Court : Allahabad
Reported in : (1998)147CTR(All)418; [1997]226ITR475(All); [1997]92TAXMAN514(All)
..... to the provisions of the act and the finance act, 1977, the sum of rs. ..... after the passing of the finance act and pays self-assessment tax under section 140a of the act, such taxes are, on the own admission of the assessee, amounts properly chargeable under the act for that year and they cannot lose that character of being the amount with which he is properly chargeable under the act simply because an assessment is ..... that an assessee has paid, admitting the same to be the amount properly chargeable from him for a particular year, represent the legal liability under the act of the assessee until an assessment under section 143 is made and he can get a refund only if, as provided in section 237, he satisfies ..... under section 139 or section 148, after taking into account the amount of tax, if any, already paid under any provision of this act, the assessee shall be liable to pay such tax together with interest payable under any provision of the act for any delay in furnishing the return or for any default or delay in payment of advance tax, before furnishing the return and the ..... india the petitioner seeks quashing of a notice issued under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the assessment year 1977-78 and a direction to refund to the petitioner the entire taxes deposited by it for the assessment year 1977-78 with interest. 2. ..... old assessee under the act, filed the return of income for the assessment year 1977-78 declaring an income of .....
Tag this Judgment!Court : Allahabad
Reported in : (2007)213CTR(All)77
..... counsel for the revenue submitted that section 54e of the act was brought on the statute book by finance (2) act, 1977, w.e.f. ..... ) 141 ctr 67 (sc) : air 1997 sc 2523 while interpreting the provisions under section 22 of the act has held that amendment introduced to section 27 of the act by the finance act, 1987 by substituting els. ..... though sub-section (5) was inserted by the finance act, 1987 w.e.f. ..... which was inserted by finance act, 1987 w.e.f. ..... not disputed that the respondent have invested the amount in specified assets within the period provided under section 54e of the act and, therefore, the applicability of section 54e is to be judged from the date when capital gains had arisen.8. ..... our anxious consideration to the various pleas raised by the learned counsel for the parties, we find that section 45 of the act deals with various situations when capital gains can be said to have arisen. ..... the present appeal filed under section 260a of the it act, 1961 by the revenue has been admitted by this court vide ..... invested the amount within six months as contemplated under section 54e of the act, the tribunal had rightly allowed the benefit. ..... on the following substantial questions of law:(1) whether on the facts and in the circumstances of the case, the tribunal was justified in allowing the assessee deduction under section 54e read with section 54h of the it act, 1961 for purchase of capital gains units for rs. ..... 1991 passed under section 143(3)/251 of the act, whereas the cit(a) vide his order .....
Tag this Judgment!Court : Allahabad
Reported in : (1987)62CTR(All)211; [1987]166ITR643(All); [1987]32TAXMAN35(All)
..... in this case, the division bench held that the term ' processing of goods ' as used in section 2(7)(d) of the finance act need not be of such a nature as to result in the manufacture of goods. ..... at the instance of the revenue, the following question has been referred under section 27(1) of the wealth-tax act, 1957 :' whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that the firm in which the assessee was a partner was an industrial undertaking within the meaning of the explanation to section 5(1)(xxxi) of the wealth-tax act, 1957, and was entitled to exemption under section 5(1)(xxxii) of the wealth-tax ..... 96,006, the assessee claimed exemption under section 5(1)(xxxii) of the wealth-tax act on the ground that the firm, m/s. ..... : [1977]107itr816(all) . ..... the controversy, therefore, is whether the assessee was entitled to the benefit of section 5(1)(xxxii) of the wealth-tax act. ..... contention of the assessee and, by finding that the appellant is a partner of the firm which was engaged in manufacturing and processing, held that the assessee was entitled to exemption under section 5(1)(xxxii) of the wealth-tax act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1988)24ITD488(All.)
