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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat indore Year: 2004 Page 1 of about 10 results (0.067 seconds)

Oct 20 2004 (TRI)

Dewas Silk Mills Vs. Cit

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Oct-20-2004

Reported in : (2005)92TTJIndore481

..... firms are hawala entries and all these entries are bogus entries, no action will be taken against me and in case i do not admit then extreme actions under income tax act and ipc act will be taken against me.(7) that, i was under heavy pressure, mental tension and frightened of imprisonment and fine and in such a panic and duress condition, i ..... done within the prescribed period, though the actual service of the order may be beyond that period." it is not known that what were the provisions of the particular state act. in income tax act, the provisions are clear and the time-limit is provided only for making an order and not for communicating the same.this case also, therefore, is of no help ..... which were served on 8-3-2002, are, therefore, not valid order. i do not find any merit in this contention of the assessee. no such provision is there in income tax act to provide that order must also be communicated within such time-limit prescribed for making the order. making of an order and communication of such order are two separate actions ..... confirmation, gir number and copy of return submitted to department in support of genuineness of loans introduced. hence, the above cash credits should not be added to our income under section 68 of the income tax act." (xiv) again, for assessment year 1991-92, the assessee vide letter dated 20-6-1998 enclosed present addresses (available with the assessee on the date). all these .....

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Feb 26 2004 (TRI)

V.K. Brahmankar Vs. Joint Cit

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Feb-26-2004

Reported in : (2004)1SOT239Indore

..... the unexplained cash (questioned in ground nos. 2 to 6), and rs. 44,394 for the silver articles/utensils (questioned in ground no. 1) were made under section 69a of income tax act by the ao on the basis, that cash rs. 46,33,234 and silver utensils worth rs. 44,394 were found in the search conducted by the authorities of lokayukta ..... limit. the block assessment order was framed on the basis of the seizure memo received from lokayukta which constitutes other documents as stated in explanation to section 158be of the income tax act, submits the learned departmental representative without prejudice to his aforesaid submissions. he submits further that in the entire section 158bc nowhere the word "execution" has been mentioned, in the beginning ..... honble m.p. high court in the case of kumari salya setia (supra) has held that the appellate tribunal is the final fact finding body under the scheme of the income tax act. the powers, therefore, have necessarily to be exercised by it for deciding the questions of fact and while exercising its powers if the tribunal is of opinion that additional evidence ..... proving the ownership in the facts and circumstances of the present case was thus entirely on the department as per the provisions of section 69a of the income tax act, since presumption under this provision of the act is not conclusive. the question is as to who is the owner of the money seized, the father who denies ownership or the son who furnishes .....

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Jun 11 2004 (TRI)

Harendrapal Singh Bratia Vs. Cit

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Jun-11-2004

Reported in : (2004)91TTJIndore598

..... grounds. an additional ground has also been taken which is as follows : "that on the facts and circumstances the order of cit ostensibly dated 12-12-2000, under section 263 of the income tax act, 1961, against the assessment order dated 12-2-1999, for assessment year 1995-96 was served on the assessee on 30-7 ..... evidence or same is not accompanied by any material on the basis of which it could be said that order under section 263 was issued to income tax officer's office on 12-12-2000. he submitted that there is a legal presumption that the order was not passed on the date it bears ..... there is no evidence in the form of dak book or memorandum of internal movement which shows that order was issued by the office of the cit. in view of this, the natural legal presumption as pronounced in the abovenoted two authorities and other cases cited by learned authorised representative is that order ..... published so that party affected has a means of knowing it. in this connection, we reproduce the para extracted by hon'ble kerala high court in cit v. shree narayana chandrika trust (supra)."the order of any authority cannot be said to be passed unless it is in some way pronounced or ..... .after hearing both the parties, additional ground was admitted for adjudication as the same involved legal issue.learned authorised representative submitted that impugned order passed by cit is barred by limitation, as the same was admittedly served upon the assessee after 230 days of passing of the same, i.e., on 30- .....

