Skip to content


Judgment Search Results Home > Cases Phrase: the punjab tax on lotteries act 2005 Court: income tax appellate tribunal itat mumbai Page 1 of about 7 results (0.065 seconds)

Aug 22 2007 (TRI)

Smt. Sulochana L. Punjabi Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)111TTJ(Mum.)402

..... precedent have to be satisfied. accordingly, where the premises of a director of a company and his wife were searched under section 132 of the it act, 1961, and a block assessment had to be done in relation to the company, the ao had to (i) record his satisfaction that any ..... upon mrs. shobha ahuja and some seized materials were found. the ao of mrs. shobha ahuja framed the block assessment under section 158bc of the it act and made certain additions on the basis of the seized materials. at the time of framing of the block assessment under section 158bc, the ao ..... of mrs. shobha ahuja has written various letters in this regard, it amounts to proper satisfaction before invoking the provisions of section 158bd of the act.7. we have heard the rival submissions and carefully perused the orders of the lower authorities and the documents placed before us.8. undisputedly, ..... , the learned counsel for the assessee has challenged the validity of the block assessment framed under section 143(3) r/w section 158bd of the it act at the threshold, for the reasons the provisions of section 158bd were not invoked in accordance with law. before invoking the provisions of section 158bd ..... 670 : (2004) 91 itd 118 (bang)(sb); (iii) sakun international v. jt. cit (2005) 96 ttj (del) 496 : (2005) 94 itd 138 (del); (iv) janki exports international through s.p. gupta v. union of india (2005) 193 ctr (del) 730 : (2005) 145 taxman 82 (del).6. the learned departmental representative on the other hand has submitted .....

Tag this Judgment!

Feb 25 1999 (TRI)

Smt. Rajrani Gupta Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)72ITD155(Mum.)

..... the owner and seized and possessed of or otherwise and sufficiently entitled to a building property situated at and known as "monalisa", mall road, distt. bhatinda, punjab being the commercial premises, single storied building, total area adm. 2,528 sq. ft." having held on the basis of the above narration in the general ..... acquisition of as many as 15 properties by the family members within a period of about five to six years of their migration to bombay from punjab and the receipt of gifts to the tune of rs. 40 lakhs by the various family members as well as the seizure of cash of ..... relationship with the donors, as alleged by the appellant, in a short span of three to four years after their coming to mumbai from bathinda, punjab. it is also mentioned that the gifts received from the nris have no relevance to any particular occasion like marriage or birthday and there was ..... . sohanlal gupta (huf)" in which all the abovementioned persons are members. the entire family was residing at bathinda, punjab, upto mid-july 1991. because of the terrorist activity in the state of punjab, they moved to bombay in 1991, where the appellant has been running the aforesaid sex and health and beauty clinics ..... account books of the family members were unproved and as such be brought them to tax along with the premium thereon as the income of the respective family members, apparently under the provisions of s. 68 of the it act.7. before us, the learned counsel for the appellant invited our attention to the .....

Tag this Judgment!

May 25 1999 (TRI)

Jhantala Investments Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)73ITD123(Mum.)

..... other shareholders were bogus and unbelievable and the subscription amounts represent nothing but unexplained investment of the assessee-company which justifies the addition under section 68 of the income-tax act. before dealing with this issue, even the broad probabilities if taken into consideration would not justify any addition under section 68. we have already catalogued the various ..... public issue of 1,70,000 shares, the issue was oversubscribed inasmuch as 206950 share applications were received. necessary remittances along with the share applications received by the punjab national bank and canara bank were enclosed to the reply under reference. after the receipt of applications, the basis for allotment was intimated to bombay stock exchange ..... . they belonged to ahemdabad, bangalore, bombay, calcutta, cochin, hyderabad, indore, madras, new delhi. on 15-10-1981, the assessee's bankers to the issue, namely, punjab national bank gave details of collection from their branches as follows : 3. the bankers certified that no applications were pending with their branch and the total amount received from the ..... of directors, inter alia, comprised of shri ravindra kumar mansingka of amaravati, state bank of india, backbay reclamation scheme, nariman point, bombay were the bankers to the company, whereas punjab national bank, foreshore road (gen. j. bhosle marg), bombay, and canara bank, regent chambers, nariman point, bombay were the bankers to the issue. besides several other individual .....

Tag this Judgment!

