Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD62(Mum.)
..... that even bona fide changes, if too frequent, would disentitle the assessee to have his yearly income computed in accordance with his own changing methods and to justify an assessment under section 143(3) of the income-tax act, 1961 ('the act'), because the assessee's method of accounting becomes acceptable only if it is regularly employed.referring ..... to page 171 of the same commentary, he stated that the income aeerued to assessee when it acquired a right to receive the same ..... the assessee is entitled to change the system of accounting regularly employed by him. then he referred to page 872 of kanga and palkkivala's commentary on income-tax, seventh edition, for the proposition that a bona fide change of the regular basis of accounting must be accepted by the department and may be given .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)1ITD1031(Mum.)
..... 27-11-1976. a draft assessment order was served on the assessee on 30-3-1979 under section 144b of the income-tax act, 1961 ("the act"). since there was variation in the income returned and the income proposed to be assessed by more than a lakh of rupees, the assessee by its letter dated 3-4-1979 requested for extension ..... or section 144 made on the basis of directions issued by the inspecting assistant commissioner under section 144b ; (i) an order made by an income-tax officer under the provisions of this act in the case of such persons or classes of persons as the board may, having regard to the nature of the cases, the complexities involved ..... relevant provisions of the section reads as follows : 144b. (1) notwithstanding anything contained in this act, where, in an assessment to be made under sub-section (3) of section 143, the income-tax officer proposes to make any variation in the income or loss returned which is prejudicial to the assessee and the amount of such variation exceeds the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD132(Mum.)
..... of the commissioner dated 12-1-1981 passed under section 24(2) of the gift-tax act, 1958 ('the act'). by his impugned order, the commissioner has cancelled the order of the assessment made by the gto on 20-3-1979 under section 15(1) of the act. the said assessment was completed by the gto, after accepting the assessee's return filed ..... . there can be no dispute that gifts made by a person on or after 1-4-1958 are chargeable to gift-tax as laid down under section 3 of the act and that 'gift' defined in section 2(xii) of the act is 'transfer' by one person to another of existing movable or immovable property, etc. however, when and in what ..... v.mst. domini kuer airhiralal agrawal v. rampadarath singh [1969] 1 scr 328 where section 47 of the registration act, it is stated, was considered and explained. reliance is placed on the supreme court decision in the case of alapati venkataramiah v. cit [1965] 57 itr 185 to show that the observation of the supreme court in bhurangya coal co. (supra) .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)8ITD57(Mum.)
..... act on 24-3-1976. in response thereto the assessee filed a return showing nil income. thereafter there were hearings, notices were issued by the ito and explanations were given by ..... the sale price of the assessee's know-how, etc., was taxable and that income had escaped assessment on account of the assessee's not filing its return of income for the assessment year 1967-68. accordingly, he initiated proceedings under section 147(a) of the income-tax act, 1961 ('the act'), and with the approval of the commissioner issued a notice under section 148 of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD244(Mum.)
..... received from the superannuation fund rs. 25,823. the ito brought this amount to tax. on appeal, the aac deleted the addition. he, however, held that the amount received should be taxed under the fourth schedule, part b, at the rates specified in rule 6 therein, of the income-tax act, 1961 ('the act').2. against this finding, both the assessee and the department are on appeal ..... ). this rule is part of the statute and, therefore, has statutory force. but the rule merely directs that tax should be deducted at source. it nowhere declares that it represents income. in this, the provisions of the 1961 act are different from the 1922 act where section 58s provided for such a deeming charge, as shri khare pointed out.20. so, we come to a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)8ITD693(Mum.)
..... india and rendered services as an officer of the assessee-american company. reliance was also placed on the provisions of section 9(1)(vi) of the income-tax act, 1961 ('the act') which deemed any payment of royalty as income arising in india.5. the assessee had claimed certain expenses to be set off against the royalties if the same is held as taxable. the ..... we have heard the parties. the issues arising in this appeal could be framed as follows: 1. on the facts of this case, does any income accrue or arise in india under section 5(2) of the act 3. is it royalty governed by clause (vi) or is it fees for technical services governed by clause (vii) 12. the issue whether any ..... income accrues under section 5(2) itself has to be largely decided on factual findings. the assessee had relied on the supreme court decision in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD67(Mum.)
..... notice obtains in section 149 of the 1961 act which provides that no notice under section 148 shall be issued after the prescribed time-limit. the ..... court in the case of jai hanuman trading co. (p.) ltd. v. cit [1977] 110 itr 36 (fb) to stress the point that what was required was only issuance of the notice and not service thereof.6. section 148 of the income-tax act, 1961 ('the 1961 act'), provides for service of a notice on the assessee. the time-limit for ..... for taking action for reassessment under the companies (profits) surtax act obtains at section 8(6) of the same, which runs as under : (b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part of the assessee, the income-tax officer has in consequence of information in his possession reason to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD33(Mum.)
..... gains. in the case of nirbheram (supra), the madhya pradesh high court has considered the scope of the explanation to section 251 of the income-tax act, 1961 which was not. present in section 31(3) of the indian income-tax act, 1922, considered by the supreme court in the cases cited earlier. it was held that the words 'any matter arising out of the ..... which the relevant previous year ended on 31-3-1977.2. the only ground raised in the appeal is that the aac erred in bringing to tax a sum of rs. 15,000 as income from profession.3. the assessee was carrying on the profession of consulting engineer for over 40 years. due to advancing age and also indifferent health, ..... amount received by the assessee under the sale deed to cover the outstanding fees should be brought to tax as income from profession. after issuing a notice of enhancement to the assessee, he brought to tax a sum of rs. 15,000 as income from profession. the assessee has come up in appeal against the order. it was contended by the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)2ITD631(Mum.)
..... as the ito having accepted the return filed by the assessee, the assessee was in no way aggrieved so as to resort to the appeal provisions of the income-tax act, 1961 ('the act').3. on this additional ground the learned counsel for the assessee has challenged it, claiming that the ground not having been taken before the commissioner (appeals), ..... for the illegal recovery was when the supreme court pronounced its judgment and that such a plea would have been competent under section 22b of the sales tax act. section 22b gave power to the prescribed authority to extend the period of limitation if it is satisfied that the party applying for such extension had sufficient ..... cause for not preferring the appeal or making the application within such period. section 23 a of the sales tax act provided for rectification of the mistake. the facts of the case indicate that this was a clear case of a mistaken payment, the supreme court having given .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD128(Mum.)
..... that it supplies bags and containers to certain exporters who export their own goods in the same. on these facts, the assessee claimed weighted deduction under section 35b of the income-tax act, 1961 ('the act') in respect of the following expenditure :si. assessment year nature of amount ofno. expenditure expenditure1.1975-76 (a)salary for staff rs. 40,131 (b)membership 7. the ito ..... ground that actual export was not necessary for getting the benefit of weighted deduction. in this connection he referred to the decision of the supreme court in the case of cit v. indian hotels ltd. [slp no. 4177 of 1979].9. dissatisfied with the order of the commissioner (appeals) both the parties are in appeal before the tribunal.10. before us .....
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