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Commissioner of Income Tax vs.m. S. Aggarwal

Court : Delhi

Subject : Direct Taxation

-B of the Income-tax Act. Chapter XIV-B consisting of sections 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 … Tribunal vide order dated 19th January, 2003.4. By order dated 23rd May, 2005 ITA1692005 was admitted and the following substantial question of law was framed:-"―Whether … income have been filed under Section 139 or in response to a notice issued under subsection (1) of Section 142 or Section 148 but assessments have not been made till the date of search or requisition, on the

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

Court : Delhi

Subject : Direct Taxation

-B of the Income-tax Act. Chapter XIV-B consisting of sections 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 … Tribunal vide order dated 19th January, 2003.4. By order dated 23rd May, 2005 ITA1692005 was admitted and the following substantial question of law was framed:-"―Whether … income have been filed under Section 139 or in response to a notice issued under subsection (1) of Section 142 or Section 148 but assessments have not been made till the date of search or requisition, on the

at and T Communication Services India (P) Ltd. Vs. Commissioner of Inc ...

Court : Delhi

Subject : Land Acquisition

show cause notice was issued by the A.O. Section 142(2A), before insertion of the first proviso by the Finance Act, 2007, w.e.f. 1.6.2007, did not contemplate any show cause notice. Even so the Supreme Court in the case

Commissioner of Income Tax Vs. Omprakash Bagria (Huf)

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 55A, 69, 69A, 69B, 131(1), 139(5), 142, 142(1), 142A, 143, 143(1), 143(2), 144B, 147, 148 to 153, 153A, 156, 246, 246A and 260A; ;Finance Act, 2004 - Sections 34; Wealth Tax Act, 1957 - Sections 2 and 38A; Benami Transactions (Prohibition) Act, 1988 - Sections 4(2)

Reported in : [2006]287ITR523(MP)

purpose of capital gain only. But after the said judgment of the Supreme Court, Section 34 of the Finance Act, 2004 inserted a new Section 142A in the Act. The said Section 34 of the Finance Act, 2004 … the assessee ?When the matter was taken up again on 10th Jan., 2005, the Court lost sight of the fact that the appeal had already … having furnished a return under Sub-section (1), or in pursuance of a notice issued under Sub-section (1) of Section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before

Shri Kiran Nagji Nisar Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2008)300ITR286(Mum.)

assessee. Following submissions were made by him: a) It is submitted that amendment to Section 148 by the Finance Act, 2006 w.r.e.f. 01.10.1991 does not help the case of the revenue because as per this amendment also, notice … treated as return filed in pursuance to notice Under Section 148. Thereafter, the assessing officer issued notice under Section 142 (1) and in response to that, Sri Rajan Gala, C. A. appeared and submitted details to the assessing

Ashick Abraham vs Principal Chief Commissioner of Income Tax

Court : Kerala

to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the Finance Act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, re-assessment or … day of October, 1991 and ending on the 30th day of September, 2005 in response to a notice served under this section, and(b) subsequently a … expiry of one month from the date on which was served with a notice under sub section (1) Section 142 or sub section(2) of Section 143 or after the completion of the assessmentwhichever is earlier. Reference was also

Income Tax Officer Vs. Vikram Sujitkumar Bhatia

Court : Supreme Court of India

Subject : Land Acquisition

be referred to. The first proviso to Section 153C of the Act, 1961 came to be inserted vide Finance Act, 2005 with retrospective effect from 01.06.2003, which provides that the reference to the date of initiation of the search … no return of income has been furnished by such other person but no notice under sub-section (2) of Section 142 has been issued to him, or (b) a return of income has been furnished by such other person

Tanna and Modi Vs. C.i.T., Mumbai Xxv and ors.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Indian Partnership Act, 1932 - Sections 19; Income Tax Act, 1961 - Sections 132, 132A, 133A, 139, 142 and 148; Finance Act, 1997 - Sections 71(1) and 71(2); Voluntary Disclosure of Income Rules, 1997 - Rule 10; Wealth Tax Act; Foreign Exchange Regulation Act, 1975; Companies Act, 1956; Constitution of India - Articles 136 and 142

Reported in : AIR2007SC2301; (2007)210CTR(SC)273; [2007]292ITR209(SC); 2007(8)SCALE511

out.11. A Scheme known as Voluntary Disclosure of Income Scheme, 1997 was made by the Parliament under the Finance Act of 1997.12. Relevant provisions of the said Scheme, before we embark upon the rival contentions of the parties … Court of Judicature at Bombay in Writ Petition (Civil) No. 918 of 2005 dismissing the writ petition filed by the appellant herein, questioning the correctness … shall apply in relation to --(i) the income assessable for any assessment year for which a notice under Section 142 or Section 148 of the Income-tax Act has been served upon such person and the return has not

Krishna Lifestyle Technologies Ltd. Vs. Union of India (Uoi) Through t ...

Court : Mumbai

Subject : Excise

Acts : Customs Act, 1962 - Sections 142; Central Excise Act, 1944 - Sections 11; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2005 - Sections 13(6) and 35; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002; Finance Act, 2004 - Sections 11; Central Boards of Revenue Act, 1963 - Sections 11D; Customs Act, 1862; Karnataka Land Revenue Act - Sections 158 and 190; Contract Act - Sections 176; Central Sales Tax Act - Sections 9; Transfer of Property Act, 1882 - Sections 100; State Financial Corporation Act, 1951 - Sections 29 and 29(2); Karnataka Sales Tax Act - Sections 15; State Corporation Act, 1951 - Sections 25; Income Tax Act - Sections 2(13); Bombay Sales Tax Act, 1959 - Se

Reported in : (2008)110BOMLR456; 2008BusLR314(Bom); 2008(125)ECC208; 2008(151)LC208(Bombay); 2008(229)ELT173(Bom); 2009[16]STR669

issues, it would be necessary to reproduce Section 11 along with the proviso which was inserted by the Finance Act No. 2 of 2004 to the Central Excise Act, 1944 and which reads as under:11. Recovery of sums … secured creditors under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2005 (in short 'SARFAESI Act')?2. What is the effect of a prior attachment by revenue of the property of … dated 23-3-2005. This exercise was done pursuant to the provisions of Section 142(l)(C)(II) of the Customs Act, 1962 read with Customs (Attachment of Property of

Sahara India (Firm), Lucknow Vs. Commissioner of Income Tax, Central-i ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 44AB, 136, 142(2A), 142(2B), 142(2C), 142(2D), 142(3), 144, 153(3), 158BC, 269UD and 288; Finance Act, 2007; Bombay Municipal Corporation Act, 1888 - Sections 314; Chartered Accountants Act, 1949; Indian Penal Code (IPC), 1860 - Sections 193 and 228

Reported in : (2008)216CTR(SC)303; 2008(226)ELT22(SC); [2008]300ITR403(SC); JT2008(6)SC83; 2008(6)SCALE733; 2008AIRSCW3665

audit under Sub-section (2A) and proposed to be utilized for the purposes of the assessment.[* Inserted by the Finance Act, 2007 w.e.f. 1-6-2007].6. A bare perusal of the provisions of Sub-section (2A) of the Act would show that … Income Tax and Ors. According to learned Counsel for the petitioner, before any direction can be issued under Section 142(2A) of the Income Tax Act, 1961 (in short 'the Act') for special audit of the accounts of the