Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)65ITD24(Pat.)
..... carrying on of a business is an essential ingredients of the partnership. since the partnership has been assigned the same meaning by section 2(23) of the income-tax act as given in section 4 of the indian partnership act, the condition of carrying on of business must be fulfilled for taking the status of an assessee as a firm.11. ..... he further submitted that an appeal filed on the ground of status of the assessee would be valid appeal as per section 246 of the income-tax act.9. the ld. departmental representative (d.r.) on the other hand, supported the order of the ld. cit (appeals). she submitted that since the ..... on by it in the assessment year in question. he referred to the provisions of section 2(23) of the income-tax act and section 4 of the indian partnership act, and added that in view of the definition of partnership, as given in these two sections, there could not be any partnership without fulfilling the condition of carrying on business.8. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)64ITD93(Pat.)
..... the ito fails to make proper enquiries then the order passed by him is erroneous causing prejudice to revenue and, therefore, commissioner can step in under section 263 of the act and correct such an order by setting aside the said assessment order with direction for redoing the assessment.11. the jurisdictional patna high court has also ..... those papers do not constitute sufficient proof of ladies and minors having explained source ultimately leading to the conclusion that the burden stood discharged in terms of section 68 of the act. in my view, i repeat, the same does not constitute valid, legal and reliable evidence establishing genuineness of loans nor on the basis of such ..... credits made by giving account payee cheques. these deposits were also treated as unexplained. an addition of rs. 1,25,000 was, accordingly, made under section 68 of the act.5a. the assessee submitted before the cit(a) that all the above persons were assessed to income-tax for more than 10 years and the returns had .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1997)63ITD257(Pat.)
..... that he could pass at that time; as otherwise the assessment would have been wholly time-barred. the ito had also the power to act either under section 147(b) or section 154 of the act after receiving the copy of the order of the valuation officer." thus, it is clear that on the basis of the valuation report, ..... of the time of finalisation of assessment is deemed as income from undisclosed sources of the assessee under the deeming provisions contained from sections 68 to 69d of the act particularly section 69 of the act in the instant case (9) whether the accountant member is justified is rendering his decision on the issue relating to framing of ..... at the time of finalisation of assessment is deemed as income from undisclosed sources of the assessee under the deeming provisions contained from sections 68 to 69d of the act particularly section 69 of the act in the instant case (9) whether, the accountant member is justified in rendering his decision on the issue relating to framing of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)67ITD174(Pat.)
..... apparent from record. she added that in the original assessment the aforesaid 3 items had wrongly been included for the purpose of computation of deduction under section 32ab of the it act. she contended that there was no debatable issue involved in the case because the 3 items in question were apparently not includible for the purpose ..... he contended that there was no justification for withdrawal of the deduction allowed merely on the basis of change of opinion and views by an order under section 154 of the it act. he relied on the supreme court's judgment in the case of volkart bros.(supra).11. the ld. counsel reiterated the submissions made before the ..... the manner provided. accordingly, the audit comment is not correct in stating that the amount of rs. 18,54,101 calculated and allowed in assessment under section 32ab of the act is not correct." 4. the assessing officer considered the aforesaid reply of the assessee and rejected the same after making the following observations : as per the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1997)63ITD113(Pat.)
