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Commissioner of Income-tax Vs. Arun Kumar Agrawal

Court : Allahabad

Reported in : [2010]320ITR372(All)

..... the income-tax appellate tribunal, allahabad has referred the following question of law under section 256(1) of the income-tax act, 1961, hereinafter referred to as 'the act' for opinion to this court:whether, on the facts and in the circumstances of the case, the appellate tribunal was legally correct in cancelling the penalty of rs. ..... 42,242 imposed under section 271b of the act on the ground that no penalty under the said section is exigible if the audit report is obtained within the specified time, though not furnished within time allowed for filing of the return under section 139(1) of the income-tax act, 1961?2. ..... however, the assessing officer was of the view that the assessee was also required to file his audited accounts within the specified time under section 139(1) of the act upon which he issued a show-cause notice to the assessee. ..... against the said order the assessee preferred an appeal before the commissioner of income-tax (appeals), who upheld the order of the assessing officer. ..... however, the assessing officer not having been satisfied with the plea taken by the assessee vide order dated october 14, 1992, imposed a penalty of rs. ..... the present reference relates to the assessment year 1990-91.3. .....

g.v.infosutions Pvt. Ltd. Vs.deputy Commissioner of Income Tax, Circle ...

Court : Delhi

..... correctness of assessment not to be questioned. ..... facts for the purpose of deciding this writ petition are that the petitioner/assessee filed its income tax return on 20.09.2013, covering assessment year 2013-2014. ..... section 242 of the 1961 act is apposite and is reproduced below:-" 242. ..... both, under the company act as well as under the income tax act, the assessee company was liable to record each transaction i.e ..... the petitioner is aggrieved by an order of the commissioner of income tax, rejecting its application under section 119(2)(b). ..... the assessment order or the order quantifying the income or taxable wealth cannot be challenged on merits while the authorities examine the question of ..... (c) no.8436/2018 page 4 of 8 auditor/chartered accountant in the calculation while filing the return; secondly, the court notices that the amount in fact reflected on the web portal maintained by the income tax department itself at the relevant time. ..... (see commissioner of income tax, west bengal vs. ..... sumit lalchandani, advocates versus deputy commissioner of income tax, circle102), & anr. ........ ..... (supra) a division bench of this court, while dealing with the claim for refund, which was made belatedly but rejected by the revenue, considered the relevant judgments of the supreme court including commissioner of income tax vs. ..... income tax officer, [2012 343 itr44delhi)]..5 ..... an assessment order or an order quantifying the income/net wealth can be rectified or modified in the proceedings as contemplated by the .....

M/S. Kamma Sangham,hydera Vs. the Director of Income Tax (Exemptions),

Court : Andhra Pradesh

..... on the facts and in the circumstances of the case whether the tribunal was correct in law in perversely bolding that the investment made in immovable property was not for charitable purpose despite the provisions of section 11(5) of the income tax act, 1961 treating such investment as application for charitable purpose?. 2. ..... 2) in this matter, the learned tribunal has refused to interfere with the judgment and order of the commissioner of income tax (appeals) by which the commissioner dismissed the appeal filed by the appellant by confirming the order of the assessing officer not allowing exemption under section 11 of the income tax act, 1961 (for short, ".the act". ..... of 2014 judgment: (per the hon'ble the chief justice sr.kalyan jyoti sengupta) this appeal is sought to be preferred and admitted against the judgment and order dated 23.11.2011 of the learned tribunal in relation to the assessment year 2001-02 on the following suggested questions of law. ".1. ..... (2000) 242 itr457in the high court of judicature, andhra pradesh at hyderabad the hon'ble the chief justice sr.kalyan jyoti sengupta and the hon'ble sr.justice sanjay kumar i.t.t.a.no.613 of2013date: 22.01.2014 this court made .....

O.C.M. Ltd. Vs. Commissioner of Income-tax and anr.

