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Atma Ram Properties (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)85ITD86(Delhi)

..... noted the facts and gave his finding as under:- the appellant has agitated the disallowance of rs. 10,797 on account of provident fund and tax rs. 3,389 on account of esi under section 43b of the income-tax act. according to the assessing officer the payment was made on 27-4-1992 which was after the due date prescribed under the respective ..... from the business transaction of purchase and sale of the stock-in-trade which could be assessable under the head 'income from business'. she relied on the following decisions:- 1. east india housing & land development trust ltd. v. cit [1961] 42 itr 49 (sc).13. she further submitted that the hon'ble supreme court decision in the case of apollo tyres ltd. (supra .....

Twenty First Century Steels Ltd. Vs. Dy. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)94ITD258(Delhi)

..... at cost to its business of manufacture and claims that it has purchased the machinery, it is entitled to relief under section 32ab(1)(b) of the income-tax act, 1961. if an assessee, by making necessary arrangements for purchase from outside, is entitled to claim deduction under section 32ab, then there is no reason why an ..... so construed which enables the assessee to get its benefit. in that case the term "owned" in relation to a building in section 32 of the income-tax act, 1961 which allows depreciation benefit, was construed to signify dominion and entitlement to the use of the building.35. as regards construction of exemptions and likewise in the ..... bench to consider and decide the following question in the above captioned appeal: "whether an assessee is entitled to grant of deduction under section 32 ab of income tax act, 1961 in respect of raw-material and labour charges incurred for fabrication of plant and machinery and/or for addition in the existing plant & machinery and whether .....

Motor and General Finance Ltd. Vs. Dcit, Spl. Range-16

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)90ITD449(Delhi)

..... was right in disallowing the difference between interest paid to the banks and interest recovered from the directors under section 36(1)(iii) of the income tax act, 1961." 9.21 it may be pointed out that in the case of h.r. sugar factory pvt.ltd. (supra), there was a director nexus between the borrowed funds ..... issue contained in the above referred ground which are as under: 4.1. the assessee had shown receipt of dividend income at rs. 87,43,921/- and claimed deduction under section 80-m of the income-tax act, 1961 (hereinafter referred to as the "act") on this amount. the ao did not allow the claim on the ground that the assessee had not bifurcated ..... etc., far in excess of the amount invested in shares and bonds, as per their charts, then the claim of the assessee for deduction under section 80m of the income-tax act shall be allowed. the issue shall, therefore, be considered and decided in the light of our observations made above and according to the directions given, of course, by .....

Jindal Exports Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)2SOT7(Delhi)

..... there being any specific order to levy such interest and section under which the same has been charged and that too by upholding the proceedings under section 154 of the income tax act." ground nos. 1 to 4 in ita no. 442/del./2002 relates to computation of deduction under section 80hhc, the assessee's counsel shri c.s.aggarwal argues ..... c) of section 80hhc(3) deserves to be ignored and deduction be directed to be allowed in respect of amount computed under proviso to section 80hhc(3) of the income tax act as per the computation made by the appellant and as such it was prayed that the deduction claimed be allowed, by ignoring the loss. in support of the aforesaid ..... yet the revenue had accepted the order of the tribunal, so far as the computation of the allowability of deduction under the proviso to section 80hhc(3) of the income tax act which would be evident from the judgment of hon'ble kerala high court reported in 264 itr 368. it was further submitted the proviso below sub-section (3) of .....

Sukh Ram Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)99ITD417(Delhi)

..... possession, has reason to believe that-- (c) any assets represent either wholly or partly income or property which has not been, or would not have been, disclosed for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act by any person from whose possession or control such assets have been taken into custody ..... search and seizure operation under section 132. during the course of search conducted at the residence of the assessee at mandi and delhi by the cbi and income-tax department, substantial cash as well as other valuables were found besides some incriminating documents showing undisclosed investments/expenses made by the assessee. the cash found from ..... a deemed execution of search warrant for the purpose of determining the time limit available to complete the block assessment. moreover, rule 112 of the income tax rules, 1961 prescribes a manner and method in which a search and seizure operation is to be conducted as well as the recording of events and preparation of .....

