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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Year: 2004 Page 1 of about 176 results (0.037 seconds)

Sep 14 2004 (HC)

industrial Cables (India) Ltd. Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Sep-14-2004

Reported in : [2005]272ITR314(P& H)

..... of the income-tax act, 1961 (for short, 'the act'), on the following assets :rs.(i) cycle stand for workers {cable unit) 57,391(ii) cycle stand to workers (xlpe unit) 42,847 ..... unit) as well as for that of (xlpe unit) which items have not been specifically mentioned in section 32(1)(iv) of the income-tax act, 1961 ?'questions nos. 1 and 1a :4. the facts relevant to this issue are that the assessee claimed initial depreciation under section 32(1)(iv) ..... to him, neither the cycle stands nor water cooler places were covered in any of the items referred in section 32(1)(iv) of the act. the commissioner of income-tax (appeals) confirmed the order of the assessing officer. on further appeal by the assessee, the tribunal, following its earlier order in the case ..... the other hand, contended that this rule was not applicable to the professionals. the disallowance made by the assessing officer was upheld by the commissioner of income-tax (appeals). the tribunal on further appeal upheld the disallowance by observing as under :'we have heard both the parties at length. the nature of the ..... the professionals has not been discussed either by the assessing officer or the commissioner of income-tax (appeals). be that as it may, rule 6d(2) refers to the words 'any other person'. this has not been defined in the act. it has, therefore, to be considered in its wider sense. the words ' .....

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Dec 14 2004 (HC)

Commissioner of Income-tax Vs. Shiva Rice and Dal Mills

Court : Punjab and Haryana

Decided on : Dec-14-2004

Reported in : (2005)196CTR(P& H)78; [2005]273ITR265(P& H)

..... section 32ab(1) and (5) which is pari materia to section 80hha(4) and held as under (headnote):'the conditions embodied in sub-section (1) of section 32ab of the income-tax act, 1961, the fulfilment of which entitles the assessee to claim deduction on the basis of investment deposit account are mandatory, because the substratum of the claim of deduction is the ..... the business of manufacturing rice. the original assessment is relation to the assessment year 1983-84 was completed by the income-tax officer c- ward, ambala (hereinafter described as 'the assessing officer'), under section 143(1) of the income-tax act, 1961 (for short 'the act'), at rs. 5,795. the assessment was reopened under section 143(2)(b). the assessee filed a revised return ..... on september 2, 1985, along with duly audited accounts. thereafter, vide order dated september 16, 1985, the assessing officer assessed the income of the assessee under section 143(2)(b ..... on the ground that duly audited accounts had not been filed with the original return. the appeal filed by the assessee was partly allowed by the appellate assistant commissioner of income-tax, ambala range, ambala, vide his order dated december 10,1985, but he upheld the decision of the assessing officer not to allow deduction under section 80hha. on further appeal, .....

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May 21 2004 (HC)

State Bank of Patiala Vs. Commissioner of Income-tax and anr.

Court : Punjab and Haryana

Decided on : May-21-2004

Reported in : (2005)198CTR(P& H)407; [2005]272ITR54(P& H)

n.k. sud, j.1. the assessee has filed this appeal under section 260a of the income-tax act, 1961 (for short the 'act'), against the order of the income-tax appellate tribunal, chandigarh bench-a, chandigarh (for short 'the tribunal'), dated august 4, 2003, whereby the action of the assessing officer in restricting its claim for deduction of the provision ..... ) of the act. the assessing officer observed that in the books of account pertaining to the relevant assessment year, the assessee had made a provision for bad debts at rs. 1,19,36,000 only. he, therefore, restricted the allowance to rs. 1,19,36,000 only and disallowed the balance amount. the disallowance was upheld by the commissioner of income-tax (appeals ..... ) (for short the cit(a)) in appeal vide order dated july 20, 1.988. the assessee further preferred an appeal before the tribunal and the tribunal has also upheld the disallowance vide ..... , 2003.3. mr. akshay bhan, learned counsel for the appellant, submitted that originally the assessee had filed its return of income for the assessment year 1985-86 on september 27, 1995, wherein deduction under section 36(1)(viia) of the act had been claimed at rs. 1,19,36,000 which was admissible under that provision as it existed at the relevant .....

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Jul 22 2004 (HC)

Commissioner of Income-tax Vs. Puja Investments Pvt. Ltd.

