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Nagpur Zilla Nutan Dughd Utpadak Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1985)13ITD680(Nag.)

..... in this connection, our attention was invited to the maharashtra agricultural produce marketing (regulation) act, 1963, in which, under the definitions clause 2(1)(a), agricultural produce meant all produce (whether processed or not) of agriculture, horticulture, animal husbandry, apiculture, pisciculture and forest specified in the schedule. ..... in bye-laws was only a federal society and not a primary society, according to the aac.taking up the alternative contention, the aac held that though the words 'agricultural produce' were not defined in the act, the words 'agricultural income' were however, defined in section 2(7) of the act, according to which it was defined as income arising from cultivation or other user of land or the sale of agricultural produce raised from the land. ..... the learned departmental representative submitted that the deduction under section 80p(2)(b) was definitely not available to the assessee inasmuch as, it was not a primary society engaged in supplying milk raised by its members to a federal milk co-operative society. ..... the ito negatived the claim for deduction under both the provisions as regards the claim for deduction under section 80p(2)(b), the ito noticed, that, though the words 'primary society' were not defined in the act, all the commentaries on co-operative societies had defined a primary society as one functioning at the village level whereas, in the present case, the assessee was a federation of a number of primary societies. .....

Assistant Commissioner of Income Vs. Vijay Kumar Patni, Ajay Kumar

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2007)108ITD409(Nag.)

..... as per as-ii issued by central government in exercise of power conferred under section 145(2) of the act, such standards are to be followed by all assessees following mercantile system of accounting ..... interest payable to the partners is an allowable deduction under section 36(1)(iii) of the act subject to the condition prescribed in section 40(b) of the act. ..... june, 2004 in an appeal against assessment order framed under section 143(3) r/w section 147 of the it act (the act).2. ..... died, so as to entitle the assessee to the relief provided by sub-section (3) of section 25 of the indian it act, 1939? ..... as per section 2(23) of the it act, 'firm', 'partner' and 'partnership' have the meanings respectively assigned to them in the indian partnership act, 1932 ..... under section 28(v) the income by way of interest and remuneration from the firm in which such assessee is a partner is assessable under the head "profits and gains of business or profession", such computation is subject to the provision contained in section 145 of the act. ..... as per section 2(23) the words 'firm1, 'partner' and 'partnership' shall have meanings respectively assigned to them in the indian partnership act, 1932 ..... next ground in cross-objection is against charging of interest under sections 234a and 234b of the act. ..... the revenue challenges deletion of addition in respect of interest income, in the cross-objections the assessee challenges reopening of assessment and charging of interest under sections 234a and 234b of the act.6. .....

Shri S.K. JaIn Vs. Deputy Commissioner of Gift Tax,

Court : Income Tax Appellate Tribunal ITAT Nagpur

..... the fact that the ddit (inv) forwarded to the ao, the documents requisitioned from cbi under section 132a much after the expiry of statutory period of 15 days provided under section 132(9a) of the it act, further indicates that the ddit (inv) wanted to investigate and be involved in the matter, without having the jurisdiction to do so. ..... . on merit, as we have noted above, we may come to a different conclusion, but for the purpose of reopening this is definitely information available with the revenue.from the diary seized from the possession of one of the employees of the assessee, revenue noticed that the assessee made certain payments to some politicians/bureaucrats etc ..... . ito reported in 130 itr 1 (sc), learned counsel submitted, their lordships observed as under: the important words under section 147(a) are 'has reason to believe' and these words are stronger than the words 'is satisfied' ..... this was a case wherein the ao was directed by the commissioner under section 33a(2) of 1922 act, to delete the additions made for the assessment year 1952-53 and to include the same for assessment year 1955-56. ..... 1 to 19) before the cgt(a), with regard to reopening / initiation of proceedings under section 16 of the gt act, the cgt(a) relied on the order of the cit(a) dated 22.07.1997 in appeal no. ..... a reasonable person would have, in such circumstances, concluded that the payments recorded in the diary were payments forming part of the hawala transactions and definitely not a gift. .....

