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Judgment Search Results Home > Cases Phrase: pepsu court of wards act 2008 bk Sorted by: old Court: income tax appellate tribunal itat Page 1 of about 10 results (0.103 seconds)

Feb 02 2007 (TRI)

income Tax Officer, Vs. De Beers India Minerals Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2008)297ITR176(Bang.)

..... , the cit(a) has held that maps cannot be described as plan or designs. in this regard reliance is placed on a decision of supreme court reported in 253 itr 274 in the case of commissioner of custom v. parasrampuria synthetics ltd. the learned cit(a) erred in holding that the ..... ii p.257 transfer means "to convey or make over title, right or property by deed or legal process 31. under section 2(47) of the act, the term "transfer", in relation to a capital asset, includes:sunil siddharthbhai v. commissioner of income-tax kartikeya in the general sense, the expression "transfer ..... for the development and transfer of technical plan and technical design. the term "development" has been defined in the advanced law lexicon to mean: the act, process or result of developing or growing or causing to grow; the state of being developed" happening. the word 'transfer' means the passage of ..... execute all work and services required pursuant to this survey in a professional and work manlike manner, and in compliance with all applicable laws, regulations, acts and notices of any federal, provincial, territorial or local government or any agency thereof. clause 1.15: all information and data to any site on ..... of 'fees for technical services' under the article 12 of the indo-netherlands double tax avoidance agreement (dtaa) read with section 90 of the act.alternatively, he has also held that the payment in question was for development and transfer of a technical plan or technical design. thus he held .....

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Mar 02 2007 (TRI)

thermax Babcock and Wilcox Ltd. Vs. Addl. Commissioner of It, Spl.

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)304ITR130(Pune.)

..... though no part of that amount represented any expenditure actually made during the year. it was, thus, concluded by the hon'ble apex court that if a certain act or event has imported a definite and absolute liability on the assessee, that liability would be an accrued liability and would not convert into ..... party who has committed the breach is required to pay such compensation and that is what is provided in section 73 of the contract act. thereafter the hon'ble supreme court has in the concluding paragraph at para 72 b(1) page 31 of the photocopy enclosed laid down the criteria adopted in allowing ..... v. cit (2000) 245 itr 431 (sc). therefore, applying the samp analogy as applied in the case of warranty by the hon'ble kerala high court, delhi high court and the privy council in the cases of i) cit v.indian transformers ltd (supra), ii) cit v. vinitec corporation p ltd (supra) and iii ..... and not extravagant.7.2 after considering the assessee's submissions as well as the ao's order and a number of decisions of the various high courts and supreme court, the cit (a) has confirmed the ao's order. while deciding the issue against the assessee, the cit (a) has made following observations ..... conditional one merely because the liability was to be discharged at a future date. it was further observed by the hon'ble apex court that there .....

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Jul 31 2007 (TRI)

Deputy Commissioner of Income Tax Vs. Finolex Cables Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)114TTJ(Pune.)785

..... the tribunal (sb) that, all slb transactions as such cannot be considered to be dubious or colourable devices or subterfuges aimed at tax evasion. the enquiry which a court or the tribunal can make, when faced with an slb transaction is to find out the real intention of the parties and ascertain whether a simple loan transaction masquerades as ..... 348 depreciation as per books 2,61,00,924 add : customs duty paid on opening stock 1,53,83,606 32.46,62,828 less : depreciation as per it act 1,82,22,148 30,64,40,680 less : customs duty paid on closing stock 2,16,43,410 profit of new undertaking 28,47,97,270 9.1 ..... under section 80-1. in the statement of total income enclosed with the return, deduction of rs. 7,11,99,318 was claimed under section 80-1 of the act in respect of the urse unit as under: particulars amount (rs) amount (rs) amount (rs) profit as per p&l a/c of the urse division 28, ..... and lease back, must be considered to be a genuine slb transaction.8.11 it is true that the expln. 4a to section 43(1) inserted by the finance act, 1996 w.e.f 1st oct., 1996 is a recognition of the position that all slb transactions cannot be held to be motivated only by tax evasion. there ..... /shortages deductions were made by the buyer in the bills submitted by the assessee. the cit(a) has held that this claim was allowable under section 37 of the act and we see no reason to disagree with him. this ground is accordingly rejected. on the facts and in the circumstances of the case, the learned cit(a) .....

