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Shyam Biri Works (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2003)84ITD124(All.)

..... sheets for the assessment year 1987-88 from 19-6-1987 to 30-3-1990, for the assessment year 1988-89 from 25-4-1989 to 30-3-1990 and for the assessment year 1989-90 from 31-1-1990 to 30-3-1990, copy of the order dated 27-9-1999 passed by the income-tax appellate tribunal deleting the penalty under section 271(1)(c) of the ..... the cit(c), copy of the reports dated 7-3-1990, 19-3-1990, 29-3-1990 submitted by the acit (central circle) (ao) to the cit(c), copy of revised computation of income filed alongwith the note for all the assessment years, copy of the assessment order under section 143(3) passed by the assessing officer on 30-3-1990 alongwith office note, copy of re-conciliation statement regarding the undisclosed income determined in the order under sections 132(5) and 143(3) of the act, copy of the order ..... . we would like to mention here that the assessee in his computation of income filed with the revised return on page 122 of the paper book for assessment year 1987-88 at page 131 for the assessment year 1988-89 and at page 141 for the assessment year 1989-90 has clearly specified that with regard to his claim of deduction under sections 80hh and 80hha the assessee has claimed deduction under section 80hh in 1987-88 in respect of the industrial unit at .....

Vishwanath Prasad Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2003)86ITD516(All.)

..... undisclosed income as a result of search and section 158ba(3) provides that "where assessee proves to the satisfaction of the assessing officer that any part of income referred to in sub-clause (1) relates to an assessment year for which the previous year has not ended or the date of filing the return of income under sub-section (1) of section 139 for any previous year has not expired and such income or transaction relates to such income are recorded on or before the date of ..... -ii, varanasi after the change of the jurisdiction, copy of the assessee's letter dated 6-11-1997, furnished in compliance of the assessing officer's notice dated 29-10-1997, copies of the reconciliation statement pertaining to cash and gold and silver ornaments on 3-11-1996, copy of the assessee's letter dated 8-11-1997, copy of the balance sheet alongwith the assessment orders from assessment year 1994-95 to 1997-98, copy of the comparative chart of the job work receipts for making/ repairing of ornaments, copies ..... search or requisition in the books of account or other document maintained in the normal course relating to such previous year, the said income shall .....

Gupta Construction Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2004)84TTJ(All.)46

..... the period therefore, fell in this assessment year in question and part contract were pertained to the preceding assessment year. ..... by the revenue is directed against the same order of the cit(a) and for the same assessment year on the following grounds : "1. ..... would be relevant for the same consideration in this case but the remaining report is merely of advisory nature, therefore, could not be considered in the assessment year in question. ..... has accepted the orders of the cit(a) in the preceding assessment years, i.e. ..... it is also established fact from the past history of the assessee that in the preceding years and subsequent years, income of the assessee was computed and assessed by the department on the basis of estimation by applying the net profit rate of 8 per cent to 8.25 per cent and the matters have ..... keeping in view the discrepancies pointed out in the assessment order, it would be fairly reasonable to apply a net profit rate of 10 per cent as against 8 per cent applied in the immediately proceeding year, i have kept in view the discrepancies/defects pointed out in the maintenance of the books ..... 2,61,565 -------------- during the course of the assessment proceedings, the ao asked the assessee to furnish the names and addresses of the parties and sundry creditors with whom raw material for construction of the road had been purchased during the year under consideration, the assessee furnished the addresses and as such, the ao issued letters of enquiry under section 133(6) of .....

M.P. Udyog Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1989)28ITD85(All.)

