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Judgment Search Results Home > Cases Phrase: mediation Court: income tax appellate tribunal itat bangalore Year: 1998 Page 1 of about 5 results (0.061 seconds)

Mar 04 1998 (TRI)

Kirloskar Investments and Finance Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Decided on : Mar-04-1998

Reported in : (1998)67ITD504(Bang.)

..... of this, about 85-90% of the amount is then transferred by the lessee to the assessee as lease rental in advance/deposit and that brokers are shown as having mediated the lease transactions. assessing officer had observed that the lease agreement would invariably contain similar terms and conditions. some of these are, (a) the lease period will be approximately 5 .....

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Mar 17 1998 (TRI)

Microland Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT

Decided on : Mar-17-1998

Reported in : (1998)67ITD446(Bang.)

..... turn be transferred to the account of lessee which again ultimately comes back to the lessor, i.e., the assessee by way of lease rental advance. there would be brokers mediating the process. the ao goes on discussing further that there would be a tacit understanding amongst all the parties that once the lease is finalised and 85% of the purchase .....

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Oct 15 1998 (TRI)

Eskayef Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Decided on : Oct-15-1998

1. in this appeal filed by the assessee against the order of the cit(a), grounds no. 1 & 15 are of general nature, whereas ground no. 14 is merely a summary of a number of other grounds. as such, these grounds do not require any separate attention.in ground no. 2, the assessee contends that the cit(a), erred in upholding the disallowance of rs. 3,006 being subscription fees paid to the clubs by the company. the ao found out that as per the report under section 44ab, the auditors had pointed out that the assessee had incurred above expenditure on clubs. the disallowance was made on the basis of the said audit report. in the first appellate order, the cit(a) mentions that the amount pertains to the subscription fee of the president and the vice-president of the assessee company to various clubs. he upheld the disallowance.the amount being small, must be relating to the subscription fees and cannot include actual expenses towards entertainment by being cost of food or drinks etc. following the judgment of the gujarat high court in the case of gujarat state export corpn. ltd. v. cit [1994] 209 itr 649, we reverse the decisions of the lower authorities and direct that the expenses be allowed as revenue expense.3. ground no. 3 relates to the question of disallowance of share issue expenses to the total extent of rs. 39,35,823. the assessee claimed the same as revenue expenses. the ao discusses in the assessment order that during the relevant previous year, the assessee came out .....

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Aug 11 1998 (TRI)

K.C.N. Chandrashekar Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Decided on : Aug-11-1998

1. the assessee, an individual has filed this appeal aggrieved by the order of the cit(a) dt. 28th august 1997, wherein rs. 6 lakhs stated to be received from mr. b. n. vasudev has been treated as unexplained credit under s. 68 of the it act, 1961 (hereinafter referred to as the act). the second issue relates to the leviability of interests under s.234a, 234b and 234c of the act.2. appearing for the assessee, the learned counsel mr. venkatesan submitted that mr. b. n. vasudev is in noway related to the assessee.he submitted that mr. vasudev is a handicapped person and had advanced the assessee rs. 6 lakhs. the amount was received through proper banking channels and the assessee had obtaining confirmations which were produced during the course of assessment proceedings. the ao, however, was not satisfied with the confirmation because he was of the view that the creditor must indicate the source from which he had advanced the amount to the assessee together with the information about he being assessed under the act, etc. the other reason which compelled the ao to disbelieve the confirmation was that mr. vasudev did not respond to the summons that was issued under the act. mr. venkatesan submitted that mr. vasudev could not attend because of his handicapped confinement, but had filed a letter in response to the summons which had been reproduced by the ao in his order. in this letter, he had stated that the information called for by the ao was three to five years old and he .....

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Aug 11 1998 (TRI)

K.C.N. Chandrashekar Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT

Decided on : Aug-11-1998

Reported in : (2000)66TTJ(Bang.)355

the assessee, an individual has filed this appeal aggrieved by the order of the commissioner (appeals) dt. 28th aug, 1997, wherein rs. 6 lakhs stated to be received from mr. bx vasudev has been treated as unexplained credit under section 68 of the income tax act, 1961 (hereinafter referred to as the act). the second issue relates to the, liveability of interests under section 234a, 234b and 234c of the act.appearing for the assessee, the learned counsel mr. venkatesan submitted that mr. bx vasudev is in no way related to the assessee. he submitted that mr. vasudev is a handicapped person and had advanced the assessee rs. 6 lakhs. the amount was received through proper banking channels and the assessee had obtaining confirmations which were produced during the course of assessment proceedings. the assessing officer, however, was riot satisfied with the confirmation because he was of the view that the creditor must the source from which he had advanced the amount to the assessee together with the information about he being assessed under the act, etc. the other reason which compelled the assessing officer to disbelieve the confirmation was that mr.vasudev did not respond to the summons that. was issued under the act.mr. venkatesan submitted that mr. vasudev could not attend because of his handicapped confinement, but had filed a letter in response to the summons which had been reproduced by the assessing officer in his order. in this letter, he had stated that the information .....

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