Title : Compensation
State : Central
Year : 1961
(1) Where any immovable property is acquired under this Chapter, the Central Government shall pay for such acquisition compensation which shall be a sum equal to the aggregate of the amount of the apparent consideration for its transfer and fifteen per cent of the said amount : Provided that in a case where, under the agreement between the parties concerned, the whole or any part of the consideration for the transfer of such immovable property is payable on any date or dates falling after the date on which such property is acquired, the compensation payable by the Central Government shall be the aggregate of the following amounts, namely: (i) an amount equal to fifteen per cent of the apparent consideration ; (ii) the amount, if any, that has become payable in accordance with such..... View Complete Act List Judgments citing this sectionTitle : Statement to Be Furnished in Respect of Transfers of Immovable Property
State : Central
Year : 1961
(1) Notwithstanding anything contained in any other law for the time being in force, no registering officer appointed under the Registration Act, 1908 (16 of 1908), shall register any document which purports to transfer any immovable property belonging to any person unless a statement in duplicate in respect of such transfer, in the prescribed form1 and verified in the prescribed manner1 and setting forth such particulars as may be prescribed1, is furnished to him along with the instrument of transfer : Provided that the provisions of this sub-section shall not apply in relation to any document which purports to transfer any immovable property for an apparent consideration not exceeding fifty thousand rupees. Explanation : For the purposes of this proviso, apparent consideration..... View Complete Act List Judgments citing this sectionTitle : Order of Appropriate Authority to Be Final and Conclusive
State : Central
Year : 1961
Save as otherwise provided in this Chapter, any order made under sub-section (1) of section 269UD or any order made under sub-section (2) of section 269UF shall be final and conclusive and shall not be called in question in any proceeding under this Act or under any other law for the time being in force. View Complete Act List Judgments citing this sectionTitle : Penalty for Failure to Keep and Maintain Information and Document in Respect of International Transaction
State : Central
Year : 1961
1[Without prejudice to the provisions of section 271, if any person fails to keep and maintain any such information and document as required by sub-section (1) or sub-section (2) of section 92D, the Assessing Officer or Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of each international transaction entered into by such person.] ________________________________ 1. Inserted by the Finance Act, 2001, with effect from 1st April, 2002. View Complete Act List Judgments citing this sectionTitle : Penalty for Failure to Furnish Return of Income
State : Central
Year : 1961
1[If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.] ____________________________________ 1. Substituted by the Finance Act, 2002, with effect from 1st June, 2002. Prior to substitution, section 271F as inserted by the Finance Act, 1997, with effect from 1st April, 1997, and later on as substituted by the Finance (No. 2) Act, 1998, with effect from 1st April, 1999 and amended by the Finance Act, 2001, with effect from 1st June, 2001, stood as under: 271F. Penalty for failure to furnish return of..... View Complete Act List Judgments citing this sectionTitle : Failure to Comply with the Provisions of Clause (Iib) of Sub-section (1) of Section 132
State : Central
Year : 1961
1[If a person who is required to afford the authorised officer the necessary facility to inspect the books of account or other documents, as required under clause (iib) of sub-section (1) of section 132, fails to afford such facility to the authorised officer, he shall be punishable with rigorous imprisonment for a term which may extend to two years and shall also be liable to fine.] ______________________________ 1. Inserted by the Finance Act, 2002, with effect from 1st June, 2002. View Complete Act List Judgments citing this sectionTitle : Punishment for Second and Subsequent Offences
State : Central
Year : 1961
If any person convicted of an offence under section 276B or sub-section (1) of section 276C or section 276CC or section 276DD* or section 276E* or section 277 or section 278 is again convicted of an offence under any of the aforesaid provisions, he shall be punishable for the second and for every subsequent offence with rigorous imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine. _____________________________ * Reference to section 276DD and section 276E needs to be deleted as the same has been omitted by the Direct Tax Laws (Amendment) Act, 1987, with effect from 1st April, 1989. View Complete Act List Judgments citing this sectionTitle : Publication of Information Respecting Assessees in Certain Cases
State : Central
Year : 1961
(1) If the Central Government is of opinion that it is necessary or expedient in the public interest to publish the names of any assessees and any other particulars relating to any proceedings or prosecutions under this Act, in respect of such assessees, it may cause to be published such names and particulars in such manner as it thinks fit. (2) No publication under this section shall be made in relation to any penalty imposed under this Act until the time for presenting an appeal to the 1[***] Commissioner (Appeals) has expired without an appeal having been presented or the appeal, if presented, has been disposed of. Explanation : In the case of a firm, company or other association of persons, the names of the partners of the firm, directors, managing agents, secretaries and..... View Complete Act List Judgments citing this sectionTitle : Special Provisions in Respect of Newly Established Hundred Per Cent Export-oriented Undertakings
State : Central
Year : 1961
1(1) Subject to the provisions of this section, a deduction of such profits and gains as are derived by a hundred per cent export-oriented undertaking from the export of articles or things or computer software for a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce articles or things or computer software, as the case may be, shall be allowed from the total income of the assessee: Provided that where in computing the total income of the undertaking for any assessment year, its profits and gains had not been included by application of the provisions of this section as it stood immediately before its substitution by the Finance Act, 2000, the undertaking shall be entitled..... View Complete Act List Judgments citing this sectionTitle : Meaning of Computer Programmes in Certain Cases
State : Central
Year : 1961
1[The profits and gains derived by an undertaking from the production of computer programmes under section 10B, as it stood prior to its substitution by section 7 of the Finance Act, 2000 (10 of 2000), shall be construed as if for the words computer programmes, the words computer programmes or processing or management of electronic data had been substituted in that section.] _________________ 1. Inserted by the Finance Act, 2001, with retrospective effect from 1st April, 1994. View Complete Act List Judgments citing this section