Apr 25 2007 (TRI)

ito Vs. Smt. Anjali Mehra

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the capital gains arising on the sale of the said shares was claimed to be exempt by availing the deduction under section 54f of the income tax act on account of investment in another residential property during the years under consideration. the said exemption claimed by the assessee was denied by the assessing ..... which are used as cattle-sheds, is not fetching any income to the minors, and the proposed lease of the petition schedule property in favour of punjab state electricity board, on lease on a rental value of rs. 2,000 per year for the period of fifty years, fetches a lump sum ..... or occupied; that the petitioner is not getting any rents or income from those houses and sheds; that the property is within the compound of punjab state electricity board; that the property is not utilized for any other purpose....the district judge after consideration of the petition had held as under: ..... plot of land at harnala where no farm-house or any other house existed. the assessee further stated that the land at harnala was leased to punjab state: electricity board (pseb) and certain residential buildings have been put up by the board for its staff quarters. the assessee filed a letter dated ..... submissions.5. the brief facts of the case are that during the year under consideration, the assessee had claimed exemption under section 54f of the income tax act against income from capital gains on sale of shares of mahindra & mahindra ltd., amounting to rs. 1,52,18,000. the said exemption claimed .....

Tag this Judgment!

Nov 22 2005 (TRI)

G.G. Diamond International Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)104TTJ(Mum.)809

..... court held that this section is not arbitrary and does not infringe fundamental right to carry on business.63. coming to the decision of the hon'ble punjab & haryana court in the case of chanana associates (supra), in this case the assessee did not produce any material to show that the belief that ..... high court in the case of chanana associates v. cit .aggrieved by the above order, assessee is in appeal before the tribunal.32. learned counsel for the assessee submitted, there ..... , veni gems, rough stone, girish diam, shree nakoda exports and neha gems were all questioned. assessee was provided copy of the remand report on llth march, 2005. assessee, in reply, submitted, though the ao was requested vide letter dt. 10th sept., 2004 to provide opportunity to cross-examine, however, ao chose the dt ..... be treated as a notice under section 251(2) of it act, 1961 and your reply in this regard should be filed on or before 15th march, 2005.25. in response to the above notice, assessee further submitted that the ao was never directed by the cit(a) to re-examine the parties, which he has ..... the case of cit v. banwarilal banshidhar (1998) 148 ctr (all) 533 : is distinguishable on facts. on the other hand, he confirmed the disallowance relying upon the decision of the hon'ble supreme court in the case of attar singh gurmukh singh v. ito and the decision of the hon'ble punjab & haryana .....

Tag this Judgment!

Aug 09 2007 (TRI)

Asstt. Cit, Rg. 4(1) Vs. Claridges Investments and

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the decision of itat mumbai 'h' bench in ita no. 2323 /mum./2002 and of itat delhi in the case of maruti udyog ltd. v. dy. cit (2005) 92 itd 119 (delhi).48. on consideration of the arguments on both sides we hold that the assessee should succeed on this point. the entire expenditure is of ..... in the case of eicher ltd. (supra) was squarely applicable.18. the learned counsel then referred to the decision of maruti udyog ltd. v. dy. cit (2005) 92 itd 119 (delhi). it was pointed out that in that case the tribunal has held that the burden of proof is on the person who alleges the ..... exchange v. jaya i. shah (2003) 185 ctr (sc) 36. he also relied upon the decision of itat delhi in the case of asstt. cit v. subhash chand shorewala (2005) 91 ttj (delhi) 57.66. we have carefully considered the rival submissions. the disallowances/additions made by the assessing officer in relation to the transactions ..... schemes aggregating to rs. 11,14,36,242 that were claimed exempt from tax under section 10(33) of the act. the assessing officer noted that the entire investment of rs. 80 crores had been drawn from the overdraft accounts with bank of punjab. he worked out interest attributable at rs. 17,98,947 on borrowed ..... to the decision of the tribunal in the case of shaw wallace & co. ltd. v. dy. cit (2002) 80 itd 156 (cal) and of madhya pradesh high court in the case of state bank of lndore v. cit (2005) 275 itr 233 (mp). in the instant case neither the assessing officer nor the commissioner (appeals) had .....

Tag this Judgment!

Apr 26 2006 (TRI)

Uttamchand P. JaIn Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)103ITD1(Mum.)

..... same having already been made the subject of declaration under section 24 of the finance (no. 2) act, 1965 by the creditors and taxed thereunder. the aforesaid decision has been followed by the hon'ble punjab and haryana high court in cit v. meera & co. .it is thus evident that genuineness of sale transaction by which diamonds declared ..... in the second appeal, the jm opined to delete the addition by stating that the facts were undoubtedly identical with those of mohanlal r. daga v. ito (2005) 92 ttj (mumbai) 1236 and there was no reason to take a different view. the am discussed the matter in detail and held that the facts stated ..... (i) order dt. 22nd sept., 2004 passed by mumbai "c" bench of the tribunal in mohanlal r. daga v. ito which has now been reported in (2005) 92 1tj (mumbai) 1236. the submission of the assessee is that the issue in hand is covered by the said order of the tribunal in his favour. the ..... identical with those of the cited case, we have no reason to take a view different from that taken by the tribunal in the aforesaid case, i.e., (2005) 92 ttj (mumbai) 1236 (supra). we, therefore, respectfully follow the aforesaid decision of the tribunal and hold accordingly, i.e., we delete the addition.5. ..... 'c bench of mumbai tribunal in the case of mohanlal r. daga v. wo ita no. 7963/mum/2003 for asst. yr. 1998-99 reported in 2005) 92 ttj (mumbai) 1236, and has furnished a copy of the same. he has contended that the facts of present assessee are identical with those of the .....

