Court : Mumbai
Decided on : Aug-23-1990
Reported in : (1990)90CTR(Bom)135; 189ITR774(Bom)
..... d.r. dhanuka j.1. this reference is made by the income-tax appellate tribunal, bombay bench 'b' bombay, under section 256(2) of the income-tax act, 1961, in pursuance of an order of this court dated july 18, 1985, in income-tax application no. 599 of 1982 at the instance of the assessee. the question for our consideration is as under :'whether, on the facts and ..... film and was thus a part of the capital outlay. the matter was carried in second appeal by the department before the income-tax appellate tribunal. on this aspect, the income-tax appellate tribunal held that the order of the commissioner of income-tax (appeals) was erroneous. the tribunal set aside the order of the commissioner and held that the receipt of the said subsidy in ..... dealt with the question as to whether the receipt of such subsidy would constitute a revenue receipt or capital receipt in the hands of the recipient for the purpose of income-tax. it was observed by the board in the said circular that the scheme under consideration was framed by the government for the growth of industries and not for supplementing the ..... the assessee from the government of maharashtra constituted a revenue receipt and was, therefore, taxable. being aggrieved by the said order, the assessee filed an appeal before the commissioner of income-tax (appeals)- ii, bombay. by this well-considered order dated january 25, 1980, the commissioner held that the said amount was not taxable. during the course of his order, the commissioner .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-17-1990
Reported in : 189ITR481(Bom)
..... t.d. sugla, j.1. this is an application under section 256(2) of the income-tax act, 1961. the department has sought to raise the following question as a question of law :'whether, on the facts and in the circumstances of the case, the tribunal was right ..... asset brought by way of capital contribution did not amount to transfer of a capital asset. the assessment was completed on that basis.3. in the subsequent assessment year, the income-tax officer took the view that the assessee's contributing his immovable property to the firm as capital amounted to transfer of a capital asset and the surplus computed was liable ..... under section 147(b) is fresh information which means information subsequent to the completion of the assessment in consequence of which the income-tax officer can reasonably form a belief that income had escaped assessment. the order of the commissioner of income-tax (appeals) could constitute such information but that is not the information recorded as a reason for reopening the assessment. the reason recorded ..... under section 148 read with section 147(b). the reopening was challenged by the assessee. reasons recorded by the income-tax officer are noted in paragraph 7 of the tribunal's appellate order. there is no reference to the order of the commissioner of income-tax (appeals) passed for the assessment year 1977-78 or to that of the tribunal for that year in .....Tag this Judgment!
Court : Delhi
Decided on : Aug-28-1990
Reported in : 189ITR62(Delhi)
..... briefly stated, the facts are that the premises of one shri r. k. aggarwal were searched pursuant to an authorisation issued under section 132 of the income-tax act. simultaneously a search was also conducted in the premises of his business concerns. at that time, it transpired that there were pay orders dated april ..... . aggarwal and the pay orders of rs. 50,40,000 included the aforesaid amount of rs. 49,03,000. the commissioner of income-tax, delhi ix, and the commissioner of income-tax, delhi x, by two separate orders, accepted the contention of the petitioners and vacated the restraint order. the money, however, was ..... which was paid in january was still available for being put to use in april, 1989. there is no investigation done by the commissioners of income-tax nor have they referred to this aspect. 6. in the instant case, a regular assessment has taken place. an assessment order has been passed ..... not refunded to the petitioners and subsequently, on march 1, 1990, the impugned order was passed by the commissioner of income-tax, delhi ix, in which it has been stated that a assessment had been made in the case of surrinder kumar and the amount in question has ..... were issued by one shri surrinder kumar totaling rs. 50,40,000. these pay orders were issued to hindustan copper ltd. the deputy commissioner of income-tax passed an order under the second proviso to section 132(1) effecting a deemed seizure of these pay orders. intimation was also sent to the manager .....Tag this Judgment!
