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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat delhi Year: 1985 Page 1 of about 47 results (0.075 seconds)

Sep 27 1985 (TRI)

Wealth-tax Officer Vs. A.K. Tandon

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Sep-27-1985

Reported in : (1985)14ITD300(Delhi)

..... duty act, 1953 also, repairs should not be allowed at 1/6th. the matter has been referred back by my learned brother to the commissioner (appeals). while deciding ..... both self-occupied and let out and the supreme court's view was that the standard rent under the delhi rent control act had to be kept in view in computing the 'annual value' under the income-tax act, 1961 ('the 1961 act'). it will, therefore, be difficult to ignore this decision of the supreme court and say, categorically, that the concept of standard rent ..... of the delhi rent control act is not applicable at all in wealth-tax proceedings. no doubt, under the act what is to be determined is the market value ..... has clearly held here that in wealth-tax proceedings also 1/6th repairs should be allowed. in fact this was the view of the punjab and haryana high court in dina nath v. ced [1970] 77 itr 193. this was an estate duty case and the court saw absolutely no reason why, following the indian income-tax act, 1922, in valuation under the estate .....

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Mar 28 1985 (TRI)

Abdul Majid Paramjit Singh Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Mar-28-1985

Reported in : (1985)14ITD27a(Delhi)

..... never allowed as a deduction in the earlier years, the question of invoking the provisions of section 41(1) of the income-tax act, 1961 ('the act') and assessing the terminal tax collections in the assessment year 1973-74 did not arise. apart from highlighting these objections, shri g.r. agnihotri, the ..... year 1972-73 and the assessee would be free to challenge the correctness of that action on the part of the income-tax authorities, we are of the view that there is sufficient legal justification available for the action which has been taken by the authorities for bringing ..... contended on the authority of another decision of the supreme court in the case of cit v. brij lal lohia & mahabir prasad khemka [1972] 84 itr 273 that the principle of res judicata does not apply to income-tax proceedings and that in spite of the finding of the tribunal in the assessment ..... to tax the sum of rs. 56,910 as deemed income under section 41(1) in the assessment year 1973-74. the decision of the hon'ble supreme court in the ..... income, the income had been reduced by the accrual of corresponding amount of liability and where the department is bringing into tax under section 41(1) what had been allowed as a liability or a reduction from trading receipts in the assessment years 1969-70 and 1970-71. whether the allowance of trading liability of terminal tax was an overt or covert act .....

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Aug 19 1985 (TRI)

Shashi Kant Gupta Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Aug-19-1985

Reported in : (1985)14ITD270(Delhi)

..... certain amenities. on those facts, it was held that the provisions of section 56(2)(ii) of the income-tax act, 1961 ('the act') were not attracted. the hon'ble high court further held that income from the letting out was chargeable as 'income from house property'. according to the learned counsel if all the agreements and material on record are appreciated it ..... rs. 5,000 for the furniture and fixtures. the assessee claimed that whole income received under the lease fell under sub-section (4) of section 12 of the indian income-tax act, 1922 and that it should be assessed as income under the head 'income from other sources'. the income-tax authorities disallowed the claim holding that the rent received from the building was assessable ..... under the head 'income from house property' and that the rent received on account of furniture and ..... on the facts and in the circumstances of the case, the income from lease of the property has to be assessed as income from property under section 22 and the income from provision of air-conditioning services would be assessable under the head 'income from other sources' (under section 56 of the income-tax act, 1961) 3. the assessee along with other co-owners acquired .....

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Sep 27 1985 (TRI)

B.R. Singhal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Sep-27-1985

Reported in : (1985)14ITD380(Delhi)

..... refer the case to the president, the tribunal for referring the matter to one or more other members of the tribunal as required under section 255(4) of the income-tax act, 1961 ('the act') : whether, on the facts and in the circumstances of the case, the orders of the lower authorities require to be set aside with the directions as given in paragraph ..... should also be examined. without that it is not possible to know whether the arrangement was genuine. no doubt the owner has to be assessed under the provisions of the income-tax act, but one has also to see the legal effect of any valid subsisting agreement. the ito is, therefore, directed to bring on record all the materials and to give a ..... should also be examined. without that it is not possible to know whether the arrangement was genuine. no doubt the owner has to be assessed under the provisions of the income-tax act, but one has also to see the legal effect of any valid subsisting agreement. the ito is, therefore, directed to bring on record all the materials and to give a ..... the ito contained copious references on this aspect. for the assessment year 1977-78 the original assessment was completed under section 143(1) of the act accepting the declared income by the assessee in the return. subsequently, a tax evasion petition was received by the ito from one shri anil kumar. thereafter the ito made enquiries, first by the ito who made the .....

