Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)112TTJ(Chd.)572
1. This is an appeal by the Revenue against the order of the CIT(A) order dt. 8th March, 2002 pertaining to asst. yr. 1996-97.2. The only issue in this appeal involves the efficacy or otherwise of an order passed by the AO under Section 154 of the IT Act, 1961 (in short 'the Act'), dt. 30th March, 2001 for the asst. yr. 1996-97. The AO has by way of present proceedings attempted to modify the order of the assessment made under Section 143(3) of the Act dt. 20th March, 1997 read with his order dt. 1st May, 2000 passed under Section 154 of the Act for the asst. yr. 1996-97. In the assessment finalized earlier, the AO had allowed the assessee set off of the earlier unabsorbed depreciation and losses amounting to Rs. 35,79,113, but as there was no sufficient income in the asst. yr. 1996-97, a portion of it was also allowed to be carried forward. It would be relevant to note here that brought forward unabsorbed depreciation of Rs. 35,79,113 corresponded to various assessment years starting...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)103TTJ(Chd.)988
1. This appeal is by the assessee challenging the order of the learned CIT dt. 30th Sept., 2003 on the following grounds: 1. The learned CIT is not justified in rejecting the application of appellant for registration under Section 12A(a) of the IT Act, 1961 by holding: (a) That charitable institution provides service free of cost and for no gain and for the benefit of public at large and nothing charitable is being done ignoring the main objects and the purpose for which the appellant authority has been created. (b) That the facilities being provided for the benefit of general public are not for charitable purpose but for getting better value of plots being sold by authority. 2. That the learned CIT is not justified in holding that the words 'general public utility' in the context of appellant mean benefits derived by general public other than plot holders. 3. That the learned CIT is not justified in comparing the appellant with private builders completely ignoring the fact that appel...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)106TTJ(Chd.)1096
1. All the aforesaid six appeals have been preferred by the assessee against the respective orders of the CIT(A) dt. 14th March, 2000, in respect of asst. yr. 1989-90 and dt. 5th Sept., 2003 pertaining to the asst. yrs. 1991-92 to 1996-97.2. Since the appeals relate to a single assessee and involve certain common issues, they have been clubbed and heard together and a consolidated order is being passed for the sake of convenience and brevity.3. Shri Ashwani Kumar appeared on behalf of the appellant assessee and Smt. Preeti Garg, learned Departmental Representative, appeared on behalf of the respondent Revenue. Both the counsel have been heard and their submissions considered with respect to issues involved in the said appeals. 1. That the order of the learned CIT(A) is defective both in law and facts of the case. 2. That the income of the club is exempt under Section 10(23) of the IT Act and the applications for exemption were duly submitted in time. 3. That the learned CIT(A) is not ...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)8SOT788(Chd.)
All the aforesaid six appeals have been preferred by the assessee against the respective orders of the Commissioner (Appeals) dated 14-3-2000 in respect of assessment year 1989-90 and dated 5-9-2003 pertaining to the assessment years 1991-92 to 1996-97.Since, the appeals relate to a single assessee and involve certain common issues, they have been clubbed and heard together and a consolidated order is being passed for the sake of convenience and brevity.Shri Ashwani Kumar appeared on behalf of the appellant assessee and Smt. Preeti Garg, learned Departmental Representative appeared on behalf of the respondent revenue. Both the counsels have been heard and their submissions considered with respect to issues involved in the said appeals.(1) That the order of the learned Commissioner (Appeals) is defective both in law and facts of the case.(2) That the income of the club is exempt under section 10(23) of the Income Tax Act and the applications for exemption were duly submitted in time.(3...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)105ITD692(Chd.)
1. The appeal of the assessee for assessment year 2002-03 is directed against the order dated 27-7-2005 of Commissioner of Income-tax (Appeals), Shimla. The only ground involved in this appeal is relating to taxability of Matiz car received by the assessee from M/ s.Electrolux India Ltd. manufacturer of Allywin refrigerator on the basis of scratch card scheme related to the purchase of refrigerator. I have heard the parties and perused the record.2. There is delay of 9 days in this appeal. The learned Counsel for the assessee fairly conceded that because of huge rush in his chamber for filing of the returns, some inadvertent delay occurred. Considering the fact that the assessee had taken considerable steps for filing the appeal in time, the delay of 9 days is condoned.3. The relevant facts in this case are that the assessee is a teacher by profession. He had purchased an Allywin refrigerator on 26-10-2000 from a dealer namely M/s. G.D. Khanna & Sons, Shimla and as per the scheme ...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)104TTJ(Chd.)983
1. We find it convenient to dispose of these two appeals of the Revenue pertaining to different assessees involving some common issues by this consolidated order. We have heard the parties and perused the record.2. The relevant facts, briefly stated, are that both the respondents are engaged in the business of manufacturing, trading and export of cycle and auto parts. The AO had made assessment under Section 143(3) in both the cases and restricted the claim of the respondents under Section 80HHC. The CIT(A) has allowed relief to the respondents. The Revenue being aggrieved is in appeal before the Tribunal.3. We will first take up the common grounds of appeal. In Appeal No.637/Chd/2005, ground Nos. 2 and 6 are as under: 1. That the learned CIT(A)-I has erred in law and facts in directing not to reduce 90 per cent of the exchange fluctuation pertaining to the earlier years from the profit and gains of business and profession, by ignoring the fact that the same fell under the category of...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)104ITD408(Chd.)
