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

Court : Income Tax Appellate Tribunal ITAT Amritsar

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

..... the fact that there was under invoicing for the assessment year under reference also. (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 ..... tribunal and anr., 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. concerned having jurisdiction over the case of the assessee. ..... that the order passed by the worthy commissioner of income-tax (appeals) is illegal and is perverse. 2. 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. .....

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

Court : Income Tax Appellate Tribunal ITAT Amritsar

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

..... 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 of 1922); or (d) where excessive loss or depreciation allowance has been computed. ..... 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 case, the re-assessment proceedings intimated by the a.o. and confirmed by the cit(a) are valid? (ii)if answer to question no. 1 above is in ..... treated to have been filed in response to notice under section 148 of the i.t. act. the assessee objected to the legality of the initiation 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 .....

Durga Prashad Goyal Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Amritsar

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

..... and was served upon the assessee on 31-3-1989, i.e., prior to the amendment in 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 ..... material information is necessary. he has further submitted that statement of smt. savitri devi was recorded which justified the initiation of proceeding under section 147 of the income tax act. learned departmental representative however, could not say as to whether the decision of special bench in the case of assam tea co. (supra) is challenged ..... been upheld by the dcommissioner (appeals) jalandhar." 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 has been taken in the grounds of appeal. learned .....

Shanker Rice Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

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

..... . the rejection 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. the facts in the present case are quite distinguishable and this ..... :- (3) purchases and sales are regulated by the relevant provisions of the punjab agriculture produce markets act, 1961. (4) paddy is liable to purchase tax under the punjab central sales tax act and the purchases made have been duly accepted by the excise & taxation dept., govt. of punjab.the tax authorities have clearly ignored, the aforesaid facts and proceeded to reject the books of account on .....

NavIn Kumar and Ashu Bagla Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Amritsar

..... me.the facts of the case are that two assessees before me were alleged to have received loans/deposits in violation of provisions of section 269ss of the income tax act, 1961. the aforesaid provisions in the relevant period provided as under:- "269ss. no person shall, after the 30-6-1984, take or accept from any other ..... provision of law. we hope that it constitutes 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." on having heard both the sides and considering the record, hon'ble jurisdictional high court has ..... . 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 .....

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

Court : Income Tax Appellate Tribunal ITAT Amritsar

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

..... the fact that there was underinvoicing for the assessment year under reference also.(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 assessing ..... 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 of the assessee. in the present case also, the order of the tribunal dated ..... "1. that the order passed by the worthy cit(a) is illegal and is perverse.2. 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 .....

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

..... engaged in advancement of any other object of general public utility. when an institution is not created for charitable purpose, it cannot claim exemption under section 11 of the income tax act, 1961. in the case reported at 225 itr 235 it has clearly been held that so long as there is provision of distribution of profit by way of dividend the ..... 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. i observe-that the assessing officer has not followed the directions of hon'ble itat. the hon'ble bench has held that "further while deciding the appeals the ..... raised the following ground of appeal no. 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. that on the facts and circumstances of the case and in law the ld. cit(a) has erred in passing the appellate order dated 14-3-2007 without giving an .....

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

Court : Income Tax Appellate Tribunal ITAT Amritsar

..... provision of law. we hope that it constitutes 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.22. on having heard both the sides and considering the record. hon'ble jurisdiction high court ..... and ors. 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 ..... .3. the facts of the case are that two assessees before me were alleged to have received loans/deposits in violation of provisions of section 269ss of the income tax act, 1961. the aforesaid provisions in the relevant period provided as under:- 269ss. no person shall, after the 30th day of june, 1984, take or accept from any .....

Wealth-tax Officer Vs. Walaiti Ram (Huf)

Court : Income Tax Appellate Tribunal ITAT Amritsar

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

..... 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 ?" as the issue involved in common and the facts are identical, these are dealt with together.2. reference as worded above shows that the difference is ..... shri dhillon either agrees with him or passes such an order as he considers appropriate. the matter could then be referred to a third member under section 255(3) of income-tax act, 1961, if need be' which is evident from d.o. no. f. 12-jd (at)/1986 (n.z.) dated 3rd march, 1986 and is on the record. thus, i have ..... the basis. hence, i set aside the order of the aac and restore that of the wto.order u/s 24(11) of the w.t. 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 .....

T.S. Manocha Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2006)98ITD242(Asr.)

..... of m/s. jammu bottling co.were taken over by buyer except for working directors.we may refer to section 28(va) of the income tax act which provides that the following income shall be chargeable to income-tax under the head "profits and gains of business and profession", "any sum, whether received or receivable, in cash or kind, under an ..... of cdbi (which were earlier under the management and control of the assessee) to swc as terminal benefit and is taxable under section 28(ii) of the income tax act or same is exempt as capital receipt being non-competition fee by executing deed of covenant". the third member considered the facts of the case decided the ..... or profession for a stipulated period with restrictive conditions. therefore, it was capital receipt in nature. he has further argued that section 28(ii)(a) of the income tax act is not applicable. the learned counsel for the assessee further argued that the findings of the authorities below are against the law and facts of the case as .....