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Case Laws
Showing 101 to 120 of 187 Records
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1988 (6) TMI 95 - ITAT MADRAS-B
Firm, Entitlement To Registration, Revision Of Order, Order Prejudicial To Interests Of Revenue
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1988 (6) TMI 92 - ITAT MADRAS-B
Assessment Year ... ... ... ... ..... Madras in 1940 and has become a permanent resident or domicile of Tamil Nadu since that date, namely 12th October, 1940. 28. If the Kerala Act 30 of 1975 is inapplicable to the appellant s case, there can hardly be any dispute to the acceptance of the appellant s claim to be assessed in the status of a Hindu undivided family for the seven years under appeal, since such HUF status of the appellant has already been accepted by the department for the earlier three assessment years 1974-75 to 1976-77. We therefore accept the main contentions urged on behalf of the appellant and hold that the appellant should be assessed only in the status of a HUF for all these assessment years and direct the ITO to assess the appellant in that status only for all these years. 29. In view of our above decision on the main issue raised by the appellant, we do not consider it necessary to examine the alternative submission made on behalf of the appellant. 30. In the result, the appeals are allowed.
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1988 (6) TMI 89 - ITAT MADRAS-A
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... ... ..... intimate connection between the effects and the person of the assessee in order to constitute personal effects. Commensurate with the status the assessee enjoy in the Society it is stated that all the articles enumerated in the list appended to the Paper Book are being regularly and commonly being used as households by the members of the HUF. Therefore, these articles answer the description of personal effects as enunciated by the Supreme Court in the aforementioned case. We have also perused the lists of these articles and are satisfied that they constitute the personal effects of the members of the HUF which means the personal effects of the HUF. Therefore, the value of these personal effects has necessarily to be deleted while computing the capital asset of the assessee under s. 2(14) of the Act. In this view of the matter, we reverse the orders of the CIT(A) and hold that the assessee -HUF can have personal effects. 11. In the result, these appeal succeed and are allowed.
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1988 (6) TMI 86 - ITAT MADRAS-A
Capital Asset, Personal Effects ... ... ... ... ..... fects and the person of the assessee in order to constitute personal effects. Commensurate with the status the assessee enjoys in the society it is stated that all the articles enumerated in the list appended to the paper book are being regularly and commonly being used as households by the members of the HUF. Therefore, these articles answer the description of personal effects as enunciated by the Supreme Court in the aforementioned case. We have also pursued the lists of the articles and are satisfied that they constitute the personal effects of the members of the HUF which means the personal effects of the HUF. Therefore, the value of these personal effects has necessarily to be deleted while computing the capital asset of the assessee under section 2(14) of the Act. In this view of the matter, we reverse the orders of the Commissioner of Income-tax (Appeals) and hold that the assessee-HUF can have personal effects. 11. In the result, these appeals succeed and are allowed.
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1988 (6) TMI 84 - ITAT JAIPUR
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... ... ..... tion for reopening of assessment on the basis of low withdrawals of household expenses by the partners. At the most it can be said that the partners have unaccounted money for meeting out household expenses but when the firm has declared primary facts in the return there is no justification for reopening of the assessment in case of the firm specially when no addition is made on account of low withdrawals by the partners. 5. On merits also though in the ground of appeal it is taken that ITO has estimated gross profit rate at 14.5 per cent as against 12.5 per cent declared by the assessee but on perusal of the assessment order it appears that ITO has applied gross profit rate of 12.5 per cent as against 10.5 per cent declared by the assessee. When we have held that reopening is no valid we do not feel it necessary to decide the issue regarding gross profit that too when the figures are not reconciled in grounds of appeal. 6. In the result the appeal of the assessee is allowed.
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1988 (6) TMI 83 - ITAT JAIPUR
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... ... ..... rchases or expenses claimed over and above the actual expenditure, purchases which could be said to be non-certifiable. We have therefore, only to modify the para 4 of the Commissioner rsquo s order to this extent that it should be treated as an observation for the purpose of examination only. This would be obvious as in case after examining records if it is found that these are certain expenses, which cannot be verified for which no explanations are forthcoming or it is established that certain bills do not represent actual purchases the ITO would have necessarily to be called for the explanation of the assessee as to why these items should not be disallowed. The ITO can only examine the case afresh in the light of the above observation and those made by the CIT and the directions of the Commissioner in para 4 are to be treated as more powers for examination purposes and should not be treated as a positive assertion or finding. 7. In the result the appeal is allowed in part.
