Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1987)20ITD209(Pat.)
..... given.subsequently, for this assessment year, the ito took reassessment proceedings. the reason recorded by the ito for the issue of notice under section 148 of the income-tax act, 1961 ('the 1961 act') was that he had occasion to critically examine such a deduction claimed in respect of advertisement expenses for the assessment year 1963-64 and it ..... 3,212. thereafter, the ito found that the rent fixed by the government was rs. 4,658 per month and he initiated reassessment proceedings under section 147(a) of the 1961 act, to bring to tax the difference. the tribunal held that the assessee could not be said to have failed or omitted to disclose all material facts ..... to disclose truly the value of the agricultural land, the net wealth chargeable to tax had escaped assessment. the wto initiated proceedings under section 17(1)(a) of the wealth-tax act, 1957 ('the act') to assess the the wealth that had escaped assessment. the reassessment for both the years were completed by the wto on 19-5- .....
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 : (1996)56ITD194(Pat.)
..... sum of rs. 21,27,993 should be added to the net profit as per profit & loss account for determining the "book profit" under section 115j of the act.2. section 115j of the act was applicable from the assessment years (a.y.) 1988-89 to a.y. 1990-91. we are concerned here with a.y.1989-90, ..... contingent liability properly ascertained and discounted on an accrued basis as falling on the assessee in the year of account, could be deducted either under section 28 or under section 37 of the act. we find that here, the specific matter under consideration was gratuity. it was a situation where payment was made on retirement of termination of ..... accuracy. this decision was referred to subsequently in the case of shri sajjan mills ltd. (supra)where the law before introduction of statutory restrictions under section 40a(7) of the act. regarding gratuities were being considered. it was held that contingent liabilities did not constitute expenditure and cannot be the subject-matter of deduction even under .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1996)56ITD544(Pat.)
..... or belief had not been communicated by such other partner to the assessing officer in the prescribed manner.9. thereafter, the assessing officer passed orders under section 186(1) of the act for both the years, cancelling registration of the firm. the language of the two orders is identical. the assessing officer repeated the contents of the ..... two agreements, the assessing officer sent a notice to the assessee dated 17-2-1984 to show cause why the registration should not be cancelled under section 186(1) of the act for assessment years 1979-80 and 1980-81. he referred to the above mentioned two contracts and also noted that the partners of the assessee firm ..... . (supra) is not applicable. in durga prasad candy prasad's case (supra) the question was cancellation of registration under section 23(4) of the indian income-tax act, 1922 (corresponding to section 144 of the income-tax act, 1961). it was held that the cancellation was in the nature of a penalty and the penalty can be imposed even .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)64ITD37(Pat.)
..... any person or authority and it is for this purpose that the legislature has enacted and empowered the tribunal as per the provisions of sub-section (6) of section 255 of the it act, 1961. this is precisely what i have done. in law it is not incumbent upon any judge or tribunal member while discharging judicial function ..... examination. he, therefore, formed a belief that income chargeable to tax for the assessment year 1989-90 had escaped assessment. accordingly, a notice under section 148 of the act was issued on 6-1-1992 for the assessment year 1989-90. the assessee did not furnish the return but filed a letter requesting to treat the ..... could place full, relevant and important facts commencing from the filing of the original return till the completion of the reassessment proceedings pursuant to notice under section 148 of the act. the assessment records were, therefore, directed to be produced for examination and verification of true facts. but as recorded by me earlier elsewhere above, .....
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 : (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)63ITD181(Pat.)
..... in a civil court, they alia, in the matter of issuing commissions. in this connection, reference could also be advantageously made to the provisions of sub-section (6) of section 133 of the act which permits an assessing officer as follows :- "133. power to call for information. - the (assessing officer), the deputy commissioner (appeals), the (deputy ..... the above-mentioned i.t. appeals we refer below given two points for determination by the third member in accordance with the provisions of sub-section (4) of section 255 of the act and we request the hon'ble president for making suitable reference :- "1. whether, on the facts and in the circumstances of the case, ..... of the dvo on the cost of construction should be the basis for making addition as undisclosed income of the assessee from some undisclosed sources under section 69 of the act. their lordships of the rajasthan high court in the said case of pratapsingh amrosingh rajindra singh and deepak kumar (supra) were not considering whether .....
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 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1997)63ITD237(Pat.)
..... brother (am) taking a view that the assessee was prevented by a reasonable cause in getting the accounts audited in time in accordance with the provisions of section 44ab of the it act, 1961 for both the years under appeal and, therefore, upholding the cancellation of penalties by the appellate commissioner (a/c) which were levied by the ..... to prove the existence of reasonable cause for the failure or contravention. thus, after 10-9-86 that is to say upon the insertion of section 273b in the it act shifted the burden of proof from the revenue to the person charged for the alleged offence or contravention in respect of various obligations and mandates contained ..... impressed with this argument. it is not known how the assessing officer processed that explanation and what reasons prevailed upon him for not imposing penalties under section 271b of the act on the assessee for those two subsequent years. this tribunal is not bound to follow and obey the orders passed by the assessing officer who .....
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