Court : Mumbai
Reported in : [1990]32ITD315(Mum)
..... reference was also made to the tribunal order dated 15th april, 1987 for the assessment year 1980-81 claiming that the tribunal had accepted the system of accounting followed by it. ..... following the first appellate order for the assessment year 1984-85 in the assessees own case, the cit (a) rejected the claim of the assessee for additional depreciation ..... further submitted that a similar matter came up before the tribunal in the assessment year 1977-78 and vide order dated 20-4-1982 in ita no. ..... it was held by the tribunal in the appeal for assessment year 1980-81 that the change effected by the assessee was just and proper taking into consideration the nature of the business in which the company was engaged ..... , 1974, which provides that in computing the income of a scheduled bank chargeable to income-tax under the head 'profits and gains of business or profession', the interest-tax payable by the scheduled bank for any assessment year shall be deductible from the profits and gains of the bank assessable for that assessment year. ..... namely, writ back of interest written off in past years, it may be stated that the cit (a) has allowed the same in the assessment years 1981-82, 1983-84 and 1984-85. ..... the tribunal allowed the claim of the assessee following still earlier orders in the appeals for assessment year 1975-76 and 1976-77 in ita nos. ..... 000 was allowed by the tribunal in the assessment year 1978-79 and the remaining amount of rs. ..... has been allowed in the assessment years 1975-76 to 1978-79. .....
Tag this Judgment!Court : Mumbai
Reported in : [1995]55ITD408(Mum)
..... of association;(ii) the cit(a) at the time of registration under section 12a of the act considered the object of the company;(iii) the benefit under section 11 of the act was granted to the assessee-company in the preceding assessment years.in its letter dated 21-9-1994, assessee stated that the bureau was established for the purpose of collecting information and data which render assistance to advertisers, government and other bodies, members and non-members. ..... for the relevant assessment years assessing officer allowed the claim made under section 11. ..... it was stated that for these assessment years (1981-82 to 1983-84) even after such disallowance, the total income was determined at nil.4. ..... for and up to the assessment year 1980-81, the assessee was assessed as a 'trade association' by the 12th ito, companies circle (6). ..... the receipts from subscription and entrance fees from members were treated as exempt on the basis of mutuality for and up to the assessment year 1980-81 by the assessing officer. ..... the assessments for the assessment years 1981-82 to 1983-84 were completed by the 8th ito, trust circle, and the exemption as contemplated under section 11 was granted to the assessee. ..... chaturvedi (jm) - these two appeals by the assessee are directed against the order of the commissioner of income-tax (appeals)-xiii, bombay, and pertain to the assessment years 1989-90 and 1990-91. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1990]185ITR517(AP)
..... 19, 1982, the income-tax officer initiated proceedings for penalty under section 271(1)(c) of the act for concealment of income and levied the following penalties after issuing notices to the petitioner : 'assessment year amount1972-73 12,4201973-74 19,5601974-75 26,4601975-76 30,5101975-77 32,900' after the initiation of the penalty proceedings, the petitioner filed a petition dated february 4, 1984 under section 273a of the act addressed to the commissioner requesting ..... however, the income-tax officer passed orders as stated above levying penalties and interest for the five assessment years by his order dated march 20, 1984, because by that time the commissioner did not pass any orders on the petitioner's application under section 273a ..... of income-tax, visakhapatnam, to waive under section 273a the penalties levied by the income-tax officer, a ward, rajahmundry, for concealment of income under section 271(1)(c) of the act for the assessment years 1972-73 to 1976-77, as the petitioner had satisfied all the conditions prescribed in section 273a of the act. 2. ..... assessee came forward by filing the so-called revised returns spreading the investment over the assessment years under consideration after the assessments had already been completed on the basis of the returns filed by the assessee ..... petitioner-firm filed returns of income for the assessment years 1972-73 to 1975-77 and the assessments in respect of the said years were completed by the income-tax officer by december .....
