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Uma Polymers (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)284ITR1(Jodh.)

..... , 1992 and, therefore, the time allowed by the ao requiring the appellant-company to produce the shareholders was quite inadequate and since looking to the fact that the assessment, for the relevant assessment years was going to be time-barred by 31st march, 1992, the appellant-company on 3rd march, 1992 made a specific prayer to the ao to issue summons to all the shareholders under section 131 of the it act, if the ao ..... course of hearing of appeal before the tribunal, the assessee raised an additional ground of appeal to the following effect : that the provisions of section 43b as were in force in the relevant assessment year, did not permit any addition for unpaid interest to rajasthan financial corporation being a state financial corporation and the ao, therefore, erred in law in making addition of rs. ..... has also made a prayer for admission of additional ground which is being reproduced below : that the provisions of section 43b as were in force in the relevant assessment year, did not permit any addition for unpaid interest to rajasthan financial corporation being a state financial corporation and the ao, therefore, erred in law in making addition of ..... the appellant had made a prayer for admission of the following additional ground : that the provisions of section 43b as were in force in the relevant assessment year did not permit any addition for unpaid interest to rajasthan financial corporation being a state financial corporation and the ao, therefore, erred in law in making .....

Uttam Chand Nahar Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... 1990-91, therefore, the not mentioning of the relevant assessment years involved (because the payment investment as per facts on records are in relation to the two assessment years), it is submitted that the reasons are vague ..... detailed and comprehensive manner, but he only gets additional time by such special provision to tax the escaped income in the cases where the time-limit of making assessment as provided under section 153(1)(a) has already expired, therefore, to reopen the earlier completed assessment or if no assessment was made within the prescribed time-limit either on account of no return of income having been filed by the assessee or information of escaped income came to ..... that the addition made by the learned ao and which is disputed in this appeal in any event ought to have been spread over in two assessment years and legally this addition could not have been made in one year as has been done. ..... construction of new house in assessment year of starting thereof i.e. ..... if the reasons are vague and not specific either with respect to the year of assessment involved or quantum of income involved or status of the assessee is involved, then in such situation the condition of recording of valid and lawful reasons is not fulfilled and, therefore, no valid and ..... that where in respect of any year a return had been voluntarily submitted before assessment, the ao cannot choose to ignore the return and any notice of reassessment and consequent assessment under s, 34 ignoring the return .....

Rajasthan Vanaspati Products (P) Vs. Deputy Commissioner

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)93ITD390(Jodh.)

..... commencing on the 1^st day of april, 1968; (iii) two years from the end of the assessment year in which the income was first assessable; where such a. y. is an a. y. ..... act 1961" for "assessment year 1985-86" as contained in my letter dated 17^th march 1988 was issued by me in my erstwhile capacity as inspecting assistant commissioner of income tax (assessment) jodhpur and duly served upon sri s. k. ..... act for which the period of limitation would be 8 years because the assessing officer did not make assessment under those sections and also had not recorded a finding as required under section 271(1)(c) of the i.t. ..... pal, the period of limitation for an assessment under section 143 is four years in the ordinary circumstances, but is eight years if the case falls within section 271(1)(c) of the act. ..... the income-tax authorities have been empowered to complete the assessment proceedings within a larger period of eight years where there has been concealment of income. ..... therefore, the assessing officer was not in a position to get the benefit of 8 years for completing the assessment by invoking the provisions of section 153(1)(b) of the i.t ..... from the above provisions, it would be clear that the assessment can be completed within two years from the end of the a.y. ..... therefore, the time for completing the assessment was 8 years from the end of a.y. ..... 1.4.89] read as under: "no order of assessment shall be made under section 143 or section 144 at any time after - (i) four years from the end of the a.y. .....

Kothari Departmental Stores (P) Vs. the Assessing Officer Income-tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)278ITR214(Jodh.)

