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J.K.K. Angappan and Bros. Vs. Commissioner of Income-tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 220(2); Finance Act, 1965 - Sections 68; Finance (No. 2) Act, 1967 - Sections 1, 46 and 156

Reported in : [1973]91ITR513(Mad)

The said writ petitions were admitted and stay of the assessment proceedings had also been granted.2. Thereafter, the Finance (No. 2) Act of 1967 came to be passed and sections 1 and 46 of that Act are as under :'1. … Ramanujam, J. 1. The petitioners made a voluntary disclosure of income under Section 68 of the Finance Act, 1965. The tax payable on the income so voluntarily disclosed amounted to Rs. 15,55,500. The said tax was due

Sunita Sabharwal Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 139 and 140; Finance (No. 2) Act, 1965 - Sections 24 and 24(4); Hindu Minority and Guardianship Act, 1956 - Sections 6, 8 and 11

Reported in : [1973]92ITR377(Delhi)

No. 85 of 1967 is Miss Sunita Sabharwal, minor daughter of H. L. Sabharwal. Section 24 of the Finance (No. 2) Act, 1965, provided for voluntary disclosure of income on conditions mentioned therein, by a person who had failed to furnish

Pioneer Trading Syndicate Vs. Commissioner of Income-tax

Court : Allahabad

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Sections 24(9), 24(10), 24(11) and 24(15)

Reported in : (1979)12CTR(All)349; [1979]120ITR5(All); [1979]2TAXMAN469(All)

was reiterated before the Tribunal that all the three creditors had made disclosures before the CIT under the Finance (No. 2) Act, 1965, of the following amounts : Rs.(i) Sri Jagat Ram 20,000(ii) Smt. Gita Singh 20,000(iii) Smt. Viranwali 10,000 4. … rival submissions will depend upon the interpretation of the various provisions of the Finance (No. 2) Act of 1965. Section 24 of this Act was headed as 'voluntary disclosure of income'. It consists of sixteen sub-sections. Sub-section (1)

Union of India (Uoi) and ors. Vs. Tulsidas Bhimji and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Section 24, 24(2) and 24(4)

Reported in : [1977]109ITR557(Cal)

proceedings for recovery. For determining the income-tax payable on declaration of income contemplated under Section 24 of the Finance (No. 2) Act, 1965, which is accepted unless thereis a proceeding under Sub-section (4), there is no scope for any hearing of

Radheshyam Tibrewall and Shree Ganeshdass Oil and Rice Mills Vs. Commi ...

Court : Guwahati

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Sections 24

of the disclosure petitions filed by Smt. Swati Devi and Smt. Bhagwati Devi under Section 24 of the Finance (No. 2) Act, 1965. The Tribunal held that the amount of taxes due on the disclosed income had been paid by the

Commissioner of Income-tax Vs. Kanhayalal Mukundlal

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 271(1); ;Finance (No. 2) Act, 1965 - Section 68

Reported in : [1987]166ITR274(Cal)

file a voluntary disclosure. In fact, the assessee subsequently filed a disclosure petition under Section 68 of the Finance (No. 2) Act, 1965.3. The Income-tax Officer did not accept the explanation of the assessee. He held that there was no connection

Commissioner of Income-tax Vs. Bhartia Steel Engg. Co. (P.) Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Indian Income Tax Act, 1922 - Section 23A; ;Finance (No. 2) Act, 1965 - Section 24

Reported in : [1986]162ITR20(Cal)

the assessee-company had made a voluntary disclosure of Rs. 8,60,000 as undisclosed income under Section 24 of the Finance (No. 2) Act, 1965. The Tribunal held that this letter of voluntary disclosure did not contain any admission of concealment of income

Mohd. Ahsan Wani Vs. Commissioner of Income-tax Overruled

Court : Jammu and Kashmir

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Section 24; ;Income Tax Act, 1961 - Section 251

Reported in : [1977]106ITR84(J&K)

declared by Teja Begum Nazir Ahmad and Javeed Ahmad on January 25, 1966, under Section 24(1) of the Finance (No. 2) Act, 1965, and the amount of Rs. 85,000 alleged to have been advanced by them to the assessee on September

Addl. Commissioner of Income-tax Vs. Samrathmal Santoshchand

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Sections 24 and 24(3); Income Tax Act, 1961 - Sections 68

Reported in : [1980]124ITR297(MP)

justified in law in holding that the acceptance of the voluntary disclosure petitions under Section 24 of the Finance (No. 2) Act of 1965 and the payment of tax thereon by the creditors would, in law, justify the deletion of

Lachhiram Puranmal and anr. Vs. Income-tax Officer and ors.

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 68 and 143(2); Finance (No. 2) Act, 1965 - Sections 24

Reported in : [1990]184ITR186(MP)

Jamnaprasad Kanhaiyalal v. CIT : [1981]130ITR244(SC) has taken a view that the declaration under Section 24(2) of the Finance (No. 2) Act, 1965, had to relate to income actually earned by the declarant and the Act granted immunity to the declarant