Search Results Page

Search Results

1 - 10 of 11 (0.51 seconds)
Oriental Hotels Ltd., Chennai vs Department Of Income Tax on 31 July, 2007 cites

Commissioner Of Income-Tax vs K. Ravindranathan Nair on 30 July, 1984

4. In regard to grounds No. 2.1 to 2.4 it was submitted by the learned DR that the assessee is in the business of operating hotels. It was the submission that when computing the deduction u/s. 80HHD of the Income Tax Act, 1961, the Assessing Officer had included the guarantee commission received by the assessee as also the operating receipts in the total turnover. It was the submission that the guarantee commission was on account of the commission received by the assessee for the guarantee given by the assessee to M/s. Taj Maldives Pvt. Ltd. and the operating fee was the receipts received by the assessee for the technical and management services rendered by the assessee in regard to the operation of the hotel owned by M/s. Taj Maldives Pvt. Ltd. It was the submission that M/s. Taj Maldives Pvt. Ltd which included permission to use the "Taj" brand name, deputing trained employees, assisting in policy making, budgetary control and institution of control and monitoring mechanisms. It was the submission that the guarantee commission and the operating fees received by the assessee were business receipts and consequently the same were liable to 5 I.T.A. Nos. 1974/Mds/2008& 2314/Mds/07 be included in the total receipts of the business. It was the submission that as per the provisions of section 80HHD(3) what is provided is the total receipts of the business carried on by the assessee and as the guarantee commission and the operating fee received by the assessee were in the nature of receipts of the business and was earned in the course of the business of the assessee, the same were liable to be treated as part of the turnover. It was the submission that the learned CIT(A) erred in holding that the same was excludable in view of the decision of the Hon'ble Supreme Court in the case of CIT v. K. Ravindranathan Nair reported in 295 ITR 228. It was the submission that the learned CIT(A) has misinterpreted the decision of the Hon'ble Supreme Court in the case of K.Ravindranathan Nair to say that the receipts entitled for the incentive deductions must have a close and immediate nexus to the activity eligible for deduction. It was the submission that the decision of the Hon'ble Supreme Court in the case of K. Ravindranathan Nair did not hold that such receipts was excludable from the total turnover. It was the submission that as per the said Supreme Court decision for the purpose of working out the formula and in order to avoid distortion in arriving at the export profits clause (baa) stood inserted to say that although incentive profits and independent incomes constituted part of the gross total income, they had to be excluded from gross total income because such receipts had no nexus with the export turnover. It was the submission that for the purpose of section 80HHD(3) the wordings were 6 I.T.A. Nos. 1974/Mds/2008& 2314/Mds/07 "bear to the total receipts of the business carried on the assessee" and not "the total turnover". It was the submission that the order of the learned CIT(A) was liable to be reversed.
Kerala High Court Cites 21 - Cited by 37 - T K Thommen - Full Document

Commissioner Of Income-Tax vs Anjani Kumar And Co. Pvt. Ltd. on 6 May, 1996

It was the submission that the learned CIT(A) had by relying upon the decision of the Hon'ble Madras High Court in the case of Seshasayee Paper And Boards reported in 243 ITR 421 as also the decision of the Hon'ble Rajasthan High Court in the case of CIT v. Anjani Kumar Compnay Limited reported in 259 ITR 114 directed the Assessing Officer to allow the loss as a revenue expenditure. It was the submission that the expenditure incurred by the assessee was capital in nature insofar as it was towards the soil testing and architect fee for the putting up of a building and consequently same was liable to be held as a capital expenditure and the loss thereon as a capital loss.
Rajasthan High Court - Jaipur Cites 4 - Cited by 49 - Full Document

The Triveni Engg. Works Ltd. vs Dy. Commissioner Of Income Tax, Special ... on 5 July, 2003

In the light of the facts of the case, having regard to the decision of the Hon'ble Madras High Court in the case of E.I.D. Parry (I) Ltd. v. CIT (257 ITR 253) and the decision of the Hon'ble Delhi High Court in the case of Triveni Engineering Works Ltd. v. CIT (232 ITR 639), the learned CIT(A) ought to have upheld the action of the Assessing Officer."
Income Tax Appellate Tribunal - Delhi Cites 28 - Cited by 115 - Full Document
1   2 Next