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Case Laws
Showing 141 to 160 of 283 Records
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1989 (2) TMI 144 - ITAT DELHI-A
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... ... ..... efore him. It was stated before us by the learned Authorised Representative that the assessee in the instant case had completed the age of 65 years and was exempted from making compulsory deposit under sub-s. (3) of s. 3 of the CDS Act, 1974. But since the assessee was not given a reasonable opportunity of being heard on the point she was disabled from making such plea before the ITO or the learned CIT(A). We feel that there is sufficient force in this contention of learned Authorised Representative. For this reason, we feel that the matter needs to be restored to the ITO with the direction to examine the question as to whether the assessee was liable to make compulsory deposit under the 1974 Act and pass appropriate consequential order in conformity with his finding thereon. 5. In the result, this appal by the assessee is partly allowed. The appeal on the first two grounds is dismissed but is allowed in relation to the third ground with the direction to the ITO as aforesaid.
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1989 (2) TMI 143 - ITAT DELHI-A
Assessment Order, Assessment Year, Cash Credits, Orders Prejudicial To Interests ... ... ... ... ..... icer. We do agree that the learned Commissioner while asking the Income-tax Officer to make a fresh assessment, could not express any final opinion as regards the controversial points. In this regard the decision of the Hon ble Gujarat High Court in the case of Mukur Corpn. is relevant. Therefore, it is made clear that even though in Para 11 of the impugned order, the learned Commissioner has set aside the assessment to be made afresh from the stage of return after affording an opportunity of being heard to the assessee and also keeping in view the directions and discussions contained in his order, the opinion of the learned Commissioner as to the genuineness of the two cash credits would not prejudice the Income-tax Officer and he shall be free to come to his own conclusion as a result of the further enquiries. With these observations the appeal of the assessee must fail and be dismissed. 6. The appeal accordingly fails and is dismissed subject to what has been stated above.
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1989 (2) TMI 142 - ITAT DELHI-A
Accounting Year, Assessment Year, Bona Fide, Capital Employed, Prejudicial To The Interests Of Revenue, Statutory Deduction
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1989 (2) TMI 141 - ITAT DELHI
Account Books, Assessing Officer, Assessment Proceedings, Assessment Year, Unexplained Cash Credits
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1989 (2) TMI 140 - ITAT COCHIN
Assessment Year, Closing Stock, Penalty Proceedings, Time Limit For Completion ... ... ... ... ..... concealment of income. 23. As a result of the foregoing discussion, in the end, our finding is that on the facts of the case, the provisions of sec. 153(1)(b) became applicable and as such the time limit of eight years from the end of the assessment year in which the income was first assessable, was available to the department. As such, the assessment which had been completed on 30-7-1983 was not barred by limitation. We set aside the finding of the CIT(A) that the assessment was bad in law, having been made beyond the expiry of the time prescribed for the making of the assessment. 24. The CIT(A) had not dealt with the various other grounds raised by the assessee, since he was annulling the assessment. We now direct the CIT(A) to deal with the other grounds raised by the assessee in his appeal before him. For this purpose, we set aside the order of the CIT(A) and restore the appeal to his file for disposal on merits. 25. In the result, the appeal of the department is allowed.
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1989 (2) TMI 139 - ITAT CALCUTTA-E
Assessment Year, Business Loss, Income Tax, Investment Company, Speculation Loss, Undistributed Profits
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1989 (2) TMI 138 - ITAT CALCUTTA-B
Assessment Year, Double Taxation Relief, Foreign Project, Gross Total Income, Mercantile System, Previous Year, Profits And Gains
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1989 (2) TMI 137 - ITAT BOMBAY-D
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... ... ..... r. 1985-86 is directed against levy of interest under s. 139(8) and 215. On a careful reading of the ground, namely, ground No.16 it is seen that the assessee is not denying its liability in respect of levy of interest under s.139(8). Such a ground, therefore, cannot be taken in appeal in view of the decision of the Supreme Court in Central Province Manganese Ores Co. Ltd. vs. CIT (1986) 58 CTR (SC) 112. In our opinion, the IAC s decision in this regard confirming the levy of interest of Rs. 59,921 under s. 139(8) and Rs. 6,79,107 under s. 215 has to be confirmed on this preliminary ground itself. The CIT(A) has said that no specific mistake in the IAC s computation of interest has been pointed out. If there is any variation in the quantum of total income as a consequence of the appellate order, there will be consequential variation in the quantum of interest leviable under these sections. 42. In the result, all the appeals of the assessee will be treated as allowed in part.
