Court : Punjab and Haryana
Reported in : (2003)184CTR(P& H)57; [2003]262ITR78(P& H)
..... this scheme, where any person makes, on or after the 1st day of september, 1998, but on or before the 31st day of december, 1998, a declaration to the designated authority in accordance with the provisions of section 89 in respect of tax arrear, then, notwithstanding anything contained in any direct tax enactment or indirect tax enactment or any other provision of any law for the time being in force, the amount payable under this scheme by ..... credit of duty or any amount representing duty), cesses, interest, fine or penalty determined as due or payable under that enactment as on the 31st day of march, 1998, but remaining unpaid as on the date of making a declaration under section 88; or (b) the amount of duties (including drawback of duty, credit of duty or any amount representing duty), cesses, interest, fine or penalty which constitutes the subject-matter of a demand notice or a show cause notice issued on ..... act, 1998, and held as under (headnote) :'a person who does not fulfill the basic pre-requisites of the kar vivad samadhan scheme, 1998, cannot claim its benefit merely on the ground that the designated authority has passed an order determining the sum payable in full and final settlement under section 90(1) of the finance ..... further, we may mention that by an amendment made in 1999, the cut off date specified in section 88 was changed from december 31, 1998, ..... where the tax arrear is payable under the expenditure-tax act, 1987 (35 of 1987), -- (i) at the rate of ten per cent. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2005)199CTR(P& H)200
..... this kind of unexpected outcome of section 43b, the first proviso was added in section 43b by the finance act of 1987. ..... was, therefore, added by the finance act, 1989, with retrospective effect from 1st april, 1984, for the purpose of removing any ambiguity about the term 'any sum payable' under clause (a) of section 43b.section 43b, the first proviso to section 43b and expln. ..... [1997]224itr677(sc) , their lordships have interpreted section 43b of the act and laid down the following proposition :'section 43b of the it act, 1961, was inserted w.e.f. ..... finalised the assessment under section 143(3) of the it act, 1961 (for short, 'the act), at income of rs ..... 25,64,340 made under section 43b of it act, 1961, on account of unpaid liability of cst, sales-tax and ..... but for the proviso the ambit of section 43b becomes unduly wide bringing within its scope those payments which were not intended to be prohibited from the category of ..... the proviso makes it clear that the section will not apply in relation to any sum which is actually paid by the assessee in the next accounting year, if it is paid on or before the due date for furnishing the return of income in respect of the previous year, ..... however, 'any sum payable' in clause (a) of section 43b was open to the interpretation that the amount payable in a particular year should also be statutorily payable under the relevant statute in the ..... under section 43b of it act.'3. ..... account of unpaid sales-tax liabilities and under section 43b of the act. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1996)133CTR(P& H)224; [1996]219ITR461(P& H)
..... so, the intention of the board was inconsonance and in terms of the speech made by the finance minister on the floor of the house while introducing the finance act of 1986 that the experiment under chapter xx-a having failed, which had resulted in litigation and harassment, the board decided either not to initiate or to drop the proceedings which were pending where the apparent ..... for the transferee raised another point that during the pendency of proceedings in the high court, chapter xx-a of the act was made inapplicable in relation to transfer of any immovable property after september 30, 1986, and a new chapter xx-c was introduced in the act by the finance act, 1986, with effect from october 1, 1986. ..... asha devi agarwal's case : [1988]169itr400(cal) the calcutta high court took the same view as the delhi high court had taken in rattan chand sood's case : [1987]166itr497(delhi) as rattan chand sood's case : [1987]166itr497(delhi) was not cited before their lordships to hold that the circular was applicable to the proceedings at the initial stage only. ..... in the finance bill of 1986, which ultimately resulted in the deletion of chapter xx-a and the introduction of chapter xx-c in the act, it was proposed that no proceedings under section 269c of the act shall be initiated in respect of the property transferred after september 30, ..... introduced the taxation laws (amendment) bill, 1971, to implement these recommendations of the wanchoo committee by inserting chapter xx-a in the act. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1986]161ITR31(P& H)
