Court : Delhi
Reported in : (2001)169CTR(Del)477
..... arijit pasayat, c.j.at the instance of revenue, following questions have been referred for opinion of this court under section 256(1) of the income tax act, 1961 (hereinafter referred to as the act) by the income tax appellate tribunal delhi bench d (hereinafter referred to as 'the tribunal'). ..... 7,45, 109 could not be considered for purposes of computing the commercial profits of the assessed-company for the purposes of section 104 of the income tax act, 1961 ? ..... '(ii) 'if the answer to the first question is in the negative, whether the tribunal was right in cancelling the orders passed by the income tax officer under section 104 of the act for the two assessment years 1974-75 and 1975-76 ? ..... assesses stand before the income tax officer was that having regard to accumulated past losses and the smallness of profits, payment of dividend by the assessed would be unreasonable within the meaning of section 104(2)(i) of the act, and thereforee, provisions of section 104(1) were not to be invoked in its case for the two assessment years. ..... tribunal held that with reference to the facts and figures relating to distributable surplus, as computed by income tax officer in both the years, there was hardly any scope for dispute regarding applicability of section 104(1) of the act. ..... factual position, in a nutshell, is as follows :assessed, at the relevant point of time, was a private limited company carrying on business in agricultural activities and dairy-farming. .....
Tag this Judgment!Court : Delhi
Reported in : [2000]246ITR488(Delhi)
devinder gupta, j. 1. the following question of law has been referred to this court for its opinion :'whether, on the facts and in the circumstances of the case, the assessor-society is entitled to exemption in respect of the profits derived by it from 'marketing agricultural produce of its members under section 80p(2)(a)(iii) of the income-tax act, 1961, for the assessment years 1970-71 and 1971-72 ?'2. the assessed is a co-operative society dealing in the purchase, of various goods and directly undertakes exports and inter-state trade and arrang'es imports of agricultural inputs and other essential activities needed by the farmers. in view of the statement of facts and that the profits derived by it for the relevant assessment years is from marketing agricultural produce of its members, the question is now fully covered by the decision of the supreme court in kerala state, co-operative marketing federation ltd. v. cit : [1998]231itr814(sc) .3. the question thus is answered in favor of the assessed and against the revenue that the assessed is entitled to exemption under section 80p(2)(a)(iii) of the income-tax act, 1961, for the relevant assessment years.
Tag this Judgment!Court : Delhi
Reported in : [2004]141TAXMAN57(Delhi)
b.c. patel, c.j.in these three references, an identical question has been referred by the income tax appellate tribunal for the opinion of this court. the question reads as under :'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in law in holding that no capital gain was assessable on the ground that the agricultural land in village nangal dewat belonging to the assessed did not fall within the definition of capital asset under section 2(14)(iii) of the income tax act, 19612. it may be noted that the tribunal considered the decision in the case of surjan singh of nangal dewat and rendered the decision. against the decision of the tribunal, the revenue approached this court and the case in cit v. surjan singh (2003) 260 itr 351 . the question raised in the aforesaid appeal reads as under :'whether, on the facts and in the circumstances of the case, capital gains arising on transfer of agricultural lands in village nangal dewat, delhi, is chargeable to tax ?'3. the court answered the question in the affirmative, that is, in favor of the revenue and against the assessed which no order as to costs. since the question is the same, lands are of the same village, in view of the aforesaid decision we decide the question in favor of the revenue and against the assessed with no order as to costs.
