Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)6ITD126(Mum.)
..... that the deduction under section 80k was required to be made if the total income was computed in accordance with the provisions of the act before making any deductions under chapter vi-a of the act. the aac omitted to take into consideration the position that section 11 deals with the amount of income that should not be included ..... income of an assessee, there shall be allowed from his gross total income, in accordance with and subject to the provisions of chapter vi-a, the deductions specified in sections 80c to 80vv of the act. it was submitted that the exemption was provided in respect of all the assessees. where the legislature wanted to make any ..... the provisions of the act, before making any deduction under chapter vi-a or section 280-o of the act. further, it is submitted that relief in respect of the company dividends was admissible to the trusts under section 85 of the act prior to its substitution by the present section 80k by the finance (no. 2) act, 1967, with effect .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1985)11ITD537(Mum.)
..... page 7, wherein it has been mentioned that rs. 1,25,000 was given to the assessee on 13-1-1978 which included 102 notes of rs. 1,000 each and as the firm has been carrying on sarafi/finance business mostly on high denomination notes, as such it is impossible to correlate the receipts of the notes with a ..... satisfied with the reasoning advanced by the assessee and since the addition was over rs. 1 lakh, he made a draft order under section 144b of the income-tax act, 1961 ('the act'), 3. the iac considered the objections of the assessee filed against the draft order. the iac in his directions to the ito, observed thus : in the declaration ..... the explanation if one is furnished, and examine the evidence and the explanation. if the explanation shows that the receipt was not of an income nature, the department cannot act unreasonably and reject that explanation to hold that it was income. if, however, the explanation is unconvincing and one which deserves to be rejected, the department can reject .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1995)52ITD39(Mum.)
..... registration of the deed so effected would be the crucial date with reference to which the applicability or otherwise of chapter xx-a of the income-tax act would be determined.28. the next decision to which our attention is drawn by the learned departmental representative is ..... the tribunal both in the case of the assessee, as well as in the case of his brother, for the assessment years 1978-79 and 1979-80 and 1976-77 to 1979-80, respectively, are correctly decided and we answer the question referred to us ..... p.m. mistry, was the appellant and also income-tax appeals nos. 5961 and 5962/(bom) of 1983, relating to the assessment years 1978-79 and 1979-80 in the case of this very assessee ; 5. the earlier order of this tribunal 'b' bench, dated march 1 ..... is march 31, 1980 ?" 20. in the order of reference it is stated that in the income-tax appeals for the assessment years 1978-79 and 1979-80 (income-tax appeals nos. 5961 and 5962/(bom) of 1983) which represent the appeals of the assessee's brother .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2000)74ITD369(Mum.)
..... the last argument raised by the learned counsel is an important contention raised before us and gives a new dimension to the entire gamut of the provisions of chapter xvii of the act. as per s. 191 there is a mandate on the taxing authority to recover tax which is not deducted only from the assessee and not from the payer ..... (sc), cit vs. shahzada nand & sons & ors. (1966) 60 itr 392 (sc) and (1978) 108 itr 345 (sc) (supra). in the present case, we are dealing with chapter xvii of the act. the chapter is entitled as "collection and recovery of taxes". as the title itself suggests the chapter contains machinery provisions and does not deal with substantive law of creating a charge. it ..... . 201 does not contain express provision as are contained in s. 206c(6), s. 179 and s. 161(1) of the act. in view of the above discussion, it is clear that tax which is not deducted under chapter xvii cannot be recovered from payer of the income and that such tax has to be recovered from the assessee direct.15 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2002)81ITD212(Mum.)
..... the words 'does not deduct'. similarly, in sub-section (1a) in section 201, similar amendment has been brought with retrospective effect. as per the notice to clause 68 to the finance bill, 2001, it is clarified as under at (2001) 248 itr 145 (st): "it is proposed to clarify that provisions of ss. 201(1) and (1a) shall apply whether ..... cft v. u.k. vaidya (1995) 224 itr 186 (kar) and after taking into consideration the decision of madras high court in addl cit v. late a.k. lakshmi & ors. (1978) 113 itr 368 (mad) treated the assessee in default in respect of the short-deduction of tax at source under section 201(1). in regard to foreign tour expenses, the ..... any case, it should be a carefully weighed judgment. the estimate should in any case be based on bona me belief which implies accepting of something as true or actual acting in good faith. it is primarily a factual finding.10. in regard to interest-free loans to employees the ao has mentioned in his order that there were conflicting .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD633(Mum.)
