Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Sep-28-2007
..... of assessment under section 143(3) in this case. as per the statutory provision of section 151(1) of the i.t. act, the cit's prior approval was obtained on 22.2.2005 before issuance of notice under section 148. 2. thus, it can not be said that the notice is invalid on account of time ..... in consolidated photo & finvest ltd.'s case (supra). that would be subversive of judicial discipline. 15. in hari iron trading co. v. cit ^1, a division bench of punjab and haryana high court observed that an assessee has no control over the way an assessment order is drafted. it was observed that generally, the ..... their lordships from the said decision: 16. applying the principles laid down by the full bench of this court as well as the observations of the punjab and haryana high court, we find that if the entire material had been placed by the assessee before the assessing officer at the time when the original ..... additions/disallowances are made. we agree. 16. applying the principles laid down by the full bench of this court as well as the observations of the punjab and haryana high court, we find that if the entire material had been placed by the assessee before the assessing officer at the time when the original ..... on basis of a high court decision which came to the notice of ao subsequent. vide u.p. state brassware corporation ltd v. cit (2005) (5) mtc 193 (ah). o in asstt. cit v. nitin steel centre it was held that a perusal of explanation 2(b) to section 247 clearly shows that two conditions must .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Lucknow
Decided on : Jun-29-2007
Reported in : (2008)117TTJLuck549
..... be treated as a valid return.we are supported in our view by the decision of hon'ble allahabad high court in parvati devi v. cit 1970, 75 itr-625, (alld) of hon'ble punjab & haryana high court in auto metal engineers v. union of india and also the decision in r.k. chawla's case and mohd. ..... such return as it is non-est. he relied on the decision of special bench of i.t.a.t. in raj kumar chawla's case reported in (2005) 94 itd-01 (sb) for the proposition that section 143(2) is applicable to a valid return and not to an invalid return. he also relied on ..... to him, it could not hove been said that the "credits" represented "undisclosed income" of the appellant, within the meaning of section 68 of the act. 5.1 because the learned cit(appeals) had erred in law and on facts in upholding the following disallowances:-(a) rs. 5,000 : out of factory expenses claimed at rs. 14, ..... assessed the taxable income at rs. 7,87.789 instead, making an addition of rs. 7,23,889 after making adjustments under section 143(l)(a) of the act.as per the adjustments explanatory sheet, appended to the intimation, the assessing of(sic) r recomputed the taxable income at the rate of 40 per cent of the ..... a particular income falls under the head "business income" or "income from other sources". the assessee was only sent an intimation under section 143(1) of the act and the question of examination of the material by the assessing officer did not arise at that stage. thus, there was no question of change of opinion. the .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jan-05-2007
Reported in : (2007)109ITD288(Delhi)
..... unexplained and unestablished. the genuineness of the gift is, therefore, not accepted and treated as undisclosed income of the assessee under section 68 of the income tax act, 1961. this gives an addition of rs. 5,00,000." 4. the counsel for appellants submitted that identical finding has been given by the ..... distinguishable on facts. it was a case of best judgment assessment without issue of necessary notice under section 22(4) of the indian income tax act, 1922. the honble high court held that in absence of any notice under section 22(4) best judgment assessment under section 23(3) of the indian ..... statement of affairs includes receipt of gift to explain various investments made by the appellants. thus the addition was rightly made under section 68 of the act. even if it is held that section 68 is not applicable, various investments are explained by way of receipt of gifts. thus alternatively provision of ..... of the gift to the assessee cannot be accepted. in this we are forfeited by the judgment of the honble punjab & haryana high court in the case of lall chand kalra v. cit (1981) 22 ctr 135/6 taxman 171. in this case the donor was a stranger to the assessee and ..... (appeals), muzaffarnagar, dated 24-2-2005.2. though several grounds are raised, the assessee challenges the addition made to the income being the amount received by way of gift from various donors and also challenges levy of interest under sections 234a and 234b of the act. the ground relating to reassessment made .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : May-25-2007
..... very same time such interest expenditure is required to be reduced from the interest income for bringing the net interest income to tax net under section 56 of the income tax act.9. in view of the above discussion, we are inclined to agree with the learned dr shri r.l. meena that ..... manufacturing and sale of telecommunication equipment the business. he further contended that in the grounds of appeal, the revenue has not disputed the findings of cit (appeals) about the interest as business income. there was no dispute that assessee was an industrial undertaking, entire income was covered for statutory deduction ..... considered as inextricably related to carrying out on business of industrial undertaking and considered for deduction under section 80-ia of the act: 1. assistant commissioner v. maxcare laboratories ltd. (2005) 92 itd 11 (ctk.) the bank interest income was considered as inextricably related to carrying out on of business of ..... of nahar export ltd. v. cit (2006) 288 itr 494 (p&h).7. the issue regarding ..... has been taken in case of cit v. j.b. exports ltd. by the honble delhi high court, wherein decision of madras high court in case of cit v. jameel leathers & uppers (2000) 246 itr 973 (mad) was followed. similar view has been taken by the punjab & haryana high court in case .....Tag this Judgment!
Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Decided on : Oct-22-2007
Reported in : (2008)(125)ECC241
..... which reliance is placed on behalf of the revenue, including the above decisions of the hon'ble high court of bombay and hon'ble high court of punjab & haryana as well as the larger bench decision of this tribunal as also the other decisions, which have followed the earlier decisions, leave no scope ..... 148/-, which were issued in response to their two refund applications dated 07.10.1995.3. the appellant in their written submissions filed on 17.01.2005 had admitted that, the said amounts received again on 01.04.2003 and 22.05.2003 were liable to be given back to the department. it ..... mind and provides for confiscation and penalty resulting from the default contemplated in clauses (a) to (d) thereof. while section 11-ac of the said act provides for penalty, for cases when the requisite mens rea is present, rule 25(1) of the said rules provides for confiscation as well as penalty, ..... without disclosing that it was already taken by making credit entries in their pla. therefore, the ingredients for imposing penalty under section 11-ac of the act are clearly established.9. having regard to the gravity of the conduct of the appellant, there is no scope, on the facts of this case, ..... , in support of his contention that, penalty, lesser than the amount, equal to the duty determined, could be imposed under section 11-ac of the act.7. the learned authorised representative for the department supported the reasoning of the authorities below and submitted that, in view of the decision of the hon'ble .....Tag this Judgment!
Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on : Oct-15-2007
Reported in : (2007)(123)ECC328
..... to the supplier (rejected inputs). the issue of unjust enrichment of such subsequent payment made by an assessee was an issue before the hon'ble high court of punjab & haryana in the case of modi oil & general mills (supra) wherein their lordships on a reference application filed by the revenue held as under. 3 ..... of hearing of the appeal. on the other hand, we find that the hon'ble supreme court's in the case of cce hyderabad v. itc ltd. 2005 (179) elt 15 (sc), by taking note of the board's circular, has ordered payment of interest on refund accruing to the assessee, as a ..... as the duty had been paid on a subsequent date. this has been held to be sufficient to replace the presumption raised under section 12b of the act. therefore, we find that no question of law warranting admission of this matter would arise and accordingly the application filed by the revenue is dismissed.9. ..... find that no question of law would arise warranting acceptance of prayer of the revenue to make a reference to this court under section 35g of the act. the question whether the incidence of duty has been passed on to the buyer is necessarily a question of fact. the commissioner (appeals) as well ..... excise or customs, us the case may be, will suffice for the purpose. all pending refund applications already made under the relevant provisions of the indirect tax enactments for return of such deposits and which are pending with the authorities will also he treated as simple letters asking for return of the deposits, .....Tag this Judgment!
Court : Rajasthan
Decided on : May-16-2007
Reported in : RLW2007(4)Raj3059
..... .1994 but before this date, the voluntary retirement proposal was accepted by the employer on 4.8.1994.11. in punjab and sind bank and ors. v. mohinder pal singh and ors. 2005 air scw 6182, the appellant therein withdrew his offer of voluntary retirement before the same was accepted. he even filed ..... while relieving the petitioner therein by order dated 31.3.1981 it has been mentioned that withdrawal application was considered and was found not acceptable.24. in punjab and sind bank and ors. (supra) the appellant therein did not accept the retirement benefits and therefore, the hon'ble supreme court held that the conduct ..... on by learned counsel for the petitioner in shambhu murari sinha v. project & development india and anr. (supra), balram gupta v. union of india (supra) and punjab and sind bank and ors. v. mohinder pal singh and ors. (supra) turn on their own facts.22. in shambhu murari sinha's case (supra), the ..... do equity. it was accordingly held that those optees who knowingly received the payments and utilized them were not entitled to withdraw from vrs.15. in punjab national bank v. virendra kumar goel : (2004)illj1057sc the applicant bank submitted that some of the optees having accepted the benefits under vrs cannot be permitted ..... still was that a sum of rs. 14,459.21 was paid to him by way of leave encashment of 31 days upon deduction of income tax therefor. but, it is accepted that at no point of time he had been told that the said amount had been deposited in his account as .....Tag this Judgment!
Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Jan-31-2007
..... benefited by massive increase in the share price which enabled them to pledge 14.10 lacs shares @ rs.200/- per share approx. as collateral security with punjab national bank for a compromise settlement. therefore the acts of padmini will establish that it had committed fraud on the general investors.3.50 i also quote regulation 6 of futp regulation for the sake ..... submissions made by various persons whose statements were taken by sebi.2.26 subsequently, an opportunity of hearing was granted to padmini and its directors by sebi on december 15, 2005. however, padmini and its directors had sought for the adjournment of the said hearing.accordingly, another opportunity of hearing was granted to padmini and its directors on august 25, 2006 ..... act was the kerala general sales tax act, 1963. in the said act, as noted by the hon'ble supreme court, there was a provision which empower the concerned person to prove the correctness or completeness of the return ..... is not applicable. further, the case does not proceed on any ipse dixit, but on well - documents, facts as assist the case cited wherein the undisclosed income was brought to tax on the basis of a statement of the manager of the bank.3.17 in the second case relied upon by the senior advocate, the relevant .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Apr-27-2007
Reported in : AIR2007MP182; 2007(3)MPLJ325
..... in islamic academic of education (supra), has determined the fees for mbbs and bds courses for the students admitted during the subsequent the academic years 2004-2005, 2005-2006 and 2006-2007 at much lower figures of rs. 1,64,000/- for r.d. gardi medical college, ujjain, rs. 1,46,000/- ..... raw material from a back date adversely affecting the interest of mangalam timber products ltd. he also cited the decision of the supreme court in state of punjab v. nestle india ltd. and anr. : 269itr97(sc) for the proposition that the doctrine of promissory estoppel was not limited to the ..... the state government under the said act is without jurisdiction. he further submitted that the judgment of the supreme court in unni krishnan j.p. and ors. v. state of andhra pradesh ..... /2003 and w.p. no. 27728/2003 which are private dental colleges in the state of madhya pradesh, submitted that the madhya pradesh chikitsa shiksha act has no application to private dental colleges and therefore the fees of rs. 38,500/- fixed for bds course in the private dental colleges fixed by ..... the supreme court has held that the state government having persuaded mangalam timber products ltd. to establish an industry and mangalam timber products ltd. having acted on the solemn promise of the state government and purchased raw material at a fixed price and also sold its products by pricing the same taking .....Tag this Judgment!
Court : Jammu and Kashmir
Decided on : Oct-08-2007
Reported in : 2008(1)JKJ161
..... instill confidence in the public mind and to do justice to the petitioner and his family it would be proper to withdraw the investigation from punjab police in this case. we, therefore, direct the director central bureau of investigation to appoint an investigation team headed by a responsible officer to ..... a permanent one and was purely of contractual in nature. i worked with mr. raman mattoo as his p.r.o till 28.02.2005 after which i was removed from this post by mr. mattoo. in my place, mr. imtiyaz ahmad bhat was appointed as the p.r ..... at liberty to seek appropriate directions from this court if required for effective and lawful investigation of the case as aforesaid, and shall not act on any incompetent instruction whatsoever; nor shall any authority issue any direction/instruction contrary to lawful requirements of the focused investigation and consequent ..... cause of investigation, which is bound to adversely effect public faith in law enforcing institutions. if any component or functionary of the constitutional machinery acts in contravention of law/norms, he not only brings disgrace to the system but also impairs the credibility of systematic institutions/offices, which can ..... even a fraction only thereof would be a complete horror in itself. 2. pushing innocent minor girls in flesh trade is an extremely treacherous act and if constitutionally acknowledged social and moral commitments mean anything, the traders of this treachery have to be brought to account, irrespective of their .....Tag this Judgment!