case of seized assets, there is a specific provision made for seeing that the assets are not retained beyond the period of 90 days after ... cannot be construed as showing that the authorised officer can subject the assets to attachment for an indefinite period of time. It is not possible
Deputy Commissioner Of Income-Tax,, vs Daimler Chrysler India Pvt. Ltd.,, Pune on 8 August
Shanti Builders vs Joint Cit on 21 October, 2002
Equivalent citations: (2004)88TTJ(PUNE)519
year prior to the date of transfer of
capital asset. The installments paid by assessee beyond the period of
one year before the date ... date on which
the capital asset is transferred. In the present case, undisputedly,
the assessee had transferred capital asset on 11.05.2011 and entered
into
assessee's case the first condition is satisfied beyond doubt as the assets,
i.e. the three windmills have been previously used by Snowcem ... device to avoid tax he can go beyond the
contract and ascertain the actual cost of the asset for the purpose of allowing
depreciation
issue of
notice u/s 148 of the Act to be extended beyond three years till ten years is that the
Assessing Officer should have ... issued beyond a period of three
years and since the Assessing Officer does not have any evidence in his possession
of any asset which represents
issue of
notice u/s 148 of the Act to be extended beyond three years till ten years is that the
Assessing Officer should have ... issued beyond a period of three
years and since the Assessing Officer does not have any evidence in his possession
of any asset which represents
within period of one year before date of sale of original asset and
16
ITA No.1563/PUN/2024
covenants in sale deed executed ... claim deduction u/s 54F even if new asset was registered in name of assessee
beyond the prescribed period.
19. Referring to the decision
submitted that
bills for assets purchased, proof of installation, date of installation,
date from which the asset have been used for the purpose of business ... only when ownership and use of assets for the purpose of
business of the assessee has been proved beyond doubt by the assessee
different types of "assets", namely, a 'trading asset and a 'capital asset. The
distinction between them cannot be glossed over ... account. Further, the assessee cannot prepare trading account for
capital assets which goes beyond the basic concept of accountancy and provision
of the law, hence
