Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2002)256ITR26(Pat.)
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 that the source of such deposit in the bank is actually in Nepal and not in India.2. The learned Departmental Representative submitted that on the basis of the 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 was filed. The learned Assessing Officer considered the deposit as income by the non-resident in India and, therefore, taxed it as unexplained investment under Section 69 together with interest ea...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2002)255ITR126(Pat.)
1. Shri Sohanlal Agarwal and Smt. Sharmila Devi of Dharan, Nepal, opened a joint account in the State Bank of India, Jogbani Branch, Jogbani, and deposited a sum of Rs. 1,25,000 in the said account during the financial year 1992-93 relevant to the assessment year 1993-94. The branch manager of the said bank passed on this information to the Assessing Officer when called upon to do so, under the provisions of Sub-section (6) of Section 133 of the Income-tax Act, 1961 (in short the "Act"). Form No. QA22(1) was not filed by the depositors at the time of making the deposit in the aforesaid branch as contemplated by vol. I of the Foreign Exchange Control Manual, 1987. The Assessing Officer formed an opinion that the deposit was made out of earnings on Indian soil and assessed the said income under Section 144 of the said Act, treating the branch manager as an agent of the depositors under the provisions of Sub-section (1) of Section 163 of the said Act.Hence, furnishing of information, in ...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1997)63ITD87(Pat.)
1. The assessee has three grievances in this appeal which are as under :- 1. Confirmation of a sum of Rs. 87,000 as income from undisclosed sources under section 68 of the Act. 2. Retention of a sum of Rs. 15,000 as against Rs. 20,800 made by the Assessing Officer (A.O.) on account of low withdrawal for household expenses.2. As regards the third grievance it was brought to the notice of the assessee's counsel that there is no decision whatsoever by the Appellate Commissioner (A/C) and, therefore, this ground does not arise from out of the impugned order of the A/C. However, after some discussion it was decided that instead of sending the matter back to the A/C for rendering a decision on the ground taken in the first appeal regarding levy of interest under section 217, we direct the Assessing Officer to give a reasonable opportunity of being heard to the assessee before charging interest under section 217. The third ground is disposed off accordingly. The assessee maintains personal a...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1993)45ITD63(Pat.)
JUDGMENT ASSESSMENT--Non-compliance with requirement of s. 143(2).Where there is non-compliance of requirement of section 143(2) best judgment assessment is justified even though no fresh notice is given under section 142(1) and 143(2) after filing of return.Mere technical lapse, if it is assumed to be a lapse, of not giving a fresh notice and asking the assessee to produce the books of account, could not be treated as lack of notice subsequent to the filing of the returns of income. The assessing officer has made the assessment ex-parte under section 144 only in the absence of supporting books of account and documents. Therefore, certainly there was non-compliance even with the requirement of section 143(2) requiring the assessee to produce the relevant books of account in support of the returns of income. Even for such non-compliance the assessment could be made under section 144.Charitable trust--EXEMPTION UNDER S. 11--Higher income determined in assessments.Assessee was entitled to...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1995)52ITD1(Pat.)
1. This is an appeal filed by the assessee. The main dispute relates to the order of the CIT(A) confirming disallowance of unpaid sales tax of Rs. 54,319 under Section 43B of the Income-tax Act, 1961.2. The facts, in brief, are that Bihar sales-tax amounting to Rs. 47,159 and Central sales-tax amounting to Rs. 7,260 remained unpaid on the last date of the previous year, i.e., 31-12-1985. Total amounts to Rs. 54,319. The due date for filing the return of income under Section 139(1) of the Income-tax Act, 1961 was 30-6-1986 and it is an admitted position that the above outstanding amounts were paid after 30-6-1986.The assessee is, therefore, not saved by the first proviso below Section 43B of the Act, even if the first proviso is treated as clarificatory and operative from 1-4-1984, as held by the Patna High Court in the case of Jamshedpur Motor Accessories Stores v. Union of India [1991] 189 ITR 70. The amount was accordingly disallowed by the Assessing Officer and the disallowance was...
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