..... act, 1965, had to relate to income actually earned by the declarant and the act granted immunity to the declarant alone and not to other persons to whom the income really belonged; (ii) that the finality under section 24(8) of the finance (no ..... act, 1965, which prevented the ito, if he was not satisfied with the explanation of an assessee about the genuineness or source of an amount found credited in his books, in spite of its having already been made the subject of a declaration by the creditor and taxed under the scheme, from investigating the true nature and source of the credits; (iv) that the legal fiction created by section 24(3) of the finance (no ..... whether, on the facts and in the circumstances of the case, the assessee had discharged the onus which lay on it under section 68 of the income-tax act, 1961, to explain the source of the deposits of rs. ..... reading of the aforesaid clearly goes to show that it was open to the revenue to dispute the genuineness of the cash credit appearing in the books of account of the assessee and the finality under section 24(8) of the finance (no. ..... kanhaiyalal's case : [1981]130itr244(sc) , the following guidelines were laid down at page 245 :'held, (i) that the declaration under section 24(2) of the finance (no. ..... revenue sought a reference and the tribunal has referred the following two questions of law for our opinion ;'(1) whether, on the facts and circumstances of the case, and on a true interpretation of section 24 of the finance (no. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2005)198CTR(P& H)507; [2005]276ITR362(P& H)
..... in the aforementioned judgments of the supreme court, we hold that the appellate assistant commissioner committed a grave illegality by setting aside the penalty ignoring the explanation added to section 271(1)(c) vide the finance act, 1964, and the fact that the assessee had failed to discharge the onus which lay upon him to explain cash credits in the name of shri ladha ram. ..... an analysis of the provisions reproduced above shows that the explanation which was added to section 271(1)(c) by the finance act, 1964, creates a legal presumption that where the total income returned by the assessee ..... referred by the tribunal did arise from the order passed by it in the penalty proceedings because the appellate assistant commissioner and the tribunal had not considered the explanation added to section 271(1)(c) by the finance act, 1964.13. ..... of the total income (hereinafter in this explanation referred to as the correct income) as assessed under section 143 or section 144 or section 147 (reduced by the expenditure incurred bona fide by him for the purpose of making or earning any income included in the total income but which has been disallowed as a deduction), such ..... is attracted have to be decided in the light of the law enunciated in the cases of mussadilal ram bharose : [1987]165itr14(sc) and sadayappan : [1990]185itr49(sc) .'11. ..... [1987]165itr14 ..... [1987]165itr14 ..... : [1987]167itr683(ap) and submitted that the question referred by the tribunal cannot be treated as a question of law, .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1991)100CTR(P& H)290; [1991]188ITR550(P& H)
..... all these petitions, the petitioners seek the quashment of the respective complaints and the proceedings resulting therefrom, inter alia, on the ground that, before the amendment of section 194a, vide finance act, 1987, which came into force on june 1, 1987, there was no provision like the present explanation to sub-section (1) of this section making the crediting of any interest to any account, whether called 'interest' payable account' or 'suspense account', would amount to crediting the interest payable ..... mittal, learned counsel for the respondent, on the other hand, stated that the explanation inserted by the finance act of 1987 to sub-section (1) of section 194a simply explains the existing provisions of law and had not created any new offence and that, under the mercantile accounting system, the accused-petitioner was bound to show ..... the explanatory notes on the provisions relating to direct taxes while introducing the finance act, 1987 (see [1987] 168 itr 87). mr. ..... the question then arises as to whether it can be read in the un-amended provisions of section 194a of the income-tax act that the crediting of the interest in the interest payable account would be deemed to be payment to the different depositors and the company would be liable for non-deduction ..... fact, this interpretation cannot be disputed because while introducing the finance bill, 1987, the explanatory note clearly provides that the legislature had filled up a lacuna in the existing provisions of section 194.10. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1999]236ITR281(P& H); (1998)119PLR564
..... under the proviso, as amended by the finance act, 1966, penalty under section 221 as leviable on a defaulter, if the income-tax officer is satisfied that there were no good and sufficient reasons for the failure to deduct or to pay the deducted amount of tax ..... prior to the amendment by the finance act, 1966, the word 'wilfully' existed in the place of the words 'without good and ..... company of which he is the principal officer does not deduct or after deducting fails to pay the tax as required by or under this act, he or it shall, without prejudice to any other consequences which he or it may incur, be deemed to be an assessee in default in respect of the tax : provided that no penalty shall be charged under section 221 from such person, principal officer or company unless the assessing officer is satisfied that such person or principal officer or company, as the ..... result, the writ petition is allowed and the order dated december 15, 1993, passed by the income-tax officer under section 192 read with section 201 of the act and the orders of the commissioner dated october 26, 1995, and june 25, 1996, rejecting the petitioner's applications under sections 264 and 154 of the act are quashed. ..... (1a) without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct or after deducting fails to pay the tax as required by or under this act, he or it shall be liable to pay simple interest at fifteen .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1997]228ITR653(P& H)
