Court : Supreme Court of India
..... referring to income tax return of the appellant (ext.15)7 assessed the income at 1,62,420/- per annum for the assessment year 2011-12 and that was made the basis for awarding compensation ..... as per the records, for the assessment year 2010-11 (the financial year will be 2009-10), the income shown by the appellant was to the ..... the appellant has produced on record his income tax returns for the assessment years 2010-11 and 2011-12 as exhibits 14 and 15, respectively. ..... for the assessment year 2011-12 (the financial year will be 2010-11), the income was ..... the assessment of compensation was made by taking the income at 1,62,420/- per annum, which pertained to assessment year 2011 ..... agony and suffering 50,000/- future medical expenses 1,00,000/- total 30,99,873/- along with interest @ 6% per annum 10 in the present slp, the learned counsel for the appellant submitted that while assessing the compensation, the tribunal as well as the high court have failed to appreciate that the income claimed by appellant was 22,000/- per month i.e. ..... 10.2 learned counsel for appellant also submitted that compensation on account of mental agony, pain and suffering and loss of amenities as assessed by the tribunal is also on lower side as the appellant will undergo pain and suffering due to injuries and will go through mental agony throughout his life on account ..... is pertinent to note that the aforesaid assessment of disability of the appellant was conducted 02 years after the accident, meaning thereby, the .....
Tag this Judgment!Court : Supreme Court of India
..... omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier: provided that where the return relates to the previous year relevant to the assessment year commencing on the 1st day of april, 1988, or any earlier assessment year, the reference to one year aforesaid shall be construed as a civil appeal no.6274 of 2013 page 5 of 7 reference to two ..... claim was set up by the appellant for the first time before it, and was clearly inconsistent and contrary to the stand taken in the return filed by the appellant for the concerned assessment year including the notings made by the officials of the appellant. ..... the appellant-assessee filed a return of income on 19th november 1989 under the income tax act, 1961 (for short, it act ) for the assessment year 1989-90. ..... out that the tribunal did not direct consideration of the revised return but the tribunal was rightly of the view that the assessing officer can consider claim made by the appellant regarding deduction of deferred revenue expenditure in accordance with law. ..... which arose before this court was not regarding the power of the assessing officer to consider the claim after the revised return was barred by ..... in the case of goetzge (india) ltd2, this court held that the assessing officer cannot entertain any claim made by the assessee otherwise than by following the provisions .....
Tag this Judgment!Court : Supreme Court of India
..... time limit for notice - (1) no notice under section 148 shall be issued for the relevant assessment year, (a) if three years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b); (b) if three years, but not more than ten years, have elapsed from the end of the relevant assessment year unless the assessing officer has in his possession books of account or other documents or evidence which reveal that the income chargeable to tax, represented ..... time, as may be extended by him on the basis of an application in this behalf, as to why a notice under section 148 should not be issued on the basis of information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year and results of enquiry conducted, if any, as per clause (a); (c) consider the reply of assessee furnished, if any, in response to the show-cause notice referred to in clause (b); (d) decide, on the basis of material available on ..... , under clause (d) of section 148a, requiring him to furnish within such period, as may be specified in such notice, a return of his income or the income of any other person in respect of which he is assessable under this act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed; and the provisions of this act shall, so far as may be, apply accordingly .....
Tag this Judgment!Court : Supreme Court of India
..... provided that where the condition of disability requires reassessment of its extent after a period stipulated in the aforesaid certificate, no deduction under this section shall be allowed for any assessment year relating to any previous year beginning after the expiry of the previous year during which the aforesaid certificate of disability had expired, unless a new certificate is obtained from the medical authority in the form and manner, as may be prescribed, and ..... a person with disability, (i) in the event of the death of the individual or the member of the hindu undivided family in whose name subscription to the scheme has been made; or (ii) on attaining the age of sixty years or more by such individual or the member of the hindu undivided family, and the payment or deposit to such scheme has been discontinued; ; (ii) after sub-section (3), the following sub-section shall be inserted, namely: (3a) the ..... the assessee shall, in accordance with and subject to the provisions of this section, be allowed a deduction of a sum of seventy-five thousand rupees from his gross total income in respect of the previous year: provided that where such dependant is a person with severe disability, the provisions of this sub-section shall have effect as if for the words seventy-five thousand rupees , the words one hundred and ..... the subscribers to have the benefit of the amendment in respect of policies which were made much prior to 2014 as in the said year such policies have been discontinued. .....
Tag this Judgment!Court : Karnataka
..... for setting aside of the order passed by the settlement commission dated 11.03.2020 at annexure-'d' whereby application of the petitioner for settlement under section 245c of the income tax act, 1961 for the assessment years 2012-2013 to 2019-2020 was accepted and it was ordered that the additional income offered of rs.2,20,00,000/- was reasonable and fair, immunity - 3 - nc:2024. ..... income offered before the settlement commission was stated to be rs.2,20,00,000/-, which it is asserted to be an amount constituting cash gifts received from the relatives and well wishers during the assessment years 2012-2013 to 2016-2017.-. ..... had filed an application under section 235c of the act on 18.11.2019 seeking settlement for the assessment years 2012-2013 to 2019-2020. ..... further, as regards the declaration with respect to cash gifts, alleged non-disclosure of the same in the wealth tax returns of the previous years, the settlement commission has dealt with the said contention by observing as follows: no incriminating material was found during search, declaration being made in the settlement commission is supported by affidavit under rule 8 in support of an assertion ..... reported in (1999) 237 itr570(sc) has observed that discretion is conferred on the assessing officer to treat the unexplained income appropriately in the facts of the case. ..... wp no.11153 of 2020 commission makes under section 245 d(4) is not in the nature of an assessment, but by way of a settlement and contains the terms of settlement. .....
