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Latest Cases Home > Latest Court: income tax appellate tribunal itat chandigarh Page 5 of about 572 results (0.192 seconds)

Apr 20 2006 (TRI)

income Tax Officer Vs. Kuldeep Sood Enterprises

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)103TTJ(Chd.)573

1. This appeal is by the Revenue challenging the order of the learned CIT(A), dt. 18th Sept., 2002 on the following grounds: 1. That the learned CIT(A)-II, Ludhiana has erred in deleting the penalty of Rs. 2,96,340 imposed by the AO under Section 271(1)(c) of the IT Act, 1961. 2. That the order of the learned CIT(A) be reversed and that of the AO be restored. 3. That appellant craves leave to add or amend the grounds of appeal before the appeal is finally heard or disposed off.2. The only ground raised by the Revenue pertains to deleting the penalty of Rs. 2,96,340 imposed by the AO under Section 271(1)(c) of the Act as ground Nos. 2 and 3 being general in nature, requires no deliberation from our side.3. During arguments, we have heard Smt. Preeti Garg, learned senior Departmental Representative and Shri Sudhir Sehgal and Shri Ashok Goyal, learned counsels for the assessee.4. The major plea of the learned Counsel for the Revenue is that satisfaction has been duly recorded by the AO i...

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Apr 07 2006 (TRI)

Joint Commissioner of Vs. Kwality Cafe and Restaurant (P.)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)105ITD169(Chd.)

1. The appeal of the revenue for assessment year 1996-97 is directed against the order dated 22-3-2000 of Commissioner of Income-tax (Appeals), Chandigarh. The only dispute is relating to the nature of Rs. 55 lakhs received by the assessee on the basis of the agreement(s) executed between the parties, and its taxability.2.The relevant facts in this case are that the respondent family hailed from that part of India which is now in Pakistan and was carrying on the business of manufacture of ice-cream for the past many generations.It was a large family and at the time of partition various branches of the family migrated to India and settled in different parts of India like Shimla, Chandigarh, Delhi, Lucknow, Calcutta, Bombay etc. where every one was carrying on his own business of manufacturing ice-cream and running of restaurants. The Chandigarh branch of the family started manufacturing ice-cream under the brand name "Kwality" and the icecream was being sold in the following territorie...

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Apr 07 2006 (TRI)

The J.C.i.T., Special Range-1 Vs. Kwality Cafe and Restaurant (P)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

1. The appeal of the Revenue for assessment year 1996-97 is directed against the order dated 22.3.2000 of Commissioner of Income-tax (Appeals), Chandigarh. The only dispute is relating to the nature of Rs. 55 lakhs received by the assessee on the basis of the agreement(s) executed between the parties, and its taxability.2. The relevant facts in this case are that the respondent family hailed from that part of India; which is now in Pakistan and was carrying on the business of manufacture of ice-cream for the past many generations. It was a large family and at the time of partition various branches of the family migrated to India and settled in different parts of India like Shimla, Chandigarh, Delhi, Lucknow, Calcutta, Bombay etc.where every one was carrying on his own business of manufacturing ice-cream and running of restaurants. The Chandigarh branch of the family started manufacturing ice-ceam under the brand, name "Kwality" and the ice-cream was being sold in the following territo...

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Mar 22 2006 (TRI)

income-tax Officer Vs. Jitendra Stone Crushing Co.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)105ITD52(Chd.)

1. These two appeals by the Department are directed against the orders of Ld. CIT (Appeals), Palampur, dated 24-2-2005 and 11-2-2004 for the assessment years 2001 -02 and 2002-03 respectively. These appeals having the common grounds were heard together, so arc being disposed of by this common order for the sake of convenience. The common grounds raised in these appeals read as under: 1. The worthy CIT (A) has erred on both the questions of law and facts of the case in allowing the deduction under Section 80-IB of the Income-tax Act, 1961, which was disallowed to the assessee for not fulfilling the conditions for claiming the deduction under Section 80-IB as prescribed under the Income-tax Act, 1961. 2. That the crushing of the big stones (boulders) into small stones (bajri) is only a processing of the stones and not a manufacturing activity. 3. That even after cutting and crushing the stones, it does not lose its original identity as stones and nothing new is produced. Stone crushing ...

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Feb 28 2006 (TRI)

P.A. Time Industries Vs. D.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)103TTJ(Chd.)684

1. This is an appeal by the assessee against the office of the CIT (Appeals) dated 30.11.2004. The following grounds have been raised in this appeal: 1. That the learned CIT (Appeals) Shimla has erred on facts and in law in sustaining the disallowance of deduction Under Section 80IB on the manufacture of 'case sets' by erroneously holding that the process-carried out by the appellant are not manufacturing process as no new characteristic or product comes into existence. 2. That the learned CIT (Appeals) Shimla has erred on facts and in law in sustaining the disallowance of deduction Under Section 801/VIB on lease rental income of Rs. 90,000/- and miscellaneous income of Rs. 10,258/- by erroneously holding that these are not derived from industrial undertaking. That without prejudice to above the addition made/sustained by learned CIT (Appeals) is excessive and unreasonable. 3. That the appellant craves leave to add/amend or delete any ground of appeal before or during hearing of the a...

