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Ambeshwar Grih Nirman Sahkari Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2003)84ITD139(JP.)

..... the main issue in the present appeal was whether the same was to be decided in the light of the two judgments of the tribunal (supra) in identically placed cases as was the view of the learned am or the assessment was to be set aside and restored back to the file of the ao for giving a second innings as held by the learned jm; (viii) the observation of the learned jm in para 7 of his order about "incriminating ..... having been brought on record and also that there has been no application of mind by the ao inasmuch as the same floppy as in these two other cases appears to have been used for framing the assessment except some minor changes, we do not find any justification in restoring the matter back to the ao as such an such an exercise will amount to mockery of judicial system and cause great prejudice to the ..... the issuance of notice under section 158bd and treating the service of notice under section 142 as valid in law proceeded to examine the plea on behalf of the-assessee about the assessment having been completed without providing reasonable opportunity and relating thereto the submission of the learned departmental representative that certain facts were required to be made clear and brought on record and, therefore, ..... accordingly, the assessment of the society is completed for the different assessment years after making additions on account of undisclosed transfer fee and accommodation (name-lending) ..... also clear that in each assessment year the society while earning from plot .....

The Dy. C.i.T., Sr-i Vs. Mangalam Cement

Court : Income Tax Appellate Tribunal ITAT Jaipur

..... law that making of entries in the books is not decisive for allowability of claim under income-tax act.all above details/information not placed before cit( a) in a.y.1992-93.all above details were before ao as well as cit(a) in assessment year 1 992-93.in tata chemicals on fact it was held that all activities carried at different places were carried in same name & style, there is unity of control, existence of common funds, administration & linking of accounts through head office. ..... . learned departmental representative vide his written submissions dated 12.12.2000 and 9.1.2001 submitted that earlier order of the tribunal for assessment year 1992-93 be not applied in the assessment year under consideration on account of the following reasons: (a) the new unit was different as there was distance of 25 yards between the two factories ..... assessee were one and the same or that interest was paid on the amount borrowed for making investment or acquiring assets in the existing business.the learned accountant member further observed that the tribunal in the assessment year 1992-93 did not even say that facts of the case before them were identical with the facts of tata chemical ltd ..... ." the learned judicial member held that as claim of similar deduction in assessee's own case was allowed for assessment year 1992-93, therefore, in consistent with the above view as also in the light of decision of jaipur bench of income-tax appellate tribunal in the case of hindustan zinc ltd. v .....

Subhash Gupta (individual) Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2003)78TTJ(JP.)692

..... a benefit to the assessee in the coming year as the loss could be carried forward but, by no stretch of imagination, can it be said that during the assessment year in question, the assessee had concealed its income ..... departmental representative, while strongly relying upon the orders of the ao and the cit(a), submitted that since the assessee was not able to substantiate his claim of loss, therefore, he agreed to be assessed at nil income before the ao and for the reasons mentioned in the order of the ao and the cit(a), the penalty was rightly imposed by the ao and confirmed by the cit(a) which should be ..... complete details were available and assessee did not agree of concealed income, nor that he had furnished inaccurate particulars, the assessee appears to have been persuaded to have agreed to be assessed at nil income, this too because he entertained a bona fide belief that there will be no financial burden on his and could not even remotely envisage any penal situation.under ..... be adjusted in subsequent assessment years against taxable income, ..... their lordships "pre-supposed taxable income with regard to the assessment year in question".25. ..... provision of law also presuppose taxable income with regard to the assessment year in question. ..... "if there is no taxable income or tax assessed for payment during a particular year, the question of evasion and consequently penalty do ..... is no taxable income or tax assessed for payment during a particular year, the question of evasion and consequently .....

Assistant Commissioner of Income Vs. Jaipur Stock Exchange

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2007)108TTJ(JP.)393

..... on 31st march, 1974, the amendment covered the whole of the financial year 1973-74 and therefore, the income for the whole of the assessment year was entitled to exemption under section 11. ..... amendment had been carried out in december, 1973, the decisions of the tribunal in respect of the earlier assessment years could not be applied in respect of the present assessment year. ..... by the assessee without causing any harm or prejudice to the attainment of such primary or dominant objects and since the assessee is not found to have exercised its discretion under clause b-13 in the year under consideration, benefit of exemption under section 11 would be available to it provided other conditions as laid down in sections 11, 12 and 12a are found to have been fulfilled.8. ..... exemption(iii) that the proceedings for hon'ble rajasthan high court assessments reopened under has not yet decided the writs section 148 for asst ..... calcutta and(b) the delhi stock exchange had there was no prohibition to dec- been denied this benefit for lare dividend or profit to mem- a few years and that view was bers and therefore the assessee confirmed by the delhi high was not entitled to exemption. ..... of the surplus of the company to the extent of 25 per cent under section 11(1)(a) were not as per modes specified in sections 11(5) and 13(1)(d) and this situation is similar in current year also.in view of the above facts of the case, the assessee's contention of claiming under section 11 is wrong and it is not accepted. .....

