Judgment Search Results Home > Cases Phrase: finance no 2 act 1991 section 3 to 72 income tax Court: patna Page 1 of about 52 results (0.149 seconds)

Bhagwan Singh and Others Vs. Union of India and Others.

Court : Patna

..... , has fairly conceded that in view of the definition of "seller" refereed to above, if the status of the wholesaler for the purpose of the income-tax act is that of "individual" or "hindu undivided family" or "association of persons" then such wholesaler cannot collect any amount as income-tax under section 206c of the act.accordingly, in view of the assertions made by the petitioner in the writ application, the submission of the parties at the bar and the relevant statutory provisions, we are of ..... is an assessee before the income-tax authorities, the licensee being an individual, he would not come within the purview of the definition of seller and this case would also be squarely covered by the decision of this court in raghunath prasads case [1993] 2 blj 152.it was further submitted that in some cases, applications for amendment of the writ applications have been filed questioning the vires of section 206c as amended by the bihar finance act, 1992. ..... prakash ram gupta : [1969]72itr366(patna) , it has been held as follows :"it is contended by learned counsel for the commissioner of income-tax that the formation of the partnership in question amounted to a transfer of the privilege given to sri prakash ram gupta under section 22 of the excise act, that is to say, the excise licence, and, secondly, the business of the two shops mentioned in the partnership deed having been transferred by sri prakash ram gupta to the ..... 5685 of 1991 (haroon ..... 7817 of 1991) [1993] 2 blj 152, (see madhan .....

Bhagwan Singh and ors. Vs. Union of India (Uoi) and ors.

Court : Patna

..... , has fairly conceded that in view of the definition of 'seller' referred to above, if the status of the wholesaler for the purpose of the income-tax act is that of 'individual' or 'hindu undivided family' or 'association of persons' then such wholesaler cannot collect any amount as income-tax under section 206c of the act.accordingly, in view of the assertions made by the petitioner in the writ application, the submission of the parties at the bar and the relevant statutory provisions, we are of the opinion that ..... prakash ram gupta : [1969]72itr366(patna) , it has been held as follows : 'it is contended by learned counsel for the commissioner of income-tax that the formation of the partnership in question amounted to a transfer of the privilege given to sri prakash ram gupta under section 22 of the excise act, that is to say, the excise licence, and, secondly, the business of the two shops mentioned in the partnership deed having been transferred by sri prakash ram gupta to the firm, there has ..... the finance act, 1992, has deleted section 44ac and sub-section (1) to section 206c has been substituted by a new sub-section;the present set of cases are governed by the provisions as they existed till 31st march, 1992. ..... 5685 of 1991 (haroon rashid v. ..... 7817 of 1991) [1993] 2 blj 152, (see madhan mohan gupta v. .....

Mukesh Kumar and ors. Vs. Commissioner of Income-tax and ors.

Court : Patna

..... single judge of the delhi high court held as follows (page 229) : 'keeping in mind the aforesaid provisions contained in sections 245d, 245f(2), 245h and 245i of the act when the settlement commission, after dealing with the objections of the commissioner of income-tax raised under sub-section (1a) of section 245d, is not satisfied with the correctness of the same and dismisses the same on the basis of the material available at that ..... was likely to be established for the assessment year 1980-81 and the order of settlement yet to be passed by it under sub-section (4) of section 245d, during which period the verdict of 'no concealment of income' having been given by the settlement commission against the commissioner of income-tax rendered the present complaint against the petitioner bereft of any substratum necessary for prosecution of the petitioner, and the suggestion emanating from learned ..... by the finance act, 1987, ..... behalf of the petitioners that the petitioners have filed the application under section 245c of the act before the settlement commission, additional bench, calcutta, which was received by it on september 16, 1991, i.e. ..... section 245c of the act for settlement of her case and an objection was raised by the commissioner under section 245d(1a) of the act, which has now been omitted with effect from september 27, 1991 ..... 2) bill, 1991, receives the assent of the president and if the commissioner fails to furnish the report within the said period, the settlement commission .....

Eureka Forbes Ltd. Vs. State of Bihar and ors.

