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Commissioner of Income Central Ii Vs. Suresh N. Gupta

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 4, 4(1), 32, 32(2), 68, 69, 69A, 69B, 69C, 112, 113, 115A, 115AB, 115AC, 115ACA, 115AD, 115B, 115BB, 115BBA, 115E, 115JB, 132, 132A, 132B, 139, 139(1), 142, 142(1), 143, 143(1B), 143(2), 143(3), 144, 147, 148, 158B, 158BA, 158BA(1), 158BA(2), 158BB, 158BB(1), 158BC, 158BH, 161, 161(1A), 164, 164A, 167B, 245D and 245D(4); Finance Act, 2001 - Sections 2(1), 2(2) and 2(3); Finance Act, 2002 - Sections 113; Finance Act, 1995; Constitution of India - Articles 269, 270 and 271

Reported in : (2008)214CTR(SC)274; [2008]297ITR322(SC); JT2008(1)SC208; 2008(1)SCALE99; (2008)4SCC362; 2008AIRSCW1066

appeal.Points for determination:4. Two points arise for determination: Whether on the facts and circumstances of this case, the Finance Act, 2001 ('FA' for short) was applicable to 'block assessment' under Chapter XIV-B in respect of the search carried out … assessment years, i.e., 1991-92 to 2000-01, including the period from 1.4.2000 to 17.1.2001.FACTS3. On 17.1.2001 a search under Section 132 of the 1961 Act was carried out at the premises of the respondent-assessee, an individual. The search unearthed

Core Healthcare Ltd. Vs. Union of India (Uoi)

Court : Gujarat

Subject : Excise

Acts : Finance Act, 2001 - Sections 132; Central Excise Tariff Act, 1985; Central Excise Act, 1944 - Sections 11B; Central Excise Rules, 1944 - Rule 12(1), 57A, 57C, 57I, 57Q and 57U

Reported in : 2006(198)ELT21(Guj)

submitted that Prayer 8(bb) does not survive and is not pursued in light of Section 132 of the Finance Act, 2001. Therefore, the only dispute that survives is legality and validity of the impugned notice dated 24-3-2000.3. Mr. Gupta

Chandra Prakash Agrawal Vs. Assistant Commissioner of Income-tax and o ...

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 15(1), 15A(1), 32(2), 68, 69, 69A, 69B, 69C, 113, 129, 132, 132(1), 132A, 132A(2), 132A(3), 132B, 132(4A) to 132(14), 139, 139(1), 142, 142(1), 142(2A), 143, 143(1), 143(1B), 143(2), 143(3), 144, 145, 147, 148, 158BA, 158BA(2), 158B to 158BI, 234A, 234B, 234C, 245C, 245D(1), 245D(2), 245D(4), 245H, 246, 246A, 253, 263, 271(1), 271A, 271B and 278D; ;Income Tax Act, 1922 - Sections 22(4), 37 and 131(1); Finance Act, 1995; Finance Act, 2001; Finance Act, 1998; Emergency Powers Act, 920

Reported in : (2006)206CTR(All)505; [2006]287ITR172(All)

income of a designated period consisting of ten previous years, now reduced to six previous years by the Finance Act, 2001, with effect from June 1, 2001, preceding the previous year in which the search was conducted and also … when the petitioner had already surrendered a sum of Rs. 50,00,000 for the entire group of proceedings under Section 132 of the Act before the Deputy Director of Income-tax (Investigation), Agra, consequent to receipt of notice under Section

Cargo Clearing Agency (Gujarat) Vs. Joint Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(7A), 3, 4, 4(1), 32(2), 64, 65, 66, 68, 69, 69A, 69B, 69C, 113, 132, 132A, 132B, 132(5), 132(7), 139, 139(1), 139(5), 142, 142(1), 143, 143(1A), 143(1B), 143(2), 143(3), 144, 145, 147 to 153, 153(2), 158B, 158BA, 158BA(1), 158BA(2), 158BB, 158BB(1), 158BB(2), 158BC, 158BD, 158BE, 158BG, 158BH and 245D; Finance Act, 1995; Finance (No. 2) Act, 1996; Finance (No. 2) Act, 1998; Finance Act, 2001; Finance Act, 2002

