Court : Madhya Pradesh
Reported in : [1990]184ITR186(MP)
..... 2) 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 and that the finality under section 24(8) of the finance (no. ..... 1 on november 17, 1989, issued a notice under section 143(2) of theincome-tax act, 1961, challenging the deposit of the above sums on the ground that these amounts shown as deposited in the firm, are actually the income of the firm and not of the persons in whose accounts the amounts have been shown. ..... 2) act, 1965, was limited in its scope and could not be invoked in assessment proceedings relating to any person other than the person making the declaration under that act so as to rule out the applicability of section 68 of the income-tax act, 1961. ..... 2) act, 1965, was to the order of the central board under section 24(6) and not to the assessment of tax made on the declarations under the scheme. ..... section 24 of the finance (no. ..... the legal fiction created by section 24(3) of the finance (no. ..... there was nothing in section 24 of the finance (no. ..... cit : [1981]130itr244(sc) has taken a view that the declaration under section 24(2) of the finance (no. ..... 2) act, 1965, does not have an overriding effect over section 68 of the income-tax act, 1961, in so far as persons other than the declarants are concerned. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2003)179CTR(MP)447; [2002]258ITR425(MP)
..... : [1993]202itr121(kar) held, as below (headnote) :'under section 40 of the finance act, 1983, provision was made to levy wealth-tax on certain assets ..... under section 27(1) of the wealth-tax act, 1957, is made by the income-tax appellate tribunal, indore bench, indore, at the instance of the revenue, for resolution of the following question said to be a question of law :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in holding that the cinema theatre was entitled to exemption from wealth-tax for the assessment years 1987-88 and 1988-89 and accordingly ..... quashing the order of the commissioner of wealth-tax passed under section 26(2) of the wealth-tax act, 1957 ?'3. ..... the matter pertains to the assessment years 1987-88 and 1988-89 and the core question is whether a cinema theatre is exempted ..... 'factory' is not defined and, therefore, a liberal approach to the interpretation of this provision would permit any entity which is governed by the factories act also to be treated as ..... this amendment certainly is a curative amendment and, therefore, normally it could be treated as declaratory .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)201CTR(MP)153; [2006]282ITR341(MP)
..... in view of the said clear provisions in section 4 of the act, chapter ii and section 2 of the finance act, 1996, we have no doubt in our mind that agricultural income of an assessee has to be taken into consideration for the purpose of determining rate of tax that is applicable to his income. ..... 1996-97, the finance act, 1996, clearly provides under chapter ii, section 2 that the net agricultural income shall be taken into account in the manner provided therein for the purpose of determining the rates of income-tax applicable to the income of the assessee. ..... in accordance with the provisions of section 4 of the act, the finance act (central act) has been stipulating rate or rates at which income-tax is to be charged (in) the particular assessment year. ..... 39,239 on account of low gp on sale of gold and silver ornaments and the appellant urged before the cit(a) that he had maintained proper books of account and, therefore, the books of account could not be rejected under section 145(2) of the act by the ao but cit(a) held that the day-to-day stock register and quantitative tally had not been made and further sales were not recorded and, therefore, the provisions of section 145(2) of the act were applicable to the appellant's case. ..... a survey, under section 133a of the it act (for short 'the act') was conducted on 23rd nov. ..... section 4 of the act which is titled as charge of income-tax provides in sub-section (1) as follows :4. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1980]124ITR297(MP)
..... it was contended before the ito that the aforesaid five creditors had made voluntary disclosures under the voluntary disclosure scheme of the finance act, 1965, and that the disclosures were accepted by the cit. ..... act, 1961, the income-tax appellate tribunal, indore bench, has referred the following question of law to this court for its opinion :'whether, on the facts and circumstances of the case, the tribunal was justified in law in holding that the acceptance of the voluntary disclosure petitions under section 24 of the finance (no. ..... the aac held that the acceptance of the voluntary disclosure petitions made by the creditors in question to the commissioner and the payment of tax thereon, precluded the department from disputing the fact that the income belonged to the said creditors and as the same income cannot be assessed twice, once in the hands of the creditors and again in the hands of the assessee, the order passed by the ito in that behalf was liable to be set aside. ..... on such disclosure being made the amount was to be charged to income-tax in accordance with sub-section (3) of section 24 of the act, taking the disclosed income as the taxable income of the declarant. ..... 15 of 1965} permitted the making of voluntary disclosure in respect of the amount representing income chargeable to tax under the indian income-tax act, 1922, or the income-tax act, 1961, for any assessment year commencing on or before the 1st day of april, 1964. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 2002(4)MPHT47
