Court : Madhya Pradesh
Reported in : [1979]119ITR688(MP)
..... was clearly wrong in holding that penalty was leviable at 20% of the tax sought to be avoided, on a misconception of fact that section 271(1)(c), substituted by the finance act, 1968, w.e.f. april 1, 1968, was not attracted. it proceeded on the assumption that the quantum of penalty was governed by clause (iii) as it originally stood. ..... any logical or rational principle.8. inasmuch as the returns for both the years were filed on april 9, 1968, i.e., after the substitution of new clause (iii) in section 271(1)(c), by the finance act, 1968, w.e.f. april 1, 1968, the iac held that penalty had to be computed by reference to the amount of income concealed. he, ..... was liable for penalty under section 271(1)(c), read with the expln. thereto, for each of the two years. it, however, reduced the quantum of penalty to 20 per cent. of the tax sought to be avoided on the hypothesis that the amendment by the finance act, 1968, which came into effect from april 1, 1968, was not retrospective in operation .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1982)1ITD1060(Chd.)
..... facts, the claim of the assessee is to be considered for relief under section 80u(ii).5. section 80u(a) came on the statute book by an insertion by the finance act, 1968, with effect from 1-4-1969. this section was substituted by the taxation laws (amendment) act, 1970, with effect from 1-4-1971. it deals with deductions in ..... the case of totally blind or physically handicapped resident persons. this section is a part of chapter vi-a of the act, dealing with the ..... a total income of rs. 20,470. this return was revised subsequently and, in this revised return, the assessee, inter alia, claimed relief under section 80u(ii) of the act. the assessee also filed a certificate from a medical practitioner as proof of permanent physical disability. the ito examined this claim but came to the conclusion .....
Tag this Judgment!Court : Allahabad
Reported in : (1982)27CTR(All)103; [1982]133ITR520(All); [1982]9TAXMAN202(All)
..... s. anand yarn & co., which amounted to rs. 2,130. 8. counsel for the department urged that for a correct interpretation of section 271(1)(c)(iii), the subsequent amendment made in clause (iii) by the finance act, 1968, may also be looked into. his contention is that under clause (iii), as it stood, once there was a variance in the returned ..... are made up, may be caught in the net of clause (iii). such an interpretation would run counter to the intention of the legislature as envisaged in section 155(1) of. the act, which specifically talks of rectification on completed assessment of partners, on the assessment or reassessment of the firm.10. we, accordingly, answer the question in the ..... for filing his return till such time that the accounts of the firm in which he is a partner are made up. section 155(1) of the i.t. act, 1961, and section 35 of the indian i.t. act, 1922, realising this, took ample care by making provision for rectification of a partner's assessment on the assessment of the .....
Tag this Judgment!Court : Allahabad
Reported in : [1977]109ITR474(All)
..... :'1. whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that the provisions of section 271(1) as they stood prior to the amendment by the finance act of 1968 should be applied in the present case ?2. whether, on the facts and in the circumstances of the case, the tribunal was ..... accepted as the correct, income.' 10. by the finance act of 1964 the word 'deliberately' was omitted in sub-section (1)(c) and the explanation was added to sub-section (1) with effect from april 1, 1964.11. by the finance act of 1968, with effect from april 1, 1968, the present clause (iii) of sub-section (1) was substituted for the old clause. the ..... . however, the ratio would be equally applicable to the amendments introduced by the finance act of 1968. it was laid down that any one who files an incorrect return after april 1, 1964, is liable to be dealt with according to the amended provisions of section 271(1)(c) regardless of the year to which the return relates. it was .....
Tag this Judgment!Court : Kolkata
Reported in : [1975]36STC98(Cal)
..... government. neither in any of the two explanations the firm has been included. the present definition clause (c) was substituted for the former by section 2(b) of the bengal finance (sales tax) (west bengal amendment) act, 1950, with effect from 6th november, 1950. before the amendment the definition was: 'dealer' means any person, firm or hindu joint ..... in the business of selling or supplying goods in east punjab. so, under the east punjab act a firm is a dealer within the meaning of section 2(d) of that act.7. 'dealer' has been defined in the bengal finance (sales tax) act in section 2(c). it means any person who carries on the business of selling goods in west ..... is included within the definition of 'dealer' under section 2(c) of the bengal finance (sales tax) act, 1941, and (b) whether a dissolved firm can be assessed to sales tax under the bengal finance (sales tax) act, 1941, in view of the decision of the supreme court in additional tahsildar v. gendalal [1968] 21 s.t.c. 263 (s.c.).2 .....
