Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)107ITD343(Chd.)
..... . looking to the curative nature of the amendment made by the finance act, 1987, it has been submitted before us that the proviso which is inserted by the amending finance act of 1987, should be given retrospective effect and be read as forming a part ..... the dispute was whether transfer in favour of an auction purchaser for a consideration without notice of charge was protected under second part of section 100 of transfer of property act.it was held that in the light of provisions of section 2(d) of transfer of property act, providing that nothing herein contained shall be deemed to affect save as otherwise provided by section 57 and chapter iv of this act, auction purchase is "transfer" by operation of law or by any execution of a decree or order of a court of competent jurisdiction ..... therefore, it has been stated before the special bench in the course of the preliminary hearing, that the issue referred before it needs to be considered in two segments as one relating to the cash payment of advance duty and the second relating to the modvat ..... when the bench was in session and preliminary arguments were placed before it, the bench found that apart from the decisions of regular benches of the tribunal which have resulted in divergent views, there are special ..... in the course of preliminary hearing of the issue, the three member bench, which was constituted at the first instance, had also an occasion to consider the exact nature of the issue to be considered and decided especially in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1999)70ITD62(Chd.)
..... to the scheme of chapter xiv-b, inserted by the finance act, 1995, w.e.f. ..... or thing and such money, bullion, jewellery or other valuable article or thing represents either wholly or partly income or property which has not been, or would not be, disclosed for the purpose of the act (referred to as the undisclosed income or property), then the dg/dd may conduct search and seize such money, bullion; jewellery or other valuable article or thing found as a result of such search. ..... ttj (mumbai) 610 : (1997) 63 itd 245 (mumbai), wherein it has been held that the scheme of chapter-xiv-b does not give power to the revenue to draw presumptions in regard to undisclosed income. ..... 158bb, undisclosed income of the block period has to be computed in accordance with provisions of chapter iv, on the basis of evidence found during search, as reduced by the aggregate of total income ..... that no second inning should be provided to the department, as the provisions of chapter xiv-b relating to special procedure for assessment of search cases are required to be ..... learned departmental representative further referred to the preliminary statement of shri vinod viyogi recorded on 7th september, 1995, and pointed out that he purchased land in various ..... in balance sheet as on 31st march 1987 (p. ..... (1987) 168 itr 773 (guj), wherein it was observed that it is clear that the purpose of the legislature in introducing the legal fiction is to give the benefit of the unabsorbed depreciation in the following previous year .....
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