Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1990)34ITD258(Ahd.)
1. This appeal is directed against the order of the Commissioner of Income-tax, Gujarat-II, Ahmedabad dated 18-2-1987 under Section 263 of the Income-tax Act, 1961 (the Act).2. On going through the records of assessment for the A.Y. 1982-83, the learned C.I.T. felt satisfied that the assessment order as passed by the ITO under Section 143(3) of the Act in the instant case was erroneous as well as prejudicial to the interest of Revenue as the ITO had made the assessment without examining the nature and character of the appellant trust and also without finding out whether the income was assessable in the hands of the appellant-trust or its beneficiaries or the settlor or the trustee. The learned CIT was, prima facie, of the opinion that in view of clause II of the trust deed the beneficiaries were indeterminate and, therefore, the trust should have been treated as a discretionary trust and maximum marginal rate should have been applied to it. The learned CIT was further of the opinion t...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1990)34ITD183(Ahd.)
1. The short and simple common question involved in both these appeals by the assessee is whether penalty is for defaults, contemplated Under Section 271(1)(a) and 273(1)(6) of the Income-tax Act, 1961 (the Act) maybe imposed upon a dead person in his own name without bringing his legal representatives on record. This question, having been answered in the affirmative by the income-tax authorities, has been posed before us by the appellant who is the son and legal representative of the dead person.2. The undisputed available facts are that late Shri Sanabhai Ranchhodbhai Dalwadi (hereinafter referred to as the deceased) was earning income from plying truck, share profits from certain partnership firms, property, interest and dividends. He was not an income-tax assessee. He had not filed any return of his income for the asst. year 1980-81, which is under consideration. Forming the opinion that the income of the deceased for the accounting period relevant to asst. year 1980-81 had escape...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1990)34ITD355(Ahd.)
1. In this appeal issues for consideration arise in the context of penalty levied Under Section 271(1)(a) of the I.T. Act, 1961 (the Act).2. The assessee is a registered firm and the assessment year involved is 1982-83. The assessee was to file its return of income by 30th June, 1982 but it was filed on 12-10-1982 with a delay of 15 months. The ITO initiated penalty proceedings Under Section 271(1)(a) which the assessee-firm resisted on the grounds that: (i) as its accountant had constancy been ill the accounts were not finalised; (ii) extension up to 30-9-1982 had been prayed and (jv) tax paid in advance exceeded the tax assessed.3. In the penalty order the ITO dealt with the ground relating to the sickness of the assessee's accountant and held that the same ground had also been raised by the assessee in respect of the late filing of the return for A.Y. 1977-78 onwards and, therefore, that was not acceptable. He made no comments on ground Nos. (ii) & (iii) above and levied penalt...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1990)34ITD216(Ahd.)
1. Both these appeals, directed against the consolidated order of the CIT (A), Rajkot dated November 28,1986, are hereby disposed of by this common order.2. The assessee-appellant is a registered firm running an oil mill known as Tilak Oil Mills at Veraval. Its head office is at Veraval. Its processing plant is at Kandla. The assessee-firm has its branch at Bombay also. It also works as a reseller in oil, oil seeds, pulses, etc., on wholesale basis. The assessment years involved are 1980-81 and 1981-82.3. For the A.Y. 1980-81, the assessee claimed investment allowance Under Section 32A of the IT Act, 1961 (the Act) at Rs. 1,01,943 in respect of the new plant and machinery installed at Veraval at Rs. 41,454 and at Kandla project at Rs. 3,66,315. A similar claim was made for A.Y. 1981-82 for Rs. 22,772 in respect of plant and machinery installed at Kandla project. The ITO allowed the assessee's claim for Rs. 10,364 for the new machineries installed at Veraval at the cost of Rs. 41,454 b...
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