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The Additional Commissioner of Income-tax Vs. Joginder Singh

Court : Delhi

Reported in : (1984)40CTR(Del)285

..... the finance act of 1968 amended the quantum of, penalty ..... look at the above decision will show that it supports the line of reasoning we have discussed earlier in that case, technically speaking, the return filed on 22-11-1967 would appear to have been a revised return under section 139(5) as it only purported to revised the figure of income already shown and if the line of reasoning that, in all cases of proper revised returns, the revised return should be taken as the basis for ..... finance act of 1964 deleted the word 'deliberately' in section ..... [1982]137itr722(cal) which suggest that even where a amended return is filed which discloses income concealed in the earlier return, such amended return will be a revised return under section 22(3) of the 1922 act[139(5)of the 1961 act and cannot be ignored by the officer in completing the ..... again, if it be postulated that it will be left to the income-tax officer to levy the penalty either with reference to the original return or with reference to the return under section 148, that will leave the officer with an unguided and arbitrary discretion to choose the date of the 'offence' which he would like to penalise, a discretion which he will perhaps always, naturally, ..... a direct reference was made by the tribunal to the supreme court on the question as to whether the tribunal was, in law, right in sustaining the penalty by applying the provisions of section 271(1)(c)(iii) of the income-tax act, 1961, as amended with effect from april 1, 1968. .....

Commissioner of Income-tax Vs. Geo Sea Foods

Court : Kerala

Reported in : [2000]244ITR44(Ker)

..... an explanation was inserted at the end of sub-section (1) of section 271 by the said finance act (section 40 of the finance act, 1964). ..... , the word 'deliberately' existed which was omitted by the finance act, 1964, with effect from april 1, 1964. ..... a conspectus of the explanation added by the finance act, 1964, and the subsequent substituted explanations, makes it clear that the statute visualised the assessment proceeding's and penalty proceedings to be wholly distinct and independent of each ..... in support of the application, learned counsel for the revenue submitted that the approach of the third member, who held that penalty could not be imposed under section 271(1)(c) of the act, proceeded with reference to the position as existing prior to the amendment of section 271(1)(c) of the act. ..... are three stages of amendment of section 271(1)(c). ..... subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). ..... the effect of the amendment with effect from april 1, 1976, is that a deeming provision was ..... the effect of thesaid amendment, so far as we are concerned, is that where, in respect of facts material to the computation of the total income of the assessee, he furnishes no explanation, or he cannot substantiate the explanation offered by him, or the explanation offered by him is found to be false, ..... amendment has been made to the said provision with effect from april 1, 1976, and a deeming provision has been introduced.7. .....

Short Brothers (P.) Ltd. Vs. First Income-tax Officer, Salem.

Court : Chennai

Reported in : [1964]51ITR315(Mad)

..... there is thus intrinsic evidence to show that accumulated profits could not include the current profits during the year under assessment.after the amendment by the finance act of 1955, the above definition was replaced by the following :'(c) any distribution made to the shareholders of a company out of accumulated profits of the company on ..... sub-clause (c) of section 2 (6a) was submitted by section 3 of the finance act of 1956 with effect from ..... such interpretation cannot to our mind fit in with the plain terms of the explanation.section 12b of the act deals with capital gains and it states that tax under the head 'capital gains' shall be payable in respect of any profit or gains arising from the sale of a capital asset effected after ..... to be of accumulated profits, and if that is so, current profits which arose to the company during the accounting year up to the date of liquidation must necessarily form part of the accumulated profits referred to in the section.the next part of the contention of the petitioner hinges upon the explanation ..... 'finally, they held that accumulated profits sought to be caught by section 2 (6a) (c) would be profits accumulated in the financial years preceding the year in which the liquidation took place.it is this observation of the supreme court that ..... the income-tax officer to examine the question afresh and determine what should be regarded as the correct amount of dividend within the meaning of section 2 (6a) (c) in the light of the above observations. .....

