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Judgment Search Results Home > Cases Phrase: mediation Court: income tax appellate tribunal itat rajkot Year: 2005 Page 1 of about 2 results (0.033 seconds)

Jun 16 2005 (TRI)

Navalchand Bavchand Danapith Vs. Gift Tax Officer

Court : Income Tax Appellate Tribunal ITAT Rajkot

Decided on : Jun-16-2005

Reported in : (2005)96TTJ(Rajkot.)851

..... separately within six months. the family settlement is evidenced by a deed of family settlement between the family members and is duly supported by affidavits of three well-wishers and mediators. all the prerequisites/essentials of a valid family settlement are duly fulfilled in this case and there is no question of any transfer of property involved in such family arrangements .....

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Jul 15 2005 (TRI)

Assistant Commissioner of Income Vs. Nalanda Housing Development Ltd.

Court : Income Tax Appellate Tribunal ITAT Rajkot

Decided on : Jul-15-2005

Reported in : (2005)98TTJ(Rajkot.)518

1. these are the appeals filed by the revenue against the order of the cit(a) for the asst. yrs. 1991-92, dt. 24th march, 1999 and 1992-93, dt. 17th jan., 1996 in the matter of order passed under section 143(3)/251 and section 143(3), respectively.2. solitary ground of appeal in the asst. yr. 1991-92 relates to cit(a)'s action in deleting the addition of rs. 25,51,227 made under section 69c of the it act, as unexplained investment in the building.3. in the asst. yr. 1992-93, the grievance of revenue relates to cit(a)'s direction in deleting the addition of rs. 50,71,505 made as unexplained investment under section 69 of the it act.4. the brief facts of the case are that the assessee is a private limited company engaged in the business of construction of residential building named "sanjay apartment" situated at survey no. 353, ward no.16, near sardar baug, rajkot. the total cost of construction declared by the assessee during the previous year, relevant for asst. yr.1991-92 is rs. 39,33,779. it is pertinent to mention here that in this case originally order under section 143(3) was passed on 8th march, 1994 wherein addition under section 69c, on account of unexplained investments in the work-in-progress for rs. 25,51,227 was made. in appeal, the cit(a)-i, rajkot, set aside the assessment to be framed de novo after giving the assessee due opportunity of being heard.5. during the course of reassessment as per direction of the cit(a), the ao observed that the assessee has shown .....

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