..... the decision of the gujarat high court in cit v. ochhavlal laljibhai dharia [1980] 125 itr 301. that was a case of acquisition of property under chapter xxa of the income-tax act. the question in those proceedings would be the fair market value of the relevant property. the presumption with reference to the fair market value could be ..... which is contrary to the position he canvassed. with regard to the fact that the commissioner (appeals) came into the statute only as an authority from 10-7-1978, he submitted that it made no difference because, firstly, the date from which a provision comes into effect is not decided by the parliament but by the government ..... away and vested in the commissioner (appeals). he pointed out that this was factually erroneous because the commissioner (appeals) was authorised to hear appeals only from 10-7-1978. so, none of the contentions regarding appeal, revision or rectification had relevance.what the court has to do is to construe the law as on 1-1-1976. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)8ITD157(Mum.)
..... 80k and 80t. it was also pointed out by shri mehta that section 80ab of the act introduced by the finance (no. 2) act, 1980, with effect from 1-4-1981, laid down that any deduction required to be made under chapter via of the act, except under section 80m, shall be worked out with reference to the amount of the ..... to deduction under section 80m which is computed in accordance with the provisions of the act and not with reference to the gross amount of the dividends, section 80ab dealing with the other deductions under chapter via, inserted also by the finance (no. 2) act, 1980, is not retrospective but comes into effect from 1-4-1981. the assessment ..... year under appeal before us is 1977-78 and, therefore, the provisions of section 80ab, introduced by the finance (no. 2) act, 1980, with effect from 1-4-1981 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)10ITD151(Mum.)
..... capital gains' is a loss and the assessee has no income under the head 'capital gains', as in this case, the assessee shall, subject to the provisions of chapter vi of the act, be entitled to have the amount of such loss set off against his income, if any, assessable for that assessment year under any other head. the words, that ..... 78, the assessee had a loss computed under the head 'profits and gains of business or profession' and he had also income from 'other sources'. for the assessment year 1978-79, he had a positive income under the head 'profits and gains of business or profession' and also income under the head 'income from other sources'.the assessee claimed ..... interference with the order of the aac is called for. the departmental appeal for the assessment year 1967-68 is dismissed.6. for the assessment years 1977-78 and 1978-79, the department has challenged the aac's order to the extent he permitted the assessee to carry forward the loss from business for the first year instead of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2002)81ITD314(Mum.)
..... upon the decision of hon'ble jurisdictional high court in the case of s.k. manekia v. cst 1978 tlr 1625. he pointed out that in this case the assessee had challenged the service of notice. in the st act, chapter xi of the rules deal with service of notice. rule 47 provides the mode of service and there also ..... seized or requisitioned shall be handed over, to the ao having jurisdiction over such other person and that ao shall proceed against such other person and the provisions of this chapter shall apply accordingly." from a plain reading of the above section, it is clear that the above section can be invoked (i) where the ao is satisfied, ..... jurisdiction over the assessee, issued notice under section 158bd on 5th march, 1998, i.e., just within 3 days. therefore, the ao having jurisdiction over the assessee has acted very promptly. the learned counsel for the assessee has pointed out that the satisfaction note was recorded by the dy. cit, hyderabad, after one year of section 158bd proceedings .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2002)83ITD102(Mum.)
..... ao has not given any fresh findings regarding the undisclosed income and has not justified that the additions made are valid in accordance with the provisions of chapter xiv of the act. he further stated that the ao failed to obtain any information by making any enquiries which were necessary as per the provisions of section 142(2) ..... books of account of the assessee till the date of search to show that the amount relates to the commission. thus, the ao has stated that since the financing arrangement was not proved from seized papers or other contemporary documents, the income declared under section 132(4) from the film by the partner has to be considered ..... per cent overflow received by the producer. these facts were also, confirmed by shri keshu ramsay in statement given under section 131 in 1996. however, the agreement regarding financing is not available in seized documents. however, loose papers 1 to 11 seized in annexure a-2 from assessee's office on 25th aug., 1995, shows the business .....
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