Court : Allahabad

Reported in : (1982)29CTR(All)295; [1982]138ITR689(All); [1982]10TAXMAN209(All)

..... your claim cannot be accepted in view of the fact that the company is precluded in terms of section 242 of the income-tax act, 1961, from seeking a review of the computation of the total income which has become final by making an application under section 237 of the income-tax act, 1961.'5. ..... thereafter at the instance of the assessee the appellate tribunal referred the following question of law for the opinion of this court : ' whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the assessee's claim for refund was hit by section 242 and, therefore, the same was properly rejected '7. ..... the tribunal as well dismissed the appeal on the view that the petitioner's claim for refund after the assessment had become final was hit by section 242 of the act. ..... this question forms the subject-matter of consideration in income-tax reference no. ..... in the present case it was only an inadvertent mistake which had occurred on the part of the assessee and when it filed the revised return with a request to reopen the assessment, we do not think that the ito was justified in refusing to do so. ..... the question which falls for consideration is as to whether the ito was justified in not reopening the assessment when as a result of inadvertent mistake the petitioner omitted to mention in its return, the interim dividend income received by it from o.c.m. ..... 11,500 from out of the interim dividend received from this subsidiary company as well, was not correct. 4. .....

Hind Products Pvt. Ltd. Vs. Commissioner of Income-tax, Bombay City-1

Court : Mumbai

Reported in : (1979)12CTR(Bom)40; [1980]121ITR903(Bom)

..... 2,242 (rupees two thousand tow hundred and forth-two) under section 273(a) of the income-tax act, 1961 ?' 6. mr. ..... course of any proceedings under the act, is satisfied that any person had concealed the particulars of his income or deliberately furnished inaccurate particulars of such income, he or it may direct that such person shall pay by way of penalty, in the case of clause (c), in addition to any tax payable by him, a sum not exceeding one and a half times the amount of the income-tax and super-tax, if any, which would have been avoided if the income as returned by such person had been accepted as the correct income. 10. ..... the relevant part thereof reads as follows : 'if the income-tax officer, in the course of any proceedings in connection with the regular assessment, is satisfied that any assessee - (a) has furnished under sub-section (2) or sub-section (3) estimates of the tax payable by him which he knew or had reason to believe to be untrue, or.... ..... whether a person had knowingly filed a false estimate or he had reason to believe that the estimate is untrue is a question which has to be determined on the material appearing in each case. .....

Sri Rajarathinam Transports Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [1993]199ITR203(Mad)

..... whether on the facts and in the circumstances of this case, the tribunal's decision that the assessee in not entitled to in view of section 80 of the income-tax act, 1961, the depreciation and allowance in 1965-66 of depreciation relating to the earlier years even though they were not quantified and notified for carry forward in those assessment years is correct ?' 2. ..... claiming the benefit of allowance of the unabsorbed depreciation in a later year, when the correct head of income from business, profession or vacation, even through the assessee had not preferred appeal against the orders of the income-tax officer in respect of the earlier years and had rested content with those orders, in this case, there is no question of any change or alteration in the head or the source in income to justify the application of the principle laid down in western india oil distributing co. ..... in this tax case reference under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), at the instance of the assessee, the following question of law have been referred to this court for its opinion : '1. ..... rs.1960-61 30-9-60 29-4-66 29,160 13,016 13,016 no asse-ssmentmade1961-62 30-9-61 31-3-66 18,012 20,991 18,012 do.1962-63 30-9-62 29-4-66 2.304 21,242 2,304 do.1963-64 30-9-63 29-4-66 9,078 28,241 9,078 assessmentmade on21-8-67.income de-terminedrs. .....

Commissioner of Income-tax Vs. Sekar Offset Press

Court : Chennai

Reported in : [1995]214ITR516(Mad)

..... 2,79,871, relying upon explanation 3 to section 43(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'). ..... explanation 3 to section 43(1) of the act would be attracted only in cases where, before the date of acquisition by the assessee, the assets were at any time used by any other person for the purpose of his business and the income-tax officer is satisfied that the main purpose of the transfer of such assets, directly or indirectly to the assessee, was for the reduction of the liability to income-tax. ..... indeed, the question of liability to pay income-tax at the time of transfer would not have been in the mind of any one at all. ..... but, in this case, the income-tax officer has not recorded any such satisfaction. ..... 5,59,730, should be taken into consideration for the purpose of allowing depreciation as against the written down value taken by the income-tax officer in the assessment order passed for the assessment year 1976-77? ..... the tribunal was, therefore, of the view that the transfer of assets was not for the purpose of reducing the liability to income-tax. ..... 322 of 1981: 'whether on the facts and in the circumstances of the case, the appellate tribunal was correct in law in holding that the market value of the assets, viz., rs. ..... 242 of 1981: 'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that the market value of the assets taken over by the assessee-firm, viz., rs. .....

