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income-tax Officer Vs. Branch Manager, Central Bank of

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (2002)256ITR26(Pat.)

..... enquiry conducted at the bank information was gathered under section 133(6) of the income-tax act for violation of section 195 of the income-tax act relating to a nepali/non-resident. notice under section 142(1) was issued but no return was filed.3. instead a copy of the ledger account of the depositor's account in the bank ..... 1. the department is in appeal against the order of the learned commissioner of income-tax (appeals) who held that unexplained deposits in the name of nepali citizens in the indian banks cannot be taxed under section 69 of the income-tax act, 1961. the main reason asserted by the department is that it is not proved ..... . there is no other finding of fact that the money actually belongs to the residents of india and there is no presumption that it does not belong to the nepali residents in whose names the deposits stand. furthermore, there was no violation of nepali law which, if it may be in the fitness of things, be brought to the notice of the .....

income-tax Officer Vs. Branch Manager, State Bank of

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (2002)255ITR126(Pat.)

..... article 21 of the dtaa than to the provisions of section 69 of the act. it was decided by us that the deposit in the indian bank made by the nepali citizens cannot be taxed in india. this decision vitiates the assessments made in india concerning the deposits made in indian banks by ..... nepali citizens.4. when the assessments under the provisions of section 69 of the act does not stand, the order imposing the penalty under section 271(1)(c) of the act .....

Virinder Bhatia and ors. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... report to the assessee.8. he further submitted that the ao was not justified in making arbitrary addition as undisclosed income from garments export business in nepal by treating all nepali parties to be benami on mere suspicion and surmises.9. he further submitted that the ao had not properly considered all the explanations and evidences furnished in the course of .....

Nusli N. Wadia Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)46ITD31(Mum.)

..... assessee is only a director and not a permanent chairman of the company.21. there is no prohibition under the nepalese company law on investment made in india by any nepali company and this stands proved by page 309 of the assessee's paper book, which is again a certificate from the above-mentioned chartered accountant, n. krishnaswamy and co.22 .....

Virinder Bhatia Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... to the assessee.8. he further submitted that the assessing officer was not justified in making arbitrary addition as undisclosed income from garments export business in nepal by treating all nepali parties to be benami on mere suspicion and surmises.9. he further submitted that the assessing officer had not properly considered all the explanations and evidences furnished in the course .....

Society for Integrated Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2004)90ITD493(Hyd.)

..... , signed by mr. vardhan, it was stated that mr. vardhan met the representative of charity international, nepal, an n.g.o. which was contemplating starting a medical college to help nepalies and that during the discussion it was decided that sidur would come forward to render financial aid to facilitate setting up of the college and repayment would be made once ..... the college was established. that in this context he gave rs. 32 lakhs to k.m.c. this explanation is indeed specious. helping set-up a medical college for nepalies is hardly a charitable purpose which was further not put across to the executive committee of sidur. in his deposition mr. vardhan admitted that it was not as if sidur .....

Noble Institute (Education) Pvt. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

1. This appeal of the assessee is directed against order dt. 9th Dec., 1994 passed by CIT(A)-III, Ahmedabad, deciding the appeal of the assessee relating to asst. yr. 1990-91.2. The first ground of this appeal of the assessee relates to addition of Rs. 1,58,568 on account of being uncollected fees by the assessee company from the students, made by Assessing Officer (hereinafter referred to as the AO) and confirmed by the CIT(A) in the following facts and circumstances.3. The assessee, Noble Institute Private Ltd. is like many other coaching institutes being run in the Ahmedabad City and other towns for imparting coaching to students after their school times. The assessee company is running coaching classes for students of class X to XII for different subjects relating to Science, Mathematics etc. It appears from the record that the assessee was running as many as 5 branches in the previous year concerning to asst. yr. 1990-91 in which as stated by the learned counsel for assessee, the...

Noble Institute (Education) (P.) Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1996)58ITD251(Ahd.)

Per Shri Phool Singh, Judicial Member - This appeal of the assessee is directed against order dated 9-12-1994 passed by CIT (A)-III, Ahmedabad, deciding the appeal of the assessee relating to assessment year 1990-91.2. The first ground of this appeal of the assessee related to addition of Rs. 1,58,568 on account of being uncollected fees by the assessee company from the students, made by Assessing Officer (hereinafter referred to as the Assessing Officer) and confirmed by the CIT (A) in the following facts and circumstances.3. The assessee, Noble Institute Private Ltd. is like many other coaching institutes being run in the Ahmedabad City and other towns for imparting coaching to students after their school times. The assessee company is running coaching classes for students of class X to XII for different subjects relating to Science, Mathematics etc. It appears from the record that the assessee was running as many as 5 branches in the previous year concerning to assessment year 1990...

Morarjee Goculdas Spg. and Wvg. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)98TTJ(Mum.)201

1. This appeal has been filed by the assessee on 28th Aug., 1997 against the order of the learned Dy. CIT, Special Range-34, Mumbai, in the case of the assessee under Section 158BC of the IT Act, 1961, for the block period from asst. yrs. 1987-88 to 1996-97 and for the incomplete asst. yr. 1997-98 from 1st April, 1996 to 18th July, 1996.2. The facts of the case leading to this appeal, briefly, are that there was a search under Section 132 conducted at the premises of the assessee-company on 19th July, 1996. In the impugned order it is stated that this search was finally concluded on 22nd Sept., 1996. This search was a part of an all India investigation in respect of lease transactions entered into by a large number of assessees resulting into claim of 100 per cent depreciation allowance on leased assets. A notice under Section 158BC was issued on 22nd Oct., 1996. In response, the assessee-company filed on 21st Jan., 1997, the return of income under Section 158BC for the block period d...

The Morarjee Goculdas Spg. and Vs. Dy. Commissioner of Income Tax,

Court : Income Tax Appellate Tribunal ITAT Mumbai

1. The above appeal is filed by the assessee having been aggrieved by the assessment order dated 31.7.1997 passed by the Assessing Officer.Since there is a difference of opinion between the Members constituting the Bench, the following questions were referred to the Hon'ble III^rd Member:- 1. Whether on the facts and in the circumstances of the case and in law, the learned Assessing Officer had jurisdiction and justification in including the depreciation allowance in the computation of undisclosed income in the order under Section 158 BC of the Income Tax Act? 2. If the answer to question No. 1 is in the affirmative, whether grounds of appeal nos. II to IV raised by the assessee are required to be remitted to the Division Bench, for adjudication thereupon? The Hon'ble III^rd Member, after hearing the same, has passed the order dated 30.9.2004 agreeing with the Hon'ble Accountant Member. Hence, as per the majority opinion, the appeal of the assessee is hereby allowed.1. On difference o...