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Mubarak Trading Co. Vs. the Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 139(1), 139(4), 139(5), 142(1), 142(2A), 143(1), 143(2), 143(3), 144, 144(1), 147, 148, 184(5), 185, 260A and 263; Finance Act, 2003 - Sections 184(5)

Reported in : (2009)222CTR(Ker)194; 2008(2)KLJ647; 2008(3)KLT813

Court in I.T.A.No. 4 of 2004 dated 20-2-2004 and also paragraph 66 of the Explanatory Note to the Finance Act, 2003, by which Section 184(5) was amended with effect from 1-4-2004 and contended that in order to deny the … Act, he simultaneously issued notice under Section 148 of the Act proposing to make income escaping assessment under Section 147 of the Act. On receipt of notice the appellant requested the assessing officer to treat the belated return

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 … Section 139 or in response to a notice under Section 142, the Assessing Authority shall make assessment. Under Section 147 of the Act if the Assessing Officer has reason to believe that any income chargeable to tax has

Anil Kumar Forma (Huf) and ors. Vs. Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 45(5) and 147; Finance Act, 2003; West Bengal Land (Requisition and Acquisition) Act

Reported in : (2007)209CTR(Mad)246; [2007]289ITR245(Mad)

the facts and in the circumstances of the case, Section 45(5)(c) of the Income-tax Act inserted by the Finance Act, 2003 w.e.f. 1.4.2004 is applicable for the assessment years 1997-98 and 1998-99?3. Whether on the facts and in the … limit to prefer appeal expired.2.3. The assessing officer reopened the assessments for assessment years 1997-98 and 1998-99 under Section 147 of the Income-tax Act and made reassessments bringing to tax the amounts received by the assessees as per

Assistant Commissioner of Income Vs. Apsara Processors (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)92TTJ(Ahd.)645

Anr. v.Asstt. Commr. of Agrl. FT (2003) 264 ITR 285 (Kar). He also submitted that in Explanation to Section 147, the legislature has specifically provided for reopening of assessment where excessive loss has been computed. If the legislature … is loss having regard to the amendment made by the Taxation Laws (Amendment) Act, 1975, and by the Finance Act, 2002 ?" 2. The facts which are common in all the cases are that all the assessees have

Present : Mr. Sanjay Bansal Senior Advocate with Vs. the Assistant Com ...

Court : Punjab and Haryana

Subject : Direct Taxation

the notices issued to the petitioner is insertion of sub-section (4A) in Section 11 of the Act by Finance Act, 1983 w.e.f. 01.04.1984. Sub-section (4A) has been again substituted by Finance (No.2) Act, 1991 w.e.f. 01.04.1992. The relevant … institution, And separate books of account are maintained by the Trust or institution in respect of such business. Section 147 - Income escaping assessment As it existed in the year 1984 As substituted by the Direct Tax Laws

N. Jayaprakash, Package India TIn Fabricators Vs. Cit

Court : Kerala

Subject : Direct Taxation

Reported in : [2006]152TAXMAN432(Ker)

section 148 legal and valid in the light of the amended provision contained in section 148 as per Finance Act 2 of 19962. Whether on the facts and in the Circumstances of the case the Tribunal is justified … Family Court under Section &(2)(a) is criminal in nature. [Kunhimohammammed v Nafeesa, 2003 (1) KLT 364; 2004 Cri LJ 1000 (Ker) Overruled]. Reference to Full … as unamended.'148. Issue of notice where income has escaped assessment(1) Before making the assessment, reassessment or recomputation under section 147, the assessing officer shall serve on the assessee a notice requiring him to furnish within such period, not

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 … in case of search or requisition”. It runs as follows: “153A. [(1)] Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, in the case of a person where a search

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 … party. This Section reads as under:153C. Assessment of income of any other person.Notwithstanding anything contained in Section 139, 147, Section 148, Section 149, Section 151 and Section 153, where the Assessing Officer is satisfied that any money,

Jagatdal Jute and Industries Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2004)1SOT210(Kol.)

the return of income for the year, is unsustainable in law particularly in view of amendments, introduced by Finance Act, 2003 in section 43B of Income Tax Act, 1961, which are to be treated as having retrospective effect covering … perusal of the assessing officers order, it is seen that the assessing officer has intiated reassessment proceedings under section 147 on the ground that the aforesaid payments pertaining to the month of March, 1996 were not paid by

Gujarat Credit Corp. Ltd. Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2008)113ITD133(Ahd.)

referred to Circular No. 549 dated 31/10/1989 explaining this amendment of the provisions of Section 147 by the Finance Act, 1987 w.e.f. 01/04/1989 stating that the Amending Act, 1987, has rationalized the provisions of Section 147 and other