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Feb 27 2004 (TRI)

M.P. State Civil Supplies Corpn. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Feb-27-2004

Reported in : (2005)1SOT208Indore

..... ) held that re-assessment was valid even on the change of opinion but that judgment was rendered under kerala agricultural income tax act, 1950 and we are not sure whether provision of kerala agricultural income tax act, 1950 is similar to the provision of section 147 of income tax act, 1961. in any case, majority of the high courts have held that re-assessment on change of opinion in ..... review his own order. his jurisdiction is confined only to rectification of mistakes as contained in section 154 of the income tax act, 1961. the power of rectification of mistakes conferred upon the income tax officer is circumscribed by the provisions of section 154 of the act. the said power can be exercised when mistake is apparent. even a mistake cannot be rectified where it may ..... various high court judgments submitted by the appellant.3. that looking to the facts and in the circumstances of the case the learned cit (a) has erred in confirming the charging of interest under sections 234b & 234c of the income tax act, which was not according to the provisions of law and hence invalid and illegal." ground no. 1. the brief facts of the ..... be a mere possible view or where the issues are debatable. the income tax appellate tribunal has limited jurisdiction under section 254(2) of the act. it is a well-settled principle of law that what cannot be done directly cannot be done indirectly. if the .....

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May 31 2004 (TRI)

President, Seth Malukchand Vs. Cit

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : May-31-2004

Reported in : (2004)90TTJIndore989

..... the paper book which has been shown registered with the registrar of public trusts, barnagar. we agree with the learned authorised representative that the requirements of section 13 of the income tax act are clear that the trust must be created or established, it does not suggest registration as a condition precedent. the computation filed with the returns for the assessment years 1984 ..... its activities is required to be made. he submits that the trust was created prior to 1-4-1962.therefore, the bars provided under section 13(1)(b) of the income tax act, 1961 were not applicable in the case of the assessee.he submits that originally the trust was created as a religious trust and there were various objects stated in the ..... , by the learned commissioner on several grounds.the assessee-trust has applied for registration under section 12a(a) of the income tax act under the prescribed format on 18-6-2002, praying for registration with effect from 26-9-1956, which has been refused by the learned commissioner vide order dated 26-12- ..... the trusts on 20-11-2002. in fact, it was not a registration of new trust, but amendments made in the original trust deed were got registered. so far the income-tax is concerned, it is not necessary that the trust must be registered with the registrar of trusts. regarding selling of property situated at 25, abbas tayyab ali ward 3, barnagar .....

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May 31 2004 (TRI)

Dy. Commissioner of Income Tax Vs. Kashyap Sweetners Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : May-31-2004

Reported in : (2004)91ITD603Indore

..... the inland revenue. now the question before house of lords was whether payments of interest for the purpose of section 338 of income and corporation tax act, 1988 was valid? the special commissioner decided that the interest had been paid within the meaning of section 338 and was deductible and ..... other than interest on bank loans, could be set off against the profit and any unused excess could be carried forward under section 17(5) of the taxes act, 1988. thus, the situation was if wil could pay to pension scheme trustees the amount of 40 million arrears of interest the company would have value ..... who has not referred the same to ao for his comments and thus in that sense also relief granted by ld. cit(a) is not correct because same is in violation of rule 46a of income tax rules, 1962.18. on the other hand, ld. ar vehemently argued that in this case no colourable device was ..... but no evidence was furnished for the same and thus notional interest for 7 months @ 18% amounting to rs. 21000/- was added to the income of assessee. cit(a) deleted these additions holding that these advances were mainly for the purpose of business and in case of advance for land the confirmation itself shows ..... a particular set of facts, the initiations cannot be universals. always one must go back to the discernible intent of the taxing act. i suspect that the advisers of those bent on tax avoidance do not always pay sufficient heed to the theme in the speeches in the furniss case....... to the effect that the .....

