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 .....
Tag this Judgment!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 .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1989)28ITD85(All.)
..... for the purpose of the company's business. this argument was repelled by the income-tax officer in view of the provisions of section 37(5) of the act inserted by the finance act, 1983 with retrospective effect from 1-4-1979. it states that any accommodation, by whatever name called, maintained, hired, reserved or otherwise arranged by the assessee ..... income-tax (appeals) in the year under appeal also rejecting the assessee's stand that its claim had been admitted by the income-tax officer himself in the assessment year 1978-79. it will, therefore, be necessary to refer to the stand of the commissioner of income-tax (appeals) in the assessment year 1976-77. according to him, the ..... when they were made to the government were debited to this account.4. as a result of the decision of the supreme court, which was rendered on december 12, 1978, the assessee became entitled to the refunds of the taxes already paid to the government. it appears that there were two such refunds, one of rs. 13,71,251 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1986)15ITD490(All.)
..... at a particular place and that it was exempt under section 10(74).16. the counsel pointed out that subsequently an explanation to the above section was inserted by the finance act, 1975, with retrospective effect from 1-4-1962. this explanation reads as under : explanation : for the removal of doubts, it is hereby declared that any allowance granted ..... notice. we are, therefore, bound by that decision in view of the principle laid down by the bombay high court in the case of cit v. smt.godavaridevi saraf [1978] 113 itr 589. as held by the commissioner (appeals) the facts of the present cases are almost similar to the facts of the gujarat high court case. in ..... for the consideration of the ito in these appeals was regarding the taxability of salary payable to the above employees.this question is relevant only for the assessment year 1978-79.subsequently, the agreement dated 23-3-1976 was terminated vide a new agreement dated 27-12-1977. the termination took place with effect from 31-7-1977. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (2007)111TTJ(All.)717
..... of income. prior to this, he is required to pay advance tax as and when he earns income. the liability to pay tax is further fixed by various finance acts and it does not depend upon final assessment to be made. final assessment will only determine the amount of tax as assessed by assessing officer but prior to that ..... at that time was in the form of additional tax. hon'ble supreme const held as under: the expression "assessment" used in the sections of chapter iv of the income-tax act is not used merely in the sense of compulation of income and when section 44 declares unit the partners or members of the firm or association shall ..... other proceeding. the two expressions are joined by the conjunction "and" therefore the domain of the second expression is limited by the contents of the first expression. (vi) in chapter xv, dealing with the 'liability in special cases-representative assessees" (i.e. cases like the present one) the legislature has used the word "levy and collection of any .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1983)6ITD750(All.)
..... dated 29-6-1981 issued by the cbdt giving explanatory note on provisions relating to direct taxes in the finance act, 1981. in this circular also, the board have emphasised the underlying idea for introducing section 21aa in the act as pointed out by the finance minister in his budget speech. the counsel relying on the decision of the supreme court in k.p ..... aop in respect of that property. this was also the view taken by the tribunal in, the case of s.k. gupta [it appeal nos. 760 to 762 (all.) of 1978-79, dated 24-1-1981] a copy of which was placed before us. the supreme court in the case of cit v. indira balkrishna, [1960] 39 itr 546 had held ..... wto for fresh consideration in the light of the above observations. there will, however, be no relief due to the assessees in respect of the assessment years 1974-75 to 1978-79 as in those years their declared values had been accepted by the wto and there could not have been any dispute about such valuations before the aac.6. we .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1987)20ITD544(All.)
..... voluntary disclosure, the statement was accepted without enquiry or satisfaction that disclosed amount represented income of the assessee and, therefore, the certificate granted by section 215 of the finance act, 1965, would not preclude an examination of the explanation, although such declaration may be admissible piece of evidence, but not conclusive. this is the view of ..... valuation date for the assessment years 1972-73 to 1977-78 and, therefore, the assessee would not be liable to pay wealth-tax for the assessment year 1978-79 onwards because having regard to the inadequacy of the withdrawals and also the style of living by the assessee, it can reasonably be presumed that the ..... spent away, but was available with the assessee till the assessment year 1982-83, which means that the same amount was still available as on 31-3-1978 being the valuation date for the year under consideration. he, therefore, concluded that the said mistake of non-inclusion of the above sum was a mistake apparent .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1986)19ITD360(All.)
..... that it could not be allowed as a deduction in terms of section 43b of the act inserted by the finance act, 1983, with effect from 1-4-1984. this section states that notwithstanding anything contained in any other provision of the ..... was of the view that the above amount represented the assessee's income under section 41(1) of the income-tax act, 1961 ('the act') as it was in the nature of a revenue receipt. according to him, the amount was also taxable as business income ..... another person, who thereafter carries it on. unless otherwise stated, the same word has to be given similar meaning in an act. according to this principle, therefore, the discontinuance means a complete cessation of the business and not the transfer of the business by ..... company. it was incorporated on 2-1-1979. before its incorporation, a memorandum of association was drawn up on 25-12-1978. as per this memorandum it was decided that the newly constituted company will take over the business or businesses earlier carried on .....
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