Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Court: income tax appellate tribunal itat chandigarh Page 41 of about 506 results (0.203 seconds)

Jagat Rai Verma Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... the hon'ble vice president and the learned judicial member, who originally heard the appeals, the hon'ble president has referred the following question to me under section 255(4) of the income-tax act:-- "whether on the facts and in the circumstances of the case it is justified in not entertaining the appeals and dismissing the same in the absence of ..... notice dated 5-8-1997 or directing the registry to again fix the case of hearing." 2. the matter pertains to penalties levied by revenue under section 271(1)(a) of the income-tax act for the delay in the submission of the returns in the assessment years 1978-79 to 1982-83.3. the appeals of the assessee were fixed for .....

Paras Rice Mills Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)90TTJ(Chd.)789

..... and power of the tribunal by such like notions as finality, subject-matter of appeal, and the like. the statutory provision in section 33(4) of the 1922 act and section 254 of the 1961 act which confers appellate jurisdiction on the tribunal clearly lays down that the tribunal, in disposing of an appeal, may pasa such orders thereon ..... but elaboration of ground no. 1.ground no. 1 of the appeal reads as under : "that learned assessing officer has completed the assessment under section 158bc(c) of income tax act in utter disregard of the legal provisions and in violation of the principles of natural justice and is thus liable to be annulled being beyond the ..... i.e., in the interests of substantial justice. there no provision in the act prescribing any restrictions on the admission of new or additional grounds of appeal. it follows the pattern of second appeals before the civil courts.the marginal heading to section 254 would also not assist the department, in its interpretation as above. it has .....

income Tax Officer Vs. Gurdev Singh

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)86TTJ(Chd.)861

..... the present assessing officer would have no jurisdiction over the case and hence the impugned order passed by the assessing officer after initiating proceedings under section 148 of income tax act is also without jurisdiction and since the assessee was regularly assessed for income-tax in new- delhi, so the present assessing officer would not ..... permanently residing at delhi and was filing his return of income which was apparent from the assessment order itself. since the notices issued under section 148 of the income tax act by the assessing officer were out of jurisdiction, therefore, the assessment framed by the assessing officer was also out of jurisdiction and, therefore, ..... along been objecting to the assumption of the jurisdiction by the assessing officer, ward 2(3), chandigarh, and so, the notices issued under section 148 of the income tax act by the income tax officer were without any jurisdiction because the assessee had already been assessed by.the income tax officer, ward 15(1), .....

Gopal Dass Kulwant Rai Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)88ITD445(Chd.)

..... ) & (v) of section 40(&) of the income-tax act. clause (v) is relevant for our purposes and is reproduced as below :- (v) any ..... salary/remuneration or interest paid by a firm to a partner was totally disallowed under section 40(b) of the income-tax act till assessment year 1992-93. however, w.e.f. 1-4-1993 changes have been made in the income-tax act by the finance act, 1992 allowing interest and remuneration to partners and working partners as per clauses (iv ..... remuneration which was actually paid was less than the maximum amount payable under the statute. the sentence "subject to overall limit as laid down under section 40(b) of income-tax act" is not a term of partnership deed. it is a statutory provision which is applicable to all partnerships whether provided in the instrument of partnership .....

Biyani Chambal Ka Mahabhandar Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)92TTJ(Chd.)780

..... view that the depreciation on the vehicle was to be disallowed to the extent that the expenditure had been incurred for personal use of the vehicle in terms of section 38(2) of it act, 1961. the ao, therefore, disallowed 1/6th of expenditure on maintenance of jeep and scooter, depreciation on jeep and driver's salary. accordingly, the disallowance of rs. 24 ..... firm. he also noticed that the assessee had been borrowing funds and paid interest on the same whereas this particular advance was interest free. he opined that in terms of section 36(1) (iii) it was to be seen whether the assessee had borrowed funds and whether interest was paid on those funds and also whether the borrowings were for the .....

S.S. JaIn Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)92ITD377(Chd.)

