|
Advanced Search Options
Case Laws
Showing 161 to 180 of 318 Records
-
1990 (7) TMI 159 - ITAT CHANDIGARH
Assessment Proceedings, Original Assessment, Reassessment Proceedings ... ... ... ... ..... er even in the statement recorded behind the back of the assessee, he confirmed having advanced the loan to the assessee but the Income-tax Officer ignored all this material and has based his reassessment proceedings on the statements of three persons, namely, S/Shri Sant Ram, Lachhman Dass and Subhash Chander, to cross examine whom the assessee was not given an opportunity and hence in view of the decision of the Punjab and Haryana High Court in the case of Sham Lal, the reassessment proceedings are annulled. 10. Finally speaking, on all the three counts the appellant succeeds and we hold that since the initiation of reassessment proceedings is not valid, they are cancelled. On merits, since it cannot be said that the credit in the name of Shri Bansal is not proved, the addition of Rs. 25,990 is deleted. Further, since the reassessment has been framed in violation of principles of natural justice, it is annulled. 11. In the result, the appeal filed by the assessee is allowed
-
1990 (7) TMI 158 - ITAT CALCUTTA-B
Appellate Assistant Commissioner, Assessment Order, Refund Of Tax ... ... ... ... ..... held where in an appeal to the AAC against the assessment order, the only point taken by the assessee was that interest under section 214 had not been properly granted, the appeal was competent. Further, the judgment of the Hon ble Supreme Court in Central Provinces Manganese Ore Co. Ltd. s case was not brought to the notice of the Bench which decided the case of Shree Hanuman Iron Works. In the circumstances, we hold that the CIT(A) was not correct in holding that the ground of appeal raised by the assessee before him in the matter of non-granting of interest under section 214 for the assessment year 1981-82 was not an appealable issue. We hold that the said ground is appealable. We, accordingly, direct the ITO to look into the assessee s grievance of non-granting interest under section 214 for the assessment year 1981-82 and dispose of the same as per law after affording the assessee a reasonable opportunity of being heard. 18. In the result, the appeals are partly allowed
-
1990 (7) TMI 157 - ITAT BOMBAY-D
Capital Gains, Set Off, Short-term Capital Loss ... ... ... ... ..... Court in Distributors (Baroda) (P.) Ltd. s case and on the observations of the Supreme Court in Cambay Electric Supply Industrial Co. Ltd. s case reproduced in Distributors (Baroda) (P.) Ltd. s case at page 139. The main principle laid down by the Supreme Court in both these decisions is that one should compute the total income of the assessee in accordance with the provisions of this Act before allowing deduction under Chapter VIA. In the present case, if we take the figure of long-term capital gains without adjustment of short-term capital loss as pet option exercised by the assessee under section 70(2)(i), it will still be income computed in accordance with the provisions of the Act, and even within the ratio of these two Supreme Court decisions, in our opinion, the assessee would be justified in claiming deduction u/s 80T against the figure of long-term capital gains without the adjustment of short-term capital loss. 9. In the result, the departmental appeal is dismissed
-
1990 (7) TMI 156 - ITAT BOMBAY-C
Late Filing ... ... ... ... ..... er than the total delay of which a part is explained and the other part is unexplained. 13. We may hasten to add that we are not considering a case in which a part of explained delay (chronologically speaking) is sandwiched between two parts of unexplained delay. Different considerations may apply to such a case as, for example, the department may claim that the existence of the alleged reasonable cause for the sandwiched part of explained delay is merely incidental because even after the end of that cause return had not been filed. Be that as it may, we are not expressing any opinion on that aspect because it is not involved in the case before us. 14. Thus, the penalty has to be quantified in respect of the unexplained part of delay from, 1-10-1979 to 24-1-1981 (i.e., upto the date of heart attack) and that makes 15 complete months. The exact quantification of penalty would be done by the Assessing Officer. 15. For statistical purpose, the appeal is treated as partly allowed
-
1990 (7) TMI 155 - ITAT BOMBAY-B
Account Books, Assessing Officer, Original Assessment ... ... ... ... ..... e circumstances of the case and in law, the learned CIT(A) has passed the order on its own merits and considering an the relevant facts, which the ITO had erred in omitting from consideration all the relevant facts. 2. Without prejudice to above the learned CIT(A) should have annulled the assessment, since it was based on irrelevant considerations and further he ignored the vital and relevant evidence from his consideration. 3. That the additions made by the ITO was nulf and void as the same were based on suspicions, conjectures and surmises and further by ignoring the vital and relevant evidence resulting in as void orders. Obviously, ground No. 1 is only for supporting the order of the CIT(A). Ground No. 2 cannot also be upheld because it was not a case for annulment of assessment. Ground No. 3, again, cannot be allowed because question of quantification of additions and disallowances is yet to be decided by the CIT(A). 11. Assessee s cross-objection is treated as dismissed
-
1990 (7) TMI 154 - ITAT BOMBAY-A
... ...
