Judgment Search Results Home > Cases Phrase: finance act 1968 section 2 income tax Court: income tax appellate tribunal itat jaipur Page 15 of about 337 results (0.150 seconds)

Beerbal Khan Chandan Khan and Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1995)52ITD476(JP.)

..... should have been at 4% leading to enhancement of the gross profit by rs. 12,501. the a.o., therefore, referred the matter under section 144a of the i.t. act, 1961 ('the act') for instructions from his iac.4. before the iac the assessee explained that extra bottles, whenever required by the assessee, were supplied to it ..... lead to 'concealment' of income. if the inaccurate particulars do not result in concealment of income the furnishing thereof cannot be successfully punished under section 27l(1)(c) of the act. the effect of furnishing inaccurate particulars of income shall, therefore, have a relevant significance in those cases of penalties wherein penalty is sought to ..... it was in the above background that in the course of the assessment proceedings the a.o. initiated penalty proceedings for assessee's default under section 271 (1)(c) of the act. on being asked, the assessee explained, that primarily the addition made on account of discrepancy in the empty bottle account was a trading .....

Assistant Commissioner of Vs. Modi Engineers

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1995)54ITD478(JP.)

..... the time of furnishing the estimate of such tax, but as soon as the assessee came to know of the likely consequences, he deposited the tax under section 140a of the act. this conduct of the assessee has not been controverted by the revenue. the assessing officer has placed no material on record to show that the assessee had ..... the estimate had been so filed, yet the assessee had not paid the advance tax. he, therefore,held the assessee a defaulter for the purposes of section 273(2)(b) of the act.2. in the course of the penalty proceedings, the assessing officer further noted that the estimate of advance tax payable by the assessee was untrue. he, ..... case, the assessing officer (ao) initiated penalty proceedings for assessee's default of failure to file the estimate of advance tax payable punishable under section 273(2)(b) of the income-tax act, 1961 ('the act'). in the course of the proceedings, the assessee proved that he had filed such estimate on 13-12-1985. but the assessing officer noted .....

Smt. Mohini Devi Vs. Assistant Controller of Estate

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1985)13ITD102(JP.)

..... the difference between the maturity value and the surrender value of the life insurance policy should be treated as a separate estate under sub-section (3) of section 34 of the estate duty act, 1953 ('the act'), as the deceased never had any interest in this and it should be taxed separately. the deceased in this case is one smt. ..... of her estate was determined at rs. 1,67,362 by the assistant controller as per his assessment order, dated 7-2-1980, completed under sub-section (3) of section 58 of the act.2. aggrieved against the said order, the accountable person came in appeal before the appellate controller. originally, he claimed only an exemption of rs. 5 ..... of the life insurance policy as part of the estate of the deceased.firstly, he stated that the definition of the word 'property' given in section 2(15) of the act also included interest in any property.according to him, the life insurance policy under which he paid premia itself represents property and the maturity amount realisable .....

income-tax Officer Vs. Bohra Film Finance

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1983)4ITD247(JP.)

..... of extension of time limit provided for completion of the assessment proceedings as per section 153(c) of the income-tax act, 1961 a few facts will have to be mentioned before dealing with the question.the assessee is a partnership firm carrying on business of financing and distribution of films. the accounting year of the assessee ended on 31 ..... from the end of the assessment year in which the income was first assessable, where such assessment year is the assessment year commencing on the 1st day of april, 1968 ; (iii) two years from the end of the assessment year in which the income was first assessable, where such assessment year is an assessment year commencing on or ..... years from the end of such assessment year ; (ii) where the return relates to a previous year relevant to the assessment year commencing on the 1st day of april, 1968, three years from the end of the assessment year ; (iii) where the return relates to a previous year relevant to any other assessment year, two years from the .....

Commissioner of Income-tax Vs. Kataria Transport Co.

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1988)24ITD44(JP.)

..... by framing an appropriate question.as there has been a difference of opinion between us, the following point of difference is referred to a third member under section 255(4) of the it act : 1. in this reference application filed by the commissioner of income-tax, jaipur, he stated that the following questions, said to be questions of law ..... , and in law, the tribunal was justified in not upholding the disallowance of interest payment of rs. 94,465 claimed by the asses-see under the head 'finance commission' which did not pertain to the accounting period relevant to the assessment year under reference 2. whether on the facts and in the circumstances of the case ..... the case and in law, the tribunal was justified in not upholding the disallowance of interest payment of rs. 94,465 claimed by the assesses under the head 'finance commission' which did not pertain to the accounting period relevant to the assessment year under reference 2. whether on the facts and in the circumstances of the case .....

