Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Aug-22-2007
Reported in : (2007)111TTJ(Mum.)402
..... precedent have to be satisfied. accordingly, where the premises of a director of a company and his wife were searched under section 132 of the it act, 1961, and a block assessment had to be done in relation to the company, the ao had to (i) record his satisfaction that any ..... upon mrs. shobha ahuja and some seized materials were found. the ao of mrs. shobha ahuja framed the block assessment under section 158bc of the it act and made certain additions on the basis of the seized materials. at the time of framing of the block assessment under section 158bc, the ao ..... of mrs. shobha ahuja has written various letters in this regard, it amounts to proper satisfaction before invoking the provisions of section 158bd of the act.7. we have heard the rival submissions and carefully perused the orders of the lower authorities and the documents placed before us.8. undisputedly, ..... , the learned counsel for the assessee has challenged the validity of the block assessment framed under section 143(3) r/w section 158bd of the it act at the threshold, for the reasons the provisions of section 158bd were not invoked in accordance with law. before invoking the provisions of section 158bd ..... 670 : (2004) 91 itd 118 (bang)(sb); (iii) sakun international v. jt. cit (2005) 96 ttj (del) 496 : (2005) 94 itd 138 (del); (iv) janki exports international through s.p. gupta v. union of india (2005) 193 ctr (del) 730 : (2005) 145 taxman 82 (del).6. the learned departmental representative on the other hand has submitted .....Tag this Judgment!
Court : Karnataka
Decided on : May-08-2007
Reported in : ILR2007KAR2497; 2007(5)KarLJ157
..... grounds urged in the writ petitions pertaining to colorable legislation. section 5 being unguided and unbridled, there is no power under section 5 of the 1998 act for the state to declare ban of lotteries of other states within its territory is concerned, as rightly submitted by the learned advocate general all the grounds urged by the petitioners touching upon the constitutional ..... -a is violative of articles-14 19(1)(g), 301 to 304 of the constitution of india insofar as it declares the state of karnataka as lottery free zone under section 5 of the 1998 act and is amenable to judicial review?iii) whether the impugned notification annexure-a is unsustainable in law for want of application of principles of natural justice ..... direction declaring that the notification dated 27.3.2007 bearing no. fd 22 saula 2006 issued by the 2nd respondent under section 5 of the lotteries (regulation) act, 1998 (annexure-a) declaring the state of karnataka as a lottery free zone as unauthorised, illegal, incapable of implementation and inoperative in law;(b) issue a writ, direction or order in the nature of certiorari ..... and ors. reported in 2005 vol. i 623, the supreme court dealing with issue concerning the legality of the government order directing discontinuance of purchase of tax exemption in the form of annual subsidy towards the purchase of sugarcane, made the observations at paragraphs 14 and 21 thus:14. as was observed in punjab communications ltd. v. union of india the change in .....Tag this Judgment!
Court : Allahabad
Decided on : Oct-24-2007
Reported in : 187TAXMAN220(All)
..... appeal irrespective of revenue involved.30. in contra, the learned counsel for the assessee submits that since the question of taxability of prize money won in the lottery of sikkim government to tax under the income-tax act, 1961 for the assessment year prior to 1990-91 has been set at rest by the bombay high court in nirmala l. mehta's case (supra ..... . chaman lal :  156 itr 245 :  26 taxman 634 a division bench of punjab and haryana high court on consideration of various sections of the income-tax act including section 5(1), with reference to lottery income earned by the assessee on a lottery ticket of sikkim government, held as follows:after hearing the learned counsel for the parties and on consideration of the ..... on the issue involved in the appeal. the bombay high court has held that lottery income earned in the assessment year prior to assessment year 1990-91 on a lottery of sikkim government is not taxable under the income-tax act, 1961. a contrary view has been taken by the punjab and haryana high court. on a careful consideration of the aforesaid two decisions and ..... and customs which place a different interpretation upon the said phrase, that interpretation will be binding upon the revenue.18. recently the apex court in commissioner of trade tax v. kajaria ceramics ltd. : 2005 (6) jt (sc) 28 repelling the argument of the assessee therein based on the aforesaid judgment of the supreme court in the case of dhiren chemicals industries (supra .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : May-31-2007