Court : Delhi
Decided on : Feb-05-1990
Reported in : (1990)84CTR(Del)18; 184ITR121(Delhi)
..... setting aside the order or income-tax officer and directing the income-tax officer pass a fresh assessment. the view of the commissioner of income-tax officer to that the order of the income-tax officer was prejudicial to the interests of the ..... revenue as the income-tax officer had gone into the ..... order under section 263 of the income-tax act, 1961, passed by the commissioner of income-tax as a result of failure on the part of the income-tax officer to make any inquiries regarding genuineness of the alleged gifts ?' 2. there were some gifts from abroad which not taxed by the income-tax officer. the commissioner of income-tax issued notice under section 263 of the income-tax act, 1961, and passed an order .....Tag this Judgment!
Court : Chennai
Decided on : Jun-14-1990
Reported in : (1990)85CTR(Mad)175; 192ITR50(Mad)
..... thanikkachalam, j. 1. in compliance with the directions under section 256(2) of the income-tax act, 1961 (hereinafter referred to as 'the act'), in t.c. nos. 433 of 1979 and 490 of 1977, the tribunal referred the following questions to this court for our opinion ..... chitralaya films, rs. 391 was claimed in respect of kaveri films and rs. 32 was claimed in respect of government of west bengal. according to the income-tax officer, these amounts also related to the discontinued business and, therefore, he refused to allow the same. on appeal, the appellate assistant commissioner confirmed the ..... as stated above, the assessee agreed to reduce the amount to rs. 21,682. this amount was written off on march 31, 1969. the income-tax officer did not allow this amount for the reason that during the previous year relevant to the assessment year under consideration, the assessee did not have ..... the colour laboratory hereunder the above discount was given. according to the income-tax officer, the colour laboratory and the printing department with plant and machinery were already sold to a firm, gemini pictures circuit private limited. therefore, ..... rebate written off in this year related to a discontinued business. on appeal, the appellate assistant commissioner confirmed the disallowance made by the income-tax officer. aggrieved, the assessee filed an appeal before the tribunal. the tribunal, on considering the facts appearing on this aspect, deleted the .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-20-1990
Reported in : (1991)94CTR(Bom)82; 189ITR506(Bom)
..... one question of law. the question reads thus :'whether, on the facts and in the circumstances of the case, the tribunal was right in cancelling the income-tax officer's order under section 140a(3) of the income-tax act, 1961, imposing penalty of rs. 10,700 as ultra vires ?'2. the proceedings relate to the assessment year 1971-72. the tribunal held that the ..... tribunal was right in holding that the failure to pay the tax was not without reasonable cause and that the ratio of the supreme court's decision in hindusthan steel ..... . no order as to costs.notice of motion no. 345 of 1977.in income-tax reference no. 614 of 1976.t.d. sugla j.8. in a reference application filed by the department the assessee sought to raise the following question of law under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the ..... not applicable. since the tribunal was not competent to consider the vires of the act, the tribunal could not have ignored the provisions of section 140a(3), in support, shri jetley placed reliance on our high court's judgment in the case of cit v. shri udaybhan ladharam (income-tax reference no. 114 of 1976-dated january 27, 1987).4. shri mandoli, learned counsel .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-26-1990
Reported in : (1990)92BOMLR340; 188ITR203(Bom)
..... , the petitioners, a registered partnership firm, have challenged the legality and validity of the notice dated march 21, 1984, issued under section 148 read with section 147(a) of the income-tax act. 1961. for the petitioners' assessment for the assessment year 1975-76. the assessment was originally completed under section 143(3) read with section 144b on december 30,1977. this assessment ..... escaped assessment. for the formation of that belief, you require something more than the mere fact of non-filing of return or non-disclosure of what is considered by the income-tax officer to be full particulars. indirect support for the view is available in the decisions of the supreme court in the case of ito v. lakhmani mewal das : 103itr437 ..... -------- ---------- ----------1,30,000 shares were sold at the rate of rs. 56.75 realising rs. 73,77,500 as against the cost price of rs. 4,67,842. subsequently, the income-tax officer felt that full details as to how the value of the bonus shares was computed by the assessees was not furnished at the time of the original assessment. he ..... was set aside by the commissioner of income-tax (appeals), bombay, by his order dated march 24,1979. fresh assessment was completed under section 143(3) read with section 144b on september 24, 1981. both in this and the .....Tag this Judgment!
