International Forest Co. v. CIT

The ITO, Ward-4(4), Surat vs. M/S. Valentine Cine Vision Limited, Surat

In the result, the appeal of the assessee stands allowed for statistical purposes

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavassessment Year: 2011-12

…); Brij Bhusan Lal Parduman 12 ITA 2419, CO 181, ITA 2438/Ahd/2015 Kumar v. CIT [1978] 115 ITR 524 (SC); Chouthmal Agarwalla v. CIT [1962] 46 ITR 262 (Assam); R.V.S. and Sons Dairy Farm v. CIT [2002] 257 ITR 764 (Mad); International Forest Co. v. CIT [1975] 101 ITR 721 (J & K) ; M. Durai Raj v. CIT [1972] 83 ITR 484 (Ker); Ramchandra Ramnivas v. State of Orissa [1970] 25 STC 501 (Orissa); Action Electricals v. Deputy CIT [2002] 258 ITR 188 (Delhi) and Kamal Kumar Saharia v. CIT [1995] 216 ITR 217 (Gauhati) indicate that the AO is not fettered by any technical rules of evidence and pleadings, and he is entitled…

ITO 1(1)(1)(5), Agra vs. Shanti Constructions, Agra

In the result, the appeal filed by revenue is dismissed

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meenaincome Tax Officer, Ward,1(1)(5), Vs.. M/S Shanti Constructions, Ug-13, Aayakar Bhawan, Agra Shanti Madhuvan Plaza, Delhi Gate, Agra (Appellant) (Pan: Aaufs3185N) (Respondent)

…to the notice of the assessee and give him adequate opportunity to explain and answer the case on the basis of such material.” The Hon’ble High Court of Jammu & Kashmir in the case of International Forest Co. Vs. Commissioner of Income-tax reported in (1975) 101 ITR 721 has held that “even if it be taken that the Income-tax authority not bound by strict rules of evidence, any report could not be referred to and relied upon unless it had not only invited the attention of the assessee to the passages on which it intended to rely but had also given an opportunity to the assessee to explain those passages and to add…

Kashmir Steel Industries, Jammu vs. Deputy Commissioner of Income Tax, Central Circle, Jammu

In the result, the appeal of the assessee is allowed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 201/Asr./2018 : Asstt. Year : 2013-14 Kashmir Steel Industries, Vs Asstt. Commissioner Of Income Sidco Industrial Complex, Bari Tax, Circle-1, Brahmana, Jammu Jammu (Appellant) (Respondent) Pan No. Aabfk4948A Assessee By : Sh. Vasu Gupta, Ca & Sh. R. K. Gupta, Ca Revenue By : Sh. M. P. Singh, Cit Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Cit(A)-5, Ludhiana.

…t no addition can be made in the hands of the assessee on account of fall in gross profit rate from the immediately preceding year. For this, he relied on the decision of Hon’ble Jammu & Kashmir High Court in the case of International Forest Co. Vs CIT (1975) 101 ITR 721 where it was held as under: “There mere fact that lesser out-turn of sawn timber has been shown by the assessee in the accounting year in question as compared to previous year could not be treated as a valid ground for rejecting its accounts and as indicative of any attempt on the part of the assessee to defraud the IT Department. The yield would…

Gautam Industrial Corporation, Ahmedabad vs. The Income Tax Officer, Ward-2(4), Surat

In the result, appeal of the assessee is set-aside to the file of the AO, and the appeal of the assessee is allowed for statistical purposes

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.2852/Ahd/2015/Srt िनधा"रण वष"/Assessment Year : 2011-12 Gautam Industrial Corporation, Vs. The Income Tax Officer, Plot No.5420, Road No.54, Ward – 2(4), Surat. Nr.Water Tank, Gids, Sachin, Surat – 394 230. [Pan: Aacfg 3505 E] अपीलाथ" Appellant ""यथ"/Respondent िनधा"रती क" ओर से /Assessee By Shri Prakash D.Shah – Ca राज"व क" ओर से /Revenue By Shri S.R.Meena – Sr.Dr 09.08.2018 सुनवाई क" तारीख/ Date Of Hearing: 18.09.2018 उ"ोषणा क" तारीख/Pronouncement On आदेश /O R D E R Per O. P. Meena, Accoutant Member: 1. This Appeal By The Assessee Is Directed Against The Order Of Learned Commissioner Of Income Tax (Appeals)-Ii, Surat(In Short “The Cit (A)”) Dated 15.09.2015 Pertaining To Assessment Year 2011-12, Which In Turn Has Arisen From The Order Passed By The Income Tax Officer, Ward-2(4), Surat (In Short “The Ao”) Dated 31.03.2014 Under Section 143(3) Of Income Tax Act, 1961 (In Short ‘The Act’).

…9 crores. It was further contended that reduction in the Gross Profit cannot be ground for applying section 145 of the Act. The ld.Counsel has supported this view by placing reliance on the judgments in the case of International Forest Company. Vs. CIT [1975] 101 ITR 721 [J & K] Pandit Brothers vs. CIT [1954] 26 ITR 159 and CIT vs. Symphony Comfort Systems Ltd. [2013] 216 taxman 225 (MAG) (GUJ) wherein it has been held that the AO noticed that there was fall in Gross Profit declared by the assessee, as compared to the preceding year and he made addition on account of low Gross Profit Rate to the assessee’s income…

Rishav Shelters P Ltd, Agra vs. JCIT Range-4, Agra

In the result, appeal of the assessee is partly allowed and that of the

…In the Income-Tax Appellate Tribunal, Agra Bench, Agra Before: Shri A.D. Jain, Judicial Member And Shri Dr. Mitha Lal Meena, Accountant Member Assessment Year: 2011-12 M/s Rishav Shelters (P) Ltd. vs. The JCIT, Range-4, 22 – Jawahar Nagar, Khandari, Agra. Agra PAN – AACCR 9448 Q (Appellant) (Respondent) Assessment Year: 2011-12 The JCIT, Range-4,Agra vs. M/s Rishav Shelters (P) Ltd. 22 – Jawahar Nagar, Khandari,Agra. PAN – AACCR 9448 Q (Appellant) (Respondent) Appellant by Shri Pankaj Gargh, Advocate Respondent by Shri Waseem Arshad, Sr. D.R. Date of Hearing 18.06.2018 Date of Pronouncement 14.08.2018 ORDER P…