..... petitioner is seeking the issue of writ to the respondents to accept the declaration under section 89 of the finance act no. ..... 2 of 1998 was that appeal or reference was preferred or writ petition should have been admitted and pending before any appellate authority or high court or supreme court on the date of such declaration which was not satisfied in the instant case ..... it was held that when the reference was revived on may 27th, 1999 and the case was restored the effect of the order was that the basis of the order rejecting the declaration was wiped off ..... the same did not find favour with the respondent commissioner of income tax and the prayer was disallowed on 13th september, 1999 as per order annexure p-9.3 ..... thus, his declaration under section 89 should be revived and considered on merits. ..... learned counsel for petitioner submits that once the appeal was restored the order of dismissal in default of appearance stands wiped off and the appeal has to be treated as pending on the relevant date between 1-9-98 to 31-1-99. ..... the term 'restoration' itself contemplates that original position reverts back and the application filed by petitioner annexure p-8 on 8-7-99 was wrongfully rejected ..... the case stood dismissed in default of appearance and was restored later on and the factum of restoration does not enure to the favour of the petitioner.4 ..... moved an application annexure p-8 on 8-7-99 pointing out that restoration was accepted on 1-6-1999 and appeal was still pending before the tribunal. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2002]256ITR265(MP); 2002(3)MPLJ317
..... respondents in their return contend that no appeal was pending before the appellate authority on january 28, 1999, the declaration filed by the petitioner under section 89 was rejected on the ground that the appeal was not pending on the date of filing declaration. ..... the assessing officer completed the assessment under section 143(3) of the income-tax act, 1961, on march 31, 1993, on a total income of ..... petitioner filed a declaration under section 89 of the finance (no. ..... the term 'restoration' itself contemplates that the original position reverts back and the application filed by the petitioner annexure p/8 on july 8, 1999, was wrongfully ..... , his declaration under section 89 should be revived and considered on the merits ..... it was held that when the reference was revived on may 27, 1999, and the case was restored the effect of the order was that the basis of the order rejecting the declaration was ..... was filed for restoration ; the tribunal vide order dated june 1, 1999 (annexure p/2), recalled the order and restored the appeal, the appeal was ultimately dismissed on may 10, 2000. ..... precondition for admittance of a declaration under section 88 of the finance (no. ..... been dismissed on the merits later on after its restoration cannot come in the way of the petitioner for consideration of his case as per more beneficial provision, 'kar vivad samadhan scheme' framed under the finance (no. ..... petitioner is seeking the issue of writ to the respondents to accept the declaration under 89 of the finance (no. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2003]262ITR33(MP)
..... --for the purposes of sections 192 to 194, section 194a, section 194b, section 194bb, section 194c, section 194d, section 194e, section 194ee, section 194f, section 194g, section 194h, section 194(1), section 194j, section 194k, section 194l, sections 195 to 203 and section 285, the expression 'person responsible' for paying means-- (i) in the case of payments of income chargeable under the head 'salaries', other than payments by the central government or the government of a state, the employer himself or, if ..... a banking company to which the banking regulation act, 1949 (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that act) ; or(b) time deposits with a co-operative society engaged in carrying on the business of banking ;(c) deposits with a public company which is formed and registered in india with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in india for residential purposes and which is for the time being approved by ..... company, including the principal officer thereof;(iia) in the case of any sum payable to a non-resident indian, being any sum representing consideration for the transfer by him of any foreign exchange asset, which is not a short-term capital asset, the authorised dealer responsible for remitting such sum to the non-resident indian or for crediting such sum to his non-resident (external) account maintained in accordance with the foreign exchange .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 1986(8)ECC106; 1989(20)LC204(MP); 1985(22)ELT732(MP); 1986MPLJ561
