Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1989)29ITD302(Hyd.)
..... actual date not known. that the appellant filed an appeal, though belated ; that the assessee could file cross-objections under section 253(4) of the income-tax act, 1961 (referred as act for brief) within one month from the date of the receipt of the appeal memo filed by the revenue. that although the appeal was filed clearly out ..... placed in this respect on a decision rendered by the rajasthan high court in deep chand kothari v. cit [1987] 35 taxman 223 which is more direct on the controversy. we quote from the head-notes : section 250 of the income-tax act, 1961 - appellate assistant commissioner/commissioner (appeals) - powers of - whether in a case where aac decides ..... has an identity of its own and stands separate and distinct from the appeal and should be disposed of in the manner provided for under the income-tax act and income-tax rules. in hukumchand mills ltd.'s case (supra), the supreme court held that the powers of the appellate tribunal in dealing with appeals are expressed .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2005)2SOT696(Hyd.)
..... 87 to 1996-97 in the first three appeals and 1987-88 to 1997-98 in the next four appeals under section 158bd read with section 158bc of the income tax act, 1961.as the search and seizure operation was on 5-8-1996, first appeals are filed before this tribunal and as the issue arising out of these appeals are ..... judicial and quasi judicial controversies as it must in other spheres of human activity. so far as the income-tax assessment orders are concerned, they cannot be reopened on the score of income escaping assessment under section 147 of the act of 1961 after the expiry of four years from the end of the assessment year unless there be omission or failure ..... the notice. the assessments were completed ex parte. procedure regarding service of notice has been laid down in section 282 of the income tax act. section 282(1) provides that a notice or requisition under the act may be served on the person concerned either by post or as if it was summons issued by court under code of civil procedure .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1986)18ITD360(Hyd.)
..... order of the aac are left untouched and to that extent the ito's assessment order survives, permitting exercise of revisional jurisdiction by the commissioner under section 263 of the income-tax act, 1961.... (p. 3) in this case, the finding of the learned commissioner is that the subject-matter concerning his revisionary orders were not considered by the ito at the time of ..... first appellate authority had the powers of enhancement just like he had the said authority under section 251 of the income-tax act, 1961 ('the 1961 act'). it is submitted that if the ito had once considered the particular point (amount) the commissioner (appeals) can order enhancement with regard to the same amount considered by the ito. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2005)92ITD84(Hyd.)
..... stood thus, the assessing officer passed orders dated 27-3-1991 under section 154 read with section 254 of income-tax act, 1961 to give effect to the order of the itat dated 15-11-1989. the assessing officer brought to tax the profits arising out of the sale of plots in question as `capital gains'. this order was challenged ..... therefore, i decline to interfere with the assessing officer's order passed under section 143(3) read with section 263 of the it act, 1961 dated 28-3-2001.11. the orders passed by the learned commissioner of income-tax (appeals) were challenged before us and they give rise to the second batch of appeals.12. all these appeals were taken ..... and quasi-judicial controversies as it must in other spheres of human activity. so far as the income-tax assessment orders are concerned, they cannot be reopened on the score of income escaping assessment under section 147 of the act of 1961 after the expiry of four years from the end of the assessment year unless there be omission or .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2006)100TTJ(Hyd.)236
..... occasion to deal with the claims of a number of clubs seeking benefits based on the principle of mutuality. in that case, this court held (headnote) under the income-tax act, what is taxed is the 'income, profits and gains' earned or 'arising', 'accruing' to a 'person'. where a number of persons combine together and contribute to a common fund for the financing of some ..... royal western india turf club ltd. , otherwise this court in that judgment had accepted that, in regard to the businesses governed by the doctrine of mutuality, the levy of tax under the income tax act did not arise.8.10 thus, going by the proposition laid down by the hon'ble supreme court, to hold that the assessee cannot claim exemption on principles of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2003)87ITD359(Hyd.)
..... 10-1994. he worked out the relevant values on the relevant valuation dates by backward calculation applying the cost of inflation index relevant to capital gains under the income-tax act, 1961 to the said compensation. he rejected the claim of the assessee that the values of she jewellery have to be determined on the basis of the report ..... at this juncture, the only questions of material importance the present proceedings are i. how many items of jewellery qualify for exemption under section 47(ix) of the income-tax act, 1961? and ii. whether the amount received as interest by the trustees on 12-1-1995 is taxable or not? to qualify for exemption under section 47(ix), any ..... item has to be a work of art, archaeological, scientific or art collection etc. no definition is available in the income-tax act for the terms 'work of art'. the assessee did not produce any cogent evidence to prove all the items as works of art. therefore efforts were made to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2004)90ITD493(Hyd.)
..... 11 of the i.t.act.the assessing officer held that the assessee violated the provisions of section 13(1 ..... the assessee against the order of the commissioner of income-tax (appeals)-i, hyderabad, dated 12-11-2001, for asst. year 1997-98.2. the assessee is a society registered under section 12a of the income-tax act, 1961. the assessee had filed its return of income for the asst. year 1997-98 on 24-10-1997 declaring 'nil' income after claiming exemption under the provision of section .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2004)268ITR23(Hyd.)
..... the facts and in the circumstances of the case, the excise duty paid in advance for importing liquor can be allowed as a deduction under section 43b of the income-tax act, 1961, irrespective of whether the goods have been received during the year under consideration or not?" 2. facts of the case lie in a small compass, but the ..... stock. he further held that such payments were made towards the discharge of a statutory liability and so the deduction was allowable under s.37 of the income-tax act read with s.43b. the cit(a) framed the following issues as arising for consideration in these appeals - "(1) whether the countervailing duty is different from the excise duty (2) ..... not properly be deduced therefrom. it was therefore, not only the right but the duty of the income-tax officer to act in exercise of his statutory powers for determining what, in his opinion, would be the correct income." 39. the decision of the apex court in the case of hindustan sugar mills v/s. state of rajasthan and .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2004)91ITD573(Hyd.)
..... area of taxation which is covered by the income-tax act, 1961, which is also an act of parliament operating in its particular field. thus, there is no inconsistency or anomaly between the income-tax act and the rbi act, because these acts operate in different fields. for the proposition that income-tax act and rbi act have different fields of operation, the learned dr ..... debtors' account as amount realisable, the ao held that the same could not be allowed as an expenditure under section 37(1) of the income-tax act, 1961. the cit (a) was of the view that by making a claim in the computation statement without duly reflecting the same in the books of account would ..... force or any instrument having effect by virtue of any such law." as such, the provisions of section 45ja contained in chapter iiib of the rbi act override the income-tax act, 1961, as well as the agreements entered into between the assessee company and its hirer/lessees/loanees.in peerless general finance & investment co. ltd. and .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)106ITD256(Hyd.)
..... 1964 lll itr -short notes of current cases- 2) relied upon by the assessee, examining the retrospective or otherwise nature of the provisions of section 155 of the income tax act, 1961, hon'ble andhra pradesh high court held as follows- (ii) that in the absence of express words or necessary implication to the contrary a statute which was not ..... amendment made to the provisions of section 80p(2)(a)(iii).facts before the apex court in that case are that section 80p(2)(a)(iii)'of the income tax act, 1961 as originally inserted provided that in the case of a co-operative society engaged in (iii) the marketing of the agricultural produce of its members" the whole ..... gathered during the course of search, the commissioner(central) found that there have been several instances of violation of the provisions of section 11 to 13 of the income-tax act, 1961. he accordingly issued a show-cause notice on 15.11.2003 to the assessee, calling for its explanation within ten days from the receipt thereof, in the .....
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