Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2005)95ITD152(Asr.)
the division bench hearing this case while camping at srinagar, had made a reference to the honble president, income tax appellate tribunal, under section 253(3) of the income tax act, 1961 (the act) to constitute a special bench consisting of three or five members in this case. accordingly, the honble president was pleased to ..... were to be exercised.taking his arguments on a different plain, the learned departmental representative submitted that the purpose of the income tax act was to earn revenue to run the country. the provisions of the act, therefore, cannot be defeated by technical infirmities. relying on the judgment of the punjab & haryana high court in ..... assessing officer.the proviso to section 4(1) of the act clearly contemplated a provision in the act requiring income-tax to be charged in respect of income of a period other than the previous year. thus, income-tax could be charged in respect of the undisclosed income assessed for the block period. in cases where assessment or .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2006)280ITR34(Asr.)
..... information as were available with the ao. the proviso to section 4(1) of the act clearly contemplated a provision in the act requiring income-tax to be charged in respect of income of a period other than the previous year. thus, income-tax could be charged in respect of the undisclosed income assessed for the block period. in cases where assessment or reassessment is done under section ..... 1. the division bench hearing this case while camping at srinagar, had made a reference to the hon'ble president, tribunal, under section 255(3) of the it act, 1961 (the act) to constitute a special bench consisting of three or five members in this case. accordingly, the hon'ble president was pleased to constitute a special bench of three members to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2004)85TTJ(Asr.)1
..... a formality to taxing the actual income of the appellant. the assessment framed by the ao ..... return is processed under section 143(1) as the returned income has been accepted. the fact remained that the appellant failed to declare his income by virtue of interest on income-tax refunds suo moto and hence the same was brought to tax by issuing notice under section 148 of the it act, 1961. issue of notice under section 143(2) is just ..... the case of n.r. paper & board ltd. & ors. v. dy. cit (1998) 234 itr 733 (guj) has held as under : 'chapter xiv-b of the it act, 1961, lays down a special procedure for assessment of search cases and provides for assessment of undisclosed income as a result of search. under section 158bb(1) r/w section 158bc of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2008)113TTJ(Asr.)427
..... ") in respect of business income computed as per provisions of the act. the ao referred to the provisions of sub-section (13) of section ..... income of rs. 17,52,669 on 30th oct., 2002. the return was processed under section 143(1) and the assessment was not made under section 143(3). subsequently, the ao noticed that in the return of income filed, the assessee had claimed deduction under sections 80hhc and 80-ib of the income-tax act, 1961 (in short "the act ..... as such, with a view to assess/reassess such escaped income and also any other income chargeable to tax which comes to notice subsequently in due course, proceedings under section 147 are hereby initiated against the assessee whereby issuing notice under section 148 of the it act, 1961 for the said assessment year.there is no dispute about .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2008)111ITD70(Asr.)
..... 8th dec, 1998.initially, the business premises at 9/30, sadar bazar at 11/2, grain market, jalandhar cantt. were covered under section 133a(1) of the it act, 1961 (in short 'the act'). such action was converted into search action by issue of consequential warrants of authorization by addl. dit (inv.), jalandhar, in the names of s/sh. rakesh kumar, ..... his two business associate concerns. the other case which was referred to before the cit(a) is the judgment of hon'ble delhi high court in the case of amity hotels (p) ltd. v. cit (supra), where it was held that existence of undisclosed income of the assessee was condition precedent for issue of notice under section 158bd. in ..... there was no evidence regarding suppression of income. but these are not the facts of the present case. thus, this judgment is also not applicable to the facts of the present case.7.6 we may further mention that the tribunal, amritsar bench (sb), in the case of smt. mahesh kumaii batia v. jt. cit (2005) 95 ttj (asr)(sb) .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2006)100ITD560(Asr.)
..... proceedings relating to other persons, within the meaning of section 158bd also came to an end is totally misconceived and is not supported by any provisions of the income tax act, 1961. clearly, notice under section 158bd was issued on 29.3.2001 and in view of the clear provisions of section 158be(2) limitation to complete the assessment ..... facts and findings in the assessment order which is under challenge before us.3. a search and seizure operation was conducted under section 132 of the income tax act, 1961 at the residential premises of shri vijay sehgal (individual), at 211, new jawahar nagar, jalandhar on 13.12.1995 consequent upon warrant of authorisation issued by director ..... property of any kind held by an assessee, whether or not connected with his business or profession, but does not include- section 2(47) of the income tax act, 1961 provides the definition of "transfer" in relation to capital asset, includes: (iv) in a case where the asset is converted by the owner thereof into, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2006)100ITD525(Asr.)
..... in the case of ito v. ch. atchaiah held that there was a difference between the provisions of indian it act, 1922 and the it act, 1961. it was observed that under the old act in respect of the total income of a firm or aop income-tax was to be charged either on the firm or the aop or on the partners of the firm or on ..... was, therefore, being held that once the ito opted for one course, the other course was barred to him. but no such option was provided under the present act of 1961 and as per section 4 of the act of 1961, income-tax shall be charged on the income "of every person" and the expression 'person' is defined in clause (31) of section 2 of the ..... act wherein a firm, an aop or a boi, whether incorporated or not, are separately included. the apex court observed that if the legislature wanted to provide an option, or .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (2004)87TTJ(Asr.)803
..... by the assessing officer in his report furnished to the learned commissioner (appeals). it is in violation of the provisions of the r. 6a of the income tax act, 1961 (sic income tax rules, 1962).2. that the learned commissioner (appeals) has erred in allowing relief of rs. 4,27,633 and rs. 46,691 totalling rs. ..... the commissioner (appeals) was fully justified in accepting the additional evidence during the course of appellate proceedings. as per the explanation to section 251 of the income tax act, 1961, the commissioner (appeals), while disposing of an appeal may consider and decide any matter arising out of the proceedings in which the order appealed against was ..... to be given for this ground."6. that the learned commissioner (appeals), amritsar, has grossly erred in confirming the interest under section 158bbfa(1) of the income tax act, 1961. " before us, sh. padarn bahl, ca, the learned counsel for the assessee, submitted that the delay in filing the return could not be attributed to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Amritsar
Reported in : (1998)67ITD425(Asr.)
..... rs. 1,09,538 and assessment was completed by the ito under s.143(3) on an income of rs. 1,28,677. the ao observed that the appellant was required to get the accounts audited in accordance with s. 44ab of the it act, 1961, because the sale exceeded to rs. 40,00,000. the appellant filed accounts for the first ..... make function of audit party as illegal or without jurisdiction. many situations and opinions of audit party are well within their competence and audit party can inform various mistakes and tax authority can take action, it permissible under the law. we, therefore, consider that the ratio of hon'ble supreme court is not applicable on the facts and circumstances ..... . j. k. d'costa (1982) 133 itr 7 (del), whereby the high court, on a reference, held that the cit in a suo motu revision under s. 263 of the it act, 1961, of an assessment proceedings, was not entitled to set aside the assessment order on the ground that there was no mention of initiation of penalty proceedings in the .....
Tag this Judgment!