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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Year: 2007 Page 1 of about 136 results (0.039 seconds)

Jul 10 2007 (HC)

Avinash Gupta Vs. C.i.T.

Court : Punjab and Haryana

Decided on : Jul-10-2007

Reported in : (2007)212CTR(P& H)79; [2007]294ITR168(P& H)

..... m.m. kumar, j.1. this appeal filed under section 260a of the income-tax act 1961 (for brevity 'the act') is directed against orders dated 7-04-2006 (a1) passed in it (ss) a no. 19/chandi/2001 for the block period of 1.4 ..... under any authorities of law and not even under the principles of natural justice.g. whether on the facts and in the circumstances of the case the income tax appellate tribunal was justified on facts and in law confirming the action of the authorities below by erroneously ignoring the facts, statements, replies and evidences on record ..... but at the time of arguments his counsel has pressed only following two questions:b. whether on the facts and in the circumstances of the case the income tax appellate tribunal was justified on facts and in law confirming the action of the authorities below by erroneously ignoring the fact that under similar facts and circumstances ..... block period at rs.86,87,513/-vide order dated 23-2-2000 and tax at the rate of 60% was determined as per section 113 of the act which was calculated at rs. 52,07,107/-. 3. on appeal to the commissioner of income tax (appeal) the assessment order was partially sustained to the extent of rs. 22 ..... ,23,036/ only and allowed partial relief to the assessee. 4. the assessee as well as the revenue felt aggrieved by the order passed by the cit .....

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Jan 15 2007 (HC)

Mrs. P. Kropivnik Vs. the Commissioner of Income Tax

Court : Punjab and Haryana

Decided on : Jan-15-2007

Reported in : [2007]291ITR72(P& H)

..... differentials, gearboxes, brakes etc.), lasso pulleys and hangers, rope hooks, tools and accessories. on this total investment the assessee claimed investment allowance under section 32a of the income tax act, 1961 ( for short the act) to the extent of 25% of the total investment. the claim made by the assessee was disallowed by the assessing officer with the observation that the machinery so ..... or production of any article or thing as required under section 32a of the act and was merely being used for transportation of timber from jungle to motorable road through ropeway transport. 5. in appeal against the order, the commissioner of income tax (appeals) (for short the cit(a)) accepted the plea of the assessee by observing that the timber so ..... allied industries (p.) ltd. : [1996]221itr561(ap) and commissioner of income-tax v. elemech industrial constructions : [1998]229itr503(ap) (andhra pradesh) to submit that even the business of assembly has been held to be covered under the term manufacture for the purpose of section 32a of the act. there is no quarrel with the proposition laid down in the above cases ..... for investment allowance under section 32a of the act. it is further contended that the assessee was engaged in the business of manufacture of ropeways, which entitled her to claim investment allowance. perversity of findings recorded by the tribunal are also challenged. 8. learned counsel for the assessee relied upon commissioner of income-tax, bombay city i v. tata locomotive & .....

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Feb 01 2007 (HC)

Cit Vs. Ashoka Steel Industries and Flour Mills

Court : Punjab and Haryana

Decided on : Feb-01-2007

Reported in : [2007]293ITR192(P& H)

..... 35,800 on account of purchase made in cash, which were disallowed by the assessing officer under section 40a(3) of the income tax act, 1961 (hereinafter referred to as'the act'), as the assessing officer was not satisfied with the reasons given by the assessee for non-compliance of the provisions of section 40a ..... chandi/ 84 for the assessment year 1980-81 :whether, on the facts and in the circumstances of the case, the income tax appellate tribunal was right in ..... make payment in cash. the genuineness of the transactions was not in dispute. referring to rule 6dd of the income-tax rules, 1962, which relaxes the rigours of section 40a(3) of the act, the tribunal accepted the explanation submitted by the assessee. even if there is a second opinion possible on reappreciation ..... rajesh bindal, j.1. the income tax appellate tribunal, chandigarh bench, chandigarh (hereinafter referred to as, 'the tribunal'), has referred under section 256(1) of the income tax act, 1961, the following question of law which emerges from its order dated august 22, 1988, in i. t. a. no. 924/ ..... cash payment was not sufficient and acceptable. he further submitted that there being a clear violation of the provisions of section 40a(3) of the act, the assessee was not entitled to deduction of the amounts so spent by him.5. on a perusal of the order passed by the tribunal, .....

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Aug 08 2007 (HC)

Commssioner of Income Tax Vs. Haryana Minerals Ltd.