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Aug 14 2007 (TRI)

Dhariwal Industries Ltd. Vs. Acit (inv.) and Addl. Cit, Range-1

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)111ITD379(Pune.)

..... matter is supported by the principle laid down in sil import, usa v. exim aides silk exporters , in which the hon'ble supreme court, in the context of the service of notice under section 138 of the negotiable instruments act, has held as tinder: francis bennion in "statutory interpretation" has stressed the need to interpret a statute by giving allowance for any ..... relevant changes that have occurred, since the act's passing, in law, social conditions, technology, the meaning of words and other matters. for the need to update legislations, the courts have the duty to use interpretative process to the fullest extent permissible by the enactment. the following passage at page ..... the above book has been quoted with approval by a three judge bench of this court in state v. s.j. choudhary it is presumed that parliament intends the court to apply to an ongoing act a construction that continuously updates its wording to allow for changes since the act was initially framed (an updating construction). white it remains law, it is to be ..... treated as always speaking. this means that in its application on any date, the language of the act, though necessarily embedded in its .....

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Aug 17 2007 (TRI)

Videsh Sanchar Nigam Ltd. Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)111ITD190(Mum.)

..... to the profits derived from any trade or business carried on by the assessee other than the industrial undertaking. while considering again the scope of section 15c of the it act, 1922, the court held that the new industrial unit would not lose its separate and independent identity even though it has been set up by a company which is already running an ..... ownership does not render undertakings, which are otherwise capable of being separated into a common undertaking. while considering the exemption available to an assessee under section 15c of the it act, 1922, the court held that exemption is confined to profit derived from the industrial undertaking and cannot operate in respect of any profit derived by the assessee from any trade or business ..... other than the industrial undertaking. in this context, the court held that section 15c of the it act, 1922 does not make an industrial undertaking per se the unit of assessment. there is a clear distinction between the assessee and the industrial undertaking. in this ..... could be classified as a newly established industrial undertaking and will qualify for the relief. in this case again, the calcutta high court was considering a case in the light of section 15c of the old it act, 1922. the court observed that section 15c makes a distinction between the assessee and the industrial undertaking. the unit of assessment is the assessee and not .....

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Aug 24 2007 (TRI)

Finolex Pipes (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)114TTJ(Pune.)664

..... 176(3a), 170(1)(b) and 28(iv) were applicable to this case and his order has been upheld by the tribunal and by the high court. the court observed that the provisions of the explanation to section 170(1)(b) were not applicable because the gain in the form of sales-tax refund could not ..... that our decision in the case of thermax (p) ltd. (supra) was based on the interpretation of the provisions of section 41(1) of the act, as given by the supreme court in the case of saras watt industrial syndicate ltd. (supra), as under (headnote): in order to attract the provisions of section 41(1) of ..... company m/s finolex pipes (p) ltd. w.e.f. 1st nov., 1982 under a scheme approved by the bombay high court in terms of provisions of sections 391 and 394 of the companies act, 1956. in respect of certain claims lodged by finolex plastics, an amount of rs. 6,13,895, representing cash assistance and ..... income received by the assessee.21. manifestly, the above observations of the supreme court apply to a receipt which is taxable under section 41(1) of the act and do not apply to a receipt which is directly taxable under section 28 of the act. in the present case the impugned amount of rs. 6, 13, 895 ..... the it act, 1961, the identity of the assessee in the earlier year in which deduction was granted in relation to a trading liability and in the .....

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Aug 25 2007 (TRI)

Sanghvi Movers P. Ltd. Vs. Dy. C.i.T. Special Range-3

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)110ITD1(Pune.)

..... use of asset for purposes of business. this is what has been consistently held by the supreme court and the bombay high court in the decisions cited supra. permanent registration under the motor vehicles act is not sin qua non for claim of depreciation. temporary registration for a limited period pending ..... been heard. shri inamdar, learned counsel for the assessee vehemently submitted that learned accountant member had wrongly relied upon decision of hon'ble bombay high court (nagpur bench) in the case of dineshkumar gulabchand agrawal v. cit 267 itr 768 which was distinguishable on facts as even facts of case ..... and is entitled for claim of depreciation. above view, according to learned judicial member, is supported by the decision of hon'ble bombay high court in the case of dineshkumar gulabchand agrawal 267 itr 768. he accordingly reversed the finding of cit (appeals) and held that assessee be allowed ..... machinery, the assessee must be considered as having used the machinery for the purposes of its business. though the issue before the hon'ble court related to investment allowance, the ratio laid down in the case would apply mutatis mutandis. in the ultimate analysis, the learned judicial member observed ..... significance in view of exposition of law that the word "used" under section 32 of the act has to be given wider meaning and it will include assets ready for use.cit v. pepsu road transport corporation has held that the assessee who was the transporter had to keep spare engines .....

