Court : Patna
Decided on : Dec-10-2002
..... failure by the assessee accused to comply with the notice under section 158bc read with section 158bd and under section 142(1) of the income-tax act, the assessment under section 144 of the income-tax act was made and the amount of tax payable by the firm was determined at rs. 2,42,31,471. the further case of the petitioner is that during the assessment ..... partners but no response was received from them, and complaint case was instituted for the offence against the firm and its partners under sections 276c, 277 and 278 of the income-tax act on december 24, 1999 (annexure 1). the prayer of the opposite party for regular bail was rejected by the second additional sessions judge, patna, on march 28, 2001 (annexure 2 ..... . according to the case of the petitioner, the opposite party is one of the partners of birsa live stock feeds and additives and a search under section 132 of the income-tax act, 1961, was conducted in the case of sanwin pharmaceu-ticals and during such search some documents pertaining to the assessee were seized and notices were sent to all the partners ..... assessments in the case of the opposite party were made protectively under the provisions of section 158bc of the income-tax act and the same were made substantively in the hands of dr, gauri shankar prasad and the scheme of protective assessment only authorises the income-tax authority to make a parallel assessment only to safeguard the interest of the revenue until a final finding .....Tag this Judgment!
Court : Patna
Decided on : Dec-18-2002
..... present writ application for quashing the demand notices dated november 4/10, 1999, passed by the deputy commissioner of income-tax, circle-2(1), patna, (respondent no. 4), with regard to charging interest under section 245d(6a) of the income-tax act, 1961 (for short 'the act') for the period may, 1999, to october 1999, as well as for quashing the order passed by the assistant ..... commissioner of income-tax, circle 1, patna (respondent no. 5), dated april 18, 2002/may 2, 2002, rejecting the grievance petition dated ..... of the present writ application are that the petitioner is a doctor engaged in a private practice since 1989. on august 10, 1994, the income-tax department made a search and seizure operation on his premises and found undisclosed income. the petitioner filed an application on february 2, 1995, for settlement of the cases for the assessment years 1991-92 to 1994-95 ..... assessee is liable to pay interest. the case in hand is quite different one. here the settlement commission determined the amount of tax and interest but left the actual calculation to be done by the assessing officer on the total income as aforementioned and interest to be charged as per direction contained in the order. this calculation was done and, thereafter, the .....Tag this Judgment!
Court : Delhi
Decided on : Jul-22-2002
Reported in : 99(2002)DLT610
..... d.k. jain, j.1. this is an appeal by the revenue under section 260a of the income-tax act, 1961 (for short 'the act') against the order of the income-tax appellate tribunal, delhi bench-a, delhi, (for short 'the tribunal') dated 21 november 2001, passed in ita no. 7077/del/1994, pertaining to the assessment year 1991-92, for determination ..... depend on the facts and circumstances of a particular case. 8. dealing with the expression 'adventure in the nature of trade' in raja bahadur kamakhya narain singh v. commissioner of income tax, bihar & orissa : 77itr253(sc) the apex court observed that if the transaction is in the ordinary line of assessed's business there would hardly be any difficulty in concluding ..... . the question of distinction between a capital sale and an adventure in the nature of trade was considered by the supreme court in g. venkataswami naidu & co. v. commissioner of income-tax 0065/1958 : 35itr594(sc) , wherein it was said that the character of transaction cannot be determined solely on the application of an abstract rule, principle or test but must ..... to discover whether it was in the nature of trade. similar views were expressed by the supreme court in commissioner of income-tax, nagpur v. sutlej cotton mills supply agency ltd. : 100itr706(sc) . 9. having perused the orders of the cit(a) and the tribunal, in the light of the aforenoted broad principles, we are of the view that both the authorities .....Tag this Judgment!
