Judgment Search Results Home > Cases Phrase: sashastra seema bal act 2007 section 6 enrolment Court: income tax appellate tribunal itat delhi Year: 2008 Page 1 of about 28 results (0.280 seconds)

Smt. Krishna Verma and Subhash Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113ITD655(Delhi)

..... the panchnamas, the signatures of the panchas and the assessees therein, the orders of restraint, their revocation, etc., all of which show that the official acts were regularly performed by the departmental authorities. in the light of this material, the averments in the affidavit cannot be relied upon and it cannot be said ..... for the assessee that the affidavit filed by the assessees remained uncontroverted. besides the affidavit, which is insufficient to displace the presumption flowing from the acts regularly performed by the authorised officers conducting the search, there is no other evidence to show that the search was actually completed on 12th march, 1999 ..... drawer and seized the files. therefore, the order passed under section 158bc on 30th april, 2001 was barred by limitation provided in section 158be of the act and hence requires to be annulled. further, in continuation to his arguments, the learned authorised representative submitted that the affidavit of the assessee dt. 24th .....

Shri Manoj Aggarwal, Bemco Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... regular assessment including re-opening a completed assessment but he cannot drag these items into the block assessment proceeding envisaged under chapter xiv-b of the act. thus, a block assessment proceeding is distinct and different from the regular assessment proceeding and the chapter with which we are concerned deals exclusively ..... if the seized material and evidence available indicated that the undisclosed income belongs to some person other than the person searched, section 158bd of the act provides the manner of assessing such undisclosed income of the other person in the following words: where the assessing officer is satisfied that any undisclosed income ..... it cannot be based on assumptions and surmises or guesswork. the learned departmental representative argued that the term satisfaction appears in various parts of the act itself and that even in sections 147/148 dealing with cases of reassessment for assessing income which had escaped assessment, the only requirement is that .....

Dcit, Spl. Range-i Vs. Jindal Photo Films Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... cit v. balkrishna malhotra 81 itr 759, the supreme court held that the interpretation of a provision in a taxing statute rendered years back and accepted and acted upon by the department should not be easily departed from. the following observations at page 762 of the judgment are important: interpretation of a provision in a ..... that the machineries purchased by the appellant relating to manufacturing of color roll films where machineries covered by the provision of eleventh schedule of the i.t. act. however, after detailed discussion i have held that the appellant is not entitled to investment allowance during the current year and appellant shall be free to claim ..... would be the photo films while adjudicating upon the exemption available under the section, we cannot deal with each and every entry in schedule xi of the act by sitting down to decide what to our minds is fulfilling the priority needs in various vital fields like medicine, communication and education. till the entry stands .....

income Tax Officer Vs. Ekta Promoters (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)117TTJ(Delhi)289

..... used the expression 'may' thereby giving discretion to the authorities concerned to either reduce or waive the interest. the change brought about by the amending act (finance act, 1987) is clear indication of the fact that the intention of the legislature was to make the collection of statutory interest mandatory.19. concluding his ..... learned authorised representative pleaded that learned cit(a) has rightly held that no interest was chargeable in the case of the assessee under section 234d of the act.arguments advanced by shri l.v. srinivasan, representing areva t&d india ltd., one of the interveners 34. shri l.v. srinivasan, learned authorised representative ..... v. cit and such rule is applicable to the charging section and other substantive provisions and does not apply to machinery or procedural provisions of a taxing act.57. the provisions relating to machinery or procedure are generally retrospective and apply to pending proceedings. for that purpose, it is necessary to examine the nature .....

Aquarius Travels (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)111ITD53(Delhi)

..... , expenditure incurred to earn exempt income was allowable. instances of reopening of old assessments, which had attained finality, after insertion of section 14a in the act, have come to the notice of the board. reopening of past completed assessments, having attained finality, on the basis of newly inserted provisions of section ..... very specific. only reassessment under section 147 and only amendments/rectification of the assessments already made has been debarred. there are several authorities under the it act who derive their powers from various other statutory provisions.for example, the cit has power under section 263 to modify or enhance the assessment made by ..... and as because it was made operative retrospectively; as such it was applied. therefore, it is necessary to examine firstly whether section 14a of the act can be applied in the facts and circumstances of the present case. subject to its applicability, the question apropos to its retrospective applicability would be pertinent .....