Wealth-tax Officer Vs. Sardarmal Dhadda

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1988)25ITD83(JP.)

..... whether on the facts and in the circumstances of the case the gross profit rate in the case of the firm with reference to cost price at 38.88 per cent for the assessment year 1973-74 and at 37 per cent for the assessment year 1974-75 will not prima facie show that the difference as provided under rule 2b(2) is more than 20 per cent and the wto has discharged the initial burden cast on mm ..... whether on the facts and in the circumstances of the case the gross profit rate in the case of the firm with reference to cost price 38.88 per cent for the assessment year 1973-74 and at 37 per cent for the assessment year 1974-75 will not prima facie show that the difference as provided under rule 2b(2) is more than 20 per cent and the wto has discharged the initial burden cast on him ..... 1 is in the affirmative, whether the burden shifts to the assessee to prove that the prima facie difference of 38.88 per cent and 37 per cent for the assessment years 1973-74 & 1974-75 is not real, by leading positive evidence particularly when he is in possession of evidence like vouchers, books of account, inventory of closing stock and not by hypothetical general statements ..... 1 is in the affirmative, whether the burden shifts to the assessee to prove that the prima facie difference of 38.88 per cent and 37 per cent for the assessment years 1973-74 and 1974-75 is not real, by leading positive evidence particularly when he is in possession of evidence like vouchers, books of account, inventory of closing stock, .....

Modern Threads (i) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1999)69ITD115(JP.)

..... the claim of such liability in the hands of the sub-licensor against the consideration received could be claimed only if the amount received is taken as a business profit in the hands of the sub-licensor and income therefrom is assessed in italy, as the sub-licensor having no permanent establishment in india is not taxable on such business profit in india.moreover, intent of the contract agreement has to be construed and interpreted liberally in favour of the sub-licencee as per ..... setting up of the plant, the consideration received would undoubtedly be a business profit in the hands of the sub-licensor and the sub-licensor having no permanent establishment in india such business profits are liable to be assessed in the hands of the sub-licensor in italy and the sub-licensor in that eventuality would also be in a position to claim the liability provided under the contract to the extent of 80% against the business profits ..... company agrees that it will use the technical know-how and basic process engineering only to design, construct and operate the plant.6.13-1 the assessee company's secrecy obligations under article 8 shall terminate fifteen years after the effective date.6.15 the maximum financial liability of the sub-licensor for all expenses, indemnifications, reimbursements costs of plant modifications to avoid infringement, legal cost relevant to the defence and disposal of ..... filed by assessee against the order of the cit(a) dated 11-3-1997 relevant to assessment year 1997-98. .....

Vijay Solvex Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2005)92ITD24(JP.)

..... accounts prepared as per provisions of parts ii and iii of schedule vi of the companies act for purposes of section 115j of the income-tax act, observed as per head-note as under : the assessing officer, while computing the book profits of a company under section 115j of the income-tax act, 1961, has only the power of examining whether the books of account are certified by the authorities under ..... 1344/chd/98 assessment year 1990-91 ..... depreciation as per income-tax rules and prepared the profit and loss account as per parts ii and iii of schedule vi of the companies act.the assessing officer has wrongly recasted profit and loss account by providing depreciation as per schedule xiv, which has no application to the present case.4. ..... this did not give any authority to the assessing officer to recast the profit and loss account for the relevant previous year and reduce the amount of depreciation so charged by the appellant, which ..... the assessee challenged this action of the assessing officer before cit(a) and pleaded before him that the only requirement of the companies act is for providing of depreciation but there is no requirement about the rate at which the depreciation for the current year has to be provided for preparing its profit and loss account as ..... accountant member, accordingly, held that assessing authority had no role to recast the profit and loss account for the relevant previous year and reduce the amount of depreciation so charged by the assessee.such an action was .....