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Jul 30 2004 (TRI)

income Tax Officer Vs. Prakashchand Soni [Alongwith Ita

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Jul-30-2004

Reported in : (2005)94TTJIndore631

..... the assessment order whereas the first appellate order has been relied on by the learned authorised representative with the submission that the assessee, his brother, father and wife are all income-tax assessees and have been filing it returns. during these years withdrawals made by lalchand, father of the assessee, both the brothers and their family members for household expenses were at ..... appropriate and beneficial to the assessee is to be adopted. secondly, i find that when proper books are maintained by the appellant and expenditures are supported by vouchers, addition to income cannot be made on the basis of valuation report, without rejecting the accounts. further, i find that as regards the major area of difference, i.e., basic cost of ..... persons without addresses who had ordered for making of ornaments. hence, it was also not verifiable.in these circumstances, the ao has invoked the provisions of section 145 of the act and has made the aforesaid additions in the assessment years under consideration. the learned authorised representative, on the other hand, reiterates the contentions raised before the lower authorities while ..... were maintained in the labour register and no specific defect or discrepancy was located by the ao. the learned cit(a) has further observed that the job work for which the assessee had procured labour work was regulated under the gold control act. the same register was produced before us, on perusal of which we find force in the observations of .....

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Sep 28 2004 (TRI)

Jagdish Malpani Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Sep-28-2004

Reported in : (2005)94TTJIndore321

..... . 021/52/1993-94, dt.17th june, 1993 for copying charges to obtain the copies of books of account and loose papers from the office of asstt. director of investigation (income-tax), bhopal, so the it return of asst. yr.1993-94 should have been filed within the due date (which was 31st oct., 1993).4. so far addition of rs. 1 ..... 163 of the said book have been placed on record. the learned authorised representative also cites following judgments in support with the submission that the relevant section 80 of the it act is not a charging provision or a provision imposing penalty but a machinery provision and, therefore, it should not be construed strictly keeping in view of the hardship of the ..... power and control of the assessee and, therefore, the business loss should have been allowed to be carried forward despite the hardship of the provisions of section 80 of the it act. he refers page no. 162 of the book 'brooms legal maxims 10th edn., by herberts broom, ll.d.', wherein under the chapter 'fundamental legal principles', the maxim 'lex non cogit ..... 48.00 qtls.the explanation of the assessee in this regard remained that the copy of stock register found at the time of survey maintained regularly under the essential commodities act and signed by the official of the it department during the course of survey, shows 1,721.19 qtls. of chana, under which circumstances a presumption cannot be arrived at .....

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Oct 29 2004 (TRI)

Jaswant Singh Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Oct-29-2004

Reported in : (2005)96TTJIndore660

..... income.the learned cit(a) accordingly, came to the conclusion that in the scheme of taxing the income from other sources, the it act, 1961, did not provide for any deduction under section 57 from the fixed salary and allowances received by the assessee by virtue of his election to ..... by the member of madhya pradesh legislative assembly enjoyed any exemption under section 10(17) and as such formed part of his income under section 2(24) of the it act , 1961. the learned cit(a) also discussed the provision laid down under section. 57 of the act and was of the view that the same does not provide for any deduction for such ..... for taxation. the learned cit(a) after considering the arguments advanced on behalf of the assessee and the judgement relied upon by the learned authorised representative agreed with that the income of the assessee was assessable under the head "income from other sources" under section. 56 of the it act, 1931, and section 10(17) of the it act, 1961, deals with exemption of daily ..... authorised representative submits that the learned cit(a) ought to have appreciated that without incurring such expenditure towards telephone and travelling/conveyance, it was not possible for the assessee to discharge the duties assigned to him under the constitution. he submits that once such income is assessed under section 56 of the act under the head "income from other sources" deduction permissible under .....

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Nov 03 2004 (TRI)

Shri Kantilal Prabhudas Patel Vs. the Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Indore

Decided on : Nov-03-2004

Reported in : (2005)93ITD117Indore

..... able to establish the identity of any firm in the name of m/s patel kamlesh kumar & co. by producing any deed of partnership, any books of accounts or any income tax return or any other document in the name of the firm.he observed that merely stating that m/s patel kamlesh kumar & co. is a partnership firm does not establish ..... case of the assessee on 18-6-1999 and on the same day a search was also conducted under section 132 of the act. a cash of rs. 12,62,000/-, interalia, was seized which was added to the income of the assessee in absence of satisfactory explanation furnished by the assessee as regards the source of this cash, in the statement ..... under section 132(4) of the act, shri kantibhai patel, son of prabhudas patel, prop/main person available at the premises of this concern, m ..... /s patel kamlesh kumar kantilal & co., categorically admitted in his statement on 20-8-1999 before the investigation wing that the cash was his personal income from undisclosed sources. he surrendered the whole amount unconditionally .....

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