..... these 3 appeals have been referred to me by the hon'ble president of the 'appellate tribunal' for my opinion as a third member under sub-section (4) of section 255 of the it act, 1961, since the learned members who originally heard them did not concur with each other. the points of difference referred for my opinion run as under ..... matter referred to supra, itself concluded the issue in favour of the assessee leaving no necessity to go into the legislative purpose of the enactment of section 40 of the finance act, 1983, etc. nothing short of the reversal of this view by an appropriate legal forum could create a dent in the finding of the tribunal ..... that it was held that the income from the godowns should be assessable under the head 'business'.7. having noticed the factual background, the background in which section 40 of the finance act, 1983, was enacted, should also be noticed. the following paragraph from the budget speech of the finance minister, 1983-84, available in 140 itr page 25 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2004)84TT(JP.)at547
..... facts for his assessment for any assessment year. non-disclosure of material facts by the assessee becomes relevant when an assessment made under sub- section (3) of section 143 of the act or section 147 is sought to be reopened after expiry of 4 years from the end of the relevant assessment year. the words "escaped assessment" used ..... a complete disclosure of all relevant facts upon which a correct assessment could have been passed.2. essential requirement for initiating reassessment proceedings under section 147 r/w section 148 of the act is that the ao must have reason to believe that any income chargeable to tax has escaped assessment for any assessment year. second limb ..... of the requirement is that the ao shall record his reasons before issuing notice as contemplated by the provisions of sub-section (2) of section 148 of the act. the requirement necessarily postulates that the ao must record his reasons in writing as to why he holds an opinion or belief that income .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1993)45ITD101(Pat.)
..... the trust. according to him, the trust is created mainly for education, a purpose which is included in the definition of charitable purpose within the meaning of section 2{15) of the act. section 2(15), as it existed at the relevant time, reads as under : "(15) 'charitable purpose' includes relief of the poor, education, medical relief ..... it would not lose its character of a charitable purpose merely because some profit arose from the activity. the definition of charitable purpose as given in section 2(15) of the income-tax act is as under : " 'charitable purpose' includes relief of the poor, education, medical relief, and the advancement of any other object of general ..... cloth manufacturers association ), their lordships of the supreme court no doubt mainly dealt with the amendment of the definition of charitable purpose given in section 2(15) of the income-tax act and held that, where the object of the trust was of " general public utility" and the predominant object of the activity was to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2004)84TT(JP.)at592
..... of the aop. the aop being a separate assessable entity is obliged to file the return of income and also pay taxes as per the provisions of the act. section 139(1) makes it obligatory for the aop to file the return of income within the prescribed time if its income exceeds the maximum amount which is not ..... of the firm. receivers were appointed for carrying on the business on behalf of the partners. it was contended before the supreme court that for purposes of section 3 of the it act, an aop must mean an association in which two or more persons voluntarily join in common purpose or common action. it was further contended that for ..... teaching college. a building was constructed at khazanchi road, patna, which was originally shown as exclusively belonging to dr. (mrs.) leela prasad. there was a search operation under section 132 of the it act, 1961 in the residential premises of dr. narendra prasad/dr. (mrs.) leela prasad and at alok nursing home. after the search, dr. narendra prasad and dr, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2004)91ITD173(Pat.)
..... association of persons.the association of persons being a separate assessable entity is obliged to file the return of income and also pay taxes as per the provisions of the act. section 139(1) makes it obligatory for the association of persons to file the return of income within the prescribed time if its income exceeds the maximum amount which is not ..... chargeable to income-tax. the assessment in the case of an association of persons is required to be made under the provisions of the act, such as section 143 or 144 and/or 147.19. as pointed out elsewhere in this order, the supreme court in the case of i.t.o. v. ch. atchaiah [(supra) held ..... it gave an option to the a.o. to levy tax on either the association of persons or the members of the association individually.on the terms of section 3 of the 1922 act, it was held that if anyone or more members of an association of persons had already been assessed to tax in respect of his or their share income .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)64ITD118(Pat.)
..... member as provided in sub-section (4) of section 255 of the act and request the hon'ble president accordingly : (1) whether, in the facts and circumstances of the case, the disallowance of loss on sale of car, amounting ..... the above reasons, the disallowance of loss in sale of car, amounting to rs. 18,093 is deleted.statement for third member reference as per sub-section (4) of section 255 of the i.t. act, 1961 as we have differed in our views in the above-mentioned i.t. appeal, we refer the below given point for the consideration of third ..... disclosed by him as consideration, and the burden of proof for showing it is on the department. in the present case, when there is no provision corresponding to section 52(2) of the act to be invoked, the decision of the hon'ble supreme court will apply with even greater force. i, therefore, hold, with respect, that the onus was on .....
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