TaxTMI 
TaxTMI 
2018 (12) TMI 465
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....y. Questionnaire was issued. A reply was furnished. Thereafter, the Assessing Officer disallowed certain 'business expenses' as well as 'other expenses' as claimed in the profit and loss account of M/s. Maruthi Enterprises and M/s.Maruthi Business Centre. 2. The Assessing Officer computed the income of the appellant for the asst. year 2000-2001 as Rs. 9,34,940/- and passed an assessment order. Aggrieved, by the said assessment order, an appeal was preferred by the assessee before the Commissioner of Income Tax (Appeals), which was dismissed. The appeal filed before the Tribunal was also rejected. Hence, the present appeal in ITA No.72 of 2010. By the order dated 12.04.2010, the appeal was admitted to consider the following substantial qu....
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....g Officer. Thereafter, the Assessing Officer computed the total income at Rs. 6,57,580/-. Aggrieved by the same, an appeal was preferred before the Commissioner of Income Tax (Appeals), which was dismissed. Thereafter, the appellant approached the Tribunal wherein the appeal was rejected. Hence, the present appeal in ITA No.120 of 2010. By the order dated 12.04.2010, the appeal was admitted to consider the following substantial questions of law: "i) Whether the Tribunal is correct in law in holding that the reopening of the assessment under Section - 148 of the Act for the asst. year 2001-02 is valid on the facts and circumstances of the case? ii) Whether the authorities below were justified in law in disallowance of interest payment ....
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....es claimed are relatable to M/s.Maruthi Enterprises. The learned counsel further submits that there is no substantial question of law that arises for consideration in these appeals. Notwithstanding the same, on facts he pleads that there is no error committed by the authorities and hence the appeals be dismissed. 7. Heard learned counsels. 8. Insofar as the appeal in ITA No.72 of 2010, is concerned, the appeal pertains to the asst. year 2000- 2001. The Assessing Officer in the assessment order held that the assessee neither produced the books of accounts nor other details for verification, inspite of repeated reminders. Therefore, the loss of Rs. 5,07,504/- was disallowed. The further claim of the assessee in a sum of Rs. 2,25,297/- a....
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.... not substantiate her claim with any tangible evidence or material. Therefore, having considered the Balance Sheet and the Profit And Loss Account, the findings recorded by both the authorities were confirmed. 12. Consequently, the substantial questions of law are answered in favour of the Revenue and against the assessee. The impugned order of the Tribunal is upheld. 13. ITA NO.120 OF 2010 : So far as the appeal in ITA No.120 of 2010 is concerned, the same pertains to the asst. year 2001-2002. With regard to the income from the property situated at Jayanagar, Bengaluru, the Assessing Officer found that the assessee has not furnished the description of the property, rental agreement, name and address of the tenants, sources ....
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....mission receipt was computed as net income. Even though the proposal was conveyed to the assessee, even till the date of the passing of the order, no reply was furnished by the assessee. No books of accounts were produced. Therefore, the computation was made at a sum of Rs. 6,57,580/-. It was contended that the material produced before the Assessing Officer was not considered. Therefore, the said material was once again produced before the Commissioner of Income Tax (Appeals), which were considered. 16. Yet another contention advanced was with regard to the jurisdiction to issue a notice under Section- 148 of the Income tax Act. It was noticed that the assessee did not file the return of income in time. She had not filed the return of in....