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1988 (6) TMI 81 - ITAT JAIPUR
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... ... ..... ent for the same by delivery of the papers. It also goes to establish that the party had honoured its commitment in respect of certain other bills wherein the circumstances being identical, which also goes to establish that it was a normal practice evolved between the parties. Considering all these facts and also the observation of the CIT(A) that the debt has become bad, the obvious answer is that the claim should ought to have been allowed in the circumstances of the case. The claim cannot be denied merely because under the Commercial laws the assessee had overlooked or by-passed certain principles for which if any proceedings are to be initiated, they would have to be initiated by the proper concerned authorities with which the Revenue authorities are not concerned for allowing or not allowing of a claim. A claim cannot be denied because of certain procedures having been thwarted in regard to other commercial laws. We allow the claim of the assessee. The appeal is allowed.
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1988 (6) TMI 80 - ITAT JAIPUR
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... ... ..... ted. It also provides powers to the Central Government in regard to investigation to be made on the books and vouchers of the official liquidator. From all this, it could be concluded that the Company no longer remains to be company in the strictest sense of the term during the pendency of the liquidation proceedings. When such a situation exists, it would not be termed as a Company within the meaning of Indian Companies Act and it is not the Company, which is carrying on its business but, it is the Official Liquidator carrying on the business in the course of winding up proceedings. Therefore, the various provisions which are applicable to company for normal operations would not apply to the Official Liquidator. As a consequence, it has to be concluded that in the case of the companies, which are under liquidation, s. 104 would have no application. We, are, accordingly, of the opinion that the proceedings under s. 104 have been wrongly initiated and we quash the proceedings.
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1988 (6) TMI 79 - ITAT JAIPUR
Additional Income-Tax On Undistributed Profits ... ... ... ... ..... d. It also provides powers to the Central Govt. in regard to investigation to be made on the books and vouchers of the Official Liquidator. From all this, it could be concluded that the company no longer remains to be company in the strictest sense of the term during the pendency of the liquidation proceedings. When such a situation exists, it would not be termed as a company within the meaning of Indian Companies Act and it is not the company, which is carrying on its business but it is the Official Liquidator carrying on the business in the course of winding up proceedings. Therefore, the various provisions which are applicable to company for normal operations would not apply to the Official Liquidator. As a consequence it has to be concluded that in the case of the companies, which are under liquidation, section 104 would have no application. We are, accordingly, of the opinion that the proceedings under section 104 have been wrongly initiated and we quash the proceedings.
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1988 (6) TMI 78 - ITAT HYDERABAD-B
Depreciation, Allowability Or Rate Of Depreciation ... ... ... ... ..... te car, it is handled in a much safer, better and careful manner. It is for this reason that while in the former case, the depreciation allowable is 40 per cent, in the latter it is only 20 per cent. We are also not impressed by the reasoning assigned by the learned Appellate Asstt. Commissioner to say that if as per the Income-tax Officer there was no business and the car was not a business asset, no depreciation could have been admissible. The gravamen of the controversy is not as to whether the car is business asset or not. The controversy in fact revolves round as to whether the car is used as a taxi or not. What we feel is that the facts and circumstances of the case go to support the view that the vehicle in this case is being used though as a private car but not as a taxi. The depreciation, therefore, will be regulated by item (1A) by entry E of Appendix I and not by item (7) of Entry III of Appendix I. 14. In the result, the revenue succeeds and the appeal is allowed.
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1988 (6) TMI 77 - ITAT GAUHATI
Jurisdiction Of Income-tax Officer, Assessment, Powers Of AAC / CIT (A) ... ... ... ... ..... what has been narrated in the assessment order that there is no case for the assessee in appeal before the CIT (Appeals), otherwise the scheme of having the first appellate authority would be frustrated. We, therefore, direct the CIT (Appeals) to take up the points of appeal by the assessee on merits promptly and to deal with the various aspect of the matter in accordance with law and after giving the assessee reasonable opportunity of being heard. Since the issue relate to the old year, i.e., 1984-85 and the amount involved is very substantial and the fact that the Appellate Tribunal has granted a conditional stay, it would be appropriate even administratively that the CIT (Appeals) should take up the matter for prompt disposal within 5 (five) months of receipt of this order and the assessee should extend all co-operation needed for disposal of the appeal. Accordingly, we direct so. 24. In the result, the appeal by the assessee is treated as allowed for statistical purposes.