Tag this Judgment!Court : Allahabad
Reported in : [1978]112ITR1038(All)
..... later, the petitioner filed a return under section 139(1) of the act for the assessment year 1973-74, on september 4, 1973, declaring a loss of rs. ..... for the assessment year 1973-74, the petitioner filed an estimate under section 212(1) of the income-tax act, 1961, in form no. ..... the assessment year in question is clearly governed bythis exception. ..... sub-clause (ii) of clause (b) permits the allowanceof any such provision for the previous year relevant to the assessment yearcommencing on or after the 1st day of april, 1973, but before the 1st dayof april, 1976. ..... been furnished under section 139 and the assessee claims that the advance tax already paid by him exceeds the tax payable on the return, the income-tax officer may make a provisional assessment of the tax refundable to the assessee, if in the opinion of the income-tax officer the regular assessment of the assessee is likely to be delayed, and if no assessment has been made within six months, the income-tax officer is bound to make a provisional ..... according to the income-tax officer, since the assessments for the year to which the unabsorbed depreciation and development rebate related had not been completed, therefore, the depreciation anddevelopment rebate could not be allowed as deductions. ..... 96,94,121 could not be allowed as regular assessment had not been made in respect of the year to which the claim pertained is also erroneous. .....
Tag this Judgment!Court : Allahabad
Reported in : [1986]17ITD756(NULL)
..... the nizams supplemental religious endowment trust (supra) for the proposition that the payments on account of tax made in the assessment years in question were entitled to be treated as expenditure incidental to the carrying out of the purposes of the assessee and that such payment could not be excluded from exemption and were, thus, to be excluded from the assessees income.10. ..... a perusal of the earlier order of the tribunal in the case of the assessee for the assessment years 1972-73 and 1973-74 shows that the grant of exemption in respect of the income of the assessee was considered from the point of view of the applicability of the principle of mutuality and not under section 2(15). ..... we, therefore, uphold the assessees contention that the examination of the claim of the assessee of the assessee for the assessment years in question could not be excluded as the principles of res judicata would not be applicable.7. ..... he also noticed that at the time of the filing of the return for the assessment year 1976-77, the assessee had stated that its only source of income was from weighbridge installed for the benefit of members and for traders who paid for the services rendered to them through the ..... he relied upon the order dated 15-10-1975 of the tribunal for the assessment years 1972-73 and 1973-74 and assessed the assessee in respect of the amounts of rs. ..... the income and expenditure account for the assessment year 1975-76 showed an excess of income over expenditure to the tune of rs. .....
Tag this Judgment!Court : Allahabad
Reported in : [1986]17ITD1075(NULL)
..... the decision of the allahabad high court related to the assessment year 1965-66 when there was no column in the return for showing any such ..... there is no doubt that the return for the assessment year under appeal does provide a column for showing the income arising to the wife as referred to in ..... cit : [1978]112itr492(all) held that under section 64(1)(ii) of the act, the share of a minor admitted to the benefits of partnership could be assessed in the hands of his father if the latter was also a partner in that firm irrespective of the fact whether he was partner as an individual or as a karta of his ..... to the second submission of the learned departmental representative, his reply was that the assessment made under section 147(a) could not be changed to have been made under section 147(b) in view of the principle laid down by the allahabad high court itself in the case of raghubar dayal ram ..... orderper shri prakash narain, accountant member - the original assessment in this case was made under section 143(1) of the income-tax act, 1961 (the act) on 24-10-1976 on an income ..... agree with the findings of the commissioner (appeals) that in view of the decision of the allahabad high court in the case of madho prasad (supra), the income of the assessees wife has to be assessed in his assessment as the ito has done. ..... the assessee an opportunity of being heard and following the decision in the case of madho prasad (supra), he made the assessment on 28-3-1980 by including the sum of rs. .....
