Court : Punjab and Haryana
Reported in : [1980]121ITR161(P& H)
..... facts and circumstances of the case, the tribunal was legally right in holding that the assessment order passed by the income-tax officer was 'erroneous' as contemplated under section 263 of the income-tax act, 1961, and therefore, the commissioner was competent to revise the assessment ? 3. ..... question of law to this court for its opinion :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessment made by the income-tax officer under the provisions of section 147 was not covered by clause (a) of sub-section (2) of section 263 of the income-tax act, 1961, and consequently, the commissioner was not precluded from revising the assessment under section 263 ?'6. ..... under section 263 as made by the commissioner of income-tax for setting aside the assessment with the directions to the income-tax officer to frame a fresh assessment under the law after making proper investigation and after giving a reasonable opportunity to the assessee to explain his case is not vitiated and illegal in view of the opinion expressed by him in the order that the explanation with regard to the source of investment in the purchase of agricultural ..... source of these investments out of his agricultural income and through loan from the financiers and ..... the receipt of the application, spot enquiries were made by the inspector of income-tax which revealed that the assessee had acquired agricultural land at two places and, had also invested money on the renovation .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1966]62ITR147(P& H)
..... hobbs case has held that under section 10 of the mysore agricultural income-tax act, which corresponds to section 41 of the indian income-tax act, 1922, the measure of liability of the executor is co-extensive with that of the several beneficiaries. ..... state of bihar, the supreme court, while dealing with the provisions of the bihar agricultural income-tax act (32 of 1948), which are almost identical with those of the income-tax act, 1922, held thus :'... ..... mani lal dhanji, their lordships of the supreme court at page 886 observed that under section 41 of the income-tax act it was open to the department either to tax the trustees of the trust deed or to tax those on whose behalf the trustees had received the amount. ..... it was further said that the petitioners request could not be entertained, because the provisional assessments under section 23b of the income-tax act, 1922, had already been made, according to law, before the receipt of the petitioners representation. ..... ever since the appointment of the receiver, provisional assessments for the various years had been made by the income-tax authorities under the provisions of section 23b of the income-tax act, 1922, and demands for advance tax were made from the petitioner. ..... it was also stated that section 41 of the income-tax act, 1922, was an enabling section and there was nothing to compel the income-tax officer to frame an assessment or to make a demand on the receiver only. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1992)102PLR712
..... 'their lordships referred to their earlier decision in board of agriculture income-tax, assam v. ..... if fair rent has been fixed in respect of a demised premises, the landlord is prohibited under this section from charging anything in excess of the fair rent from the tenant if fair rent has not been fixed, there is no prohibition for increase of prevailing rent by mutual agreement by the parties. ..... being to have fair rent fixed and to have any increase permitted by the statute the tender made by the tenant on the first hearing of the eviction application was proper and valid tender according to proviso to section 13 (2) (i) of the act, and so the appellate authority was wrong in ordering eviction of the tenant for non compliance of that proviso. ..... 169, and after referring to various other earlier judgments and section 105 of the transfer of property act, observed thus : --'under section 105 of the transfer of property act, a lease of immovable property is a transfer of a right to enjoy the property made for a certain time, express or implied or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered periodically or on specified ..... section 7 prevents the landlord from charging fine or premium for grant, renewal or continuance of tenancy of any building.sections 6 and 7 of the act read thus :--'6. ..... sindhurani chaudhurani (1957) 32 i. t. r. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1971]80ITR248(P& H)
..... 2673 of 1970), challenging the validity of section 24 of the finance act, 1969, so far as the same amended relevant provision of wealth tax act, 1957, and included the capital value of agricultural land in computing the total assets on which wealth tax is payable.2. ..... whereas a bad quality of land, which produces very little, in the vicinity of a big town would be valued at a very high price and thus a person owning land in the vicinity of a big town shall be subjected to a larger amount of tax although he can get much less income out of the same and he would thus be forced to sell the land and that this will not be in accordance with the directive principles embodied in art. ..... , it is imposed on the total assets which the assessee owns, and in determining the net wealth not only the encumbrances specifically charged against any item of asset, but the general liability of the assessee to pay his debts and to discharge his lawful obligations have to be taken into account. ..... it is imposed on the total assets which the assessee owns and in determining the net wealth not only the encumbrances specifically charged against any item of asset, but the general liability of the assessee to pay his debts and to discharge his lawful obligations have to be taken into account. ..... charging section is section 3. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1992)105CTR(P& H)378; [1993]199ITR490(P& H)
..... it is, therefore, not exempt from income-tax under section 10(1) of the income-tax act as agricultural income. ..... thus, ' agricultural income ' as defined in the income tax act becomes the definition of that term for the purpose of the constitution also. ..... thus, parliament, in terms of entry 82, list i, of the seventh schedule to the constitution, becomes competent to define the term ' agricultural income ' for the purpose of the constitution and the income-tax act. ..... according to section 10, ' agricultural income ' shall not be taken as the total income of a previous year of any person ; and by force of section 45, any profits or gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 53, 54, 54b, 54d, 54e, 54f, 54g and 54h, be chargeable to income tax under the head ' capital gains', and shall be deemed to be the income of the previous year in which the transfer took place. ..... we also make it clear that in cases where income-tax is to be charged on the ' profits and gains ', regular proceedings under the law shall be initiated by issuance of due notices.16. ..... if profit or gain results from such a sale, it is chargeable, not because it is revenue, but because the statute specifically charges the resulting capital gain by including it as income. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2002]253ITR659(P& H)
