Title : Tax Recovery Officer by Whom Recovery is to Be Effected
State : Central
Year : 1961
(1) The Tax Recovery Officer competent to take action under section 222 shall be (a) the Tax Recovery Officer within whose jurisdiction the assessee carries on his business or profession or within whose jurisdiction the principal place of his business or profession is situate, or (b) the Tax Recovery Officer within whose jurisdiction the assessee resides or any movable or immovable property of the assessee is situate, the jurisdiction for this purpose being the jurisdiction assigned to the Tax Recovery Officer under the orders or directions issued by the Board, or by the Chief Commissioner or Commissioner who is authorised in this behalf by the Board in pursuance of section 120. (2) Where an assessee has property within the jurisdiction of more than one Tax Recovery Officer and..... View Complete Act List Judgments citing this sectionTitle : Validity of Certificate and Cancellation or Amendment Thereof
State : Central
Year : 1961
It shall not be open to the assessee to dispute the correctness of any certificate drawn up by the Tax Recovery Officer on any ground whatsoever, but it shall be lawful for the Tax Recovery Officer to cancel the certificate if, for any reason, he thinks it necessary so to do, or to correct any clerical or arithmetical mistake therein. View Complete Act List Judgments citing this sectionTitle : Form of Claim for Refund and Limitation
State : Central
Year : 1961
(1) Every claim for refund under this Chapter shall be made in the prescribed form1 and verified in the prescribed manner1. (2) No such claim shall be allowed, unless it is made within the period specified hereunder, namely : (a) where the claim is in respect of income which is assessable for any assessment year commencing on or before the 1st day of April, 1967, four years from the last day of such assessment year; (b) where the claim is in respect of income which is assessable for the assessment year commencing on the first day of April, 1968, three years from the last day of the assessment year; (c) where the claim is in respect of income which is assessable for any other assessment year, one year from the last day of such assessment year. 2[(d) where the claim is in..... View Complete Act List Judgments citing this sectionTitle : Tax to Be Paid Notwithstanding Reference, Etc
State : Central
Year : 1961
Notwithstanding that a reference has been made to the High Court or the Supreme Court or an appeal has been preferred to the Supreme Court, tax shall be payable in accordance with the assessment made in the case. View Complete Act List Judgments citing this sectionTitle : Apportionment of Income Between Spouses Governed by Portuguese Civil Code
State : Central
Year : 1961
(1) Where the husband and wife are governed by the system of community of property (known under the Portuguese Civil Code of 1860 as communiao dos bens) in force in the State of Goa and in the Union territories of Dadra and Nagar Haveli and Daman and Diu, the income of the husband and of the wife under any head of income shall not be assessed as that of such community of property (whether treated as an association of persons or a body of individuals), but such income of the husband and of the wife under each head of income (other than under the head Salaries) shall be apportioned equally between the husband and the wife and the income so apportioned shall be included separately in the total income of the husband and of the wife respectively, and the remaining provisions of this Act..... View Complete Act List Judgments citing this sectionTitle : Dividend Income
State : Central
Year : 1961
For the purposes of inclusion in the total income of an assessee, (a) any dividend declared by a company or distributed or paid by it within the meaning of sub-clause (a) or sub-clause (b) or sub-clause (c) or sub-clause (d) or sub-clause (e) of clause (22) of section 2 shall be deemed to be the income of the previous year in which it is so declared, distributed or paid, as the case may be ; (b) any interim dividend shall be deemed to be the income of the previous year in which the amount of such dividend is unconditionally made available by the company to the member who is entitled to it. View Complete Act List Judgments citing this sectionTitle : Heads of Income
State : Central
Year : 1961
Save as otherwise provided by this Act, all income shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income: A. Salaries B. [Omitted by the Finance Act, 1988, with effect from 1st April, 1989] C. Income from house property D. Profits and gains of business or profession E. Capital gains F. Income from other sources. View Complete Act List Judgments citing this sectionTitle : Special Provision for Arrears of Rent Received
State : Central
Year : 1961
1[Where the assessee -- (a) is the owner of any property consisting of any buildings or lands appurtenant thereto which has been let to a tenant; and (b) has received any amount, by way of arrears of rent from such property, not charged to income-tax for any previous year, the amount so received, after deducting 2[a sum equal to thirty per cent of such amount], shall be deemed to be the 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 received, whether the assessee is the owner of that property in that year or not.] __________________ 1. Inserted by the Finance Act, 2000, with effect from 1st April, 2001. 2. Substituted for a sum equal to one-fourth of such amount for..... View Complete Act List Judgments citing this sectionTitle : Carry Forward and Set off of Losses in Case of Change in Constitution of Firm or on Succession
State : Central
Year : 1961
(1) Where a change has occurred in the constitution of a firm, nothing in this Chapter shall entitle the firm to have carried forward and set-off so much of the loss proportionate to the share of a retired or deceased partner as exceeds his share of profits, if any, in the firm in respect of the previous year. (2) Where any person carrying on any business or profession has been succeeded in such capacity by another person otherwise than by inheritance, nothing in this Chapter shall entitle any person other than the person incurring the loss to have it carried forward and set-off against his income. View Complete Act List Judgments citing this sectionTitle : Rebate of Income-tax in Case of Certain Individuals [Omitted]
State : Central
Year : 1961
1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88D, as inserted by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005, stood as under: 88D. Rebate of income-tax in case of certain individuals. An assessee, being an individual resident in India, (a) whose total income does not exceed one hundred thousand rupees, shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax; (b) whose total income exceeds one hundred thousand rupees and the income-tax payable on such total income (as computed..... View Complete Act List Judgments citing this section