Court : Rajasthan
Decided on : Aug-02-2002
Reported in : 259ITR132(Raj)
..... given. in his view, when the income has been shown in the revised return, that has been shown after seizure, therefore, if the cash amount of ..... 1)(c) have been initiated for concealment of income and furnishing inaccurate particulars of income. the case of the assessee was that he disclosed the concealed income voluntarily, i.e., rs. 5,92,340, therefore, no penalty is leviable under section 271(1)(c) of the income-tax act, 1961. he is not satisfied with the explanation ..... to rs. 5,92,340 was seized by the police thana, sikar, from the appellant on april 8, 1992. a panchnama was drawn by the income-tax department on april 9, 1992, and the said cash was requisitioned and taken into possession. consequent to the seizure, the statement of the appellant was ..... for the assessee has not suggested in this case what type of material should be brought on record by the income-tax officer for imposing penalty under section 271(1)(c) of the act of 1961. 17. when the income has been surrendered after seizure, it cannot be said that the assessee has surrendered the ..... lordships in the case of cit v. anwar ali : 76itr696(sc) has undergone a change after insertion of the explanation to section 271(1)(c) reads as under : 'where in respect of any facts material to the computation of the total income of any person under this act,-- (a) such person fails .....Tag this Judgment!
Court : Mumbai
Decided on : Sep-04-2002
Reported in : 262ITR60(Bom)
..... s.h. kapadia, j.1. the department has come in appeal under section 260a of the income-tax act, 1961 (hereinafter referred to, for the sake of brevity, as 'the said act'), against the judgment and order of the tribunal dated may 30, 2000, cancelling the penalty levied by the assessing officer, amounting to rs. 1,83,310.facts :2. the assessee ..... case : 251itr99(sc) .conclusion :10. in the circumstances, the following order is passed.order 11. the impugned judgment and order dated may 30, 2000, passed by the tribunal in income-tax appeal no. 8412/bombay of 1992 is hereby set aside and the matter is remitted back to the tribunal for de novo decision in accordance with law.12. the appeal ..... the supreme court without any separate invocation by the department, then the case will have to be looked into from a different angle altogether. in this case, the commissioner of income-tax (appeals) came to the conclusion that the assessee had deliberately supplied inaccurate particulars. this decision was reversed by the tribunal on the ground of there was no invocation of the ..... proceedings. that, the assessing officer had not invoked the said explanation even while imposing the penalty, whereas the commissioner of income-tax (appeals) had sustained the penalty mainly by relying upon the explanation. the tribunal further held that the commissioner of income-tax (appeals) was wrong in sustaining the penalty because no show cause notice was given by the assessing officer invoking the explanation .....Tag this Judgment!
Court : Delhi
Decided on : Apr-23-2002
Reported in : 2002VIIAD(Delhi)652; 98(2002)DLT729; 256ITR593(Delhi)
..... to for opinion of this court by the income tax appellate tribunal in terms of section 256(1) of the income-tax act is as under: 'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in confirming the order of the cit (appeals) and upholding that the provisions of rs ..... behalf of the revenue would submit that the question is covered by a division bench decision of this court in itr 147/81 - the commissioner of income tax, delhi v. vishal builders pvt. ltd. dismissed on 19th december 2001. the learned counsel would contend that from the order of the tribunal dated 21st ..... allowance, if at all these are admissible can be considered at the time of its payment. '4. an appeal was made be the revenue to the income tax appellate tribunal on the following grounds: (a) the assessed in this case is not expected to be liable for this expense; and (b) any further ..... these are admissible can be considered at the time of its payment.'3. the assessed preferred an appeal there against which was allowed by the commissioner of income tax stating: 'no registration has yet been done and only provision of rs. 97,049/- is made. this cannot be allowed now as there is no ..... of determining the profit and loss during the relevant assessment year. in support of the said contention, reliance has been placed on commissioner of income-tax, bombay city i v. lever brothers (india) ltd., : 37itr140(bom) , metal box company of india ltd. v. their workmen, : (1969) .....Tag this Judgment!
Court : Delhi
Decided on : May-22-2002
Reported in : 257ITR1(Delhi)
..... commissioning of these for which a remittance of us $ 50,000 was to be made. the asses-see made an application under section 195(2) of the income-tax act, 1961, seeking no objection for the remittance without deducting any tax at source (tds).2. the assessing officer observed that the activity of the italian company falls under section 9(l)(vii) and be ..... correctly observed and relevant portion of the judgment reads as under :'on a careful consideration of the facts of the case, we are in agreement with the learned commissioner of income-tax (appeals) that the foreign company, rotomac (spa), cannot be held to have a permanent establishment and since the period of stay of their technicians in india is not more than ..... years, in view of the provisions of article 15 read with article 5(2)(h) of the dtaa, the said company is not liable to pay tax in india. incidentally, this view finds support from the income-tax appellate tribunal's order dated september 10, 1991 (supra), relied upon by the asses-see. we, thereforee, hold that the assessed was not liable to ..... deduct tax under section 195(2) of the act on the amounts remitted by it to the foreign company in the two years under consideration.'in our considered opinion .....Tag this Judgment!