Court : Punjab and Haryana

Decided on : Jul-22-2004

Reported in : (2006)203CTR(P& H)322; [2005]272ITR606(P& H)

..... by the trusts from m/s. hero cycles limited. in addition to the income from the trusts, the assessee had its own income from other sources including dividend. the assessee claimed deduction under section 80m of the income-tax act, 1961 (for short 'the act'), in respect of dividend income received by it directly and also share of dividend received from the two trusts. the assessing ..... from the trusts, it was held that the same was not in the nature of dividend income but income from the trusts and, therefore, the same did not qualify for deduction under section 80m of the act.3. the assessee preferred an appeal before the commissioner of income-tax (appeals), who vide his order dated february 3, 1992, allowed the assessee's claim that ..... from another domestic company which is an essential requirement for claiming deduction under section 80m of the act.6. mr. akshay bhan, learned counsel for the assessee, on the other hand, supported the findings recorded by the commissioner of income-tax (appeals) and the tribunal. he further placed reliance on cit v. trustees, t. stanes and co. ltd., staff pension fund : [1993]200itr396(mad ..... this purpose, he placed reliance on the provisions of section 67a of the act and also on a direct authority of the calcutta high court in cit v. indian iron and steel co. ltd. : [1985]156itr314(cal) .4. aggrieved by the order of the commissioner of income-tax (appeals), the revenue preferred an appeal before the tribunal which has been dismissed vide the .....

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Sep 10 2004 (HC)

Commissioner of Income-tax Vs. Mangal Engineering Works

Court : Punjab and Haryana

Decided on : Sep-10-2004

Reported in : [2005]272ITR318(P& H)

..... . the revenue has filed this appeal under section 260a of the income-tax act, 1961 (for short 'the act'), against the order of the income-tax appellate tribunal, chandigarh bench 'b', chandigarh (for short 'the tribunal'), dated november 14, 2003, relating to the assessment year 1996-97 whereby the revenue's contention that the income of the assessee be determined by application of a net profit rate ..... . therefore, the criteria should have been applied to the declared sales. having regard to these facts and circumstances of the case, we are of the considered opinion the commissioner of income-tax (appeals) was justified in reducing the addition by applying the gp rate of 22 per cent, based on gp rates of earlier assessment years.'4. dr. n. l. sharda, learned ..... on the basis of the past history. the tribunal, referring to the gross profit rate applied and accepted by the department in the earlier years, held that the commissioner of income-tax (appeals) was justified in reducing the addition by applying the gross profit rate of 22 per cent, as per the past history of the case. relevant findings are contained in ..... assessee. we have referred to the past history of the case and found that never in the past the assessing officer had estimated the income by applying the net profit rate. the facts noted by the commissioner of income-tax (appeals) in para. 2.3 of the impugned order show that the assessee had declared gp rate varying from 21 per cent, to .....

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Mar 08 2004 (HC)

Commissioner of Income-tax Vs. Rajan Kumar

Court : Punjab and Haryana

Decided on : Mar-08-2004

Reported in : [2005]272ITR377(P& H)

n.k. sud, j.1. the revenue has filed this petition under section 256(2) of the income-tax act, 1961, (for short 'the act'), relating to the assessment year 1981-82 praying that the income-tax appellate tribunal, chandigarh bench, chandigarh (for short 'the tribunal'), be directed to prepare a statement of the case and refer the following question of law arising out of its order ..... of this court :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in law in confirming the order of the commissioner of income-tax (appeals), who deleted the penalty of rs. 3,07,882 under section 271(1)(c) of the income-tax act, 1961, for the assessment year 1981-82, particularly when reference petition of the department ..... is pending before the hon'ble punjab and haryana high court against the order of the income-tax appellate tribunal passed in r. a. no. 73/chandi of 1990 ?'2. the revenue had ..... earlier filed application under section 256(1) of the act requiring the tribunal to refer this question to this court. the said application was rejected by the tribunal .....

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Oct 01 2004 (HC)

Aditya and Company Vs. Commissioner of Income Tax and anr.

Court : Punjab and Haryana

Decided on : Oct-01-2004

Reported in : (2005)195CTR(P& H)258; [2005]279ITR47(P& H); (2005)139PLR583

..... 2004.3. in this petition under article 226/227 of the constitution of india, the petitioner has sought to challenge the proceedings initiated under section 148 of the income-tax act, 1961 (for short, 'the act') and has sought quashing of annexure p2 and the order passed on objections (annexure p1).4. the petitioner had filed the return for the assessment year 2003-2004 ..... income-tax v. d.c.basappa and ors. (2001)251 i.t.r. 673, the assessing officer cannot take recourse to the proceedings under section 148 of the act, for changing the status of an assessee.6. we have considered the submissions of the learned counsel ..... initiated reassessment proceedings on mere change of opinion and the same is bad in law as held in wyeth (india) pvt. ltd. v. n.d.bhatt, inspecting assistant commissioner of income-tax and anr., (1982)127 i.t.r. 20. the last submission of the learned counsel for the petitioner was that in view of commissioner of ..... interest paid to the partners. the assessing officer had issued a notice under section 148 of the act (annexure p2) on the premise that the said income does not fall within the ambit of 'business income' and shall be income from other sources and, therefore, income chargeable to tax has escaped assessment. accordingly, the petitioner was issued a notice by the assessing officer, to which objections .....

