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Mangilal S. JaIn Vs. Cit and anr.

Court : Karnataka

Reported in : (2002)175CTR(Kar)347

..... the effect of section 88(a)(iii) of finance act is that notwithstanding anything contained in the income tax act, the amount payable under the kvs scheme by a declarant (other than companies and firms), who files declaration between 1-9-1998, and 31-1-1999, shall be 30 per cent of disputed income, in case where the tax arrears includes income-tax as also interest or penalty. ..... , a declaration to the designated authority in accordance with the provisions of section 89 in respect of tax arrear, then, not withstanding anything contained in any direct tax enactment or indirect tax enactment or any other provision of any law for the time being in force, the amount payable under this scheme by the declarant shall be determined at the rates specified hereunder, namely :(a) where the tax arrear is payable under the income tax act, 1961 (43 of 1961),(i) in the case of a declarant, being a company or a firm, at the ..... but the issue will have to be examined not with reference to section 140a of the income tax act, but with reference to the provisions of kvs scheme, as contained in chapter iv of finance (no, 2) act, 1998. ..... the kar vivad samadhan scheme, 1998 (hereinafter referred to as the 'kvs scheme' , was brought into force on 1-9-1998, as per chapter iv of finance (no. .....

The Principal Commissioner, Vs. M/s Ennoble Construction,

Court : Karnataka Dharwad

..... . accordingly, the parliament vide finance (2) act, 1998 inserted inter alia sections 260a and 260b in chapter xx of the 1961 act to provide for an appeal against the orders of tribunal directly to the high court, within whose jurisdiction, office of the ao is situated ..... . according to clause (c) of sub- section (1) of section 271 of the act, if the ito or the aac in the course of any proceedings under the act is satisfied that any person has concealed the particulars of his income or furnished inaccurate particulars of such income, he may direct that such person shall pay in addition to the amount of tax by way of penalty a sum calculated in accordance with clause (iii) of that sub-section ..... . cit reported in (1972)86 itr557(sc), wherein the scope of that provision has been discussed extensively clause (c) of sub-section (1) of section 271 shows that occasion for taking proceedings for payment of penalty arises if the ito or the aac is satisfied that any person has concealed the particulars of his income or furnished inaccurate particulars of such income ..... . 1447 to 1450 of 1969, dated 19th september 1972 reported in (1972) 40 cch0314iscc, wherein it is held regarding penalty under section 271(1)(c), the initiation of proceedings before feeling satisfied for initiating penalty proceedings, ito need not issue notice to assessee and it is sufficient if, after being satisfied in the .....

Y.D. Nanje Gowda Vs. Union of India and anr.

Court : Karnataka

Reported in : ILR1985KAR955; [1985]152ITR618(KAR); [1985]152ITR618(Karn)

..... we notice that the taxation law (amendment) act, 1970, and the finance (no.2) act, 1971, have plunged the leakage of tax through the device of throwing self-acquired property into the common hotchpot by and the income-tax act, 1961, the wealth-tax act, 1957, and the gift-tax act, 1958. ..... wanchoo, retired chief justice of indian, to examine and suggest legal and administrative measures for countering evasion and avoidance of direct taxes in the country (vide chapter i - 'introduction') of direct taxes enquiry committee - final report (published by the government of indian n december, 1971). ..... the effect of the amendments made by the said finance acts and in particulars by the finance act of 1974 was to increase the rate of taxes on an huf, when such an huf had one member whose wealth exceed rs. ..... sri prasad has contended that the amendment made to the act by the finance acts subjecting an huf with one member whose net wealth exceeds rupees one lakhs to higher rate of tax was discriminatory, irrational, arbitrary and was violative of art. ..... the wanchoo committee examined tax avoidance prevalent in the country in great detail in chapter iii - 'tax avoidance' - and made various recommendations action thereto. .....

