1961 Sections 68 - Judgment Search Results

Gorakhpur Petro Oils Ltd. Vs. Additional Commissioner of

Court: Income Tax Appellate Tribunal ITAT Allahabad

Reported in: (2005)95TTJ(All.)489

challenged the assessment for the block period completed under the provisions of Chapter XIV-B of the IT Act, 1961 (hereinafter called the Act).2.1. The assessee has listed as many as 11 grounds of appeal in the original … of such previous years determined-- (2) In computing the undisclosed income of the block period, the provisions of Sections 68, 69, 69A, 69B and 69C shall, so far as may be apply and references to "financial year" in

income Tax Officer Vs. Janak U. Bhatt

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2006)101TTJ(Mum.)337

the Hon'ble Bombay High Court observed as under: The officers mentioned in Section 131(1) of the IT Act, 1961, viz., the ITO, AAC, IAC, CIT(A) and CIT are conferred with the same powers as are vested in … on a solitary ground that CIT(A) has erred in deleting the addition of Rs. 5 lakhs made under Section 68 on account of unproved loan taken from M/s Equinox Assets & Capital Management (P) Ltd. and the

Sahara India Savings and Investment Vs. Asstt. Cit

Court: Income Tax Appellate Tribunal ITAT Lucknow

Reported in: (2004)90TTJLuck878

to challenge the order of learned Commissioner (Central), Kanpur, dated 22-3-1999, passed under section 263 of IT Act, 1961, (hereinafter referred to as the 'Act') on various grounds. Before dealing with the issues involved in the grounds … assessee has filed this appeal to challenge the order of learned Commissioner (Central), Kanpur, dated 22-3-1999, passed under section 263 of IT Act, 1961, (hereinafter referred to as the 'Act') on various grounds. Before dealing with the … the revenue inasmuch as no addition was made by him under section 68 of the Act for ingenuine and unverified deposits. The assessee was required

Kanhaialal Jangid Vs. Assistant Commissioner of Income Tax

Court: Rajasthan

Reported in: (2008)217CTR(Raj)354

Other additions challenged by the assessee in this appeal are sustained. No costs. Head Note: INCOME TAX ACT, 1961 . Income from undisclosed sources - Addition under Section 68Burden of proof discharged by assessee--Assessee alleged to have … the assessee, and make additions of such deposits as income of the assessee from undisclosed sources by invoking Section 68 of the IT Act, unless it can be shown by the Department that the source of such

The Commissioner of Income Tax Vs. Sunil Aggarwal

Court: Delhi

22. The appeal is dismissed, but in the circumstances, with no order as to costs. Income Tax Act, 1961 €“ Section 68, Section 132(4) €“ Assessment Order €“ Legality of Addition €“ In assessment order, certain sum … The case of the Revenue is that despite notice issued on 30th September 1996 to the Assessee under Section 158BC of the Act, requiring him to file a return of total income including the undisclosed income for

Aalok Khanna Vs. Commissioner of Income-tax, Bhopal

Court: Madhya Pradesh

consideration now in the proceedings. 16. Accordingly, finding no ground to interfere, the appeal stands dismissed. Income-tax Act, 1961 - Section 68 - Cases Referred: CIT v. P. Mohanakala [2007] 291 ITR 278/161 Taxman 169 (SC) Rajeev … 1. This is assessee's appeal under section 260-A of the Income Tax Act, calling in question tenability of an order-dated 5.1.2010, passed by the Income

Yamuna Synthetics (P) Ltd. Vs. Dy. Cit

Court: Delhi

Reported in: (2004)91TTJ(Del)69

as allowed. In the ITAT, Delhi 'A' Bench R.K. Gupta, J.M. & G.S. Pannu, A.M. Income Tax Act, 1961, section 68; In favor of: assessed - - The assessing officer was not satisfied with the Explanationns furnished … from one M/s Sumit Polymers Ltd. During the course of the impugned assessment proceedings, commenced in terms of section 148, the assessed was asked to explain the nature and genuineness of the impugned loan. The assessed could

Cit Vs. Meghdoot Village Products (P.) Ltd.

Court: Allahabad

Reported in: (2007)212CTR(All)484

matter is remanded to the Commissioner (Appeals) and it may be decided expeditiously. Head Note: INCOME TAX ACT, 1961 . Income from undisclosed sources--Addition under Section 68Creditworthiness of creditors--AO found cash credit of Rs. 3,43,007 in assessee|s … of Rs. 3,43,007 on account of addition of cash credits under Section 68, without appreciating that the assessee had failed to discharge its onus that … ORDER1. This is an appeal under Section 260A of the Income Tax Act challenging the order passed by Income Tax Appellate Tribunal dated 20-7-2005. The

The Commissioner of Income Tax and the Income Tax Officer Vs. Mahakute ...

Court: Karnataka

Reported in: (2008)215CTR(Kar)262; ILR2008KAR1832; [2008]298ITR390(KAR); [2008]298ITR390(Karn); 2008(1)KCCR329; 2008(2)AIRKarR77

result, we do not see any merits in this appeal. Accordingly, the appeal is dismissed. Income Tax Act, 1961 - Section 143(1)(a)--Return filed by the assessee--Process of--Section 255--Powers and function of the Appellate Tribunal--Section 2(7A)--Definition of Assessing … findings of the appellate Commissioner when the assessee failed to discharge the burden of proof as required under Section 68 of the Income Tax Act?2. The assessee is a manufacturer of edible oil. For the assessment year

Girish Mishra Vs. Asstt. Cit

Court: Allahabad

Reported in: (2004)91TTJ(All)643

for the Revenue. In the ITAT, Allahabad Bench P.S. Kalsian, A.M. & Bhavnesh Saini, J.M. Income Tax Act, 1961, section 68, In favour of: Assessee - LAND ACQUISITION ACT, 1894 [C.A. No. 1/1894]. Section 4; [Sushil Harkauli, … under section 269SS and 68 are on different footings, therefore, no proceedings could be held in both the sections against the assesse in the same assessment year. The learned counsel for the assessee has also referred to