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Jan 31 2008 (TRI)

Kakade Construction Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)115TTJ(Pune.)834

1. This appeal by the assessee is directed against the order passed by the CIT-II, Pune Under Section 263 of the Act for asst. yr. 1999-2000 dt. 3rd Oct., 2003. 1. The learned CIT erred in assuming jurisdiction Under Section 263 and his order holding that the assessment order was erroneous and prejudicial to the interest of Revenue is bad in law and factually unjustified. It is submitted that this said order be quashed. 2. The learned AO has seized of the fact that the assessee had made declaration of additional value of WIP to the extent of Rs. 41,00,000 and on that ground he had by applying his mind added Rs. 8,48,499 to the income. The learned CIT erred in discretion in place of that of AO his order Under Section 263 is therefore unsustainable in law and facts. 3. The appellant craves leave to add, alter, omit or substitute any of the above ground at the time of hearing of the appeal.3. Subsequently, the assessee submitted an application dt. 14th March, 2007 requesting for permissi...

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Jan 31 2008 (TRI)

Western Maharashtra Development Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)114TTJ(Pune.)54

1. The short issue that we are required to adjudicate in this appeal is whether or not the CIT(A) was justified in confirming the addition of Rs. 2,77,26,740 on account of accrued interest on seed money loans. The assessment year involved is 2002-03 and the impugned assessment is framed under Section 143(3) of the IT Act, 1961.2. The assessee before us is a corporation wholly owned by the Government of Maharashtra. The assessee is engaged in various activities aimed at development of industries and promotion of industrialization in western region of the Maharashtra State. In the course of scrutiny assessment proceedings, the AO noticed that while the assessee had maintained books of accounts on accrual basis in respect of all items of accounts, the assessee has accounted for interest on seed money loan/assistance on cash basis. The AO also noted that this factual position is admitted by the assessee in the notes attached to, and forming part of the annual accounts which, inter alia, s...

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Sep 28 2007 (TRI)

John Deere Equipments Pvt. Ltd. Vs. Income Tax Officer (Tds)

Court : Income Tax Appellate Tribunal ITAT Pune

1. The only issue raised in these appeals is whether or not the CIT(A) was justified in sustaining the impugned demands raised by the Assessing Officer (TDS) under Sections 201(1) and 201(1A) of the Income Tax Act. 1961. The relevant assessment years are 2001-02 to 2005-06.2. During the course of hearing, it was, inter alia, noticed that there are no tax demands on the recipient of the amounts from which taxes were alleged required to be deducted, nor the authorities have invoked primary taxability in the hands of the recipient In the assessment years in question, and yet the appellant is being held to be an assessee in default in respect of non deduction of tax at source from the payments made to the recipient. When attention of the learned Departmental Representative was invited to this aspect of the matter, he submitted that the assessment of income embedded in the impugned payments has not yet reached finality and particularly so in respect of the assessment year in which the tax ...

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Sep 28 2007 (TRI)

Bhagwandas Associates, Trade Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

1. This appeal is at the stance of the appellant assessee directed against the order of CIT(A) II, Pune dt. 21.12.2004. On perusal of the grounds raised, the issue could not be spelt-out correctly, hence the A.R. Mr. S.N. Puranik was asked to clarify the issue in plain language in the beginning itself.2. Learned A.R. has explained that precisely the issue is that at the time of giving effect to an order of ITAT, Pune, the A.O has tried to rectify a mistake which was committed at the time of framing the original assessment. Thus the short but interesting issue raised before us is that whether a mistake which was otherwise rectifiable Under Section 154 of IT. Act can be cured or adjusted at the time of giving effect of an appellate order Under Section 250/254; admittedly when that mistake was absolutely out of the context and purview of the said appellate order rather not even remotely connected with the subject-matter of appeal? 3. For the sake of putting on record the amounts involved...

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Sep 26 2007 (TRI)

U.B. Engineering Ltd. Vs. Jt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)1113ITD577(Pune.)

1. When this appeal originally came up for hearing there was a difference of opinion between the Members then constituted the bench on the following question: Whether on the facts and circumstances of the case, the AO was justified in rejecting the assessee's application under Section 154 of the Act? 2. While the Accountant Member was of the view that the appeal of the assessee is to be allowed, the Judicial Member expressed his opinion that the appeal is to be dismissed. On account of this difference of opinion, the matter was referred for the opinion of a Third Member. The Hon'ble Vice President(MZ) Shri K.P.T. Thangal was appointed Third Member in this case, and he has, vide order dated 19.09.2007 expressed his view concurring with the learned Judicial Member. In accordance with the majority view, therefore, the appeal is dismissed. It was so pronounced in the open court today.1. Since there was a difference of opinion between the two Members, the matter was referred to the Hon'ble...

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Sep 26 2007 (TRI)

Assistant Commissioner of Income Vs. Aurangabad Holiday Resorts P.