1. Appeal of the assessee for assessment year 2002-03 is directed against the order dated 31^stOct., 2005 of the CIT(A), Chandigarh. We have heard the parties and perused the records.2. The relevant facts briefly stated are that the assessee is a co-operative society primarily engaged in procurement, processing and marketing of milk and milk products. The assessee had filed return of income on 29^thOct., 2002 for assessment year under appeal declaring nil income. The said return had been processed Under Section 143(3) accepting the returned income. The computation of nil income was arrived at by the assessee as under- As per the note given on the computation of income chart, it was claimed by the assessee that the interest income earned from cooperative societies amounting to Rs. 7,95,37,490 was eligible for deduction Under Section 80P(2)(d) but the claim was restricted to the net income determined above at Rs. 4,98,64,196. On scrutiny of accounts, the AO was of the view that interest...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)1SOT464(Chd.)
All the above six appeals by the revenue are directed against the two different consolidated orders of Learned CIT (A), Ludhiana for assessment years 1985-86 to 1987-88. Since the appeals are against two consolidated order of Learned CIT (A) and involves common and identical grounds of appeal, all these appeals were heard together and are being disposed of by this consolidated order for the sake of convenience.First we take up ITA Nos. 484/Chandi./97. The sole effective ground in this appeal is reproduced hereunder : "That on the facts and in the circumstances of the case, Learned CIT (A) has erred in annulling the order of the assessing officer passed under section 144 dated 13-5-1996 in pursuance to notice issued under section 148 of the Income Tax Act, 1961." Briefly stated the facts of this case are that the assessee filed return of income for assessment year 1985-86 and the assessment was completed under section 143(1)(a) in a summary manner which was later on reopened under sect...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)292ITR268(Chd.)
1. In this case, the Chandigarh Bench of the Tribunal for asst. yrs.1990-91 to 1992-93 in ITA No. 1333/Chd/1994, ITA Nos. 944 and 1591/Chd/1995 vide order dt. 22 Nov., 1996 held that deduction under Section 80M is permissible on the net dividend to be determined after deducting proportionate administrative expenses and also deduction allowed under Section 36(1)(iii) from the gross dividend. The assessee's appeal against the decision of the Tribunal is pending in the High Court. In the present case, the assessee made a request for constitution of the Special Bench in respect of common issue relating to computation of deduction under Section 80M as in the case of Mahavii Spinning MMs Ltd. in ITA No. 26/Chd/1996 for asst. yr. 1991-92 vide para 2 of its order the Tribunal held that no expenditure can be deducted on proportionate basis out of the common administrative expenses for the purpose of computation of deduction under Section 80M.The request of the assessee was accepted by the Pres...
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)106TTJ(Chd.)250
1. This appeal is by the Revenue challenging the order of the learned CIT(A) dt. 9th July, 2004 on the following grounds: 1. That the learned CIT(A) has erred in law and facts in deleting the addition of Rs. 17,09,299 made by the AO on account of deemed dividend under Section 2(22)(e) of the IT Act, 1961. 2. It is prayed that the order of the learned CIT(A) be set aside and that of AO be restored. 3. The appellant craves leave to add or amend the grounds of appeal before it is finally disposed of.2. Though the assessee has taken as many as three grounds of appeal but the only effective ground pertains to deleting the addition of Rs. 17,09,299 on account of deemed dividend under Section 2(22)(e) of the Act.3. The assessee showed income of Rs. 9,99,126 in its return filed on 24th Oct., 2001 by declaring deduction of Rs. 82,300 under Section 80HHC. M/s Ariel Exports (P) Ltd. advanced money to the assessee and there was credit balance in the account of M/s Ariel Exports (P) Ltd. in the bo...
Tag this Judgment!