Tag this Judgment!Court : Delhi
Reported in : [2001]79ITD582(Delhi)
..... 6.78 crores under the head capital gains which was set off against its claim for exemption under section 54ea of the income tax act, 1961 (hereinafter referred to as the 'act') on the plea that net consideration was received on account of transfer of long-term capital assets being in the ..... (supra) in which their lordships, while discussing the provisions of sections 105 and 106 of the income tax act, have observed as under :'a characteristic of a periodical tenancy is that as each period commences, it is not a new tenancy; it is really an accretion to the old tenancy, a monthly tenancy that is a tenancy subject to ..... instant case as the lease was granted for building purposes and not for agricultural or manufacturing purposes the tenancy created by holding over under section 116 was a monthly tenancy terminable on the part of either the lesser ..... duration of certain leases in absence of written contract or local usage - in the absence of a contract or local law or usage to the contrary, lease of immovable property for agricultural or manufacturing purposes shall be deemed to be a lease from year to year, terminable, on the part of either lesser or lessee, by six months' notice expiring with the end of a year ..... act were in respect of the situation where there was no written agreement for lease in between landlord and tenant then the legislature prescribed the tenancy so far as agricultural property was concerned would be year to year basis and for other immovable property it would be .....
Tag this Judgment!Court : Delhi
Reported in : (1991)91CTR(Del)228; [1991]187ITR506(Delhi)
..... financial difficulties and absence of liquidity, the tax deducted at source was deposited by the company with the income-tax department with some delay.the income-tax officer served a notice dated january 25, 1982 in respect of the years 1979-80 and 1980-81, requiring the company to show cause why penalty under section 221 of the income-tax act (hereinafter referred to as 'the act') should not be imposed, as the company had either failed to deduct the income-tax at the time of payment of salaries and/or after ..... of share capital of the company and was the real person who was managing the company and was responsible for the conduct of the affairs of the company.the company is carrying on the business of hiring agricultural machinery and equipment like kolhus and pans for cane crushing to farmers and other persons. ..... if there is a proceeding on a charge, it would come within the purview of section 279 and compounding of the offence would be within the section, and the assessed cannot claim a refund of the composition fee on the ground that he had really committed no offence. ..... pindwal, income-tax officer, in brief, is that the petitioner was in charge of and responsible to the company for the conduct of its business and as such has rightly been arrayed as an accused in the complaint. .....
Tag this Judgment!Court : Delhi
Reported in : 1991(2)Crimes241; 43(1991)DLT23; 1991RLR79
..... (3) the income tax officer served a notice dated 25-1-82 in respect of the years 1979-80 and 1980-81, requiring the company to show cause why penalty under section 221 of the income tax act (hereinafter referred to as the act) should not be imposed, as the company had either failed to deduct the income tax at the time of payment of salaries and/or after deducting bad failed to pay the same ..... to appreciate the rival contentions of the parties, it is relevant to keep in mind section 279 of the income tax act and the instruction no. ..... (6) the contention of the learned counsel for the petitioner is that under section 279 of the act, the commissioner of income tax or any person authorised by him can file a complaint under section 276b of the act under subjection (2) of section 279, the commissioner has been given an express power to compound the offences either before or after the institution ..... if there is a proceeding on a charge, it would come within the purview of section 279 and a compounding of the offence would be within the section, and the assessed cannot claim a refund of the composition fee on the ground that he had really committed ..... (2) the company is carrying on the business of hiring agricultural machinery and equipment like kolhus and pans for cane crushing to the farmers and ..... pindwal, income tax officer, in brief, is that the petitioner was the in charge of and responsible to the company for the conduct of its business and as such has rightly been arrayed as an accused in .....
Tag this Judgment!Court : Delhi
Reported in : 21(1982)DLT14b; ILR1982Delhi626; 1982LabIC833
..... commissioner of income tax : punjab (2), it was held that where the return under the income tax act did not mention the period to which the income declared related nor whether the accounts were kept on mercantile accountancy system the return did not comply with the requirement and the income tax officer was held entitled to make an assessment under section 23(4) of the act treating the return as no return. ..... section 45a is really analogous to provision like section 23(4) of the income tax act or section 144 of the income tax act 1961 which provides for a best judgment assessment in case return is not filed. ..... (6) 'that a return which completely ignores the provisions and the rules of the income tax act which lay down how a return is to be filed under the income tax act cannot be considered as any return'.. ..... 'a return which is not verified by the assesses was held to be no return by the supreme court' in commissioner of agricultural income tax, west bengal vs . ..... (5) some observations, which were obiter, were made by the learned judge that even if in a case where the factory obstructs the officers in the discharge of his duty the corporations expected to make an order under sub-section (1) of section 45a but before such an order is made, it is essential that the employer should be given another opportunity to explain whether the quantum determined by the corporation is justified or not. .....