... ... ..... able as a deduction, but will be allowed only upon the satisfaction of the officer that it is a reasonable payment when considered in the light of cls. (a) to (c) of the second proviso. After consideration of these clauses and after perusal of the agreement with the workers, we are satisfied that the Addl. bonus so paid satisfies the conditions in cls. (a) to (c) of the second proviso to s. 36(1)(ii). We would, therefore, modify the order of the CIT(A) and direct that bonus of Rs. 87,839 paid by the assessee company to its employees in terms of the aforementioned agreement be allowed. In the result, the assessee s appeal is treated as allowed in part. 19. In the result, ITA No. 317(Bom)/84 for asst. yr. 1976-77 by the assessee is allowed ITA No. 5654(Bom)/85 for asst. yr. 1982-83 by the department is allowed in part ITA No. 4707(Bom/87 for asst. yr. 1983-84 by the department is allowed in part and ITA No. 4548(Bom)/87 for asst. yr. 1983-84 by the assessee is allowed in part.
-
1990 (7) TMI 153 - ITAT BOMBAY-A
Immovable Property, Income From House Property, Movable Property, Retrospective Effect ... ... ... ... ..... tal Representative that the ITO received the definite, complete and concrete information only subsequent to the completion of the original assessments under section 143(3) and he was, therefore, fully justified in initiating proceedings under section 147(b) of the IT Act. In any case, even the possession of the information contained in Note 16 could possibly be alleged only in relation to the assessment year 1983-84 and not in relation to the earlier two years. Regarding those two years no such information was in the possession of the ITO during the course of the original assessment proceedings. No material has been produced before us to show that such information was made available to the ITO during the original assessment proceedings for those two years. 13. As a result of the above discussion, we hold that the assessee-appellant has failed to make out any case for our interference in the impugned order of the learned CIT(A). These appeals thus fail and are hereby dismissed
-
1990 (7) TMI 152 - ITAT BOMBAY-A
Deduction Of Interest, From Other Sources ... ... ... ... ..... ver for earning dividend income. I have carefully gone through the decision reported in 100 ITR 67 and I entirely agree with the stand taken on behalf of the Revenue that it has no application to the facts and circumstances obtaining the instant case. In their subsequent decision Smt. Zubedabai s case, the Hon ble Bombay High Court has clearly noted that their decision in H.H. Maharani Shri Vijaykuverba Saheb of Morvi s case has gone in favour of the assessee, as the estate duty liability was attached to the property which was the subject-matter of the trust. However, in the instant case it was the duty of the assessee and his brother to hand over the amounts to their sisters as per the will of their late father. As they had failed to do so, they were required to pay interest which has no connection in earning of the dividend income. In this view of the matter, I have no hesitation in upholding the action of the IT authorities. 11. In the result, all the appeals are dismissed
-
1990 (7) TMI 151 - ITAT ALLAHABAD-B
... ...
... ... ..... ot in the proper form. It should have been in Form F, whereas it has filed in Form No. 36. The Tribunal, instead of rejecting the appeal straightaway, gave an opportunity to the appellant to file the appeal in the proper form vide its order dt. 28th June, 1989, when the appellant was required to file the appeal in correct form upto 14th Aug, 1989. The form was not filed within time. On 11thg June, 1990, one more opportunity was given to file the appeal in the correct form on or before 26th June, 1990. This opportunity has again not been availed of by the Revenue. The request of the learned D.R. to grant one more opportunity to the appellant does not appear to us to be reasonable, in view of the time already granted. Therefore, the request of learned D.R. to grant further time is hereby rejected. 3. That leaves with us the appeal of the Department filed in the wrong form. Such appeal cannot be processed and disposed of. As such, under r. 12, we reject the departmental appeal.
