Search Results Page

Search Results

1 - 10 of 124 (1.06 seconds)
Documents citing Commissioner Of Income-Tax, Delhi-Ii vs Ravi Kant Jain on 15 March, 2001

Napar Drugs Pvt. Ltd. vs Dcit on 30 November, 2005

That is not the true interpretation of the judgment of the Hon'ble jurisdictional High Court in the case of Ravi Kant Jain (supra). As long as during the course of the search certain material/evidence that may lead to a legitimate enquiry into the genuineness of the transaction alleged by an assessee and undisclosed income is detected as a result of such legitimate enquiry during the course of proceedings Under Section 158BC it would amount to income computed, "on the basis of evidence found as a result of search or requisition of books of account or other documents and such other materials or information as are available with the Assessing Officer and relatable to such evidence" within the meaning of Section 158BB(1) of the Act. It is important to bear in mind that computation of income Under Section 158BC is to be made not exclusively on the basis of evidence found as a result of search but such other materials or information also available with the Assessing Officer relatable to that evidence. On perusal of the order of the Hon'ble Judicial Member in entirety there is no manner of doubt that the same is pre-dominantly based on evidence/material found as a result of the search and it cannot be said that the findings given by her has no nexus with the search Under Section 132. As to the legal presumption of facts Under Section 132(4A) that does not in its very nature appear to be available to an assessee for where is the question of a presumption of fact being drawn by the person in the knowledge and possession of true facts?
Income Tax Appellate Tribunal - Delhi Cites 93 - Cited by 13 - Full Document

Mange Ram Mittal vs Asstt. Cit on 18 August, 2006

In my humble opinion, it is not necessary that during the course of the search foolproof material/evidence indicating undisclosed income should be found. That is not the true interpretation of thejudgment of the Honble jurisdictional High Court in the case of Ravi Kant Jain (supra). As long as during the course of the search certain material/ evidence that may lead to a legitimate enquiry into the genuineness of the transaction alleged by an assessee and undisclosed income is detected as a result of such legitimate enquiry during the course of proceedings under Section 158BC it would amount to income computed,on the basis of evidence found as a result of search or requisition of books of account or other documents and such other materials or information as are available with the assessing officer and relatable to such evidence within the meaning of Section 158BB(t) of the Act. It is important to bear in mind that computation of income under Section 158BC to be made not exclusively on the basis of evidence found as a result of search but such other materials or information also available with the assessing officer relatable to that evidence."
Income Tax Appellate Tribunal - Delhi Cites 105 - Cited by 3 - Full Document

Harjeev Aggarwal vs Joint Cit on 23 June, 2003

30. On these facts, it is the case of the learned counsel of the assessed that the investment made by the assessed cannot be said to be undisclosed income for the purpose of block assessment under Chapter XIV-B of the Income Tax Act. Reliance also was placed on the decision of the jurisdictional High Court in the case of CIT v. Raid Kant Jain (supra) and the decision of the Tribunal in the case of Sunder Agencies v. Dy. CIT (supra) as also of the Hon'ble Calcutta High Court in the case of Bhagwati Prasad Kedia v. CIT (supra). Having regard to the above decisions, we have to hold that the undisclosed income, if any, has to be considered in the regular assessment on the basis of the books of account and the returns filed by the parties. There is, therefore, no justification for considering the investment in the block assessment under Chapter XIV-B of the Income Tax Act. We hold accordingly.
Delhi High Court Cites 12 - Cited by 0 - Full Document