Court : Delhi
Decided on : May-18-2002
Reported in : (2002)176CTR(Del)294; 101(2002)DLT89; 257ITR88(Delhi)
..... s.b. sinha, c.j.1. these references were made at the instance of the revenue under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), by the income-tax appellate tribunal, delhi bench 'b', delhi (hereinafter referred to as 'the tribunal'), for the opinion of this court on the following question :'1. whether, on the facts and in the ..... for this year also. 6. during the year under consideration, the assessed claimed remuneration of the managing director at rs. 56,412 which was not allowed by the income-tax officer. the commissioner of income-tax (appeals), however, allowed the claim in full and as the payment was below rs. 72,000 held to be allowable and justified in the earlier assessment year 1974 ..... consideration the assessed purchased a car for rs. 18,000. the car was insured under the motor vehicles act with effect from january 22, 1976. the car was utilised by the company. the assessed, thereforee, claimed depreciation which, however, was rejected by the income-tax officer on the reasoning that the benefit of depreciation can be allowed only to the owner of the ..... circumstances of the case, the income-tax appellate tribunal was correct in law in holding that depreciation on a vehicle which is not registered in .....Tag this Judgment!
Court : Kerala
Decided on : Dec-04-2002
Reported in : (2003)182CTR(Ker)315; 266ITR213(Ker); 2003(1)KLT433
..... appeal is whether before passing an order under section 142(2a) of the income tax act, the assessing authority should hear the assessee. the brief facts of the case are the following:-2. the respondent assessee is a firm engaged in the business of chitty. it filed the returns of income for the assessment years 1998-99 and 1999-2000 respectively on 7.3 ..... & co., xxix/200, bank road, alwaye, who has been nominated by the 2nd appellant and to furnish a report in form no. 6b as prescribed in r. 14a of the income tax rules along with the additional comments, if any, on the auditor's report duly signed and verified by it on or before 1.11.2000. it was stated in ext ..... . reliance was placed on the decisions in 'swadeshi cotton mills company ltd v. commissioner of income tax' : 171itr634(all) , 'peerless general and investment co. ltd. v. deputy commissioner of income tax' : 236itr671(cal) , 'pradeep maheswari v. commissioner of income tax' : 250itr453(ker) and 'living media ltd. v. commissioner of income tax' : 255itr268(sc) . the relevant statutory provision to be interpreted in this case is .....Tag this Judgment!
Court : Mumbai
Decided on : Apr-03-2002
Reported in : 2002(4)BomCR511; (2002)175CTR(Bom)443; 256ITR395(Bom)
..... vyas appears for the respondents.2. this appeal, at the instance of the revenue under section 260a of the income-tax act, 1961, seeks to challenge the judgment and order passed by the income-tax appellate tribunal dated january 14, 1999.facts in brief 3. the facts leading to this appeal and the grounds ..... are not fundamental, basis to the issue ? (f) whether the interest attributable to the borrowings for investments in tax-free bonds is allowable under section 36(1)(iii) of the income-tax act as the said borrowings are not for the purpose of business ? (j) whether the expenses incurred by the respondent ..... towards maintenance of guest house can be allowed as deduction under section 37(4) of the act ?' 4. the rest of the questions ..... adversely affect the operation of the fertilizer plant at babrala. 5. this order of the assessing officer has been mechanically confirmed by the commissioner of income-tax (appeals), mumbai. as against this, the appellate tribunal has culled out the propositions of law based on various judgments of the apex court ..... 36(1)(iii) and section 37(4) of the act.being aggrieved by the order of the assessing officer passed on march 24, 1995, an appeal was preferred by the respondent. the same came to be dismissed by the commissioner of income-tax (appeals) by his order dated march 27, 1996.being .....Tag this Judgment!