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Judgment Search Results Home > Cases Phrase: rationale Court: income tax appellate tribunal itat pune Year: 1993 Page 1 of about 2 results (0.062 seconds)

Jul 01 1993 (TRI)

Mrs. Mangla S. Paranjape and ors. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Jul-01-1993

Reported in : (1993)47ITD67(Pune.)

..... that case, the bonus shares were issued on september 5, 1961, and they were sold on september 12, 1961, within a week's time. there is no dispute about the rationale of the decision.the point is whether that decision is relevant and applicable to the case of the assessees where 100 per cent. of the shareholdings were transferred en bloc .....

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Mar 12 1993 (TRI)

Assistant Commissioner of Vs. Canara Food Processors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Decided on : Mar-12-1993

Reported in : (1993)45ITD500(Pune.)

1. these appeals by the revenue are consolidated and disposed of by a common order for the sake of convenience, as they relate to same assessee and involve common issue.2. these appeals pertain to assessment years 1984-85, 1985-86, 1986-87 and 1987-88 and arise out of the common orders passed by the cwt (appeals), belgaum for these years dated 26-9-1991. wherein he has cancelled the re-assessments made by the assessing officer for the assessment years 1984-85, 1985-86 and 1986-87 and allowed the appeal for the assessment year 1987-88. according to the cwt (appeals), the assessing officer had no fresh material enabling him to re-open the assessments. even after re-opening, the assets brought to tax would have been exempt under section 40 of the finance act, 1983. revenue is in appeal on the following common grounds, viz. : (1) the order of the cwt (appeals) is opposed to law and facts of the case. (2) the cwt (appeals) erred in cancelling the assessment on the ground that the assessing officer had no fresh material enabling him to re-open the assessment. (3) that cwt (appeals) has failed to consider the fact that even audit objection is an information enabling the assessing officer to re-open the assessment. (4) the cwt (appeals) has failed to consider the fact that no evidence has been produced by the assessee to show that the guest house was used actually as staff quarters for the employees drawing less than rs. 18,000 salary per year and also to show that the assessee's .....

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