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Judgment Search Results Home > Cases Phrase: rationale Court: income tax appellate tribunal itat mumbai Page 1 of about 121 results (0.113 seconds)

Aug 09 2007 (TRI)

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

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... they do not apply to other credits appearing in the accounts of an assessee. for that reason also the amounts cannot be assessed as unexplained credits. hence there is no rationale at all in looking askance at credit entries while ignoring the debit entries in one and the same account, more so when the debit entries outnumber the credit entries and .....

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Feb 13 2013 (TRI)

Hercules Hoists Limited Acit Vs. Mumbai

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... assuming the same as having been absorbed against any other income, can not, thus, be considered as the initial assessment year. this emanates clearly from the language employed and the rationale of the provision, as explained, besides being endorsed by the decisions by the tribunal cited and relied upon by the parties before us. 4.4 further on, section 80-i ..... deduction u/s. 80-ia(1) for such year. further, even ignoring the said argument, so that s. 80-ia(5) applies, the question that arises is: what is a rationale in including some losses while disregarding others? in fact, empirically speaking, the unabsorbed depreciation and losses would only be during the initial years over which the charge of depreciation is ..... , where there is an unabsorbed deprecation / loss incurred prior to that year, so that there is no scope for the same being carried forward and set off. there is no rationale for such an embargo or restriction, which is thus incomprehensible in-as-much as it is neither borne out by the clear language of the provision nor by its ..... rationale; rather, goes against its grain, besides being inconsistent with the memorandum, explanatory notes and the board circular explaining the provision, which operate as a contemporaneous expositor inasmuch as they clarify .....

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Feb 14 2005 (TRI)

Joint Cit Vs. Cipla Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)2SOT617(Mum.)

..... our considered opinion the fact-situation basically being identical, we need justifiably follow our decision rendered above on similar issue in assessment year 1995-96 and apply the same principle /rationale in assessment years 1996-97 and 1997-98 as well. since the method of computation of eligible profit for the purpose of deduction under section 80-ia is the same .....

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Jul 27 2005 (TRI)

Shah Investments Financial Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)8SOT334(Mum.)

..... doubt on their intention professed by the principle documentation (g) if the lessee is a public utility undertaking, whether the sale of the equipment would be in conformity with the rationale for its existence and whether it would have an adverse impact on the working these are only some of the factors that one is expected to keep in view, in .....

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Dec 23 2005 (TRI)

The Jcit, Spl. Range-2 Vs. Alfa Laval (i) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)286ITR193(Mum.)

..... the transfer of goodwill were not liable to tax. this was on account of the judicial view approved by the supreme court in cit v. b. c. srinivasa shetty . the rationale of the decision was that goodwill being a self-generated asset and not costing anything in terms of money, the gains could not be computed in accordance with the provisions .....

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Apr 02 2007 (TRI)

Starline Ispat and Alloys Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108TTJ(Mum.)321

..... for neutralising an unscrupulous manoeuvring for reducing or avoiding taxes, exclusion clauses inbuilt in the explanation extended to such finance companies as well. it is thus clear that the underlying rationale and philosophy of the exclusion clauses is that on account of inroduction of such sweeping generalisations, as are inherent in the scheme of the explanation to section 73, genuine losses ..... that provision and in the context of setting in which it occurs". bearing in mind this important principle of interpretation of statutory enactments, let us try to appreciate the underlying rationale and philosophy of the explanation to section 73.aman portfolio (p) ltd. v. dy. cit (2005) 92 ttj (del) 351 : (2005) 92 itd 324 (del). in this decision, our tribunal ..... is 'banking' or 'granting of loans and advances', again this deeming fiction will have no application.10. let us take a pause here and try to fathom underlying philosophy and rationale of the exclusion clauses set out in explanation to section 73 of the act, and also of the very scheme of the section 73 itself. to our understanding, our appreciation .....

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Nov 29 2001 (TRI)

M. Visvesvaraya Industrial Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)83ITD511(Mum.)

..... ) v. girdharilal shewnarain tantia trust (1993) 199 itr 215 (cal) and hindustan welfare trust v. director of income-tax (exemption) 201 itr 564 (cal.) etc., we do not see any rationale as to why the large amount of funds were designated "unsecured loans". if the assessee had no difficulty in consuming the bulk of 'advance rent' in the construction of buildings .....

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Aug 14 2003 (TRI)

The Icici Ltd. Vs. Dy. Cit, Special Range 36

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... doubt on their intention professed by the principal documentation? (g) if the lessee is a public utility undertaking, whether the sale of the equipment would be in conformity with the rationale for its existence and whether it would have an adverse impact on its working? these are only some of the factors that one is expected to keep in view in .....

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Nov 14 2007 (TRI)

First Global Stockbroking (P) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)115TTJ(Mum.)173

..... of annex. a/i seized from the ground floor, crescent chambers, tamarind lane, fort, mumbai have the same details on them. one is handwritten, whereas the other is typed. the rationale of writing or typing the same has already been explained. (xi) further the learned ao has made the following additions on account of suppression of profits: (i) this company had .....

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Aug 14 2003 (TRI)

Mid East Port Folio Management Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD537(Mum.)

..... conduct of the parties how transparent has it been (g) if the lessee is a public utility undertaking, whether the sale of the equipment would be in conformity with the rationale for its existence and whether it would have an adverse impact on its working these are only some of the factors that one is expected to keep in view in .....

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