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May 18 2004 (HC)

Paras Cold Storage and Ice Factory Vs. Commissioner of Income-tax and ...

Court : Punjab and Haryana

Decided on : May-18-2004

Reported in : (2005)194CTR(P& H)520; [2005]272ITR301(P& H)

..... appellant has filed an application for rectification of the order dated october 29, 1999, before the income-tax appellate tribunal. this application, according to counsel, has been filed under section 254(2) of the income-tax act, 1961. in view of the pendency of the application for rectification, counsel does not want to ..... of the income-tax act, 1961 (for short 'the act'), against the orders of the income-tax appellate tribunal, chandigarh bench (for short 'the tribunal'), dated october 29, 1999, disposing of the appeal filed by the assessee and dated august 8, 2002, rejecting its application under section 254(2) of the act for ..... an admitted position that the assessee had earlier preferred an appeal under section 260a of the act before this court against the order of the tribunal dated october 29, 1999, which was numbered as income-tax appeal no. 28 of 2000. the said appeal was disposed of vide order dated august ..... 1996, and the assessment for the block period was completed by the assessing officer vide order dated september 27, 1996, determining the undisclosed income for the block period at rs. 2,20,150. the assessee filed an appeal against the order of the assessment before the tribunal ..... which was partly allowed vide order dated october 29, 1999. thereafter, the assessee moved an application under section 254(2) of the act before the tribunal wherein it was contended that certain submissions and arguments made by the assessee had escaped its notice while deciding the appeal .....

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Aug 09 2004 (HC)

Commissioner of Income-tax Vs. Darshan Singh

Court : Punjab and Haryana

Decided on : Aug-09-2004

Reported in : (2005)194CTR(P& H)242; [2005]272ITR650(P& H)

..... have been advanced in i. t. a. no. 185 of 2002, the facts are taken from that.2. the income-tax appellate tribunal, amritsar bench, amritsar (for short the 'tribunal'), has quashed the proceedings under section 147 of the income-tax act, 1961 (for short 'the act'), initiated on the basis of the report of the valuation officer determining the cost of construction at a figure ..... higher than what was disclosed by the assessee. for this purpose, the tribunal placed reliance on the decision of this court in cit v. smt. usha mathur and various other ..... decisions of different benches of the tribunal taking the same view.3. we have heard counsel for the parties and have perused the orders on record.4. counsel for the revenue has not been able to controvert the factual position that the proceedings under section 147 of the act have been ..... officer was clearly invalid. if the said report is excluded from consideration, there is no material whatsoever warranting satisfaction on the part of the assessing officer about the escapement of income. thus, the impugned notices cannot be sustained on this ground as well.6. accordingly, we find no merit in these appeals which are dismissed.

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Sep 03 2004 (HC)

Budh Kishore Vs. Joint Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Sep-03-2004

Reported in : [2005]273ITR492(P& H)

..... n.k. sud, j.1. these two appeals have been filed by the assessee under section 260a of the income-tax act, 1961 (for short 'the act'), against the orders of the income-tax appellate tribunal, bench 'd', new delhi (for short 'the tribunal'), dated september 23, 2003, and august 12, 2003 ..... concrete evidence on record.5. aggrieved by the order of the commissioner of income-tax (appeals), the revenue filed an appeal before the tribunal. the tribunal has upheld the estimate of the assessing officer determining the household expenses ..... pure vegetarian and teetotaller maintaining an ordinary standard of living, the said amount was sufficient to cover the household expenses. the commissioner of income-tax (appeals) accepted this claim and deleted the addition by observing that the same had been made on mere assumptions without there being any ..... been incurred out of undisclosed sources and thereby made an addition of rs. 1,20,000 to the income of the assessee.4. the assessee preferred an appeal before the commissioner of income-tax (appeals) contending that there was no basis, whatsoever, for estimating the household expenses at rs. 1 ..... for the assessment years 1994-95 and 1995-96, respectively, had remained unexplained and thereby upholding the addition to that extent in the total income of the assessee.3. during the course of assessment proceedings for the assessment year 1994-95, the assessing officer observed that the assessee .....

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