Judgment Search Results Home > Cases Phrase: income tax act 1961 section 237 refunds Court: income tax appellate tribunal itat lucknow Page 7 of about 81 results (0.512 seconds)

income Tax Officer Vs. Dr. Sameer Kant Agarwal

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2008)113TTJLuck252

..... be added to his total income for income-tax purposes. the assessee could neither produce donors nor furnish any explanation about nature and source of alleged gifts. hence, assessment was completed treating the amount to the tune of rs. 6.50 lakhs as unexplained cash credit under section 68 of the act. the ao also initiated proceedings under section 271(1)(c) ..... of agreed addition. the ilon'ble supreme court of india in the case of cit v. suresh chandra mittal (supra) held that if the assessee had offered additional income to buy peace of mind and to avoid litigation, penalty under section 271(1)(c) of the act could not be levied.17. in view of the, above, we do not ..... case, assessment was completed under section 143(3) of the act on a total income of rs. 8,80,280 as against returned income of rs. 1,95,010. aggrieved by the order of the ao, assessee carried the matter in appeal before the learned cit(a), bareilly who reduced assessee's income to rs. 8,39,955 which included the amount of .....

Entee Builders Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2003)78TTJLuck952

..... the provisions contained under it act, 1961. (iv) whether the notice under section 148 was issued on the basis of facts coming subsequently to the ..... the material facts truly and fully, etc. in view of the provisions contained under section 147(a) of it act, 1961, or on the ground that the ao came in possession of some information and in consequence of such information, he believed that the income chargeable to tax has escaped assessment. (iii) whether the notice issued under section 148 was time-barred in view of .....

The Jt. Cit, Range-iii Vs. Shri Dev Raj Agarwal

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)92ITD249Luck

..... income tax appeals and rs. 2,000/- or less in respect of appeals in other direct taxes. paras no. 1,3.1 and 4 of the said circular being relevant in the present context are reproduced below : "at present the board exercises centralized control in regard to filing of references under the i.t. act and other tax acts ..... monetary limit prescribed in that instruction. for facilitation, the full instruction no. 1979 is reproduced below: sub : revising monetary limits for filing departmental appeals/references before income-tax appellate tribunal, high courts and supreme court - measures for reducing litigation - regarding - reference is invited to board's instructions no. 1903 dated 28th october, 1992 ..... and instruction no. 1777 dated 4th november, 1987 wherein monetary limits of rs. 25,000/- for departmental appeals (in income-tax matters) before the appellate tribunal, rs. 50,000/- for filing reference to the high court and rs. 1,50,000/- for filing appeal to the .....

Dr. Bhim Rao Ambedkar Educational Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2008)114TTJLuck965

..... enquiry regarding the genuineness of the activities cannot be stretched beyond this. sufficient safeguards having been given in sections 11, 12 and 13 of the it act, 1961 for assessing the income which has not been applied to the purpose of the trust or the institution, the intention of the law maker and scope and purport of the ..... its objects and therefore he was not justified in refusing the registration to the assessee society under section 12a of the it act, 1961. he further submitted that in refusing the registration to assessee society, the cit erred on facts in making alleged observation in relation to the accounts in the body of the order which are not ..... students have during the financial year 2005-06 paid rs. 25,000 each towards the building development of chandra dental college and hospital, safedabad, barabanki. the cit observed that when the matter was enquired into, it came to notice that none of the parents ever paid any amount towards 'building development charges receipt in .....

Rajendra Singh Vs. Assistant Commissioner of Gift

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2003)80TTJLuck625

..... to the purchaser, irrespective of the fact whether the consideration for the transfer had passed or not. in this connection, your kind attention is invited to palkhivala's commentary on income-tax (eight edition), vol. 1, p. 765 extract from which is reproduced below : year of chargeability--for determining the year of chargeability, the relevant date is not the date ..... by their lordships of the hon'ble madras high court. it has been pointed out that the provision of section 4 of the gt act is similar to one in section 16 of the it act, 1961, it was also pointed out that when transfer of property belonging to a minor is challenged or the adequacy of consideration in a suit ..... also pointed out that the value of the shares was to be determined in accordance with the schedule ii of it act, 1961, (sic-gt act, 1958) and, thus, the ao was fully entitled to proceed under section 16(1) of the gt act. he also pointed out that there is no dispute about the quoted price of the shares, which goes to .....

