Court : Chennai
Reported in : (1992)104CTR(Mad)143; [1992]195ITR137(Mad)
..... above, it is unequivocally crystal clear that the commissioner had exercised his discretion to prosecute the petitioner, accused no. 1, for the offences under the income-tax act, 1961, inclusive of sections 276c and 277. from the authorisation so given, it is inferable with ease and grace that the commissioner had exercised his discretion ..... accused no. 1 presenting before the sub-registrar, kodambakkam, form no. 37g (in duplicate) prescribed under rule 48 of the income-tax rules, 1962, and section 269p(1) of the income-tax act, 1961, duly verified and signed, along with the instrument of transfer mentioning in columns 8 and 9, the actual consideration for the ..... 1860, is not legally permissible, as there is no section for such prosecution under section 279(1) of the income-tax act, 1961, and if the complaint had been filed limited to offence under the income-tax act alone, there was a possibility of such offences being compounded under the benevolent provisions adumbrated in sub-section (2) .....
Tag this Judgment!Court : Delhi
Reported in : AIR1974Delhi73; [1974]95ITR197(Delhi)
..... to have received more consideration that is stated in the instrument of transfer would be dealt with separately, for instance, under section 52 of the income-tax act, 1961 as chapter xxa 3. the act; came into force on 15th november, 1972. the taxation laws (amendment) bill 1971 was introduced in parliament on 12th august 1971. the instrument ..... bound to be considered on numerous occasions in future in view of the enactment of art. 31-c.33. the taxation laws (amendment) act, 1972 inserting chapter xx-a in the income-tax act, 1961 is also a unique enactment. for the first time, it introduces a legislative measure which combines imposition of penalty with acquisition of property of ..... in the background of this authoritative interpretation of the scope of article 31-c that we have to consider the validity of the act of 1972 as inserted in chapter xxa of the income-tax act, 1961.article 39(b):-8. the science of economics recognises land to be a scare goods. it is strictly limited in quantity. it .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR4550
..... date of receipt of the appeal.' section 22(e): reviewing the decisions.section 29: 'application of certain provisions of income tax act.- the provisions of the second and third schedules to the income tax act, 1961 (43 of 1961) and the income tax (certificate proceedings) rules, 1962, as in force from time to time shall, as far as possible, apply with ..... to institute a suit challenging the sale of the plant and machinery. this court considered the provisions of the second and third schedules to the income tax act, 1961 and the income tax (certificate proceedings) rules, 1962. this court further observed that the view formed in regard to the necessity of relegating the petitioners to the institution ..... those cases in which the property of the judgment debtor is sought to be recovered in terms of rule (4) of the second schedule of the income tax act, 1961 ?3. what is the remedy available to a party, who is not a party in proceedings before the debts recovery tribunal, but, whose property has .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)54CTR(Guj)272; (1987)1GLR3; [1986]162ITR28(Guj)
..... must reject this contention. 61. re : contention no. 1. - on behalf of the petitioners, it has been urged that the impugned section 44ab of the income-tax act, 1961, inasmuch of the obligations and functions prescribed for the chartered accountants are beyond the obligations and functions associated with the auditors in the classical sense since the main ..... the division bench of this court was concerned in rahimbhai karimbhai's case : [1974]97itr660(guj) , with the validity of section 271(1)(c) of the income-tax act, 1961, on the ground of its being violative of article 14 of the constitution inasmuch as the extent of the guilt and the extent of the penalty were not co- ..... and subsequent assessment years in general for compelling, bona fide and just reasons would also expose themselves not only to penalty under section 271b of the income-tax act, 1961, which penalty is again related to the total sales turnover or gross receipts subject to a maximum sum of rs. 1,00,000 but also their .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1997SC1973; (1997)139CTR(SC)442; [1997]224ITR635(SC); JT1997(3)SC692; (1997)4SCC677; [1997]2SCR991
..... . it is of interest to note that the phrase 'body of individuals' has been used by the parliament in a revenue act even before the income tax act, 1961 was passed. under the gift tax act, tax was imposed on gifts made in course of every assessment year commencing on and from the first day of april, 1987 at the prescribed rate by a 'person'. 'person' was ..... following sections were machinery and enabling sections and not charging sections.46. in our view, these two decisions correctly stated the law under the act of 1922. these principles will also apply to the corresponding provisions of the income tax act, 1961.47. in view of the aforesaid, the appeals are dismissed. there will be no order as to costs.ca.nos. 1664-66/ ..... the sub-partnership could not be assessed in the hands of the assessee under section 64 (1)(i) and (iii) of the income tax act, 1961. it has also been stated in the appeal that in the case of a.n. agarwal, assessment was made in the status of individual for the years 1964-65 .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR4592; (2009)227CTR(Bom)1; [2009]318ITR352(Bom); 2010(1)MhLj526; [2009]185TAXMAN187(Bom)
