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Documents citing Commissioner Of Income-Tax vs Gates Foam And Rubber Company on 17 August, 1972

Rajan H. Shinde vs Deputy Commissioner Of Income-Tax, ... on 11 May, 2006

14. However, the learned JM differed on all these points with the proposed order of the AM. Placing reliance upon the decision of the Hon'ble Kerala High Court in the case of CIT v. Gates Foam & Rubber Co. , wherein the Hon'ble High Court observed "the presumption provided for in Section 271(1)(c) applied to the facts of the case and penalty had to be imposed", learned JM held, the same decision is applicable in the instant case of the assessee also.
Income Tax Appellate Tribunal - Pune Cites 36 - Cited by 3 - Full Document

Uni Design Jewellery Pvt.Ltd., Mumbai vs Assessee on 14 January, 2009

In CIT vs. Gates Foam And Rubber Company (supra), it has been held (page 468 headnote) that the placing of the bogus debit as genuine constituted furnishing of inaccurate particulars of income. It had been proved that the agent-firm was a bogus concern set up for the purpose of diverting a large portion of the income of the assessee. The presumption provided for in section 271(1)(c) applied to the facts of the case and penalty had to be imposed.
Income Tax Appellate Tribunal - Mumbai Cites 13 - Cited by 0 - Full Document
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