-
1990 (7) TMI 150 - ITAT AHMEDABAD-C
... ...
... ... ..... t and proper in the facts and circumstances of the case. In the paper book we find that the three sub-contractors appear to have agreed to take up the work from the assessee-firm on the clear understanding that payments to them, as and when needed, shall have to be made in cash as they would be requiring cash for payment to the labourers who were executing the work on site. The site of the work was admittedly at about 12 Km. away from the place where bank facilities were available to the parties. Looking to the nature of the business of the assessee-firm, the insistence of the sub-contractors who received payments in cash in order to enable them to pay cash to the labourers on site, the provisions of r. 6DD(j) r/w the Circular of the Board applies for the benefit of the assessee-firm. We, therefore, confirm the order of the CIT(A) on this ground. 29. In the result, the assessee s appeal is allowed in full but Revenue s appeal is allowed in part to the extent mentioned above.
-
1990 (7) TMI 149 - ITAT AHMEDABAD-C
... ...
... ... ..... ntered into by those entities as non-genuine, fake and bogus and that too without hearing them. For these reasons we accept both the first two grounds in the appeal for this year. 25. In ground No. 3 and 4 the company has, in effect, objected to the action of the ITO in substituting the sale price of gold bonds sold at Rs. 22,75,500 for Rs. 13,72,500 at which those were actually sold. The objection is certainly acceptable. The ITO had no such jurisdiction in this case so as to act under s. 52(2) of the Act. Gold bonds were not capital assets as per definition of the term in s. 2(14)(iv) of the Act. Moreover, the action of the ITO to treat the difference of Rs. 9,03,000 (Rs. 22,75,500 minus Rs. 13,72,500) as deemed gift contradicts his action of treating the same amount as company s income for the year under consideration. Both the grounds are, therefore, allowed. 26. In the result, both the appeals are allowed and the additions/disallowances made in each of the years deleted.
-
1990 (7) TMI 148 - ITAT AHMEDABAD-C
... ...
... ... ..... on to the WTO to determine the value of the property as also the nature of the land in question. The question of additional WT was never taken up by the Commissioner while passing the order although there was a reference in para-2 of the show-cause notice. The subsequent order of the Tribunal dt. 2nd May, 1981 setting aside the order under s. 25(2) also referred to these two aspects and once again there was no reference to the question of additional WT. We also find on a perusal of the subsequent correspondence addressed by the Commissioner to the appellant on 11th Aug., 1983 and 16th Feb., 1984 that there is no reference to the question of additional WT. In this view of the matter we unable to uphold the order passed by the Commissioner under s. 25(2) inasmuch as the revision carried out by him is outside the scope of the proceedings initiated and finalised by this predecessor and which subsequently came up before the Tribunal. The order is quashed. 4. The appeal is allowed
-
1990 (7) TMI 147 - ITAT AHMEDABAD-C
... ...
... ... ..... ity of the expenses incurred by the assessee on repairs of hotel building should be considered. It is an undisputed fact that no new room or new building was constructed by the assessee. It is common experience that a hotelier has to maintain its hotel building in most up-to-date and attractive condition. With the changing demand of the tourists and in order to attract more customers they have to incur necessary expenditure for beautification and for proper decoration of the hotel building. Such expenses incurred by the assessee enables them to carry on their business more efficiently and profitably. We are, therefore, of the considered opinion that the entire expenses incurred by the assessee for repairs are allowable as business revenue expenditure under s. 30 and in the alternative under s. 37 of the IT Act, 1961. We, therefore, direct the ITO to allow deduction of the entire amount of expenditure claimed by the assessee. 6. In the result the assessee s appeal is allowed.
