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Abhay Kumar Shroff Vs. Commissioner of Income Tax and ors.

Court : Jharkhand

Subject : Direct Taxation

Acts : Income Tax Act 1961 - Sections 48, 132, 132A, 132(3), 139, 139(1), 140, 140A, 142, 142A, 142(1), 147 and 153; Finance Act, 1995 - Sections 158B to 158BH; Finance Act, 2003 - Sections 32A, 130, 132, 132A, 132B, 139, 140A, 142, 142(1), 142(2A), 143, 143(2), 143(3), 147, 148, 149, 151, 153, 153A, 153B, 153C, 234A, 234B, 245C, 245D, 245D(1), 245Q, 245Q(1), 245R, 245R(3), 245R(7), 246A and 276CC

Reported in : 2007(2)BLJR1552; (2007)210CTR(Jharkhand)602; [2007]290ITR114(Jharkhand); [2007(3)JCR264(Jhr)]

Section 32A was executed. In 2003, new provisions i.e. Sections 153A, 153B and 153C have been inserted in Finance Act, 2003 (32 of 2003) relating to assessment in case of search or requisition made on or before 1.6.2003, specifying … for the assessment year 2004-05 which was pending on the date of initiation of search and seizure under Section 132 of the Act has already awaited and continuation of the impugned assessment proceeding is wholly without jurisdiction illegal

Pawan Kumar and ors. Vs. Directorate of Revenue Intelligence

Court : Delhi

Subject : Criminal

Acts : Customs Act, 1962 - Sections 8, 11, 14, 27, 50(2), 111, 104, 113, 123, 132, 135, 135(1), 135(2), 136, 136(1) and 136(2); Finance Act, 2003; Income Tax Act, 1961 - Sections 43B; Finance Act, 1987; Indian Penal Code (IPC) - Sections 107; Foreign Exchange Regulation Act - Sections 18 and 67

Reported in : 2007(94)DRJ566; 2007(218)ELT331(Del)

135 of the Customs Act. This submission was based on the amendment in the Act made by the Finance Act, 2003, which had brought in the activities of fraudulent claim of duty drawback within the four corners of punishing … filed complaint against six accused persons alleging that they have committed certain acts, which are offences punishable under Sections 132 and 135(1)(a) of the Customs Act. The allegations, stated in nutshell, against these accused persons are that

Commr.of Income Tax-i,new Delhi Vs. Vatika Township P.Ltd.

Court : Supreme Court of India

Subject : Land Acquisition

with amendments in Section 158BE, would be prospective i.e. it will take effect from 1st June, 2002. (f) Finance Act, 2003, again makes the position clear that surcharge in respect of block assessment of undisclosed income was made prospective. … The facts in this appeal, which need recapitulation, are that there was a search and seizure operation under Section 132 of the Act on the premises of the assessee on 10.02.2001. Notice under Section 158BC of the Act

Assistant Commissioner of Income-tax Vs. Uttamchand V. Sethiya

Court : Gujarat

Subject : Direct Taxation

the category of assessees and for some years, there is no surcharge at all.... . . . (f) Finance Act, 2003, again makes the position clear that surcharge in respect of block assessment of undisclosed income was made prospective. … A search and seizure operation was carried out at the residential and business premises of the assessee under section 132 of the Act. The assessee filed return for the block period within 45 days of receipt of notice

Shivnath Rai HarnaraIn (India) Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2008)304ITR271(Delhi)

commencement of such search, and lay down the manner in which such income is to be computed. The Finance Act, 2003, has provided that the provisions of this Chapter shall not apply where a search is initiated under Section … issue involved in the grounds of appeal of the assessee are that a search and seizure operation Under Section 132 of the Income Tax Act, 1961 was conducted at the business premises of the assessee on 18.06.2003. Since,

Ajay Gupta Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 132, 132A, 132(5), 132B(4), 153A, 158BFA(2), 226 and 244A; Finance Act, 2002; Taxation Laws (Amendment) Act, 2003; Income Tax (Amendment) Act, 1965 - Sections 237, 238 and 244A; Finance Act, 2006; Taxation Laws (Amendment) Ordinance, 2003

Reported in : (2007)210CTR(Del)116; 2007(97)DRJ317; [2008]297ITR125(Delhi)

up to 30-9-1984) was previously stipulated in Section 132(5) of the IT Act until its omission by the Finance Act 2002 with effect from 1.6.2002. Section 132(5) also prescribed that the remaining portion of the assets must be … reason that by virtue of the Taxation Laws (Amendment) Ordinance, 2003, subsequently cemented by the Taxation Laws (Amendment) Act, 2003, the rate of interest stood reduced to 0.5 per cent per month with effect from 8-9-2003. Accordingly, interest

Commissioner of Income-tax, Central, Kanpur Vs. Raj Kumar Arora

Court : Allahabad

Subject : Direct Taxation

Bansal for the assessee. Section 153A of the Act was introduced in the Income Tax Act by the Finance Act, 2003, w.e.f. 1.6.2003 along with Section 153B and 153C. Section 153A of the Act provides for assessment in case … 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day

S.R. Batliboi and Co. Vs. Department of Income Tax (investigation)

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 69A, 131, 132, 132(1), 132(1A), 132(3), 132(13), 132(14), 133, 133(6), 139, 147 to 149, 151, 153, 153(2), 153A, 153B, 153C, 158BB, 158BD and 275B; Income Tax Rules - Rule 112(2); Chartered Accountants Act, 1949; Information Technology Act, 2000 - Sections 2(1); Finance Act, 2003; Stamp Act - Sections 73; Constitution of India - Articles 12, 14 and 19 and 226; Code of Criminal Procedure (CrPC)

Reported in : (2009)224CTR(Del)369; [2009]315ITR137(Delhi); [2009]181TAXMAN9(Delhi)

that the assessment must be completed within one year. Sections 153A, 153B and 153C were introduced by the Finance Act, 2003 with effect from 1.6.2003. In essence, Section 153A has in focus the 'case of a person where a … 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 authorized office, he shall be punishable with rigorous imprisonment for a

Income Tax Officer Vs. Vikram Sujitkumar Bhatia

Court : Supreme Court of India

Subject : Land Acquisition

132A has been made on or after 01.04.2017. It is submitted that while Section 153A was introduced by Finance Act, 2003, CIVIL APPEAL No.911 OF2022Page 38 of 67 the legislature considered the dates of search and specified that the … Section 153C of the Act, 1961 (as amended by Finance Act, 2015) would not apply to searches under Section 132 of the Act, 1961 initiated before the date of amendment, the Revenue has preferred the present appeals.2. At

Cit Vs. Anil Kumar Bhatia

Court : Delhi

Subject : Direct Taxation

Officer had wrongly invoked Section 153A of the Act. This Section was introduced into the Act by the Finance Act, 2003 w.e.f. 1.6.2003 along with Sections 153B and 153C. Section 153A provides for “assessment in case of search or … of M/s. A.K. Traders. On 13.12.05, there was a search of the assessee”s residence and business premises under Section 132 of the Act. Pursuant to the search, the Assessing Officer issued notices under Section 153A of the Act