Court : Punjab and Haryana
Decided on : Feb-20-1996
Reported in : (1996)133CTR(P& H)224; [1996]219ITR461(P& H)
..... made inapplicable in relation to transfer of any immovable property after september 30, 1986, and a new chapter xx-c was introduced in the act by the finance act, 1986, with effect from october 1, 1986. section 266rr provides that chapter xx-a will not apply in relation to the transfer of any immovable property after september 30, 1986. the central board of direct ..... below :' circular no. 455, dated may 16, 1986. subject : acquisition of immovable properties under chapter xx-a of income-tax act, 1961-guidelines-regarding. the finance bill, 1986, has proposed that no proceedings shall be initiated under section 269c of the income-tax act, 1961, in respect of a property transferred after the 30th day of september, 1986. the bill also proposes to insert .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : May-06-1996
Reported in : (1996)136CTR(P& H)101; [1996]221ITR892(P& H)
..... 1986, with effect from october 1, 1986. section 269rr provides that chapter xx-a will not apply in relation to transfer of any immovable property after september 30, 1986.7. ..... under section 269d, the proceedings will be dropped if the apparent consideration of the immovable property is below rs. 5 lakhs.' 6. chapter xx-a of the act was made inapplicable in relation to transfer ' of any immovable property after september 30, 1986, and a new chapter xx-c was introduced in the act by the finance act, ..... dated may 16, 1986. subject: acquisition of immovable properties under chapter xx-a of the income-tax act, 1961-guidelines-regarding. the finance bill, 1986, has proposed that no proceedings shall be initiated under section 269c of the income-tax act, 1961, in respect of a property transferred after the 30th day of september, 1986. the bill also .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Nov-06-1996
Reported in : (1997)140CTR(P& H)583; [1997]225ITR675(P& H)
..... all the facts relating to the same and material to the computation of his total income have been disclosed by him.' 10. clause (c) of section 271(1) had been earlier amended by the finance act, 1964, with effect from april 1, 1964, whereby the word 'deliberately'was omitted. earlier when the word 'deliberately' existed there, the second ..... distinctly and these are with respect to two separate offences. the two charges can subsist in many cases. the effect of the explanation, as introduced by the finance act, 1964, and the deletion of the word 'deliberately', was that the onus had been shifted from the department to the assessee. the explanation amounts to a ..... april 1, 1964, mere furnishing of inaccurate particulars attracted the levy of penalty. explanation 1 had also been inserted earlier by the finance act, 1964, but was substituted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976. the provision as it existed in the relevant assessment year 1976-77 can be divided .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Sep-23-1996
Reported in : [1997]223ITR282(P& H); (1997)115PLR129
..... professionals rendering services to the individuals or the parties are covered for the purposes of deduction of income-tax at source within the meaning of section 194c of the act.3. section 194c was inserted in the act by the finance act of 1972, with effect from april 1, 1972. it required a person responsible for paying any sum to any resident (referred to as 'the ..... the deduction of tax at source on the payment of fees for professional services also inasmuch as this was not covered under section 194g of the act.12. a new section 194j has now been enacted. this new provision inserted by the finance act, 1995, with effect from july 1, 1995, requires a person responsible for paying any sum by way of fees for professional .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Nov-18-1996
Reported in : [1997]224ITR98(P& H)
..... on the department to prove that there was any deliberate concealment on the part of the assessee cannot be sustained in view of the explanation to section 271(1)(c) of the act added by the finance act of 1964, which creates a rebuttable presumption of law that where the total income returned by the assessee is less than 80 per cent. ..... the supreme court in cit v. mussadilal ram bharose : [1987]165itr14(sc) and chuharmal v. cit : [1988]172itr250(sc) argued that the explanation to section 271(1)(c) of the act added by the finance act of 1964, creates a rebuttable presumption of law to the effect that where the total income returned by the assessee is less than 80 per cent ..... no longer applicable in view of the object and intent of the legislature in omitting the word 'deliberately' from clause (c) of section 271(1) of the act and adding the explanation thereto by the finance act of 1964 was to bring about a change in the existing law regarding the levy of penalty so as to shift the burden of .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : May-16-1996
Reported in : AIR1997P& H61