-
1990 (7) TMI 146 - ITAT AHMEDABAD-C
Cinema Theatre, Grant Of Depreciation ... ... ... ... ..... onsidered the electricity system as an integrated whole, the expenditure incurred upon which was required to be as such and there was no scope for dissecting the electrical system into different component part for each of the rooms and working out depreciation under the proviso to section 32(1)(ii) of the Act accordingly. Obviously such are not the facts in the case before us. As has been pointed out above each and every chair in a cinema theatre make an independent unit and can easily repaired, replaced or removed without affecting the system of arrangement of the adjoining or other chairs. Even in the case cited supra, the Madras High Court appears to have appreciated this aspect when it observed that the commodes, seat covers etc. in each room would not go to make an integrated sanitary system. Thus the ratio of the decision of the Madras High Court also supports our view to some extent. 8. In the result, the order of the Commissioner is set aside and the appeal is allowed
-
1990 (7) TMI 145 - ITAT AHMEDABAD-C
A Partner, Business Expenditure, Capital Reserve, Deduction In Respect, Gold Bonds, Investment Company, Partnership Firm, Provident Fund
-
1990 (7) TMI 144 - ITAT AHMEDABAD-C
Capital Gains, Cost Of Acquisition, Gold Bonds, Investment Company, Loss On Sale, Market Value, Short-term Capital Loss
-
1990 (7) TMI 143 - ITAT AHMEDABAD-C
Cinema Theatre, Grant Of Depreciation ... ... ... ... ..... onsidered the electricity system as an integrated whole, the expenditure incurred upon which was required to be as such and there was no scope for dissecting the electrical system into different component part for each of the rooms and working out depreciation under the proviso to section 32(1)(ii) of the Act accordingly. Obviously such are not the facts in the case before us. As has been pointed out above each and every chair in a cinema theatre make an independent unit and can easily repaired, replaced or removed without affecting the system of arrangement of the adjoining or other chairs. Even in the case cited supra, the Madras High Court appears to have appreciated this aspect when it observed that the commodes, seat covers etc. in each room would not go to make an integrated sanitary system. Thus the ratio of the decision of the Madras High Court also supports our view to some extent. 8. In the result, the order of the Commissioner is set aside and the appeal is allowed
-
1990 (7) TMI 141 - ITAT AHMEDABAD-C
Account Books, Income From Undisclosed Sources, Levy Of Penalty, Sales Tax ... ... ... ... ..... e sales-tax authorities with regard to its purchases and sales and that due deduction for sales-tax liability be given to it. The only objection that Part III of the return was not meant for such a purpose hardly carries weight with us. In the matter of penal liabilities the substance and not the form should dictate decisions. 29. To sum up, after having considered the facts of the instant case and the material brought on our record, we are clearly of the opinion that the assessee had satisfactorily proved that the concealed income had not resulted from any fraud or gross or wilful neglect on its part. Thus, the onus that stood shifted to the assessee by virtue of application of the explanation to section 271(1)(c) had been, in our considered opinion, satisfactorily discharged by the assessee. Under these circumstances, therefore, the penalty imposed is not sustainable. 30. In the result, the order under appeal is set aside, the penalty levied cancelled and the appeal allowed
-
1990 (7) TMI 140 - ITAT AHMEDABAD-A
... ...
... ... ..... IT(A) had thought it proper to delete the addition. It could not be disputed before us that the assessee firm had placed all the relevant details of the expenditure in question before the ITO. In our opinion, the finding recorded by the CIT(A) on this point is also sustainable. We, therefore, dismiss this ground too. 4. C.O. of the assessee (C.O. No. 34/88) The assessee is in cross-objection against the addition of Rs. 5,000 being alleged sale of empty containers of colour chemicals. It could not be satisfactorily explained before us as to what the assessee does with the empties of the colour containers. Looking to the total turnover of the assessee and the quantity of consumption of colour and chemicals, the addition of Rs. 5,000 on account of sale of empty containers of colour chemicals seems to be quite reasonable and proper. We, therefore, find no force in the cross-objection. 5. In the result, the Revenue s appeal as well as the assessee s cross-objection are dismissed.
-
1990 (7) TMI 139 - : ITAT AHMEDABAD-A
Being Heard, Capital Gains, Civil Court, Hotel Building, Reference To Valuation Officer, Tax Authorities
............
|
