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Deputy Commissioner of Income Tax Vs. P.U.R. Polyurethene Products (P)

Court : Income Tax Appellate Tribunal ITAT Delhi

1. These two appeals filed both by the Revenue as well by the assessee are consolidated and disposed of by a single order. Appeals containing common issues relate to asst. yr. 1989-90.2. At the outset it may be pointed out that none appeared on behalf of the assessee despite notice having been sent through registered post.On perusal of the order sheet we further find that the appeals have been fixed right from the year 1996 onwards. Considering the several opportunities allowed, we proceed to dispose of appeals ex parts qua assessee but on merits. The submissions of the learned Departmental Representative and the paper book submitted by the assessee are taken into consideration while disposing of the appeals.3. Taking up the Revenue's appeal in ITA No. 599/Del/1992 first, we find that the first contention raised relates to disallowance of loss of Rs. 30,000 claimed by the assessee. The facts in brief are that the assessee-company who is having its factory at Okhla Industrial Area Phas...

Rohit Prakash Goyal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

1. These are three appeals by the assessee against common order of the CIT(A)-XII, New Delhi pertaining to asst. yrs. 1993-94, 1994-95 and 1995-96.2. Since the issues involved in all these appeals are common, and the issues have been disposed of by the CIT(A) by a consolidated order, therefore, for the sake of convenience, these appeals are also disposed of by this common order.3. The assessee has raised 14 grounds challenging validity of the reopening of assessments under s. 148 of the IT Act, 1961, for these three years and also the view of the CIT(A) that the sales transaction made to his HUF, is sham transaction and thereby confirming the recasting of the P&L a/c and determining the total income at Rs. 12,92,080, Rs. 13,52,290 and Rs. 29,64,200 for the asst. yrs. 1993-94, 1994-95 and 1995-96 vide assessment order dt. 29th March, 1996, instead of income declared and accepted by intimation under s. 143(1)(a) at Rs. 5,52,80, Rs. 2,34,290 and Rs. 2,30,950 for the asst. yrs. 1993-9...

Assistant Commissioner of Wealth Vs. Kailash Enterprises (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

1. This appeal filed by the Revenue is against the order of the CWT(A), dt. 4th March, 1994, for the asst. yr. 1986-87, for which the valuation date was 31st March, 1986.2. The assessee is a private limited company. The return of wealth was originally filed on 25th March, 1988, in response to the notice under s. 17 served on 15th Jan., 1988, declaring net wealth of Rs. 61,85,100.The return was subsequently revised on 31st July, 1988, showing net wealth at Rs. 6,32,788. Another revised return was filed on 12th Oct., 1988, declaring net wealth of Rs. 6,88,100. The assessment order was passed on 27th March, 1990, under s. 16(3) wherein the net wealth was determined at Rs. 7,01,000. In the said assessment order dt. 27th March, 1990, the following Office Note was left : "Office Note : The valuation of property at No. 1, Community Centre, Zamrudpur, New Delhi, is pending for decision by the DVO II, IT Deptt. Rohit House, New Delhi, vide V. O.'s letter No. DVO/II/IT/Val. /WT/88-89/280 dt. 28...

Sedco Forex International Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1996)58ITD177(Delhi)

1. These appeals filed by different assessees are consolidated as facts and issues are common. For the sake of convenience they are disposed of by a single order. While discussing the facts however the reference would be made to a particular assessee Mr. J. Sillard and the decision as taken in the aforesaid case would be applicable to all the cases, the facts of which are identical with those of Mr. J. Sillard.2. The assessee is a non-resident individual employed with Sedco Forex International Drilling Inc. (hereinafter called SFID). The latter is a company registered in Liberia. It entered into a contract with Oil & Natural Gas Commission (hereinafter called ONGC) for drilling operations in offshore areas of India within the exclusive economic zone. As per the terms of the agreement with the Sedco Forex International Drilling Inc. the assessee was assigned to work in India in a so-called "Computer basis". The agreement starting from November, 1985, was for two years. As per sched...

Bharat Hotels Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1995)53ITD450(Delhi)

1. Appellant is a company and its appeal for assessment year 1987-88, for which the previous year ended on 31-12-1986, is directed against the order dated 7-9-1994 of CIT (Appeals)-XV, New Delhi. The dispute is relating to assessment of Rs. 10.28 crores assessed as income of the assessee out of the receipts shown as deposits from the sub-licensees.2. Assessee had filed the return of income on 13-4-1988 declaring income of Rs. 36,350. The assessment was originally made on 30-3-1990 at an income of Rs. 8,65,57,166. A sum of Rs. 8,63,37,963 was included in the assessed income as profits from transferring the right to use space in the shopping-cum-commercial building known as World Trade Centre (hereinafter called as WTC). The Assessing Officer held that the so-called shop deposits were the revenue receipts of the assessee for the year under appeal as WTC was completed during the year and the space was allotted to the users. For computing the income of the assessee in respect of this sour...