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1989 (2) TMI 136 - ITAT BOMBAY-D
Assessment Year, Previous Year, Technical Services ... ... ... ... ..... ar as they relate to the Nangal Expansion Project, we will confirm the conclusions reached by him for the reasons other than those mentioned by him in the body of the order. In the result, both the appeals of the department are dismissed. 12. We will now turn to the cross objections of the assessee. In the cross objections the assessee has stated that the CIT (Appeals) has not dealt with other issues like levy of interest under section 217 and the assessee submits that in case the Tribunal comes to the conclusion different from the one arrived at by the learned CIT (Appeals), then the other grounds not adjudicated upon by the learned CIT (Appeals) will have to be looked into and for the examination of these grounds the matter may be sent back to the CIT (Appeals). 13. Since we have confirmed the order of the CIT (Appeals) on the main issue, we do not think the issues raised in the cross objections survive for our consideration. Consequently the cross objections are dismissed.
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1989 (2) TMI 135 - ITAT BOMBAY-C
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... ... ..... se of Nila Products Ltd., again, the Bombay High Court held that surrender of tenancy rights in respect of factory sheds in exchange of ownership of flats in new building cannot be taxed. Similarly, the Delhi High Court in the case of Bawa Shiv Charan Singh held similar view. In the case of Markapakula Agamma the Andhra Pradesh High Court held that where compensation is received on compulsory acquisition of land by the Government cannot be included in the taxable income under s. 45. Therefore, respectfully following these decisions of the Bombay High Court, Delhi High Court and Andhra Pradesh High Court, we are of the opinion that the amount received by the assessee on account of surrender of tenancy rights is not exigible to tax as capital gains under s. 45 of the IT Act. We therefore, set aside the order of the CIT(A) on this ground and direct the ITO to exclude this amount from the taxable income of the assessee. 8. In the result, appeal of the assessee is hereby allowed.
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1989 (2) TMI 134 - ITAT BOMBAY-B
Assessment Year, Business Loss, Carry Forward And Set Off ... ... ... ... ..... , contrary contained in sections 28 to 43A of the Act, computation under section 44B has to be taken as net--profits and gains and deductions provided for under sections 28 to 43A do not come into play. The net result is that under Chapter IV-D the measure of computation provided in section 44B becomes the net but other Chapters in the Act do not stand excluded. Naturally Chapter VI of the Act, which deals with the topic, aggregation of income and set off or carry forward of loss has to be taken note of and these provisions do not get excluded. 4. Set off, or carry forward and set off has been discussed in sections 70 to 80 of the Act and in this view of the matter, these provisions have to be applied in the case of a non-resident also when profits and gains of shipping business is computed as is provided for in special provision--viz. section 44B of the Act. We hold and direct accordingly. As held by my learned brother in his proposed order, the appeals stand allowed partly.
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1989 (2) TMI 133 - ITAT ALLAHABAD-B
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... ... ..... d there were common partners. It also held that the concept of partnership is one of agreement between the partners. If the partners agreed not that one partner should go out and another should come in, but that on a particular event the firm should be treated as dissolved, they are entitled to say so and what the partners have disrupted, it is not for the Department to unite unless there is specific authorisation in the Act. These reasonings of the Delhi High Court met with approval by the Hon ble Supreme Court in Wajid Ali Abid Ali vs. CIT (1988) 67 CTR (SC) 43 (1988) 169 ITR 761 (SC). 9. Applying the principles laid down in the above mentioned decisions, we find it difficult to uphold the orders of the authorities below. The facts of the case lead us to the conclusion that the old firm stood dissolved w.e.f. 1st April, 1981. That being so, two separate assessments should be framed as claimed by the assessee. We direct accordingly. 10. In the result, the appeal is allowed.
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1989 (2) TMI 132 - ITAT AHMEDABAD-B
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... ... ..... essee can be penalised under s. 18(1) (a) until and unless it is also proved that he had either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest or acted in conscious disregard of his obligation. Until and unless these factors are proved against an assessee, he cannot be penalised under s. 18(1) (a) for filing the return late. 9. Judged in the light of the principles laid down to the above effect by the Gujrat High court in the case of CIT vs. I.M. Patel and reiterated in the case of Himatlal Mathurdas, as also the decision of the same High Court in the case of CIT vs. V. Shantilal and Co., we feel satisfied that the learned AAC has cancelled penalties in all these cases on very good grounds. We therefore, find no cogent reasons to disturb his consolidated order under appeal. 9A. In view of the above, we see no necessity of deciding alternate argument of Mr. Panjawani. 10. In the result, all these appeals fail and are hereby dismissed.