S.K. JaIn Vs. Deputy Commissioner of Gift Tax

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2007)108TTJ(Nag.)627

..... . on merit, as we have noted above, we may come to a different conclusion, but for the purpose of reopening this is definitely information available with the revenue.from the diary seized from the possession of one of the employees of the assessee, revenue noticed that the assessee made certain payments to ..... appeals, for the reasons recorded on 30th march, 1995, were reopened and notice under section 16 of the gt act was issued to the assessee on the same date, requiring him to furnish the return ..... kept the gift-tax assessment pending till the decision of the supreme court in connection with the proceedings initiated by cbi against various bureaucrats and politicians under the prevention of corruption act and ipc for the reason that in the charge sheet filed by cbi it was alleged that the payment was made for undue/illegal favours ..... a belief that there were gifts which had escaped assessment and had rightly exercised the jurisdiction under section 16 of the gt act for reopening the assessment, contended the standing counsel.69 ..... by the assessee pursuant to notice issued by the ao under section 16 of the gt act, the assessee denied any connection with the diary.30. ..... facts are clearly distinguishable.this was a case wherein the ao was directed by the cit under section 33a(2) of 1922 act, to delete the additions made for the asst. ..... have, in such circumstances, concluded that the payments recorded in the diary were payments forming part of the hawala transactions and definitely not a gift. .....

Sonu Liquor Traders Vs. the Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2006)100ITD455(Nag.)

..... cit(a) confirming the penalty imposed under section 271(1)(c) of the income tax act, 1961 which according to the assessee is erroneous and liable to be cancelled. ..... 2,25,000/- under section 271(1)(c) of the act.3. ..... cit(a) that the assessee was maintaining the regular books of account which are duly audited under section 44ab and considering the nature of trade, there was no practice of maintaining of sale bills/vouchers nor it was practicable since all the sales were effected in cash. ..... court reported in 241 itr 124, and held that "but the appellate tribunal held that the department has not discharged its burden of proving concealment and had simply rested its conclusion on the act of voluntary surrender done by the assessee in good faith and that the penalty could not be levied. ..... in view of the above, we find tat this is not a fit case to levy the penalty under section 271(1)(c). .....

Sunita Finlease Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2006)100TTJ(Nag.)851

..... the hire-purchase receipts, therefore, by no stretch of imagination can become interest receipts within the definition of interest under section 2(7) which section includes two other items, namely, commitment charges on unutilized portion of any credit sanctioned for being availed in india and discount on promissory notes and bills of exchange drawn or made in india. ..... therefore, loans and advances was not the principal business as defined in the definition in section 2(5b) of the interest-tax act, 1974. ..... the assessee's contention on the merits of the case appears to be on a sound footing insofar as it was the case of the ao by framing assessment under section 10 r/w section 8(3) of the interest-tax act when this order was sought to be rectified under section 17 by incorporating finance charges on hire-purchase amounting to rs. ..... ratio of loans and advances and hire-purchase together gives a ratio of 37.24 per cent and same would not fall in the category of principal business.in view of these facts, there was no application of the interest-tax act and consequently, the assessment framed under section 8 r/w section 10 was bad in law, invalid and non est. ..... , 1998 {(1998) 144 ctr (st) 37] to substantiate that on all grounds there was no application of interest-tax act, 1974 and hence, notice under section 10 r/w section 8(3) be treated as invalid being without jurisdiction. ..... the learned ao has erred in making an order under section 17 of the interest-tax act, 1974 for the asst. yr. .....

Steel Authority of India Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2006)100ITD29(Nag.)

..... has made the following modifications in the existing provisions relating to exemption of gratuities with a view to liberalizing the provisions in certain directions and removing certain unintended anomalies: (i) under section 10(10) of the income-tax act, as it stood prior to its amendment by the finance act, 1974, gratuities received by civilian employees of the central government who were not covered by the revised pension rules of the central government, as for instance, members of the ..... submitted by him that the obligation of tax deducted at source is provided under section 192 of the income-tax act, 1961 and it provides for tax deduction at source on the estimated income ..... in this connection, it may however, be mentioned that under sub-section (5) of section 4 of the payment of gratuity act, an employee can receive better terms of gratuity under any award or agreement or ..... the passages of the circular it was submitted that the board itself has clarified that the gratuity received by employees in terms of provisions of section 4(5) of the payment of gratuity act shall fall for exemption under section 10(10)(iii) of the income-tax act, 1961 being the residuary class. ..... the revenue is that the assessee-company is governed under the provisions of payment of gratuity act, 1972 and, therefore, gratuity paid by the assessee has to be considered as exempt under the provisions of section 10(10)(ii) read with the provisions of sections 4(2) and 4(3) and maximum amount exempt will be rs. .....