j.p. devadhar, j.1. this appeal filed under section 260a of the income tax act, 1961 (`act' for short) was initially heard by a division bench of this court and by an order dated 19-12-2008, the said division bench requested the learned chief justice to ..... longer res-integra. the apex court in the case of liberty india v. commissioner of income tax reported in 2009 (12) scale 61 held as under:13. before analyzing section 80ib, as a prefatory note, it needs to be mentioned that the 1961 act broadly provides for two types of tax incentives, namely, investment linked incentives and profit linked incentives. chapter vi-a which provides ..... the same constitute charge on profit, whereas, deductions under chapter vi-a are allowed from gross total income chargeable to tax. therefore, the judgments rendered in the context of section 80hhc of the 1961 act, both by this court and by the kerala high court stand on different footing. 39. in the light of the aforesaid decisions of the apex court, it is .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1992SC803; (1992)2CompLJ50(SC); (1992)101CTR(SC)386; [1992]195ITR81(SC); JT1992(1)SC140; 1992(1)SCALE65; 1992Supp(2)SCC567; [1992]1SCR57
..... determined by them on the facts of each case.4. it would also be noticed from all the approval letters that they are subject to amendments enacted in the income-tax act, 1961, from time to time. therefore, notwithstanding the approval under section 80-o or the words 'assessment year 82-83 and onwards', if the project or work falls ..... you and m/s. amanat al-asima baghdad water supply administration, government of iraq, baghdad, on 17.12.1980 for the purpose of section 80-o of the income-tax act, 1961, for the assessment years 1982-83. for the subsequent period your attention is invited to the provision of section 80-hhb which are operative w.e.f. 1 ..... from the activities pursuant to the seven agreement with foreign governments/enterprises, etc. are governed by the provisions of section 80-hhb of the income-tax act, 1961 and not of section 80-o of that act?2. whether on the facts and in the circumstances of the case, the tribunal was right in holding that notwithstanding the approvals granted by .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(4)BomCR258; (2008)220CTR(Bom)649; [2009]311ITR46(Bom)
..... be exercised.ii) the transaction of sale of the share capital of cgp investment (holdings) ltd. (cgp) would give rise to a charge to tax in india.iii) the provisions of section 195 of the income tax act, 1961 (the act) and the impugned show cause notice are not extra-territorial in their operation;iv) the petitioner would be an assessee in default even in accordance ..... in c.i.t. v. tata chemicals ltd : [1974]94itr85(bom) with reference to the similar or almost identical provisions in section 9(1) of the income tax act, 1961 that in order to rope in the income of a non-resident under the deeming provision it must be shown by the department that some of the operations were carried out in india in respect .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]107ITR214(Guj)
..... of j. b. mehta and t. u. mehta jj., had taken the view that in provisions similar to section 271(1)(a) of the income-tax act, 1961, in the sales tax act, where also the words 'without reasonable cause' have been set out in the section providing for penalty, the burden is on the revenue to prove ..... whatsoever that though penalty contemplated by section 271(1)(a) and other sections in chapter xxi of the income-tax act, 1961, can be imposed by income-tax officers as distinguished from regular criminal courts, the penalty proceedings before the income-tax authorities are quasi-criminal proceedings and they provide for offences which can be dealt with by the departmental authorities ..... penalty in section 271. 30. in the light of the above discussion, our conclusions are as follows : (1) under section 271(1)(a) of the income-tax act, 1961, failure without reasonable cause to furnish the return in question is an ingredient of the offence; (2) section 271(1)(a) provides for penalty in cases where .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]114ITR913(Guj)
..... year. it is no doubt true that whole making final order under section 104 of the income-tax act, 1961, (corresponsing to section 23a of the 1922 act), one of the considerations which should weigh with the income-tax officer is the smallness of profits. these profits, are, according to the settled legal position commercial ..... question arose in the course of the proceedings for assessment of the said year as to whether the income-tax officer was competent to make an order under section 104 of the income-tax act, 1961. he could have justifily made the order, provided the accumulated profits and reserves representing accumulated past profits exceeded ..... the accumulated profits. he, therefore, confirmed the order of the income-tax officer imposing additional tax under section 104 of the income-tax act, 1961. 4. the assessee-company being aggrieved with the said order carried the matter in the further appeal before the income-tax appellate tribunal. the department had not filed any appeal against .....
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