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Judgment Search Results Home > Cases Phrase: pawnee contract Court: income tax appellate tribunal itat mumbai Page 1 of about 401 results (0.078 seconds)

Dec 06 1999 (TRI)

Blue Dart Express Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)75ITD414(Mum.)

..... dated july 27, 1995 (annexure j-1-7) giving therein the nature of assessee's business and enclosing therewith a copy of global service partnership contract (gsp contract).vide letter dated august 24, 1995 (annexure k 1-8) the assessee gave (para-8) reasons for computing deduction under section 80-o on ..... professional services to fed ex outside india. it was brought to the notice of the assessing officer that fed ex requires the assessee under its contract to render world class services as per the procedures and standards laid down in their operations, manuals and guides. it was on rendering such ..... nature of assessee's business would not entitle the assessee to claim deduction under section 80-o which is not self evident from the gsp contract itself. by presuming that the assessee is eligible to deduction under section 80-o the same was allowed without even raising any enquiry in ..... various operation manuals and guides. the services were rendered to fed ex under a contract on principal to principal basis and the same were much more than mere courier services. the assessee not only provided technical/professional services but ..... in rendering technical/professional services to fed ex which in turn enabled them to serve their clients abroad. therefore, it was not merely a contract for assisting fed ex for making deliveries. the assessee was rendering fed ex world class services as per the procedures and standards laid down in .....

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Mar 13 1997 (TRI)

M.M. Ratnam Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)62ITD21(Mum.)

..... assessee was accepted by the council. on the other hand, facts and circumstances, indicated elsewhere in this order, establish otherwise. therefore, there was no contract completed in the year 1977 between the assessee and the council for transfer of the flat.23. in 1981, assessee, it is claimed, had offered ..... other hand, sought to support the decision of the learned accountant member. it was contended that shri r. s. mehra was not competent to contract on behalf of the council and as such his assurance to the assessee in 1981 that the property would be transferred to the assessee was of ..... passing of the resolution and could have forestalled the deal. passing of unanimous resolution in spite of aforesaid facts, clearly confirms that there existed a contract, though verbally to sell the flat in 1981.as far as the existence of a written agreement is concerned, we are of the opinion ..... expressly declared to be void." "nothing herein contained shall affect any law in force in india, and not hereby expressly repeated, by which any contract is required to be made in writing or in the presence of witnesses, or any law relating to the registration of documents." from the facts ..... the assessee conveyed his acceptance, the council, though could have retracted its offer, but accepted the acceptance given by the assessee, and therefore, the contract was complete in the year 1981 itself. these being the facts, we are unable to agree with the departmental representative that is was not an ordinary .....

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Feb 07 1991 (TRI)

Underwater Services Company (P.) Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1991)37ITD447(Mum.)

..... 1987-88 and 1989-90 respectively. in respect of the third, up to assessment year 1989-90, the issue was pending finality and in respect of the fourth contract, the contract itself got frustrated. on the basis of the concept of real income and the scope of total income within the meaning of section 5, the method of accounting becomes ..... departmental representative who addressed us at length and exhaustively reading .from the assessment order, the order of the learned first appellate authority and the case law pleaded that all contracts have to be taken as different projects and income/expenditure assessed in respect of each separately on a definite method of accounting. concludingly, he justified the orders of ..... completed - 6-10-1986amount billed/date - -amount received - -remarks - work started in - assessment year 1987-88 - was pending till - assessment year 1989-90.(4) cherry chentak - surveydate of contract - 15-2-1985time allowed - 2 monthsworkstarted - 19-4-1985work stopped - 7-6-1985amount billed/date - -amount received - -remarks - whether conditions prevented resumption he has, in the context of above ..... assessee has forcefully contended that there was no material with the learned lower authorities to have apportioned/allocated the expenditure as has been done by them inasmuch as the contracts entered into by the assessee were for services whether these are salvage services or maritime maintenance services, the services remain the same and all these services are the integral .....

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Feb 18 1997 (TRI)

Mahindra and Mahindra Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)61ITD129(Mum.)

