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Commissioner of Income-tax Vs. Premchand JaIn (Legal Representative of ...

Court : Guwahati

..... and, on a consideration of the same we are of the clear opinion that, in the instant case, the assessee had disclosed fully and truly all material facts necessary for the purpose of assessment for the two assessment years at the time of the original assessment and, as such, the income-tax officer had no jurisdiction to initiate proceedings under section 147(a) of the act for reassessment. ..... it appears that the tribunal, on consideration of the facts of the case, arrived at a finding that for the assessment year 1958-59 wherein the assessee had borrowed certain amounts from different parties, he filed confirmatory letters, copies of accounts, interest paid to the parties, copy of profit and loss ..... far as the investment in the construction of the house at delhi in the assessment year 1959-60 is concerned, the tribunal observed that there was a discussion in the original assessment itself regarding the construction of the house by the assessee at ansari road, ..... our consideration in this case is whether the tribunal was correct in holding that the reassessment proceedings under section 147(a) of the act for the two assessment years, namely, assessment years 1958-59 and 1959-60, were not valid in law. 11. ..... the tribunal considered the rival submissions and found that, during the assessment year 1958-59, the assessee borrowed various amounts from several parties in support of which he filed confirmatory letters, copies of the accounts, interest paid to the parties, copy of profit and loss .....

Vinod Trading Co. Vs. State of Assam and ors.

Court : Guwahati

..... -petitions relates to reassessment of tax under section 18(1) of the assam general sales tax act, 1993 (hereinafter referred to as 'the act') on account of claimed escapement of turnover of the petitioner at the time of initial assessment for the assessment year 1994-95, the statutory appeals having failed, the petitioners have invoked the writ jurisdiction of this court. ..... according to them, there was no tangible material for the assessing officer to believe that the turnover of sale of onion vis-a-vis the petitioners for the assessment year involved had escaped assessment and therefore, the essential precondition for exercising power under section 18 of the act being absent, the impugned ..... present setting of facts, i am of the considered opinion that the purported basis of reopening the assessment of the petitioners under section 17(4) of the act could not have generated the belief that the petitioners' turnover pertaining to sale of onion during the assessment year in question, had escaped assessment to tax. ..... per quintal of onion for the assessment year 1994-95.21. ..... on the consignment sales of onion under the act and duly submitted their return of turnover of sales for the assessment year 1994-95. ..... live link between the material coming to the notice of the income-tax officer and the formation of his belief that there has been escapement of the income of the assessee from assessment in the particular year because of his failure to disclose fully and truly all material facts. .....

Eveready Industries India Ltd. Vs. Joint Commissioner of Income-tax (A ...

Court : Guwahati

..... him to furnish within such period not being less than thirty days, as may be specified in the notice, a return of his income or the income of any other person in respect of which he is assessable under this act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed; and the provisions of this act shall, so far as may be, apply accordingly ..... (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year) :provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under ..... ito : [1961]41itr191(sc) , the supreme court held that to confer jurisdiction under section 34 of the indian income-tax act, 1922,'to issue notice in respect of the assessment beyond the period of four years, but within a period of eight years, from the end of the relevant assessment year, two conditions had to be satisfied; the first was that the income-tax officer must have reason to believe that income, profits or gains chargeable to income-tax had been under .....

Dhanaraj Singh and Co. Vs. Commissioner of Income Tax and anr.

Court : Patna

..... the following conditions should be satisfied :(a) there must be escapement of chargeable income of the relevant assessment year;(b) the ao must have reasons to believe (and not merely reasons to suspect) that such escapement is due to failure of the assessee to file return for that year or due to his failure to disclose fully and truly all the material facts necessary for his assessment for that year; and(c) even if there is no such failure, the ao has, in consequence of ..... ltd.s case : [1971]79itr609(sc) , the supreme court held thus :"thus, it is seen that in burlop dealers case : [1971]79itr609(sc) , apart from the ito holding during the assessment proceedings of the same assessee for a subsequent year, that the alleged agreement between the assessee and ratiram was bogus, there was no other information or material from any other external source which came to the notice of the ..... 139 for any assessment year to the ao or to disclose fully and truly all material facts necessary for his assessment for that year, income chargeable to tax has escaped assessment for that year, or(b) notwithstanding that there has been no omission or ..... hold that the ao could not (and did not) have any reason to believe that the income chargeable to tax has escaped assessment for the relevant assessment years, by reason of the omission or failure on the part of the assessee to disclose fully and truly all the material facts necessary for its assessments for the relevant assessment years .....

Usha Beltron Ltd. and anr. Vs. Joint Commissioner of Income-tax and or ...

Court : Patna

..... shall serve on the assessee a notice requiring him to furnish within such period, as may be specified in the notice, a return of his income or the income of any other person in respect of which he is assessable under this act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed ; and the provisions of this act shall, so far as may be, apply accordingly ..... (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year) :provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under .....

Messrs. Tansukhrai Bodulal Vs. Income-tax Officer, Nowgong, and Others ...

