Court : Allahabad
Reported in : [1992]194ITR442(All)
..... (2) and section 275 of the act deal with procedural matters. as such ..... 24, 1968. accordingly, the supreme court held it was the substituted clause (iii) brought in by the finance act, 1968, with effect from april 1, 1968, which governs the case. this decision of the supreme court was, however, one dealing with the effect of the amendment in the charging section which affects substantive rights. clause (iii) of sub-section (1) of section 271 is a charging section while section 274 .....
Tag this Judgment!Court : Allahabad
Reported in : [1980]123ITR626(All)
..... of rs. 23,74,000 taken by the assessee from the industrial finance corporation of india was not liable to be deducted while computing its capital for working out the relief due to it under section 80j of the income-tax act ' at the instance of the assessee for a.y. 1968-69. ' 4. whether, on the facts and in the circumstances of the ..... ' relevant amount of capital employed ' occurring in section 80j(1) did not find mention in section 84 of the act on which the depart-ment places reliance. there is another consideration which weighs with us in adopting this interpretation. the assessee became entitled to the deduction under section 80j(3) only as from the 1st april, 1968. section 84 stood repealed then. the result of the .....
Tag this Judgment!Court : Allahabad
Reported in : (2006)202CTR(All)343
..... or dividend by the cooperative society from its investment with any other cooperative society, it is subject to the provisions of section 80ab of the act, which was inserted by finance (no.2) act, 1980 with effect from 1stapril, 1981. section 80b(5) of the act is of no relevance as it defines gross total income. it does not specify as to whether deduction of the ..... .'12. it may be mentioned here that the legislature by the finance (no.2) act, 1980 had introduced sections 80aa and 80ab into the act by the reason of the interpretation placed by the apex court upon section 80m in cloth traders (p.) ltd.'s case. section 80aa was introduced with retrospective effect from 1stapril, 1968 and section 80ab was introduced with effect from is1 april, 1981. in .....
Tag this Judgment!Court : Allahabad
Reported in : [2005]142TAXMAN611(All)
..... dividend by the cooperative society from its investment with any other cooperative society, it is subject to the provisions of section 80ab of the act, which was inserted by finance (no. 2) act, 1980 with effect from 1-4-1981. section 80b(5) of the act is of no relevance as it defines gross total income. it does not specify as to whether deduction of the ..... . it may be mentioned here that the legislature by the finance (no. 2) act, 1980 had introduced sections 80aa and 80ab into the act by the reason of the interpretation placed by the apex court upon section 80m in cloth traders (p.) ltd's case. section 80aa was introduced with retrospective effect from 1-4-1968 and section 80ab was introduced with effect from 1-4-1981. in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1988)24ITD488(All.)
..... powers or performs the functions of an income-tax officer, in pursuance of an order made by the commissioner of income-tax under sub-section (1) of section 125a of the act, reference in the act or in any rule made thereunder to the income-tax officer, shall be construed as reference to the inspecting assistant commissioner. this provision leaves ..... . we have carefully considered the arguments that have been advanced by both the parties. section 125a found its way into the statute book by means of finance (no. 2) act, 1977 effective from 10th july, 1977.the provisions contained in clause (1) and clause (4) of this section are reproduced below : 125a. (1) the commissioner may, by general or special ..... was granted without proper enquiry. since no enquiry was made, the setting aside was proper for which reliance was placed on rampyari devi saraogi v. cit [1968] 67 itr 84 (sc), smt. tara devi aggarwal v. cit [1973] 88 itr 323 (sc), [1975] 99 itr 386 (sic), thalibai f. jain v. ito [1975] 101 itr .....
Tag this Judgment!Court : Allahabad
Reported in : (1979)9CTR(All)160; [1980]122ITR913(All)
..... gains of business attributable to any one or more of such activities.' 4. this section was inserted in place of section 81, which was deleted by the finance (no. 2) act of 1967, with effect from the 1st april 1968. the deleted section 81(i)(a) was the same as the present section 80p(2)(a)(i). in the case of addl. cit v. u. p. ..... co-operative cane union : [1978]114itr70(all) , which was inter partes, this court held that income from printing press business was not exempt from tax under section ..... 81(i)(a) of the act. following .....
Tag this Judgment!Court : Allahabad
Reported in : (1992)108CTR(All)46; [1993]201ITR307(All)
..... base for calculating the quantum of penalty. whether the amount of penalty is to be determined with reference to the law obtaining after the amendment of section 18 of the act by the finance act, 1969, or on different rates applicable during the period of each month, in accordance with the rates existing during the said period.13. in cwt ..... commissioner of wealth-tax, lucknow. the reference arises out of the proceedings relating to levy of penalty under section 18(1)(a) of the wealth-tax act ( for short 'the act ') in respect of the assessment years 1967-68 and 1968-69. the following common question of law has been referred by the income-tax appellate tribunal, delhi bench, ..... the two assessment years, the assessee's wealth was assessable to wealth-tax. the returns for the assessment years 1967-68 and 1968-69 under the act were due by june 30, 1967, and august 31, 1968, respectively. however, the returns for both the years were filed on june 12, 1972. the return for the assessment year 1967 .....
Tag this Judgment!Court : Allahabad
Reported in : (1997)140CTR(All)394; [1997]223ITR705(All); [1997]93TAXMAN36(All)
..... 1969, for the assessment years 1961-62 and 1962-63, disclosing the same income which was shown in the original returns. the finance act, 1968, amended section 271(1)(c) with effect from april 1, 1968. it, inter alia, changed the measure of the penalty. the penalty after amendment was dependent upon the amount of income concealed ..... previous years relating to the aforesaid four assessment years. he, therefore, initiated proceedings under section 147(a) read with section 148 of the act, 1961, for the assessment years 1966-67, 1968-69 and 1969-70. pursuant to the notices issued under section 148, the assessee filed returns for the said three years showing income 'nil'. ..... tribunal was justified in law in confirming the enhancement of penalties made by the appellate assistant commissioner under section 271(1)(c) of the income-tax act, 1961?'2. the reference relates to the assessment years 1966-67, 1968-69, 1969-70 and 1973-74. for these years, the assessee returned incomes in the original returns .....
Tag this Judgment!Court : Allahabad
Reported in : [1979]116ITR356(All)
..... , on the facts and in the circumstances of the case, the tribunal was legally correct in holding that for the purposes of calculating penalty under section 271(1)(c), the provisions of section 271(1)(c) as amended by the finance act, 1968, with effect from april 1, 1968, were not applicable and that the penalty has to be calculated according to the provisions of the ..... act which was applicable as per the provisions in force prior to april 1, 1968 2. whether, on the facts and in the circumstances of the case, the .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]280ITR484(All)
..... see was liable to penalty under the provisions of section 18(1)(c) of the wealth-tax act, 1957, read with explanation 4 to section 18(1)(c) of the wealth-tax act, 1957, despite the press note dated may 27, 1968, issued by the ministry of finance and circular no. 8-wt dated november 15, 1968, issued by the central board of direct taxes ..... 2. the reference relates to the assessment years 1979-80 and 1980-81 in the proceedings arising out of penalty imposed under section 18(1)(c) of the act.3. briefly stated, the ..... penalty proceedings. 8. it is well settled by a catena of decisions of the apex court that the circular issued by the central board of direct taxes under section 13 of the act, as it stood during the relevant period, is binding upon the authorities. thus, in view of the aforesaid circular which still holds the field, the penalty .....
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