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Commissioner of Income-tax Vs. Khushlal Chand Nirmal Kumar

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 131(1), 158BB, 158BB(1) and 158BC; Finance Act, 2002

Reported in : (2003)183CTR(MP)503; [2003]263ITR77(MP)

which has been referred to above in paragraph 61.3.2 has laid down as under (page 58) :'61.3.2. The Finance Act, 2002, has amended Section 158BB to clarify that the block assessment of undisclosed income is to be based on … information and material one and legally obtainable under the provision. He has also drawn our attention to Section 131(1)(d) of the Act. To bolster his submission he has placed reliance on the decisions rendered in the case

Commissioner of Income Tax, Central-1, New Delhi Vs. Shailendra Mahto

Court : Delhi

Subject : Direct Taxation

Sections 158B clause (b), 158BA, 158BB, 158BC and 158BD of the Act. The said provisions post amendment vide Finance Act, 2002 with retrospective effect from 1 st July, 1995, read as under:“Section 158B. In this Chapter, unless the context … block assessment period. The Tribunal has upheld the said contention on the basis of statements on oath under Section 131 of the Act, of Suraj Mandal, Shibu Soren and Simon Marandi on 14th March, 1996 and that of

Commissioner of Income-tax Vs. Parmanand M. Patel

Court : Gujarat

Subject : Direct Taxation

Acts : Delhi Sales Tax Act, 1975 - Sections 56; ;Marriage Act 1955 - Sections 15(2); ;Finance Act, 2002; ;Income Tax Act, 1922; ;Constitution of India - Article 141; ;Karnataka Sales Tax Act, 1957 - Sections 22A; ;Income Tax Act, 1961 - Sections 2(43), 139(1), 139(2), 142(2A), 143(3), 148, 256(1), 263, 271, 271(1), 271A, 271B, 272A(2), 274 and 275; Income Tax Act, 1922 - Sections 3, 3(1), 7, 12, 12(3), 12(4), 12B (4), 13, 18, 18A, 22A and 28

Reported in : (2005)198CTR(Guj)641; [2005]278ITR3(Guj)

the Act, etc. 6.3 Inviting attention to the amendment made to Section 271(1) of the Act by the Finance Act, 2002 it was submitted that the said provision as it originally stood granted powers only to the Assessing Officer … which may satisfy the court that the fact was as alleged, even though some reasonable doubt may remain. 131-132] (II) SATISFIED -To be satisfied with a state of things means to be honestly satisfied in your own

Dy Cit, Central Circle 5 Vs. Mrs. Meena Nayan Chandan

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)5SOT1(Mum.)

as long as such income has been detected as a result of evidence gathered during the search.61.3-2 The Finance Act, 2002 has amended section 158BB to clarify that the block assessment of undisclosed income is to be assessed on … which is discovered as result of enquiry or investigation other than search, in the proceedings initiated under sections 131, 133A, 133, 142(1), 143(2) or 142(IA), 147/148. The undisclosed income falling in this domain will suffer tax at

Commissioner of Income Tax Vs. Purshottam Khatri

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 5(1), 6(6), 10(4), 80L, 131, 132, 132(4), 143(3), 158BB(1), 158BC and 260A; Foreign Exchange Regulation Act, 1973 - Sections 13 and 14; Finance Act, 2002

Reported in : [2007]290ITR260(MP); 2006(3)MPLJ131

observations.Mr. Rohit Arya, learned Counsel very fairly submitted that Section 158BB of the Act has been amended by Finance Act of 2002 w.e.f. 1st July, 1995 and the effect of such amendment is that the undisclosed income for … by a Court deciding only question of law [See Mehta Parikh & Co. v. CIT (1956) 30 ITR 131]. In CIT v. Ashok Kumar Jain, CIT v. Kantilal and CIT v. Raghavan (supra) cited by Mr. Shrivastava,

Shri Saurabh Srivastava Vs. Dy Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : MRTP

Reported in : (2008)111ITD287(Delhi)

copy placed at pages 101 to 134 of the paper book).4.6. The Ld. AR submitted that subsequently, the Finance Act, 2002 inserted clause (va) in Section 28 of the Act w.e.f. 1.4.2003, as per which the receipts of the … two judgments of the Hon'ble Supreme Court in the cases of Kapur Chand Shrimal v. CIT, reported in 131 ITR 451 and 40 ITR 398 (there is no such judgment reported in this ITR at page 398),

Shri Saurabh Srivastava Vs. Dy. Commr. of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : MRTP

copy placed at pages 101 to 134 of the paper book).4.6. The Ld. AR submitted that subsequently, the Finance Act, 2002 inserted Clause (va) in Section 28 of the Act w.e.f. 1.4.2003, as per which the receipts of the … two judgments of the Hon'ble Supreme Court in the cases of Kapur Chand Shrimal v. CIT reported in 131 ITR 451 and 40 ITR 398 (there is no such judgment reported in this ITR at page 398),

Napar Drugs Pvt. Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2006)98ITD285(Delhi)

and the recommendations made by the said Committee which led to the amendment of the Act by the Finance Act of 1972, whereby the exemption from tax that was available in respect of winnings from lotteries, crossword puzzles, … to file complete list of share holders of the company The AO on his own issued summons under Section 131 to various share holders. The summons were served and replies have been received confirming their investment in purchase

Commissioner of Income Tax vs.m. S. Aggarwal

Court : Delhi

Subject : Direct Taxation

the AO and relatable to such evidence.‖ The expression ―relatable to such evidence‖ has been inserted by the Finance Act, 2002 retrospectively w.e.f. 1.7.1995. A bare reading of this provision would indicate that undisclosed income has to be computed … Respondent/assessee himself had not given gift during the last 10 years. Respondent/assessee in his subsequent statement recorded under Section 131 of the Act on 6th January,2000 had again accepted and admitted that the gifts were bogus and had

The Commissioner of Income Tax vs.m. S. Aggarwal

Court : Delhi

Subject : Direct Taxation

the AO and relatable to such evidence.‖ The expression ―relatable to such evidence‖ has been inserted by the Finance Act, 2002 retrospectively w.e.f. 1.7.1995. A bare reading of this provision would indicate that undisclosed income has to be computed … Respondent/assessee himself had not given gift during the last 10 years. Respondent/assessee in his subsequent statement recorded under Section 131 of the Act on 6th January,2000 had again accepted and admitted that the gifts were bogus and had