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1988 (6) TMI 76 - ITAT GAUHATI
Assessment Year ... ... ... ... ..... essee had not filed separate appeal under section 246(1)(j) when the assessee was denied the benefit of registration. 11. In view of this situation, we feel that the CIT (Appeals) was not justified in declining to deal with the grounds of appeal by the assessee against the status of the assessee taken as URF by the Assessing Officer. As indicated earlier, other High Courts have not subscribed to the view expressed by the Hon ble Orissa High Court in the case as reported in Nilamani Ghosh and Partners. In the circumstances of the case, we set aside the order of the CIT (Appeals) on this point and restore the matter to his file for fresh disposal of the grounds of appeal of the assessee regarding the status taken as URF and to deal with the matter afresh after giving both the sides opportunities of being heard. Accordingly, the claim of the assessee is treated as allowed for statistical purposes. 12. In the result, the appeal by the assessee is allowed for statistical purposes.
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1988 (6) TMI 75 - ITAT GAUHATI
Assessment Order, Debt Owed, Income Tax, Net Wealth, Subject Matter, Valuation Date ... ... ... ... ..... e assessee in the cases of Vadilal Lallubhai and Vimlaben Vadilal Mehta. 18. It is a settled law that liabilities to tax does not depend on assessment, that ex-hypothesi has already been fixed. The assessment only particularizes the exact sum which a person was liable to pay. The liability to pay income-tax is embedded with the income earned. The process of assessment is a method to ascertain the tax after allowing deductions etc. reference is made to the decision in Kalwa Devadattam v. Union of India 1963 49 ITR 165 (SC). 19. Thus, having regard to the entirety of the facts and circumstances of the case mentioned above, we are of the opinion that the A.A.C. was justified in giving the direction to the W.T.O., subject to our modification of the said direction, as mentioned somewhere in the preceding paragraphs. Thus, we find no justification to interfere with the orders of the A.A.C. on the point subject to our observation given above, the appeals by the Revenue are rejected.
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1988 (6) TMI 74 - ITAT DELHI-E
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... ... ..... are concerned, the orders under s. 25(2) were passed by another Commissioner onthe 27th March, 1987, i.e. almost a year later. But in these orders no improvement was attempted upon and these brief orders merely follow the view taken by the Commissioner in his order dt.24th March, 1986about which we have already recorded our findings. 15. Before parting, we would like to notice that the learned Commissioner in his impugned order for the asst. yr. 1983-84 in the case of Shri Gurcharan Singh Mago has dealt with the guidelines under s. 25(2). They appear in pages 11 to 20. However, we do not approve of the following observations appearing at p. 11. The judges now do not follow a lsquo blinkered way to lay down the lay rsquo . They use their hind sight as well. We would not like to comment any further. 16. For the reasons discussed above, the aforesaid appeals by the assessees are allowed and the orders passed by the CWT,Agra, under s. 25(2), which are under appeal, are cancelled.
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1988 (6) TMI 73 - ITAT DELHI-D
Assessment Year, Development Allowance, Export Business ... ... ... ... ..... uyer on whose behalf the STC would pay it towards various expenses. As regards 1 per cent of the FOB value to be retained by the foreign buyer on account of hidden defects it is virtually a discount and reduces the turnover directly. This amount does not even come to the STC as it has to be retained by the foreign buyer. Foreign buyer s agent commission and inspection costs are expenses which STC incurs on behalf of the foreign buyers and pays to the agents concerned. The assessee s turnover, in our view, would be only the net amount which is received by the assessee in terms of clause 13 of the aforesaid letter/agreement. In our view, therefore, the authorities below were right in excluding the aforesaid amounts while determining the assessee s turnover for the purposes of section 80HHC. We uphold their findings. 9. Ground Nos. 7 and 8 were not pressed before us and are, therefore, rejected. 10. No other point was raised before us. 11. In the result, the appeal is dismissed.
