Where the assessee was not provided with any opportunity of being heard in the matter, the reasons assigned in the order which was “administrative convenience and for co-ordinating effective investigation” also could not be said to be the reasons as envisaged in Section 127(1).
Decision of a company has to rest on views of majority; in case of disagreement by the minority, remedy lies u/s 397 & 398 and not in Civil Court. When a case falls within four corners of section 397 and/or section 398, ordinary civil court’s jurisdiction would stand barred to deal with such a dispute
No provision similar to the provision enabling both the CIT(A) and the Tribunal to admit appeals presented beyond the period of limitation if they are satisfied that there was sufficient cause on the part of the appellant for not preferring the appeal within the period of limitation prescribed under the Act is framed in the context of appeals to the High Court under s. 260A.
The AO passed a block assessment order u/s 158BC by which he assessed the undisclosed income of the assessee at Rs. 24.37 L. Subsequently, he passed an order by which he added a further sum of Rs. 13.66 L to the said undisclosed income without issuing a notice u/s 148. The Tribunal allowed the appeal on the ground that the AO could not have made the addition without reopening the block assessment u/s 147.
This petition under article 226 of the Constitution of India registers a challenge to the order dated August 23, 2007, passed by the learned Income-tax Appellate Tribunal, Guwahati Bench, Guwahati (hereinafter referred to as the Tribunal), dismissing four appeals being
The circular, dated August 1, 2006, aforementioned, is binding on the department and this circular makes it more than abundantly clear that when a builder, promoter or developer undertakes construction activity for its own self, then, in such cases, in the absence of relationship of ‘service provider’ and ‘service recipient’, the question of providing ‘taxable service’ to any person by any other person does not arise at all.
From a plain reading of Sub-section (2) of Section 54 of the Income-tax Act, 1961, it is clear that only Section 139 of the Income-tax Act, 1961, is mentioned in Section 54(2) in the context that the unutilised portion of the capital gain on the sale of property used for residence should be deposited before the date of furnishing the return of the Income-tax under Section 139
IT authorities are empowered to amend any order passed by them under the Act with a view to rectifying any mistake apparent from the record. A mistake is an omission made not by design but by mischance. A mistake apparent is a mistake that is manifest. In other words, the mistake must be so plain or obvious that it could be realised without a debate or dissertation
There is no finding of fact to the effect that actually the loan had been granted to the managing director or any other person on interest, or that interest had actually been collected and the collection of the interest was not reflected in the accounts.