Court : Guwahati

..... or failure as mentioned in clause (a) on the part of the assessee, the income-tax officer has in consequence of information in his possession reason to believe that income, profits or gains chargeable to income-tax have escaped assessment for any year or have been under assessed or assessed at too low a rate or have been made the subject of excessive relief under this act or that excessive loss or depreciation allowance has been computed,he may in cases falling under clause (a) at any time ..... that it is a fit case for the issue of such notice :provided further that the income-tax officer shall not issue a notice under this sub-section for any year, after the expiry of two years from that year if the person on whom the assessment or reassessment is to be made in pursuance of the notice is a person deemed to be the agent of a non-resident person under section 43 :provided further that the tax shall be chargeable at the rate at which it would ..... to believe that by reason of the omission or failure on the part of an assessee to make a return of his income under section 22 for any year or to disclose fully and truly all material facts necessary for his assessment for that year income profits or gains chargeable to income-tax have escaped assessment for that year or have been under-assessed or assessed at too low a rate or have been made the subject of excessive relief under the act, or excessive loss or depreciation allowance has .....

Naginimara Veneer and Saw Mills Pvt. Ltd. Vs. Deputy Commissioner of I ...

Court : Guwahati

..... (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year) : provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under ..... any such income or recompute the loss or depreciation allowance, as the case may be, for the assessment year concerned, if he has reason to believe that by reason of omission or failure on the part of the assessee to make a return under section 139 or to disclose fully or truly material facts necessary for his assessment in that year, income chargeable to tax has escaped the assessment of that year, or also in case of no omission or failure on the part of the assessee to file return or to disclose fully and truly ..... mandha, chief executive of the petitioner-company, submitted before the deponent, namely, the assistant commissioner of income-tax, in the course of hearing for the assessment year 1986-87 that the advances were granted by the forest utilisation officer, dimapur, on actual verification of stock and on the basis of passing certificates issued by, him on such physical verification of stock. .....

Raymond Woollen Mills Ltd. Vs. Income-tax Officer and Others

Court : Mumbai

Reported in : 1992(1)BomCR210; [1994]207ITR929(Bom)

..... part of the assessee, the assessing officer has in consequence of information in his possession reason to believe that income chargeable to tax has ..... this was a case where is relation to the assets consisting of reservoirs, salt pans, piers and condensers, the assessee had not disclosed in the original assessment proceedings for the assessment years 1955-56 to 1962-63 either by its valuation report or by a statement before the income-tax officer as to what portion of those assets were of earth work and what portion of masonry work. ..... to its amendment with effect from april 1, 1989, stood as under : 'if - (a) the assessing officer has reason to believe that, by reason of the omission or failure on the part of an assessee to make a return under section 139 for any assessment year to the assessing officer or to disclose fully and truly all material facts necessary for his assessment for that year, income chargeable to tax has escaped assessment for that year, or (b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the .....

income-tax Officer Vs. Mazda theatres (P.) Ltd.

Court : Mumbai

Reported in : [1986]17ITD195(Mum)

..... law, because on the date (27-4-1970) on which the reasons for reopening were recorded by the ito, which formed the basis of reopening, the finding of the ito in the assessment order for the assessment year 1961-62 to the effect that no expenses had been incurred in repairs and renovation, had already been quashed by the aac (vide order dated 12-1-1970) with the result that the ..... a finding in the appeal for the assessment year 1961-62 that expenses claimed to have been incurred on repairs and renovation were not in fact incurred, it must be presumed that the material facts disclosed at the time of original assessment for the assessment year 1960-61, were not true, with the result that there was ground for reopening the assessment of the said year under section 147(a). strong reliance was ..... the reopening of the assessment was bad in law because on the date (27-4-1970) on which reasons were recorded by the ito under section 148(2), his finding in the assessment for the assessment year 1961-62 about bogus nature of expenses on repairs had already been set aside by the aac, by order dated 12-1-1970, with the result that his abovementioned finding in the order for the assessment year 1961-62 could ..... , judicial member - in this appeal by the assessee for the assessment year 1960-61, the only question that requires decision is whether the commissioner (appeals) was justified in holding that the re-opening of the assessment under section 147(a) of the income-tax act, 1961 (the .....

P. Vasudeva Setty Vs. Commissioner of Income-tax, Mysore

Court : Karnataka

Reported in : [1967]65ITR172(KAR); [1967]65ITR172(Karn); (1967)1MysLJ510

..... assessee before us is that, however wide may be the power of the appellate assistant commissioner under section 31 of the income-tax act, 1922, they are limited to the assessment year to which the appeal in question relates and to the record of the assessment made up of the return made by the assessee and the matters examined and considered by the income-tax officer. ..... in this case, according to the argument, the appellate assistant commissioner has treated all the three assessment years, the appeals in respect of which he was hearing together as consolidated appeals, as one large unit and not three different ..... the assessment year 1951-52 to the income assessable for the assessment year 1950-51 and the direction to add to the income for the assessment year 1949-50 ..... the relationship between the account years and the assessment years with which we are now concerned is as follows : account year assessment year1-9-1947 to 31-8-48 1949-501-9-1948 to 31-8-49 1950 ..... , namely, (1) the jurisdiction of the appellate assistant commissioner under section 31 is strictly confined to the assessment of the year under appeal; (2) under the income-tax act one year is the unit of assessment; (3) the assessment or reassessment made in consequence of or to give effect to any finding or direction contained in any appellate order or an order of superior authority must necessarily relate to the assessment of the year under appeal or revision or reference, as the case may be; and (4) the words 'finding' or .....