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Laxmi Narayan Jangid Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)93TTJ(Jodh.)37

..... 28,805 can be made under section 69 of the act on account of excess stock and the remaining amount is hereby deleted.12. ..... a survey under section 133a of the act was conducted on 25th sept. ..... but before me it was submitted that the assessee had made this statement under coercion and pressure and had never acted on the impugned statement.6. .....

Harshavardhan Chemicals and Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)101ITD66(Jodh.)

..... it has been asserted that the entire amount of subsidy was duly reflected in the books of accounts and also offered for taxation since at that stage there was no question of the assessee becoming disentitled to any part of the subsidy. ..... assessee's mischievous practice was discovered and a cbi enquiry was conducted against the assessee's company and a charge sheet was filed in the court of district and sessions judge, indore, under the essential commodities act and another charge sheet in the court of special judicial magistrate indore under ipc. ..... nevertheless, we find that the taxability of income has to be considered as per the provisions of i.t.act and accounting practice cannot govern the chargeability or otherwise of the income. ..... after the amendment of the electricity [supply] act, 1948 in 1956 the assessee company increased the charges. ..... act, 1961 no accounting practice can justify its exclusion. ..... act stipulates that the total income of any previous year includes all incomes from whatever source which accrues or arises or is deemed to accrue or arise to him in india during such year. ..... supreme court in the case of tuticorn alkali chemicals and fertilizers ltd v.cit footsteps of the accounting practice and the taxability is to be examined on the basis of the provisions of the act. .....

Deputy Commissioner of Income Tax Vs. Raj Kumar Agarwal [Alongwith Ita

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)102TTJ(Jodh.)991

..... , 2000.proviso to section 1 13 mandating the levy of surcharge on tax in the case of block assessment cases was inserted by finance act, 2002 w.e.f.1st june, 2002, its operation has not been made retrospective in any manner. ..... the later decision was rendered after considering the amendment in section 158bb by finance act, 2002 with retrospective effect from 1st july, 1995.there is no dearth of the orders passed by the tribunal deleting the additions made only on the basis of report furnished by the dvo. .....

Assistant Commissioner of Income Vs. White and White Mineral (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2008)114TTJ(Jodh.)405

..... we are of the considered opinion that if the legislature intended to treat the order under section 132(3) r/w section 132(5) of the act, it would have clearly spelt out that even the panchnama drawn for formally withdrawing the prohibitory order would be treated as a valid panchnama for limitation purposes. ..... 50,80,000 made by the ao in apparent and deliberate disregard of the principles of natural justice and the provisions of law contained in it act is patently void and the same ought to have been deleted on account of breach of the provisions of law and principles of natural justice. ..... no such addition can be validly made under section 69 or under any other provision of it act, 1961, in the hands of the appellant company. ..... simultaneously, a survey under section 133a of the act was also covered at m/s white & white minerals (p) ltd. ..... 50,80,000 made under section 69 of it act, 1961 also on account of the fact that the appellant company has made no investment and therefore, the question of making any addition on account of alleged unexplained investment which falls within the ambit of section 69 does ..... , 2005 passed under section 158bc r/w section 143(3) of the it act, 1961 (hereinafter referred to as 'the act' for short).2. ..... the office room situated near the main gate of the factory premises in which documents, loose papers and books of accounts were lying was put under prohibitory order under section 132(3) of the act on 21st dec. .....

Ansari Builders Vs. Income Tax Officer (ito V. Ansari

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... the said return is annexed with an audit report in the prescribed form under s.44ab of the act. .....

Shri Madanlal Saboo Vs. Asst. Commissioner of I.T.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)89ITD117(Jodh.)

..... that the interest be charged as per rule/law and mentions section and the amount under which interest is payable in the notice of demand issued simultaneously under section 156 of the act then the charge of interest would be valid as notice of demand had been issued in pursuance of the assessment order as held by the hon'ble punj. ..... , when the assessment order is silent on whether any interest is leviable, the notice of demand under section 156 of the act cannot go beyond the assessment order and the assessee cannot be served with any such notice demanding interest. ..... the assessment order that interest be charged as per rule/law then there would be no valid order for charging of interest even if section and amount of interest is mentioned in the demand notice under section 156 of the i.t.act or in tax computation sheet (itns 150).therefore, we hold that the interest has validly been charged by the a.o. ..... high court held that since the same officer had passed on the same day the assessment order and the demand notice specifying the quantum of interest charged under section 234b of the act, the charge of interest was valid. ..... total income but also the net sum which will be payable by the assessee for the assessment year in question and the demand notice has to be issued under section 156 of the income-tax act, 1961, in consequence of such an order. ..... the same day simultaneously, the quantum of interest and the section under which it was charged, namely, 234b of the act was mentioned. .....

income Tax Officer Vs. Udai Mohan and Co.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)85TTJ(Jodh.)10