..... since in terms of the explanation under section 51 of the finance act, it is clear that criminal liability will not be attracted because of retrospective amendment and moreover civil liabilities such as recovery of duty not levied or not paid or short levied or short paid or erroneously refunded has to be done in accordance with the provisions of the act and the rules as in force from time to time, therefore, there is no unreasonableness on account of length of retrospectivity of the amendment and section 51 of the finance act, 1982 and rules 9 and 49 of central excise rules as amended are vaild. ..... in this petition under article 226 of the constitution the petitioner is challenging levy of duty on pigment slurry and nitrocellulose lacquer under central excises and salt act, 1944, and also challenging section 51 of the finance act, 1982 and notification dated 20-2-1982 giving retrospective effect to rules 9 and 49 of the central excise rules, 1944, from the date of framing of the rules.2. ..... now remains challenge of the petitioner to section 51 of the finance act of 1982 and notification dated 20-2-1982 giving retrospective effect to the amended rules 9 and 49 of the excise rules, 1944, on the ground that it is not permissible in law to provide for a statutory provision like section 51 of the finance act giving retrospective effect to the rules and it is inconsistent with section 37 of the central excise act and is violative of article 19(1)(g) of the constitution. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2006]286ITR425(MP)
..... let out was allowable even after giving a specific finding that the assessee did not owe any loan or debt in relation to the property let out and in the face, the specific provisions of section 40(2) of the finance act, 1983 whereby only those debts can be allowed which are secured on or which have been incurred in relation to assets upon which the wealth-tax is chargeable as per sub-section (3) of the said section 40 of the finance act, 1983 ?2. ..... the commissioner of wealth-tax, indore has filed this appeal under section 27a of the wealth-tax act, 1957, which has been admitted on the following substantial question of law:whether on the facts and in the circumstances of the case and in law the income-tax appellate tribunal was justified in holding that deduction of the liability to the ..... learned counsel contends that in the present case it is not disputed that in the succeeding year the authority has accepted the deduction of the amount and, therefore, for the uniformity in the assessment the department is bound to allow the deduction of the amount notwithstanding that every assessment year is a ..... duly recorded that in view of the consent decree of the bombay high court the said claim has been allowed by the commissioner of wealth-tax (appeals) and, therefore, the assessee cannot be denied the benefit for the past years. ..... however, the income-tax appellate tribunal, indore by its impugned order allowed the appeal and hence the revenue has preferred the above appeal to this court.4. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1964MP242; [1964]15STC254(MP)
..... misconception in the minds both of the petitioners as well as of the taxing authorities on the question of the nature and effect of a hire purchase agreement and of explanation i to section 2(n) of the act, and that in view of the authoritative pronouncements of the supreme court there was no justification for this misconception and the removal of the misconception was necessary for guiding both the petitioners as well as the taxing authorities in the matters ..... tax officer, jabalpur, under section 29 of the act required him to produce before the sales tax officer on the date mentioned in the notice 'books of accounts since the commencement of business to date regarding the finances made for the purchase ..... number of instalments, shall enjoy the use of the goods, which ultimately may become his property, the transaction amounts to one of hire-purchase, even though the title to the goods has remained with the owner and shall not pass to the hirer until a certain event has happened, namely, that all the stipulated instalments have been paid, or that the hirer has exercised ..... mere contract of hiring, without more, is a species of the contract of bailment, which does not create a title in the bailee, but the law of hire-purchase has undergone considerable development during the last half a century or more and has introduced a number of variations, thus leading to categories and it becomes a question of some nicety as to which category a particular contract between the parties comes under. .....
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