..... -tax officer in relation to any area, or persons or classes of persons, or incomes or classes of incomes, or cases or classes of cases, references in this act or in any rule made thereunder to the income-tax officer shall be construed as references to the inspecting assistant commissioner and any provision of this act requiring approval or sanction of the inspecting assistant commissioner shall not apply.when the above clauses were introduced simultaneously, amendments were made in section ..... by general or special order in writing, direct that all or any of the powers or functions conferred on, or assigned to, the income-tax officer or income-tax officers by or under this act in respect of any area, or persons or classes of persons, or incomes or classes of income, or cases or classes of cases, shall be exercised or performed concurrently by the inspecting ..... the first question is concerned, it has to be noted that sub-section (4) of section 125a of the act provides that where the inspecting assistant commissioner exercises the powers or performs the functions of an income-tax officer, in pursuance of an order made by the commissioner of income-tax under sub-section (1) of section 125a of the act, reference in the act or in any rule made thereunder to the income-tax officer, shall be construed as reference to the inspecting assistant ..... 2) act, 1977 effective from 10th july, 1977.the provisions contained in clause (1) and clause (4) of this ..... the statute book by means of finance (no. .....
Tag this Judgment!Court : Allahabad
Reported in : (2004)188CTR(All)361; [2004]266ITR453(All)
..... 68b of the second schedule to the income-tax act is not applicable to the facts of the present case because it was inserted by the finance act, 1992, with effect from june 1, 1992. ..... rule 68b which was inserted by the finance act, 1992, with effect from june 1, 1992, states :'time-limit for sale ..... and final either by an order of the settlement commission under section 245-i or by any order of the appellate authority or revising authority under section 246 254(1) or 263/264 of the income-tax act giving rise to the demands for which the recovery proceedings were initiated in the year 1972 itself when one of the writ petitions was filed. ..... the finance act, 1992, was not retrospective and hence, in our opinion, will not apply to the impugned recoveries as they were in respect of the earlier assessment years in respect of which the assessment and ..... the present case, the orders were in respect of the assessment years 1942-43 to 1977-78 for which the recovery certificate was issued on march 21, 1982, as admitted ..... admittedly, the recoveries in question pertain to the assessment years 1942-43 to 1977-78 and the same were pressed from time to time in accordance with law, but the petitioner succeeded in avoiding the same by one way or another as is evident from the order of the ..... the recoveries for the assessment years 1942-43 to 1977-78 are being made as the amounts have not been paid ..... affidavit that the present recovery is in respect of the demand for the assessment years 1942-43 to 1977-78.12. .....
Tag this Judgment!Court : Allahabad
Reported in : (2006)200CTR(All)196; [2005]277ITR285(All)
..... has placed no further material on record in the penalty proceedings before any of the authorities below, the onus which lay on him by virtue of the explanation to section 271(1)(c) of the act has not been discharged and the presumption raised against the applicant by the said explanation would remain, namely, that the difference between the assessed income and the returned income had arisen ..... may be mentioned here that by section 40 of the finance act, 1964 the word 'deliberately' occurring in clause (c) of section 271(1) of the act has been omitted and the following explanation was inserted at ..... in the case of kishan singh chand : [1977]106itr534(all) , this court has held that the explanation to section 271(1)(c) of the act does not apply to all the cases of suspected concealment but applies only where the ..... in the case of nawab and brothers : [1977]107itr681(all) this court has held that where the books were rejected for not maintaining day-to-day stock register and the correct income was determined ..... : [1977]106itr532(all) this court has held that where the tribunal has found that the provisions of section 271(1)(c) of the act could not be attracted in the case because the enhancement could not be said to be due to fraud or ..... : [1977]107itr681(all ..... : [1977]106itr534(all ..... mangal sain : [1977]107itr598(all) , this court has held that where the assessee had not maintained the books of account regularly and were rejected and the correct income was estimated ..... [1977]107itr598 ..... [1977]106itr532 .....
