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Judgment Search Results Home > Cases Phrase: customs act 1962 Court: income tax appellate tribunal itat delhi Year: 2014 Page 1 of about 1 results (0.075 seconds)

Jan 31 2014 (TRI)

New JaIn Godowns, Budaun and Another Vs. Ito, Budaun and Another

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jan-31-2014

..... these submissions to arise before the assessing officer during the assessment proceedings and such remittance will ensure the availability of the judicial hierarchy of appeals as made available by the act. 61. in the result, the appeal of the assessee is partly allowed as indicated, whereas the cross objections raised by the department are allowed. the order pronounced in the open ..... various alternative contentions raised by the assessee, we have heard both the parties. in our considered view, the issue of assessability of income under a particular head prescribed by the it act is an issue basically concerned with assessment. the ld. cit, after finding the order passed by the assessing officer to be erroneous and prejudicial to the interests of the revenue ..... the assessment order is erroneous, substitution of the judgement of the commissioner for that of the assessing officer does not stand visualized under the provisions of section 263 of the act:- i) 'cit vs. munjal castings', 303 itr 23 (pandh); ii) 'pradeep bandhu vs. cit', 32 taxman.com 24 (jodhpur-trib); iii) 'general electric international vs. acit', 287 itr 43 (mum ..... as agricultural income; that since the assessment order was erroneous and prejudicial to the interests of the revenue, the ld. cit rightly invoked the provisions of section 263 of the act; that since during the year, the assessee was not carrying on any business activity, interest to partners was rightly disallowed by the ld. cit; and that in these facts, there .....

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