N.K. Textile Mills v. CIT

M/S Manish Finlease (P) Ltd, Patna vs. ITO, Ward-2(1), Patna

Bench: Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year : 2010-2011 Manish Finlease Pvt Ltd., Vs. Ito, Ward 2(1), Patna Chandi House Exhibition Road, Patna Pan/Gir No.Aaccm 6252 B (Appellant) .. ( Respondent) Assessee By : Shri A.K.Rastogi & Rakesh Kumar, Ars Revenue By : Shri Indrajeet Singh, Dr Date Of Hearing : 20/06/ 2019 Date Of Pronouncement : 09/08/ 2019 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Cit(A)-1, Patna Dated 27.9.2018 For The Assessment Year 2010-2011. 2. The Appeal Filed By The Assessee Is Delayed By 51 Days. The Assessee Has Filed Application For Condonation Of Delay Stating The Reasons For Not Filing The Appeal In Time Before The Tribunal. After Hearing The Submissions Of The Parties, We Are Satisfied That The Assessee Had A Bonafide Reason For Not Filing The Appeal In Time. Therefore, We Condone The Delay & Proceed To Decide The Appeal Of The Assessee On Merits.

…` IN THE INCOME TAX APPELLATE TRIBUNAL, PATNA BENCH, PATNA BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER AND LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year : 2010-2011 Manish Finlease Pvt Ltd., Vs. ITO, Ward 2(1), Patna Chandi House Exhibition Road, Patna PAN/GIR No.AACCM 6252 B (Appellant) .. ( Respondent) Assessee by : Shri A.K.Rastogi & Rakesh Kumar, ARs Revenue by : Shri Indrajeet Singh, DR Date of Hearing : 20/06/ 2019 Date of Pronouncement : 09/08/ 2019 O R D E R Per Bench This is an appeal filed by the assessee against the order of the CIT(A)-1, Patna dated 27.9.2018 for the assessment year 2010-2…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

…on thereto, no addition should be made in respect of such issues, as held in [LMJ International Ltd. v. Dy. CIT (2008) 22 SOT 315 (Kol.)]; Senairam Doongarmal Agency (P.) Ltd. v. K.E. Johnson (1964) 52 ITR 637 (Assam) (FB) and N.K. Textile Mills v. CIT (1996) 62 ITR 58 (Punj.). 1.36 Courts have uniformly taken the view that post-search assessment should be with reference to the seized assets and material gathered during search. It may include the result of further inquiry but necessarily with reference to such materials. In CIT v. Rajendra Prasad Gupta (2001) 248 ITR 350 (Raj.), the HC pointed out that assessment…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

…on thereto, no addition should be made in respect of such issues, as held in [LMJ International Ltd. v. Dy. CIT (2008) 22 SOT 315 (Kol.)]; Senairam Doongarmal Agency (P.) Ltd. v. K.E. Johnson (1964) 52 ITR 637 (Assam) (FB) and N.K. Textile Mills v. CIT (1996) 62 ITR 58 (Punj.). 1.36 Courts have uniformly taken the view that post-search assessment should be with reference to the seized assets and material gathered during search. It may include the result of further inquiry but necessarily with reference to such materials. In CIT v. Rajendra Prasad Gupta (2001) 248 ITR 350 (Raj.), the HC pointed out that assessment…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

…on thereto, no addition should be made in respect of such issues, as held in [LMJ International Ltd. v. Dy. CIT (2008) 22 SOT 315 (Kol.)]; Senairam Doongarmal Agency (P.) Ltd. v. K.E. Johnson (1964) 52 ITR 637 (Assam) (FB) and N.K. Textile Mills v. CIT (1996) 62 ITR 58 (Punj.). 1.36 Courts have uniformly taken the view that post-search assessment should be with reference to the seized assets and material gathered during search. It may include the result of further inquiry but necessarily with reference to such materials. In CIT v. Rajendra Prasad Gupta (2001) 248 ITR 350 (Raj.), the HC pointed out that assessment…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

…on thereto, no addition should be made in respect of such issues, as held in [LMJ International Ltd. v. Dy. CIT (2008) 22 SOT 315 (Kol.)]; Senairam Doongarmal Agency (P.) Ltd. v. K.E. Johnson (1964) 52 ITR 637 (Assam) (FB) and N.K. Textile Mills v. CIT (1996) 62 ITR 58 (Punj.). 1.36 Courts have uniformly taken the view that post-search assessment should be with reference to the seized assets and material gathered during search. It may include the result of further inquiry but necessarily with reference to such materials. In CIT v. Rajendra Prasad Gupta (2001) 248 ITR 350 (Raj.), the HC pointed out that assessment…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

…on thereto, no addition should be made in respect of such issues, as held in [LMJ International Ltd. v. Dy. CIT (2008) 22 SOT 315 (Kol.)]; Senairam Doongarmal Agency (P.) Ltd. v. K.E. Johnson (1964) 52 ITR 637 (Assam) (FB) and N.K. Textile Mills v. CIT (1996) 62 ITR 58 (Punj.). 1.36 Courts have uniformly taken the view that post-search assessment should be with reference to the seized assets and material gathered during search. It may include the result of further inquiry but necessarily with reference to such materials. In CIT v. Rajendra Prasad Gupta (2001) 248 ITR 350 (Raj.), the HC pointed out that assessment…

Assistant Commissioner of Income Tax-1(1), Raipur vs. Shri. Javed Ali Pradhan, Raipur

In the result, all appeals filed by the Revenue are dismissed

Bench: : Shri N.S.Saini & Shri Pavan Kumar Gadale, Judical Member

…on thereto, no addition should be made in respect of such issues, as held in [LMJ International Ltd. v. Dy. CIT (2008) 22 SOT 315 (Kol.)]; Senairam Doongarmal Agency (P.) Ltd. v. K.E. Johnson (1964) 52 ITR 637 (Assam) (FB) and N.K. Textile Mills v. CIT (1996) 62 ITR 58 (Punj.). 1.36 Courts have uniformly taken the view that post-search assessment should be with reference to the seized assets and material gathered during search. It may include the result of further inquiry but necessarily with reference to such materials. In CIT v. Rajendra Prasad Gupta (2001) 248 ITR 350 (Raj.), the HC pointed out that assessment…