..... 11 being the international accounting standard which are in the paper book filed by the assessee and contended that even when the assessee follows the completed contract method in contra-distinction to the percentage of completion method, the assessee is entitled to claim a deduction for anticipated losses.the relevant portion of ..... the accounting standard (as-7) is reproduced below : "19. a foreseeable loss on the entire contract should be provided for in the financial statements irrespective of the amount of work done and the method of accounting followed." the learned counsel for the assessee ..... the assessing officer has to be based only on the method of accounting regularly employed. in the present case, the assessee has been following completed contract basis and a provision for the foreseen losses is permissible in the light of the accounting standard. in this context, he has relied upon the ..... ltd. [1991] 188 itr 337/55 taxman 79.21. the learned d.r. pleaded that the assessee has been returning the results from the contracts work only at the end of their completion and it is an absurd situation to allow the assessee to postpone the profits but to grant a deduction ..... cited above, the provision has also to be shown as an asset in the balance sheet along with the cost incurred in respect of the contract and it should not be allowed as a deduction from the profits. he has also pleaded that section 145 of the act which casts a .....

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May 18 2005 (TRI)

Amitabh Bachchan Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)97TTJ(Mum.)516

..... 20. settlement of disputes and governing laws--all disputes or differences arising between the parties out of, or in relation to the construction, meaning and operation or effect of the contract or the breach thereof shall be referred to arbitration in bombay, in accordance with the arbitration act, 1940 and the rules thereunder. this agreement shall be governed by and construed ..... the above engagement schedule it shows that there would be some definite programme drawn up by abcl containing date, time and location for the performance of the assessee. the contract defines guaranteed period as under : '"guaranteed period' means the period of 120 working days exclusive of bank and public holidays in any given calendar year during which the ..... "(i) an actor/performer anchor in cinematograph films, feature films, television films and other audio-visual works howsoever described.4.10 regarding engagement schedule, it has been defined in the contract as under : "'engagement schedule' means a schedule during which the artist will fulfil his obligations under these presents, which schedule shall contain dates, time and locations for publicity and ..... in accordance with the arbitration act, 1940 in respect of all disputes or differences arising between them or in relation to construction, meaning and operation or effect of the contract of breach thereof section 34 of the arbitration act prohibits action contemplated in clause 11 of the agreement. from the above, it would be clear that m/s abcl .....

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Aug 09 2007 (TRI)

Asstt. Cit, Rg. 4(1) Vs. Claridges Investments and

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... had been disclosed were within the price band of the market price of the respective days (page 331 of the paper-book). once the special auditor acknowledges that contract notes were furnished; the shares were received in and delivered from demat account; further supported by demat slips, demat statements and clearing house statements of the brokers and ..... paper-book) the special auditor has discussed the assessee's transactions with the three kolkata brokers.the special auditor takes exception to the assessee not furnishing the bills or contract notes from the three brokers but acknowledges five documents titled "delivery bill". these delivery bills too were not found satisfactory as they did not contain serial number, the ..... as against the evidence placed by the assessee the assessing officer had nothing more than conjectures, surmises and suspicion. disallowances had been made without examining the relevant evidence like, contract notes, payments made against purchases and received against sale of shares, delivery instructions, respective credit and debit in the demat statements, relevant entries appearing in the bank statement ..... paper-book) the special auditor has discussed the assessee's transactions with the three kolkata brokers. the special auditor says that the appellant did not produce any bills or contract notes from the three brokers but produced five documents titled "delivery bill" that did not contain serial number, the time (not date) of execution of the transactions, .....

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Aug 31 2001 (TRI)

Micoperi S.P.A. Milano Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD369(Mum.)

..... representative referred to the case of lloyd helicopters international pty. ltd. decided by the authority for advance ruling wherein the applicant, a non-resident company entered into a contract with c, another non-resident company to provide helicopter services to facilitate the operation of a joint venture project of extraction and production of mineral oil on various sites ..... , 8 & 9 of the compilation filed by the assessee. at p. 3, there is an agreement between hhi and the assessee. as per this agreement, hhi entered only a contract with ongc for the designing, procurement, fabrication, construction, inspection, testing, pre-commissioning, load out, sea fastening, tow out, transportation, installation, commissioning and start-up on a turnkey basis ..... income are chargeable to indian income-tax. (ii) the cit(a) ought to have appreciated your appellants' submissions that your appellants being a sub-contractor for a portion of contract hyundai heavy industries company limited (hereinafter referred to as hhi) had with oil & natural gas commissions (hereinafter referred to as ongc) can in no case be deemed as ..... company was engaged in the business of engineering, transportation, installation of platforms, raisers, pipe laying and testing site services etc. during the year, the assessee entered into two sub-contracts, one with m/s hyundai heavy industries co. ltd., korea (hereinafter referred to as hhi) on 5th dec., 1982 and another with mazagaon dock ltd., bombay (hereinafter referred .....