Tag this Judgment!Court : Karnataka
Reported in : ILR2009KAR2437; [2009]183TAXMAN209(Kar); 2008(4)KCCR2801; 2008AIHC236(Kar)
..... .86; and from rs. 60,000/- to rs. 70,000/- w.e.f 15.11.2002 as and when section 80 of the i.t. act was amended. the authorities should have amended paragraph 3 of the ppf scheme, 1968 as per the finance act, 2005, in. the facts and circumstances of the case, it would meet the ends of justice to direct the respondent ..... nos. 3 and 4 to take steps to amend clause 3 of the ppf scheme, 1968 in terms of section 80c of the i.t. act.7. in the result, (be respondents 3 ..... and 4 are directed to amend paragraph 3 of the p p f scheme, 1968, and increase the maximum limit of subscription in the p p f account as per the finance act, 2005, within three months from the date .....
Tag this Judgment!Court : Gujarat
Reported in : [1987]165ITR300(Guj)
..... 1968-69, the explanation which was inserted by the finance act, 1964, is relevant for our purpose and it read as follows : 'explanation - where the total income returned by any person is less than eighty per cent. of the total income (hereinafter in this explanation referred to as the correct income) as assessed under section 143 or section 144 or section ..... the particulars of his income or furnished inaccurate particular of such income. it may be pointed out that, prior to its amendment by the finance act, 1964, section 271(1)(c) required that the assessee should have concealed the particulars of his income or deliberately furnished inaccurate particulars of such income, but the ..... terms but by resort to the deeming fiction contained in the explanation. the explanation which was not originally there when section 271(1)(c) was enacted but which was introduced by the finance act, 1964, provides that where the total income returned is less than eighty per cent. of the total income assessed, .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1980]124ITR728(MP)
..... revised return showing his income from truck business. on these facts, the department sought to impose penalty under the provisions of section 271(1)(c) of the act as amended by the finance act, 1968. this court held that the act of concealment was committed by the assessee on 4-7-66 when he filed his original return and, therefore, the penalty ..... filed. in the instant case, the assessee filed its return for the assessment year 1965-66 on september 30, 1968. the amended section 271(1)(c) of the act came into force on april 1, 1968. in the circumstances, the act of concealment of the income for the assessment year 1965-66 was committed by the assessee on september 30 ..... finding of the iac that the assessee was guilty of concealment of income as provided under section 271(1)(c) of the act. however, the tribunal came to the conclusion that section 271(1)(c) of the act came into effect from april 1, 1968, and as the concealment related to the assessment year 1965-66, the penalty imposable could .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 1986(8)ECC106; 1989(20)LC204(MP); 1985(22)ELT732(MP); 1986MPLJ561
..... under article 226 of the constitution the petitioner is challenging levy of duty on pigment slurry and nitrocellulose lacquer under central excises and salt act, 1944, and also challenging section 51 of the finance act, 1982 and notification dated 20-2-1982 giving retrospective effect to rules 9 and 49 of the central excise rules, 1944, from ..... article must emerge having a distinctive name, character or use. relying on this decision, the supreme court in south behar sugar mills v. tata chemicals--air 1968 s.c. 922 further held that there must be such a transformation that a new and different article must emerge having a distinctive name, character or use. ..... the whole legislation appears to be arbitrary then the provisions can be struck down as being ultra vires. since in terms of the explanation under section 51 of the finance act, it is clear that criminal liability will not be attracted because of retrospective amendment and moreover civil liabilities such as recovery of duty not .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1983)LC439DTri(Delhi)
..... act, 1962 by the finance act, 1980 (no. 2 of 1980) providing for setting up of the appellate tribunal. the tribunal had also made the customs, excise & gold (control) appellate tribunal (procedure) rules, 1982, in exercise of the powers conferred by sub-section (6) of section 129-c of the act and similar provision contained in the central excises and salt act, 1944 and the gold (control) act, 1968 ..... 1. appellants filed a revision application before the government of india under section 131 of the customs act, 1962 (hereinafter called the act), as it existed before its amendment by the finance act, 1980 (no. 2 of 1980), which stands transferred under the provisions of section 131-b ibid to the appellate tribunal to be disposed of by the tribunal as if it were an appeal presented .....
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