..... appellants are in appeal before us. the id.counsel for the assessees contended that the appellants are entitled to the relief under section 89 as per the provisions of the act. it was contended that section under section 10(10c), which was incorporated w.e.f. 1.4.87, granted exemption in respect of the whole of the amount received ..... head "income from salary". the compensation received by the appellants on voluntary retirement could be claimed to be a capital receipt but for section 17(3) of the income-tax act, 1961. relevant portion of section 17(3) reads as under:- (i) the amount of any compensation due to or received by an assessee from his employer or ..... of the income-tax rules, 1962. in this connection, reliance was placed on the following decisions);- our attention was invited to the proviso to section 10(10c) of the income-tax act, 1961 which provides that where exemption has been allowed to an employee under said clause, no exemption thereunder shall be allowed to him in relation .....

H.P. State Forest Corpn. Ltd. Vs. Dy. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)93ITD442(Chd.)

..... would be useful to refer to the provisions of section 271(1)(c) under which the penalty has been imposed. relevant portion of section 271 is reproduced hereunder:- "271.(1) if the assessing officer or the commissioner (appeals) or the commissioner in the course of any proceedings under this act is satisfied that any person:- (c) has concealed ..... to computation of income have been disclosed.21. we, therefore, proceed to consider as to whether the assessee has discharged the onus required under the explanation 1 to section 271(1)(c). as already pointed out, the assessee has given an explanation. therefore, the deeming provision as per clause (a) of explanation 1 to the effect ..... the circumstances under which the claim was made is relevant for consideration for the purpose of levy of penalty. therefore, what is material for the purpose of section 271(1)(c) is to consider the explanation of the assessee as to whether the claim made by the assessee, which was found to be inadmissible in .....

Pargat Singh Vs. Income Tax Officer [Alongwith Ita

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)95TTJ(Chd.)295

..... of material available on record, had taken one of the possible view. therefore, the learned cit had no jurisdiction to interfere by exercising her powers under section 263 of it act, merely on the basis of surmises.in the light of aforesaid discussion, i am of the confirm view that the learned cit was not justified in ..... prejudicial to the interests of revenue. the learned cit, although stated that the assessee had not paid a single penny of tax by claiming exemption under section 54f of it act but loss of revenue, as a consequence of order of ao passed after proper verification and examination, cannot be treated as prejudicial to the interests of ..... they were engaged in the transaction with the assessee which clearly shows that the assessee manipulated and adjusted his income from other sources and claimed exemption under section 54f of it act. it was also stated that the so-called long-term capital gains earned by the assessee were shown only in respect of nondescript companies. therefore, .....

Sardari Lal Oberai Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)106TTJ(Chd.)1033

..... since the gross receipts of the assessee including the transportation receipts exceeded rs. 40 lakhs, the assessee was required to get its accounts audited as per provisions of section 44ab of it act, 1961. since the assessee had not got its accounts audited and had not furnished audit report in prescribed form 3cd, the ao issued notice dt. 11th march ..... the light of these facts, i hold that the appellant has committed a default under section 44ab of the act and is liable for penalty under section 271b of the act. the ao is justified in levying the penalty under the provisions of section 271b of the act. the order of the ao is confirmed.7. before us, the learned counsel for ..... the assessee has not got its accounts audited and furnished the audit report in prescribed form, the assessee violated provisions of section 44ab and so, he imposed a penalty of rs. 33,262 under section 271b of the it act.5. aggrieved with the order of the ao, the assessee filed an appeal before the cit(a) and submitted .....

Ramesh Chander Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1982)1ITD240(Chd.)

..... the ito found that the assessee had constructed six flats in respect of which deduction under section 23(1) was claimed at the rate of rs. 1,200 per flat in the assessment year 1978-79. however, according to him, such deduction with ..... 6-1981 relating to the assessment years 1978-79 and 1979-80.2. i have heard the parties. the issue involved in these appeals is regarding relief under section 23(1) in respect of two residential units let out for use otherwise than residence during the accounting periods relevant to the assessment years under appeal.3. ..... seen that there is no specific prohibition contained in provisions of its second proviso (b)(i) to section 23(1) of the income-tax act, 1961 regarding non-residential use of the residential units constructed. a reading of the section shows that the incentive provided by the parliament was for investment in property for residential purposes during a .....