Judgment Search Results Home > Cases Phrase: finance act 1970 chapter iii income tax Court: income tax appellate tribunal itat jabalpur Page 1 of about 4 results (3.090 seconds)

Sri Satyapal Wassan L/H Sri Naresh Vs. the A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Jabalpur

..... relating to escapement of income. therefore, the plea of the assessee in this regard is found to be not tenable, which is rejected.72. after the amendment by finance act, 2006, the view was explicitly made clear that time limit for issuance of notice under section 143(2) will not apply in re-assessment proceedings. therefore, this ..... as no such presumption is provided in assessment proceedings, we infer that where the legislature intended to provide such presumption it has been so provided in various chapters. in chapter relating to search and seizure that presumption about books of account and documents is provided but it is limited to the summary proceedings about retention or release ..... to the assessment completed consequent upon the notice issued under section 148 of the act. 12. since all the provisions of the act "so far as may be, apply" as envisaged under section 148(1) which is the phrase used in relation to assessment under chapter xiv-b in section 158bc(c) and "so far as may be, .....

Agrawal Motors Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Reported in : (1999)68ITD407Jab

..... construction as well as the profit on sale of flats of bp complex are outside the purview of chapter xiv-b.chapter xiv-b provides special procedure for assessment of search cases. it was inserted by finance act, 1995. the hon'ble finance minister during his speech delivered in parliament on 15-3-1995 state as follow :- hon'ble members ..... . an appeal against the order can be filed directly before the income-tax appellate tribunal. [emphasis supplied] similar view was expressed in the notes on clauses of the finance bill.section 158b(b) defines the word "undisclosed income" as under :- undisclosed income' includes any money, bullion, jewellery or other valuable article or thing or any ..... sides. in the present appeal, we are considering the assessment of block period as per chapter xiv-b of the i.t. act. we have already discussed while deciding ground nos. 8 & 9 of the assessee's appeal. in our opinion, under chapter xiv-b, the assessment of undisclosed income found as a result of search is to .....

New Ajanta Road Lines Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Reported in : (2002)254ITR85Jab

..... by virtue of the order passed by the assessing officer under section 185(1)(a). new provisions in regard to the taxation of the firms were introduced by the finance act, 1992, with effect from april 1, 1993, as a result of which the firms were made entitled to claim salary and interest to the working partners and ..... consequently the old provisions dealing with the registration of firm, etc., as contained in chapter xvi were amended. the amended provisions of section 184 are relevant for our purpose because the assessment year involved in the present appeal is 1993-94. section 184( ..... 1) stipulated that a firm shall be assessed as a firm for the purposes of this act if the partnership is evidenced by an instrument and the individual shares of the partners are specified in that instrument. sub-section (2) of section 184 further requires .....

Mahesh Prasad Soni Vs. Addl. Cit

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Reported in : (2004)86TTJJab815

..... or deposits otherwise than by an account payee cheque or account payee bank draft in violation of section 269ss of the act.the provisions of sections 269ss and 269t were brought on the statute by the finance act, 1984, with effect from, 1-4-1984. the intention behind bringing the above provisions on the statute was clarified ..... provisions of section 269ss were brought in the statute book to counter the evasion of tax in certain cases, as clearly stated in the heading of chapter xx-b of the income tax act, 1961, which reads requirement as to mode of acceptance, payment or repayment in certain cases to counteract evasion of tax legislative. intention in bringing ..... section 269ss. it is not the case of the revenue that the amounts involved were unaccounted transaction. it is an undisputed fact that the transactions are genuine. the chapter xx-b. and section 269ss begins with the heading-requirement as to mode of acceptance, payment or repayment in certain cases to counteract evasion of tax. the .....