Saroj Nursing Home Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2005)98TTJLuck1051

..... share the asset of the firm only after a surplus is left. this is amply borne out from section 49 of the indian partnership act, which is fully applicable to income-tax proceedings as well; the reason being that the it act itself does not contain any definition of the 'firm', 'partner' and 'partnership'. sub-section (23) of section 2 says that "firm", " ..... as the liability to pay arises. (it is a different matter that, in view of the provision of section 43b of the it act, it would be allowed as a deduction only on actual payment; or that income-tax is not allowed as a deduction in any case). in cash system of accounting, the debit entry has to be made when the ..... not at par with the income-tax liability. therefore, the said case law cannot be said to be having any application here. in this case the hon'ble bombay high court has held that the deduction of interest under section 10(2)(iii) of the old act of 1922 corresponding to section 36(1)(iii) of the "act" of 1961, can be allowed only .....

Santosh NaraIn Kapoor Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2008)115TTJLuck402

..... april, 2002 and 3rd oct., 2003 and the revised returned income was of rs. 23,74,641 and the same income was assessed vide order under section 143(3)/148 of the it act, 1961 dt. 31st dec, 2003 after further addition of rs. 50,000 surrendered during assessment proceedings. he further submitted that due tax as per return were paid including interest before filing the ..... rs. 6,31,800 under section 271(1)(c) of the it act, 1961. 4.6 the appellant alone knew the true nature and source of deposits he had himself made his bank accounts which he had originally accounted for as gifts but subsequently in three stages surrendered as his income for tax. either in the penalty proceedings or in the appellate proceedings the appellant .....

Smt. Savitri Devi, Anil Kumar Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... special procedure for assessment of search cases and provides for assessment of undisclosed income as a result of search. according to him, under section 158bb(1) r/w section 158bc of it act, 1961, what is assessed is the undisclosed income of the block period and not the total income or loss of the previous years required to be assessed in the normal ..... view that the addition made on account of investment in the house property cannot be sustained as the same is not covered and included in the "undisclosed income".shri b.k. agrawal v. asstt. cit (ita no.1699/all/1994), dt. 31st may, 2001), we have considered a similar point and have observed that in the scheme oi chapter ..... 1(5), kanpur to circle 2(3) of kanpur vide his order dt. 31st oct., 1997, and accordingly a fresh notice under section 158bc was issued by the dy. cit, circle 2(3), kanpur, which was served on 6th nov., 1997.13. after considering the above factual aspect, we find sufficient force in the submissions of the learned senior .....

U.P. State Nagariya Sankari Bank Vs. the Ito Ii(2)

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2007)108ITD332Luck

..... sources and in not assessing the said income earned by the assessee from its own members, as exempt from tax on the principles of mutuality.3. the assessee society was formed on 18.7.1992 and had moved an application for registration with registrar of societies under the up co-operative societies act, 1965. during the course of assessment ..... identity with, the funds and their participation in the surplus arising from the said fund is unmistakably found then the principles of mutuality will apply and income will be exempted from tax. in the case of royal estern india turf club ltd cited supra, it was found that there was no contribution to a common fund for payment ..... its development and for providing better amenities to its members. this was so held in the decision in the case of cit v. nataraj finance corporation 9. in view of aforementioned discussion, we hold that the income earned by the assessee was exempt on the concept of mutuality for assessment year 1996-97 and 1997-98 and earned .....

Narendra Kumar JaIn Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... a person. it may be pointed out that despite specific directions, the department has not been able to produce any warrant of authorization issued under- section 132 of it act, 1961, for conducting search. on 18th feb., 2000, and on 15th feb., 2001, specific directions were issued in ita no. 1853/a11/1996 to the learned departmental ..... etc. or that any person is in possession of any money, bullion, jewellery or other valuable articles or things, which represents his undisclosed income. thus, section 132 casts a duty on the cit to apply his mind and to proceed to take action under this provision only when ground for reason to believe exists. in the present ..... search and which were relating to the assessee. in any, case, even if some valuable assets or documents or any incriminating material was found relating to undisclosed income of the assessee during the course of search in the case of the company, then also proceedings for block assessment under section 158bc cannot be sustained. in that .....