Court : Supreme Court of India
Reported in : AIR1971SC730; 1972(0)BLJR528; [1971]79ITR603(SC); (1971)1SCC453; [1971]3SCR442
..... muzaffarpur.whereas (i) have reason to believe that your income chargeable the income of 1960-1961 in respect of which you are assessable to tax for the assessment year 1919 has escaped assessment within the meaning of section 147 of the income tax act, 1961.i therefore propose to re-assess the income for the said assessment year and i hereby require you to deliver to me within 30 days from the date of service of this notice a return ..... reason of the omission or failure on the part of these 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 not with standing that there has been no omission or failure as mentioned above on the part of the ..... section 139(2) says :in the case of any person who, in the income-tax officer's opinion, assessable under this act, whether on his own total income or on the total income of any other person during the previous year, the income-tax officer may, before the end of the relevant assessment year, serve a notice upon him requiring him to furnish, within thirty days from the date of service of the ..... 151(2) of the act reads:no notice shall be issued under section 148 after the expiry of four years from the end of the relevant assessment year, unless the commissioner is satisfied on the reasons recorded by the income-tax officer that it is a .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1969SC1262; [1969]74ITR72(SC); (1969)2SCC84; [1970]1SCR1
..... tribunal then observed that the ships brought into the indian trade were not new in the years of account relevant to the five years of assessment, but the assessee was still qualified under section 10(2) (vi-a) to additional depreciation for a continuous period of five years, and 'the fact in the first of these years the new ships did not call at the indian ports in one assessment year did not disentitle the assessee to the benefit not only for that ..... brought into use in 1953.brought into use in the indian trade in 1954.claim for the assessment years 1955-56 and1956-57.the assessee and the commissioner were agreed that the taxable income of the assessee had to be determined by the application of the second method in rule 33 of the indian income-tax rules, ..... double or multiple shift working of the machinery or plant and the initial depreciation allowance admissible under that clause for the first year of erection of the building or the installation of the machinery or plant) in not more than five successive assessments for the financial years next following the previous year in which such buildings are erected and such machinery and plant installed and falling within the period commencing on the 1st day ..... however, did not allow initial depreciation and additional depreciation in respect of the ships of the assessee in any of the assessment years, because the ships acquired by the assessee were not introduced into the indian business in the years in which they were newly acquired. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1981SC1562; (1981)21CTR(SC)356; [1981]129ITR314(SC); 1981(1)SCALE694; (1981)3SCC77; [1981]3SCR402
..... of march, 1965, under the indian income-tax act, 1922 (xi of 1922), or the income-tax act, 1961 (xliii of 1961), or(b) which has escaped assessment for any assessment year for which an assessment has been made before the 1st day of march 1965, under either of the said acts, or(c) for the assessment of which no proceeding under either of the said acts has been taken before the 1st day of march, 1965,he shall, notwithstanding anything contained ..... act, 1922 and income-tax act, 1961 : (i) the charge under the income-tax act is on the total income of the previous year and not on any particular item of income but that is not so under section 68, (ii) payment of tax under section 68 has no reference to any assessment year and unless it is correlated to an assessment year it can not be ordinary income-tax and (iii) the disclosed income is chargeable to tax without allowing usual deductions and without providing for ..... since it is contended by the assessee that the tax so paid was the tax which he was liable to pay under the relevant income-tax law in force during the assessment years in question and it is urged by the department that the said payment was in discharge of a liability created for the first time by the finance act, it is necessary to examine the provisions of section 68 of the finance act in some detail, in so .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2006SC1223; 2006(4)BomCR886; 2006(1)CTC741; (2006)200CTR(SC)505; 2006(196)ELT257(SC); [2006]280ITR643(SC); JT2006(2)SC7; (2006)2MLJ25(SC); 2006(1)SCALE569; (2006)2SCC508
