Court : Rajasthan
Reported in : (1987)59CTR(Raj)175; [1987]167ITR764(Raj); [1987]32TAXMAN204(Raj)
..... ) :'to conclude, it must be that held that the parent intent of the legislature in amending section 271(1)(c) and in inserting the explanation thereto by the finance act of 1964 was to bring about a change in the existing law. consequently, the ratio of anwar alis case : [1970]76itr696(sc) , which had considered the ..... notices, concealment of income, etc. - (1) if the income-tax officer or the appellate assistant commissioner (or the commissioner appeals) in the course of proceedings under this act, is satisfied that any person - ...(c) has concealed the particulars of his income or furnished inaccurate particulars of such income,...'there was an explanation to sub-section (1 ..... income which she earned from this truck. he, therefore, imposed a penalty of rs. 15,500 on the assessee under section 271(1)(c) of the act. the assessee went in appeal before the tribunal. the tribunal set aside the order of the inspecting assistant commissioner. the tribunal took the view that penalty proceedings .....
Tag this Judgment!Court : Rajasthan
Reported in : (1996)130CTR(Raj)585
..... it operated. they were a permanent installation and provided support for services used by the company for carrying on its trade. the company claimed capital allowance under the finance act, 1971, s. 41 in respect of the expenditure incurred, contending that it constituted capital expenditure on the provision of plant. on appeal by the crown from the ..... incurred on the provision of plant for the purposes of their trade, and accordingly claimed a first-year allowance in respect of it under s. 41 of the finance act, 1971. the inspector of taxes disallowed the claim, but on appeal the special commissioners reversed the inspectors decision and upheld the taxpayers claim.34. the building in ..... generators and other machinery needed for the operation of the dock, was allowable expenditure as it constitute a plant.19. in benson vs. yard arm club ltd. 1978 2 all er 88 it was observed that a ship which was converted into a restaurant cannot be considered to be an appratus for carrying on the business of .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)77TTJ(NULL)849
..... it is pertinent to note here that clause (a) of section 43b at the relevant time referred only to tax or duty. however, the same was substituted by the finance act, 1988, with effect from 1-4-1989, to read as under :'(a) any tax, duty, cess or fees payable under a statute by whatever name called'.with the ..... of the assessee assessable for a particular assessment year the total income for this purpose being computed without making any deduction under section 32a or under chapter vi-a of the act.1.5. that issue for consideration is whether the total income against which the unabsorbed investment allowance is to be set off is the one after ..... and deficiency under section 80j may kindly be allowed as claimed by the appellant.'5. in reply, the learned departmental representative submitted that section 80j is part of chapter vi-a and, therefore, contended that priority has to be given to other carried forward allowances over the deficiency under section 80j. he further submitted that the decisions .....
Tag this Judgment!Court : Rajasthan
Reported in : [2007]289ITR154(Raj)
..... allowable claims of the assessee was to secure that before taking benefit of deduction from taxable income, such liability must be discharged.8. section 43b(a) was amended by the finance act, 1988, with effect from april 1, 1989. in general terms, it reads 'any sum payable by the assessee by way of tax, duty, cess or fee, by ..... counsel for the appellant has also placed reliance to some extent.7. the contention of the revenue is founded on the terms that section 43b was introduced by the finance act, 1983, with effect from april 1, 1984, with a view to restrict liability of certain claims of deduction only on the basis of actual payment and not merely ..... legitimate means, discern the statute was intended to remedy.23. the hon'ble supreme court in the case of union of india v. sankalchand himatlal sheth 0065/1977 : [1978]1scr423 , speaking through hon'ble krishna iyer j. said that (page 2374):the judicial interpretation should not be imprisoned in verbalism and words lose their thrust when read .....
