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Income Tax - Case Laws
Showing 1 to 20 of 142 Records
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1997 (9) TMI 649 - ALLAHABAD HIGH COURT
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... ... ..... e. Therefore, the sentences under these sections are maintained. 43. In the result, the appeal fails and is dismissed. The convictions of the appellants under all the three sections are confirmed. However, the death sentence awarded to appellant Ram Chandra Tewari is altered into imprisonment for life. All the sentences, shall run concurrently. 44. The reference for confirmation of death sentence awarded to appellant Ram Chandra Tewari is accordingly rejected. 45. Appellant Smt. Munni Devi is on bail. Her bail bonds are cancelled and the sureties are discharged. She shall be taken into custody forthwith to serve out the sentences awarded by the learned Sessions Judge. Appellant Ram Chandra Tewari is in jail. He shall undergo imprisonment as awarded by this Court. 46. The office is directed to send a copy of this order to C.J.M. Lalitpur within a week. The C. J. M. is directed to submit compliance report to this Court within three months of the receipt of a copy of this order.
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1997 (9) TMI 646 - PATNA HIGH COURT
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... ... ..... efore it is imminent so that it may also take into consideration the order to be passed therein. However, such exercise of discretion on the part of the criminal court in an appropriate case will depend on the facts of each case and it is not possible to lay down any proposition that if the Settlement Commission had allowed an application to be proceeded with an order refusing to stay the criminal proceeding by the trial court under Section 309 of the Code of Criminal Procedure, on that ground will amount to an abuse of the process of the court to make it a fit case for interference by this court in the exercise of its inherent powers under Section 482 of the Code of Criminal Procedure. 32. Thus, for the foregoing reasons I am of the opinion that the petitioners have failed to make out any case either for the quashing of the criminal prosecution or for stay of the criminal proceeding. Both the criminal miscellaneous cases are, therefore, found without merit and are dismissed.
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1997 (9) TMI 644 - ITAT MUMBAI
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... ... ..... the assessee, in accordance with law. 22. In the light of our above decision, the issue as to whether the assessee has derived income from profits and gains of business, at this stage, becomes academic. This is so because even if the assessee has derived income from profits and gains of business, if it is found that the said business carried on by the assessee was incidental to the attainment of its objects and separate books of account are maintained by it in respect of such business, exemption under s. 10(21) cannot be denied to the assessee. 23. We, therefore, set aside the orders of the CIT(A) and that of the AO for the respective assessment years and remit the matter to the file of the AO for fresh decision in respect of exemption under s. 10(21), in accordance with law and in the light of our above directions. 24. No other ground has been pressed before us. The same are accordingly dismissed. 25. For statistical purposes, the appeals of the assessee are partly allowed.
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1997 (9) TMI 641 - BOMBAY HIGH COURT
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... ... ..... then there would be some justification for imposition of penalty. In this case, the AO did nothing beyond insisting on the production of donors. Since assessee had furnished primary evidence which was not found false, and there is no evidence either direct or circumstantial to establish or even suggest that the income offered for taxation by the assessee represented concealed income, penalty for concealment under s. 271(1)(c), in our view, is not called for in this case. 11. Considering the facts and circumstances of this case in totality, we are of the view that penalty under s. 271(1)(c) is not justified in this case, for the asst. y₹ 1986-87 and 1988-89. The penalty of ₹ 1,50,000 for the asst. yr. 1986-87 and ₹ 92,221 for the asst. yr. 1988-89 is accordingly deleted. The decisions cited at the bar are on their own facts but principles laid down have been kept in view in arriving at the decision. 12. In the result, the appeals of the assessee are allowed.
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1997 (9) TMI 639 - ALLAHABAD HIGH COURT
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... ... ..... e the interest which accrued on the aforesaid loan, but that contention was rejected and the matter was not further pursued by the assessee in appeal. The question is whether the assessee having followed the mercantile system to include the interest income in the past, can shift to the cash system during the accounting period, relevant to the assessment year in question. 4. In Shiv Prasad Ram Sahai vs. ITR (1966) 61 124 (M) , this Court held that, if the assessee has once chosen the mercantile system for a transaction and has regularly employed that system, it is not open to him unilaterally at any time during subsequent accounting years to change that system. The variation could be only by mutual consent. The assessee has not shown that she had changed over to the cash system from mercantile system by mutual prior consent of the AO. Following the said authority, we answer the aforementioned question in the affirmative, i.e., against the assessee and in favour of the Revenue.
