Court : Kerala
Reported in : [1997]228ITR314(Ker)
..... the case of any person, then, the assessing officer shall proceed to assess the undisclosed income in accordance with the provisions of this chapter.'4. chapter xiv-b was inserted in the income-tax act, 1961, by the finance act, 1995, with effect from july 1, 1995. it is an admitted case that the search was conducted in this case under section ..... will not apply in a case where a search is initiated under section 132 before june 30, 1995, the date on which the finance act, 1995, came into force. in that view, it cannot be said that chapter xiv-b has retrospective operation. at the same time, the definition of 'block period' contained in section 158b indicates that it operates ..... 132 of the act and that it was on february 23, 1996. that means chapter xiv-b as it stands now would apply in the present case. earlier chapter xiv-b was .....
Tag this Judgment!Court : Kerala
Reported in : [1999]237ITR706(Ker)
..... 30 to 43c. this was the position with respect to every person who is subjected to be charged under section 4 of the act. the legislature, by the finance act, 1983, introduced a new chapter--chapter vi-b--containing only one provision--section 80wa--imposing restriction on certain deductions in the case of companies, with effect from april 1, ..... 1984. later, by the finance act, 1987, the said chapter was deleted with effect from april 1, 1988. simultaneously, in the finance act, 1987, itself a new chapter--chapter xii-b--containing only one section--section 115j-- was inserted. so, as on the date of introduction of ..... supreme court again in standard refinery and distillery ltd. v. cit : [1971]79itr589(sc) and also in b.r. ltd. v. v.p. gupta, cit : [1978]113itr647(sc) . the tribunal, in the instant case, found as a fact that all the tests laid down by the supreme court in the abovementioned decisions are satisfied. .....
Tag this Judgment!Court : Kerala
Reported in : [1999]240ITR668(Ker)
..... filed under section 245c will be disposed of as per the provisions of that chapter and the settlement commission is not in any way bound by the other provisions of the act, in particular section 186 of the act. it is further submitted that the amendment by way of the finance act, 1987, was introduced with effect from june 1, 1987, only for the ..... the issue that is involved in this original petition, it is not necessary to mention the entire factual details. suffice it to say, that the petitioner filed return for 1978-79 and the assessment for the said year was pending. at that stage, the petitioner filed a petition before the settlement commission to have the case settled in terms of ..... the parties.2. the point that is now taken by the petitioner is that the return filed for the year 1978-79 is for the period ending on march 31, 1979, and that cancellation of registration under section 186 of the act can be made only within a period of eight years from march 31, 1979, i.e., on or before .....
Tag this Judgment!Court : Kerala
Reported in : (1999)157CTR(Ker)375; [2000]242ITR1(Ker)
..... for a mandamus directing to dispose of exhibit p-3 declarations on the merits and in accordance with the provisions of the kar vivad samadhan scheme in chapter iv of the finance (no. 2) act of 1998.3. shri p. g. k. wariyar contended that the entire procedure adopted by the respondent was irregular and against the provisions of the ..... scheme the assessee deposits the same within the time prescribed. because 90(in such event the revision is deemed to be withdrawn under section 4) of the finance (no. 2) act of 1998.'9. in the above view of the matter, i quash exhibits p-5, p-6 and p-7 and direct the respondent to consider and ..... cases is similar and they are disposed of by a common judgment. the petitioners in both these original petitions were partners of a firm called thoppil finance, which was an assessee under the income-tax act, 1961. by order dated september 25, 1997, of the settlement commission, the assessing authority, viz., the assistant commissioner of income-tax, investigation circle .....
Tag this Judgment!Court : Kerala
Reported in : (2002)173CTR(Ker)402; [2002]254ITR134(Ker)
..... to refer to certain passages of the said decision for our purpose. the apex court was considering the validity of the various provisions in chapter xx-c inserted in the income-tax act, 1961, by the finance act, 1986. while considering the scope of section 269ud(1), the apex court held as follows (page 553): 'in the light of what ..... and to every other person whom the appropriate authority knows to be interested in the property.'16. it was inserted by the finance act, 1993, with effect from november 17, 1992.17. the provisions of chapter xx-c relate to the purchase by the central government of immovable properties in certain cases of transfer that the apparent consideration is ..... above-mentioned principle laid down by the apex court.14. chapter xx-c of the income-tax act consisting of section 269u to 269uo was inserted in the income-tax act by the finance act, 1986, with effect from october 1, 1986. many of the provisions of the earlier chapter xx-a were found to be unworkable and the task of .....