Tag this Judgment!Court : Delhi
Reported in : (2008)220CTR(Del)531; 2008(106)DRJ389
..... had sold agricultural land at rs 57,37,500/- in march, 1996 and in its return had claimed exemption under the provisions of section 2(14) of the income-tax act, 1961 (hereinafter referred to as 'the said act'). ..... already noticed that in the present case, the commissioner income-tax (appeals) as well as the tribunal have returned the concurrent finding of fact that there was no material before the assessing officer on the basis of which the assessing officer could have maintained a belief that the agricultural land sold by the assessee was a capital asset within the meaning of section 2(14) of the said act. ..... must have either reasons to believe that by reason of the omission or failure on the part of the assessee to make a return under section 139 for any assessment year to the income-tax officer or to disclose fully and truly all material facts necessary for his assessment for that year, income chargeable to tax has escaped assessment for that year or alternatively notwithstanding that there has been no omission or failure as mentioned above on the part of the ..... ]79itr603(sc) , dismissed the appeal of the revenue and affirmed the order passed by the commissioner of income-tax (appeals) saying that the initiation of the proceedings under section 147 and issuance of notice under section 148 were without jurisdiction and were illegal. ..... requirements of clause (a) or clause (b) of section 147 are satisfied, the income-tax officer has no jurisdiction to issue a notice under section 148. .....
Tag this Judgment!Court : Delhi
Reported in : (2005)194CTR(Del)481; 119(2005)DLT90; 2005(81)DRJ171; [2005]278ITR356(Delhi)
..... alia, to tone down the rigour of the law and ensure a fair enforcement of its provisions, by issuing circulars in exercise of its statutory powers under section 119 of the income-tax act which are binding on the authorities in the administration of the act. ..... a party was also discussed by the kerala high court in the case of commissioner of agricultural income-tax v. ..... law arises in the present writ petition is to the meaning of the expression 'made' appearing in proviso to section 80mm of the income tax act (hereinafter referred to as the `act'). ..... the supreme court, ultimately held that the only restriction on the power of the board under section 119 of the act is to prevent it from interfering during the course of assessment of any particular assessed or the discretion of the commissioner of income-tax (appeals).it is true that the aforementioned observations have been made in the context of clause (1) of section 119(2) of the act but we are of the view that the same shall apply in full force even to clause ..... , or in the working of a mine, oil well other source of mineral deposits, or in the search for, or discovery or testing of, mineral deposits or the winning of access to them, or in carrying out any operation relating to agriculture, animal husbandry, dairy or poultry farming, forestry or fishing , or(ii) rendering services in connection with the provision of such technical know-how under an agreement entered into by the assessed with such person on or after the 1st day .....
Tag this Judgment!Court : Delhi
Reported in : (1999)63TTJ(Del)557
..... 68, where any sum is found credited in the books of the assessed for any previous year, the same may be charged to income-tax as income of the assessed of that previous year if the explanationn offered by the assessed about the nature and sources thereof, is in the opinion of the ao, not satisfactory. ..... nathu ram that the various other dealers and commission agents of agricultural produce represented by the same counsel have also resorted to similar kind of device of introducing credits in similar manner and had there been such significant contradictions and inconsistencies in the statement of the lady depositors in that ..... 4(1) of the present act speaks of levy of income-tax on the total income of every person, it necessarily means the person who is liable to pay income-tax in respect of that total income according to law. ..... cit (supra) held as underatpage257:'the scheme of the act makes it abundantly clear that it was to protect only those who preferred to disclose the income they themselves had earned in the past and which they had failed to disclose at the appropriate time. ..... 24 of the act disclosing unaccounted income of the assessed as their own and claiming that the said income was kept by them in deposit with the assessee.atp, 258:. ..... 24 of the act precludes the department from proceeding against the person to whom the income actually belonged. .....
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