Reported in : (2008)218CTR(Guj)541; [2008]307ITR1(Guj)

1st July, 1995 and will, accordingly, apply in relation to the assessment year 1996-97 and subsequent years.12.3. The Finance Act, 2001 carried out certain amendments in Chapter XIV-B of the Act. But the said amendments were made effective from … Association of Persons (AOP) declaring income of Rs. 5,05,087/- came to be filed.3. On 24.11.1995 search proceedings Under Section 132 of the Income Tax Act, 1961 (the Act) were carried out at the residential premises of three erstwhile

Babu Lal and ors. Through Its Partner Babu Lal Vs. Director of Income- ...

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 120, 132, 132(1), 132(3), 132A, 148, 157BC, 158B, 158BC, 184 and 278D(2); Income Tax Act, 1992 - Sections 34(1); Taxation Laws (Amendment) Act, 1975; Stamp Act, 1899 - Sections 73; Finance Act, 1995; Income Tax Rules, 1962 - Rule 112(1); Constitution of India - Articles 21, 226 and 227

Reported in : (2005)198CTR(All)274; [2006]281ITR70(All)

provisions of Section 132 and Chapter XIV-B of the Act, explaining that Chapter XIV-B was inserted by the Finance Act, 1995 laying down a special procedure for assessment in search cases. It deals with assessment of a block

Deputy Commissioner of Income Tax Vs. Glamour Restaurant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2003)80TTJ(Mum.)763

account is defined in the IT Act 1961, w.e.f., 1st June, 2001, by Section 2(12A) inserted by the finance Act, 2001, to include other books also; (iv) The tax on the disclosure made of Rs. 65 lakhs was Rs. … the assessee at Rs. 11,68,640 vide assessment order dt.26th Dec., 1990. A statement of Shri Hukamatrai Wadhawa under Section 132(4) was recorded in which he offered a sum of Rs. 65,00,000 as undisclosed income in the hands of

M.S. Aggarwal Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : (2004)83TTJ(Del)692

of the Income Tax Act. Chapter XIV-B consisting of section 158B to section 158BH was introduced by the Finance Act, 1995 with effect from 1-7-1995 to make procedure of assessment of search cases more effective, The chapter is … been made in the Central Circle, Kanpur in the month of July, 2001 much after the search carried out by the Income Tax Authorities at … taken by the assessed. thereforee, the order is liable to be cancelled.3. That the search and seizure under section 132 is illegal, void ab initio and was without compliance of the various provisions stipulated under section 132 of

Binani Zinc Ltd. and ors. Vs. Commissioner of Central Excise,

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

Subject : Excise

of Finance Act, 2001, but also validation of action with reference of Section 131 has been made vide Section 132 of the Finance Act. He referred to Section 132 which reads as under: "132. Validation of certain action … reference to retrospective validation of action taken under Section 11A of the Central Excise Act 1944 under the Finance Act 2001, is relevant in this context to decide the issue. She drew our attention to the relevant portion of

Sunrise Structurals and Engg. Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Excise

Reported in : (2004)(117)LC307Tri(Mum.)bai

2001 with retrospective effect has been relied upon in the present case to continue the proceedings. Explanation to Section 132 of the Finance Act, 2001 states that no penalty is imposable on any person by virtue of Section … Rules in 2000. The saving clause contained in Section 38A of the Central Excise Act, 1944 inserted by Finance Act, 2001 with retrospective effect has been relied upon in the present case to continue the proceedings. Explanation to Section

Madhavi Finvest (P) Ltd. and ors. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Vizag

Subject : Direct Taxation

Reported in : (2006)99TTJVisakha933

only on this basis.25. Chapter XIV-B which consists of Section 158B to Section 158BH was introduced by the Finance Act, 1995 w.e.f. 1st July, 1995 to make procedure of assessment of cases in which search is initiated under … Golden Agro Tech Industries Ltd., V.K. Rao Puram, Samalkot, East Godavari District.Search and seizure operation took place under Section 132(1) by issuing search warrant in her name. During the course of search and seizure operations as per the