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Jan 31 2008 (TRI)

Ranka Jewellers Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)117TTJ(Pune.)522

..... we are under obligation to distinguish, few case laws, which were cited by learned authorised representative. the well-known decision of hon'ble supreme court in the case of malabar industrial co. ltd. (supra) discussed the conditions precedent for invocation of section 263 and held that when the ao ..... be adversely effected while contesting the quantum appeal because the issue before us is limited to the invocation of provisions under section 263 of it act.simultaneously, our decision of confirming the action of the learned cit shall also not effect adversely by this observation because we have made ourselves ..... of the revenue or appellate authority. this judgment has a limited scope just revolving around to consider the assumption of jurisdiction under section 263 of it act by learned cit, nonetheless, facts and circumstances of the case, if any, related to the merits in respect of the quantum addition, being ..... unnoticed firstly by the special auditor and secondly by the ao, therefore, the learned cit has invoked the jurisdiction under section 263 of it act.learned departmental representative has commented that efforts have been made from the side of appellant to establish that how this small investment of rs. ..... not the subject-matter of this appeal.the learned cit has broadly given two reasons for the invocation of the provision of section 263 of it act, as follows: 2. it is noticed that while completing the assessment, the ao has not considered the issue of investment required by the .....

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Feb 15 2008 (TRI)

Amway India Enterprises Vs. the Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)111ITD112(Delhi)

..... . as already noted, a similar contention as raised on behalf of the assessees before us relying on the relevant provisions of the copyright act, 1957 was also raised before the hon'ble supreme court in the case of tcs (supra) and while specifically dealing with the same, it was observed by his lordship mr. justice s.b ..... term "goods" given was not as wide or as exhaustive as the definition of the term "goods" given in a.p. sales tax act, its conclusion was recorded by the hon'ble supreme court finally as under:- "in our view, the term "goods" as used in article 366(12) of the constitution of india as defined ..... term "goods'" given was not as wide or exhaustive as the definition of term "goods" in the a.p. sales tax act was taken into account and relied upon by the hon'ble supreme court to hold that a software, whether customised or non-customised, satisfies all the attributes of being a "goods' and as such, ..... as a purchase of a copyrighted article wherein no copyright right is transferred either as per the copyright act or even as per the u.s regulations on this subject. as regards the decision, of hon'ble supreme court in the case of tata consultancy services v. state of andhra pradesh 271 itr 401, it has ..... for specific purposes need not alter their status as "goods". while referring to this decision, it was noted by the hon'ble supreme court that the definition of the term "goods" in the customs act is not as wide or exhaustive as the definition of the term "goods" in the a.p. sales tax .....

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Jan 23 2013 (TRI)

M/S. L.G. Electronics India Private Limited Vs. the Asstt. Commissione ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... meaningless. in sagir ahamad's case the amendment to the constitution was done prospectively. that is the reason for which the hon'ble supreme court held that the unconstitutional act passed anterior to such amendment cannot be validated by a subsequent amendment. 7.17. at this stage it is appropriate to note that sub ..... clause (i) of sub-sec. (3b) referred to ??advertisement, publicity and sales promotion ? . the hon'ble jurisdictional high court in the case of cit vs. khetu ram bishambar dass [(2008) 166 taxman 273 (del.)], has held that bonus paid to dealers is not in the nature of sales promotion expenses and hence ..... the additional evidence filed by the ld. dr through the first application. the assessee in response to notice u/s 92ca for the a.y. 2008-09 submitted before the tpo that lg electronics singapore pte. ltd.'s (lgesl) marketing division is responsible for developing a range of marketing and sale ..... technically speaking, it is not additional evidence as it comprises of the order passed by the tpo in assessee's own case for a.y. 2008- 09; submissions made by the assessee itself and statements of the employees of the assessee recorded by the revenue. as will be seen infra that ..... also submitted that the department seeks to file some new material through such application, which material is germane to the proceedings for the a.y. 2008-09 and hence the same cannot be considered as significant for the year under consideration. 8.4. we have heard the rival submissions in this .....

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