Commissioner of Income-tax Vs. Bimal Auto Agency

Court : Guwahati

Reported in : (2009)226CTR(Gau)573,[2009]314ITR191(Gauhati)

..... , november 21, 2000, would govern the instant matter and the amendment of section 158bb brought about by the finance act of 2002, though with retrospective effect from july 1, 1995, will not apply to the present case ..... from the central board of direct taxes circular in question, it is, therefore, clear that the amendment of section 158bb brought about by the finance act of 2002 is merely clarificatory. ..... in the present case, the assessment of undisclosed income in so far as the building is concerned cannot also be justified on the basis of section 158bb of the act, as it stood prior to its amendment by the finance act of 2002. ..... saraf has submitted that the amendment of section 158bb made by the finance act of 2002 is merely clarificatory. ..... relying on the provisions of section 158bb, prior to its amendment by the finance act of 2002, shri bhuyan has submitted that the materials relied upon by the assessing officer in making the assessment of undisclosed income need not be connected with the materials found in the course of the search and ..... learned counsel has pointed out that in the aforesaid circular issued by the central board of direct taxes it has been mentioned that the amendment to section 158bb had been necessitated by the views of certain appellate authorities under the act to the effect that income which can be included in block assessment is only such income which is directly evidenced by materials found during the search and does not include income which has been discovered on .....

Rana Rubber Industries Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1987)(32)ELT433TriDel

..... (v) next plea of the learned consultant is that in any case the penalty is unwarranted in the facts and circumstances of the case and section 47(2) of the finance act, 1982 lays down that the said amendment under section 4 could not make an offence retrospective. ..... an amendment of section 4 by the finance act, 1982 inserted an explanation to the effect that the duty actually payable by an assessee to the department alone would be deductible from the price of the goods charged by it from its customers ..... the insertion of amendment by finance act, 1982. ..... , there is no question of retrospectivity of offence in the instant case and the offence of the appellant here does not merely relate to the amendment to section 4 of the central excises and salt act; but also to other factors such as suppression of facts about correct valuation of goods and the two units being under the identical partnership. ..... amendment made by the finance act, 1982 giving retrospective effect from 1-10-1975 would prevail and the judgment of orissa high court mentioned supra would have no applicability here in the instant ..... 'person' has been defined in section 3(42) of the general-clauses act as including "any company or association or body of individuals, whether incorporated or not ..... & others has held that while it is true that "under the law of partnership each partner is an agent of all others, the partnership itself is a person distinct from the partners in terms of section 3(42) of the general clauses act, 1897. .....

Precot Mills Ltd. Vs. the Commissioner of Central

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

Reported in : (2006)3STR538

..... cce that service tax - recovery - non-resident/person out side india providing service in india - tax cannot be recovered from service receiver in india as same person cannot be both client and agent, and amendment to rule 2 of service tax rules, 1994 by insertion of clause (iv) for payment of tax by service receiver in india had only prospective effect - section 68 of finance act, 1994. ..... (vii) the levy of penalty under section 76 & 77 of finance act is untenable since the issue involves interpretation of the act and rules. ..... , one giving advice and other accepting it, were absent, and in such a case, demand was not sustainable - section 65 (31) of finance act, 1994.bajaj auto ltd. v. ..... (i) as per section 65 of the finance act, 1994, taxable service means, any service provided to a client by a management consultant in connection with the management of any organization in any manner. ..... (iii) for service tax to be leviable, the provider and the client of management consultancy services need to be two separate legal entity as construed from section 65(72) of the act which is not the situation in the instant case. ..... , coimbatore is integrated and consolidated and single profit and lose/balance sheet is prepared annually for necessary statutory compliance under the companies act/income tax act, etc. ..... it is well settled that no penalty is impossible on issue involving interpretation of the act and rules. .....

Gujarat Narmada Valley Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1982)2ITD515(Ahd.)

..... prejudice to the above, even assuming that the tax was deductible on the remittance, the ito erred in directing deduction of tax at the rate of 40 per cent instead of 20 per cent prescribed in section 2(b)(iii)(b)(1) of part ii of the first schedule to the finance act, 1979. ..... raised before us that the assessee is entitled to deduct tax in the light of the provisions of first schedule, part ii, item 2(b)(m)()(7) of the finance act, 1979, at the rate of 20 per cent and not any higher rate. ..... determine, by general or special order, the appropriate proportion of such sum so chargeable, and upon such determination, tax shall be deducted under sub-section (1) only on the proportion of the sum which is so chargeable.under section 195(1) a person responsible for paying to a non-resident 'any other sum' chargeable under the provisions of the act, is bound to deduct income-tax at the rates in force unless he himself is liable to pay tax thereon as an agent of the non ..... according to the provisions of the finance act, where an agreement was made after 31-3-1976 the tax is to be deducted at 20 per cent on so much of the amount of such income as consists of lump sum consideration for the transfer outside india of, or the imparting of ..... on this basis, the assessee requested the ito to pass orders under section 195(2) of the income-tax act, 1961 ('the act'), and to issue a no-objection certificate in order to enable them to remit the amounts to linde under the agreement as and when payable without .....