..... or wiped out so long as the contention of the assessee did not prevail.we, therefore, do not agree with the finding of the commissioner of income-tax (appeals) in the assessment year 1976-77 that the assessee was not liable to pay any market fee as it was disputing its levy before the higher authorities. ..... the appellant, is whether or not if the amount is not assessable under section 41(1) of the it act, 1961, it is assessable in this year for any other reason in terms of any other provision of the act he agreed with the submissions of the counsel for the assessee that provisions of section 41(1) could be applied only when an allowance or deduction had been made in an earlier assessment year and that the remission or cessation of the liability was final and ..... the income-tax act, 1961 as it had already received deduction in respect thereof in the assessment years 1971-72 to 1973-74 and further it was also not required to refund any part thereof ..... the income-tax act, 1961 as it had already received deduction in respect thereof in the assessment years 1971-72 to 1973-74 and further it was also not required to refund any part thereof ..... before us that for applying the provisions of section 41(1) of the act, it was necessary to show that an allowance or deduction had been made in the assessment of an earlier year, that subsequently there should have been a remission or cessation of the assessee's trading liability and that the assessee should also receive some benefit in respect of such .....

Sri Gopal Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1988)26ITD25(All.)

..... appeal by the assessee is directed against the order of the appellate assistant commissioner dated 23-8-1983 relating to the assessment year 1979-80, 2. ..... devi have been allowed by the department in the assessment year 1978-79. ..... and smt.jagdisha devi in the assessment year 1978-79, i.e. ..... the most important evidence that has been ignored by my learned brother and which is in favour of the assessee is the assessments of the parties themselves.the parties to whom the losses had been paid are themselves income-tax assessees. ..... the learned counsel for the assessee strongly urged that in the assessments of the five parties, the profits in respect of the transaction entered by them with the assessee have ..... contended that this issue is covered by the order of the itat passed in the case of the assessee for the immediately preceding year in which the depreciation on refrigerator was allowed vide order of itat dated 28-9-1981 in ita no. ..... once the assessment has been made in their hands, the same income cannot be assessed twice over in the hands of the ..... duly shown the profits received by them in their respective returns and in most cases their assessments have been completed. ..... they have been assessed to tax on ..... to the order of the itat passed in the preceding year, we hold that depreciation on refrigerator should have been allowed ..... in the assessments of those five parties, the amounts received by them from the assessee on account of the settlement of the transactions, have been included in their .....

Sahara India Mutual Benefit Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... as well as the settled principles of law in this respect, it is clear that cit can exercise his powers of revision under section 263 only if the following factors co-exist : (iii) on the examination of assessee's assessment records relevant for the assessment year for which order has been passed, the cit should consider that the said order is erroneous and prejudicial to the interest of revenue, and (iv) the cit for considering the order as ..... revenue. shri pandit is right in his submission that the order of the ito in respect of the three assessment years was carried in appeal before the aac and the appellate authority granted relief to the petitioner by modifying the orders passed ..... gross profits shown by the petitioner in respect of electrical business was 11.64 per cent, 11.82 per cent and 22.87 per cent, respectively, for the relevant assessment years and that was estimated by the ito at 12.5 per cent for the first two assessment years, while retaining the gross profit shown by the petitioner for the last assessment ..... petitioner carried three appeals against the orders of assessment passed in respect of the three assessment years before the aac of ..... n.d." thereafter, the cit, after allowing the assessee an opportunity of hearing by way of notice under section 263, set aside the assessment order for both the years for making de novo assessments by holding that the orders were erroneous and prejudicial to the interest of the revenue inasmuch as, they were passed in haste/hurry without proper .....

Verma Roadways Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2000)75ITD183(All.)

..... in view of the provisions under section 158ba and 158bb, the income/investment relating to these trucks, cannot be connected to the seized papers, any addition was called for, this should be made in the assessment for the assessment year 1996-97 for which return had been filed by the assessee.therefore, this addition cannot be maintained as such which is directed to be deleted.179. ..... he found that in the schedule of fixed assets as on 31-3-1995, the assessee had shown only 9 trucks with registration numbers while in the schedule of fixed assets as on 31-3-1996 attached along with the return for the assessment year 1996-97, two additional trucks, namely, up 78-b 8673 and up 77a 1644 were shown as opening balance. ..... " according to him, the only difference is that under section 148(1), the return is required to be filed for the relevant assessment year while under section 158bc, the return is to be filed for the block period. ..... it is evident from this requirement and also implicit from the nature of the notice that it must specify with clearness and particularly the assessment year for which the assessment is sought to be reopened for which in the opinion of the income-tax officer, income has escaped assessment or has been under assessed and in respect of which the assessee is required to file a return of his total income and total world income during the previous year. ..... the assessee filed return for the assessment year 1997-98 giving computation of income upto 26-11-1996. .....