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1997 (9) TMI 632 - BOMBAY HIGH COURT
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... ... ..... ence. In this view of the matter, it is necessary to leave all other points open while quashing the impugned orders and to remand the matter to the Dy. Collector, Ponda to be decided afresh and in the light of the above observations. 11. In the result, the petition is allowed. Rule is made absolute in the above terms. It is made clear that this Court has not expressed any opinion on any of the points sought to be raised except that there is no presumption in law that all lands are agricultural lands, unless they are classified as ‘non-agricultural by order of Government or converted for non-agricultural purpose with the permission of competent authority’ as well as there is no presumption that each and every land found located within the Municipal limits of the city would, by itself, be an indication that the land is ‘non-agricultural land’. The petition is, therefore, accordingly disposed of. There shall be no order as to costs. 12. Petition Allowed.
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1997 (9) TMI 629 - MADRAS HIGH COURT
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... ... ..... loser, to the facts of the case in G.R. Govindarajulu Naidu v. CIT 1973 90 ITR 13 (Mad) and we are, therefore, inclined to follow the observation of the Division Bench mentioned above. That apart, the provision of law, namely, section 2(22)(e ), which we have already extracted above, says that by a fiction dividend is made to include any payment by a company, etc. Therefore, it is difficult for us to introduce another fiction in respect of the words "payment by the company" by construing even a transfer entry as amounting to payment. In other words, when section 2(22)(e) itself introduces a fiction, it is improper for us to introduce another fiction and construe a payment as equivalent to a constructive payment. In this view of the matter, we are not inclined to accept the arguments advanced on behalf of the Revenue and following the decision in G.R. Govindarajulu Naidu v. CIT 1973 90 ITR 13 (Mad), we answer the reference in the affirmative and against the Revenue.
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1997 (9) TMI 623 - MADHYA PRADESH HIGH COURT
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... ... ..... not disputed that the boiler was leased out to the earlier seller. It is also not disputed that the assessee was carrying on leasing business for the last several years. Therefore, after examining these questions of fact, the Tribunal affirmed the finding of the CIT(A) and pointed out that the decision of their Lordships of the Supreme Court in case of McDowell & Co. Ltd. vs. CTO (supra) does not apply in the case of the present assessee. 5. We have gone through the record and perused the order of the Tribunal. We are satisfied that this is essentially a question of fact whether the assessee has committed any breach of law or has acted in violation of the law laid down by their Lordships of the Supreme Court. We are satisfied that these questions of fact were rightly examined by the Tribunal. Both the questions framed by the Revenue are essentially questions of fact and no question of law is involved. 6. There is no merit in this reference application which is dismissed.
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1997 (9) TMI 617 - ALLAHABAD HIGH COURT
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... ... ..... to prove that the apparent was not real which was not discharged in the instant case. The view which has found favour with the Tribunal is supported by more than one decision of this Court. Reference may be made to the decisions of this Court in Century Foams (P.) Ltd. v. CIT 1994 210 ITR 625 and in Swadeshi Cotton Mills Co. Ltd. v. CIT 1989 180 ITR 651 wherein it was held that addition on account of difference between the value of stocks declared to the bank and that which was found in account books could validly be brought to tax if the circumstances of the case warrant such an addition. On the material that was placed before the Tribunal and the findings of fact recorded by it, no exception can be taken to the decision of the Tribunal. We are not prepared to say that addition in question was not supported by any material on record. The order of the Tribunal is concluded by the findings of fact and does not give rise to any question of law. 6. The application is rejected.
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1997 (9) TMI 614 - ITAT MUMBAI
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... ... ..... block period, on the basis of the evidence or materials found during the search and as per the provisions of Chapter IV. That apart, one of the objects of a search is to obtain evidence regarding the true income of an assessee and if such evidence points to a loss, the computation being made under the statute itself, there can be no escape from the conclusion that the loss is to be set off, howsoever reluctant one may be to do so. 11. To sum up, we hold that for the reasons stated above, the assessee’s claim is accepted and the losses for the assessment years 1989-90, 1993-94, 1994-95 and 1995-96, as computed in the block assessment, are directed to be set off against the undisclosed income computed in respect of the other previous years falling within the block period. 12. As already stated in the beginning of this order, we have not heard arguments on the merits of the other grounds taken by the assessee. The appeal is therefore allowed to the extent indicated above.