Commissioner of Income-tax - Ii Vs. Hindustan Marble (P.) Ltd.

Court : Gujarat

Reported in : [2009]179TAXMAN289(Guj)

..... it appears that on 21-2-1991 proceedings under section 132 of the income-tax act, 1961 ('the act') took place at the premises of the assessee and other two concerns ..... 438 of 2008:(a) whether the appellate tribunal has correctly appreciated the facts on record so as to direct the assessing officer to compute the unaccounted income in respect of under-invoicing on the figure of rs ..... (c) whether the appellate tribunal has correctly appreciated the facts on record so as to accept the assessee's contention that deficit in marble slab should be set off from the surplus of marble tiles without taking note of the production process and the wastage ?tax appeal no, 439 of 2008:(a) whether the appellate tribunal has correctly appreciated the facts on record so as to direct the assessing officer to compute the unaccounted income in respect of under-invoicing on the figure of rs ..... (b) whether the appellate tribunal has correctly appreciated the facts on record so as to direct the assessing officer to allow the entire claim of ..... (b) whether the appellate tribunal has correctly appreciated the facts on record so as to direct the assessing officer to allow the entire claim of ..... as to what should be the percentage adopted in a given set of facts of a case is a question of fact and it is not possible to accept the contention of the revenue that the impugned finding of the tribunal gives rise to a question of law, much less a substantial question of law.9. ..... 12,86,242 made in respect of unaccounted cash ?3 .....

K. Mahim Vs. Commissioner of Income-tax

Court : Kerala

Reported in : [1998]232ITR115(Ker)

..... 1966-67, respectively, and the questions expecting our answer are as follows :'assessment year 1967-68 : whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in holding that penalty was liable to be imposed on the assessee under section 271(1)(c) of the income-tax act, 1961, for the year 1967-68 on the ground of concealment of income relating to contract works assessment year 1966-67 : whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right ..... for completion of the judgment, the question that was framed was as follows (page 742) :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in law in deciding the appeal for the assessment year 1966-67 on the basis that filing of revised returns voluntarily by the assessee will exonerate the assessee from the penal provision under section 271(1)(c) of the income-tax act, 1961 ?'6. ..... it would be seen that even in regard to the assessment year in question, a specific conclusion is recorded to the following effect (page 750) ;'the correct income in relation to that source has now been fixed at rs. ..... considering the question from all angles, it is not possible to take any other view in the matter in the situation that it is more established that there is concealment.12. ..... 14,242. ..... 14,242, in the event of its being held that penalty is leviable.'8. ..... 14,242. ..... 12,242. .....

U.B. Engineering Ltd. Vs. Jt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)1113ITD577(Pune.)

..... in proceedings under section 147 of the income-tax act, 1961, the income-tax officer may bring to charge items of income which had escaped assessment other than or in addition to that item or items which have led to the issuance of the notice under section 148. ..... since there was a difference of opinion between the two members, the matter was referred to the hon'ble president of the income tax appellate tribunal, with a request that the question may be referred to a third member under section 255(4) of the income tax act, 1961. ..... where assessment is made under section 147 in respect of income which has escaped assessment, the income-tax officer's jurisdiction is confined to only such income which has escaped assessment or has been underassessed and does not extend to revising, reopening or reconsidering the whole assessment or permitting the assessee to reagitate questions which had been decided in the original assessment proceedings. ..... the affidavit, one of the contentions taken by the learned departmental representative was that the assessee's stand is contradictory - on the one hand the assessee says that bills of purchases of cylinders existed and depreciation was correctly claimed; but on the other hand assessee says that the claim was wrongly made, hence assessee wants to avail kvss. ..... reported in 242 itr 569 (ker), after considering various decisions including the decision of the hon'ble supreme court in the case of ito v. .....