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Jul 22 1981 (TRI)

Second Income-tax Officer Vs. Ramji Dayawalla and Sons

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1982)2ITD121(Mum.)

..... (a) is that incurred wholly and exclusively on- (viii) performance of services outside india in connection with or incidental to, the execution of any contract for the supply outside india of such goods, services or facilities.this specific clause was examined by the bombay bench 'b' of the tribunal consisting ..... of 'a' is only rs. 1.0 for the performance of services outside india in connection with or incidental to the execution of any contract for the supply outside india of such services.as i have stated above, the provision of section 35b are applicable only to an assessee ..... any different. the facts are identical. under identical circumstances, the assessee has proceeded to provide labour to parties outside india for carrying out civil contracts. in the earlier years, the tribunal and the commissioner (appeals) have granted this relief under section 35b(1)(6)(viz) treating it as expenditure ..... the assessee, therefore, took up the matter before the commissioner (appeals), who noted that under similar circumstances where the assessee had undertaken similar labour supply contract in singapore and elsewhere, the bombay bench 'e' of the tribunal in it appeal nos. 3364 and 997 (bom.) of 1976-77, decided on ..... which were paid by the assessee on behalf of the principals to the employees.2. during the years under consideration, the assessee was under a contract for the supply of labour to the japanese company by name of ishikawajima-harima heavy industries co. ltd. at tokyo, japan (ihjh), for .....

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May 30 1996 (TRI)

Haldor Topsoe Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)59ITD313(Mum.)

..... . flow of technology, goods and services, information, managerial talent is rampant in this era of development.the international business transactions may be conducted in the form of licensing agreements, management contracts, turnkey projects, joint ventures, foreign subsidiaries, etc., etc.29. managing in international arena poses special problems for international managers apropos the planning, organising, controlling, etc., but due to the advent ..... has its principal place of office at nymollevej 55, dk-2800 lungby, denmark. by an agreement dt. 15th feb., 1981 (paper book pages 20 to 180), it entered into a contract with rashtriya chemicals and fertilisers ltd. (hereinafter referred to as "rcf") a company registered in india under the companies act, 1956. it has its registered office at administrative building, chembur ..... urea plants.in view of the above, the assessee had undertaken to provide specific management services relating to construction which have been made part of the contract and which activity has been made inseparable from its contract of designing, engineering, erection and commissioning of chemical fertiliser complex consisting of ammonia plant and urea plants. therefore, it could not be concluded that the .....

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Apr 17 2001 (TRI)

Dgp Windsor (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)84ITD641(Mum.)

..... to earn a reasonable rate of return consequent to the lease of the said asset; (d) since the lease of the asset would amount to a contract of bailment, the lessor has absolute right over the asset.the terms of finance were worked out independent of any specific equipment to be sold by sebs ..... commit any breach of the terms of the agreement. this right is a specific right, over and above the normal right of repossession given under the contract act.the substance of the arrangement is one of lending against security of fixed assets : a sale and lease-back transaction contemplates sale of assets by ..... entitled to terminate the lease, repossessthe assets and claim damages. however, in the instant case, the lessor does not make any attempt to lease is a contract of bailment. hence, the lessor gets the right to repossess the equipment at the end of the lease period or in a case of breach of terms ..... he has taken the amount of care of its described in s. 151.' it will be appreciated that the lease agreement in this case is a special contract between the bailor and the bailee and accordingly, the provisions contained in the lease agreement with regard to rent, maintenance, risk on account of use. etc ..... total loss/damage, the lessees would have to replace the equipment at its own cost and the lease will continue.a lease is a contract of bailment andthe parties to the contract are free to bind themselves in respect of rent, maintenance, risk on account of use, etc. as they deem fit. accordingly, it .....

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