..... . as a logical corollary, it has to be held that the provisions of section 206c as amended by the finance act, 1992, are not available to the income-tax department to compel citco to deduct income-tax at source from the ..... was sought to be justified on the basis of the amendment made in section 206c by the finance act, 1992. ..... section 206c(1) as amended by the finance act, 1992 reads as under :' ..... the finance act, 1992, section 44ac was deleted from the act. ..... 's case , another division bench reiterated the view taken in the previous decision and held that the amendment made in section 206c of the act did not empower the deduction of tax at source qua l-14 licensees ..... / l/92-it(b)), dated 20th august, 1992 (see : [1992]197itr170(delhi) ), regarding collection of income-tax at source under section 206c of the income-tax act, 1961, in respect of profits and gains from the business of trading in alcoholic liquor, forest produce, etc ..... division bench analysed the amended section 206c and held (page 206) :'a perusal of the aforesaid amendment of section 206c shows that there was no significant change from the provision as it existed in sections 44ac and 206c before its amendment. ..... an examination of the fundamental provisions governing the grant of l-13 licences clearly showed that the provisions of sections 44ac and 206c of the income-tax act, 1961, were unduly harsh and arbitrary in their application to cases where the transaction was strictly to be carried on in accordance with specific .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1957P& H5; [1956]30ITR500(P& H)
..... it could relate only to an assessment made under the charging section of the patiala act and not to an assessment made under the charging section of the kapurthala act.the indian act, it is argued, cannot apply, for section 13, finance act declares in express terms that the pre-existing state laws were to apply only to the levy, assessment and collection of income-tax in respect of a period ..... ground that when the indian finance act, 1950, declared that all income which had arisen in an indian state prior to 1-4-1950 khali be assessed wholly in accordance with the state laws, it also declared that all matters and proceedings pending under or arising out of the state laws shall be disposed of under those acts by the corresponding authorities under the corresponding indian acts-, section 5(5} of the patiala act provides that 'income-tax officers ..... , without consulting the minister, the appointment must be deemed to be 'ultra vires' the statute and the notice issued by him under section 34 of the patiala act must be deemed to be void and of no effect.the records are silent whether the commissioner of income-tax, punjab, consulted the finance minister of india before asking the income-tax officer, special circle, ambala, to perform the duties which have assigned to him, aid ..... in the present case is, whether the expression 'assessment' appearing in section 13, finance act, 1950, in pursuance of which this notice was issued, is wide enough to cover a re-assessment under section 34.4. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2006)206CTR(P& H)134; [2008]304ITR70(P& H)
..... , but that was by an amendment of section 28 by the finance act of 1990, which amendment could not have been known before finance act came into force. ..... the case are that the assessee filed its return of income, which was processed by the ao under section 143(1)(a) of the it act, 1961 (for short 'the act') and keeping in view the legal position on the subject, undisputed facts and information on record, deduction claimed by the assessee under section 80p(2)(a)(iii) of the act was disallowed.against the order passed by the ao, the assessee went in appeal before the income-tax commr ..... thus, in our opinion, the ao has correctly made the prima facie adjustment under section 143(1)(a) and section 143(1)(a) authorises the ao to make such prima facie adjustment because the claim of the assessee was not allowable on the face of the return on the basis of the amended law and the law as in existence at the time of processing the return was applicable to the ..... not admissible and in fact he very fairly conceded that subsequently order under section 143(3) of the act has also been passed and the amount of tax in fact has been deposited by the assessee, which is not in dispute.all what he contended is that the return filed by the assessee should have been processed under section 143(1)(a) of the act, keeping in view the law as was there on the date when return ..... of argument, counsel for the assessee could not dispute that with the retrospective amendment of section 80p(2)(a)(iii) of the act w.e.f. .....
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