..... .g. diploma in advertising.7. p. g diploma in food processing andtechnology.8. m. sc. (artificial intelligence).9. m. sc. (information science and technology).10. master of finance and control.11. master of marketing technology.12. m.sc. in laser technology.13. m.sc. (applied physics).14. p.g. diploma in actuarial science and insurance.15. department ..... shall cease to be associated in any way with or be admitted to, any privileges of any other university. the act also makes provision for the transitory period. the provisions of sections 3 and 4 of the act are reproduced:'3. (1) there shall continue to be a body corporate by the name of guru jambheswar university comprising ..... the subject matter of the act is covered under list i of schedule vii. specific reference was made to entries 64, 65 and 66 of schedule vii, list i of constitution of india, which may be reproduced:'64. institution for scientific or technical education financed by the government of india wholly or in part and declared .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : May-24-1996
Reported in : [1996]222ITR608(P& H)
..... , 1993, he cannot be held liable to pay arrears of income-tax found due against maini finance (p.) ltd. another plea of the petitioner is that proceedings initiated against him are contrary to section 226(2) of the act read with section 60 of the code of civil procedure. yet another plea of the petitioner is that against the ..... 'p-7' is void on account of non-compliance with the principles of natural justice inasmuch as no notice was served upon the petitioner under section 179(1) of the act. shri sawhney countered this submission by pointing out that notice was personally served upon the petitioner and he had filed a reply on april 4, 1995 ..... found due against maini finance (p.) ltd. and as the authorities of the income-tax department could not effect recovery of the outstanding dues from the company, proceedings were initiated under section 179(1) of the income-tax act, 1961 (for short, 'the act'). notice issued by the competent authority under section 179 of the act was served upon the .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : May-24-1996
Reported in : (1996)136CTR(P& H)82
..... of the company. therefore, he cannot escape his liability to pay the arrears after the competent authority found that it was impossible to recover the amount from m/s maini finance (p) ltd.5. the third contention of shri mittal is that during the pendency of the revision petition filed by the company by its ex-managing director, the petitioner ..... pleaded that being director of the company during the year 1991, the petitioner is jointly and severally liable to pay arrears of income-tax found due against m/s maini finance (p) ltd. these respondents have pleaded that order of attachment annexure r1 has been passed on 18th jan., 1996 and this order clearly shows that it is subject to ..... march, 1993, he cannot be held liable to pay arrears of income-tax found due against m/s maini finance (p) ltd. another plea of the petitioner is that proceedings initiated against him are contrary to s. 226(2) of the act r/w s. 60 of the cpc. yet another plea of the petitioner is that against the order of .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Sep-23-1996
Reported in : (1996)136CTR(P& H)217
..... to the individuals or the parties are covered for the purposes of deduction of income-tax at source within the meaning of s. 194c of the act.3. sec. 194c was inserted in the act by the finance act, 1972 w.e.f. 1st april, 1972. it required a person responsible for paying any sum to any resident (referred to as the contractor) ..... tax at source on the payment of fees for professional services also inasmuch as this was not covered under s. 194c of the act.7. a new s. 194j has now been enacted. this new provision inserted by the finance act, 1995, w.e.f. 1st july, 1995 requires a person responsible for paying any sum by way of fees for professional ..... therefore, evident that s. 194c did not cover payments made to the professionals for their professional and technical services and that was the reason why a new section was sought to be enacted by finance bill, 1987. but somehow the attempt of the government failed. the very attempt to enact a new provision for the deduction of tax at source made .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Dec-11-1996
Reported in : (1997)116PLR252
..... the supreme court in s.s. gadgil's case (supra) relied upon by shri aggarwal relates to the interpretation of section 34(1)(b) and proviso (iii) thereto and section 18 of finance act, 1956. their lordships held the period prescribed by section 34 for assessment is not a period of limitation but it imposes a fetter upon the power of the income tax ..... co. ltd. v. state of assam, : [1961]1scr809 automobile transport (rajasthan) ltd. v. state of rajasthan, 0065/1962 : [1963]1scr491 andhra sugars ltd. v. state of andhra pradesh, : [1968]1scr705 state of madras v. n.k. nataraja mudaliar, a.i.r. 1969 s.c. 147 and state of kerala v. a.b. abdul kadir, : [1970]1scr700 .one has to ..... consequently, it is beyond the competence of the legislature. that certainly cannot be and the supreme court has held in the decision in state of madras v. narayanaswami naidu (1968) 21 s.t.c. 1 that the goods are taxable in such cases in the financial year when they become the last purchases.'the decision of poti, j. was .....
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