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1989 (2) TMI 131 - ITAT AHMEDABAD-B
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... ... ..... of all the relevant facts and circumstances established in the particular case . The aforesaid observations fortify the view that we have taken that it is the totality of the facts and circumstances that have to be taken into account and not a solitary act on the part of the assessee such as sub-plotting of the land as in the present case and nothing else. The decisions of the Tribunal relied upon are also not applicable as they are rendered on the facts of those cases. 17. In the final analysis we uphold the order of the CIT(A) confirming the taxability of the transaction in question under the head capital gains . We also reject the plea put forward by the learned counsel to send the matter back to the ITO for determining the market value of the property since we do not find any such dispute remaining unsolved in the orders of the lower authorities. Even a specific ground has not been raised before the Tribunal in this direction. 18. In the result, the appeal is dismissed.
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1989 (2) TMI 130 - ITAT AHMEDABAD-B
Acquisition Proceedings, Immovable Property, Land Acquisition, Movable Property, Right To Receive Compensation, Wealth Tax
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1989 (2) TMI 129 - ITAT AHMEDABAD-A
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... ... ..... d have as well ascertained from the IT records the period for which the machineries were held and come to the conclusion whether the resultant gains were long term capital gains or not. However, he submitted that except one item of sale of control penal made on 1st Sept., 1978 which was less than three years old, the rest of the machineries were held for more than three years. However, he had no objection if the matter is restored to the ITO for fresh adjudication. The learned Departmental Representative has also no objection for reappraisal of the matter regarding capital gains. 19. In view of the situation in which the ITO could not decide the issue properly for want of particulars regarding dates of acquisition of machineries, we set aside the order of the Commissioner(A) on this point and restore the matter to the file of the ITO for fresh adjudication, after considering the evidence adduced by the assessee in this regard. 20. In the result, the appeal is partly allowed.
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1989 (2) TMI 128 - ITAT AHMEDABAD-A
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... ... ..... motive of avoiding of payment of legitimate taxes. Having arrived at that conclusion it was most appropriate on the part of the learned Commissioner to have asked his ITO to search out the person, if need be, who was the actual recipient of the income earned in these cases and assess the income in his hands. That was a direction which the learned Commissioner could have legitimately given to the ITO, in the facts and circumstances of the case and the position of law applicable thereto, which we have discussed in sufficient detail. 44. We however agree with Mr. Patel that the learned Commissioner should not have passed any remarks about the conduct or character of Mr. Harish Patel with regard to his involvement in the creation of the trusts in question. We therefore, direct expunction of such remarks by the learned Commissioner from paras 9 and 10 of his order under appeal. 45. In the result, we find not the least force in any of these appeals and dismiss all of them as such.
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1989 (2) TMI 127 - HIGH COURT OF JUDICATURE AT BOMBAY
Writ jurisdiction ... ... ... ... ..... n granting this chamber summons because the correctness or otherwise of the order passed by the Tribunal will have to be examined at the time of the final hearing of the petition. This is so especially because pursuant to an order passed by this Court the petitioners have furnished Bank guarantee for the amount which is held to be now due to the Department. 3. Mr. Rege for the respondent has opposed the chamber summons by contending that the amendment is not necessary at all for the disposal of the writ petition and secondly that the chamber summons has been taken out belatedly. For the reason s mentioned above, I reject the first of the contention of Mr. Rege and as far as the second contention is concerned, I am of the opinion that the delay in the instant case is not such that one should throw out the proposed amendment. 4. In the result, the chamber summons is made absolute in terms of prayer clauses (a) and (b). Amendments to be carried out within four weeks from today.
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1989 (2) TMI 126 - HIGH COURT OF JUDICATURE AT BOMBAY
Prosecution - Disposal of property pending trial ... ... ... ... ..... her I should deal with the merits of the application. But I do find certain difficulty in going into the merits of the case as all facts are not on record. I, therefore, suggested to the Advocates on either side, that the best course would be to have the order set aside and respondent No. 1 could prefer a separate application and the learned judge concerned shall then deal with the matter on the merits of the case. Happily there has been a consensus on this. I, therefore, pass the following order The impugned order dated March 9, 1988 passed by the learned Magistrate is hereby set aside. I give liberty to respondent No. 1 to prefer a separate application in the Court of Sessions where the case has been committed. On such application being filed, it is open to the prosecution to file a proper affidavit and rely on such documents as they think proper. The learned Sessions Judge will decide the matter on merits, after hearing both the parties. Rule is made absolute accordingly.
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1989 (2) TMI 125 - HIGH COURT OF KERALA
Appeal - Pre-deposit of duty of penalty pending appeal - Right of appeal not absolute but conditional
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