Tag this Judgment!Court : Kerala
Reported in : 2004(2)KLT585
..... sons (udyog) pvt.ltd. : [1985]154itr735(cal) , the gujarat high court in deepak textile industries ltd. : [1987]168itr773(guj) , and the bombay high court in estate and finance ltd. : [1978]111itr119(bom) , we are of the opinion that the decision of the madras high court in east asiatic co. (india) p. ltd. : [1986]161itr135(mad) and the decision of the ..... can be no depreciation allowance.'11. the bombay high court in c.i.t. v. estate and finance ltd. : [1978]111itr119(bom) considered the question whether on a proper interpretation of sections 56, 57(ii) and 32(2) of the act, the unabsorbed depreciation brought forward since 1952-53 could be set off against the business income assessed in ..... as has not been so set off or, where he has no income under any other head, the whole loss shall, subject to the other provisions of this chapter, be carried forward to the following assessment year and the same shall be set off against the profits and gains, if any, of any business or profession carried .....
Tag this Judgment!Court : Kerala
Reported in : (2005)199CTR(Ker)1
..... other hand, contended that there is no basis in the abovementioned contention. counsel submitted sub-section (2) of section 158bfa falls under chapter xiv-b which was inserted by finance act, 1995. chapter xiv-b deals with special procedure for assessment of search cases. counsel submitted there is no illegality in levying interest and penalty in those ..... apex court in cto and ors. v. swastik roadways and anr. : (2004)3scc640 to bring home this point.7. chapter xiv-b consists of sections 158b to 158bh which was inserted by finance act, 1995 so as to provide for an assessment of the undisclosed income detected as a result of the search, and is ..... cases which fall under chapter xiv-b. counsel also made reference to the decision of the gujarat high court in rahimbhai karimbhai nagriwala v. b. .....
Tag this Judgment!Court : Kerala
Reported in : (2005)199CTR(Ker)581; 2005(4)KLT947
..... of central excise (appeals). however, the appeals were dismissed since the same were filed beyond the period prescribed under sub-section 3 of section 85 of the finance act, 1994 and the commissioner (appeals) did not have power to condone delay beyond the maximum period prescribed under the said section. although the respondents have a further ..... :--if the [assistant commissioner-of central excise or, as the case may be, deputy commissioner of central excise] in the course of any proceedings under this chapter is satisfied that any person has, with intent to evade payment of service tax, suppressed or concealed the value of taxable service or has furnished inaccurate value ..... of-(a) fraud; or(b) collusion; or(c) wilful mis-statement; or(d) suppression of facts; or(e) contravention of any of the provisions of this chapter or of the rules made thereunder with intent to evade payment of service tax, the person, liable to pay such service tax or erroneous refund, as determined under subsection .....
Tag this Judgment!Court : Kerala
Reported in : (2006)199CTR(Ker)581
..... of opinion that the respondents could not have raised their contentions regarding the imposition of penalty on merits notwithstanding the limitation prescribed under section 85(3) of the finance act, 1994, and dismissal of their appeals on the ground of limitation even in the writ petitions filed under article 226 of the constitution.10. although the writ ..... of--(a) fraud, or(b) collusion, or(c) wilful mis-statement, or(d) suppression of facts, or(e) contravention of any of the provisions of this chapter or of the rules made thereunder with intent to evade payment of service-tax, the person, liable to pay such service-tax or erroneous refund, as determined under sub- ..... penalty for suppressing value of taxable service.-if the assistant cce or, as the case may be, deputy cce in the course of any proceedings under this chapter is satisfied that any person has, with intent to evade payment of service-tax, suppressed or concealed the value of taxable service or has furnished inaccurate value of .....
Tag this Judgment!Court : Kerala
Reported in : (2007)211CTR(Ker)377; [2007]293ITR26(Ker); 2007(2)KLJ762; 2007(4)KLT70
..... , subject to the provisions of this chapter, have power to regulate its own procedure and the procedure of benches thereof in all matters arising out of ..... of any express direction by the settlement commission to the contrary, nothing in this chapter shall affect the operation of the provisions of this act insofar as they relate to any matters other than those before the settlement commission.(5) and (6)(omitted by the finance act, 1987 w.e.f. 1st june, 1987).(7) the settlement commission, shall ..... may be imposed and recovered by the ao having jurisdiction over the assessee in accordance with the provisions of chapter xvii of the it act.14. at this stage, it is also relevant to refer to section 245f of the act and its provisions, which is as under:245f powers and procedure of settlement commission - (1) in addition .....
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