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2007)111TTJ(Pune.)741

1. The assessment order impugned in these cross appeals is passed by the CIT(A) in the matter o' block assessment proceedings. One o' the grievances raised by the assessee in his appeal is as follows On the facts and circumstances of the case, the learned Commissioner (Appeals) erred in rejecting the appellant's contention that the notice under Section 143(2) having been issued beyond a period of 12 months from the end of the month in which the block returns were filed, the assessment of income of the block period was invalid and without jurisdiction.2. Learned Counsel for the assessee, as a preliminary issue, raises this grievance and submits that the issue is now covered by the judgment of Hon'ble Gauhati High Court in the case of Bandana Gogo v.CIT 289 ITR 28. Their Lordships have held that when the Assessing Officer does not issue notice under Section 143(2) within one year from the end of the month in which block return is filed, it cannot be open to him to start the scrutiny ass...

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Aug 31 2007 (TRI)

Darshan Enterprises Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)113TTJ(Pune.)857

1. This appeal by the assessee is directed against the order of the CIT(A) dt. 13th Sept., 2004, confirming the penalty of Rs. 89,530, under Section 271(1)(c) of the Act, for asst. yr. 2000-01. (1) The learned CIT(A) erred in confirming penalty under Section 271(1)(c) of Rs. 89,530 on the ground that the appellant had offered additional income in the return only after the survey operation wherein it was found that the appellant had maintained the books of accounts for its business and the profit as per the books was higher than the presumptive profits as per the provisions of Sections 44AE and 44AF of the Act while the appellant had shown in the return the presumptive profit as per these provisions only. The appellant had maintained the books to note the receivable and payables in the business and not necessarily for determining the income. The appellant was under a bona fide impression that under the provisions of Sections 44AE and 44AF, there was no obligation for the appellant to d...

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Aug 25 2007 (TRI)

Sanghvi Movers P. Ltd. Vs. Dy. C.i.T. Special Range-3

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)110ITD1(Pune.)

1. On account of difference between learned Members of Pune, A-Bench, the following points have been referred to me Under Section 255(4) of the Income-tax Act, for consideration and disposal, in accordance with law: 1. Whether, under the facts and circumstances of the case, there was an existence of contract of hire between the parties in the previous years relevant to the assessment years 1991-92 and 1993-94. 2. Whether, under the facts and circumstances of the case, for the purposes of depreciation, the hiring of machinery was with effect from the date of transportation of machinery started or from the date when the hire charges had actually been paid. 3. Whether, under the facts and circumstances of the case, the actual use of machinery in the hands of the assessee started when the machinery was dispatched to its destination or when the machinery is put to use by the hirer. 4. Whether, the machinery is said to be put to use in case of assessee in the business of hiring when the mac...

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Aug 24 2007 (TRI)

Finolex Pipes (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)114TTJ(Pune.)664

1. This appeal by the assessee is directed against the Order of CIT(A) dt. 22nd Nov., 1989 for asst. yr. 1985-86.The assessee company was engaged in the business of manufacturing PVC pipes and fittings, which were supplied to various Government Departments. The return for asst. yr. 1985-86 was filed on 14th Aug., 1985 showing total income of Rs. 22,12,190. In the assessment Order passed by the AO under Section 143(3) on 25th March, 1988, the total income was assessed at Rs. 61,36,173. The CIT(A) allowed part relief and his Order has been challenged by the assessee in the present appeal. 1. In view of the facts and circumstances of the case lower authorities have erred both on facts as well as in law in disallowing Rs. 75,000 paid as service charges to M/s Business Enterprises, Delhi, same may please be allowed.2. The assessee had claimed Rs. 12,07,216 as service charges out of which Rs. 75,000 was shown as paid to M/s Buiness Enterprises, Delhi.The AO disallowed the claim in respect o...

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Aug 14 2007 (TRI)

Dhariwal Industries Ltd. Vs. Acit (inv.) and Addl. Cit, Range-1

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2008)111ITD379(Pune.)

1. Facts giving rise to the constitution of this Special Bench are that an application was submitted by the assessee for constitution of a Special Bench to resolve the controversy involved in the present bunch of appeals as to whether Gutkha manufactured by the assessee falls under the expression "tobacco preparations" within the meaning of Item No. 2 of the Eleventh Schedule to the I-T Act so as to deprive the assessee of the special relief Under Section 80-I and 80-IA of the I-T Act. In the said application, the assessee pointed out that a Division Bench of this Tribunal at Allahabad has taken the view in Kothari Products Ltd, v, ACIT, 38 ITD 285 that "Zarda Yukta Pan Masala" (pan masala containing tobacco) is not a "tobacco preparation" under Item No. 2 of the Eleventh Schedule and that the deduction Under Section 32AB and 80-1 of the I-T Act could not therefore be denied to the assessee on the ground that the said pan masala was a tobacco preparation within the meaning of Item No....

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