A.S. Ibrahim Vs. Union of India and Others

Court : Karnataka

Reported in : ILR1996KAR1706; [1997]225ITR149(KAR); [1997]225ITR149(Karn); 1997(42)KarLJ43

..... anyhow, counsel for the respondents has brought to my notice sub-section (6) of section 2 of the finance act, 1995, which reads as under : 'in cases in which tax has to be collected under section 206c of the income-tax act, the collection shall be made at the rate specified in that section and shall be increased in the case of a buyer, being a domestic company, by a surcharge calculated at the rate of ..... be that as it may, parliament in its wisdom has deleted section 44ac by the finance act, 1992, with effect from april 1, 1993, and has simultaneously through the same exercise substituted the old section 206c by a new one, sub-section (1) whereof reads as under : 'every person, being a ..... section 206c(1) as originally introduced was amended by the direct tax laws (amendment) act, 1989, with effect from june 1, 1988, which is the only sub-section relevant for the present purposes reads as under : '(1) every person, being a seller referred to in section 44ac, shall, at the time of ..... section 206c of the act as contained in chapter xvii thereof titled as 'collection and recovery of tax' provides for collection of income-tax by several modes including by deduction or ..... 44ac as well as section 206c as originally introduced were challenged before various high courts on the grounds of legislative competence as also on the ground of offending part - iii of the constitution. ..... (iii) timber obtained by any modeother than under a forest ..... (iii) timber obtained by any modeother than under a forest .....

m/s.karnataka Power Transmission Vs. The Deputy Commissioner Of

Court : Karnataka

..... any part of the tax in accordance with the provisions of this chapter on the sum paid to a resident or on the sum credited to the account of a resident shall not be deemed to be an assessee in default in respect of such tax if such resident (i) has furnished his return of income under section 139; 21 (ii) has taken into account such sum for computing in such return of income; and income (iii) has paid the tax due on the income declared by him in such return of income, and the person furnishes ..... be seen from these provisions, prior to passing of the finance act, 2008, the provisions of section 200 mandated that the amount of tax deducted should be paid to the credit of the central ..... the provisions of section 200 prior to the finance act, 2008 mandated that the amount of tax deducted should be paid to the credit of the central government within ..... contended that even prior to the amendment to section 201(1) of the act by finance act, 2008, the law that existed at the relevant point of time provided for deduction of tax at source and section 200 of the act during the relevant period clearly attracted even in cases where the tax was not deducted. ..... shall pay, within the prescribed time, the tax deducted to the credit of the central government or as the board directs. ..... act contemplates that any person deducting any sum in 19 accordance with the provisions of chapter xvii, shall pay within the prescribed time, the sum so deducted to the credit of the central government or as the board directs .....

P. Bhuvaneswaraiah and ors. Vs. State of Mysore and ors.

Court : Karnataka

Reported in : AIR1965Kant170; AIR1965Mys170; (1964)2MysLJ470

..... order, was empowered to prescribe the manner of distribution of the revenue between the union and the states; after the finance commission was constituted, the distribution of income-tax between the union and the states is determined by order made by the president after considering the recommendations of the finance commission (vide; article 270).the terms of reference to the commission, to which reference has already been made, required ..... ; (1) that regulation of trade, commerce and intercourse among the states is compatible with its absolute freedom, and (ii) that section 92 is violated only when a legislative or executive act operates to restrict such trade, commerce and intercourse directly and immediately as distinct from creating some indirect or consequential impediment which may fairly be regarded as remote. ..... economy committee', if i may say so with respect, were either ignorant of the provisions of chapter xii of the constitution and the recommendations of the taxation enquiry commission 1953-54, or they had ..... ; (ii) if any building consists of both residential and non-residential portions, the residential and non-residential portions shall be deemed to be separate buildings and the buildings tax shall be levied accordingly; (iii) if any residential building is converted into a non-residential building by being put to non-residential use or otherwise, buildings tax shall be payable at the rates applicable to non-residential buildings, and credit shall be given to the .....

The Commissioner of Income-Tax Vs. M/S Karnataka State

Court : Karnataka

..... (3) the provisions of sub-section (2) shall also apply in relation to a case where an assessee claims that no expenditure has been incurred by him in relation to income which does not form part of the total income under this act: provided that nothing contained in this section shall empower the assessing officer either to reassess under section 147 or pass an order enhancing the assessment or reducing a refund already made or otherwise increasing the liability of ..... the case was taken up for scrutiny and the assessment was completed under section 143(3) of the income tax act, 1961 (hereinafter referred to as the act ) by the order dated 21.11.2011 determining the loss of assessee at rs.1,73,60,760/-. ..... as regards the issue of computation of the expenditure, rule 8d of the rules contains three limbs, namely:- i) ii) iii) expenditure directly related to the earning of exempt income; interest expenditure not directly attributable to any particular income; and amount equal to one-half percent of the average value of investments, income from which does not form part of total income. ..... incurred in relation to income not includible in total income 5 (1) for the purposes of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under this act. ..... respondent-assessee is an undertaking of government of karnataka engaged in financing industrial units. .....