..... circumstances of this case, the tribunal was not right in coming to the conclusion that the ito having assessed the assessee under section 144 of the act for default, attracting the provisions thereof while rejecting its application for registration under section 185(5) of the act on the ground of defaults under section 184, it should have given a finding (1) that no genuine firm was in existence, or (2) that the ..... it seems that the ito had not applied a judicial mind while passing an order under section 185(5) of the act because the order in question is very cursory and devoid of any reasons which may give an impression that the ito had applied judicial mind before arriving at a particular decision for ..... of the considered opinion that the ao has exercised a discretion without applying judicial mind and hence the finding of the learned cit(a) whereby he cancelled ao's order under section 185(5) of the act directing him to allow registration to the assessee-firm is upheld and the ground of appeal of the department is dismissed.19. ..... court decision (supra), the registration was refused to the assessee-firm on the ground that the assessment had been completed under section 144 of the act and there was no proof whether the profits had been divided in the ratio specified in the deed. ..... ito in the aforesaid order was that the assessment has been completed under section 144 of the act and there is no proof whether the profits have been divided in the ratio specified in the ..... head carriage in .....

Deputy Commissioner of Income Tax Vs. M.L. Jain

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)96TTJ(Jodh.)362

..... the learned authorised representative has placed reliance on various decisions, but when the provisions of the act are very much clear on this issue, there is no need of any decision to fall back upon but in order to strengthen our finding, we draw support from these ..... the cit(a) deleted this addition on the reasoning that under section 69a of the act no (sic) addition can be made if the assessee is found to be the owner of any money, bullion, jewellery or other valuable articles and also that such money, bullion, jewellery or other valuable articles are not recorded ..... in these circumstances, the statements recorded under section 132(4) of the act that too during the search proceedings when the atmosphere is surcharged usually and when the documentary evidence justifies the claim of the assessee, no such addition can be made in relation to these gifts in the ..... an appeal by the revenue, arising out of a block assessment order under section 158bc of the act for the block period of 1988-89 to 1998-99.2. ..... of "undisclosed income" given in the act is very clear in this regard. ..... in brief relating to this appeal are that action under section 132(1) of the act was taken in the case of sh. ..... cit(a) deleted the addition of income which was already shown in the regular books of account or which was below taxable limit or where there was no tax liability after allowing rebate under section 88 of the act. ..... is solely based on the statement of the assessee recorded under section 132(4) of the act. .....

Arihant Tiles and Marbles (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)104TTJ(Jodh.)149

..... namely : (f) "manufacture" includes any process,-- (i) incidental or ancillary to the completion of a manufactured product; and (ii) which is specified in relation to any goods in the section or chapter notes of the schedule to the central excise tariff act, 1985 as amounting to manufacture, and the word "manufacturer" shall be construed accordingly and shall include not only a person who employs hired labour in the production or manufacture of excisable goods, but also any person who ..... not that of a mine owner, but of a factory owner who is engaged in the activity of manufacturing which undergoes several stages through different technical procedures with the help of the set up exhaustive plant and machinery in the factory. ..... no doubt such commodity undergoes several processes from the initial stage to the final stage and undergoes a change, but it is only when the change or series of changes, take the commodity to the point where commercially it can no longer be regarded as the original commodity but instead is recognized as a ..... it passes through the first stage of production when wheat is grown by the farmer, the second stage of production when wheat is converted into flour by the miller and the third stage of production when flour is utilized by the baker to ..... we conclude that although at some point processing and manufacturing will merge, but where the commodity retains a continuing substantial identity through the processing stage we cannot say that it has been manufactured. .....

income Tax Officer Vs. Rajendra Kumar Taparia

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2007)106TTJ(Jodh.)712

..... therefore, what is necessary to establish to prove a cash credit under section 68 of the act is that any other person other than the assessee must have given or deposited money(s) worth with assessee out of his ..... it is for that specific purpose that section 131 of the act has been introduced so that in case of any suspicion, the ito or the authorities concerned may exercise the power of civil court under that provision and call upon the creditor concerned to prove ..... at the same time, the taxman has to act as ordinary prudent man instead of posing as a super human being and trying to prove himself as ..... pertinent to mention that section 68 is a new section, which is a culmination of a series of judicial pronouncements under the provisions of the old act of 1922, on the issues relating to cash credit.15. ..... requirements of the law to prove the genuinenity of a cash credit, we would reproduce the section 68 of the it act, 1961 (hereinafter referred to as 'the act' for short).sec. ..... unlimited powers have been given by the precincts of this section and other sections of this act to ascertain the veracity of a fact.49. ..... the bank does not act as an agent of the customer nor can it be said that the banker maintains the pass book under the instructions of the customer ..... section 34 of the evidence act, 1872 provides that entries in books of accounts, which are regularly kept and maintained in the ordinary course of business, are relevant, whenever they refer to a matter into which the court has to .....