Court : Mumbai
Decided on : Aug-10-1990
Reported in : (1991)95CTR(Bom)105; 187ITR639(Bom)
..... j.1. by these two petitions under article 226 of the constitution of india, the petitioner-company has challenged the jurisdiction of the income-tax officer to issue notice under section 148 read with section 147(a) of the income-tax act, 1961, for the assessment years 1983-84 and 1984-85.2. the assessment for the assessment year 1983-84 was originally completed ..... facts necessary for the assessments during the course of original assessment proceedings and, therefore, the income-tax officer could not have reopened the proceedings under section 147(a) of the act. reliance in this behalf was placed mainly on the two supreme court decisions in the cases of cit v. burlop dealers ltd. : 79itr609(sc) and ito v. madnani engineering works ltd. : ..... balasubramanian stated on behalf of the department that the two decisions relied upon by learned counsel for the petitioner were not applicable in this case. in both those cases, the income-tax officer had, during the course of original assessment proceedings, accepted the petitioner's claim without making any inquiry and there was, thus no question of his drawing any inference. ..... rs. 1 lakh by letter dated october 30, 1985. the assessments were completed long thereafter, i.e., on october 31, 1985, and march 23, 1987. thus, when the income-tax officer completed the assessments, the necessary material was before him. in my judgment, the supreme court decisions relied upon by shri dastur are squarely applicable to the facts and circumstances .....Tag this Judgment!
Court : Allahabad
Decided on : Jul-10-1990
Reported in : 186ITR556(All)
..... and in view of the time limit prescribed under section 153(1) of the income-tax act, 1961, for completing the assessments, the appellate tribunal was justified in law in upholding the order of the commissioner of income-tax (appeals) directing the income-tax officer to make two separate assessments for the periods january 1, 1977, to ..... entered into with surviving partners. in those circumstances, the assessee submitted that two assessments must be made with respect to the said two periods. the income-tax officer, however, did not agree and made one assessment for the entire calendar year (previous year). against the said order, the assessee filed an ..... jeevan reddy, c.j. 1. the only question raised in this petition is whether the appellate authority had the power to direct the income-tax officer to make two assessments, one for the period january 1, 1977 to october 25, 1977, and the other for the period october ..... appeal which was allowed and the income-tax officer was directed to make two separate assessments for the two periods. the assessee carried the matter to the income-tax appellate tribunal contending that the appellate authority had no jurisdiction to direct a fresh assessment to ..... 254, 262, 263 or 264 or in an order of any court in a proceeding otherwise than by way of appeal or reference under this act; (iii) where, in the case of a firm, an assessment is made on a partner of the firm in consequence of an assessment made .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Oct-31-1990
Reported in : AIR1991SC966; (1991)94CTR(SC)174; 187ITR546(SC); 1993Supp(1)SCC408
..... undoubtedly had, the question of levying any penalty under section 271(1)(a) on the basis of failure to furnish return within time would in no event arise under the income-tax act, 1961. 3. in this view of the matter there is nothing further in these appeals which accordingly are dismissed. in the circumstances of the cases there shall be no orders ..... of the case, the appellate tribunal was justified in holding that by the levy of interest under section 139 of the income-tax act, 1961 the income-tax officer must be deemed to have granted time up to the date of filing the return of income? (2) whether on the facts and in the circumstances of the case the appellate tribunal was correct in holding that ..... the revenue and in favour of the respondent assessee on the ratio of commr. of income-tax, a.p. v. m. chandra sekhar : 151itr433(sc) and thus would not be required to be referred. if this is so, as it has to be, the attempt to ..... the circumstances of the case, the penalty liable within the meaning of section 271(1)(a) shall be with reference to the net tax remaining due and payable at the date of final assessment after deduction of the tax paid under section 140-a/141 2. learned counsel for the parties are agreed that answer to question no. 1 would be against .....Tag this Judgment!