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1997 (9) TMI 612 - ITAT MUMBAI
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... ... ..... ed CIT(Appeals). The aforesaid time-limit could not be revived or extended. 5.1 It is, therefore, clear that directions issued by the learned CIT(Appeals) to make assessment under section 143(3) of the Income-tax Act were not in accordance with law. At any rate, he was merely to decide whether the adjustment made by the Assessing Officer under section 143(1)(a) was within the limit provided by the Statute or was beyond limitation. After having impliedly held that the exercised carried by the Assessing Officer were beyond his jurisdiction, in our opinion, it was not necessary for the learned CIT(Appeals) to give further direction to make assessment under section 143(3) of the Income-tax Act. The Assessing Officer could have done if it authorised under the law. The directions issued by the learned CIT(Appeals) are without jurisdiction and are hereby set aside. The adjustments made by the Assessing Officer are cancelled. 6. In the result, the assessee’s appeal is allowed.
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1997 (9) TMI 611 - AUTHORITY FOR ADVANCE RULINGS, NEW DELHI
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... ... ..... ect undertaken by the recipient or consideration which would be income of the recipient chargeable under the head ‘Salaries’". No doubt this is a special statutory definition and cannot be straightaway imported into the DTAA. But even so, there must be a rationale for the exclusion which can only be that consideration for projects of the nature mentioned cannot be equated to consideration for services rendered in the course of their execution. 14. In this view of the matter, the Authority pronounces the following ruling on the question posed by the applicant RULING Question Answer Whether the Applicant is liable for tax under the Income-tax Act, 1961, for the assessment year 1997-98 on the contract proceeds receivable from Gas Authority of India Ltd. (GAIL) under the Contract Agreement dated 25-10-1996 in the absence of any PermanentNo. Establishment in India, in view of Articles 5 and 7 of the Double Tax Avoidance Agree-ment between India and France ?"
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1997 (9) TMI 610 - ITAT MUMBAI
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... ... ..... ll not force a man to demand that which he cannot recover. The law will not itself attempt to do an act which would be vain Lex nil frustra facit nor enforce on which would be frivolous - Lex neminem Cogit ad vana seu inutilia - the law will not force anyone to do a thing vain and fruitless." 12. In these circumstances, we are of the opinion that though because of the retrospective amendment an adjustment can be made in assessment, no adjustment can be made under s. 143(1)(a) nor the rectification can be made to the intimation already sent in such a case. If the AO wants to add this amount to the assessees income, he should proceed under s. 143(2) or 147 as the case may be. The assessee consequently cannot be burdened with the liability of additional tax under s. 143(1A) for no fault of it, the levy being penal and akin to the levy of penalty. We, therefore, delete the levy of additional tax and allow the assessees appeal to this extent. The appeal is allowed pro tanto.
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1997 (9) TMI 605 - ALLAHABAD HIGH COURT
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... ... ..... ly recorded a finding of fact that the element of close supervisory control and direction over the artisans is not disputed by the Department in this case. It, therefore, follows that the assessee gets the different brassware articles manufactured from the artisans, but under its own close supervision and control. The design, shape and pattern are suggested by the assessee and conforming to them the articles are manufactured by the artisans. The artisans are not free to manufacture any item of their own in any shape or pattern they like, but they are guided by the assessee itself as to of which pattern and design they are required to manufacture the brassware articles. Applying the test of close supervision and control, we are of the view that the Appellate Tribunal was right in holding that the assessee can be classified as an industrial company. We, therefore, answer the aforementioned question in the affirmative, that is, against the Revenue and in favour of the assessee.
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1997 (9) TMI 169 - ITAT PATNA
Method Of Accounting ... ... ... ... ..... amounts out of the head Machinery and maintenance and motor car running , etc., were also disallowed and added back. In such a situation and looking to the immediate past and future, I am of the view that the method adopted by the assessee was not found compatible by the Assessing Officer by which income could properly be deduced. I am, therefore, of the opinion that the first proviso to sub-section (1) of section 145 of the Act stood impliedly invoked by the Assessing Officer. 11. In the result, I am of the view that there was no need to go into the specific items of expenses. Assessment in the present case should have been as in the immediate past and future, completed by applying a net profit rate. 12. I, therefore, agree with the view taken by the ld. Accountant Member and answer the point of difference accordingly. 13. The matter will now go back to the regular Bench for disposal of the case in accordance with the provisions of section 255(4) of the Income-tax Act, 1961.