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Feb 28 2006 (TRI)

Assistant Commissioner of Vs. Shiv Shankar Rice Mills

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)101ITD288(Chd.)

1. This is an appeal by the department against the order of CIT (Appeals), Karnal dated 12-2-2003. The only grievance of the department relates to the deletion of the addition of Rs. 53,76,000 made by the Assessing Officer on account of notional sale of rice-bran and phuck at the market rate which was claimed to have been given to M/s. Balaji Rice & General Mills, Kaithal in exchange of milling of paddy work done and chilka burnt in boiler to prepare Sela rice.2. The facts of the case in brief are that the Assessing Officer, during the course of assessment proceedings noticed that in the trading account, the assessee had not shown sales of by-products of paddy. When the enquiries were made, it revealed that the g assessee had given away rice-bran and phuck to M/s. Balaji Rice & General Mills, Peoda Road, Kaithal in exchange for milling of paddy work done and chilka was burnt in the boiler to prepare 'sela1 rice. The Assessing Officer opined that the rice-bran and phuck given a...

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Feb 24 2006 (TRI)

Asstt. Cit Vs. Amolak Ram Jerath

Court : Income Tax Appellate Tribunal ITAT Chandigarh

1. This appeal is by the revenue challenging the order of the Learned Commissioner (Appeals) on the following grounds : 1. On the facts and circumstances of the case the Learned Commissioner (Appeals) in Appeal No. 322/P/2000-01 vide order dated 11-10-2004 has erred in cancelling the assessment which was framed by the assessing officer under Section 158BC(c) read with Section 158BC and Section 144 of the Income Tax Act, 1961 on the basis of seized documents after allowing more than two years to complete the assessment to the assessee. 2. It is prayed that the order of the Learned Commissioner (Appeals) may be set aside and that of assessing officer restored. 3. The applicant craves leave to add, amend or delete any of the grounds of appeal before the same is taken up for final disposal.2. The Learned DCIT (Inv.) passed an order under Section 158BC(c) read with Section 158BD and Section 144 of the Act dated 30-6-2003 for the block period from 1-4-1987 to 20-11-1997. Search under Sectio...

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Dec 22 2005 (TRI)

income-tax Officer Vs. Keshwa Enterprises (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)100ITD365(Chd.)

1. This appeal is filed by the revenue against the CIT (A) order dated-25-2-2004 on the following effective ground: On the facts and circumstances of the case, the Id CIT (A) vide appellate order No. 181/P/2003-04 dated, 25-2-2004 has erred in allowing setting off of the unabsorbed depreciation allowance of the previous years against the income of the current assessment year i.e., 2002-03.2. In this case as facts culled from assessment order, assessee has sought to adjust carry forward unobserved depreciation for the period prior to assessment year 1996-97 in the relevant assessment year i.e., 2002-03 against the income from house property and short-term capital gain. Assessing Officer on observing that assessee has set off carry forward unabsorbed depreciation in this year against the income under head "Other than business income" and interpreting provisions relating to carry forward and set off of unabsorbed depreciation as enshrined in income-tax which were amended from time to tim...

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Dec 15 2005 (TRI)

A.C.i.T. Vs. H.P. State Co-op. Agriculture and

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)100ITD479(Chd.)

1. Appeal of the Revenue for assessment year 2001-02 is directed against the order dated 4.8.2004 of the CIT(A), Shimla.2. The only effective ground of appeal raised by the Revenue is as under: On the facts and circumstances of the case, the ld. CIT(A) has not right in allowing the deduction Under Section 80(P)(2)(a)(i) by treating the misc. income/vehicle loan, staff HBA/Staff warm clothing loan/overdue interest, interest received on NPA and Security fee, as income incidental to the banking business as the income under these heads is not directly derived from banking business and will not be allowable deduction Under Section 80(P)(2)(a)(i).3. We have heard the parties and perused the records. The relevant facts briefly stated are that the assessee is a cooperative society registered under the Co-operative Societies Act. The society is engaged in lending moneys to its members and had claimed exemption Under Section 80P(2)(a)(i) of the Income-tax Act, 1961. The AO while making the asse...

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Dec 14 2005 (TRI)

A.C.i.T. Vs. Steel Strips Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)108ITD720(Chd.)

1. This is an appeal by the department against the order of Ld. CIT(A), Chandigarh dated 30.9.97. 1. The Ld. CIT(A) has erred both in law and on facts of he case in deleting the addition of Rs. 23,58,000 made on account of non charging of interest on the loans advanced free of interest to sister concern, when the assessee had paid interest to the banks on such borrowings. 2. The Ld. CIT(A) has erred both in law and on facts of the case in deleting the addition of Rs. 1,19,27,429 made by the Assessing Officer on account of transport subsidy received from State Govt. treating the same as revenue receipt.3. As regards to the ground No. 1 is concerned, Ld. Counsel for the assessee at the very outset stated that the issue is covered in favour of the assessee and against the department by the order of Tribunal dated 16.10.2003 in assessee's own case in ITA Nos. 1167 & 1168/Chandi/97 for Assessment years 1992-93 and 1994-95 respectively and vide order dated 12.102004 in ITA No. 929/Chand...

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