Tag this Judgment!Court : Allahabad
Reported in : (2005)197CTR(All)129
..... 1977]107itr816(all) , had held that in a cold storage processing is involved and, therefore, it is an industrial undertaking within the meaning of section 2(7)(d) of the finance act, 1966 and 1967 which provisions are similar to the provisions of section 32a of the act ..... 1976-77, this court had already taken the view that in cold storage processing of potato takes place and it is an industrial undertaking within the meaning of section 2(7)(d) of the finance act, 1966 and 1967 which corresponds o the provisions of section 32a of the act. ..... the learned standing counsel submitted that even though at that point of time when the proceeding under section 154 of the act was initiated by the assessing officer, there was a conflict of opinion between various high courts but as the matter had been set at rest in the case of delhi ..... the power of the commissioner under section 263 of the income tax act must be exercised on the basis of the material that was available to him when ..... conflicting opinion by various high courts, the tribunal had held that as he issue was debatable, the order under section 154 of the act could lot have been passed as there was no mistake apparent on record.3. ..... overruled by the apex court or a contrary view is expressed by the apex court, the investment allowance already allowed on plant and machinery installed in a cold storage cannot be withdrawn by invoking the provisions of section 154 of the act as it cannot be said that any error apparent on the record existed.9. .....
Tag this Judgment!Court : Allahabad
Reported in : [2005]147TAXMAN90(All)
..... 1977]107itr816(all) , had held that in a cold storage processing is involved and, therefore, it is an industrial undertaking within the meaning of section 2(7)(d) of the finance act, 1966 and 1967 which provisions are similar to the provisions of section 32a of the act ..... -77, this court had already taken the view that in cold storage processing of potato takes place and it is an industrial undertaking within the meaning of section 2(7)(a) of the finance act, 1966 and 1967 which corresponds to the provisions of section 32a of the act. ..... the learned standing counsel submitted that even though at that point of time when the proceeding under section 154 of the act was initiated by the assessing officer, there was a conflict of opinion between various high courts but as the matter had been set at rest in the case of delhi cold ..... the power of the commissioner under section 263 of the income tax act must be exercised on the basis of the material that was available to him when ..... conflicting opinion by various high courts, the tribunal had held that as the issue was debatable, the order under section 154 of the act could not have been passed as there was no mistake apparent on record.4. ..... overruled by the apex court or a contrary view is expressed by the apex court, the investment allowance already allowed on plant and machinery installed in a cold storage cannot be withdrawn by invoking the provisions of section 154 of the act as it cannot be said that any error apparent on the record existed.9. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1983)5ITD340(All.)
..... by the ito and in the assessment year 1973-74 as the ito included half share of the huf in the said three firms in the total income of the assessee by invoking the provisions of section 64(2) of the income-tax act, 1961 ('the act')- similarly, in respect of the assessment years 1974-75 and 1975-76, the ito included half share of the huf in the said three firms in the total income of the assessee. ..... according to him the amendment made by the finance act was by way of clarification only.7. ..... [1975] 99 itr 118, has made the following observation, which clearly supports the assessee's case : from the charging provisions of the act, it is discernible that the words 'income' or 'profits and gains' should be understood as including losses also, so that, in one sense 'profits and gains' represent 'plus income' whereas losses represent 'minus income'. ..... in support of his submission, the learned representative for the department invited our attention to explanation 2 to section 64(2) which was inserted with effect from 1-4-1980 by the finance act, 1979. ..... the learned representative for the department, therefore, submitted that since we are dealing with the assessment year 1977-78, the assessee is not entitled to get the benefit of the said explanation. ..... the assessment year is 1977-78 and the relevant previous year ended on 31-3-1977.3. ..... secondly, it must be 'computed in the manner laid down in the act'. .....
Tag this Judgment!Court : Allahabad
Reported in : (1985)45CTR(All)92; [1986]157ITR620(All)
..... raising the following identical question, the revenue has made these applications under section 256(2) of the income-tax act, 1961 (for short 'the act of 1961 '), relating to the consecutive assessment years 1975-76 to 1977-78:' whether, on the facts and in the circumstances of the case, the tribunal was legally correct in excluding the share income from m/s. ..... the order passed under section 171 of the act of 1961 was appealed against by the assessee-hindu undivided family and its contention was accepted by the commissioner of income-tax (appeals). ..... jyoti finance corporation, shamli, could not be included in the hands of the assessee-hindu undivided family. ..... jyoti finance corporation, shamli, prior to the date of partial partition. ..... jyoti finance corporation, shamli, in view of the decision of the commissioner of income-tax (appeals), meerut, for the assessment year 1974-75 '2. .....
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