..... required to be audited under this act or under any other law for the time being in force, the 31st day of october of the assessment year; (b) in the case of a person other than a company referred to in the first proviso to this sub-section, the 31st day of october of the ..... reproduced as under: (b) being a person other than a company, if his total income or the total income of any other person in respect of which he is assessable under this act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of ..... day of october, 1998, or as the case may be, by a commissioner (appeals) under section 154, section 250, section 271, section 271a or section 272a; or (b) an order passed by an assessing officer under clause (c) of section 158bc in respect of search initiated under section 132 or books of account, other documents or any assets, requisitioned under section 132a, after the 30th day of june, 1995 ..... the assessment year referred to item 3 3b total income as computed by the ao for the assessment year referred ..... any time within four years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the assessing officer: provided that an amendment which has the effect of enhancing an assessment or reducing a .....

Mangilal Rameshwarlal Soni (Huf) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)83TTJ(Jodh.)770

..... (iii) no drawings by the coparceners of the huf have been shown for any of the assessment year covered in the block period upto calendar year 1992 which makes the assessee's version of giving true account of the income and accounts particulars stands exposed. ..... 5,50,559 on account of unexplained opening capital shown by the assessee in the first year of block assessment year without considering the fact that the assessee had not been assessed to tax and the accretion of capital to the extent of rs. ..... (ii) whether in taking resort to the block assessment for the block of 10 assessment years in question, income for the asst. yr. ..... (ii) whether in taking resort to the block assessment for the block of 10 assessment years in question, income for the asst. yr. ..... 1997-98, return for which has not fallen due, could be included in the block period for the reason that return for that assessment year has not been filed? ..... 1997-98, return for which has not fallen due, could be included in the block period for the reason that return for that assessment year has not been filed? ..... jain submits that as per the provisions of section 158be(2)(a), the ao is competent to pass an assessment order within a period of one year from the end of the month in which notice under section 158bd was served on the assessee, where the search was initiated prior to 1st jan. .....

The A.C.i.T. Vs. Jagat Explosives

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... but the fact that the assessee included the income of the premises in his returns for several years, and that after objecting to the inclusion of that income in his total income in the assessment year 1942-43, in the absence of any satisfactory explanation, is undoubtedly a circumstance which the taxing authorities were entitled to take into ..... the matter is remitted to the assessing officer for fresh assessment of the taxable income and the tax liability of the appellant firm for the assessment year 1992-93 & 1993-94 by strictly following the procedure prescribed for assessment under section 143(3) of income-tax ..... this, i want to explain this that in assessment year 1996-97, i will not file any appeal and for remaining years, i will file the revised return.22. ..... in question 46, except assessment year 1996-97, whichever was asked to you in respect of assessment year 1997-98, 1998-99 and 1999-2000, in this regard, you have not answered ..... except this, i want to say that for assessment year 1997-98, 1998-99 and 1999-2000, i do not want to say anything at ..... itr 803, their lordships of supreme court held as under :- it is true that the assessee itself had included that dividend income in its return for the year in question but there is no estoppels in the income-tax act and the assessee having itself challenged the validity of taxing the dividend during the year assessment in question, it must be taken that it had resiled from the position which it had wrongly taken while filing the return. .....

Assistant Commissioner of Vs. Jagat Explosives

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)98ITD50(Jodh.)

..... but the fact that the assessee included the income of the premises in his returns for several years, and that after objecting to the inclusion of that income in his total income in the assessment year 1942-43, in the absence of any satisfactory explanation, is undoubtedly a circumstance which the taxing authorities were ..... is remitted to the assessing officer for fresh assessment of the taxable income and the tax liability of the appellant-firm for the assessment years 1992-93 and 1993-94 by strictly following the procedure prescribed for assessment under section 143(3) of ..... want to explain this that in assessment year 1996-97, i will not file any appeal and for remaining years, i will file the revised ..... in question 46, except assessment year 1996-97, whichever was asked to you in respect of assessment years 1997-98, 1998-99 and 1999-2000, in this regard, ..... except this, i want to say that for assessment years 1997-98, 1998-99 and 1999-2000, i do not want ..... 105, he agreed to surrender the abovesaid sum for assessment year under consideration subject to no penalty and no prosecution. ..... high court held as under:-- it is true that the assessee itself had included that dividend income in its return for the year in question but there is no estoppels in the income-tax act and the assessee having itself challenged the validity of taxing the dividend during the year assessment in question, it must be taken that it had resiled from the position which it had wrongly taken while filing the return .....