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Oct 31 1985 (TRI)

Reliance International Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Oct-31-1985

Reported in : (1986)16ITD43(Delhi)

..... profits or gains of business in terms of section 28(i) of the income-tax act, 1961 ('the act'). similarly, bengal textile association's case (supra) dealt with the provisions of business profits tax act, where, again by specific provision of the act, the subsidy was excluded from the purview of business profits tax act, 1947 and so this case could also not be cited as an ..... the hon'ble delhi high court in the case of all india lakshmi commercial bank officers' union (supra). wherein their lordships have clearly laid down as follows : ...the income-tax authorities acting anywhere in the country, however, have to respect the law laid down by the high court, whether of the state in which they are functioning, or of a different ..... purpose of granting cash assistance was understood by the industry also. thus, in its letter dated 11-5-1978, the engineering export promotion council wrote the authorised representative of the income-tax department at calcutta, inter alia, as follows : we would confirm that after devaluation of the rupee, ... the government announced cash assistance scheme for compensation loss to the exporters ..... for the assessec had tried to pursuade us that the above observations applied only to 'income-tax authorities' and not to the tribunal. we, however, do not agree. the reference to the income-tax authorities in the above decision has been made because it were they, who had acted against the above principle. but the said principle is equally valid for the appellate .....

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Jan 31 1985 (TRI)

National thermal Power Corpn. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jan-31-1985

Reported in : (1985)12ITD99(Delhi)

..... .e., the year under appeal, amounts to rs. 22,84,994. this amount was offered for assessment and the assessment has been completed under section 143(3) of the income-tax act, 1961 ('the act'), on 29-12-1980 on that basis.the appeal was filed against the order of assessment. a number of additions/disallowances were challenged. the inclusion of the aforesaid amount ..... high court in the case of anand prasad (supra) that ; in the cases of both the assessee and the department the right of appeal under section 33 of the indian income-tax act, 1922, is the same. there must be an objection to the order passed by the aac. if a point has not been taken before the aac and is not mentioned ..... enquiry..." (p. 236) [hukumchand mills ltd.'s case (supra)] ...under sub-section (4) of section 33 of the indian income-tax act, 1922, the appellate tribunal is competent to pass such orders on the appeal 'as it thinks fit'. there is nothing in the income-tax act which restricts the tribunal to the determination of questions raised before the departmental authorities. all questions whether of law ..... before the ito. reference in this context is also made to the following observations of the supreme court in the case of cit v. manick sons [1969] 74 itr 1 : the power conferred by section 33(4) of the income-tax act, 1922, is wide, but it is still a judicial power which must be exercised in respect of matters that arise in the .....

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Jun 11 1985 (TRI)

Ravi Textile (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jun-11-1985

Reported in : (1986)15ITD49(Delhi)

..... ), new delhi, for the assessment years 1970-71 and 1971-72. two appeals relate to the penalty under section 271(1)0) of the income-tax act, 1961 ('the act') and two to the penalty under section 273 of the act.2. the assessee ravi textile co., 6926, chandrawal road, delhi, is a private limited company. for the assessment years 1970-71 and 1971-72 ..... . it would be useful to have the account between the parties examined in the light of this information now made available. secondly, the entries regarding interest debits noted by the income-tax officer in the assessment order vary from those accorded in the remand report. neither the assessment order nor the remand report states the actual opening and closing balance the assessee ..... . sohanlal dugar [1985] 152 itr 635 (raj.). on the other hand, shri m.m. bharti, the learned departmental representative placed a strong reliance on the orders of the income-tax authorities.he pointed out that the dispute had been restored to the assessing officer, after which he examined the assessee and so the whole of the assessment was to be ..... on behalf of the assessee on merits, that it had reasonable and sufficient cause for not filing the estimate of income liable to advance tax and for not paying such advance tax, as the assessee was wholly unaware of the relevant provisions of the act in this regard. it is not under dispute that the first assessment in the case of the assessee, i .....

