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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat west bengal Year: 1996 Page 1 of about 7 results (0.047 seconds)

Mar 29 1996 (TRI)

Woodcraft Products Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Mar-29-1996

..... of life it will not be possible to say that such objects or purposes are of religious nature in the sense the word "religion"or "religious" are used in the income-tax act.moreover, explanation 3, in our view, does not cover a case of an object which is of a religious nature in the technical sense. it will cover a case only ..... seeing the extent to which the expression "charitable purpose' has been arrived down in scope.18. the explanation uses the expression "religious nature" which has not been defined in the income-tax act, not the word "religion" defined. therefore, we have to understand the meaning of this expression according to the plain dictionary meaning.according to stround's judicial dictionary, "religion" means : "(1 ..... year, the assessee donated a sum of rs. 1,00,000 to a trust known as "vishwamangal trust" (hereinafter referred to as "the trust". deduction under section 80g of the income tax act, 1961 ("the act"), was claimed in respect there of and allowed by the ito while completing the assessment under section 143(3), read with section 144b, of the ..... is the advancement of the object of general public utility within the meaning of section 2(15) of the act, and as such the income from securities held by the assessee-council would be exempt from any tax liability under section 11 of the act." reliance is also placed on the observations of their lordships of the supreme court in another case of addl .....

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Dec 31 1996 (TRI)

Deputy Commissioner of Vs. Machino Techno Sales Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Dec-31-1996

Reported in : (2000)242ITR17Cal

..... assessee doubted by the assessing officer.29. let me consider the issue from another angle. for the purpose of obtaining an audit report, either under the company law or (tax audit) under the income-tax act, the bank statements should be made available to the auditors failing which, it may not be possible to complete the audit. admittedly, the audit commenced before the "specified ..... the explanation, the words "specified date" in the second proviso cannot be read as contended by learned counsel. it was argued by learned counsel for the assessee that under the income-tax act, whenever the legislature wanted to exclude application of provisions of other enactments, it was specifically provided for in those sections such as sections 179, 230a, etc., and in the absence ..... out by the division bench reads as under : "whether, on the facts and in the circumstances of the case, the assessee is liable to penalty under section 271b of the income-tax act, 1961 2. the facts in brief are as follows : for the assessment year 1986-87, the specified date" for obtaining the audit report ended on july 31, 1986, whereas the ..... a show-cause notice was issued to the assessee. in response to that, the assessee submitted that they have obtained the audit report as required under section 44ab of the income-tax act, 1961, on july 30, 1986, i.e., within the time limit. it was also explained that the statutory audit could not be completed within the time as voluminous work was .....

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Nov 29 1996 (TRI)

Ashoke Kumar Parasramka Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Nov-29-1996

..... reference with regard to what the assessee claimed as speculative transaction in shares. the assessment was finally completed on a total income of rs. 85,980.3. by notice dt. 14th march, 1996, the cit took proceedings under s.263 of the act for the following reasons : "(a) the ao has accepted the claim of the assessee in respect of share dealing to ..... conclusion derived by the ito from the enquiries made. the revisionary jurisdiction exercised by the cit under s. 263 has been held by the madras high court in venkatakrishna rice co. vs. cit (1987) 163 itr 129 (mad), was in the nature of a supervisory power and the cit acting under s. 263 was not "however", an appellate authority, by any means ... sec. 263 ..... manner, be equated to, or regarded as approaching in anyway the appellate jurisdiction or even the ordinary revisional power conferred on the cit under s. 264 of the act".a similar view has been taken by the bombay high court in cit vs.gabriel indian ltd. (1993) 203 itr 108 (bom), in the conspectus of facts which are more or less similar to ..... by the ito was on the lower side and that left to himself he would have estimated the income at a higher figure. according to the bombay high court that would not vest the cit with power to reexamine the accounts and determine the income himself at a higher figure. it was held that "it is because the ito has exercised the quasi .....