..... bench held as follows:- the provisions of this sections hall not apply in respect of any assessment for the assessment year commencing on the 1st day of april, 1989, or any subsequent assessment years.section 244 deals with interest on refund where no claim is needed. ..... 2 holding that interest under section 244(1a) of the act was admissible only on post assessment taxes.27.02.1987 appellant filed four revision petitions under section 264 of the act before the 1st respondent for grant of interest under sections 214 and 244 of the act for the following periods: assessment years period1977-78 01.04.1977 to 30.04.19861978-79 01.04.1978 to 30.04.19861981-82 01.04.1981 to 30.04.19861982-83 01.04.1982 to 30.04.198628 ..... section 214 of the act but refused to grant interest under sections 214(1a) and 244(1a) of the act.assessment year 1982-83:the appellant submitted its estimate of advance tax and paid instalments thereon of rs. ..... case of the appellant as set out above in the instant case for the assessment year 1978-79, it has been deprived of an amount of rs.40 lakhs for no fault of its own and exclusively because of the admittedly unlawful actions of the income tax department for periods ranging up to 17 years without any compensation whatsoever from the department. ..... substantial and important questions of law of great general public importance as well as under the income tax act, 1961 pertaining to assessment years 1977-78, 1978-79, 1981-82 and 1982-83 requiring consideration of this court. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2007)207CTR(SC)733; [2007]289ITR83(SC); JT2007(3)SC125; 2007(2)SCALE612; (2007)9SCC665
..... the impugned judgment by contending that provisions of section 271(1)(c)(iii) prior to 1.4.1976 and after its amendment by the finance act, 1975 with effect from 1.4.1976, later provisions being applicable to the assessment year in question, being substantially the same, the high court in the impugned order erred in distinguishing prithipal singh's case (supra), and taking a view contrary to the view taken in the said case. ..... the provisions of section 271(1)(c)(iii) prior to 1.4.1976, and after its amendment by the finance act, 1975 with effect from 1.4.1976, later provisions being applicable to the assessment year in question, being substantially the same except that in place of the word 'income' in sub clause (iii) to sub clause (c) of section 271 prior to its amendment by finance act, 1975, the expression 'amount of tax sought to ..... was that prithipal singh's case (supra) decided by the punjab and haryana high court pertaining to the assessment year 1970-71 was prior to the amendment of finance act, 1975 and therefore, was not applicable. ..... had allowed the assessee's appeal remitting the penalty imposed by the assessing officer under section 271(1)(c) relating to the assessment year 1996-97, relying upon the decision of the punjab high court in ..... decision of the punjab and haryana high court in prithipal singh's case (supra), which was affirmed by this court on the ground that it related to the assessment year 1971-72 when explanation 4 to section 271(1)(c) had not been introduced. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : JT2007(2)SC638; 2007(2)SCALE362; (2007)2SCC705; 2007AIRSCW1072
..... in this connection we may refer to the electricity consumption and production in the appellant's factory for the three assessment years in question, which are as follows:assessment year production electricity consumed2001-01 402 mt 5,13,5962001-02 268 mt 6,38,1642002-03 314 mt 6,68,736a perusal of the above figures shows that while the electricity consumption has clearly been going up, the production has gone down from 402 mt to ..... the tribunal has rejected the books of account of the assessee appellant on the ground that during the assessment year 2000-01 as against the electricity consumption of 513596 units, production was shown at 402 mt, while in the assessment year 2001-02 as against the electricity consumption of 638164 units, production was shown at 268 mt, and for the assessment year 2002-03 as against the electricity consumption of 668736 units, production was shown at 314 mt. ..... that in spite of the several opportunities being given for verification of production from the production register, the labour attendance register and the payment made to the labour the same was not done by the assesse, and the closure of the manufacturing also could not be got verified from the labour attendance register and labour payment register. ..... the assessing authority rejected the appellant's books of account and enhanced the turn over. ..... have not been shown less and the position was same as it was in the earlier years. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1972SC2319; [1972]83ITR92(SC); (1971)3SCC621; [1972]1SCR470
..... reason of the omission or failure on the part of the assessee to make a return of his expenditure under section 13 for any assessment year, or to disclose fully and truly all material necessary for his assessment for that year, the expenditure chargeable to tax has escaped assessment for that year, whether by reason of under-assessment or assessment at too low a rate or otherwise; or(b) has in consequence of any information in his possession reason to believe notwithstanding that there has ..... (a), that the expenditure chargeable to tax has escaped assessment for any assessment year, whether by reason of under-assessment or assessment at too low a rate or otherwise; he may, in cases falling under clause (a) at any time within eight years and in cases falling under clause (b) at any time within four years of the end of that assessment year, serve on the assessee a notice under sub-section (2) of section 13 and may proceed to assess or reassess such expenditure and the provisions of this act shall ..... thus the notices which were issued on that date relating to the assessment years 1959-60, 1960-61 and 1961-62 were within the period of four years which was the limit prescribed with regard to action under clause (b) ..... provided that no expenditure tax shall be payable by anassessee for any assessment year if the income from all sources derived by the assessee and his dependents during the previous year as reduced by the amount of taxes which such income may be liable under any law for the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1992)108CTR(SC)444; [1993]199ITR610(SC); JT1992(6)SC714; 1992(3)SCALE255; 1994Supp(1)SCC257; [1992]Supp3SCR168
