appellate tribunal itat nagpur Year: 2003 Page 1 of about 3 results (0.042 seconds)

Sep 08 2003 (TRI)

income Tax Officer Vs. Rajendra Tiwari

Court : Income Tax Appellate Tribunal ITAT Nagpur

Decided on : Sep-08-2003

Reported in : (2004)82TTJ(Nag.)347

..... through shri nandkishore sahu cannot be doubted. he also found that there was no legal requirement that the agricultural produce should be sold only through mandi and not directly through mediator. (iii) the ao placed reliance on the income-tax inspector's report in rejecting the claim of the assessee in part and this report of the inspector was obtained behind .....

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Feb 28 2003 (TRI)

Vidarbha Irrigation Development Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Nagpur

Decided on : Feb-28-2003

Reported in : (2005)93ITD184(Nag.)

1. this is an appeal by the assessee against the order of cit(a)-i, nagpur, dated 11.12.2001 in appeal no. 13/2001 -2002 and it relates to the a.y. 1998-99.2. the assessee/appellant is a statutory corporation which was set up under the vidarbha irrigation development corporation ordinance, 1997 dated 12.3.1997 which was later replaced by the vidarbha irrigation development corporation act, 1997 (maharashtra act no. xxvi of 1997) (hereinafter referred to as 'the vidc act') which came into force with effect from 12.3.1997. for a.y.98-99 it filed it's first return of income on 30.11.98 in the status of 'domestic company' showing a loss of rs. 1,40,31,211/-. during the course of assessment proceedings the assessee however claimed its status to be that of a 'local authority' as against a 'domestic company' as originally stated in the return of income. the assessee made such a claim since under section 10(20) of the income tax act, 1961 (hereinafter referred to as 'the act') while computing the total income of a previous year of any person, any income of a local authority which is chargeable to tax under the head income from house property, capital gains, income from other sources or from a trade or business carried on by it which accrues or arises from the supply of a commodity or service (not being water or electricity) within it's own jurisdictional area or from the supply of water or electricity within or outside it's own jurisdictional area, shall not be included.3. the term .....

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Jul 04 2003 (TRI)

Additional Commissioner of Vs. Hira Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Decided on : Jul-04-2003

Reported in : (2004)82TTJ(Nag.)512

1. this appeal filed by the revenue is directed against the order of the learned cit(a)-i, raipur, dt. 27th feb., 2001, and in a solitary ground raised therein, the revenue has challenged the action of the learned cit(a) in allowing relief of rs. 44,99,417 out of the disallowance made by the ao under section 43b on account of unpaid sales-tax liability by making prima facie adjustment.2. the relevant facts of the case giving rise to this appeal are that a return of income filed by the assessee for asst. yr. 1997-98 declaring a net loss of rs. 29,65,817 was initially processed by the ao under section 143(1)(a) on 9th feb., 1998, making a prima facie adjustments to the tune of rs. 25,752. subsequently it was noticed by the ao that the assessee-company had not paid outstanding sales-tax amount of rs. 44,99,417 shown under the head "deferred payment credit" in the balance sheet before the due date as required by first proviso to section 43b whereas as per note no. 8 in schedule 'u' annexed to the balance sheet filed with the return of income, the initial exemption granted to the assessee-company from sales-tax liability had already expired on 17th oct., 1993. he, therefore, was of the opinion that there was a mistake in not disallowing the said amount by way of prima facie adjustment in the intimation issued under section 143(1)(a) and since the same was apparent from record, he sought to rectify the same by way of rectification under section 154. accordingly a notice under .....

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