Tag this Judgment!

Mar 31 2008 (TRI)

Deputy Commissioner of Income Tax Vs. Ardeshi B. Cursetjee and Sons Lt ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)115TTJ(Mum.)916

..... income was received or deemed to be received in india by abc dsl, nor any income accrued or arose to them in india. the hon'ble punjab & haryana high court held in the case of cit v. punjab tractors co-operative multipurpose society ltd. (1997) 142 ctr (p&h) 20 : (1997) 95 taxman 579 (p&h) that in the case of rendering of ..... section 148 was issued in time and the assessments were completed within the prescribed time frame. the learned departmental representative also contended that the provisions of section 147 of the act were amended w.e.f. 1st april, 1989. according to the learned departmental representative, absence of any evidence regarding payment of commission to abc dubash shipping ltd., in search proceedings ..... the decision taken by the cit(a) in the asst. yr. 1999-2000.21. we have heard the rival submissions and ..... counsel for the assessee relied on the following authorities:indopel garments (p) ltd. v. dy. cit (2001) 72 ttj (mad) 702 : (2003) 86 itd 102 (mad);along auto & general engineering co. (p) ltd. v. dy. cit (2005) 97 ttj (del) 778;nqa quality systems registrar ltd. v. dy. cit (2005) 92 ttj (del) 946; 20. the learned departmental representative, on the other hand, fully supported .....

Tag this Judgment!

Apr 16 2008 (TRI)

Asst. Commissioner of Income-tax Vs. Star India Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)117TTJ(Mum.)577

..... singhania v. cwt 207 itr 1 (sc). in that case, the court was concerned with the issue of valuation of shares under the wealth tax act. section 7 of the wealth tax act provided the mechanism of valuation of the property. such provision was subject to the rules. the court held that valuation must be made as ..... conditions stated in that section were satisfied. reliance was placed on various decisions namely, b.b. ramchandrappa 191 itr 34 (karnataka), allied metal products 137 itr 689 (punjab), ramkrishna steel rolling mills 95 itr 97 (delhi), installments supply pvt. ltd. 149 itr 52 (delhi) and modi spining and weaving mills ltd. 200 itr ..... india by the appellant during the assessment year was rs. 3,67,600/- only he claimed a deduction in terms of section 80hhc of the income-tax act, 1961 in respect of the export income. on the basis of these facts, the assessing officer rejected the claim of the assessee on the ground that ..... years, on the ground that this expenditure was not incurred wholly and exclusively for the purpose of business as provided in section 37 of the act. on appeal, the learned cit (a), following his orders for the earlier years, allowed partial relief to the tune of rs. 6,33,97,222/-. aggrieved by the ..... anr. 249 itr 219 (sc). kadri mills (cbe) ltd. 76 ttj 38 itat order in the case of mckinsey knowledge center ita no. 4382/del/2005 dt. 23/11.2007.31. alternatively, it is contended that if receipts are held to be excluded out of the profits of business then it should be 90 .....

Tag this Judgment!

Nov 14 2007 (TRI)

First Global Stockbroking (P) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)115TTJ(Mum.)173

..... learned counsel for the assessee and gone through the written submission filed by him. the special bench of the tribunal in the case of promain ltd. v. dy. cit (2005) 95 ttj (del)(sb) 825 : (2005) 95 itd 489 (del)(sd) has held that the tribunal cannot consider and decide the issue relating to validity of search. the tribunal has also observed that ..... year 2000-01 from m/s fgsbl are as follows: ____________________________________________________________________| date | cheque | amount | bank details || | no.| | ||__________|_________|___________|___________________________________||7/02/2001 | 715253 | 10,00,000 | bank of punjab, fort branch ||8/02/2001 | 123631 | 10,00,000 | bank of india, stock exc. branch ||14/02/2001| 123633 | 20,00,000 | bank of india, stock exc. branch ||28/02 ..... serving has already been completed or it was done and may be (but not necessarily is) continuing. harbhajan singh v. state of punjab air 1973 p&h 31, 33 [punjab co-operative societies act (25 of 1961) section 26b(2)] similar is the explanation in the judicial dictionary, 13th edition by shri k.g. iyer. thus in the light of the above ..... of the appellate order. it would not be out of place to mention here that the rigorous and strictness of marshaling the evidences as per the evidence act, 1872 are not applicable to income-tax proceedings as discussed in detail under para 14 of the appellate order. it is further seen that such documents have neither been explained during assessment proceedings nor .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //