Judgment Search Results Home > Cases Phrase: income tax act 1961 section 35cc omitted Court: income tax appellate tribunal itat amritsar Page 1 of about 116 results (0.676 seconds)

Assistant Commissioner of Income Vs. Sakay Traders

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2001)74ITD497(Asr.)

..... the return cannot be treated as a valid report by subsequent furnishing of the unsigned audit report for claiming deduction under section 80hhc of the income tax act, 1961.on the other hand, the learned counsel for the assessee has brought to our notice cbdt's circular no. ..... specified in detail in that circular) but does not file any evidence in support thereof then the assessing officer can prima facie disallow the same as inadmissible under, section 143(1)(a) of the income tax act, 1961 and the same, later on, cannot be allowed by the assessing officer by passing an order under section 154 even if the assessee subsequently furnished the evidence in support thereof. ..... where the sums referred to in the first proviso under section 43b had in fact been paid on or before the due dates mentioned therein, but the evidence therefore had been omitted to be furnished along with tile return, the assessing officer's can entertain applications under section 154 for rectification of the intimation under section 143(1)(a) or orders under section 143(3), as the ease may be, and decide the ..... where the sums referred to in the first proviso to section 43b had, in fact, been paid on or before the due dates mentioned therein, but the evidence therefore, had been omitted to be furnished along with the return, the assessing officer can entertain applications under section 154 for rectification of the intimation under section 143(1)(a) or orders under section 143(3), as the case may be, and decide the same .....

The Asstt. Commr. of Income-tax Vs. Sachdeva and Sons

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2005)97TTJ(Asr.)1101

..... that the commissioner of income tax (appeals), amritsar, has grossly erred in confirming the action of the learned income-tax officer, ward v(4), amritsar in reopening the case of the assessee under section 148 of the income-tax act, 1961 on the basis of alleged statement by sh. ..... , 245 itr 659, the ld.dr submitted that the period of limitation for filing a reference under section 256 of the income-tax act, 1961 start from the date of service of the order of the tribunal on the c.i.t. ..... (xi) he also referred to the provisions of section 92 which refer to income-tax act, 1961 as per which if the business is carried on between a resident and non-resident and owing to close connection between them it appears to the ao that course of business is so arranged that such business produces less than the ordinary profit, the ao is required to determine the amount of reasonable profits and include such amount in total income of the resident. ..... on various documents seized during the course of search for which the assessee failed to rebut the presumption raised under the law that contents of the documents seized were "correct; he further referred to the provisions of section 92 of the income-tax act which was rightly invoked in the present case because of assessee's close connections with the foreign countries through whom transactions of under invoicing were routed. .....

Sh. Durga Prashad Goyal Vs. the Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2006)98ITD227(Asr.)

..... - for the purposes of this section, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely:- (c) where such income has been made the subject of excessive relief under this act or under the indian income-tax act, 1922 (11 of 1922); or (d) where ..... hon'ble president of the income tax appellate tribunal has constituted a special bench under section 255(3) of the income tax act and referred the following questions:- (i)whether, on the facts and the circumstances of the ..... reasons for issue of notice under section 148 in both the assessment year in the case of durga prasad goel in which the assessing officer has referred to the search conducted at the residence of shri purshotam dass mentioned above and further mentioned that the assessee has not filed income tax return for the assessment year 1982 ..... of reassessment proceedings on the plea that full facts of credits were before income tax officer at the time of regular assessments, so the notices under section 148 could not be issued. ..... assessing officer has reason to believe that, by reason of the omission or failure on the part of an assessee to make a return under section 139 for any assessment year to the assessing officer or to disclose fully and truly all material facts necessary for his assessment for that year, income chargeable to tax has escaped assessment for that year, or (b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part .....

Durga Prashad Goyal Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2006)98ITD0227S(Asr.)

..... section 147 of the income tax act.section 147 of the income tax act prior to the substitution by direct tax laws (amendment) act, 1987 with effect from 1-4-1989, stood as under:- (a) 'off the assessing officer has reason to believe that, by reason of the omission or failure on the part of an assessee to make a return under section 139 for any assessment year to the assessing officer or to disclose fully and truly all material facts necessary for his assessment for that year, income chargeable to tax ..... facts, we are of the view that assessing officer did not validly assumed jurisdiction in initiating proceedings under section 147 of the income tax act.considering the above discussion and relying on earlier order of itat amritsar special bench in case of assam ..... reassess such income or-recompute the loss or the depreciation allowance, as the case may be, for the assessment year concerned (hereafter in sections 148 to 153 referred to as the relevant assessment year).explanation 1.for the purposes of this section, the following shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely :- (c) where such income has been made the subject of excessive relief under this act or under the indian income tax act, 1922 (11 ..... " the learned counsel for the assessee submitted that the legality and initiation of proceedings under section 147 of the income tax act have already been challenged in the case of the assessee durga parshad goyal and a specific ground .....

Shanker Rice Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2000)72ITD139(Asr.)

..... of accounts by the ito and the fixation of the quantum were confirmed on revision and on an application for revision under section 78 of the kerala agriculture income-tax act, 1950, their lordships of the kerala high court confirmed the view taken by the ito on all the grounds. ..... their lordships it was for the income-tax authorities to consider all the material placed before them and if after taking into account the absence of a stock register and other material they were of the opinion that correct profits could not be deduced from the accounts kept, then application of proviso to section 13 would be justified. ..... that there was no definite finding by the income-tax officer that the case fell within the proviso to section 13. ..... stated by us, the facts prevailing in the earlier two appeals are not relevant to decide the issue pertaining to the solitary addition of khudi phak made in the present case as different considerations have weighed with the tax authorities-the assessing officer in making the addition and the cit (a) in confirming the same.on the facts of the case, we hold that it would be fair and just to adopt the yield of khudi phak at 2% as ..... are :- (3) purchases and sales are regulated by the relevant provisions of the punjab agriculture produce markets act, 1961. ..... the assessee's records and it was also the further submission that the trade was regulated by the market committee concerned which was a requirement of the punjab agricultural produce markets act, 1961.12. .....

NavIn Kumar and Ashu Bagla Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Amritsar

..... shanthi (2002) 255 itr 258 (sc) and hon'ble supreme court while upholding the validity of the provision has held as under: "section 269ss of the income tax act, 1961, prescribing the mode of taking or accepting certain loans or deposits, is not discriminatory and it not violative of article 14 of the constitution of india; nor was it enacted ..... 274 itr 531 (p& h) in which commissioner of income tax has prayed for determination of the following question of law in appeal under section 260a before hon'ble punjab & haryana high court : "whether, on the facts and in the circumstances of the case, the hon'ble income tax appellate tribunal was justified in deleting the penalties imposed under sections 271d and 271e of the income tax act, 1961, amounting to rs. ..... provisions of section 271d of the income tax act, 1961 as he has held that all the loances have contravened the provisions of section 269ss of the income tax act, 1961. ..... a valid excuse and reasonable cause within the meaning of section 273b read with sections 271d, 271e of the income tax act, 1961.accordingly, we direct the assessing officer to delete the penalties ..... 000 in cash and thus has contravened the provisions of section 269ss of the income tax act, 1961, therefore, the penalty for each year is upheld to ..... 30,000 each imposed by the assessing officer under section 27 1 d of the income tax act, 1961 for each of the above mentioned assessment years.the facts of the cases are that during the course of assessment proceedings .....

Asstt. Commr. of Income Tax Vs. Sachdeva and Sons

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2006)97ITD425(Asr.)

..... (2000) 245 itr 659 (del), the learned departmental representative submitted that the period of limitation for filing a reference under section 256 of the income tax act, 1961, starts from the date of service of the order of the tribunal on the cit concerned having jurisdiction over the case ..... that the cit(a), amritsar, has grossly erred in confirming the action of the learned income tax officer, ward-v(4), amritsar, in reopening the case of the assessee under section 148 of the income tax act, 1961, on the basis of alleged statement by shri ashok sachdeva, partner of the assessee-firm before the enforcement directorate ..... to the provisions of section 92 which refer to income tax act, 1961 as per which if the business is carried on between a resident and non-resident and owing to close connection between them it appears to the assessing officer that course of business is so arranged that such business produces less than the ordinary profit, the assessing officer is required to determine the amount of reasonable profits and include such amount in total income of the resident. ..... cause notices issued by the fera, authorities, confessional statement of shri ashok sachdeva, statement of shri kranti arora and other statements recorded by the fera authorities for the purpose of initiating action under section 147 of the income tax act.now the issue that requires to be considered by this bench is whether such material was sufficient for the assessing officer for initiating action of under .....