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1997 (9) TMI 168 - ITAT PATNA
Penalty, For Concealment Of Income ... ... ... ... ..... specifically took stock of such a situation, as a sequel to which legislative changes were effected. 12. Applying the aforesaid dictum to the facts of the present case, as is evident from the point of reference under section 255(4) itself, the loss returned by the assessee at Rs. 7,92,517 eventually, as a result of disallowance of expenditure, got decimated to Rs. 5,88,220, the difference to the extent of Rs. 1,82,929 held to be representing income either concealed or in respect of which inaccurate particulars were furnished by him. It is this amount of Rs. 1,82,929 which partakes the character of total income for the purposes of reaching the tax sought to be evaded for imposing penalty under section 271(1)(c) of the IT Act. 13. In view of the foregoing, I agree with the view taken by the learned Accountant Member. 14. The matter will now go back to the regular Division Bench at Patna for disposal, as envisaged by the latter part of sub-section (4) of section 255 of the Act.
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1997 (9) TMI 164 - ITAT NAGPUR
Assessing Officer, Assessment Year ... ... ... ... ..... Shri N.B. Lalson and Shri Rajan are interested witnesses, we accept the assessee s explanation that they are kept in services because the assessee is afraid of making them hostile under the given circumstances. 19. Considering the facts, rival submissions and going through the evidence produced before us, we are of the view that the application filed by the revenue under Rule 29 of ITAT Rules is without merit. The learned Departmental Representative s submission that the matter may be sent back to the file of the learned CIT(Appeals) so as to give the revenue a fresh inning by way of cross-examination of the assessee s experts, cannot be accepted in view of the long years that have been elapsed for some reason or other. Under these circumstances, we are not inclined to accept the revenue s stand and the same is rejected. The departmental appeal which was dismissed vide our order dated 28-6-1985 shall continue to stand dismissed. 20. We dispose of the applications accordingly.
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1997 (9) TMI 162 - ITAT MADRAS-A
Chargeable As, Diversion Of ... ... ... ... ..... is no justification for treating the amount of Rs. 1,24,05,255 as capital receipts. I, therefore, agree with the learned brother that the amount of Rs. 1,24,05,255 is taxable as revenue receipts. 6. The assessee has collected the amount of Rs. 1,24,05,255 from dealers/ customers as part and parcel of trading receipts. The utilisation of this amount, even for payment of term loan to Central Financial Institution does not affect the nature of receipt. Nature of receipt has to be determined under the provision of Income-tax Act from the commercial point of view. The amount of Rs. 1,24,05,255 is not a receipt from Government. But the amount has been realised by the assessee from dealers/customers as price of free sale sugar was more than the price of levy sugar. The purpose of allowing higher quota of tree sale sugar was to enable the assessee to pay term loan of Financial Institution which can be paid only out of the amount of Rs. 1,24,05,255 form part of income of the assessee.
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1997 (9) TMI 160 - ITAT JAIPUR
Notice Of Reassessment, Delay In Notice ... ... ... ... ..... efore the limitation was a precondition. Under the present Act, only issue before the limitation was made mandatory. This significant change according to the Patna High Court, was to blunt the efforts of recalcitrant assessee wishing to avoid the service of notice in the present case, there is no such allegation against the assessee, nor any material to indicate so. 21. In the ultimate analysis, just as issue and service are held not to be synonymous by most of the courts, including the Apex Court under the Income-tax Act, 1961, in our opinion, the words preparation and issue are also not synonymous. In the facts of the present case, the notice was prepared but not issued, and the presumption under the Evidence Act about official acts having been performed regularly stands demolished. We, therefore, hold the notice under section 148 to be bad in law. The order of the CIT(Appeals) does not call for our interference. 22. In the result, the appeal of the department is dismissed.
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1997 (9) TMI 159 - ITAT JAIPUR
Guarantee Money, Commission ... ... ... ... ..... ssions and considered them carefully. We have also perused the material on record. We find that the Tribunal in its order in ITA Nos. 383 and 384/JP/90 dated 24-6-93 has restored the matter to the file of the A.O. In para 8 the Tribunal has observed that Another issue which is taken up by the learned counsel for the assessee is regarding entertainment expenses. Although he agreed that these arc entertainment expenses, yet he requested that amount spent on the staff and included in these expenses may be allowed. The A.O. may consider the claim of the assessee and decide the issue on merits after giving the assessee a reasonable opportunity of being heard and for providing necessary details. By concurring with the decision of the Tribunal, we also restore the matter to the file of the A.O. on the same reasoning and the Assessing Officer is directed to pass a fresh order after giving an opportunity to the assessee. 18. In the result, the appeal of the assessee is partly allowed.
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