Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2004)89TTJIndore770
..... manufacturers association (supra) wherein it was held that if a trust is entitled to the exemption under section 11 read with section 2(15) of the income tax act, 1961, because it has been established for the advancement of an object of general public utility not involving the carrying on of any activity for profit is whether ..... the assessee was allowed exemption from tax under section 11 of the income tax act from the assessment years 1985-86 to 1993-94; in ..... with the registrar of societies under the mp societies rggistration act, 1973, vide certificate dated 16-4-1984; it was also registered by the commissioner, bhopal, under section 12a of the income tax act, 1961, vide registration no.bpl/3/85-86 and intimation thereof by the cit to the assessee dated 29-1-1986; vide this registration .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2008)113TTJIndore622
..... to disclose fully and truly all material facts necessary for his assessment or otherwise, then, notwithstanding anything contained the income-tax act or in any finance act, income-tax shall be charged in respect of the income so declared (such income being hereinafter referred to as the voluntarily disclosed income) at the rates specified hereunder, namely: (i) in the case of a declarant, being a company or a firm ..... (1) of section 64; (d) all other words and expressions used in this scheme but not defined and defined in the income-tax act or the wealth-tax act shall have the meanings respectively assigned to them in those acts. 64. charge of tax on voluntarily disclosed income.- (1) subject to the provisions of this scheme, where any person makes, on or after the date of commencement of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1986)15ITD650Indore
..... with which to start the business.5. so far it has not been clarified under which section of the income-tax act, 1961 (the act) the sum for rs. 24,500 and the other sum of rs. 4,950 has been assessed. sections 69, 69a, 69b ..... at the close of the previous year for the assessment year 1970-71 he had gained two more years in age. the income-tax returns for the assessment years 1968-69 to 1972-73 were filed purporting to be on behalf of the assessee by his father ..... the ito was of the opinion that narsinghdas mittal was not a man of sufficient means, he added this amount to the assessees income. the assessee preferred appeals against the aforesaid assessment to the aac who accepted the assessees claim and deleted the additions. the matter ..... : thus, the money-lending business is said to have been started with those sum of rs. 12,500 and various amount of income were earned during the years preceding the assessment year 1968-69. according to the assessee, at the beginning of the accounting period for .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1997)60ITD27Indore
..... the current year's depreciation and carried forward unabsorbed depreciation of the earlier years in view of the specific provisions of section 32(2) of the income-tax act, 1961. giving effect to section 32(2) which deems unabsorbed depreciation of the earlier year as part of the current year's depreciation, the deduction under ..... the profits or gains of the new industrial undertaking must be computed in accordance with the provisions of the act in the same manner as they would be in determining the total income chargeable to tax and it must follow a fortiori that if the losses, depreciation allowance and development rebate in respect of ..... out after deducting unabsorbed depreciation and unabsorbed development rebate and the income eligible for deduction under section 80j will be the net income as computed in accordance with the provisions of the act. in support of his contentions, he placed reliance on the following decisions :- (ii) cit v. north arcot district co-operative spg. mills ltd. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1983)3ITD151Indore
..... similarly, for the assessment year 1980-81, a revised return was filed on 30-6-1981 showing income of rs. 12,515.3. in both the years under consideration, the assessee had claimed deduction under section 80u of the income-tax act, 1961 ('the act').the learned ito was of the view that the case of the assessee is not covered under ..... make rule and to issue orders, instructions and directions to all officers and persons employed in the execution of the act. this is clear from section 119 of the act. normally the quasi-judicial function of an income-tax authority cannot be controlled by the cbdt in a particular case, but they can be so controlled to the extent ..... to engage in a gainful employment or occupation, there shall be allowed a deduction of a sum of five thousand rupees : provided that such individual produces before the income-tax officer, in respect of the first assessment year for which deduction is claimed under this section,- (a) in a case referred to in clause (i), a certificate .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1993)47ITD429Indore
