Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1997)63ITD87(Pat.)
1. The assessee has three grievances in this appeal which are as under :- 1. Confirmation of a sum of Rs. 87,000 as income from undisclosed sources under section 68 of the Act. 2. Retention of a sum of Rs. 15,000 as against Rs. 20,800 made by the Assessing Officer (A.O.) on account of low withdrawal for household expenses.2. As regards the third grievance it was brought to the notice of the assessee's counsel that there is no decision whatsoever by the Appellate Commissioner (A/C) and, therefore, this ground does not arise from out of the impugned order of the A/C. However, after some discussion it was decided that instead of sending the matter back to the A/C for rendering a decision on the ground taken in the first appeal regarding levy of interest under section 217, we direct the Assessing Officer to give a reasonable opportunity of being heard to the assessee before charging interest under section 217. The third ground is disposed off accordingly. The assessee maintains personal a...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1993)45ITD61(Pat.)
1. These two cross appeals were filed objecting certain decisions of the ld. CIT (Appeals) in his order dated 30-6-1992. The assessee objected to the disallowance of Rs. 22,742 paid as interest and the revenue objected to the deletion of addition made under Sections 69 & 69A(sic) of the IT Act, 1961 (hereinafter naming of the Act is omitted).2. The assessee is an individual. He is a Director of M/s Bharat Engineering & Body Building (P.) Ltd. and one of the partners of M/s B.F. Industries. The assessee had paid interest on loans amounting to Rs. 22,742 during the year. The parties to whom the interest was paid were as follows:- 5. V. Dayal Khuntelal Rs. 8,676 ----------- The payment of these interest was claimed as deduction from income earned by the assessee. The Assessing Officer disallowed the claim as according to him the claim does not satisfy the conditions of Section 57(iii). He had given various reasons which can shortly be described as follows:- He pointed out that th...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2007)110TT(JP.)at366
1. In all these appeals filed by the Department as well as the assessees, the main issue involved is fraudulent withdrawals from Animal Husbandry Department (AMD), Government of Bihar, in the fodder scam. Therefore, all these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience.2. The brief history of the case gathered from papers brought on record and submissions made is that Shri Dipesh Chandak was engaged in the criminal conspiracy of systematic fraudulent withdrawals of funds from the State Exchequer in connivance with the officials of AHD, Government of Bihar, and others. The modus operandi to facilitate this was that purchase orders were placed by AHD on the assessee for supply of feed to the Department. The assessee in turn would raise bogus bills of supply of feed on the Department without actually making them. In support of these supplies, the assessee would raise fictitious purchase vouchers as if purchases have actuall...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2007)104ITD382(Pat.)
1. This appeal is by the assessee against the order of CIT passed Section 263 in respect of assessment year 2002-03. (1) For that the Learned CIT has erred in invoking powers Under Section 263 of the I.T. Act. (2) For that the learned CIT has erred in invoking powers Under Section 263 and setting aside the order passed by the Assessing Officer with a direction to make assessment afresh on the basis of show cause notice dated 19.10.2004 (copy enclosed) which was not even signed by him. (3) For that the learned CIT has gone beyond the allegations contained in notice dated 19.10.2004 while passing order Under Section 263 dated 24.11.2004 and thus has exceeded the jurisdiction by not limiting himself to the allegations in the show cause notice. (4) For that the order passed is violative of principles of equity and natural justice and as such fit to be quashed. (5) For that the learned CIT has erred in making adverse observation with regard to order Under Section 154 dated 27.1.03 in the i...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)67ITD89(Pat.)
1. This appeal is directed against the order of the CIT (Appeals) dated 1-5-1991 for the assessment year 1986-87. The grounds taken by the assessee read as under :- (1) The CIT (A) erred in law in upholding the action of the Asstt. CIT in assessing capital gain relating to short-term capital assets amounting to Rs. 1,00,250 as non-investment income instead of assessing it as investment income under the provisions of Chapter XIIA of the Act. (2) The Asstt. CIT be directed to assess short-term capital gain as investment income under the provisions of Chapter XIIA and modify assessment accordingly.2. The gross total income of the assessee included the following items :- (As per statement C enclosed) Rs. 40,552 II. Capital gains : enclosed) Rs. 1,00,250 III. Income from other sources : enclosed) Rs. 13,287 (ii) Bank interest on NRO A/c. with Indian Bank - --------------- Gross Total Income Rs. 1,76,611 --------------- The issue raised in this appeal relates to the rate at which the short-...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1999)70ITD77(Pat.)