Shri Ram Hari Ram Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)48ITD175(Delhi)

1. The assessee, a firm, carrying on the business of jewellery has filed this appeal and has raised the issue of liability of loss of Rs. 36 lakhs worth of jewellery which were stolen from the shop and some minor issues like disallowance of car expenses for personal usage and non-allowing of deduction for donation.2. Shri C. S. Aggarwal, learned counsel for the assessee, submitted that the shop of the assessee which is located in the busy business area of Chandni Chowk at Dariba Kalan, was broken into by some miscreants on the night of February 1, 1981, which was brought to the notice of the partners of the firm on the next morning when some passers-by saw the locks of the shop broken and the shutters of the shop slightly open. The police were called and an inventory of the stocks was also taken. The inventory of the stock so taken indicated that gold ornaments weighing 22,440.400 gms valued at Rs. 36 lakhs were found missing. The assessee had lodged their report immediately on arrivi...

Assistant Commissioner of Vs. Sri Shankar Saran Kothiwal (Huf)

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)49ITD219(Delhi)

1. The various assessees who are partners in a firm M/s Nand Lal Cold Storage & General Mills have filed these appeals for the various assessment years and the Department have also filed cross appeals for the various assessment years against each of those assessees and the common issue that is involved in these appeals is related to the value that is to be adopted in regard to land & building housing and the cold storage of the firm. Therefore, these appeals have been grouped together and are being disposed of by this composite order.2. Shri K.C. Srivastava appearing for the various assessees submitted that the approved valuer's report was obtained for the valuation dates relevant for assessment years 1980, 1981, 1982 and 1983 respectively.The approved valuer has noted that the cold storage has no open land and that if the properties were to be demolished then the Moradabad Development Authority had placed restrictions on the sale of the land.He had also observed that the prop...

Deepak Singh and Family (Huf) Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)48ITD465(Delhi)

1. These are two appeals by the assessee, one against levy of penalty under Section 271(1)(c) and another against levy of penalty under Section 273(2)(a) of the Income-tax Act, 1961. Since facts involved in both these appeals are common, therefore, for the sake of convenience, these appeals are being disposed of by this consolidated order. First, we shall take up the appeal relating to penalty under Section 271(1)(c).2. The assessee is a HUF, Shri Deepak Singh is karta of HUF. The assessee derives income from business i.e., 67% share in a partnership firm known as Varun Enterprises and income from other sources. The assessee filed original return on 30th June, 1983 declaring net income of Rs. 4,28,190 after taking into consideration deduction under Section 35CCA at Rs. 5,00,000 claimed to have been made to Ramakrishna Vivekananda Mission, Gramsewa Parishad, as per Note 4 appended to the statement of assessable income of the assessee. Later on, the assessee revised return of income on ...

Marwah and Co. Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)46ITD42(Delhi)

1. These are appeals filed by an Individual, a firm, in which, the individual is a partner, which appeals are interconnected and hence the appeals, have been grouped together and disposed of by this composite order. The inter-connected issue, is, whether, the organizing activity of the lottery for Indian Naval Benevolent Fund, was of the individual or of the firm and, the consequential issue is, in whose hands, the income from running of this organizing of the lottery, is assessable.The contention of the assessee, is that, the organizing of the lottery, was of the firm, while, the revenue, had treated, the activity, as of the individual. Since, the revenue, had treated the income, as of the individual, it had refused registration to the firm. In view of the issues, being inter-woven, we proceed to deal with the issues, on that basis.2. The facts, in brief are that, Indian Naval Benevolent Fund (hereinafter referred to as INBA), functioning from the Naval Headquarters, New Delhi, throu...

N.R. Dongre Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1992)40ITD574(Delhi)

1. In this appeal filed by the assessee relating to the assessment year 1983 -84, the sole question is whether on the facts and in the circumstances of the case and in law the learned Commissioner of Income-tax (Appeals) was right in upholding the disallowance of deduction for Rs. 1,98,000 under Section 80GGA of the Income-tax Act in respect of the contribution made by the assessee to M/s Ramakrishna Vivekanand Mission.2. The assessee a Chief Executive of Usha International, a public limited company, of which he was neither a Director nor a shareholder made a donation of Rs. 2 lacs to Ramakrishna Vivekanand Mission by way of two cheques of Rs. 1 lac each drawn on Bank of Baroda on 22-3-1983.These cheques were given to one Mr. Vipin Mehra, an authorised agent of Ramakrishna Vivekanand Mission to collect donations on behalf of the said Mission. The said Vipin Mehra opened a bank account in the name of the Mission without its authority and encashed these cheques in Delhi on 25-3-1983, pa...