Income Tax Appellate Tribunal Itat Delhi Court April 2005 Judgments Home Cases Income Tax Appellate Tribunal Itat Delhi 2005 Page 1 of about 11 results (0.053 seconds)

Assistant Commissioner of Income Vs. British Airways

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)95TTJ(Delhi)980

1. All these four appeals are by the Department for financial years 1994-95 and 1995-96. ITA Nos. 4009 and 4011/Del/2004 are in respect of the order under Section 201(1) of the IT Act, 1961 (the Act). ITA Nos.4008 and 4010/Del/2004 are in respect of orders under Section 201(1A) of the Act. Since a common issue is involved in all the four appeals, we find it convenient to dispose all of them together by this combined order.2. In the appeals relating to orders under Section 201(1) of the Act, the following two grounds have been raised : "1. On the facts and in the circumstances of the case, the learned CIT(A) has erred in holding that the reasons advanced by the appellant for not deducting tax at source appeared bona fide. 2. On the facts and in the circumstances of the case, the learned CIT(A) has erred in deciding that the demand raised against the appellant on account of non-deduction of tax at source will stand deleted if payments made by the appellant to the hotel have been include...

Shiv Cable and Wire Industries Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)99TTJ(Delhi)106

1. This appeal has been filed by the assessee on 5th Jan., 2004, against the order of the learned CIT(A)-XXIV, New Delhi, dt. 24th Nov.2003, in the case of the assessee in relation to assessment order under Section 143(3) for asst. yr. 2000-01.2. Main dispute in this appeal is directed against the addition of a sum of Rs. 3,02,50,000 made by the AO under Section 68 in respect of cash credits in the name of Kamlesh Steel (P) Ltd. Facts of the case leading to this ground of appeal, briefly, are that during the course of assessment proceedings, the learned AO noted that there was a credit balance of Rs. 11,27,40,000 appearing in the books of account of the assessee in the name of Kamlesh Steel (P) Ltd. The learned AO noticed that the opening balance in this account was Rs. 8,24,90,000 and during the period 30th July, 1999 to 16th Aug., 1999, the assessee received further amounts by way of cheque Nos. 352210 to 352221 of the value of Rs. 3 crores and another cheque No. 470216 for Rs. 2,50...

Piccadily Holiday Resorts Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)94ITD267(Delhi)

1. This appeal by the assessee company is directed against the order of learned CIT(A)-XVII, New Delhi dated 11/11/2002 and the only issue arising from the grounds raised therein relates to its claim for deduction on account of commission paid to property agent in computation of income from house property which has been disallowed by the authorities below.2. The assessee in the present case is a company deriving income from its hotel business as well as income from house property. A return of income was filed by it for the year under consideration declaring a total income at Rs. 9,44,390/- which was inclusive of income declared under the head "income from house property" amounting to Rs. 3,90,409/-. During the course of assessment proceedings, it was noticed by the Assessing Officer that the assessee company has claimed deduction of Rs. 16,54,000/- on account of commission paid in computation of its income under the head "income from house property".He, therefore, required the assesse...

Dhiraj Suri Vs. Addl. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

This appeal by the assessee is directed against the order of the Commissioner (Appeals) by which he confirmed the penalty of Rs. 6,51,982 imposed under section 158BFA(2) of the Income Tax Act.The appeal arises this way. There was a search of the assessee's premises on 7-8-1997. Pursuant to the search, the assessing officer called upon the assessee to file the return of income. In response thereto, the assessee filled the block return on 18-8-1999 declaring undisclosed income of Rs. 7.5 lakhs. He completed the block assessment on 31-8-1999, determining the undisclosed income at Rs. 11,42,796.There was an appeal by the assessee against certain additions other than the surrendered amount of Rs. 7.5 lakhs as a result of which the total undisclosed income was reduced to Rs. 10,86,637. There was no further appeal by either side. After competing the block assessment, the assessing officer initiated penalty proceedings under section 158BFA(2) of the Act. The assessee submitted by way of expla...

Shri Dhiraj Suri Vs. Addl. Cit, Sr-1

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)98ITD187(Delhi)

1. This appeal by the assessee is directed against the order of the CIT(A) by which he confirmed the penalty of Rs. 6,51,982 imposed Under Section 158BFA(2) of the Income-tax Act.2. The appeal arises this way. There was a search of the assessee's premises on 7.8.87. Pursuant to the search, the AO called upon the assessee to file the return of income. In response thereto, the assessee filed the block return on 18.8.99 declaring undisclosed income of Rs. 7.5 lacs. He completed the block assessment on 31.8.99, determining the undisclosed income at Rs. l1,42,796. There was an appeal by the assessee against certain additions other than the surrendered amount of Rs. 7.5 lacs as a result of which the total undisclosed income was reduced to Rs. 10,86,637. There was no further appeal by either side. After competing the block assessment, the AO initiated penalty proceedings Under Section 158BFA(2) of the Act. The assessee submitted by way of explanation that she had filed the return of income o...