Zauri Leasing and Finance Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)115TTJ(Delhi)721

..... we are in respectful agreement. our learned brothers had pointedly observed that the genuineness of the claim predicated on section 36(1)(vii) of the it act was not in doubt. where the loan transaction is itself shrouded in uncertainty other provisions of the statute would immediately come into play. our learned brothers ..... that the same had become bad.the assessee pointed out that cheques issued by parties had bounced.therefore, proceedings under section 138 of negotiable instruments act were instituted against the debtors but nothing was recovered from the debtors till date. the assessee also filed separately explanation for write off of bad ..... , which itself proved that the accounts written off were irrecoverable; (iv) criminal proceedings were instituted against the parties under section 138 of the negotiable instruments act as distinguished from civil proceedings for the recovery of debts but the parties have failed to pay the amount; and (v) the foregoing circumstances clearly proved .....

Assistant Commissioner of Income Vs. Mayur Recreational and

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113ITD181(Delhi)

..... incurred for construction/modification/additions carried to the said property, the rent was required to be worked out afresh as per the relevant provisions of the delhi rent control act, 1958.accordingly, he added the cost of additions and alterations made to this properly in asst. yr. 1988-89 amounting to rs. 9,63,413 to ..... to its holding company was not fair and reasonable. the standard rent determined in 1971 could not be fair and proper basis for determining the alv under the it act especially when concerned authorities had failed to revise the standard rent even after substantial additions and alterations to the properties. (iii) the assessee could not be given ..... on determination of such alv of the property. according to him, no valuation of the property, however, had been done by the controller under the rent control act for the purpose of determining the standard rent after the improvement was effected to the premises. he held that the standard rent determined in respect of the said .....

Rajat Lal, Managing Director, Sir Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... notice was served on assessee on 31^st march, 2004.4. the assessee did not make payment of tax as per demand notice issued under section 156 of income tax act, 1961 (act) which was required to be paid by 30^th april, 2000. however, against that assessment, the assessee filed an appeal before the cit (a) on 19^th ..... and validation of certain proceedings.- (1) where any notice of demand in respect of any government dues is served upon an assessee by a taxing authority under any scheduled act, and any appeal or other proceedings is filed or taken in respect of such government dues, then,- (a) where such government dues are enhanced in such appeal or ..... is misplaced as the said circular is not binding on the appellate authorities it was contended that circular of cbdt cannot overwrite, modify or amend the provisions of the act. it was contended that levy of interest under section 220(2) in a unilateral manner without issuing notice under section 154(3) was not tenable in law. rejecting .....

Capital Power Systems Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)115TTJ(Delhi)531

..... redesignating the existing dy. cit and jt. director of it respectively. the above changes in designation made it necessary to amend the various sections of the it act so that the statutory powers continue to be exercised by the substituted authorities as a result of re-designation.the following substitution of it authorities has been globally ..... made in the it act: asstt. director asstt. director or dy. director dy. cit jt. cit 3. it would, therefore, be evident that by reason of the said circular letter ..... is seen that notification does not mention the designation of jt.director of it (inv.) as an authority specified for this purpose under section 132(1) of the act. therefore, the decision of hon'ble delhi high court, being the jurisdictional high court, to the effect that unless an amendment is carried out, the addl. .....

Trilochan Singh Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)116TTJ(Delhi)149

..... taken as unexplained. therefore, the total amount of rs. 57,000 as discussed in paras 4(i) to 4(iii) is added as unexplained investment under section 69 of the it act to the total income of assessee. penalty proceedings under section 271(l)(c) are initiated for furnishing inaccurate particulars of income.3. the assessee impugned above addition in appeal before ..... the absence of any evidence produced by them regarding their capability and so why the amount may not be added in his income as unexplained investment under section 69 of it act. the assessee in his reply dt. 20th aug., 2004 has stated that loans taken are genuine, no evidence regarding creditworthiness and genuineness of loans raised has been produced by the .....