The Acit, Range-ii Vs. Baldev Plaza

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2005)93ITD579(All.)

..... on 20/21st march, 1999 for the purpose of estimating cost of construction; (vi) on 2.11.1999, return for the assessment year 1999-2000 was filed which was processed under section 143(1)(a) on 16.2.2000; (vii) on 29.3.2000, the assessee filed return of income for the assessment year 1997-98; (viii) on 30th march, 2000, assessment order under section 143(3) was passed for the assessment year 1997-98; (ix) on 24.1.2001, notice under section 148 of the income-tax act, 1961 was issued to the ..... must have reason to believe that the income chargeable to tax has escaped assessment; (ii) he must have reason to believe that such income has escaped assessment by reason of the omission or failure on the part of the assessee to take a return under section 139 for the assessment year or to disclose fully and truly material facts necessary for his assessment for that year.if these two conditions are satisfied then it would give jurisdiction to the ao to initiate proceeding under section ..... it was also pleaded before the ao that on the same set of facts, he cit(a) deleted the addition in assessment year 1997-98, but the ao did not accept the order of the cit(a) for the assessment year 1997-98 as the department has authorized second appeal but ultimately no second appeal is filed. .....

Dharmendra Prasad Singh Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1987)22ITD44(All.)

..... he pointed out that the use of the assessment year in the said sub-section indicates the intention of the legislature that the assessment completed for the assessment year commencing from 1-4-1971 should be adopted as the basis contemplated in section 7(4) of the ..... there may be cases where no assessment had been made for the assessment year 1971-72 and in that case, if suggestion of the learned counsel is accepted section 7(4) will not be applicable and the assessing wto will not be able to value the property on the basis of section 7(4) of the ..... if the wto had completed the assessment for the assessment year 1971-72 after due scrutiny, subsequent officer should follow same, and, in case if it is not followed then assessee may take up the matter before the ..... in the income-tax proceedings for the assessment year 1966-67, this issue was subject matter of ..... be other cases where the assessment had been completed without scrutiny, for the assessment year 1971-72 and the assets had been grossly undervalued and limitation for reopening the assessments had expired. ..... 3,00,000 and we take it at this figure for the assessment years 1971-72 to 1980-81 under the provisions of section 7(4), ..... , decline to interfere and confirm the orders of the lower authorities.the learned counsel for the assessee suggested that we must read section 7(4) in a manner that once the assessment for the assessment year 1971-72 had been completed, the basis should be adopted under section 7(4) for all subsequent years. .....

Assistant Commissioner of Vs. U.P. National Manufacturers Ltd.

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2001)76ITD272(All.)

..... commissioner of income-tax dated 12-3-1993 for the assessment year 1992-93, the department has objected to the deletion of interest of rs. ..... in the assessment year 1992-93, it paid commission to the tune of rs. ..... revenue, by notification in the official gazette, specify in this behalf; (b) where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the person referred to in sub-section (1) to the account of, or to, the payee, does not exceed two thousand five hundred rupees." 4. ..... when the assesscc-company failed to deduct tax at source, the assessing officer issued a notice for showing cause as to why form no. ..... commissioner of income-tax held the assesses liable for not deducting tax of rs. ..... hence we reverse his findings and uphold the action of the assessing officer. ..... the assessing officer has been benevolent enough in not imposing any penalty under section 221 perhaps due to reasonable cause, though the assessee has been treated as in default under section 201(1) of the income tax act ..... the assessing officer also refused the summoning to the assessee under section 131 of income-tax act on 7-9-1992. .....