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2013 (9) TMI 1302
... ... ... ... ..... Assessing Officer with reference to the books of account of M/s. Star Automobiles but the impugned difference was assessed in the hands of the assessee out of the bonafide error as the two cases are of same group. Accordingly, the addition made to the returned income on this count is not sustainable and hence, it is deleted. 23. We have considered the rival contentions and found that after calling the remand report from the Assessing Officer, ld Commissioner of Income tax (Appeals) found that reconciliation statement was f....... + More
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2013 (9) TMI 1301
... ... ... ... ..... Income tax Act. Under the said provision, the Insurer is obliged to deduct the tax at source from the amount of interest paid by the Insurer to the claimant. The said amount has to be deposited with the Government of India as the income tax deducted at source. The Tribunal below has grossly erred in directing the Insurer to pay the said sum to the claimant. Learned advocate Mr. Nawal Kishore Singh has appeared for the respondent-claimant. He candidly admits that there is statutory liability upon the Insurer to deduct the t....... + More
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2013 (9) TMI 1300
... ... ... ... ..... has either been received or accrued to assessee in a previous year, the question of levying any income tax does not arise at all. Furthermore, mere wrong deduction of tax at source by contractee will not give right to the contractor to receive that income. In the instant case before us, the alleged amount of proforma invoice has neither been received nor accrued to the assessee during the relevant assessment year under consideration. Therefore, there is no justification in the action of CIT(A) for bringing to tax net such ....... + More
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2013 (9) TMI 1299
... ... ... ... ..... mpowered to make the assessment within a period of four years from the end of the period from which the assessment is made. 3. Though no counter affidavit is filed on behalf of the respondents, it is fairly conceded by the learned Special Government Pleader for Commercial Taxes that the assessment from April 2005 to May, 2009 is beyond the period of four years mentioned under Section 21(4) of the Act. 4. In the facts and circumstances, the impugned assessment for the period from April 2005 to May 2009 is hereby declared as....... + More
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2013 (9) TMI 1298
... ... ... ... ..... fter the child is born out of their union? Since the child is now a grown up girl, her welfare must be the prime consideration for both the parties. In view of the foregoing reasons, we are of the opinion that the two parties in this case must reconcile and if the Appellant so feels that the Respondent is still suffering, then she must be given the right treatment. The Respondent must stick to her treatment plan and make the best attempts to get better. It is not in the best interest of either the Respondent or her daughte....... + More
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2013 (9) TMI 1297
... ... ... ... ..... of the Revenue Authorities and he has no objection if the matter is remanded back to the files of the AO for fresh examination of the issue. 5. We have heard both the parties and perused the orders of the Revenue Authorities as well as the material placed before us. On hearing both the parties, we find merit in the Ld Counsel s arguments. It is a fact that neither the AO nor the CIT (A) have really gone into the issue of existence of excess funds and have given categorical findings about this fact. Therefore, in our consid....... + More
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2013 (9) TMI 1296
... ... ... ... ..... at source adjusted against their tax liability. If any amount deducted at source is found to be in excess of the tax liability, the petitioners are entitled to refund in accordance with the provisions of the Act. 9. In view of the above, the writ petitions stand disposed of with liberty to the petitioners to file the income tax returns and seek refund of excess tax deducted at source in accordance with law. 10. Keeping in view of the observations made in Karnail Singh's, Sarti's and Kulwant Rai's cases (supra),....... + More
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2013 (9) TMI 1295
... ... ... ... ..... ue is reversed and this part of the ground no.1 raised by the Revenue is allowed. 17. Ground no.2 relates to confirming of the addition for the provisions of the income tax recoverable from the customers amounting to Rs. 3,96,76,000/- for the purpose of computing the book profits u/s 115JB of the Act. This issue is identical to the ground no.1 raised by the assessee vide appeal ITA No.7438/M/2011 (supra), which is adjudicated by us vide paras 5 and 6 of this order. In the assessee‟s appeal, we have decided the matter....... + More
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2013 (9) TMI 1294
... ... ... ... ..... nce of the TDS claimed can be done. So far as the CIT (A) relying on rule 37BA of IT Rules is concerned, we are of the view that in the first place the said rule is not applicable to the assessment year under dispute as it has been inserted into the statute by IT (Sixth Amendment) Rules 2009 with effect from 1-4-2009. Even if we go by the aforesaid rule, the Assessing Officer was required to give credit to the TDS in the corresponding assessment years wherein the income was so offered which also would have resulted in refu....... + More
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2013 (9) TMI 1293
... ... ... ... ..... rds charges for display of banners and right to use common area are from members who own commercial space in the complex Manipal Centre. The character of the receipts though can be termed as licence fee/rent are nevertheless charges paid by the members and to be used for the purpose for which the members got together viz., maintenance and convenient enjoyment of the North and South Block of Manipal Centre complex. In that view of the matter there is complete identity of the contributors and participators and the other two ....... + More
