Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2004)82TTJ(Chd.)570
..... the delay in favour of the revenue. it is not made clear as to why the ao did not file application under section 154 of the it act before the learned cit(a) as directed by the cit, patiala range. if the learned cit has not authorised the ..... directions of the tribunal. on the basis of finding and satisfaction of the ao fresh penalty proceedings could be initiated under section 271(1)(c) of the it act. however, i was informed that no action was taken on the order of the tribunal. be that as it may ..... dates or details of the orders of cit, patiala not authorising filing of any appeal, nor any information about the action taken under section 154 has been placed on record. in the above circumstances, i hold that the inordinate delay has not been properly explained and sufficient ..... by the revenue for the asst. yr. 1987-88 is directed against the order of cit(a) cancelling penalty under section 271(1)(c) of the it act of rs. 1,27,943 for claiming bogus purchases to the tune of rs. 2,56,777. the ao had .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)94TTJ(Chd.)431
..... the assessee exceeded rs. 40 lakhs per annum for the respective assessment year and accordingly, it was obligatory upon the assessee to file the audit report under section 44ab of the it act, 1961, for asst. yr.1999-2000 by 31st oct., 1999 and for asst. yr. 2000-01 by 31st oct..2000. the assessee filed the ..... return of income for the aforementioned assessment years on 31st march, 2001 alongwith audit report. the ao had accordingly initiated penalty proceedings under section 271b for both the assessment years ..... the considered view that the assessee has failed to establish reasonable cause for failure to file audit report for the respective assessment years within the period specified under section 44ab. the decisions relied upon on behalf of the assessee are distinguishable on facts insofar as no reasonable cause has been established in this case and, therefore .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)103TTJ(Chd.)573
..... finally heard or disposed off.2. the only ground raised by the revenue pertains to deleting the penalty of rs. 2,96,340 imposed by the ao under section 271(1)(c) of the act as ground nos. 2 and 3 being general in nature, requires no deliberation from our side.3. during arguments, we have heard smt. preeti garg, learned senior ..... on the following grounds: 1. that the learned cit(a)-ii, ludhiana has erred in deleting the penalty of rs. 2,96,340 imposed by the ao under section 271(1)(c) of the it act, 1961. 2. that the order of the learned cit(a) be reversed and that of the ao be restored. 3. that appellant craves leave to add or ..... builders v. asstt. cit . the expression that "has concealed the particulars of income" and "has furnished inaccurate particulars of income" have not been defined either in section 271(1)(c) or elsewhere in the act. one thing is certain that these two circumstances are not identical in detail although they may lead to the same effect, i.e., keeping of certain portion .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)108TTJ(Chd.)877
..... such manufacture for other concerns on job work basis, would constitute income derived from the manufacturing activity and thus eligible for benefit under section 80-ia of the act. in support the learned counsel has relied upon the decision of the cit v. taj fire works industries (2006) 204 ctr (mad) 108 and gorawara ..... submitted that there was no requirement in law for the assessee to manufacture a product on its own account for the purposes of claiming deduction under section 80-ia of the act. according to the learned counsel, as long as the process carried out by the assessee resulted in a "manufacture", the profits derived by undertaking ..... asst. yrs. 1997-98, 1998-99 and 1999-2000. in all these appeals the solitary issue involved is regarding denial of deduction under section 80-ia of it act, 1961 (in short 'the act') to the assessee in respect of the profits of its parwanoo unit on the ground that the assessee was not carrying out any manufacturing .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1986)16ITD452(Chd.)
..... applicable. subsequently, fresh assessment was framed and the ito allowed the depreciation on enhanced value as claimed by the assessee. in proceedings by the commissioner under section 263 of the act, the matter was looked into and assessment set aside with a direction to the ito that he will make the same afresh after working out the depreciation ..... before reconstitution and, therefore, the depreciation has to be allowed at the wdv as in the case of the firm, taking into consideration explanation 4 below section 43 of income-tax act.5. before we deal with the two high courts decisions, on which reliance was placed by the learned departmental representative, it is better, we give ..... the value of the land was not revalued. he submitted that the instant case clearly falls under the mischief of explanation 3 to section 43(l) of the income-tax act, 1961 ('the act').he also submitted that the valuation has been appreciated only by book entries and in that respect, he relied on the cases of cit .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1986)19ITD633(Chd.)