Pr Commissioner Of Income Tax Vs. M/s Ennoble Construction

Court : Karnataka Dharwad

..... accordingly, the parliament vide finance (2) act, 1998 inserted inter alia sections 260a & 260b in chapter xx of the 1961 act to provide for an appeal against the orders of tribunal directly to the high court, within whose jurisdiction, office of the ao is situate ..... the revenue in its memorandum of appeal filed under section 260a of the income tax act, 1961 (hereinafter 1961 act ) had framed the following question, as the substantial question of law: whether on the facts and in the circumstances of the case, the tribunal is justified in law in setting aside the disallowance of rs.5,89,49,503/- claimed as transport creditors by following ..... mayank jain, advocate) this ita is filed under section260a of the income tax act, 1961 arising out of order dated2711.2015 passed in ita no.449/bang/2014, for the assessment year20092010 praying to decide the foregoing question of law and/or such other questions of law as may be formulated by the hon ..... 2 251 itr84- 10 - ita no.383 of 2016 (iii) it is profitable to see what kanga & palkhivala s law and practice of income tax , vol. ..... this appeal by the revenue seeks to lay a challenge to the order dated 27.11.2015 made by the income tax appellate tribunal, b bench, bangalore (hereinafter itat ), whereby the statutory appeal of the assessee in ita no.449/bang/2014 having been favoured the addition made by the assessment officer on account of transport creditors, is set at naught, and to that extent the assessee has been relieved of tax liability.2. .....

Micro Labs Ltd., Vs. Deputy Commissioner of Income-tax (Assessment) an ...

Court : Karnataka

Reported in : (2001)166CTR(Kar)148; [2001]247ITR333(KAR); [2001]247ITR333(Karn); [2001]115TAXMAN27(Kar)

..... commencement of the scheme ; (c) which has escaped assessment by reason of the omission or failure on the part of such person to make a return under the income-tax act or to disclose fully and truly all material facts necessary for his assessment or otherwise, then notwithstanding anything contained in the income-tax act or in any finance act, income-tax shall be charged in respect of the income so declared at the rates specified thereunder.4.sub-section (2) of section 64 which contains the exceptions to section 64(1) reads as follows :'nothing' contained in sub- ..... the voluntary disclosure of income scheme, 1997, introduced by chapter iv (sections 62 to 78 of the finance act, 1997 ('the act' for short)), was in force between july 1, 1997, and december ..... -section (1), a specific power is given to the board for the purpose of proper and efficient management of the work of assessment and collection of revenue to issue from time to time general or special orders in respect of any class of incomes or class of cases, setting forth directions or instructions, not being prejudicial to assessees, as to the guidelines, principles or procedures to be followed in the work relating to assessment. ..... supreme court held that a law made by parliament or the legislature can be struck down by the courts only on two grounds that is (i) lack of legislative competence, and (ii) violation of any of the fundamental rights guaranteed in part iii of the constitution or of any other constitutional provision. .....

Revajeethu Builders and Developers Vs. S. Vasudeva

Court : Karnataka

Reported in : ILR1991KAR1417; 1991(1)KarLJ522

..... from the purview of the urban land (ceiling and regulations) act, under section 20(1)(a) and (b) of the urban land ceiling act, issued by the under secretary, housing and urban development department, government of karnataka, bangalore;(d) directing the 9th respondent to initiate proceedings against the 5th respondent and 4th respondent under chapter xxc of the income tax act which came into force on 1-10-1987 in relation to the ..... respondent was in the public interest and as to whether there was undue hardship caused to respondent-4 and if there was undue hardship caused to rospondont-4 due to indebtedness no safeguards or the modus operandi were directed to be adopted to see that the land fetches a fair market value and the creditors are paid so that respondent-4 is relieved of indebtedness, and all other factors relevant to the issue were ..... relied upon the decided cases of the supreme court which are quite well known and has proceeded to hold that having regard to the fact that the act was passed by parliament to further the objects of one of the directive principles of state policies under article 39(b) and (c) of the constitution; that the ownership and control of the material resources of the community were so ..... true principle set forth in that decision is that a holder of a land in excess of the ceiling limit cannot claim exemption from chapter iii merely on the ground of indebtedness, but if such indebtedness is so heavy that if exemption is not granted he is likely ..... .....