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Jun 28 1985 (TRI)

Des Raj Nagpal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jun-28-1985

Reported in : (1985)13ITD800(Delhi)

..... was that capital gains arising on the transfer of the property at west patel nagar, new delhi, was exempt under section 54 of the income-tax act, 1961 ('the act') inasmuch as the assessee had purchased the property at paharganj within one year prior to the date of sale of the property at west patel ..... ] 57 itr 185 at p. 192 their lordships of the supreme court observed that before section 12b of the indian income-tax act, 1922 ('the 1922 act') can be attracted, title must pass to the company by any of the modes mentioned in section 12b, i.e., sale, ..... two years after that date constructed, a house property for the purposes of his own residence, then, instead of the capital gain being charged to income-tax as income of the previous year in which the transfer took place, it shall be dealt with in accordance with the following provisions of this section, that ..... on the date of registration of the said property. the agreement further goes to show that the sale deed will be effective after obtaining the income-tax clearance certificate and the sale permission from the proper authorities. when both the certificates will be granted, then sale deed will be effected within two ..... the sale deed. the agreement to sell provided that the sale deed will be executed by the assessee in favour of the purchasers after obtaining the income-tax clearance certificate and sale permission from the proper authorities. when both the certificates will be granted, then the sale deed will be effected within two .....

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Jul 30 1985 (TRI)

income-tax Officer Vs. Siya Ram Bros.

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Jul-30-1985

Reported in : (1985)13ITD883(Delhi)

..... originally. the point of difference of opinion is ; whether, on the facts and in the circumstances of the case, penalty under section 273(c) of the income-tax act, 1961, was leviable 2. the assessee is a firm of five partners carrying on business on a very extensive scale in automobile spare parts. the turnover in the year was ..... was not justified in cancelling the penalty imposed under section 273(c) of the income-tax act, 1961.2. as the assessee's income exceeded by more than 33 1/3 per cent of the tax demanded under section 210 of the income-tax act, 1961 ('the act'), penalty proceedings under section 273(c) of the act were initiated during the course of assessment proceedings on 28-3-1978. the ..... charge which is mentioned is as under : without reasonable cause failed to furnish an estimate of advance tax payable by you in accordance with the provisions of sub-section (3) of section 18a of the indian income-tax act, 1922, or of section 212(3) of the. income-tax act, 1961, in respect of the assessment year. ...from the above it would appear that the provisions of ..... as follows : whether, on the facts and in the circumstances of this case, penalty under section 273(c) of the income-tax act, 1961, was leviable 1. this is a case referred to me by the president under section 255(4) of the act for my opinion as there was a difference of opinion between the members of the tribunal, who heard this appeal .....

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Oct 24 1985 (TRI)

Commissioner of Income-tax Vs. Sequoia Construction (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Oct-24-1985

Reported in : (1985)14ITD348(Delhi)

..... mysore iron & steel co. ltd's. case itrc no. 171 of 1980 dt. 26-10-1984 followed.1. by the instant reference application under section 256(1) of the income-tax act, 1961 ('the act') the commissioner, requires us to refer the following two questions said to be of law arising out of the order of the tribunal dated 25-11-1983 in it ..... by the learned counsel and we find that decision would squarely apply to the appellant-company also. we accordingly direct the recalculation of the income-tax demand in the case of the appellant on the basis that it was an 'industrial company'.subsequently, a miscellaneous application was filed by the ito before the tribunal by pointing ..... which was engaged in the business of constructing multi-storeyed buildings would be entitled to be treated as an industrial company in view of the special bench decision of the income-tax appellate tribunal dated 20th of october, 1983 in the case of ito v. hydle constructions (p.) ltd. [1983] 6 itd 575 (delhi). that decision had been made available to us ..... where the original order got merged with reassessment order, the original order could not be revised by commissioner under section 263.the reassessment gives the power to the income tax officer to reopen every item of escaped assessment. under these circumstances, the original assessment merges with the final assessment. therefore, the commissioner had no powers to modify the assessment under .....

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