Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 4 amendment of section 5 Court: punjab and haryana Page 9 of about 28,216 results (0.148 seconds)

Commissioner of Income-tax Vs. Avon Cycles (P.) Ltd.

Court : Punjab and Haryana

Reported in : (1980)18CTR(P& H)231; [1980]126ITR448(P& H)

..... the legitimate business needs of the company, did not consider that the commission paid was excessive or unreasonable. the assessee further submitted that the amended provisions of section 40(c) of the act did not in any way restrict the expenditure, which was incurred for the legitimate business needs of the company and was in no way ..... was erroneous and prejudicial to the interests of the revenue inasmuch as a deduction of rs. 10,11,110 was allowed in contravention of the amended provisions of section 40(c) of the act. according to the commissioner, a part of the said commission should have been disallowed. he, therefore, issued a notice dated 18th january, 1975 ..... to have been furnished by the assessee. the assessee seems to have orally explained its position and the ito was apparently satisfied that the amended provisions of section 40(c) of the act were not applicable because it is admitted that no notice came to be issued under section 148.10. after the completion of the assessment, .....

Present: Mr. Anupam Bhardwaj Advocate Vs. State of Punjab Through the ...

Court : Punjab and Haryana

..... prescribed for punishment in all the three offences. the maximum punishment is prescribed for commission of an offence under section 27 (c) of the act. before amendment, the maximum punishment under section 27 (c) of the act was five years prasher ajay 2013.10.09 10:23 i attest to the accuracy and integrity of this document high court chandigarh crl. misc ..... of [less than seven years but not less than three years and of fine of less than one lakh rupees].."this punishment was substituted by act no.26 of 2008 and prior to the amendment, it was not less than one year. prasher ajay 2013.10.09 10:23 i attest to the accuracy and integrity of this document high ..... the judgment, impose a sentence of imprisonment for a term of less than one year."this punishment has also been substituted by act 26 of 2008. a careful reading of the above sections makes it clear that after the amendment in 2008, the punishment for the offences has been increased. prior to 2008, the punishment was not less than three .....

Hind Samachar Ltd. Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Reported in : (2008)217CTR(P& H)637

..... the said issue, it would be essential to refer to the legislative history of the said provision. the taxation laws (amendment) act, 1975 substituted the existing clause (c) w.e.f. 1st april, 1976. prior to its amendment, the provision provided that in the case of a company, the return could be signed by the principal officer of the ..... if such return of income, assessment, notice, summons or other proceeding is in substance and effect in conformity with or according to the intent and purpose of this act.28. section 139(9) specifies the circumstances in which a return would be regarded as a defective return. the list of defects mentioned in the explanation thereof is ..... to unavoidable reasons wherein managing director or any other director is unable to sign or verify the return, a person unanimously authorized by the board of directors to act on behalf of the company may do the needful.5. in the above context, reference to certain judicial enunciations and the bare provisions of the code of .....

Date of Decision : 5.8.2013 Vs. Union of India and Others

Court : Punjab and Haryana

..... section 245d(1) and the settlement commission cannot reopen its concluded proceedings under section 154 of the act so as to levy interest under section 234b. it was noticed that amendment made by the finance act, 2007 with effect from 1.6.2007 was for this purpose. relevant portion of the judgment reads as under:- interest on default in ..... been made to the provisions of section 245d(2a) and section 245d(2d) and section 245ha of the income tax act, 1961 (hereinafter referred to as the act .) as substituted by an amendment by the finance act, 2007 with effect from 1.6.2007 being ultra vires.2. the premises of the petitioner were searched under section 132 of the ..... act on 17.1.1995. thereafter, he filed an application on 29.1.1997 before the settlement commission-respondent no.2 under .....

Present: Ms. Urvashi Dugga Advocate Vs. Punjab Agro Industries Corpora ...

Court : Punjab and Haryana

..... under the provisions of this act. (1a) where any matter has been considered and decided in any proceeding by way of appeal or revision relating to an order referred to ..... of law at this stage with the consent of the parties. section 154 of the act empowers the income tax authority to rectify any mistake apparent on the record and permits amendment of any order passed by it under the provisions of the act. section 154 of the act during the relevant assessment year reads as under: 154. (1) with a view ..... to rectifying any mistake apparent from the record, an income-tax authority referred to in section 116 may amend any order passed by it .....