..... in this departmental appeal pertains to continuance of registration allowed by the aac which was not allowed by the ito as per his order under section 184(7) of the income-tax act, 1961 ('the act').2. the issues raised are interesting and if facts briefly in the background are narrated, the same shall be of immense assistance for adjudication ..... and in case it was so, the proof be adduced. none of these letters was cared for by the assessee.ultimately, the assessment was framed under section 143(1) of the act on 25-2-1984 accepting the total income returned by the assessee but the status assigned was that of unregistered firm which was served on the assessee ..... affidavit of the said accountant also. he submitted that filing of form no. 12 was not mandatory but directory. for that he relied on purusottam lal kishorilal v. cit [1978] 115 itr 377 (pat.).6. in the rejoinder, the learned departmental representative submitted that there was no case of delay and the aac could not condone the same.7 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1987)22ITD296(Chd.)
..... authorities to which reference was made at the time of hearing before us at the bar, pertained to assessment before 1975. now there is a specific provision. section 292b of it act, inserted by taxation laws (amendment) act, 1975, w.e.f. 1-10-1975, reads as under : 292b. no return of income, assessment, notice, summons or other proceeding furnished or ..... on 21-4-1975 seeking amendment of this assessment order under section 147(a)/ 143(3). the application was initially rejected by the ito on 30-8-1976 and the assessee went in appeal. ultimately by its order dated 16-12-1978, the tribunal directed the ito to consider the points raised by the assessee and pass a speaking ..... order.4. following mistakes in the original assessment order were pointed out in this application : that the notice under section 148 for a.y. 68-69 was issued by the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1990)32ITD636(Chd.)
..... another sum of rs. 1,000 was also excluded again observing 'director's fee assessable in the hands of the spouse under section 64(ii)'. assessment originally was framed on 23-2-1978 under section 143(3) of the act 3. subsequently, the ld. ito framed assessment order on 22-3-82, for the assessment year 1979-80, in the case ..... reason for filing the revised return was explained in the forwarding letter attached with the second return mentioning therein that on account of clause (ii) of sub-section (1) of section 64 of the act, the salary income of rs. 21,600 and director's fee amounting to rs. 1000 received by the assessee from m/s. murari woollen mills ( ..... a).6. after having heard the submissions made before the ld. cit(a), he noted the reasons recorded by the ld. ito for reopening the assessment under section 147 of the act. the said reasons, since are relevant, are being reproduced hereinbelow for ready reference:- during the relevant previous year, the assessee received salary of rs. 21,600 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1991)38ITD359(Chd.)
..... with contents of the assessee's paperbook (45 pages) have been considered and taken note of.section 115j finds mention in chapter xii-b and deals with the topic, 'special provisions relating to certain companies'. this chapter was inserted by the finance act, 1987, with effect from 1-4-1988 and reads as under:- 115 j(1) ..... required to set off against the profit of the relevant previous year as if the provisions of clause (b) of 1st proviso to section 1 of section 205 of the companies act is applicable. section 205 provides that, if the company has not provided any depreciation for any previous financial year, it shall before declaring or paying dividend ..... notwithstanding anything contained in any provision of this act, where in the case of an assessee being a company, the total income, as computed under .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1992)40ITD65(Chd.)
..... as prejudicial to the interests of revenue on such facts. the cit thus had the jurisdictional facts to assume lawful jurisdiction for making an order under section 263 of the act.12. it has been argued before us by the learned counsel for the assessee that dropping of the penalty proceedings by the assessing officer was not ..... parties towards the end of november 1984. this order of the tribunal should, therefore, be considered as part of "the record" within the meaning of section 263 of the act as it was in contemporaneous existence when the assessing officer considered the issue of dropping the penalty proceedings, its factual absence from ito's record notwithstanding. this ..... were filed contending that the order made by the assessing officer dropping the penalty proceedings cannot be treated as an order within the meaning of section 263(1) of the income-tax act, 1961 in terms of the ratio of the allahabad high court judgment in the case of ramlal kishore lal v. cit [1972] 84 itr .....
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