NavIn Verma Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)100ITD73(Delhi)

..... under: on the appreciation of facts, which have been discussed in detail, the tribunal has arrived at a conclusion that no notice under section 158bc of the income-tax act, 1961 was served upon the assessee. hence, no interference is called for.10.14 it is to be pointed out that this decision of hon'ble delhi high court ..... in substance and effect in conformity with or according to the intent and purpose of the income-tax act, 1961 as provided under section 292b. as regards jurisdiction, the assessee is residing in the territorial jurisdiction of range-i, faridabad and is, therefore, within the jurisdictional ..... which the notice under section 158bd was issued which in the present case is expiring on 30-4-2003 as provided under section 158be(2)(b) of the income-tax act, 1961, further, the mandatory provisions of law have been duly complied with and no notice etc., shall be invalid or deemed to be invalid because the same are .....

Asstt. Commissioner of Income Tax Vs. Shri Rajeev Tandon

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)108ITD560(Delhi)

..... rs. 47.5 lakhs. the ao was further justified in treating the gifts as not genuine and adding the same to the income of the assessee under section 68 of income tax act, 1961 as income from other sources. consequently, the order of cit (a) in this regard is set aside and the order of the ao is restored. the ground of appeal taken by the ..... was purchased by the assessee for a sum of rs. 47.5 lakhs, and added the same to the income of the assessee under section 68 of the income tax act, 1961 as the income of the assessee from other sources.17. on the other hand the cit (a) without properly and carefully analyzing the bank statements held that the donor shri p.b. bhardwaj had ..... of rs. 34,66,242/- introduced by the assessee in his books by way of gifts remained unexplained and were, therefore, liable to be taxed as his deemed income under section 68 of the i. t. act.2. briefly stated the facts relating to the disposal of this ground of appeal are that the assessee, shri rajeev tandon is a partner .....

Nuware India Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... is to the effect that the learned cit(a) erred in law and on facts in confirming the action of the assessing officer ..... ), faridabad, passed on 12.09.2005. the corresponding order of assessment was framed by the deputy cit, central circle, faridabad, on 26.2.1999 under the provisions of section 143(3) read with section 148 of the income-tax act, 1961.2. ground no. 1 is residuary in nature, which was not argued by the learned counsel. ground no. 1 ..... making additions on the aforesaid grounds as well as on a number of other grounds. section 147 of the act, regarding "income escaping assessment", uses the words "assess or re-assess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of proceedings under this section". .....

Shri Manoj Aggarwal, Bemco Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... inter laced and inter twined and both form part and parcel of the same chapter.117. in the back drop of this analysis of chapter xivb of the income tax act, 1961, we shall advert to the submissions made by the rival parties before us and in this context we may refer to the written submissions made before the first appellate ..... 2b and be delivered in this office within 15 days of service of this notice duly verified and signed in accordance with the provisions of section 140 of the income tax act, 1961.99. it will be seen from the said notice that it is issued to bishan chand mukesh kumar as a firm directing the said firm to file a ..... the assessment years 1991-92 to 2001-02, passed on 31.12.2004 under section 158bc of the income-tax act, 1961 by deputy commissioner of income-tax (central) circle-ill, new delhi. 1. letter of sh. sunil kapoor dated 18.02.03 filed before income tax dept. stating that the statements recorded by ddm-investigation wing, amritsar were not correct and were recorded .....

Ashirwad Steel and Alloys (P) Ltd Vs. Department of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... be restored." 3. briefly stated the facts giving rise to this appeal are that the case was selected for scrutiny and order u/s 143(3) of the income tax act was passed on 26.12.2008 by the ito (tech) muzaffarnagar. subsequently, the ito(tech), muzaffarnagar moved a proposal u/s 263 of the ..... the head of other sources cannot be allowed to be set off against business loss/unabsorbed depreciation. the dr further contended that the commissioner of income tax(a) misinterpreted the provisions of the act and the set off was wrongly allowed for the assessee. replying to the above, ld. counsel of the assessee submitted that as per order of itat, delhi ..... act on 31.03.2009 and the commissioner of income tax, muzaffarnagar vide his order dated 29.03.2010 u/s 263 of the act directed the assessing officer to make fresh assessment after making appropriate inquiry. during the fresh assessment, notice u/s .....