H.H. Maharao Bhim Singhji Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1984)10ITD558(JP.)

..... assessee vide his letters dated 27-9-1977 and 29-11-1977 and the matter was discussed at length and his attention was also drawn to the proceedings for the assessment year 1957-58 to the assessment year 1965-66 in the course of which the question of exemption undersection 5(1)(iii) of umed bhavan and the adjoining lands forming part of ..... admeasuring 2507 bighas in the surrounding of umed bhavan, kota ; that even though the assessee had in his letter dated 25-9-1977 (pertaining to the assessment year 1970-71) and 29-11-1977 (pertaining to the assessment years 1970-71 and onwards) had claimed exemption undersection 5(1)(iii) in respect of umed bhavan/umed bhavan including the compound, the wto ought ..... official residence under paragraph 13 of the merged states (taxation concessions) order, 1949, or paragraph 15 of the part b states (taxation concessions) order, 1950; the said provision on each of the valuation dates for the assessment years 1972-73 to 1975-76, by virtue of the finance act, 1970, the rulers of indian states (abolition of privileges) act, 1972, came to read as under : 5(1) subject to the provisions of section ..... the wto, as is clear from his report to the iac dated 3-1-1978, referred to above.35.4 thus, whereas on the basis of the facts found on the record of the appeals, for the assessment years 1966-67 to 1969-70, it could be said that the assumption of jurisdiction by the learned commissioner under section 25(2), on account of the assessee's failure to place full evidence on record and .....

Birbal Khan Chand Khan and Party Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1995)52ITD522(JP.)

..... the said application reproduced in extenso, runs as a under :- in the matter of m/s birbal khan chandan khan & party, assessment year : 1985-86 we are submitting along with this application an appeal in the case of m/s birbal khan chandan khan & party, against the order ..... in the case of m/s birbal khan chandan khan & party, for the assessment year 1985-86 against the order of the cit(a) relevant to the assessment year 1985-86 under section 143(3) were not received by me. 4. ..... had also conducted the appeal for assessment year 1985-86 before the cit (appeals) filed against the assessment order passed by ito, bikaner ..... the income-tax case of m/s birbal khan chandan khan and party, taranagar for the assessment year 1985-86 before the ito, bikaner. 2. ..... the assessment year 1985-86 ..... accordingly, hold that since this appeal was filed with inordinate delay of more than four years and such delay does not stand satisfactorily explained, the appeal has to be dismissed on the ..... assessee in the application dated 16-6-1994 for condonation of delay was that it was in the course of hearing assessee's appeal against cit(a)'s order confirming penalty under section 271 (1)(c) for this very year that the assessee came to know that the quantum appeal was not filed in the tribunal. ..... of the case go to speak that it was after the query made by the bench on 9-6-1994 in the course of hearing the penalty appeal of the assessee for this very year that the assessee thought of filing this second appeal on quantum side. .....

Rameshchand Ludhani Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2005)92ITD161(JP.)

..... the ld.counsel drew our attention on the computation sheet dated 19-2-1992 issued by the assessing officer in the case of vaishali enterprises (supra) for the assessment year 1986-87 giving effect to the order dated 24-12-1991 of the tribunal which is appearing at page no. ..... the ld.counsel further submitted that the tribunal, in the case of vaishali enterprises (supra) for the assessment year 1986-87, has also observed that a balance of about rs. ..... 1, 22, 659 and taxed in that case for the assessment years 1984-85 to 1986-87 has been utilised prior to 9-1-1986 or adjustment has been demanded and allowed for the same against seized cash in any other assessee of this group, then certainly the adjustment of rs. ..... . 1, 22, 659 and taxed in that case for assessment years 1984-85 to 1986-87 has been utilized prior to 9-1-1986 or adjustment has been demanded and allowed for the same against seized cash in any other assessee of this group, then certainly the adjustment of rs ..... vaishali enterprises, in which the assessee is one of the partners in the assessment years 1984-85, 1985-86 and 1986-87, aggregating to rs. ..... 1, 22, 659 and taxed for the assessment years 1984-85 to 1986-87 and has been utilized prior to 9-1-1986 or adjustment has been demanded and allowed for the same against seized cash in any other assessee of this group, then certainly the adjustment of rs. ..... vaishali enterprises has allowed credit for the on money earned during the assessment years 1984-85 and 1985-86 upto rs. .....