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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat allahabad Year: 2004 Page 1 of about 4 results (0.094 seconds)

Jun 30 2004 (TRI)

The Acit, Range-ii Vs. Baldev Plaza

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Jun-30-2004

Reported in : (2005)93ITD579(All.)

..... the mumbai bench of the i.t.a.t. in the matter of smt. saranga aggarwal, sot-307 (mumbai) held : "section 147 of the income-tax act, 1961-income escaping assessment- position prior to 1.4.1989-assessment year 1986-87-assessing officer made reference to d.v.o. subsequent to completion of assessment and ..... of his statutory functions. he cannot be called upon, nor would he have the jurisdiction, to give a report to the assessing officer under the income-tax act except when a reference is made under and in terms of section 55a or to a competent authority under section 269l." the hon'ble supreme court ..... since there was no other material on record available with the ao, therefore, the ao was not justified in initiating proceedings under section 147 of the income-tax act.13. the ld. counsel for the assessee with regard to maintainability of the cross objection, argued that the cross objection is in the nature of ..... the d.v.o., kanpur valid and in accordance with law, therefore, such material could be used for initiating proceeding under section 147/148 of the income-tax act. the ld.d.r. relied upon the following decisions in support of his contentions : 12. on the other hand, the ld. counsel for the ..... made. to known the cost of the construction, the case was referred to the departmental valuation officer, kanpur under section 131(1)(d) of the income-tax act, 1961 who after inspecting the complex on 21.3.1999 and after considering the objections of the assessee, submitted report to the ao. the d. .....

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Feb 13 2004 (TRI)

Assistant Commissioner of Income Vs. Fertilizer Traders [Alongwith

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Feb-13-2004

Reported in : (2004)83TTJ(All.)473

..... . mahalaxmi sugar mills co. ltd. (supra), held-- "there is duty cast on the ito to apply the relevant provisions of the indian it act for the purpose of determining the true figure of the assessee's taxable income and the consequential tax liability. that the assessee fails to claim the benefit of set off cannot relieve the ito of his duty to apply section ..... ., 2001 as, according to him, the block assessment order was erroneous and prejudicial to the interests of revenue as the computation of undisclosed income was not properly done by the ao. the cit (central), kanpur ultimately passed the order under section 263 of the it act on 28th march, 2001 setting aside the block assessment order and directing the ao to recompute the undisclosed ..... .2. ita nos. 304 & 305/all/2002 by both the assessees are directed against different orders of the cit(a)-i, kanpur dt. 14th aug., 2002 passed under section 158bc/154 of the it act, 1961.3. in both the cases of the assessees, undisclosed income was computed and thereafter it was bifurcated in the case of both the assessees percentage wise on the ..... tribunal in the case of control touch electronics (pune) (p) ltd. v. asstt. cit (supra) to the effect that, if any income is not taxable by virtue of any provision of the act, then it cannot be taxed merely because it was offered by the assessee in his return of income and there cannot be any such estoppel against statute. 12. it is observed that .....

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Jan 12 2004 (TRI)

Broswel Pharmaceutical Inc. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Jan-12-2004

Reported in : (2004)83TTJ(All.)126

..... convenience in his favour." we may further mention that the special bench has observed that the information as required under rule 35a(2) of the income-tax (appellate tribunal) rules is to be furnished in the stay application. ultimately, the special bench of the tribunal held that separate application for ..... adjudicate the following question: "whether single stay application for stay of demand pertaining to different appeals under one enactment is maintainable under rule ;35a of income-tax (appellate tribunal) rules, 1963?" "but in the case of a stay application, the assessee is required as per sub-rule (2) of rule ..... filed the written reply also and argued that the stay petition has been submitted in proforma that has been prescribed in rule 35a of the income-tax (appellate tribunal) rules. it was further submitted that under rule 35a above, it will be seen that the terminology used is "correspondence, ..... ltd. v. crr (2002) 256 itr 423 (gau) held: "the language used in section 254(1) of the it act, 1961, conferring powers on the tribunal is in widest possible terms. the income-tax (appellate tribunal) rules, 1963, framed by the tribunal in exercise of its power under section 255(5) of the ..... act are wholly for the purpose of regulating its own procedure and the procedure of the benches of the .....

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Mar 19 2004 (TRI)

Assistant Commissioner of Income Vs. Mehtab Chand Panna Lal

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Mar-19-2004

Reported in : (2005)93TTJ(All.)470

..... such disallowance was made in earlier years, as such, assessment year is independent and the principles of res judicata do not apply to income-tax proceedings. 2. that, the learned cit(a) while deleting the above disallowances has completely ignored the fact that the disallowances in the aforesaid heads were made on the basis ..... accrued in favour of the assessee on amounts advanced by it to the debtor company, the same could not be aided to the assessee's income. hon'ble allahabad high court considering the above facts and the findings of the tribunal, held that the assessee had stopped charging interest from the ..... accrued to the sister concern. the ao was of the view that no interest is charged deliberately as the assessee avoided the tax liability. the ao accordingly held that the interest income has accrued legally on the debit balance standing in the name of m/s ghanshyam silk sarees through proprietor, ghanshyam das, ..... agreement. the document could be executed on stamp paper for the same purpose at any point of time. no time-limit is provided under the stamp act. similarly, the ao disbelieved the agreement as it was not endorsed by notary. there is no need to get the agreement endorsed by the notary ..... to this sister concern cannot be allowed as business expenditure under section 36(1)(iii) of the it act. the view gets support from the hon'ble supreme court judgement in the case of m.p. jata v. cit 116 itr 205 (sic) and also the jurisdictional high court's decision in the case of .....

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