Mahaveer Kumar JaIn Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1993)45ITD634(JP.)

..... ), finds it difficult to agree with his further views that "mere fact that section 5 would be applicable does not automatically mean that all the provisions of it act and the finance act would be applicable". in the opinion of this bench once the provisions of section 5 are found applicable to the case of a person computation of his total ..... the hands of the partners, the distinction a charging and a machinery section is of no consequence. both the sections have to be read together and construed harmoniously. it is significant that similar provisions have ..... such taxation. it is true that section 3 is the general charging section. even if section 23(5) provides for the machinery for collection and recovery of the tax, once the legislature has, in clear terms, indicated that the income of the firm can be taxed in accordance with the finance act of 1956 as also the income in .....

income-tax Officer Vs. Mangilal Nandkishore

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1992)40ITD538(JP.)

..... the ito, ujjain. (viii) copy of letter enclosing advance-tax estimate for 1969-70 filed by the assessee before ito, ujjain on 19-7-1968. (ix) copy of notice under section 143(2) dated 11-9-1968 for assessment years 1966-67 and 1967-68 issued by ito, b-ward, ujjain in the case of mangilal nand kishore, ujjain. (x) application ..... assistant commissioner to permit the assessee to furnish evidence to show that it had filed returns at ujjain and that the ito, ujjain, acting upon the same had issued notices under section 143(2) and, therefore, no proceedings under section 148 could have been taken by the ito, b-ward, beawar. in pursuance of miscellaneous applications, being ma nos. 89 and ..... ever done by it in rajasthan and that business was done in ujjain in own house. proceedings were initiated by the ito, b-ward, beawar under section 147/ 148 of the income-tax act in respect of the assessment years in question vide notices dated 13-8-1970 and 1-9-1970 on the ground that no returns were filed by .....

income Tax Officer Vs. Jaipur Zila Dugdha Utpadak

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1993)46TTJ(JP.)84

..... assessee. on consideration of the rival contentions we are satisfied that the decision of the cit(a) is in order. sec. 44b was incorporated by the finance act of 1984 w.e.f. 1st april, 1985 by virtue of this section every person carrying on business and having turnover or gross receipts exceeding rs. 40 lakhs in any previous year and in ..... insertion of the words "or furnish the said report along with the return of his income filed under sub-s. (1) of s. 139. .." these were inserted by the finance act, 1988 w.e.f. 1st april, 1989. before the aforesaid amendments the penalty under s. 271b was provided where the assessee had failed to furnish the report along with the ..... as well as the authority of the registrar of the co-operative societies to audit or to cause the audit done at least once in each year. sec. 68 of the rajasthan co-operative societies act, 1965 is reproduced hereunder : "(1) the registrar shall audit or cause to be audited by a person authorised by him by general or special .....

Subhash Gupta (individual) Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2003)78TTJ(JP.)692

..... of penalty would not arise.the above position was also recognised by the legislature and clause (iii) to section 271(1)(c) was amended by finance act, 2002, w.e.f. 1st april, 2003. the corresponding provision of the finance bill i.e., section 101 provided as under: "in clause (c)(iii), for the words "in addition to any tax ..... respect of above referred to amendment : "the existing provisions contained in clause (iii) of the aforesaid sub-section (1) provides for a penalty, in addition to any tax payable, of a sum which shall not ..... payable", the words "in addition tp tax, if any, payable" shall be substituted w.e.f. the first day of april, 2003." the notes accompanying the finance act, 2002, provided as under in .....

Mewar Motors Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

..... tax liability of rs. 10,29,293 which was paid before the due date in view of the provisions of s. 43b, as it stood before the amendment by the finance act, 1987, cannot be upheld. in our view, the order of the ao allowing this claim of unpaid sales-tax liability of the assessee was not erroneous and prejudicial to ..... which was outstanding as on 31st march, 1987, but paid on 31st july, 1987, in total disregard of the provisions of s. 43b as it stood before the amendment by finance act, 1987, which provided disallowance of such liability.3. a show cause notice was issued on 4th aug., 1994, and was served on the assessee on 9th aug., 1994, fixing ..... (raj) (supra), (1987) 163 itr 194 and (1987) 167 itr 395 (raj) to the effect that the interest liability, as provided under s. 11b of the rajasthan sales-tax act, 1954, is an allowable expenditure, is well established principle. however, we find that the above decisions were rendered before introduction of s. 43b.in the case reported in (1986) 160 .....