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indore Construction (P) Ltd Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Indore

..... separately at a flat rate of 60 per cent. an appeal against the order can be filed directly before the tribunal." 16. in the explanatory note (para 39.2) on finance act, 1995, the cbdt in circular no. 717 dt. 14th august, 1995 [(1995) 215 itr (st) 70, 95], it is stated, thus : "in order to make the procedure of ..... the assessments completed unless some direct evidence comes to the knowledge of the department as a result of search which indicates clearly the factum of undisclosed income. the scheme of chapter xiv-b does not give power to the revenue to draw the presumption in regard to the undisclosed income. he submitted that in the case of the assessee-company, ..... . relying on the decision of gujarat high court in cit vs.deepak family trust no. 1 & anr. (1995) 211 itr 575 (guj) and cit vs.smt. godavaridevi saraf (1978) 113 itr 589 (bom), shri sarda submitted that the decision (supra) of the kerala high court being the solitary decision on the point, the law declared by the kerala high .....

Malwa Texturising (P) Ltd. and ors. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (2002)77TTJIndore995

..... under section 158bc was challenged as illegal, arbitrary and without jurisdiction. in the meantime government of india started kvss, 1998, which was introduced by finance (no. 2) act, 1998.the assessee opted for this scheme in terms and provisions of this scheme and submitted a declaration under section 88 in the prescribed form ..... of v. bhaskaran v.asstt. cit (supra) is not correct interpretation and submitted that same requires reconsideration by the tribunal. he submitted that chapter xx of the act which deals with appeals and revisions has five sections, out of which part a deals with appeals before deputy commissioner (appeals) and commissioner (appeals ..... appeals before high court and supreme court and revisionary powers of the commissioner. according to this arrangement, though appeals and revisions have been included in one chapter but separate sub-parts deal with different subjects and each part is independent. therefore, provisions of section 249(4) which appear in part a cannot .....

Malwa Texturising (P) Ltd. and Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Indore

..... made under section 158bc was challenged as illegal, arbitrary and without jurisdiction. in the meantime government of india started kvss, 1998, which was introduced by finance (no. 2) act, 1998.the assessee opted for this scheme in terms and provisions of this scheme and submitted a declaration under section 88 in the prescribed form to the ..... in case of v. bhaskaran v.asstt. cit (supra) is not correct interpretation and submitted that same requires reconsideration by the tribunal. he submitted that chapter xx of the act which deals with appeals and revisions has five sections, out of which part a deals with appeals before dy. cit(a) and cit(a) starting ..... , appeals before high court and supreme court and revisionary powers of the cit. according to this arrangement, though appeals and revisions have been included in one chapter but separate sub-parts deal with different subjects and each part is independent.therefore, provisions of section 249(4) which appear in part a cannot be applied .....

Maya Spinners Ltd. Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Indore

..... the audit report is received and nothing more. 16. we now consider the amended clause (iii) of explanation (1) to section 153, which has been introduced by the finance act (no. 2), 1996 and effective from ay 1997-98. as per this amendment, the situation where no audit report is submitted has been covered by substituting the words ' ..... because the time taken for furnishing the audit report is excluded only if the report of such audit is furnished. in order to overcome this problem, the finance (no. 2) act, 1996, provides that the period commencing from the date on which the assessing officer directs the assessee to get his accounts audited and ending on the date ..... high court in the case of cit v. dhariwal sales enterprises reported in 221 itr 240 has held as under: the assessee firm's original assessment for the assessment year 1978-79 was completed on september, 29, 1981. on appeal by the assessee, the commissioner of income tax (appeals) directed the income-tax officer to do the assessment .....

Dy. Cit Vs. Shree Synthetics Ltd.

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (2004)88TTJIndore717

..... representative submitted that case law relied on by the learned authorised representative were no more applicable in view of the latest provisions of section 14a which was inserted by finance act, 2001. he further submitted that this provision has been made specifically applicable with effect from 1-4-1962. as far as dilution of this section by circular ..... case of assessee. he further submitted that section 14a would not hit assessee's case because it applies only to the situations where income has been computed under chapter iv. he further submitted that it should be held that section 14a is prospective. he also referred to pages 2822 and 2823 of commentary of income-tax ..... where the expression 'attributable to' was used instead of the expression 'derived from'. he further noted that supreme court in cambay electric supply co. ltd. v. cit (1978) 113 itr 84 (sc) had observed that the expression 'attributable to' in section 80-e (now section 80-i) is of wider import and since the expression of .....

income-tax Officer Vs. Motilal Rakhabchand

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (2003)86ITD637Indore

..... a) on the other. thus, "publication", "circulation", "in the prescribed manner", "for general information" do not cover within their sweep anything relating to chapter xx relating to appeal, revision, etc. of the act.it may be concluded by submitting that the orders referred to in clauses (b) and (c) of sub-section (2) have for their object, avoiding ..... are contained in both sub-sections (1) and (2) of section 119 as comprised in chapter xiii of the income-tax act,1961, which chapter is titled as "income-tax authorities". the said section 119 is grouped in part-a of the said chapter of which the sub-title is "appointment and control" and the title of section 119 itself ..... of appeals to the appellate tribunal as in sections 252 to 255 part-b of the said chapter. hence, it is very clear that the orders, etc. of the board cover & the entire act while section 119(2) does not expressly cover chapter xx-b containing sections 252 to 255. one more vital difference, as mentioned earlier between sub- .....

D and H Secheron Electrodes (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (1997)60ITD27Indore

..... , according to which, 'gross total' income means the total income computed in accordance with the provisions of this act, before making any deductions under this chapter vi-a. he pointed out that though section 80ab was inserted by the finance (no. 2) act, 1980 w.e.f. 1-4-1981 but it has been held to be retrospective in nature in view ..... , for the purpose of computing the deduction under that section, the amount of income of that nature as computed in accordance with the provisions of this act (before making any deduction under chapter vi-a) shall alone be deemed to be the amount of income of that nature, which is derived or received by the assessee and which is ..... [1981] 132 itr 34/6 taxman 244. in cambay electric supply industrial co. ltd. v. cit [1978] 113 itr 84, the supreme court held that before deduction is made under section 80e as it stood prior to the amendment by the finance (no. 2) act, 1987, income from business in view of section 29 has to be computed in accordance with sections .....

D and H Secheron Electrodes Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (1999)70ITD214Indore

..... therein the indirect benefits derived by it through the joint ventures and reasons for loss e.g. increase in market competition, paucity of funds, non-availability of bank finance etc. (c) these joint ventures are assessed to tax at bombay (copies of intimations under section 143(1)(a) for assessment year 1989-90 are available ..... amount of depreciation has to be adjusted for this purpose. reference was made to decision of the apex-court in cambay electric supply industrial co. ltd v. cit [1978] 113 itr 84. (i) the commissioner has not set aside the assessment order in toto. he has partially set aside the assessment. (ii) mere application of ..... suffered an error inasmuch as the impugned amount was erroneously allowed as deduction instead of its treatment being accorded as per the provisions of section 43a of the act. the error was undoubtedly prejudicial to the interests of revenue. the commissioner was, therefore, within his powers to exercise his revisionary jurisdiction on the ground that .....