..... in favour of the assessee. the ao simply observed that the total expenditure of rs. 3,137 on account of tanker bharai is hit by section 40a(3) of the income-tax act. he did not at all examine if the said expenditure was incurred at one time. the facts have been examined by the ..... ) erred in deleting the disallowance of rs. 14,500 for not charging interest from sister concern. (vi) the cit(a) erred in deleting interest charged under section 215 of the income-tax act.3. the facts as to claim of rs. 25,515 on account of mehta sukhadi and of rs. 3,137 on account of tanker bharai have been lucidly stated by ..... the cit(a) in paras 1 to 7 of his order. he has explained as to what is the mehta sukhadi .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2002)77TTJIndore995
..... of assessing officer passed under section 158bc, we agree with the same. though there is no provision corresponding to section 96(3) of cpc, 1908, in the income tax act, 1961, but various high courts have clearly held that once the assessment is completed on the basis of consent, assessee cannot be an aggrieved party and as such appeal ..... considered the facts of the case and legal position applicable to the same. he submitted that appeals were filed with the tribunal under section 253(1)(b) of the income tax act, 1961, on 30-12-1996. in these appeals, assessment made under section 158bc was challenged as illegal, arbitrary and without jurisdiction. in the meantime government of india started ..... it out of section 246(1)(a) since there is no provision in the income tax act, 1961, corresponding to section 96(3) of cpc 1908. in this regard, he relied on chhatmall agrawal v. cit (1979) 116 itr 694 (p&h), gauri sahai ghisa ram v. cit (1979) 120 itr 338 (all). he contended that assessee's group did .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2003)86ITD637Indore
..... "orders, instructions and directions" are contained in both sub-sections (1) and (2) of section 119 as comprised in chapter xiii of the income-tax act,1961, which chapter is titled as "income-tax authorities". the said section 119 is grouped in part-a of the said chapter of which the sub-title is "appointment and control" and the ..... suggests the binding nature of the orders, instructions or directions issued by the cbdt upon such authorities and all other persons employed in the execution of the income-tax act.4.4 the very purpose behind issuance of the instructions, as it has been misconceived by the learned dr is not to curtail the right of the ..... law and ensure a fair enforcement of its provisions by issuing circulars in exercise of its statutory powers under section 119 of the income-tax act, which are binding on the authorities in the administration of the act. under section 119(2)(a), however, " the circulars as contemplated therein cannot be adverse to the assessee....the power is .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (2006)100ITD301Indore
..... seeds, wheat seeds, etc. its plant is situated at kshipra and godowns at kshipra, rakhodiwala compound and harda. an operation under section 132(1) of the income-tax act was carried out at the business and residential premises belonging to the assessee company, its directors and their family members on 5-6-2002. in the course of search ..... only the excess over the cost incurred could be treated as profit. the hon'ble calcutta high court in the case of cit v. s.m. omer , held that section 69 of the it act, 1961 was not applicable in the instant case. the assessee supplied the goods after incurring certain cost and after manufacturing the goods and the ..... amount that was received from the defence department could not represent the net income but it was the sum received including the profit and .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Indore
Reported in : (1982)1ITD343Indore
1. the appellant-assessee by this appeal under section 253(1) of the income-tax act, 1961 ("the act"), challenges the first appellate order dated 3-12-1980 of shri rajendra mohan, the learned commissioner (appeals), for the assessment year 1967-68, inter alia, on the following ground : the ..... to tax had escaped assessment.the omission on the part of the assessee is said to be that it had not shown the appreciated amount of rs. 61,574 in its income and in fact the same was directly credited to the contingency fund account. in these circumstances, the learned ito initiated reopening proceedings under section 147(o) of the act, with ..... the revenue authorities and further contended that about the sum of rs. 61,574 full information was not supplied by the assessee and that, therefore, the escapement of income chargeable to income-tax occurred on account of failure on the part of the assessee to fully and truly disclose primary and material facts at the relevant time. he continued that the full .....
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