Saw Pipes Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)94TTJ(Delhi)1036

1. In this appeal the assesses challenges the action of the learned CIT(A)-III, Delhi, in setting aside the order of the AO/Addl. CIT, Range 7, for the asst. yr. 2000-01.2. The facts of the case are that the assessment of the case was framed by the Addl. CIT, Range 7, vide his order dt. 31st March, 2003, computing the assessable income at Rs. Nil with unabsorbed depreciation Rs. 12,38,53,171 to be carried forward as against the claim of Rs. 16,85,15,018. This order was subjected to appeal on various issues before the learned CIT(A)-10, Delhi, who took decision vide his order dt. 7th Aug., 2003. On 31st Jan., 2004, appellant received a show-cause notice dt. 30th Jan., 2004, from learned CIT, Delhi-Ill. In the said notice the learned CIT expressed as to why the assessment made by the AO be not held as erroneous and prejudicial to the interest of Revenue for the following reasons : (i) Exemption under Section 10(33) was claimed by you in respect of the dividend income amounting to Rs. 46...

Assistant Commissioner of Income Vs. Mrs. Rekha Mathur [Alongwith Ita

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)98TTJ(Delhi)900

1. These are appeals by the Revenue against the common order dt. 1st May, 1998; of CIT(A)--Assessee, New Delhi, relating to asst. yr.1994-95.2. The first ground of appeal in these appeals which is a common ground in all the three appeals reads as follows: "On the facts and circumstances of the case, the learned CIT(A) has erred in law and on facts in not following the valuation report in respect of property No. N-117, Panchsheel Park, New Delhi." 3. The facts and circumstances under which the aforesaid ground of appeal arise are as follows. One Mr. R.K. Mathur was the owner of l/3rd share of the property, bearing No. N-119, Panchsheel Park, New Delhi, hereinafter referred to as 'the property'. On his death on 6th May, 1991, his wife, Mrs. Rekha Mathur, (the assessee in ITA 3984/Del/1998) and. his two daughters Ms. Deepti Patni and Ms. Aditi Sharma (assessees in ITA 3986/Del/1998 and ITA 3985/Del/1998, respectively) became entitled to a l/3rd share each in the l/3rd share of Mr. R.K. M...

Deputy Commissioner of Income Tax Vs. Sahara Airlines Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)96TTJ(Delhi)969

1. ITA No. 142/Del/2001 and ITA No. 1143/Del/2001 are appeals by the Revenue against the common order dt. 5th Dec., 2000, of CIT(A)-V, New Delhi, relating to asst. yrs. 1998-99 and 1999-2000, respectively. The assessee has filed cross-objections which are merely supportive of the said order of CIT(A).2. The ground of appeal of the Revenue in both their appeals, which is a common ground, reads as follows : "On the facts and circumstances of the case, the learned CIT(A) has erred in directing the AO to exclude the payments of AMTEC, MAS and Lufthansa during financial years 1997-98 and 1998-99 amounting to Rs. 2,19,55,198 from the computation of short deduction." 3. The facts and circumstances under which the aforesaid ground of appeal arises are as follows : The assessee is a company incorporated in India, which is engaged in the business of running aircrafts for carriage of passengers. Some of the aircrafts, run by it are owned by it whereas the others are taken by it on lease from var...

Balka Services (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)102TTJ(Delhi)115

1. This appeal by the assessee is directed against the order of learned CIT(A)-V, New Delhi, dt. 6th Sept., 2004, whereby he confirmed the penalty of Rs. 17,69,045 imposed by the AO under Section 271(1)(c).2. The relevant facts of the case giving rise to this appeal are as follows. The assessee is an investment company engaged in the business of sale and purchase of shares and securities for earning dividend income as well as profit. During the year under consideration, another company, namely, M/s Bhagwan Dass Agro Industries (P) Ltd., was merged with the assessee-company pursuant to an order passed by the Hon'ble Delhi High Court on 14th March, 2000. The said merger was made effective from 1st April, 2000. Since the assessee-company had already filed the petition for merger w.e.f. 1st April, 2000, it claimed the carry forward of business loss and long-term capital loss of the merging company, i.e., M/s Bhagwan Dass Agro Industries (P) Ltd., in its return of income for the year under...

Assistant Cit, Cc 1(5), New Delhi Vs. Ganapati Finance Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)9SOT264(Delhi)

This appeal has been filed by the revenue against the order dated 16-7-1998 of the learned Commissioner (Appeals)-I, New Delhi pertaining to the assessment year 1995-96."On the facts and in the circumstances of the case, the Commissioner (Appeals) has erred both on facts and in law: (i) in deleting disallowance of Rs. 30,00,037 out of depreciation claimed on leased out LPG Cylinders.(a) despite the fact that the assessing officer had clearly established such a lease transaction to be a sham transaction and (b) despite the fact that the Director of M/s. Aravalli Cylinders P.Ltd. (from whom the assessee has claimed to have purchased the said LPG Cylinders) had categorically denied to have sold such cylinders to the assessee.(ii) in deleting the disallowance of Rs. 19,99,440 out of depreciation claimed on leased out Air Jet Spindle Assembly and Positar Disc.(a) Despite the fact that the assessee could not produce any evidence Ito prove the genuineness of such a transaction.(b) Despite th...