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2013 (9) TMI 1292
... ... ... ... ..... Tamil Nadu, Maharashtra and Pondicherry Acts, the constitutional validity of those legislation has already been upheld. We also fully concur with the views expressed by this Court in those Judgments and uphold the constitutional validity of the Andhra Act. 13. Learned Counsel for the Petitioner raised a further contention that Vasavi Cooperative Bank Ltd. does not come within the definition of financial establishment Under Section 2(c) of the Andhra Act. We find it difficult to accept that contention. What has been exclude....... + More
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2013 (9) TMI 1291
... ... ... ... ..... , may at the worst cause loss of some revenue or income-tax payable by the individual assessee - On the other hand, if a contrary view is taken, it would leave the assessee totally at the mercy of the IT authorities inasmuch as the assessee has not been provided any remedy under the Act against non-decision - Moreover, the former view furthers the object and purpose of the statutory provision - Thus, the better interpretation would be to hold that the effect of non-consideration of the application for registration under s........ + More
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2013 (9) TMI 1290
... ... ... ... ..... offers. Time has, therefore, come to take next step viz. recovery of cost from such officers who take such frivolous decisions of filing appeals, even after knowing well that these are totally vexatious and uncalled for appeals. We clarify that such an order of recovery of cost from the concerned officer be passed only in those cases where appeal is found to be ex-facie frivolous and the decision to file the appeal is also found to be palpably irrational and uncalled for. 16. In a case like the present, where the concerned....... + More
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2013 (9) TMI 1289
... ... ... ... ..... hard to impress us that the order being a cryptic one this Court should set aside the same and remit the matter to the DRAT. The said prayer has been seriously opposed by Mr. Jain, learned senior counsel for the appellant-bank and Mr. Dham, learned counsel for the borrower. Two aspects weigh in our mind not to take recourse to such a mode, namely, (i) the auction purchaser has not challenged the order passed by the DRAT before the High Court nor has he come to this Court and further Mr. Jain has restricted his argument onl....... + More
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2013 (9) TMI 1288
... ... ... ... ..... amend their pleadings appropriately and that respondent shall not be confined in her request for amendment of the plaint to what is stated in I.A. No. 855 of 2006. I also make it clear that it is open to the parties or any of them to request the trial court to get the properties measured as per the old survey also if such a course if possible. It is open to the parties to file their objection to Exts. C1 to C2(a) or the report and plan that may be obtained based on the measurement of the properties as per the old survey. I....... + More
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2013 (9) TMI 1287
... ... ... ... ..... 2010 relevant to the AY. 2005-06 decided on 13-05-2011. The Tribunal in the said appeal of the assessee, held that assessee is eligible for claiming the benefit under tonnage tax scheme. Following the decision of the Tribunal, the CIT(Appeals) has allowed the appeal of the assessee for AY. 2009-10. The ld. AR placed on record the copy of the order of the Tribunal dated 13-05-2011 in ITA No. 356/Mds/2010 (supra). 5. We have heard the submissions made by both the sides and have perused the orders of the authorities below as ....... + More
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2013 (9) TMI 1286
... ... ... ... ..... s elapsed in pursuing the legal remedies, the respondent-assessee would be within its rights to raise all the contentions, including this, before the revenue authorities at an appropriate time, if such need so arises; and the concerned authority may consider the same in accordance with law having regard to all the facts and circumstances. 14.00. For the foregoing reasons, the present appeal succeeds and the same is, accordingly, partly allowed. The impugned orders are quashed and set aside, remanding the matter to the Comm....... + More
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2013 (9) TMI 1285
... ... ... ... ..... ; the words issued and be added; (2) In the same paragraph word Rs. occurring before the figure 1,44,00,000 and mark /- occurring after the said figure be deleted; (3) Similarly, in the same paragraph word Rs. occurring before the figure 1,42,95,770 and mark of /- occurring after the said figure be deleted; (4) In the same paragraph the word affected appearing after the words is to be and before the words by paying of be changed and read as effected ; (5) In the same paragraph ₹ 1,14,230 be deleted and substituted by....... + More
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2013 (9) TMI 1284
... ... ... ... ..... was granted registration under section 12A. Even if the assessee s receipts fall in the nature of trade, commerce or business activities, then also it needs to be examined whether these activities are directly related to promotion and carrying of sports activities as per the objects or not, if these activities are not in accordance with the objects on the activities of the trust are not genuine, then certainly registration granted earlier can be cancelled under section 12AA(3). Since these aspects have not been examined pr....... + More
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2013 (9) TMI 1283
... ... ... ... ..... cts in the case of Sh. Charanjit Singh Atwal vs. ITO and others (supra) and in the case of Satnam Singh Kainth vs. ITO and others (supra), where detailed orders have been passed in the said cases. Since the facts in the present case are identical to the facts in the case of Sh. Charanjit Singh Atwal vs. ITO and others (supra) and in the case of Satnam Singh Kainth vs. ITO and others (supra), therefore, our order in the case of Satnam Singh Kainth vs. ITO and others (supra) is identically applicable to the facts of the pres....... + More