Tag this Judgment!Court : Supreme Court of India
..... and other connected writ petitions, is hereby set aside; and (iii) orders dated 17.01.2001 passed by the deputy commissioner of income tax (tds) 1, bengaluru under section 206c(6) of the income tax act for the assessment years 2000-2001, 1999-2000, 1998-1999, 1997-1998, 1996-1997 and 1995-1996 as well as the consequential demand notices of even date issued under section 156 of the income tax act, are hereby ..... filed by the above parties against the orders dated 17.01.2001 passed by the deputy commissioner of income tax (tds) 1, bengaluru (referred to hereinafter as the assessing officer or the revenue ) under section 206c(6) of the income tax act, 1961 (referred to hereinafter as the income tax act ) for the assessment years 2000-2001, 1999-2000, 1998-1999, 1997-1998, 1996-1997 and 1995-1996 as well as the consequential demand notices of even date issued ..... from a perusal of the said orders, more particularly the order 42 in respect of the assessment year 2000-2001 which is the main order passed by the assessing officer followed in other assessment proceedings, it is seen that the same was passed under section 206c(6) of the income tax act ..... by the said order dated 17.01.2001 for the assessment year 2000-01, the assessing officer declared that mysore sales had failed to collect and deposit an amount of rs ..... orders dated 17.01.2001 passed by the assessing officer under section 206c(6) of the income tax act for the assessment years under consideration are also liable to be set aside and .....
Tag this Judgment!Court : Karnataka Dharwad
..... a date to be notified by the central government in the official gazette, a declaration in respect of any undisclosed asset located outside india and acquired from income chargeable to tax under the income tax act for any assessment year prior to the assessment year beginning on 1st day of april, 2016 (a) for which he has failed to furnish a return under section 139 of the income tax act; (b) which he has failed to disclose in a return of income furnished by him under the income ..... (1) there shall be charged on every assessee for every assessment year commencing on or after the 1st day of april, 2016, subject to the provisions of this act, a tax in respect of his total undisclosed foreign income and asset of the previous year at the rate of thirty per cent of such undisclosed income and asset: provided that an undisclosed asset located outside india shall be charged to tax on its value in the previous year in which such asset comes to the notice of the ..... a conjoint reading of the various provisions would reveal that the assessing officer can charge the taxes only from the assessment year commencing on or after 1-4-2016. ..... on 25-06-2018 assessment proceedings under the act are commenced by issuance of a notice under section 10(1) of the act for the financial year 2018-19 and assessment year 2019-20.5. .....
Tag this Judgment!Court : Karnataka Dharwad
..... a date to be notified by the central government in the official gazette, a declaration in respect of any undisclosed asset located outside india and acquired from income chargeable to tax under the income tax act for any assessment year prior to the assessment year beginning on 1st day of april, 2016 (a) for which he has failed to furnish a return under section 139 of the income tax act; (b) which he has failed to disclose in a return of income furnished by him under the income ..... (1) there shall be charged on every assessee for every assessment year commencing on or after the 1st day of april, 2016, subject to the provisions of this act, a tax in respect of his total undisclosed foreign income and asset of the previous year at the rate of thirty per cent of such undisclosed income and asset: provided that an undisclosed asset located outside india shall be charged to tax on its value in the previous year in which such asset comes to the notice of the ..... a conjoint reading of the various provisions would reveal that the assessing officer can charge the taxes only from the assessment year commencing on or after 1-4-2016. ..... on 25-06-2018 assessment proceedings under the act are commenced by issuance of a notice under section 10(1) of the act for the financial year 2018-19 and assessment year 2019-20.5. .....
Tag this Judgment!Court : Karnataka Dharwad
..... a date to be notified by the central government in the official gazette, a declaration in respect of any undisclosed asset located outside india and acquired from income chargeable to tax under the income tax act for any assessment year prior to the assessment year beginning on 1st day of april, 2016 (a) for which he has failed to furnish a return under section 139 of the income tax act; (b) which he has failed to disclose in a return of income furnished by him under the income ..... (1) there shall be charged on every assessee for every assessment year commencing on or after the 1st day of april, 2016, subject to the provisions of this act, a tax in respect of his total undisclosed foreign income and asset of the previous year at the rate of thirty per cent of such undisclosed income and asset: provided that an undisclosed asset located outside india shall be charged to tax on its value in the previous year in which such asset comes to the notice of the ..... a conjoint reading of the various provisions would reveal that the assessing officer can charge the taxes only from the assessment year commencing on or after 1-4-2016. ..... on 25-06-2018 assessment proceedings under the act are commenced by issuance of a notice under section 10(1) of the act for the financial year 2018-19 and assessment year 2019-20.5. .....
Tag this Judgment!Court : Karnataka Dharwad
..... a date to be notified by the central government in the official gazette, a declaration in respect of any undisclosed asset located outside india and acquired from income chargeable to tax under the income tax act for any assessment year prior to the assessment year beginning on 1st day of april, 2016 (a) for which he has failed to furnish a return under section 139 of the income tax act; (b) which he has failed to disclose in a return of income furnished by him under the income ..... (1) there shall be charged on every assessee for every assessment year commencing on or after the 1st day of april, 2016, subject to the provisions of this act, a tax in respect of his total undisclosed foreign income and asset of the previous year at the rate of thirty per cent of such undisclosed income and asset: provided that an undisclosed asset located outside india shall be charged to tax on its value in the previous year in which such asset comes to the notice of the ..... a conjoint reading of the various provisions would reveal that the assessing officer can charge the taxes only from the assessment year commencing on or after 1-4-2016. ..... on 25-06-2018 assessment proceedings under the act are commenced by issuance of a notice under section 10(1) of the act for the financial year 2018-19 and assessment year 2019-20.5. .....
Tag this Judgment!