Judgment Search Results Home > Cases Phrase: finance act 1970 chapter i preliminary Court: income tax appellate tribunal itat allahabad Page 1 of about 9 results (0.725 seconds)

Vishwanath Prasad Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2003)86ITD516(All.)

..... the merits of the appeal, we feel it appropriate to decide the above preliminary issue first.12. chapter xiv-b inserted by finance act, 1995 w.e.f. 1st july, 1995 provides special procedure for assessments in search cases. section 158bc of the income-tax act provides special procedure for block assessment. where any search has been conducted under section 132 of the income ..... search.22. circular no. 717 dated 14th august, 1995 is issued by the cbdt on the subject of finance act, 1995 - explanatory notes on provisions relating to direct taxes. clause 39.3 of this circular provides salient features of the scheme provided under chapter xiv-b. the relevant clause is reproduced from this circular: where the previous year has not ended or the .....

Dr. A.K. Bansal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2000)73ITD49(All.)

..... dissenting with the learned judicial member, i consider it necessary to refer to the objectives of introducing chapter xiv-b, which can be gainfully used as an aid to interpretation.3.1 chapter xiv-b of the act was brought on the statute book by the finance act, 1995 with effect from the 1st july, 1995. it provides for a special procedure for ..... found as a result of illegal search was permissible. with a view to gather the intention of the statute, he thereafter referred to memorandum explaining the provisions of chapter xiv-b in the finance bill, 1995 found in itr 212 page 345. he also submitted that once the intention of the statute was clear, it had to be accepted. 16. ..... or directions given by their superiors." reference could also be made to another decision of the apex court in the case of sirpur paper mills ltd. v. cwt [1970] 77 itr 6 from where the following passage is reproduced for guidance."the power of revision conferred on the commissioner by section 25 of the wealth-tax .....

Cawnpore Sugar Works Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1982)2ITD654(All.)

..... the cancellation of the penalty imposed by the ito under section 221, read with section 201. our attention was also invited to the scheme of the act, particularly chapter xvii where sub-section (1) of section 190 lays down that notwithstanding that the regular assessment in respect of any income is to be made in ..... or before us to show that the co-operative cane development unions or co-operative cane development councils were wholly financed by the government and, therefore, even the notification no. 3489 dated 29-10-1970 cannot be said to cover the payments by way of income from interest to these bodies. the other persons mentioned ..... no. so 3489 dated 22-10-1970 whereby there was exemption from deduction of tax at source on payments made to any undertaking or body including a society registered under the societies registration act, 1860, financed wholly by the government. in these circumstances, according to dr. vaish, considering the purpose of chapter xvii under which section 194a appears .....

Verma Roadways Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2000)75ITD183(All.)

..... clear that this provision is intended to assess the undisclosed income in distinction to a regular assessment. the explanation inserted by the finance act no. 2 of 1998 with effect from july 1, 1995 states that the assessment made under this chapter shall be in addition to the regular assessment.126. in the case of shaw wallace & co. ltd. (supra) the position has ..... the authorities holding administrative enquiries involving civil consequences or affecting rights of parties because, as pointed out by this court in a. k. kraipak v. union of india (1970) 1 scr 457 (air 1970 sc 150)" the aim of the rules of natural justice is to secure justice or to put it negatively, to prevent miscarriage of justice and justice, in a ..... giving an opportunity to a person to be heard must necessarily depend on facts and circumstances of each case." (iii) in the case of premier motors (p.) ltd. v. cst, 1970 u.p.t.c.203, the hon'ble allahabad high court has held as under : "it is true that the evidence .....

U.P. Forest Corporation Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1984)9ITD206(All.)

