Court : Income Tax Appellate Tribunal ITAT Hyderabad
Decided on : Dec-27-2002
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 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Mar-13-2002
Reported in : (2002)81ITD160(Delhi)
1. The appeal has been filed by the assessee against the order of the CIT(A), dt 29th Dec., 1998, pertaining to asst. yr. 1994-95. The first ground of appeal relates to deduction under Section 80-O of the Act.2. The assessee-company provides professional services in the field of medicines. It is headed by Dr. N.P.S. Chawla and Dr. (Miss) Devjit Kinberlay Chawla, as directors. The assessee-company got the necessary expertise in the matter of providing emergency medical assistance to any person anywhere in India on call. It has on its own panel several qualified doctors who always remain on call, provide necessary medical services wherever required and give professional information to foreign insurers. It is patronised by almost all the insurance companies in the world and some important select embassies of foreign countries, though no formal agreement exist in some of the cases. After providing required treatment they are also provided qualified doctor to escort them back to their dest...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Vizag
Decided on : Apr-11-2002
Reported in : (2003)80TTJVisakha658
1. This batch of appeals preferred by the assessee, is directed against different orders of the CIT(A) for the asst. yrs. 1981-82 to 1986-87.2. The facts of the case in brief are that the assessee is an evangelist and has been carrying on the vocation of preaching Christianity on behalf of the Church of Christ abroad i.e., United States of America and Canada, and has been receiving money from them with an intention for propagation of Christianity in India. The nature of service rendered by the assessee is to execute the instruction of foreign churches in spending the money received from abroad on various activities in India and rendering monthly statements of accounts to the foreign employer. For such service, the assessee has been paid separate remuneration. The assessee was accordingly filing his returns of income in his individual status since the asst. yr. 1972-73 onwards offering his remuneration under the head "Income from salary" and being assessed accordingly for all the years...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Oct-30-2002
Reported in : (2004)268ITR109(Coch.)
1. These appeals are by the assessee and pertain to the assessment years 1990-91 and 1991-92. They are directed against the order dated 13-11-2000 of the CIT (Appeals)-II, Kochi, confirming he penalty of Rs. 3,68,800/- and Rs. 3,14,800/- respectively for the assessment years 1990-91 and 1991-92, levied under Section 272A(2)(c) of the Income-tax Act, 1961.2. The facts of the case in brief are that the assessee filed returns for the assessment years 1990-91 & 1991-92 disclosing a loss of Rs. 24,42,200/- and Rs. 24,68,020/- respectively. Returns were processed under Section 143(1)(a) of the Act on 21-03-1991 and 23-09-1991 respectively. Subsequently the assessments were completed under Section 143(3) of the Act. The assessee produced a feature film named 'Oru Sayahnathinte Swapnom' and was released on 28-9-1989 and another feature film named 'Arangu' which was released on 22-3-1991. The assessing officer was of the view that the assessee was required to file a statement in form No. 5...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Oct-30-2002
Reported in : (2004)90ITD248(Coch.)
These appeals are by the assessee and pertain to the assessment years 1990-91 and 1991-92. They are directed against the order dated 13-11-2000 of the Commissioner (Appeals)-II, Kochi, confirming the penalty of Rs. 3,68,800 and Rs. 3,14,800 respectively for the assessment years 1990-91 and 1991-92, levied under section 272A(2)(c) of the Income Tax Act, 1961.The facts of the case in brief are that the assessee filed returns for the assessment years 1990-91 & 1991-92 disclosing a loss of Rs. 24,42,200 and Rs. 24,68,020 respectively. Returns were processed under section 143(1)(a) of the Act on 21-3-1991 and 23-9-1991 respectively.Subsequently the assessments were completed under section 143(3) of the Act. The assessee produced a feature film named 'Oru Sayahnathinte Swapnom' and was released on 28-9-1989 and another feature film named 'Arangu' which was released on 22-3-1991. The assessing officer was of the view that the assessee was required to file a statement in Form No.52A, cont...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT
Decided on : Nov-12-2002
Reported in : (2003)87ITD630(Bang.)