Mange Ram Mittal vs Assistant Commissioner Of Income Tax on 18 August, 2006

In my humble opinion, it is not necessary that during the course of the search foolproof material/evidence indicating undisclosed income should be found. That is not the true interpretation of the judgment of the Hon'ble jurisdictional High Court in the case of Ravi Kant Jain (supra). As long as during the course of the search certain material/evidence that may lead to a legitimate enquiry into the genuineness of the transaction alleged by an assessee and undisclosed income is detected as a result of such legitimate enquiry during the course of proceedings under Section 158BC it would amount to income computed, 'on the basis of evidence found as a result of search or requisition of books of account or other documents and such other materials or information as are available with the AO and relatable to such eyidence' within the meaning of Section 158BB(1) of the Act. It is important to bear in mind that computation of income under Section 158BC to be made not exclusively on the basis of evidence found as a result of search but such other materials or information also available with the AO relatable to that evidence.
Income Tax Appellate Tribunal - Delhi Cites 102 - Cited by 0 - Full Document

Dang And Co. (P) Ltd. vs Deputy Commissioner Of Income Tax on 12 January, 2005

18. In the case in hand, the undisclosed income is on the basis of material found as a result of search. Regular assessment was also not made nor it is shown that it was to be made. The insertion by the Finance Act, 2002, with retrospective effect from 1st July, 1995. in the definition of Section 158B(b) which permitted to find out undisclosed income from regular books of account also where the assessee has been found to have claimed false expenses, deduction or allowance under the IT Act, did not come for consideration of the Hon'ble Court while it took decision in the case of Ravi Kant Jain (supra). Thus, if there was material which was found as a result of search to indicate undisclosed income, merely because the entries were made in regular books will not preclude the jurisdiction of the AO from making assessment under Chapter XIV-B of the Act.
Income Tax Appellate Tribunal - Delhi Cites 26 - Cited by 0 - Full Document

Acit,, Chandigarh vs Sh. K.K. Jerath, Chandigarh on 8 July, 2021

• ASSISTANT COMMISSIONER OF INCOME TAX vs. A.R. ENTERPRISES 350 ITR 0489 (SC) • COMMISSIONER OF INCOME TAX (CENTRAL)-I vs. VATIKA TOWNSHIP PRIVATE LIMITED 367 ITR 466 (SC) • COMMISSIONER OF INCOME TAX vs. PINAKI MISHRA 98 CCH 0208 (DEL HC) • ASSISTANT COMMISSIONER OF INCOME TAX & ANR. vs. HOTEL BLUE MOON 321 ITR 0362 (SC) • N.R. PAPER & BOARD LTD. & ORS. vs. DEPUTY COMMISSIONER OF INCOME TAX 234 ITR 0733 (GUJ HC) • COMMISSIONER OF INCOME TAX vs. RAVI KANT JAIN 250 ITR 0141 (DEL HC) • DR. GAUTAM SEN vs CHIEF CIT 74 TAXMANN.com 128 (BOM HC) • COMMISSIONER OF INCOME TAX vs. DR. RATAN KUMAR SINGH 357 ITR 0035 (ALL HC) • COMMISSIONER OF INCOME TAX vs. R.M.L. MEHROTRA 320 ITR 0403 (ALL HC) • COMMISSIONER OF INCOME TAX vs. JUPITER BUILDERS (P) LTD. 287 ITR 0287 (DEL HC) • COMMISSIONER OF INCOME TAX vs. VISHAL AGGARWAL 283 ITR 0326 (DEL HC) • COMMISSIONER OF INCOME TAX vs. SUNIL AGGARWAL 379 ITR 0367 (DEL HC) • T. JAYABHARATHI vs. DEPUTY COMMISSIONER OF INCOME TAX 46 CCH 0120 (Chennai TRIB) • MANI AND MONEY LTD. vs. DEPUTY COMMISSIONER OF INCOME TAX 26 ITR (Trib) 0009 (Chennai TribJ • MAHESH BHATT vs. ASSISTANT COMMISSIONER OF INCOME TAX 87 TTJ 0734 (Mum Bench) • SUNDER AGENCIES vs. DEPUTY COMMISSIONER OF INCOME TAX59 TTJ 0610 (Mum Bench)
Income Tax Appellate Tribunal - Chandigarh Cites 59 - Cited by 0 - Full Document
1   2 3 4 5 6 7 8 9 10 Next