..... 289 of the constitution of india.besides referring to the provisions of the 1974 act, reference was also made by him to the provisions of the damodar valley corporation act, 1948, the road transport corporation act, 1950. the state finance corporations act, 1951 and the food corporation act, 1964, and on their basis he submitted that the corporation was not an ..... the following decisions: andhra pradesh state road transport corporation v. ito [ 1964] 52 itr 524 (sc), ramtanu co-operative housing society ltd. v. state of maharashtra air 1970 sc 1771, patel pretnji jiva v. state of gujarat [1971] 3 scc 815, ramana dayaram shetty v. international airport authority of india airstate of u.p. v. ..... as a local authority, it is precluded from having a share capital.3. in pursuance of a notice under section 139(2) of the income-tax act, 1961 ('the act'), the corporation filed its return for the assessment year 1976-77 on 24-3-1977 under protest. therein, the corporation declared a total net profit of .....

V.V.S. Alloys Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... the hierarchy in the (p) di wing has got the powers to call for witnesses and examine them under various provisions as are contained in part c of chapter xiii of the act, particularly those contained in s. 131(1a). it was further argued that even if the authorised officer or the asstt. director of income-tax does not have ..... to/unanswered. it was also submitted by the learned counsel for the appellant that the capital cost of the project, which included the investment in factory building also, was financed by the u.p. financial corporation ltd. the 'cost' as incurred by the assessee was within the purview of the financial institution also, which did not find any ..... was on the account of these reasons that the impugned assessments, were vitiated and were not sustainable in law requiring vacation." (ii) sirpur paper mills ltd. vs. cwt (1970) 77 itr 6 (sc). in this case the hon'ble supreme court while considering the scope and instruction and directions of cbdt as contemplated by s. 13 of the wt .....

K.M. Sugar Mills (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1982)1ITD1003(All.)

..... debatable issue of law was involved in the reference application and, therefore, in this sense the assessee had established prima facie case. he also submitted that in view of the financing position of the assessee (for which he relied upon the certificate from the state bank of india, the assessee was not in a position to pay in cash rs. 3 ..... the duty in proper cases to make such orders for staying recovery proceedings pending the appeal before the tribunal. next he pointed out that in cwt v. tungabhadra industries ltd. [1970] 75 itr 196, (sc) the supreme court referring to the obervations of chhagla, c.j. of the bombay high court in itat v. s.c. cambatta & co. ltd. [1956] ..... business of manufacture and sale of sugar. a penalty of rs. 8,99,673 was levied on the assessee-company under section 271(1)(c) of the income-tax act, 1961 ("the act"), by the ito vide his order dated 22-8-1979 for the assessment year 1973-74. the penalty was confirmed by the commissioner (appeals) vide order dated 10- .....

Wealth-tax Officer Vs. Buniyad Hussain

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1983)6ITD407(All.)

..... that the assessee had failed to produce any documentary evidence with regard to the creation of the wakf prior to the assessment year 1970-71 ; (ii) that a registered deed of wakf was necessary under the transfer of property act, 1882 ; (iii) that the shia central board of wakfs, u.p., had recognised the wakf only with effect from 20 ..... wakf was obtained under the u.p. muslim wakfs act, 1960 ; and (vii) that the assessee did not establish that the income from the disputed land was spent exclusively for ..... -6-1970 when the registered deed of wakf was executed ; (iv) that no information as required under section 3 of the mussalman wakf act, 1923, was furnished by the assessee ; (v) that no registration of the wakf was obtained under chapter 4 of the wakf act, 1954; (vi) that no registration of the .....

Kothari Products Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1991)37ITD285(All.)

..... in the compilation) all tobacco products are totally exempt from u.p. sales-tax act.5. the learned counsel for the assessee has further pointed out that even at the time of presenting the finance bill, 1991 according to the hon'ble finance minister, prof. madhu dandavate, in the chapter containing proposals regarding union excise duties, the classification of pan masala has been at ..... which has been filed in the compilation, pan masala as well as pan masala containing zarda has been grouped and classified in a separate chapter no. 24. in the same way, under the u.p. sales-tax act, the company has been charged to sales-tax of zarda yukt pan masala whereas vide sales-tax notification no. st/4069/10-960(4 .....