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1988 (6) TMI 72 - ITAT DELHI-C
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... ... ..... sment year to which the case pertained. So far as the present case is concerned, the assessee has earlier filed return declaring income of Rs. 26,160 and had later on moved a petition for settlement conceding that he had a much larger income and agreeding to be assessed thereon. Therefore, the proof of concealment was contained in the assessee s own admission that he had, during the accounting year, earned the income on which he agreed to be assessed. No further proof was in our view, necessary and therefore, on merits we agree with the Revenue and hold that it was established that while furnishing the return of income declaring an income of Rs. 26,160, the assessee had concealed the particulars thereof. Therefore, penalty could properly be levied on the assessee. 12. In view of our finding that the levy of penalty is invalid, the assessee s appeal deserves to be allowed. The appeal, is, accordingly, allowed. The penalty levied on the assessee under s. 271(1)(c) is cancelled.
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1988 (6) TMI 71 - ITAT DELHI-C
Revision Of Order, Order Prejudicial To Interests Of Revenue ... ... ... ... ..... found fault with the impugned assessments on the ground that the wholesale purchasers who made the contributions for advertisement and publicity had no control over the same and had not even a say as to how the money provided by them would be sent. According to him, a situation cannot be ruled out when some of them may be required to provide money even when the cigarettes sold by them are not advertised at all . In our considered opinion, such observations not based upon the facts of the case can only qualify as a high profile surmise and do not in any way show that the orders made by the assessing officer were erroneous or prejudicial to the interests of revenue. 36. On consideration of the entirety of the facts and circumstances of the case, we are of the opinion that the assessments were in accordance with law and were not erroneous so as to be prejudicial to the interests of revenue. The Commissioner, therefore, had no jurisdiction to make impugned order. It is cancelled.
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1988 (6) TMI 70 - ITAT DELHI-B
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... ... ..... hich is prejudicial to the Revenue if it is a non-speaking one as are the assessment orders in the case before us. It has been repeatedly held that an ITO is an investigator, prosecutor and a judge while dealing with the assessee. In his last role he has to hold the balance right between the assessee and the Revenue and, therefore, while passing an assessment order it is his duty to record findings in a speaking manner. If that is not done the order would be erroneous and prejudicial. 13. IN view of our observations made above, we are in agreement with the CIT that the assessment orders in question were passed by the ITO without making proper enquiries in undue haste and without recording speaking findings. The assessment orders were, therefore, erroneous and prejudicial to Revenue and the Commissioner was within his jurisdiction to set them aside and direct the ITO to proceed afresh with the returns filed on behalf of the trust. The present appeals are accordingly dismissed.
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1988 (6) TMI 69 - ITAT DELHI-B
Limitation Period, Reference ... ... ... ... ..... -tax, Central Circle, Delhi was not a valid service and it is only the service of the Commissioner of Income-tax, Patiala on 5-5-1987 was the valid service has to be accepted in view of the fact that it is that Commissioner who had authorised the appeal and it is an Officer under his jurisdiction who had filed the appeal and had been communicated to the Tribunal that the jurisdiction was with that Officer. This fact had been conveyed to the Tribunal by the assessee himself and the fact of the change of jurisdiction had also been noted by the office of the Tribunal. In such a situation, the order of the Tribunal has correctly been served on the Commissioner of Income-tax,Patialaand the limitation will run only from that date and not from the earlier date when the copy of the order had been sent to the Commissioner of Income-tax,Central Circle,Delhi. The plea of the respondent is, therefore, rejected. 12. to 15. These paras are not reproduced here as they involve minor issues.
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1988 (6) TMI 68 - ITAT DELHI-B
Valuation Of Gift, Leasehold Land ... ... ... ... ..... tive conditions which totally prohibited the sale, transfer, assignment or otherwise dealing with this property in whole or in part in any manner except with a member of the society i.e., the property was not open to sale in an open market to a non-member. It is also clause 6 provided for the same kind of restrictions. this is thus a case where there is severe restriction on transfer and a prohibition on sale. It cannot therefore be said that the facts of this case are different from the facts obtaining in the case of Smt. Promila Bali. The learned Judicial Member, therefore, is not right in his view that the facts of Smt. Promila Bali case are distinguishable and that it contained a covenant of total prohibition on transfer. I am, therefore of the opinion that the value of the plot of land in question should only be Rs. 22,625 as held by the learned Accountant Member. 5. The matter will now go before the regular Bench for disposal of the appeal according to majority opinion.
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