Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: income tax appellate tribunal itat chandigarh Page 6 of about 354 results (2.231 seconds)

Kangra Bajri Co. Vs. A.C.i.T. [Alongwith I.T.A. Nos.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)90ITD124(Chd.)

..... issue being debatable and controversial, these were not mistakes apparent from record and, therefore, fell outside the scope of provisions of section 154/155 of the income-tax act. the assessees had also taken a ground that no interest under the above mentioned sections could be charged at the time of completing the re-assessments, ..... can only be charged in regular assessment proceedings. regular assessment has been defined in section 2(4) and 215(6) of the i.t. act, 1961. 4. that the learned commissioner of income-tax (appeals) has not passed a speaking order, which is illegal and against the natural justice. 5. that the assessing officer is not definite ..... provisions of law. while passing the order, learned commissioner of income-tax (appeals) has not considered the following facts - ii) that where there is controversial issue and two different opinions arc involved, no mistake can be rectified under section 154/155 of the i.t. act, 1961. iii) that the intt. charged under section 154/155 .....

Asstt. Commissioner of Vs. Shri Madan Lal Bassi

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)88ITD557(Chd.)

..... them by him are liable to be treated as his income and hence any expenditure laid out of by the assessee for earning that ..... of the assessee.8. in the case of amarchand jalan v. cit 160 l.t.r. 805, their lordships of the bombay high court observed as under:- "the provisions of section 64(iii) read with the other relevant provisions of the income-tax act, 1961 show that, for the purposes of the income-tax act, the income of the assessee's wife and minor children, from assets transferred to .....

Asstt. Cit Vs. Shivalik Woollen Mills (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)86TTJ(Chd.)473

..... year nor for any earlier assessment year and so the action of the assessing officer in this respect is contrary to the provisions of section 36(2) of the income tax act.thus, the commissioner (appeals) concluded that as bad debt claimed by the assessee should have been allowed for the current assessment year as it has been written off ..... material with a view to find out if the loss is proved or not. the observation of the tribunal that no director or any other witness appeared before the income tax officer was not relevant as the resolution of the board of directors was placed on record. moreover, it is not necessary for the assessee to prove that the embezzlement ..... issue involved in the grounds of appeals of the revenue are that in response to the notice under section 148 of the act, issued on 11-2-1993, the assessee filed its return declaring nil income. the assessee derived income from manufacturing and sale of shoddy yarn and from trading of m.s. rounds and also from the job work done .....

ito Vs. Trilok Tirath Vidyavati Chuttani

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)91TTJ(Chd.)1044

..... incidental to the attainment of the objectives of the trust and hence provisions of section 11(l) of the income tax act, 1961, would not be applicable to such income/loss as provided in section 11(4a) of the income tax act, 1961.8. it is prayed that the order of the learned commissioner (appeals) be cancelled and that of the ..... 1996-97. further, no opportunity was afforded to the assessing officer under rule 46a(3) before admitting the additional evidence. the income has to be computed as provided in section 11 of the income tax act, 1961. therefore, the order in question, is perverse in law and on facts.4. the learned commissioner (appeals) is wrong in ..... another for utilization by the donee trust towards its charitable objects is proper application of income for charitable purpose in the hands of the donee trust; and the donor trust will not lose exemption under section 11 of the income tax act, 1961, merely because the donee trust did not spend the donation during the year of receipt .....

Sh. Surinder Pal Verma Vs. the A.C.i.T. [Alongwith I.T.A.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... learned accountant member, who heard these appeals and the following points of difference were referred by them to the hon'ble president, income-tax appellate tribunal under section 255(4) of the income-tax act, 1961:- "1. whether on the facts and in the circumstances of the case, there is justification to allow further relief of rs. ..... co-owners of properties, namely, smt. neelam verma and shri surinder pal verma did not claim any expenditure towards collection charges under section 24 of the income-tax act. she held that no collection charges were actually incurred and, therefore, disallowance of claim was justified. the assessee has brought the issue in appeal.however, ..... construction was required to be determined first to find disclosed and undisclosed investment.26. the next important provision to be considered is section 69 of the income-tax act which says that where in any financial year the assesses has made investment, which is not recorded in the books (sic) account and the assessee .....