Court : Punjab and Haryana

Decided on : Aug-08-2007

Reported in : [2009]313ITR318(P& H)

..... petition filed under section 256(2) of the income tax act, 1961 (for brevity 'the act') challenges order dated 28.7.1998 passed by the income tax appellate tribunal, delhi bench (d), new delhi (for brevity 'the tribunal') in ra no. 16/del/98 dismissing the application filed by the revenue under section 256(1) of the act. the revenue has claimed that the following two questions ..... . 1 has been answered in favour of the revenue on the basis of the judgement of hon'ble the supreme court in the case of gem granites v. commissioner of income tax tamil nadu (2005) 26 itr 1. the observations of the division bench in that regard reads as under:. it is sufficient to mention that the ..... . 40 of 1997 directed the tribunal exercising power under section 256(2) of the act to draw the statement of the case and refer the afore-mentioned two questions for its opinion. he has further pointed out that in itr no. 32 of 1999 (the commissioner of income tax, haryana, rohtak v. haryana minerals ltd., nizampur road, narnaul) both the questions have now ..... to the case of the assessee as if the amendment made by finance act no. 2 of 1991 was retrospective. this has to be treated as legally unsustainable in view of the law laid down by the supreme court in m/s gem granites versus commissioner of income tax, tamil nadu (supra). as a corollary to this, it must be held that the .....

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Jul 09 2007 (HC)

Cit Vs. Manohar Lai Bhardwaj

Court : Punjab and Haryana

Decided on : Jul-09-2007

Reported in : [2009]311ITR205(P& H)

..... been challenged by way of present reference. on the claim made by the revenue on the application filed under section 256(1) of the income tax act, 1961 (for brevity 'the act'), the following question of law has been referred for the opinion of this court:whether on the facts and in the circumstances of the case ..... , the tribunal has been right in law in holding that the assessee was entitled to benefits of deduction under section 80hhc of the income tax act, 1961?2. the facts as revealed by the statement of the case are that the assessee is an individual and exporter for the last so many ..... a company nor a co-operative society whose accounts were separately required to be audited under the act. this is a case of individual and tax audit is required under clause (bb) of explanation to section 44ab of the act which was eventually filed and furnished. according to clause () if the accounts were audited then ..... the return for granting the benefit of deduction to the assessee in terms of section 32ab(1) of the act has been considered by a full bench of this court in the case of cit v. punjab financial corporation (2002) 254 itr 61 wherein it has been held that the provisions of section 32ab ..... (5) of the act are not mandatory and the assessing officer has the discretion to entertain the audit report even later .....

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Jul 26 2007 (HC)

The Commissioner of Income-tax Vs. Kulwant Industries

Court : Punjab and Haryana

Decided on : Jul-26-2007

Reported in : (2008)214CTR(P& H)223; [2009]311ITR377(P& H)

..... )/ 1991 in respect of assessment year 1989-1990. the revenue succeeded in persuading the tribunal to refer the following question of law under section 256(1) of the income tax act, 1961 (for brevity 'the act') for the opinion of this court:whether, on the facts and circumstances of the case, the ld. itat was right in law to hold that the addition to ..... -resident indian. the assessing officer made an addition of rs.25,000/-by treating the same as un-explained income credited in the capital account of sh. jaswinder singh-partner. 3. the assessee firm challenged the order of assessment before the commissioner of income tax (appeal), jalandhar, who vide his order dated 13-12-1990 deleted the addition of rs.25,000/-by ..... upholding the other additions. in the appeal filed by the revenue, the order of the cit(a) was challenged on account of deletion of rs.25,000/-, which was ..... manufacture and sale of oil engine parts. it filed its return on 25-08-1989 declaring an income of rs.1,00,040/-and the assessment was completed by the assessing officer vide order dated 29-11-1989 under section 143(3) of the act. one of the partners sh.jaswinder singh, who enjoyed 15% of the share in the assessee firm .....

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Jan 17 2007 (HC)

Commissioner of Income-tax Vs. Air Craft Radio Corporation

Court : Punjab and Haryana

Decided on : Jan-17-2007

Reported in : (2007)211CTR(P& H)485; [2007]292ITR64(P& H)

..... the return of income filed by the assessee on august 23, 1969, declaring its income to be rs. 7,959. the assessing officer completed the assessment by issuing notice under section ..... this court has been referred:whether, on the facts and in the circumstances of the case, the learned income-tax appellate tribunal was right in law in annulling the order of the income-tax officer under section 143(3) read with section 147(a) of the income-tax act, 1961 ?2. the facts may briefly be noticed.3. the assessee is a registered firm. it carries on ..... the business of sale, purchase and repair of radios. on september 21, 1970, original assessment was made at rs. 8,010 by the income-tax officer under section 143(1) of the income-tax act, 1961 (for brevity 'the act') on the basis of ..... assessing officer, was issued without verification of the allegations levelled in the complaint. in fact on receipt of the complaint a survey under section 133a of the act was made by the inspector of income-tax on june 2, 1973, when the books of account of the assessee for the year 1973-74 were impounded. the books of account pertaining to the assessment .....