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Jul 23 1996 (TRI)

Washabarie Tea Co. (P) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-23-1996

..... is not at all liable to pay interest as the assessee filed return showing total loss of rs. 19,360 as against assessed income of rs. 1,46,620 because of certain disallowances. according to the learned counsel for the assessee the assessee could not have imagined the liability of ..... justified as they are based on pure guess, surmises and conjectures.17. the learned departmental representative on the other hand, relied on the order of the cit(a) and submitted that more than sufficient relief has already been given to the assessee.18. we have carefully considered the rival contentions, the relevant facts ..... 45 per cent. and no satisfactory explanation could be offered by the assessee. he, therefore, disallowed rs. 50,000 on estimate basis. before the cit(a) the assessee reiterated that increase in the transport charges does not hold any ground in view of the reduction in the sale proceeds of tea and ..... impugned assessment order is erroneous. while deciding the ground regarding charging of interest under s. 215 the cit(a) held that this is consequential and is not appealable. the assessee then filed a petition under s. 154 dt. 24th june, 1991 and in ..... ordered "charge interest if any". in the demand notice the demand for interest under s. 215 of the act was raised and served on the assessee. the assessee filed the appeal before the cit(a) on the ground that the assessee denies its liability for payment of any such interest and hence the .....

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Feb 16 1996 (TRI)

Sibonarayan Patro and Bros. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Feb-16-1996

..... 63,682 75,934 82,442 3. in response to the show-cause notice issued by the ao under s. 271b of the act, the assessee explained that the returns of income were filed along with the audit report, tax dues were paid in advance and it co-operated with the department. it was further submitted that the initiation of penalty proceedings, as ..... while completing the assessment. in this case, the assessee has voluntarily filed the returns of income along with the tax audit reports and the assessments were completed on the basis of the said tax audit reports by duly accepting the tax audit reports. in other words, the tax audit report was on record before the ao at the time of completion of assessment. thus, the ..... unamended provisions, is not expired. in fact, in the case cited by the learned departmental representative i.e., bhikari charan panda vs. cit (supra) their lordships have held that two year period mentioned in s. 275 of the unamended act had not expired at the stage when the new provisions have been introduced. per contra, it implies that in a case where ..... per s. 275 of the act is invalid in law, inasmuch as, the penalty proceedings under s. 271b/275 of the act have to be initiated "in .....

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Dec 31 1996 (TRI)

Amritlal Agarwal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Dec-31-1996

..... prescribed in s. 147(a) that the assessee had not made full and true disclosure of the material facts at the time of original assessment and therefore income chargeable to tax had escaped assessment." when we consider the position of documents marked as bm-5, savings bank account no. 237 with oriental bank of commerce and statement of ..... the paper-book and drew our attention to p. 18 of the paper-book and para 5 of the order under s. 245d(4) of the act and submitted that the income from purchase of sanitarywares is taken at rs. 25,000. according to the learned counsel for the assessee, the sanitary goods are purchased by the huf ..... , it is not a case of mere change of opinion or the drawing of a different inference from the same facts as were earlier available but one of acting on fresh information."xxx xxx xxx xxx xxx xxx "it would be immaterial whether the ito, at the time of making the original assessment, could or could ..... account of sanitary goods is considered by the settlement commission as it is evident from para 5, p. 18 of the order under s. 245d(4) of the act passed by the settlement commission, a copy of which is placed at p. 15 of the paper-book. the representative of the assessee also argued that sanitary goods ..... marked as bm-5 was seized vide annexure-"bm" panchnama placed on the record. the deposition of the assessee was also recorded under s. 132(4) of the act and a copy is placed at p. 27 of the paper-book. an order under s.132(5) placed at p. 11 of the paper-book was .....

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Nov 05 1996 (TRI)

Babhnan Sugar Mills Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Nov-05-1996

..... is a public limited company engaged, inter alia, in the business of manufacture and sale of sugar. in the assessment proceedings, it claimed exemption from income-tax in respect of a sum of rs. 1,97,78,396, which represented the excess price realised on levy sugar sold in the market as free ..... the tribunal do not require reconsideration in the light of the three decisions cited by the learned cit(a). we, therefore, hold that the amount of rs. 1,97,78,396 cannot be subjected to income-tax.11. the second ground against the disallowance of rs. 2,40,000 representing expenditure incurred for ..... the position. applying the principles laid down in these decisions it was held that the amount was revenue receipt and was rightly brought to tax as income for the year.4. in the further appeal it is submitted on behalf of the assessee that the order of the tribunal cited supra should ..... definition of "sale price" appearing in these acts it was held by the supreme court that the amount of freight formed part of the sale price ..... . synthetics ltd. vs. commercial tax officer 43 stc 13. there, the facts are different. the question was whether the freight paid by the purchasers and deducted from the invoice issued by the assessee dealer, formed part of the sale price under the rajasthan sales-tax act and central sales-tax act. on an examination of the .....

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