Court : Patna

..... madanlal [1984] 56 stc 273 took into note the old provisions of section 18(1) of the bihar sales tax act, 1959, which is same and similar to new section 19(1) of the bihar finance act, 1981, having compared with section 18(1) of the bihar sales tax act, 1959 with that of section 147 of the income-tax act, 1961, the full bench held that the word 'information' in both the provisions of section 18(1) of the bihar sales tax act, 1959 and section 147 of the income-tax act, 1961 have same and similar meaning for the ..... cannot constitute an information, as enumerated under section 19(1) of the bihar finance act, 1981 and on that basis, no proceeding for reassessment can be initiated ;(ii) there is no new material on the record to make reassessment in terms with section 19(1) of the act aforesaid ;(iii) mere change of opinion, as has been made by the audit party and/or by the deputy commissioner, commercial taxes, jamshedpur, cannot be a basis for reassessment in terms with section 19(1) of the aforesaid act ; and(iv) after 6th of august, 1991 (issuance of annexure 4) the power relating .....

Parikh Engineering and Body Building Co. Ltd. and anr. Vs. Union of In ...

Court : Patna

..... the petitioners, has contended that after notice under section 143(2) of the act has been issued, and much less after regular assessment order under section 143(3) has been passed, it is not open to the assessing officer to make adjustment or to pass any order under section 143(1)(a) of the act ; more so, when the regular assessment order under section 143(3) has been passed in the light of the appellate order of the income-tax appellate tribunal or the commissioner of income-tax (appeals). dr. ..... the amount was, however, taxed in view of the provisions of section 28 of the act as amended by the finance act, 1990 (with effect from april 1, 1967), and accordingly the intimation was issued. ..... with the avowed object of bringing zero-tax prosperous companies within the taxable net, section 115j was enacted by the finance act, 1987. ..... by the finance act, 1989, the words 'prepared in accordance with the provisions of parts ii and iii of the sixth schedule to the companies act, 1956 (1 of 1956)' occurring in the explanation were deleted and substituted by the words 'prepared under sub-section (1a)', and new sub-section (1a) was inserted as follows : '(1a) every assessee, being a company, shall for the purposes of this section prepare its profit and loss account for the relevant previous year in accordance with the provisions ..... by the finance act, 1990, the words 'but before the 1st day of april, 1991' were inserted after the words 'the 1st day of april, 1988' in sub-section (1). .....

Mukesh Kumar and ors. Vs. Commissioner of Income Tax and ors.

Court : Patna

..... (3) of that section, exclusive jurisdiction to exercise the powers and perform the functions of an income-tax authority under this act in relation to the ..... the additional amount of income-tax payable on such income and such other particulars as may be prescribed, to the settlement commission to have the case settled and any such application shall be disposed of in the manner hereinafter provided :provided that no such application shall be made unless, -(a) the assessee has furnished the return of income which he is or was required to furnish under any of the provisions of this act; and(b) the additional amount of income-tax payable on the income disclosed in the application ..... case or the 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 cit shall furnish the report within a period of one hundred and twenty days of the receipt of communication from the ..... omitted by the finance act, 1987, w.e.f ..... of the act before the settlement commission, additional bench, calcutta, which was received by it on 16th september, 1991, i.e. ..... 2) bill, 1991, receives the assent of the president and if the cit fails to furnish the report within the said period, the settlement commission may make the order without such ..... september, 1991. .....

J.B. Associates (P) Ltd. a Company Registered Under the Companies Act ...

Court : Patna

..... this appeal under section 260a of the income tax act has been filed on behalf of the assessee-appellant, and is directed against the order dated 31.01.2002 (annexure-1), passed by the income tax appellate tribunal, patna bench, patna, in i.t. (s.s.) a. no ..... joint commissioner of income-tax, wherein it has been held that the conditions mentioned in section 260a has to be strictly fulfilled before an appeal would be maintained and that an appeal under the said provision can only be in respect of a substantial question of ..... (4) the appeal shall be heard only on the question so formulated, and respondents shall, at the hearing of the appeal, be allowed to argue that the case does not involve such question:provided that nothing in this sub-section shall be deemed to take away or abridge the power of the court to hear, for reasons to be recorded, the appeal on any other substantial question of law not formulated by it, if it is satisfied that the case involves such ..... was held that the finding of fact of the appellate tribunal cannot be disturbed by the high court in exercise of powers under section 260a.11.1) the position has been reiterated in the judgment of the apex court in the case of commissioner of income tax v. p. ..... was issued by shri bijoy kumar goenka who also issued confirmation letter on behalf of the m/s goenka business & finance ltd and m/s vishist vyapar private ltd.12.2. ..... jain relied upon judgments reported in : (1991) 192 itr 287 (delhi), (commissioner of income-tax v. .....

