Court : Income Tax Appellate Tribunal ITAT West Bengal
Decided on : Feb-16-1996
..... liable to be quashed. the learned counsel has also submitted before us that s. 44ab was introduced by the finance act, 1984, and while presenting the union budget for 1984-85, the then finance minister observed as under (1984) 146 itr (st) 65 at page 66] : "with the reduction in rates and expeditious disposal of assessments, i ..... incumbent ao has initiated the penalty proceedings. to our mind, taking the limitation period prescribed in s. 275 for initiation of penalty proceedings under the other sections of this chapter and also by respectfully following the judgment of the jurisdictional high court in the case reported in 1990 crlj 1110, maximum of two years from ..... of s. 275, which comes into operation from 1st april, 1989, initiation of penalty proceedings cannot be deferred unendingly and by taking the spirit of the section as a whole, the initiation of the penalty proceedings should take place within a reasonable period of time. the learned counsel for the assessee placed before us .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
Decided on : Mar-29-1996
..... as "vishwamangal trust" (hereinafter referred to as "the trust". deduction under section 80g of the income tax act, 1961 ("the act"), was claimed in respect there of and allowed by the ito while completing the assessment under section 143(3), read with section 144b, of the act.subsequently, the commissioner, after allowing the assessee an opportunity of being heard, ..... trust nor had he noted the material difference in the language of section 4(1) (a) of the 1922 act and section 88 of the 1961 act, particularly, after its amendment with effect from 1-4-1964 and the provisions of section 80g subsequently revising the provisions of section 88; 2. clause 3 of the deed of trust gave ..... of the 1961 act up to and including the assessment year 1979-80 though it was stated that no certificate under section 80g had yet been granted to the trust within his knowledge.11. the departmental representative then referred to the memo explaining the provisions in the finance (no. 2) bill, 1965, as a result of .....
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