Pati Durga Cold Storage Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1986)18ITD132(Kol.)

..... ) has been whether a cold storage is an 'industrial company' as defined in section 2(1)(d) of the finance acts of 1966 and 1967. ..... (supra) also related to the expression 'industrial company' under section 2(6)(d) of the finance act, 1968. ..... 's case (supra) deals with the word 'power' as used in clause (g) of section 2 of the finance act. ..... however, the commissioner observed that processing did not amount to manufacture and so those two decisions which were concerned with the language used in the definition of an 'industrial company' under the finance acts, were not of any help to the present assessee. ..... several dictionaries to which we have referred, it appears to us, that in the context of the present statute, which has used the expression 'processing' in contradistinction or differently from the expression 'manufacture' the assessce-company was engaged in the act of processing the goods in terms of the finance act at the relevant time. . . . (p. ..... accordingly, the president constituted this special bench under section 255(3) of the act in order to decide the following point : whether, on the facts and in the circumstances of the case, the investment allowance under section 32a of the income-tax act, 1961, could be allowed to a cold storage 5. dr. ..... this appeal has been filed by the assessee against the order dated 31-12-1981 of the commissioner passed under section 263 of the income-tax act, 1961 ('the act') relating to the assessment year 1980-81.2. .....

Ms Vijeta Projects and Infrastructures Limited Through Its Managing Di ...

Court : Jharkhand

..... we are also satisfied that the commercial taxes department should be directed to invoke section 25 a(6) of the bihar finance act and to take appropriate proceedings against those who had deducted the tax at source and who had not deposited the same into the treasury in compliance with rules 26 a of the ..... a long way in avoiding delay in refunding the amount due to an assessee and prevent the running of interest in terms of section 43 of the bihar finance act, thereby leading to a saving for the government. ..... on the scheme of section 43 of the bihar finance act, clearly, the petitioner is entitled to get interest on the amount refunded to him on 22.2.2003 at 9% per annum from ..... implementation of these provisions would go a long way in saving the exchequer from incurring of liability for interest and would enable the department to make refunds within the time contemplated by section 43 of the bihar finance act. 7. ..... affidavit filed by the respondents state especially paragraph 15 and 16 thereof, the excess amount deducted by the state towards tds under section 44 of the jharkhand value added tax act, 2005 was indicated to be refunded after verification and completion of assessment proceeding. ..... and, therefore, it should have been refunded within a period of six months from the date of the application for refund and if the said amount is not paid within six months as per section 55 of the jharkhand value added tax act, 2005, this petitioner is entitled to simple interest @ 6% per annum.6. .....

Commissioner of Income Tax, Jalpaiguri Vs. Om Prakash Mittal

Court : Supreme Court of India

Reported in : (2005)194CTR(SC)97; 2005(184)ELT3(SC); [2005]273ITR326(SC); JT2005(2)SC538; (2005)3MLJ48(SC); (2005)2SCC751

..... complexity of the investigation involved therein, the settlement commission may, by order, allow the application to be proceeded with or reject the application : provided that an application shall not be rejected under this sub-section unless an opportunity has been given to the applicant of being heard :provided further that the commissioner shall furnish the report within a period of forty-five days of the receipt of communication from the ..... the income disclosed in the application as if such aggregate were the total income;(iii) if the proceeding pending before the income-tax authority is in the nature of a proceeding for reassessment of the applicant under section 147 or by way of appeal or revision in connection with such reassessment, and the applicant has not furnished a return in respect of the total income of that year in the course of such proceeding for ..... section (2) is of vital importance and provides that where an application made under section 245c has been allowed to be proceeded with under section 245d, the commission shall until an order is passed under sub-section (4) of section 245d, subject to the provisions of sub-section (3) of that section have exclusive jurisdiction to exercise the powers and perform the functions of the income-tax authority under the act ..... in the earlier proviso has been substituted by the expression 'one hundred thousand rupees' by the finance act, 1995 w.e.f. ..... by the taxation laws (amendment) act, 1975 (in short the 'amendment act') w.e.f. .....