1. This appeal by the assessee is under s. 253(1)(b) against the order dt. 27th December, 1996 of the Dy. CIT, Spl. Range, Jamshedpur passed under s. 143(3)/158BD of the IT Act.2. There was a search and seizure operation under s. 132 of the Act on 8th December, 1995 in the residential and business premises of Mr. N.D. Kamani, Mr. H. S. Grewal, Mr. Sanjeev Kapila and their family.During the course of that search operation in the residential premises of Mr. H. S. Grewal situated at 4-IC Road, Bistupur, Jamshedpur a bunch of loose sheets with identification mark HS-8 was seized from his possession. The AO noted that D. M. Kamani (HUF) had developed and constructed 18 flats at 4-IC Road, Bistupur, Jamshedpur during the period 1987-91 and out of which 16 flats were sold to different parties through agreement of sale. One of the flats was sold to Mr. H. S.Grewal vide agreement dt. 10th June, 1989. The document marked as p.No. 34 of the bunch of loose sheets marked as HS-8 seized from the po...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)65ITD1(Pat.)
1. By this Reference Application presented on 12th January, 1995, the Revenue has required the Tribunal to refer the following questions, said to be of law and arising out of the order of the Tribunal passed on 29th November, 1994 in ITA No. 264/Pat/1990, to the Hon'ble High Court of Judicature for its esteemed opinion : "1. Whether, on the facts and in the circumstances of the case, the assessee being a registered firm was liable to pay penalty under s. 271(1)(a), r/w s. 271(2) even though the assessed tax within the meaning of Expln. to s. 271(1)(i) of the Act was a negative figure 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in confirming the order of the Asstt. CIT by reversing the order of the CIT(A) ?" 2. We are not inclined to refer the abovementioned two questions because this Tribunal, while allowing the Revenue's appeal have considered the decisions relied upon by the assessee's counsel which are enumerated in para 5 of the Tribunal's...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)64ITD93(Pat.)
1. This is an appeal, filed by the Department and a Cross Objection (C.O.), filed by the assessee. They are being disposed of by a common order for the sake of convenience.2. The departmental appeal is directed against an order of the CIT(A) deleting the addition of Rs. 1,25,000 as cash under section 68 of the Act, in the names of 12 person, 6 of whom were minors, as listed below :12. Rabindra Kumar Singh Rs. 11,000 ------------ 3. The Assessing Officer (A.O.) observed in the assessment order that the assessee had furnished confirmations of all the creditors who were being assessed to income-tax at Calcutta. However, a perusal showed that the deposits were unaccounted money of the partners. The creditors had given a common address at 10, Ezra Street, Calcutta, which was actually the office address of the Chartered Accountant of the whole group. The parents of the minors were also the creditors and had given their addresses as Maharani Road, Gaya. The Assessing Officer took a view that...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2004)90ITD90(Pat.)
1. The appeal of the Revenue and the cross objection of the assessee for the assessment year 1993-94 were heard by Division Bench at Patna.As a result of difference of opinion of the two Members of the Bench, the Hon'ble President has nominated me as Third Member for a decision in regard to the point of difference between the Ld. Members. The following points have been identified in respect of which there is difference of opinion between the ld. Members:- (1) Whether on the facts and circumstances of the case and in law the CIT(A) has erred to hold that reopening of the assessment Under Section 147 of the I.T. Act is unjustified and bad in law? (2) Whether on the basis of material collected for the asstt. year 1994-95 that certain creditors were bogus reopening of the assessment for the asstt. year 1993-94 can be made Under Section 147 of the I.T. Act? 2. Parties have been heard and record perused. In order to recapitulate, the relevant facts may be reiterated. The assessee is engaged...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2004)84TT(JP.)at570
1. It is a Departmental appeal against the order dt. 16th April, 1996 of the CIT(A). The assessment was reopened under Section 147 on 14th March, 1995. The reasons recorded by the AO are reproduced below : "In course of inquiry for asst. yr. 1994-95 following persons were found to be non-existent : transaction with certain other persons like Satpal Singh, Mazid Khan, etc. have been found to be non-genuine. I have reason to believe that the income of the assessee has escaped assessment. Issue notice under Section 148 of the IT Act. Though a list of sundry creditors were disclosed in the return of the income but notice under Section 148 is being issued in View of the enquiries which revealed that transactions with the abovementioned sundry creditors were non-genuine or bogus or does not represent correct nature of transaction and the notice is being issued in view of this new facts and fresh information and in view of the decision of the Supreme Court in case of Phoolchand Bagranglal v....
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