Surinder Pal Verma Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)83TTJ(Chd.)24

..... learned am, who heard these appeals and the following points of difference were referred by them to the honble president, tribunal under section 255(4) of the income tax act, 1961 "1. whether, on the facts and in the circumstances of the case, there is justification to allow further relief of rs. 66,761 in estimating ..... given even in the case of smt.neelam verma. this was inspite of the fact that in the statement recorded under section 132(4) of the income tax act, sh. surinder pal verma and smt. neelam verma clearly intended to cover investment in properties besides covering other discrepancies.the assessees challenged above additions in appeal ..... other co-owners of properties, namely, smt.neelam verma and shri surinder pal verma did not claim any expenditure towards collection charges under section 24 of the income tax act. she held that no collection charges were actually incurred and, therefore, disallowance of claim was justified. the assessee has brought the issue in appeal. however, .....

Ronaq Ram Nand Lal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)92ITD514(Chd.)

..... ., speaking for the full bench, observed that the object and intent of the legislature in omitting the word "deliberately" from clause (c) of section 271(1) of the income-tax act, 1961, was to bring about a change in the existing law regarding the levy of penalty so as to shift the burden of proof from the department on to the assessee ..... when cash of rs. 35,000 was deposited only one day before the withdrawal and accordingly made the addition of rs. 35,000. the cit(a) had also confirmed the addition of rs. 35,000 as income from undisclosed sources.4. on appeal, the tribunal has sustained the addition of rs. 35,000 mainly on the ground that the deposit ..... failure to furnish accurate particulars.9.2 in the case of sir shadilal sugar & general mills ltd. v. cit (supra), their lordships of the supreme court laid down that the mere fact that the assessee had surrendered the income was not sufficient for imposition of penalty under section 271(1)(c).9.3 the legislature has amended the provisions .....

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

Court : Income Tax Appellate Tribunal ITAT Chandigarh

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

..... on record.18. it was further contended the corporation did not have special privileges under the income-tax act. it did not enjoy the right to arbitrarily reduce the taxable income as it pleases. according to the ld. d.r., if the payment of correct tax were considered to be inconsequential in the case of govt. corporations, then there would be no ..... which it can be gathered that the omission was attributed to an intention or desire on the part of the assessee to hide or conceal the income so as to avoid imposition of tax thereon." in this case, assessee had disclosed all the facts before the ao in regard to reduction of the value of the closing stock. the ..... may direct that such person shall pay by way of penalty, - explanation 1.- where in respect of any facts material to the computation of the total income of any person under this act, - (a) such person fails to offer an explanation or offers an explanation which is found by the assessing officer or the commissioner (appeals) or the .....

Joint Commissioner of Vs. Kwality Cafe and Restaurant (P.)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)105ITD169(Chd.)

..... support the contention that right to sue was not an actionable claim. the learned counsel further invited our attention to section 55(2)(a) of the income-tax act, 1961 which has been amended with effect from 1-4-1998 and partly with effect from 1-4-2002 applicable prospectively. it was contended that the legislature ..... of the revenue that the commissioner of income-tax (appeals) has admitted additional evidence in violation of rule 46a, it was contended that a ..... further contended that the decision of the madras high court in the case of cit v. h. miller & co. ltd. relied upon by the departmental representative is distinguishable on facts. it was further contended that section 41 of the income-tax act, 1961 is not applicable in this case. referring to the contention advanced on behalf .....

Sh. Rajiv Gupta Vs. the Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2008)297ITR1(Chd.)

..... set off against the long term capital gain was brought forward on the basis of the return filed in accordance with section 139(3) of the income-tax act,1961. similarly, in assessment year 1999-2000 the assessing officer was required to consider as to whether the long term capital loss was declared in assessment year ..... well as for assessment year 1999-2000 he did not consider the restriction placed under section 74, section 80 read with section 139(3) of the income-tax act, 1961.subsequently when the mistake was discovered the assessing officer promptly effected the rectification under section 154 for both the assessment years after giving opportunity to the ..... further contended that the assessing officer had passed assessment orders for assessment years 1997-98 and 1999-2000 after due scrutiny under section 143(3) of the income-tax act, 1961. that, a conscious decision had been taken by the assessing officer for allowing carry forward and set off of long term capital loss against long term .....