Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (2003)84ITD124(All.)
..... he passes the order and, accordingly, it cannot be taken into consideration by the commissioner for the purposes of invoking this jurisdiction under this section, for he is not an appellate authority under the section and exercises only revision all jurisdiction and hence he can take into consideration only the record as it stood before the income-tax officer and the materials in such record for the purpose of ascertaining whether the order in question was erroneous and prejudicial to the interests of the revenue. ii. ..... we are constrained to note, though at the cost of repetition, that cit(c) has issued show-cause notice under section 263 of the income-tax act, 1961 mainly relying upon the order under section 132(5) and that the assessing officer accepted the revised return without properly examining the seized material in all the assessment years under consideration. ..... moreover, when the explanation offered by the assessee was accepted by the commissioner of income-tax with regard to the alleged undisclosed income of rupees one lakh, there was no error in the order passed by the income-tax officer in the case of the assessee in the assessment year 1974-75. .....
Tag this Judgment!Court : Allahabad
Reported in : [1978]111ITR111(All)
..... difficult to accept the contention on behalf of the assesseethat in an appeal filed against an order of assessment on other grounds itis open to the assessee to challenge the chargeability of interest by the income-tax officer under section 215(3), as a result of reduction of theamount on which interest was payable, by an order under section 154, or section 155, or section 250 or section 254 or section 260 or section 262 or; section 264 is altogether different from challenging in appeal the correctnessof the levy of interest under section 215.6. for the reasons stated above we answer the question referred to us in ..... commissioner of income-tax : [1977]107itr533(all) , a division bench of this court, while interpreting analogous provisions contained in the indian income-tax act, 1922, observed thus:'it would have been desirable to provide an appeal against the orderof the income-tux officer imposing interest in view of the amendments butunfortunately no corresponding amendment was made in section 30 and theposition remained as it was before ..... tax appellate tribunal, allahabad (shortly called 'the tribunal'), for the opinion of this court: 'whether, on the facts and in the circumstances of the case, the tribunal could direct the appellate assistant commissioner to give his decision on the additional ground which had been taken before him in the appeals for 1964-65 and 1965-66 that the income-tax officer has erred in charging penal interest under section 215 of the income-tax act, .....
Tag this Judgment!Court : Allahabad
Reported in : (1990)81CTR(All)296; [1991]187ITR465(All); [1990]51TAXMAN232(All)
..... applied under section 256(1) of the income-tax act, 1961, for referring certain questions of law said to arise out of the order of the ..... the following two questions have been referred under section 256 of the income-tax act, 1961 :'(1) whether, on the facts and circumstances of the case, out of the amount invested in the construction of the house, any amount can be said to have been invested out of the ..... the assessee made an application under section 256(1) of the income-tax act, 1961, and, consequently, the abovementioned questions were referred by the tribunal and this has ..... learned counsel for the assessee has urged that the tribunal has not correctly appreciated the law enunciated in section 227(2) of mulla's hindu law and in the case of radhey shyam shri krishna : [1982]137itr602(all) and has, therefore, erroneously held ..... section 227(2) of mulla's hindu law reads as follows :'227(2) similarly, where members of a joint family who have control over the joint estate, blend with that estate property in which they have separate interests, the effect is that all the property so blended ..... a result of such co-ownership, the possession and enjoyment of the properties is common ; fifthly, that no alienation of the property is possible unless it be for necessity, without the concurrence of the coparceners ; and, sixthly, that the interest of a deceased member lapses on his death to the survivors. ..... lucknow, and interest income of ..... by the assessee was without normal consideration of interest. .....