..... power equip, (supra) as discussed hereinabove. with regard to the amendment brought in by the taxation laws (amendment) act, 2005, which received the assent of president of india on 28th december, 2005, therefore could not be considered by cit qin his order dated 30th march, 2005, we direct the assessing officer of recompute the deduction under section 80hhc in accordance with the amended provisions as ..... amended provisions/after insertion of second, third, fourth and fifth proviso by the taxation laws (amendment) act, 2005. with regard to admissibility of duty draw- back for deduction under section 80-ib, the issue is squarely covered by the decision of hon'ble delhi and punjab & haryana high courts in favour of revenue as discussed above. same analogy can be very safely applied ..... for admissibility of subsidy received from dic for computing deduction under sections 80-ib and 80hhc, and can be treated as covered by the decision of hon'ble delhi and punjab & haryana high courts in favour of revenue, as discussed above. with regard to allowability deduction on interest, we direct the assessing officer to follow the principles as laid down in ..... deduction is permissible under section 80hhc.we thus direct the assessing officer to recompute the deduction under- section 80hhc and 80-ib keeping in view the verdict of delhi and punjab & haryana high courts as discussed above. we direct accordingly.16. in the result, appeal of the assessee is allowed in part as indicated hereinabove. .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Lucknow
Decided on : Jun-29-2007
Reported in : (2008)117TTJLuck549
..... be treated as a valid return.we are supported in our view by the decision of hon'ble allahabad high court in parvati devi v. cit 1970, 75 itr-625, (alld) of hon'ble punjab & haryana high court in auto metal engineers v. union of india and also the decision in r.k. chawla's case and mohd. ..... such return as it is non-est. he relied on the decision of special bench of i.t.a.t. in raj kumar chawla's case reported in (2005) 94 itd-01 (sb) for the proposition that section 143(2) is applicable to a valid return and not to an invalid return. he also relied on ..... to him, it could not hove been said that the "credits" represented "undisclosed income" of the appellant, within the meaning of section 68 of the act. 5.1 because the learned cit(appeals) had erred in law and on facts in upholding the following disallowances:-(a) rs. 5,000 : out of factory expenses claimed at rs. 14, ..... assessed the taxable income at rs. 7,87.789 instead, making an addition of rs. 7,23,889 after making adjustments under section 143(l)(a) of the act.as per the adjustments explanatory sheet, appended to the intimation, the assessing of(sic) r recomputed the taxable income at the rate of 40 per cent of the ..... a particular income falls under the head "business income" or "income from other sources". the assessee was only sent an intimation under section 143(1) of the act and the question of examination of the material by the assessing officer did not arise at that stage. thus, there was no question of change of opinion. the .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Oct-19-2007
Reported in : (2008)115TTJ(Delhi)906
..... . we have considered rival contentions. with regard to learned cit(a)'s action for not allowing deduction with reference to the incentive received by the assessee and claimed under proviso to section 80hhc(3) we found that because of the insertion of 5th proviso to section 80hhc(3) by taxation laws (amendment) act 2005, with retrospective effect from 1st april, 1998, the assessee ..... -1 is not allowable on the amount of duty drawback. similar view has been taken by hon'ble delhi high court in case of cit v. ritesh industries . in case of nahar exports ltd. v. cit , hon'ble punjab & haryana high court held that deduction under section 80-ia is not eligible on income from sale of import licenses. hon'ble madras high ..... court in the case of cit v. jameel leathers & uppers held that cash assistance, duty drawback and import license nomination premium is not eligible for deduction ..... under sections 80hh and 80j of it act, 1961. no contrary decision .....Tag this Judgment!