income Tax Officer Vs. Pooja Paper Mart

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2005)98TTJ(Nag.)189

..... this is very clear in view of section 143(1) and 143(l)(a) of the it act, read with the first proviso.he, therefore, submitted that the ao was well within his jurisdiction to issue the notice under section 148 of the act when the time-limit for issuance of notice under section 143(2) had expired.he, therefore, submitted that the order of the cit(a) is erroneous both on law and the facts of the case and, hence the same may kindly be reversed ..... he also submitted that if the plea of the assessee that proceedings arise the moment a return is filed is to be accepted, then the conclusion that follows is that no notice under section 143(2) can be issued to the assessee prior to conclusion of such proceedings under section 143(1) of the it act which as per the scheme of the act is to be done only of refunds due or demand payable. ..... submitted that the argument of the learned counsel for the assessee that the proceedings become pending on the very date of filing of the return by the assessee is not correct on law because the notice under section 148 was issued on 9th march, 2000 and on this date, the amended provisions of section 143(1) were only available to the ao in which acknowledgement of return was to be deemed to be an intimation. ..... it was submitted that in view of the aforesaid facts, it could be seen that at the time of issue of notice under section 148, the proceedings in respect of valid regular return of income submitted by the assessee on 31st oct. ..... state forest corpn. .....

R.K. Nagpal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2006)103TTJ(Nag.)554

..... the provisions of section 151(1) of the act reads as under: 151(1)in a case where an assessment under sub-section (3) of section 143 or section 147 has been made for the relevant assessment year, no notice shall be issued under section 148 by an ao who is below the rank ..... , it has been held that it is not open to the ao to act under section 147 on a mere change of opinion on the same set of facts and ..... accordingly, the notice under section 148 was liable to be quashed.the ratio of the above decision is applicable to the facts of the present case since in the present case, the second notice under section 148 of the act was issued after the decision of the appellate authority in order to circumvent or to defeat the effect of the appellate order passed by the ..... reason to believe that part of income has escaped the assessment within the meaning of section 147 of the it act (specially clause (c) to expln. ..... recorded for issuing second notice under section 148 are basically same with the reasons as recorded for issuing first notice under section 148 of the act. ..... has recorded the following reasons for issue of notice under section 148 of the act: 29th sept. ..... was processed under section 143(1)(a) of the act vide intimation dt. ..... per section 151 of the it act, 1961 ..... recorded in both the notices, it is seen that no new information came into possession of the ao to hold a belief that he has reason to believe that part of income has escaped the assessment within the meaning of section 147 of the it act. .....

Agricultural Produce and Market Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2006)100ITD1(Nag.)

..... journal 837 after referring to the preamble of the maharashtra agricultural produce marketing (regulation) act, 1963 and various sections of the act including that of section 29 held that "indeed the very object of the act is to protect sellers of agricultural produce who are in our country mostly rural people ..... murati (1986) maharashtra law journal 258 (sb), it was submitted that the same was rendered in respect of the definition of "commercial establishment" given in section 2(4) of the bombay shop and establishment act, 1948.the expression "commercial establishment" as used in that act meant not only establishment which itself carries on any business or trade but also means such establishment which carries on any ..... financial year in which the application is made, if the cit is not so satisfied; (b) where the total income of the trust or institution as computed under this act without giving effect to the provisions of section 11 and section 12 exceeds fifty thousand rupees in any previous year, the accounts of the trust or institution for that year have been audited by an accountant as defined in the explanation ..... may be entitled to claim minimum wages under the minimum wages act, 1948 read with section 2(4) of the bombay shop and establishment act on the ground that charitable hospital comes within the definition of "commercial establishment" as defined in section 2(4) of the bombay shop and establishment act, 1948, but on that count the charitable hospital does not cease ..... forest .....