Tag this Judgment!Court : Allahabad
Reported in : [1963]50ITR678(All)
..... a revision application under section 33a(2) of the income-tax act before the commissioner of income-tax, uttar pradesh, against the order of assessment, inter alia, on the ground that the income from interest on the zamindari bonds could not be assessed under the provisions of the indian income-tax act. ..... we are, therefore, called upon to decide as to whether the amounts paid as interest are additional compensation or are interest on securities or income from other sources as is claimed by the respondents.section 6 of the indian income-tax act reads as follows :'save as otherwise provided by this act, the following heads of income, profits and gains, shall be chargeable to income-tax in the manner hereinafter appearing, namely :(i) salaries, (ii) interest on securities, (iii) income from property, (iv) profits and gains of business, profession or vocation, (v) ..... measured in terms of interest, and even though the word 'interest' may have been used, it may in substance be compensation (see commissioner of inland revenue v. ..... instalment.the learned advocate-general who has appeared for the petitioner has submitted that the additional amounts which are paid over the principal amount of a bond cannot be considered to be revenue receipts and are not in the nature of interest though described by that name both in the act as also in the rules. ..... respondents, on the other hand, is that is income from securities or from 'other sources' and as such a revenue receipt which is liable to be taxed. .....
Tag this Judgment!Court : Allahabad
Reported in : [1962]46ITR523(All)
..... of the two firms were members of the hindu undivided family.the partition and the setting up of the two partnership firms was treated by the excess profits tax authorities as being hit by the provisions of section 10a of the excess profits tax act and it was held that the partial partition in respect of the brocade business and the subsequent formation of the two partnerships and the carrying on of brocade ..... of the hindu undivided family, and that these profits could not be taken into consideration in computing the liability of the hindu undivided family for payment of excess profits tax.consequent upon the decision of the supreme court, the income-tax appellate tribunal on september 6, 1954, made an order under section 66(5) of the income-tax act cancelling the order of the excess profits tax officer under section 10a. ..... down that the income-tax appellate tribunal shall pass such orders as are necessary to dispose of the case conformably to the judgment of the high court and further under the proviso to sub-section (7) of section 66, any amount overpaid shall be liable to be refunded with such interest as the commissioner may allow ..... the other two provisions, the one in section 49e makes provision for refund to which the assessee may be entitled by way of set-off against tax, interest or penalty remaining payable by the assessee, while the other in section 49f makes provision for refund upon death, incapacity, bankruptcy or liquidation of the person entitled to claim refund by his .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1970All330; [1970]25STC383(All)
..... under the income-tax act, there is, of course, no appeal provided against the levy of interest under section 222 (2) but an order imposing interest under section 156 is open to revision by the commissioner under section 264 and is also liable to rectification under section 154. ..... sales tax act as arrears of land revenue, it is necessary for the sales tax officer to serve upon the assessee a notice of demand in pursuance of an order quantifying the amount of interest (even though it may not be an order of assessment) and on the assessee's failure to comply with the notice of demand to issue a recovery certificate to the collector specifying therein the amount of interest sought to be recovered.'69. ..... sales tax act prior to its amendment in 1964, it becomes obvious that a notice of demand was necessary even then in the case of penalty and interest because penalty and interest were also recoverable as arrears of land revenue under section 8 (8). ..... of the existence of the liability, of its amount, and of the person who is liable and the collector on receipt of the certificate shall proceed to recover from such person the amount specified therein as if it were an arrear of land revenue;provided that without prejudice to the powers conferred by this section the collector, shall for the purposes of recovering the amount specified in the certificate, have also all the powers which--(a) a collector has under the .....