Court : Customs Excise and Service Tax Appellate Tribunal CESTAT
Decided on : Jan-12-2007
Reported in : (2007)(117)ECC278
..... haryana v. dalmia dadri cement ltd. 1988 (14) ecr 292 (sc). the supreme court was construing the following clause in section 5(2)(a)(iv) of the punjab general sales tax act - 5(2). in this act the expression 'taxable turnover' means that part of the dealer's gross turnover during any period which remains after deducting therefrom - (iv) sales to any undertaking supplying ..... . (supra). the benefit of the notification in that case was to be extended for the goods required for manufacture of goods falling under heading 85.42 of central excise tariff act, 1985. in that decision, initially there was difference of opinion, the technical member held that "required for manufacture" should be interpreted to mean that they should be actually used in ..... use by it in the generation or distribution of such energy:... the submission on behalf of the state of haryana was that in order to get the benefit of the exemption, it was required that it should be established before the tax authorities that the cement supplied by ..... electrical energy to the public under a licence or sanction granted or deemed to have been granted under the indian electricity act, 1910 (ix of 1910) of goods for .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Apr-25-2007
..... the capital gains arising on the sale of the said shares was claimed to be exempt by availing the deduction under section 54f of the income tax act on account of investment in another residential property during the years under consideration. the said exemption claimed by the assessee was denied by the assessing ..... which are used as cattle-sheds, is not fetching any income to the minors, and the proposed lease of the petition schedule property in favour of punjab state electricity board, on lease on a rental value of rs. 2,000 per year for the period of fifty years, fetches a lump sum ..... or occupied; that the petitioner is not getting any rents or income from those houses and sheds; that the property is within the compound of punjab state electricity board; that the property is not utilized for any other purpose....the district judge after consideration of the petition had held as under: ..... plot of land at harnala where no farm-house or any other house existed. the assessee further stated that the land at harnala was leased to punjab state: electricity board (pseb) and certain residential buildings have been put up by the board for its staff quarters. the assessee filed a letter dated ..... submissions.5. the brief facts of the case are that during the year under consideration, the assessee had claimed exemption under section 54f of the income tax act against income from capital gains on sale of shares of mahindra & mahindra ltd., amounting to rs. 1,52,18,000. the said exemption claimed .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Mar-08-2007
Reported in : 2007(210)ELT334(SC); JT2007(8)SC278; 2007(11)OLR(SC)206; 2007(4)SCALE196; (2007)3SCC659; 2007(1)LC430(SC); 2007AIRSCW2812
..... days from the date of such application failing which the petitioner will be entitled to interest at the rate mentioned in section 14-c of the orissa sales tax act, 1947 with effect from the date of expiry of the said period of ninety days.the high court, however, did not grant any interest in favour of ..... that by reason of a notification dated 22.12.1989, the state government in exercise of its powers conferred upon it under section 8 of the orissa sales tax act, 1947, notified 'iron and steel' to be taxable at the first point of sale, in a series of sale by successive dealers, when such sale ..... is effected by a dealer liable to pay tax under the act. it is also not in dispute that prior to issuance of the said notification the taxable event was the last purchase. it has not been denied ..... vires....16. in that case, the issue was as to whether the manufacturer of banaspati had set up an industry in the state of punjab, on the assurance that the sales tax amount actually collected by it from the ultimate purchasers, would be refunded to it by way of incentive, can be enforced by a court ..... of mr. vellapally based on the decision of this court in amrit banaspati co. ltd. and anr. v. state of punjab and anr. : 1992(59)elt13(sc) that although the respondent was entitled to exemption from payment of tax, it was not entitled to any refund. in amrit banaspati (supra), this court held:11. exemption from .....Tag this Judgment!
Court : Delhi
Decided on : Nov-01-2007
Reported in : 2007(4)ARBLR470(Delhi); 2007(99)DRJ610
..... petitioner's work was limited to placement of reinforcement and concrete which was supplied by rsd which was under the domain of the state of punjab. this placement was to be under the supervision and direction of the rsd authorities.3. petitioner could not start work in time as according to ..... for work of concreting behind gate control and junction reach including transition zone of tunnels p1 and p2 of ranjit sagar dam at shahpurkhandi near pathankot, punjab, respondent awarded this work to the petitioner vide letter no. dl1/con/tec/226/66 dated 6.5.1996 for a sum of rs. ..... institution fails to perform any function entrusted to it under that procedure.17. this court in varun associates v. army welfare housing organisation : 2005(83)drj500 in similar circumstances when petitioner sought appointment of an arbitrator alleging that it had sent a letter to the respondent for appointment of ..... the power exercised by the court while considering an application under section 11(6) of the act are judicial in nature and not administrative one.9. in sbp & co. v. patel engineering ltd. and anr. (2005) 8 scc 618. it was observed:first of all, the power is conferred not on an ..... act') for appointment of an arbitrator as according to it, respondent failed to appoint arbitrator in terms of the arbitration agreement contained in the contract dated 6.5.1996.2. briefly narrated the case of the petitioner is that it is carrying on business under the name and style of kuljit singh & co. the state of punjab .....Tag this Judgment!