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Jan 16 2007 (HC)

Commissioner of Income-tax Vs. Upper India Steel Manufacturing and Eng ...

Court : Punjab and Haryana

Decided on : Jan-16-2007

Reported in : [2007]292ITR81(P& H)

..... commissioner of income-tax (appeals) (for short, 'the cit(a)'). in appeal by the assessee, the tribunal held that the interest under section 216 is to be calculated having regard ..... payment of the first two instalments of advance tax which would have been of rs. 22,96,000 each as against rs. 15,37,500 paid by the assessee. as the assessee deferred payment of the first two instalments, the assessing officer charged interest under section 216 of the income-tax act, 1961 (for short, 'the act'). the levy of interest was upheld by the ..... to the aggregate advance tax actually paid during the year and not instalment wise. since the assessee had paid the entire advance tax up to ..... . rayalaseema mills ltd. : [1997]228itr477(ap) , wherein also it is observed that in case under-estimation of advance tax is due to under-estimation of income by the assessee or due to any other reason, the provisions of section 216 of the act would be attracted.7. from the factual matrix as narrated above, which is borne out from the record, it is .....

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Aug 03 2007 (HC)

The Commissioner of Income-tax Vs. Gupta Engineering Works

Court : Punjab and Haryana

Decided on : Aug-03-2007

Reported in : (2007)213CTR(P& H)30

..... , on the facts and in the circumstances of the case, the tribunal was right in law in holding that section 154 of the income tax act was not attracted and the matter squarely fell under section 155(4a) of the act, though it was a case where the assessing officer had only made a wrong mention of section 154 in his order? 2. briefly ..... the partner smt. meena gupta, the assessing officer invoked jurisdiction under section 154 of the income tax act, 1961 (for short, `the act') on account of violation of provisions of section 32a(7) of the act. while dealing with the issue in proceedings initiated under section 154 of the act, it was observed by the assessing officer that during the course of assessment proceedings for the ..... is not a purpose of the business of the undertaking, the investment allowance originally allowed shall be deemed to have been wrongly allowed, and the income-tax officer may, notwithstanding anything contained in this act, recompute the total income of the assessee for the relevant previous year and make the necessary amendment, and the provisions of section 154 shall, so far as may be ..... involving in the present case, we will have to deal with the scope of powers conferred on various authorities under sections 154 and 155(4a) of the act. in celeberated judgment in t.s. balaram, income tax officer, company circle iv, bombay v. volkart brothers and ors. : [1971]82itr50(sc) , hon'ble the supreme court had defined the scope of rectification while holding .....

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Dec 12 2007 (HC)

Commissioner of Income-tax Vs. Kartar Singh and Co. P. Ltd.

Court : Punjab and Haryana

Decided on : Dec-12-2007

Reported in : (2009)221CTR(P& H)479; [2008]300ITR440(P& H)

..... are being referred from i.t.r. no. 57 of 1995.2. at the instance of the revenue the income-tax appellate tribunal, amritsar bench, amritsar (for brevity 'the tribunal'), while exercising jurisdiction under section 256(1) of the income-tax act, 1961 (for brevity, 'the act'), has referred the following question of law, which is claimed to have arisen from the order dated april 12 ..... net profit rate of 10 per cent, on the total receipts without allowing further deduction on account of expenses or depreciation, etc. the commissioner of income-tax, jalandhar, exercised his revisional jurisdiction under section 263 of the act and after affording opportunity of being heard to the assessee, vide order dated march 10, 1993, held that the assessment framed on december 12, 1990 ..... rs. 35,470. as per the statement of case, the assessment was completed by the assessing officer under section 143(1)(a) of the act on december 12, 1990. subsequently, the commissioner of income-tax noticed that the assessee was not maintaining day-to-day record of consumption of raw material and work-in-progress, etc. he, therefore, observed that the provisions of ..... a statutory order, was required to be served upon the assessee to become effective and since it was not served, the commissioner of income-tax could not exercise jurisdiction under section 263 of the act in cancelling the alleged order passed under section 143(1) on december 12, 1990. the tribunal has also observed that if the order under section 143(1) .....

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