Tag this Judgment!Court : Allahabad
Reported in : [2005]144TAXMAN682(All)
..... whether, on the facts and circumstances of the case, the income tax appellate tribunal was correct in law in holding that the interest under section 214(2) is payable to the assessee, from the date of regular assessment to the date of making refund, on the amount refundable as a result of excess amount paid only as a result of proceedings under section 155 of the income tax act, subsequent to the regular assessment?'2. ..... he further submitted that the tribunal has also rightly allowed the interest under section 214(2) of the act from the date of regular assessment to the date of making of refund as a result of the orders under section 155 of the act.6. ..... then again on 17-12-1982, there was a rectification under section 155 of the act whereby the determined share from all the six firms were taken in place of share taken originally subject to rectification and the income was revised to rs. ..... mahajan, learned standing counsel appearing for the revenue and sri a.n. ..... )due datedate of payment3,10015-9-197317-9-19733,10015-12-197314-12-197332,32515-3-197414-3-197438,525 he filed his return of income on 4-10-1974 declaring an income of rs. ..... the previous year commenced from 1-7-1973 and ended on 31-3-1974. ..... briefly stated the facts giving rise to the present reference are as follows:the reference relates to the assessment year 1974-75. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1951All652; [1951]19ITR342(All)
..... interest in such cases should be deemed to have been received in british india, & it is clearly liable to tax under section 4 (1) (a), income-tax act ..... a reference under section 66 (1), income-tax act by the income-tax appellate tribunal, allahabad ..... assessment year 1944-45 could be legally deemed to have been received in british india & were liable to tax under section 4 (1), income-tax act? ..... ' section 10 (2) (xv), income tax act, is as follows :'such profits or gains shall be computed after making the following allowances, namely :(xv) any expenditure (not being in the nature of capital expenditure or personal expenses of the assessee) laid out or expanded wholly ..... this contention was repelled & the learned chief justice said:'the legislature has in the income-tax act drawn a clear distinction between accrual or arising of income & the receipt of income, & i see no reason why when accounts are kept on mercantile basis it must be held that income does not merely accrue ..... where their lordships held that a person resident in british india carrying on business in british india & controlling transactions abroad is not liable to tax on the profits of such transactions unless such profits can be said to be accruing, arising or received in british india, or deemed to ..... in fact, the assessee, in order to claim this deduction as expenditure, had not only to prove that the expense was incidental to the business but to show that the expenses were laid out or expanded wholly & exclusively for the .....
Tag this Judgment!Court : Allahabad
Reported in : [1975]98ITR153(All)
..... a short but interesting question of law arises in this reference under section 66(1) of the indian income-tax act, 1922.2. ..... 1 is in the affirmative, then, whether on the facts and circumstances of the case, the assessee-company was entitled to depreciation under section 10(2)(vi) and development rebate under section 10(2)(vib) of the indian income-tax act, 1922, on the expenses of rs. ..... and (b) in the case of assets acquired before the previous year the actual cost to the assessee less all depreciation actually allowed to him under this act, or any act repealed thereby, or under executive orders issued when the indian income-tax act, 1886, was in force.' 7. ..... . the supreme court held that the expenditure was of a capital nature which did not bring into existence any new tangible asset and as such it was neither allowable as revenue expenditure nor was it eligible for depreciation allowance ..... , 1936, says at page 282:' if interest has been paid on debentures or loans raised to meet capital expenditure and such capital expenditure is not revenue earning, as for example the construction of a new railway system, which work may be spread over a considerable period of time before the system is opened to traffic then the interest so paid could, in respect of the period in question be charged to capital, i.e. .....
Tag this Judgment!Court : Allahabad
Reported in : [1947]15ITR137(All)
..... it may not possibly be 'revenue'.for these reasons i have come to conclusions that on this part of the case the income-tax tribunal was right and in my judgment the first of the two questions before us should be answered by saying that the sum realised by the assessee on account of interest on arrears of rent of agricultural land was 'agricultural income' within the meaning of section 2 (1) of the income-tax act and as such exempt from tax under section 4 (3) (viii) of the said act.i now come to second ..... judges took the rather wider view, which with great respect i am inclined to think is the right view, that interest in a case like this falls to be considered not as rent but as revenue derived from the land on the ground that it has its source in the agricultural tenancy itself inasmuch as but for that no question could ever have arisen of it being paid.i see no reason to put a limited meaning on the word 'derived' appearing in section 2 (1) (a) of the income-tax act. ..... justice manohar lall of the patna high court, considering the question in relation to the same section of the indian income-tax act as i am now dealing with, took the view that interest on arrears of mustajiri rent received in default of punctual payment, formed part of the agricultural income of the assessee. ..... no hard and fast rule can be laid down in order to determine what is the character of a particular payment. .....
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