Devi Dass Gopal Krishan Vs. the State of Punjab

Court : Punjab and Haryana

Reported in : [1973]31STC536(P& H)

..... (ii). the assessee felt dissatisfied with the said order and filed a revision petition before the excise and taxation commissioner, punjab. subsequently, on account of amendment in the act, the sales tax tribunal (hereinafter referred to as 'the tribunal') were created, which were also empowered to decide pending revisions and appeals under section 21b of ..... february, 1971, by which power of transfer of cases has specifically been given to the commissioner. his contention is that now the government has made the amendment in the rules and has given powers of transfer of cases which shows that earlier the transfer could not be made as there was no rule to ..... to the assessee, the respondent's action is operating to the serious prejudice of the petitioner's rights and the respondent should be restrained from so acting. in our opinion there should be a proper precise lawful order, transferring the petitioner's assessment proceedings from the record of the appropriate assessing authority actually .....

Delhi Land and Finance (P) Ltd. Vs. Income-tax Officer, Companies Circ ...

Court : Punjab and Haryana

Reported in : AIR1967P& H399

..... 1948, for the said assessment year. on the 31st july. 1953, a press note was issued by the government of india calling attention of the public to the income-tax (amendment) act. 1953, which had introduced sub-section (2 a) providing that the assessees, wanting to carry forward their losses, were required to submit returns, declaring such losses, within the ..... i) a voluntary return of loss submitted by an assessee is a good and valid return under sub-section (3) of section 22. even before the amendment of section 22 of the said act by insertion of sub-section (2a), if it was made at any time before assessment, and the income tax officer was bound to take the necessary ..... and as a result of such non-disclosure no assessment is made within the period of limitation resulting in total escapement of income.so far as section 34(3) as amended with effect from 1-4-1956 is concerned, there is absolutely no difficulty because order of assessment under section 23 to which clause (c) of sub-section (1) .....

Cit-iii Vs. Nahar Spg. Mills Ltd.

Court : Punjab and Haryana

Reported in : [2008]296ITR471(P& H)

..... by the tribunal in assessee's own case for assessment year 1994-95 in it appeal no. 1050/chandi/1996 and it has been held that after c amendment in section 80hhc, the interest income to be reduced from the profits and gains of the business is to the extent of 90 per cent of the receipts. ..... from businessor profession, there is no reason for reducing the same out of the incomefrom business or profession for the purpose of calculation of deductionunder section 80hhc of the act, as after including the same in the income pfrom business or profession, the reduction, as envisaged under thatprovision, would be carried out. this is clear even ..... and profession. aggrieved against treating the income from interest under the head 'income from other sources' for the purpose of computation of deduction under section 80hhc of the act, the assessee preferred an appeal praying for the addition of this income under the head 'income of business and profession' and for recomputation of deduction. the claim to .....

High Court of Punjab and Haryana at Vs. Commissioner of Income Tax, Ch ...

Court : Punjab and Haryana

..... out of their undisclosed income. the ao applied the same reasoning while re-opening and passing a fresh assessment order dated 28.11.2007 for the assessment year 2000-01. penalty proceedings under section 271(c) of the act were also initiated. (5).the assessees went in appeal(s) which were dismissed by the commissioner of income tax (appeals) ( ..... of the assessee to disclose fully or truly all material facts necessary for his assessment of that year.2 (12).there is, however, a sea-change after the amendment in section 147 for determining jurisdictional scope for re-assessment of the escaped income. the hon ble supreme court in rajesh jhaveri s case (supra) has explained and ..... to make the ao believe that there has been under- assessment of the assessee s income for a particular year.3 (14).it is explicit from the post-amendment decisions cited above that once there are reasons for the ao to believe, whether such reasons originate out of the record already scrutinized or otherwise, he shall be .....

Present:- Mr. Sanjay Bansal Sr. Advocate with Vs. Commissioner of Inco ...

Court : Punjab and Haryana

..... that the assessee was like depb amount, in respect of special import licence amount, not entitled to deduction under section 80 hhc of the act even when in respect of special import licence amount, no amendment had been brought on the statute book by the legislatures with effect from 29.12.2005 as in the case of depb?. . the argument ..... and against the revenue and the matter be remitted back to the assessing officer for re-computation of the deduction admissible to the assessee under section 80hhc of the act. learned counsel for the respondent could not dispute the argument raised, as the issue is said to be covered by the judgment of hon'ble the supreme court ..... gupta, j. (oral) this order shall dispose of the above mentioned income tax appeals filed under section 260-a of the income tax act, 1961 (for short ita nos.367 to 369 of 2011 -2- the act ) arising out of the assessment years 1999-2000, 2000-2001 and 2001-2002. during the cours.of arguments, learned counsel for the appellant .....