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Judgment Search Results Home > Cases Phrase: rationale Court: income tax appellate tribunal itat west bengal Year: 1999 Page 1 of about 2 results (0.047 seconds)

Jul 14 1999 (TRI)

Gkw Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-14-1999

..... , complications, litigations, etc., provisions of s. 80vva and s. 115j were given go-by but again the need was felt and the present s. 115ja was introduced with the same rationale. the present scheme is more or less a replica of the provisions of s. 115j with certain important changes such as losses shall not include depreciation and book profit shall ..... rendered inoperative with effect from the asst. yr.1991-92 by an amendment made to sub-s. (1) by the finance act, 1990 w.e.f. 1st april, 1990. the rationale offered by the government for the introduction of s. 115ja remains the same as was given when somewhat similar provisions were introduced for the first time by the finance act .....

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May 10 1999 (TRI)

Deputy Commissioner of Income Tax Vs. Stone India Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : May-10-1999

1. these two appeals are filed by the revenue and they involve certain common issues. we, therefore, dispose of these two appeals by a common order for the sake of convenience.2. we are concerned with the asst. yrs. 1991-92 and 1992-93. ground no.1 in asst. yr. 1991-92 pertains to the questions of application of s.37(4) of the act with regard to the rent, repairs and depreciation on the guest house. the ao observed that all expenditure incurred on the maintenance of the guest house and depreciation has to be disallowed by virtue of specific provisions of s. 37(4) of the act and he further observed that cl. (ii) of explanation to the section specifically mentioned that rent paid in respect of such guest house falls under the expression 'expenditure incurred on the maintenance of a guest house'.cit(a) however, set aside the disallowance by following his predecessor's order for the asst. yr. 1990-91. thus, the revenue is in appeal before us.3. after hearing the rival submissions we are of the opinion that the issue is squarely covered against the assessee and in favour of the revenue by the decision of the hon'ble calcutta high court in the case of cit vs. upper ganges sugar mills ltd. (1994) 206 itr 215 (cal). we, therefore, set aside the order of the cit(a). the disallowance made by the ao is thus restored.4. ground no. 2 in asst. yr. 1991-92 and ground no. 1 for the asst. yr.1992-93 pertain to the disallowance made by the ao under s. 40a(9) of the act. facts in short are .....

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