Title : Inspection, Etc., of Reports
State : Central
Year : 1961
No person shall be entitled to inspect, or obtain copies of, any reports made by any income-tax authority to the Settlement Commission ; but the Settlement Commission may, in its discretion, furnish copies thereof to any such person on an application made to it in this behalf and on payment of the prescribed fee1: Provided that, for the purpose of enabling any person whose case is under consideration to rebut any evidence brought on record against him in any such report, the Settlement Commission shall, on an application made in this behalf, and on payment of the prescribed fee by such person, furnish him with a certified copy of any such report or part thereof relevant for the purpose. ________________ 1. See rule 44D. For analysis, see Mashbras Income-tax Rules. ..... View Complete Act List Judgments citing this sectionTitle : Repeal and Saving
State : Central
Year : 1974
(1) The Compulsory Deposit Scheme (Income-tax Payers) Ordinance, 1974, is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the Ordinance so repealed shall be deemed to have been done or taken under the corresponding provisions of this Act. View Complete Act List Judgments citing this sectionTitle : Stock and Marketable Securities How to Be Valued
State : Karnataka
Year : 1957
Where an instrument is chargeable with ad valorem duty in respect of any stock or of any marketable or other security, such duty shall be calculated on the value of such stock or security according to the average price or the value thereof on the day of the date of the instrument. View Complete Act List Judgments citing this sectionTitle : Abetment of False Return, Etc.
State : Central
Year : 1957
If a person abets or induces in any manner another person to make and deliver an account, statement or declaration relating to any net wealth chargeable to tax which is false and which he either knows to be false or does not believe to be true or to commit an offence under sub-section (1) of section 35A, he shall be punishable, (i) in a case where the amount of tax, penalty or interest, which would have been evaded, if the declaration, account or statement had been accepted as true, or which is wilfully attempted to be evaded, exceeds one hundred thousand rupees, with rigorous imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine; (ii) in any other case, with rigorous imprisonment for a term which shall not be less than..... View Complete Act List Judgments citing this sectionTitle : Rounding off of Tax, Etc.
State : Central
Year : 1957
The amount of wealth-tax, interest, penalty, fine or any other sum payable, and the amount of refund due, under the provisions of this Act, shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise, then, if such part is fifty paise or more, it shall be increased to one rupee, and if such part is less than fifty paise, it shall be ignored.] View Complete Act List Judgments citing this sectionTitle : Unrealised Rent Received Subsequently to Be Charged to Income-tax
State : Central
Year : 1961
1[Where the assessee cannot realise rent from a property let to a tenant and subsequently the assessee has realised any amount in respect of such rent, the amount so realised shall be deemed to be income chargeable under the head Income from house property and accordingly charged to income-tax as the income of that previous year in which such rent is realised whether or not the assessee is the owner of that property in that previous year.] ______________________ 1. Inserted by the Finance Act, 2001, with effect from 1st April, 2002. View Complete Act List Judgments citing this sectionTitle : Treatment of Common Costs
State : Central
Year : 1961
(1) Where a tonnage tax company also carries on any business or activity other than the tonnage tax business, common costs attributable to the tonnage tax business shall be determined on a reasonable basis. (2) Where any asset, other than a qualifying ship, is not exclusively used for the tonnage tax business by the tonnage tax company, depreciation on such asset shall be allocated between its tonnage tax business and other business on a fair proportion to be determined by the Assessing Officer, having regard to the use of such asset for the purpose of the tonnage tax business and for the other business. View Complete Act List Judgments citing this sectionTitle : Income-tax Authorities
State : Central
Year : 1961
There shall be the following classes of income-tax authorities for the purposes of this Act, namely : (a) The Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963), (b) Directors General of Income-tax or Chief Commissioners of Income-tax, (c) Directors of Income-tax or Commissioners of Income-tax or Commissioners of Income-tax (Appeals), (cc) Additional Directors of Income-tax or Additional Commissioners of Income-tax or Additional Commissioners of Income-tax (Appeals), 1[(cca) Joint Directors of Income-tax or Joint Commissioners of Income tax,] (d) Deputy Directors of Income-tax or Deputy Commissioners of Income-tax or Deputy Commissioners of Income-tax (Appeals), (e) Assistant Directors of Income-tax or Assistant..... View Complete Act List Judgments citing this sectionTitle : Liability for Payment of Advance Tax
State : Central
Year : 1961
Tax shall be payable in advance during any financial year, in accordance with the provisions of sections 208 to 219 (both inclusive), in respect of the total income of the assessee which would be chargeable to tax for the assessment year immediately following that financial year, such income being hereafter in this Chapter referred to as current income. View Complete Act List Judgments citing this sectionTitle : Application for Advance Ruling
State : Central
Year : 1961
(1) An applicant desirous of obtaining an advance ruling under this Chapter may make an application in such form and in such manner as may be prescribed1, stating the question on which the advance ruling is sought. (2) The application shall be made in quadruplicate and be accompanied by a fee of two thousand five hundred rupees. (3) An applicant may withdraw an application within thirty days from the date of the application. _________________________________ 1. See rule 44E and Form Nos. 34C, 34D and 34E. For analysis, see Mashbras Income-tax Rules. View Complete Act List Judgments citing this section