Judgment Search Results Home > Cases Phrase: finance act 1978 chapter i preliminary Court: income tax appellate tribunal itat allahabad Page 1 of about 11 results (0.282 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.)

..... 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 ..... this aspect, reliance was placed by shri garg on the celebrated decision of the summit court in the case of maneka gandhi v. union of india reported in air 1978 page 597. shri garg also submitted that an assessment could not be equated with a normal order. he referred to the definition of the term 'assessment' as given in ..... .'s case (supra) and dwijendra lal brahmachari v. new central jute mills co. ltd. [1978] 112 itr 568, to the effect that the powers vested by section 131 of the act in an assessing officer are to be exercised "for the purposes of this act" interpreted to mean "for the purposes of assessment", in my opinion would also not matter much .....

B.i.C. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1996)59ITD210(All.)

..... ao passed an order under s. 154 on 31st aug., 1992, deleting the additional tax. subsequently, there was an amendment of s. 143(1a) brought out by the finance act, 1993, with retrospective effect from 1st april, 1993, according to which additional tax could be charged even where the loss declared by the assessee in the return was reduced in ..... . vs. asstt. cit (supra), reliance was placed on the decision of the bombay high court in cit vs.smt. godavaridevi saraf (1978) 113 itr 589 (bom), where it was observed that an authority like the tribunal, acting anywhere in the country, has to respect the law laid down by the high court in the country, though of a different state ..... returned income and the income after prima facie adjustments being losses. this direction has been given in view of the retrospective amendment of s.143(1a) brought about by the finance act, 1993, w.e.f. 1st april, 1989.the cit(a) has held that such additional tax can be charged in view of the decision of the supreme court .....

Cawnpore Sugar Works Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Allahabad

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

..... 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, it is obvious that there was no liability on the assessee to deduct tax ..... apply even though with lesser force to the penalties for the subsequent assessment years where also the penalties were imposed after the lapse of several years on 23-10-1978. in the alternative, dr. vaish vehemently argued before us that the penalties sustained in appeal by the commissioner (appeals), equal to 50 per cent of the tax ..... -70 relating to the payments made on or about 1968 from which no tax was deducted at source at that time after about 10 years on 23-10-1978 amounted to abuse of power for imposition of penalty and, therefore, on this ground also the penalties for the assessment year 1969-70 should be quashed and .....

Verma Roadways Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

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

..... 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 ..... to assess the undisclosed income in accordance with the provisions of this chapter. therefore, by a plain reading of section 158ba, it is 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 ..... been issued in pursuance of search which took place under section 132 of the income-tax act. referring to the speech of hon'ble finance minister reported in 212 itr 87 statute para 71(81), he pointed out that the provisions of chapter xiv-b were introduced to make the procedure more effective and, therefore, only procedural .....

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

Court : Income Tax Appellate Tribunal ITAT Allahabad

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

..... of article 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 agency ..... order passed by the ito for the assessment year in question, the directions dated 22-9-1979 given by the iac (assessments) to the ito order dated 27-1-1978 and of the hon'ble high court in the corporation's writ petition supra and para 2 of the order dated 21-2-1980 of the learned commissioner (appeals) ..... clearly provides that the corporation shall, for all purposes, be a local authority. in view of this specific provision and in view of the decision dated 27-1-1978 of the lucknow bench of the hon'ble high court in the writ petition filed by the assessee and referred to above, it is clear that the corporation is a .....

Shervani Industrial Syndicate Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2006)99TTJ(All.)123

..... basis of such an advice being the express provision which got inserted in section 55(2)(a) by the finance act, 2001. 6. it is further submitted that the said amendment was brought in terms of clause (32) of the finance bill, 2001, true import of which was explained in the memorandum of notes on clauses which reads as ..... capital gain and the transaction came within the purview of computational provisions of section 45. this position has been amply clarified in the 'memorandum of notes' on clauses of the finance bill, 2001, also. so, from the asst. yr. 2002-03, the 'transfer' of 'trademark' or 'brand name' attracts taxability under the head 'capital gain'. since ..... realized or cannot be realized. it can mean nothing else" the aforesaid observations were also applied by the gujarat high court in addl. cit v. mukur corporation (1978) 111 itr 312 (guj). we are of the opinion that the aforesaid interpretation given by the calcutta high court to the expression 'prejudicial to the interests of the .....

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 ..... collecting evidence in suit". (basant kumar swain vs. baidya kumar parid & ors. air 1989 ori 118. the institute of engineers (india) & anr. vs. bishnu pada bag & anr. air 1978 cal 296). the object and purpose of local investigation under r.9, o. 26, cpc is to clarify or explain any point which is left doubtful on the evidence on .....

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

Court : Income Tax Appellate Tribunal ITAT Allahabad

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

..... 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 ..... kunhi [1969] 71 itr 815. next he referred to the decision of the delhi high court in l.bans dhar & sons v. cit [1978] 111 itr 330. lastly, he referred to the decision of the andhra pradesh high court in director d.r. & d.laboratories v. c. ..... 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 ..... powers, is different. we need not digress any further. there can be no manner of doubt that by provisions of the act or the income-tax appellate tribunal rules, 1963, powers have not been expressly conferred upon the appellate tribunal to stay the proceedings .....

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 .....