Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1996)56ITD168(Chd.)
..... agricultural produce of the members. in the present case, we are, however, confronted with different controversy.22. we put it to the id. counsel for the assessee to enlighten us as to how the ratio of decision of the supreme court in h.h. sir rama varma v. cit [1994] 205 itr 433, though in the context of section 80t of the income-tax act ..... as also the facts on record. the decision of the orissa high court in tarun udyog's case (supra), however, does not consider section 80ab of the income-tax act. same is the position with regard to karnataka high court decisions in the cases of h.m.t. ltd. (supra) and siddaganga oil extractions (p.) ltd ..... after allowing the deduction under section 32a as well. section 80ab, as noted above, talks of the income computed in accordance with the provisions of the income-tax act before making any deduction under chapter via. the nature of income mentioned under section 80ab, when viewed in the context of section 80hh, means profits and gains of business .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1982)2ITD203(Chd.)
..... a karta.he supported his contentions that a partner can bean employee of the firm by placing reliance upon the madras high court judgment in the case of commissioner of agricultural income-tax v. tipperary estates co. [1970] 76 itr 396.8. the revenue, on the other hand, contended that the nature of payment was decided by the ito as 'other sources' and ..... rs. 18,000 was shown by the assessee under the head 'salaries', and deduction under section 16(a) of the income-tax act, 1961 ('the act'), was claimed. the ito considered whether he should tax this amount under the head 'salaries' or under the head income from other sources'. according to him, the issue depended upon whether there was an employer and employee relationship between the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1990)33ITD62(Chd.)
..... amount standing to his credit on his joining, the same will constitute gains arising form a transacting amounting to transfer within the meaning of section 2(47) of the income-tax act. according to him, the assessee was liable to pay capital gains on the amount, he receive, over and above the value of his share in the firm. thus ..... firms to the assessee to get rid of him, as there were said to be some differences and it constituted capital gains taxable under the provisions of the income-tax act.8. submissions made on behalf of the contesting parties have been heard and record carefully perused. undisputed facts in this case are that a firm by the name ..... various kinds of agricultural implements, auto parts, cycle parts, tractor parts, etc. the accounting period was the year ending 31-3-1983 and the accounts were maintained on mercantile basis. return in this case was filed on 30-9-1983, declaring net income of rs. 14,514. it was noted by the by the learned income-tax officer during assessment .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)1SOT257(Chd.)
..... involved in these appeals is relating to computation of deduction under section 80g of the income tax act, 1961. the assessee is a co-operative society engaged in the activities of marketing and agricultural produce. it derives income which is partly taxable and partly enjoys deduction under section 80p of the income tax act, 1961. the assessee had claimed deduction under section 80g at the rate of 100 ..... was granted to the assessee. the learned counsel pointed out that under section 208, the assessee was required to pay advance tax on the current income and section 209 of the act provides that the assessee shall first estimate his current income and income-tax thereon shall be calculated at the rate in force in the financial year. the assessee had made a fair estimate of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)94TTJ(Chd.)307
..... of years, yet the assessee, for the first time, claimed deduction in respect of its income under section 80p(2)(a)(iii) of it act on the ground that the assessee was engaged in the activity of marketing of agricultural produce grown by its members. however, the ao noticed that the assessee was not engaged in ..... matter also stands decided against the assessee.relying on the judgment of hon'ble supreme court in the case of kerala state co-operative marketing fed. ltd v. cit (1998) 231 itr 814 (sc), learned counsel submitted that term 'marketing' includes search, transportation, processing and other commercial activities. thereafter, he drew our attention ..... its members and handing over marketable commodities to the purchasers and all the intermediate processes connected with the marketing of the agricultural produce of the members. the jurisdictional high court relied on the decision in cit v. karjan co-operative cotton sale ginning & pressing society ltd. (1981) 129 itr 821 (guj). it referred .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2004)88ITD272(Chd.)
..... income tax act.the relevant and material facts for the disposal of this ground of appeal are that on going through the assessment records, it was noticed that the assessee has filed a return declaring income of rs. 89,123 and apart from salary/income from the firm m/s. glory knitting industries and interest income from the bank, the assessee also reflected the agricultural income ..... observed as under:- "while examining the records of an assessment order, in exercise of powers of revision under section 263 of the income tax act, 1961, if the commissioner finds that the assessing officer had not initiated penalty proceedings, the commissioner cannot direct initiation of penalty proceedings ..... of delhi high court observing: "proceedings for levy of penalty, whether under section 271(1)(a) or section 273(b) of the income tax act, 1961 are proceedings independent of, and separate from the assessment proceedings. failure to initiate penalty proceedings would not give jurisdiction to the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)292ITR268(Chd.)
..... proportionate part of jama should be allowed. in the case of sachindia v. cit 5 itc 396, it was held that where a receiver is appointed by the court of estate yielding both agricultural and non-agricultural income, a proportionate portion of the receiving salary should be deducted in computing the non-agricultural income under section 56.35. similarly, in the case of establishment expenses incurred ..... -operative society engaged in the purchase of agricultural implements, seeds, livestock and other articles intended, for agriculture for the purpose of supplying them to its members as well as to non-members. for the asst. yrs. 1964-65, 1965-66 and 1966-67 the appellant claimed exemption from income-tax under section 81(i)(d) of the it act, 1961, on the gross profits and gains .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2000)243ITR50(Chd.)
..... of the accountant member and required to be dismissed ?" 1. the following point of difference was referred to me by the president for opinion under section 255(4) of the income-tax act, 1961 :- "whether, on the facts and in the circumstances of the case, the question proposed by the revenue in the reference application is a question of law referable to the ..... . the assessee was also dealing in other implements relatable to agricultural operations.4. the assessment was completed under section 143(3) on a total income of rs. 2,01,001 as against the returned income of rs. 1,94,136 vide order dated march 30, 1993. subsequently, the commissioner of income-tax, patiala, issued notice under section 263 to the assessee on february 6/9 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)93TTJ(Chd.)201
..... , the ao initiated proceedings under section 147 of the it act and assessed the agricultural income as claimed under the head 'income from other sources' and charged tax thereon. aggrieved with such orders of the ao, the assessee went in appeal before the cit(a).5. before the cit(a), the assessee challenged the orders of the ao ..... proceedings under section 147 and secondly, the orders of the ao treating the amount received by the assessee from sbchl as his income from other sources against the agricultural income claimed.6. the cit(a), after considering the facts of the case, held that so far as reopening of the case under section 147 was ..... basis of information and also working on the audit report as to the acceptance of the agricultural income under section 143(1)(a). since the treatment under the head the income from other sources against agricultural income involved substantial amount of tax, in our considered view, the ao had sufficient reasons to initiate reopening under section .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1986)15ITD42(Chd.)
..... nothing remains to be partitioned by the huf. under these circumstances, the objection on the point that only partial partition has taken place, should not prevail with the income-tax authorities.7. the learned departmental representative shri c.l. jain, on the other hand, beside relying on the orders of the two lower authorities, read out ..... of khasra nos. 1121 to 1126, situated at patiala ; the said huf had effected partition only of the properties at nos. (iv) and (v), i.e., agricultural land measuring 10 bighas 12 biswas, patiala and 181-182, madhya marg, sector 8, chandigarh. originally the partition was effected on 10-2-1980 orally and, subsequently, ..... restraints as per rule 14 of the chandigarh (sale of sites and buildings) rules, framed under section 22 of the capital of punjab (development and regulation) act, came in the assessee's way because no fragmentation of any site or building could be permitted. all these restrictions and restraints were equally applicable to another .....
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