Tag this Judgment!Court : Rajasthan
Reported in : [1986]61STC393(Raj); 1985(2)WLN255
..... second part of section 271(1)(c) the word 'deliberately' was there. the expression used was 'deliberately furnished inaccurate particulars of such income'. the word 'deliberately' was omitted by the finance act, 1964, w. e. f. 1st april, 1964.10. anwar ali's case : [1970]76itr696(sc) was followed in anantharam veerasinghaiah & co. v. commissioner of income-tax, ..... 45 stc 345 which was relied on by the learned counsel for the dealer-assessee and r.s. joshi, sales tax officer, gujarat v. ajit mills limited : [1978]1scr338 cited by the learned counsel for the sales tax department. in vijai hosiery mills' case [1980] 45 stc 345 the question that was referred to in that ..... conscious concealment or deliberate furnishing of inaccurate particulars therein.14. so far as ajit mills ltd.'s case : [1978]1scr338 is concerned it need not detain us long. section 37(1) of the bombay sales tax act, 1959 (51 of 1959 as applicable to the state of gujarat), came up for consideration. while considering section .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)86TTJ(NULL)389
..... tax payable under this provision shall be 7.5 per cent of the book profit, the first proviso to section 2(8) of the finance act, 2001 reads as under :'provided that in cases to which the provisions of chapter xii or chapter xiia or section 155jb or sub-section (1a) of section 161 or section 164a or section 167b of the income tax ..... the cbdt. the circular is with regard to the payment of advance tax and also charging of interest under sections 234b and 234c of the act in terms of the new section 115jb inserted by the finance act, 2000 with effect from 1-4-2001. it is stated that conceptually section 115jb differs from the erstwhile section 115ja which provides for mat on ..... act, apply, advance-tax' shall be computed with reference to the rates imposed by this sub-section or the rates as specified in that chapter or section, as the case may be.' it is thus clear that all companies are liable for payment .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)59; [2004]269ITR461(Raj)
..... of the present case on all fours and no distinction can be found on the basis of tungabhadras's decision (supra).49. in cit v. s.m. holding & finance (p) ltd. the bombay high court was required to consider the same question. the assessee-company had issued unsecured redeemable debentures of rs. 100 each redeemable after 10 ..... per year. the payment of rs. 105 was to be made against the issue amount of rs. 100 per debenture. thus, against receipt of rs. 3 crores of finance the assessee agreed to rs. 3,15,00,000. the assessee maintains its books of account as permercantile system. though, no entries have been made regarding this liability in ..... england as well as indian companies act, 1956, clarifies that the debentures can be issued without constituting a mortgage or charge on the assets of the company. however, it does not intend to define what debenture is.24. in this connection, paddington in his chapter of debentures and debt securities in his book 'company law' discussed the property .....
Tag this Judgment!Court : Rajasthan
Reported in : (2008)214CTR(Raj)398; [2009]316ITR361(Raj)
..... whether block assessment made by the assessing authority, as modified by the tribunal, can be sustained in view of the amended clause (c) of section 158bb of the act, as inserted by the finance act, 2002, w.e.f. 1st july, 1995.3. so far as the question nos. 1 and 4 are concerned, as an abstract legal proposition, they are ..... so far as the question of burden of proof is concerned, in our view, on the face of the language of section 158bb, and rather all provisions contained in chapter xiv-b, we are satisfied, that even from the standpoint of burden of proof, the learned tribunal has rightly appreciated the evidence of the assessee.11. consequently, the ..... by the ao. a search was undertaken on 5th jan., 1996, and consequent thereupon proceedings were initiated, and vide annex. 1, assessment was made under section 158bc of the act, assessing a total undisclosed income of rs. 12,19,481, and assessing tax thereon.2. the appeal was admitted vide order dt. 9th dec, 2002, by framing four substantial .....
Tag this Judgment!Court : Rajasthan
Reported in : (1996)131CTR(Raj)256
..... . 144 shall be made after the expiry of two years from the end of the assessment year in which the income was first assessable.note - sec. 20 of the finance act, 1989, has further amended the said sub-s. (1) of s. 153 to provide for transitory provisions whereby an exception is made in the case of a return ..... with the amended provisions. the following examples will clarify the position :(i) no notice under s. 148 can now be issued for the asst. yrs. 1973-74 to 1978-79, even if the escaped income is rs. 50,000 or more in each year, although under the old provisions this could have been done with the boards approval.( ..... 1989 are reproduced hereunder :'7.1. simplification of the provisions relating to assessment or reassessment of income escaping assessment (s. 147). - under the old provisions of s. 147 of the it act, separate cls. (a) and (b) laid down the circumstances under which income escaping assessment for the past assessment years could be assessed or reassessed, as follows -(i) clause ( .....
Tag this Judgment!Court : Rajasthan
Reported in : 1992(3)WLC661; 1991(1)WLN291
..... from the persons described in sections 5 and 6 of the act. chapter v of the act contains section 19, which lays down right to appeal.36. chapter vi of the act contains sections 20 to 23 of the act. section 20 of the act lays down that the provision of this act shall have effect notwithstanding anything inconsistent therewith contained in any other ..... of india and all other powers enabling it in that behalf framed the rules of the high court of judicature for rajasthan, 1952 (for short the rules') chapter iii of these rules deals with administrative business of the court. rule 14 provides that all administrative business of the court relating to the control over subordinate courts ..... in this respect, our attention was drawn to a decision of their lordships of the supreme court in state of u.p. v. batuk deo pati tripathi (1978) 8 scc 102, wherein it was held:article 225 of the constitution provides that the jurisdiction of any existing high court and the respective powers of the judges thereof .....
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