1. This appeal by the assessee is arising out of the order of Commissioner of Income Tax (Appeals) - X, Hubli dated 31-3-1997, pertaining to assessment year 1995-96.2. The assessee though has raised as many as 17 grounds, yet the relevant controversy is challenged by way of raising following grounds: i. The learned CIT(A) erred in confirming the addition of Rs. 1107.36 lakhs without allowing any expenditure incurred by the appellant in earning such income and thereby erred in not computing the total income as per the provisions of the IT Act, 1961. ii. The authorities below erred in computing the entire receipts under the head 'income from other sources' and further erred in not allowing the expenditure incurred by the appellant. iii. The authorities below erred in not computing the receipts under the head 'income from business or profession'. iv. The authorities below ought to have allowed the expenditure in the form of payment of interest to banks and on debenture and other expendit...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : May-24-2002
Reported in : (2003)86ITD556(Mum.)
1. These two appeals filed by Revenue related to asst. yr. 1996-97.Appeal in ITA No. 1703/Mum/2000 is in relation to assessment order under Section 143(3). Appeal in ITA No. 1705/Mum/2000 is in relation to proceedings under Section 143(1)(a). We shall take up Revenue's appeal in ITA No. 1705/Mum/2000 relating to proceedings under Section 143(1)(a) first. Facts of the case in this behalf are that the assessee filed return of income declaring Nil income on 26th Nov., 1996. The AO made an intimation under Section 143(1)(a) of the Act on 31st Oct., 1997, in which dry dock expenses claimed by the assessee were disallowed to the extent of Rs. 4, 53,61.339 by way of adjustment. On receipt of this intimation the assessee filed appeal before the learned CIT(A)-XVI, Mumbai, on 20th Feb., 1998, and also filed an application under Section 154 before the AO. Thereafter the AO passed an order under Section 154 on 30th March, 1998, whereby the addition of Rs. 4,53,61,339 made by way of adjustment of...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Aug-09-2002
Reported in : (2002)258ITR106(Mum.)
1. This appeal has been filed by the Department against the order dated August 4, 1994, of the learned Commissioner of Income-tax (Appeals)-XII, Bombay, for the assessment year 1991-92. "1. On the facts and in the circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) erred in holding that expenditure of Rs. 2.80 lakhs incurred on tele film is allowable as revenue expenditure disregarding the fact that asset acquired with enduring benefit was to be used for the purpose of advertisement of business. He also should have followed the ratio of the decision laid down by the Bombay High Court in the case of CIT v. Patel International Film Ltd. [1976] 102 ITR 219. 2. On the facts and in the circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) erred in deleting addition amounting to Rs. 28,117 disregarding the fact that the object of expenditure incurred on account of stamp duty related to acquisition of asset and is assessable...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jodhpur
Decided on : Sep-30-2002
Reported in : (2003)78TTJ(Jodh.)567
1. This is an appeal by the Revenue against the order dt. 28th June, 1996, of the CIT(A), Ajmer, for the asst. yr. 1993-94.2. The Revenue agitated on the ground that the CIT(A), Ajmer, erred in deleting the trading addition of Rs. 13,05,606 made by the AO by applying net profit rate of 2.67 per cent against the net profit of 0.74 per cent declared by the assessee.3. The brief facts of the case are that the main dispute in this appeal relates to the addition of Rs. 13,05,606 rejecting the book results.The company-respondent is a manufacturer of polyester suitings. During the year under consideration, on total sales of Rs. 6,28,174 net profit of Rs. 5,00,066, giving net profit rate of 0.74 per cent was declared.The company-respondent was asked to file the detail of purchase and sale of quantity, quality and value. As such details were not filed and the AO felt that book results cannot be verified, he gathered information from the Central excise department about the production, sale and ...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Nov-01-2002
Reported in : (2003)85ITD478(Delhi)
1. These two appeals--one by the assessee and the other by the Revenue emanate from the order passed by the CIT(A) on 4th Dec., 2000, in relation to asst. yr. 1997-98. As both the appeals are emerging out of the same order, we are, therefore, proceeding to dispose of both these appeals by a consolidated order for the sake of convenience.Briefly stated the facts of the case, as collected from the orders of the authorities below, statement of facts and other material before us, are that the assessee-company, incorporated in and a resident of Hongkong was deriving lease income from lease of transponder capacity.It was engaged in operating telecommunication satellites located in US stationary orbit of 36,000 kms above equator in accordance with the regulatory requirements of the International Telecommunication Union under the United Nations. In the year under consideration it operated two satellites available at its disposal, namely, Asiasat-I, taken by the assessee on lease located at 10...
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