The D.C.i.T, Special Range and Vs. Prem Cables (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... besides, it was conceded before us that the scope of activities undertaken by the assessee for the assessment year under reference and in the earlier and subsequent years remained the same similarly, the assessee was not allowed any concession in the price at which purchased conductors from m/s ..... it is also undisputed fact that even for the assessment year under reference the assessee was visited with a penalty of ..... however, on the last date of accounting period relevant to assessment year under reference, it was noticed that there was an agreement between the two parties executed on 31.3.1995 as per which it was agreed to charge the job charges from m/s ..... details are indicated on page 6 of the assessment order.date of amount of date of date of issuepayment/ credit for job payment tds certificatecredit work & of tax deducted certificate conversion---------- ---------- ---------------- -----------------30.4.95 1,174 12.5.95 30.5.9530.6.95 20,73,808 7.7.95 9.7.9531.10.95 8,33,925 11.1.96 12.1.9631.11.95 6,84,900 7.12.95 10.12.9531.1.96 5,37,669 8.2.96 9.2.9629.2.96 34,84,517 3.7.96 9.3.9631.3.96 23,09,442 30.5.96 31.5.96 ---------- had there been genuine agreement entered into on the last date of the previous accounting year relevant to assessment year 1995-96 m/s p.g. ..... the ao also mentioned that in the assessment year 1995-96, the assessee had received job charges @ ..... 627/- by way of penalty whereas in the immediately preceding assessment year the assessee suffered a penalty of rs. .....

Bhawan Va Path Nirman (Bohra) and Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)101ITD101(Jodh.)

..... the amount of sales-tax refund in the hands of the assessee during the previous year relating to the assessment year, in question, cannot be deemed to be income of that year, merely on the basis of drawing inferences that it might have allowed as deducted in the earlier assessment years.the hon'ble high court accordingly dismissed the revenue's appeal. ..... same to the income returned by the assessee" but the said direction has been given in view of the concession given/tolerated by assessee as the learned authorised representative of assessee expressed the assessee having no objection to the assessed income for the year under consideration, being restricted to the income returned by assessee, as has been specifically mentioned in the tribunal's above decision in para 3 on pg. ..... the decision has been taken on merit.this bench of the tribunal had been taking constant view that the assessed income involved in the year under appeal should not fall below the returned income after allowing necessary relief by the order of this bench of tribunal. ..... ito (1988) 31 ttj (del) 378 : (1989) 28 itd 50 (del), tribunal, delhi, has held as under : the assessments for the relevant years were framed without allowing the assessee, deduction under section 80u to which she was entitled: the assessment was, therefore, not in accordance with and subject to the provisions of the act and was thus erroneous. .....

Assistant Commissioner of Vs. Sharda Gums and Chemicals

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2001)76ITD282(Jodh.)

..... included in such profits the said explanation from assessment year 1992-93 provides for exclusion of inter alia 90 percent of receipts by ..... the, explanation (bad) was inserted in section 80hhc w.e.f, assessment year 1992-93 which provides that "profits and gains of the business" for the purposes of section 80hhc means the profits of the business as computed under the head "profits and gains of business" as reduced by 90 ..... this clearly and necessarily implies that prior to assessment year 1992-93 the interest receipts and the amount of import entitlements and ..... but the insertion of that provision from assessment year 1992-93 and the decisions where the said explanation has been considered by various benches of the tribunal, will provide valuable guidance for arriving at a proper conclusion in the present case also.13.1 ..... earlier, whole of the income assessable under the head "profits and gains of business" had to be taken into consideration for computing deduction under section 80hhc but from assessment year 1989-90, deduction can be allowed only in respect of the profits derived by the assessce from export ..... the amendment so made from assessment year 1992-93 also clearly supports the assessee's contention with regard ..... section 80hhc(3) as it existed in assessment year 1989-90 provides that in a case where the business carried on by the assessee consist exclusively of the export out of india of the eligible goods, the entire profits of business as computed under the head "profits .....