..... the assessee claimed deduction in respect of the assessment years 1992-93 to 1995-96 under section 80p(2)(a)(iii) of the income-tax act, 1961. ..... it was, inter alia, held that (page 820) : 'the only condition required for qualifying the assessee's income for exemption was that the assessee's business must be that of marketing, the marketing must be of agricultural produce and that agricultural produce must have belonged to the members of the assessee-society before they came up for marketing by it, whether on its own account or on account of the members themselves'. ..... (2) the sums referred to in sub-section (1) shall be the following, namely : - (a) in the case of a co-operative society engaged in- (i) carrying on the business of banking or providing credit facilities to its members, or (ii) a cottage industry, or (iii) the marketing of agricultural produce grown by its members, or (iv) the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members, or (v) the processing, without the aid of power, of the agricultural produce of its members, or (vi) the collective disposal of the ..... it was held by their lordships that (page 713) 'the goods in question having been marketed and the business of the assessee being marketing of the agricultural produce of its members, the case clearly falls under section 81(i)(c) even though it may not fall under clause (e) thereof. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1990)86CTR(P& H)13; [1990]185ITR375(P& H)
..... union of india : [1989]177itr358(ker) , had upheld the vires of sections 44ac and 206c of the act on the ground that these provisions were inserted in the income-tax act with the object of working out profits on a presumptive basis to get over the problems in assessing the income and recovering the tax in the cases of persons dealing in timber, forest produce, country liquor, etc. ..... the non obstante clause in section 44ac excludes the application of the provisions of sections 28 to 43c of the income-tax act to the liquor contractors carrying on the business of country liquor. ..... the challenge in this bunch of writ petitions is directed against the legality and constitutional validity of sections 44ac, 206c and 276bb incorporated in the income-tax act, 1961 (hereinafter referred to as 'the act'), by the finance act, 1988. ..... this entry authorises parliament to make laws with respect to income other than agricultural income. ..... in the meantime, various distilleries filed applications for vacation/modification of the stay orders passed by the motion benches on the plea that the applicants (the distilleries) were obliged by the impugned provisions to charge/collect income-tax from the liquor contractors on the purchase price and to deposit the same in the union treasury. ..... entry 82of list i of the seventh schedule to the constitution empowers parliament to frame laws in relation to taxes on income other than agricultural income. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1968]67ITR788(P& H)
..... the assessment was accordingly set aside on the ground that the appellate assistant commissioner had no jurisdiction to alter an assessment made buy the agricultural income-tax officer on the tripura state into an assessment on the petitioner-ruler personally as no proceedings were started and no notices were served under the act on the petitioner himself personally.it is contended by mr. ..... petitioner filed a return in respect of the assessment year 1953-54 on 18th of june, 1953, and simultaneously an application was made to the income-tax officer concerned under section 26a of the indian income-tax act, 1922 (act 11 of 1922) (hereinafter called the act), for registration of the firm. ..... das, speaking for the court, 'as used in section 3 of the income-tax act means as association in which two or more persons join in a common purpose or common action, and as the words occur in a section which imposes a tax on income, the association must be one the object of which is to produce income, profits or gains. ..... the position is made clear by the definition of 'person' in sub-section (31) of section 2 of the income-tax act, 1961, clause (v) of which says that, 'an association of persons.. ..... may be stated at once that section 3 of the act, which is the charging provision, says that :'..... ..... ' it may be mentioned that upto 1939 the charging section, inter alia, refers to 'association of individuals' and after that date the nomenclature is changed to 'association of persons' to make it more .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2008]303ITR389(P& H)
..... processed under section 143(1)(a) of the income tax act, 1961 (for short 'the act') on 29.7. ..... for the assessment year 1997-98, for opinion of this court: (i) whether in fact and circumstances of the case, the action of the authorities below in ignoring the evidence put forth by the appellant, thereby, explaining her agricultural income, is legally sustainable in the eyes of law (ii) whether in fact and circumstances of the case, the action of the authorities below in arriving at the conclusion without following the various judgments as passed by the apex ..... submits that non-deduction of expenses from the income could be a ground for making a deduction of expenses and recomputation of income but could not be a ground for rejecting the claim of the assessee regarding agricultural income. ..... by the assessee to support her claim for agricultural income did not inspire confidence. 5. ..... court as well as the hon'ble high court, is legally sustainable in the eyes of law (iii) whether in fact and circumstances of the case, the action of the authorities below in acting on its own presumption without any basis is legally sustainable in the eyes of law (iv) whether in fact and circumstances of the case, the action of the authorities below the impugned orders annexure a-1 and a-3 are legally ..... income from rent and agriculture. ..... produced by the assessee of the buyers of the agricultural produce did not bear any local or central sales tax number. ..... has shown sale of agricultural produce. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2008]302ITR182(P& H)
..... petition by filing written statement stating therein that there is no estoppel against the statute as the transfer of agricultural land in question is void as is borne out from the record and moreover issuance of the income-tax clearance certificate under section 230a of the act does not make the transfer as valid in terms of the provisions of section 281 of the income-tax act. ..... petitioners, has vehemently argued that the income-tax officer is not vested with the powers to declare any such transaction of sale as void under any of the provision of the income-tax act much less in terms of section 281 of the income-tax act, 1961. ..... the legal heir/representative as these sales and lease are void, illegal, fraudulent and the same have been made to defraud the tax recovery officer and as such there is no binding effect on the rights of the respondents for the purpose of recovery of demand of income-tax assessed under the income-tax act, 1961, by way attachment and the sale of the property till the satisfaction of all the dues, therefore, all the transfers ..... section 281(1) provides that if during the pendency of any proceeding under this act or after the completion thereof, but before the service of notice under rule 2 of the second schedule, any assessee creates a charge on or parts with the possession of, any of his assets in favour of any other person, such charge or transfer shall be void as against any claim in respect of any tax or any other sum payable by the assessee as a result of .....
Tag this Judgment!