Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Sorted by: recent Court: income tax appellate tribunal itat allahabad Page 1 of about 30 results (0.132 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 .....

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 .....

The Dy. Cit Vs. Sri Alok Banerjee and Sri Subir

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2008)111ITD339(All.)

..... part of head notes from the above decision is 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 computation of income and when section 44 declares that the partners or ..... substitute in its place the order made on reassessment. therefore, the assets could be revalued.21. similarly, the decision in dubey land & finance ltd. (supra) i.t.a.t. lucknow ench is silent on the meaning of the word "may" and "assessment" and also ..... 03. for the asstt. yr. 97-98 decided on oct. 28,04 and reported in 2005(6) mtc-175 tribunal and dubey land & finance ltd. 105, friends complex, hazratganj, lucknow v. ito in i.t.a. no. 653, 654 & 655/l/03 for the a.y ..... notes from the above decision are as under: the term "assessment" in the provision prescribing the period of limitation in the wealth-tax act, 1957, has been used in comprehensive sense which includes the integrated process of computation of net wealth as well as computation of tax .....

Late Iqbal Hussain, L/H-2 Ekram Vs. Income-tax Officer, Ward-1(1)

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 .....

Late Iqbal HussaIn Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... 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 court 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 computation of income and when section 44 declares that 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 penalty .....

Gorakhpur Petro Oils Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2005)95TTJ(All.)489

..... assessee's income from undisclosed sources. it was contended by the assessee that the query made by the ao was outside the scope and purview of chapter xiv-b of the it act. the ao rejected the contention of the assessee-company. the assessee submitted 50 affidavits of various corporate shareholders and also submitted income-tax orders, acknowledgment ..... case of stellar investment ltd. as decided by the hon'ble delhi high court at p. 105 of 205 itr (in case of sophia finance ltd.) "section 68 of the act was not referred to and the observations in the said judgment cannot mean that ito cannot or should not go into the question whether the ..... by 2 directors of 2 companies namely, sh. kamal kishore aggarwal, director of mohak trading company (p) ltd. and sh. vimal kishore aggrawal, director of profen finance investment ltd. that the books of account and other records were kept with chartered accountants only. these directors did not know number of shareholders, subscribed/paid up capital, .....

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 .....

Assistant Commissioner of Income Vs. U.P. Hotel Ltd.

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2002)83ITD443(All.)

..... and argued by both the parties. for the sake of convenience, section 275(1)(a) and (c) are reproduced below : "sec. 275(1) no order imposing penalty under this chapter shall be passed- (a) in a case where the relevant assessment or other order is the subject-matter of an appeal to the cit(a) under section 246 or section ..... assessee has not filed appeal before the tribunal. the department's view is fully supported by the decision of the hon'ble allahabad high court in the case of rampur finance corporation ltd. v. cit (1991) 67 taxman 162 (all)." 2. the assessee has preferred cross-objection no. 1 of 2002 against the same order of the cit(a) ..... grounds: "1. because the learned cit(a) has erred in upholding the validity of the penalty proceedings which had clearly barred by limitation in terms of section 275 of the it act. 2. because the learned cit(a) has failed to appreciate that the penalty proceedings had not been validly initiated and hence the entire proceedings were ab initio void." 3. .....

Assistant Commissioner of Income Vs. Bal Bharti Nursery School

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2002)82ITD71(All.)

..... and for the benefit of mr. h.r.a. bakhat his mother and other family members, who have the sole control over the affairs as well as the finance of the assesse. (a) by way of payment ,of abnormally high rent for a portion of the premises to mr. bakhat and his mother. here it is ..... the individuals under part in could be enjoyed by all. without making 'right to education' under article 41 of the constitution on reality the fundamental rights under chapter ii shall remain beyond the reach of large majority which is illiterate. the fundamental rights guaranteed under part iii of the constitution of india including the rights to ..... in classrooms or imparting education should necessarily be an "educational institution or an institution for education as envisaged in the provisions of section 10(22) of the act.for example, a person either individually or through an institution by employing more than one person imparts education--generally called tuitions coaching; and earns his livelihood from .....