..... to as 'the amending act') so as to read as follows: -notwithstanding anything contained in clause (iii) of sub-section (1) of section 271, if in a case falling under clause (c) of that sub-section, the amount of income (as deter-mined by the income-lax officer on assessment) in respect of which the particulars have been concealed or inaccurate particulars have been furnished exceeds a sum of twenty-five thousand rupees the income-tax officer shall refer the case to the inspecting assistant commissioner ..... the incomes returned and assessed were as follows:-------------------------------------------------------------------------------- assessment year income returned income assessed -------------------------------------------------------------------------------- 1968-69 6,940.00 30,840.00 -------------------------------------------------------------------------------- 1969-70 7,020.00 14,472.00 -------------------------------------------------------------------------------- 3. ..... thereafter on february 15, 1973, the inspecting assistant commissioner passed orders imposing penalties of rs.24,000.00 and rs.12,500.00 respectively for the assessment years 1968-69 and 1969-70.8. ..... (hereinafter referred to as 'the assessee') is an individual and the proceedings related to the imposition of penalty under section 271(1)(c) read with section 274(2) of the income-tax act, 1951 (hereinafter referred to as 'the act') for the assessment years 1968-69 and 1969-70. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2007)210CTR(SC)20; [2007]291ITR278(SC); 2007(7)SCALE599; (2007)6SCC21
..... as far as his indian income is concerned, he stated that he filed the returns for the assessment years 1996-97 & 1997-98 before the income tax officer, ward 1(4), cbe only on 23rd october, 1997. ..... reading of section 68 suggests that there has to be credit of amounts in the books maintained by an assessees; such credit has to be of a sum during the previous year; and the assessees offer no explanation about the nature and source of such credit found in the books; or the explanation offered by the assessees in the opinion of the assessing officer is not satisfactory, it is only then the sum so credited may be charged to income-tax as the income of the assessees of that previous ..... the foreign gifts are received by the assesses during the assessment years 1993-94 to 1996-97. ..... (c) whether in the facts and circumstances of the case, the conclusion of the tribunal that the claim of gift is not genuine is reasonable and based on relevant material and not perverse?these appeals relate to the assessment years 1995-96 and 1996-97. ..... the detail of the gifts received by each one of the assessees is as under:-------------------------------------------------------------------assessment years-------------------------------------------------------------------shri/smt. 93-94 94-95 95-96 96-97 a. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1963SC900; [1963]33CompCas289(SC); [1963]48ITR144(SC); [1963]Supp(1)SCR980
..... the finance acts for the years 1955 and 1956, like all other such acts, provided the rates at which income-tax was payable for the assessment years commencing from 1st april of the year in which the acts were ..... 's income for the assessment year 1955-56 was assessed on september 29, 1956, and later revised on may 21, 1957, and for the year 1956-57, on january ..... the assessment orders in respect of the aforesaid assessment years earlier mentioned, showed that in the first assessment year credit had been given to the appellant in ..... previous years of the appellant for the assessment years 1955-56 and 1956-57 were respectively the calendar years 1954 ..... earlier paid for which credit had been given in its assessment for the second assessment year were rs. ..... in respect of the assessment year 1956-57, the position was that the life department had made ..... section 49b provides that where any dividend has been paid or deemed to have been paid to an assessee who is a shareholder of a company which is assessed to income-tax such assessee shall if the dividend is included in his total income be deemed to have paid himself in respect of such dividend income-tax of an amount by which the dividend has been ..... tax credited as earlier paid in respect of this year's assessment, therefore, became refundable. ..... under the orders of assessment to income-tax for the years 1955-56 and 1956-57, the appellant became entitled to certain refunds under the provisions of the ..... the assessment order for the year 1955-56 showed .....
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