The Dy. C.i.T., Range I Vs. J and K Small Scale Ind. Dev. Corp.

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2008)117TTJ(Asr.)706

..... cit(a) has erred in passing the appellate order dated 14-3-2007 without giving an opportunity of being heard to the assessing officer, which is mandatory as per provisions of section 250(1) and 250(2) of the income tax act, 1961, thus violating the principles of natural justice and therefore the order of cit(a) deserves to be declared as null and void. 2. ..... (a), bhatinda then the right course before him was to agitate the matter before hon'ble itat whereas the appeal before the hon'ble itat was only on the issue relating to exemption under section 11 of the income tax act, 1961. ..... when an institution is not created for charitable purpose, it cannot claim exemption under section 11 of the income tax act, 1961. ..... 1 in all these eases: the learned cit(a) has erred in allowing the assessee exemption under section 11 of the income tax act, 1961. 1. ..... " (supra), it had been held that on such rectified trust deed is pressed into service before the income tax authorities, the income tax officer will have to interpret such rectified instruction for finding out its legal effect, taking the instruction as it is in its actual amended form; that in the present case, the notice under section 143(3) of the income tax act for all the assessment years under consideration, were issued after the articles of association to the assessee .....

Shri NavIn Kumar S/O Shri Sohan Lal Vs. the Jt. C.i.T. [Alongwith I.T. ...

Court : Income Tax Appellate Tribunal ITAT Amritsar

..... reported in 255 itr 258 and hon'ble supreme court while upholding the validity of the provision has held as under: section 269ss of the income tax act, 1961, prescribing the mode of taking or accepting certain loans or deposits, is not discriminatory and it not violative of article 14 of the constitution of india; nor was it enacted by parliament without legislative competence. ..... juneja traders, fazilka under the provisions of section 271d of the income tax act, 1961 as he has held that all the loanees have contravened the provisions of section 269ss of the income tax act, 1961. ..... 30,000/- in cash and thus has contravened the provisions of section 269ss of the income tax act, 1961, therefore, the penalty for each year is upheld to the tune of rs. ..... sunil kumar goel determination of the following question of law in appeal under section 260a before hon'ble punjab & haryana high court: whether, on the facts and in the circumstances of the case, the hon'ble income tax appellate tribunal was justified in deleting the penalties imposed under section 271d and 271e of the income tax act 1961, amounting to rs. ..... 30.000/- each imposed by the ao under section 271d of the income-tax act, 1961 for each of the above mentioned assessment years.3. ..... the assessing officer on the other hand, observed that the assessee indulged in the contravention of the provision of section 269s6 and rendered himself liable to the penalty u/s 271d of the income tax act, 1961 and accordingly he imposed penalties of rs. .....

Wealth-tax Officer Vs. Walaiti Ram (Huf)

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (1998)66ITD46(Asr.)

..... act, 1957 read with section 255(4) of the income-tax act, 1961 as there is a difference or opinion on the point of applying the multiple for determining the market value of assessee's rented properties, we refer the case to the president of the appellate tribunal in accordance with section 24(11) of the wealth-tax act, 1957 read with section 255(4) of the income-tax act, 1961 ..... third member :- "as there is a difference of opinion on the point of applying the multiple for determining the market value of assessee's rented properties, we refer the case to the president of the appellate tribunal in accordance with section 24(11) of the wealth-tax act, 1957 read with section 244(4) of the income-tax act, 1961 ? ..... then be referred to a third member under section 255(3) of income-tax act, 1961, if need be' which is evident from ..... the hon'ble president has referred this matter to me under section 24(11) of the wealth-tax act read with section 255(4) of the income-tax act, on account of difference between the members of amritsar bench who ..... under section 23 of the income-tax act, the annual value of the property consisting of any building and land appurtenant thereto is as under :- "(a) the sum for which the property might reasonably be expected to let from year to year; ..... place the matter before the president of the tribunal so that he could have the case referred to a full bench of the tribunal consisting of three or more members for which there is provision in the income-tax act itself." 17. .....