Rajendra Prasad and Co. Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (1995)52ITD142(Pat.)

..... 143(1)(a)(i) is not an `order' within the meaning of section 263 and is hence not revisable.the word "intimation" has been used for the first time in the income tax act by virtue of the amendment to the scheme of assessments with effect from 1-4-1989. ..... with a view to rectifying any mistake apparent from record, an income-tax authority referred to in section 16 may,- (b) amend any intimation sent by it under sub-section (1) of section 143, or enhance or reduce the amount of refund granted by it under that sub-section.7. ..... 14-5-1992 which is reproduced below :- provided that the assessing officer shall make an amendment for rectifying any mistake, which has been brought to his notice by the assessee in relation to an intimation referred to in clause (b) of sub-section (1), within a period of three months from the end of the month in which it is so brought to his notice and if no such amendment is made within the said period of three months, the assessee may appeal to the deputy commissioner ( ..... the word "intimation" has been used for the first time in the income-tax act by virtue of the amendment to the scheme of assessments w.e.f. ..... our attention was then invited to the proviso below section 154(2) inserted by the finance act, 1992 w.e.f. ..... 2) act, 1991 w.e.f. ..... 1 -10-1991 which is reproduced below :- explanation. .....

industrial Packers and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (1995)52ITD1(Pat.)

..... the due date for filing the return of income under section 139(1) of the income-tax act, 1961 was 30-6-1986 and it is an admitted position that the above outstanding amounts were paid after 30-6-1986.the assessee is, therefore, not saved by the first proviso below section 43b of the act, even if the first proviso is treated as clarificatory and operative from 1-4-1984, as held by the patna high court in the case of jamshedpur motor accessories stores ..... 319 under section 43b of the income-tax act, 1961.2 ..... patna high court has held in the case of jamshedpur motor accessories stores (supra) that the first proviso below section 43b is clarificatory and operative from assessment year 1984-85 retrospectively although the proviso was inserted by the finance act, 1987 w.e.f. ..... counsel for the assessee conceded fairly that section 43b had been inserted by the finance act, 1983 with effect from 1-4-1984, but since section 29 was amended only with effect from 1-4-1989 to include section 43b, the only conclusion to be drawn was that section 43b could not be invoked for assessment year 1986 ..... of india [1991] 189 itr 70, while considering an amendment of section 43b, that the rule of reasonable construction should be followed and literal construction may be avoided if that defects the manifest object and purpose of the act. ..... act, 1991 retrospectively ..... 2) act, 1991 made itself applicable retrospectively from 1-4-1987 only and not 1-4- ..... union of india [1991] 189 itr 70 ..... union of india [1991] 189 itr .....

Kandra Glass House and Baba Glass and Crockeries House Vs. Commissione ...

Court : Patna

..... the taxes were not paid during the accounting period, the ao disallowed the claim considering it to be trading receipt and relying on the provisions of section 43b of the it act (hereinafter referred to as 'the act') added the same in their total income. ..... sales-tax and central sales-tax, if actually paid by it on or before the due date applicable to it for furnishing its return of income under sub-section (1) of section 139 ..... 2 inserted by the finance act, 1989, with retrospective effect from 1st april, ..... that view of the matter, we are of the opinion that tribunal was not correct in confirming the addition of sales-tax collected in the last quarter of the accounting year when it was paid before the due date applicable for furnishing the return.8 ..... 2 inserted by the finance act, 1989, hence answer to the second question is also in negative, against the revenue and in favour of the ..... on appeal it was deleted on the ground that the sales-tax collected for the month of may and june were not statutorily payable during the accounting year ending on 19th june, 1985, under the provisions of the bihar sales-tax act but paid after close of the accounting year within statutory period. ..... special leave petition from this decision of the patna high court was dismissed [see (1991) 191 itr 8]. ..... points out that the judgment of this court in the case of jamshedpur motor accessories stores (supra) has been affirmed by the supreme court in (1991) 191 itr 8. ..... : [1991]189itr70(patna) ..... : [1991]189itr70(patna) .....