Tag this Judgment!Court : Allahabad
Reported in : [2008]296ITR404(All)
..... in this view of the matter she had not filed the return; moreover the penalties imposed under section 18(1)(c) of the act in respect of the assessment years 1975-76, 1977-78 and 1979-80 have been cancelled, which orders have become final. ..... as the said returns had been filed late by 98 months in the case of the assessment year 1974-75, penalties under section 18(1)(a) of the act were imposed on the assessee as follows, as in the opinion of the wealth-tax officer, there was no reasonable cause for the late submission of the returns in question: assessment year penalty imposed 1973-74 rs. ..... the finding of the tribunal in the assessment year 1975-76 cancelling penalty imposed under section 18(1)(c) of the act is indicative of the fact that the assessee was prevented by reasonable cause on the basis of bona fide belief in filing belated returns for the assessment years under appeal. ..... in respect of the assessment years 1973-74 and 1974-75 her wealth-tax returns were due on august 15, 1973, and july 31, 1974, respectively, but the returns were filed by the assessee on november 12, 1981, in respect of both the aforesaid assessment years, declaring wealth of rs. ..... that in the previous year relevant for the assessment year 1973-74, the national savings certificates of rs. ..... moreover, in the assessment year 1975-76, in the similar circumstances, penalty imposed under section 18(1)(c) of the act was deleted and in the subsequent assessment years, i.e. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2004]269ITR251(P& H)
..... of income-tax (appeals) and the tribunal in their orders in the assessment years 1989-90 and 1990-91 after appraising the evidence on record, have given detailed reasons for rejecting the estimate of cost of construction made by the assessing officer and for accepting the report of the registered valuer. ..... commissioner of income-tax (appeals) observed that although, in the relevant two assessment years, no books of account had been maintained, yet in view of his findings in the assessment years 1989-90 and 1990-91, that the report of the registered valuer filed by the assessee being comprehensive and scientific was preferable to the report of the district valuation officer, no addition was called for in the assessment years 1987-88 and 1988-89.8. ..... in this factual back-drop, the assessing officer also initiated proceedings under section 147 of the act for assessing the unexplained investment as per the district valuation officer's report for the assessment years 1987-88 and 1988-89 to which the present ..... during the course of proceedings relating to the assessment years 1989-90 and 1990-91, the assessing officer referred the matter of valuation of the cinema building owned by the assessee to the district ..... bench, amritsar (for short 'the tribunal'), dated september 19, 2003, whereby its appeals against the order of the commissioner of income-tax (appeals) (for short 'the cit(a)'), dated february 10, 1999, for the assessment years 1987-88 and 1988-89, have been dismissed.2. .....
Tag this Judgment!Court : Delhi
Reported in : (1984)41CTR(Del)90; ILR1984Delhi234; [1984]149ITR682(Delhi)
..... 72(3) the loss other than from depreciation is eligible for being carried forward and set-off only for a period of eight assessment year immediately succeeding the assessment year for which the loss was first computed; in the case of unabsorbed depreciation allowance, there is no such time-limit. ..... as regards the loss computed for the assessment year 1970-71, it was submitted that it had two parts, viz. ..... the assessed in the appeal taken to the aac contened that against its total income for assessment year 1970-71, the following brought forward losses should be allowed to be adjusted : _______________________________________________________________________assessment years loss determined----------------------------------------------------------------------rs.1968-69 1,14,6661969-70 80,100-------------total : 1,94,766.-------------4. ..... before the tribunal it was conceded on behalf of the assessed that the loss originally determined for the assessment year 1968-69 had since been converted into a positive income and, thereforee, there was no question of adjusting any carried forward loss from that year. ..... for the immediately preceding assessment year, its total income had been assessed at a new loss of rs. ..... for the assessment year 1970-71, it was assessed on a total income of rs. ..... act, 1961 (hereinafter referred to as 'the act'), did not allow the assessed-firm the benefit of the carry forward loss in the assessment year 1970-71. .....
Tag this Judgment!Court : Delhi
Reported in : [1989]30ITD165(Delhi)
..... so placing reliance on an order passed for the assessment year 1967-68 to decide an issue for the assessment year 1980-81 appear to us to be far removed in point of ..... next objection taken in the grounds of appeal was against setting aside the assessment on the point of interest on sticky advances directing the income-tax officer to re-examine the position of interest in the light of the order passed for the assessment year 1979-80. ..... apart we are now in the assessment year 1980-81 roughly 14 years thereafter. ..... before us is able to throw any light on as to what happened in the assessment year 1967-68. ..... not exactly know what has happened in the assessment year 1967-68. ..... with him mostly was that he considered this matter in the appeal relating to the assessment year 1967-68. ..... was made earlier in the assessment year 1967-68. ..... even though the note did not bear the signature of any one appearing on behalf of the assessed, still a noting made by a public officer in the course of the discharge of his duties was evidence in itself about its contents and no further proof is necessary to prove the contents unless a strong evidence comes forth ..... while the commissioner (a) allowed the claim of the assessed on the ground that this provision was in respect of an ascertained liability, which arose during the accounting year under appeal, the grounds of appeal states that the commissioner (a) had not ascertained the full facts relating to the liability provided for and thereforee its allowance was .....
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