Court : Mumbai
Reported in : [1993]202ITR74(Bom)
..... income-tax settlement commission under section 245ha of the income-tax act, 1961, and under section 22ha of the wealth-tax act, 1957. the petitioner had filed income-tax and wealth-tax applications under section 245c(1) of the income-tax act and section 22c(1) of the wealth-tax act on july 22, 1976. the application was admitted for income-tax and wealth-tax on december 15, 1976. for income-tax ..... was not entertained nor was any interim relief granted.6. on september 1, 1989, a notice under section 245ha of the income-tax act, 1961, and under section 22ha of the wealth-tax act, was served on the petitioner and the hearing was fixed on october 5, 1989. the notice informed the petitioner that the ..... on behalf of the petitioner, it is necessary to briefly refer to the relevant provisions of the income-tax act relating to settlement of cases set out in chapter xix-a of the income-tax act. the income-tax settlement commission is set up under section 245b and consists of a chairman and as many vice- .....
Tag this Judgment!Court : Delhi
Reported in : [1973]92ITR312(Delhi)
..... said this :'the matter has been carefully examined. however, in view of the provisions of sections 240 and 244(1) read with section 297(2)(i) of the income-tax act, 1961, it is not possible to agree to your request for the grant of interest on the amount of refund for the period from march, 1957, to december, 1966, ..... and 7:7. first of all it has to be determined whether the indian income-tax act of 1922 (referred to hereinafter as the old act) or the income-tax act, 1961 (referred to hereinafter as the present act), applied to the facts of this case.8. under the old act it was provided in section 66 that a reference may be made to the ..... plaintiffs entitled to have any interest on the sum refunded to them on account of income-tax and/or excess profits tax ? (6) whether the claim of the plaintiffs in the suit is governed by the provisions of the income-tax act, 1961, or under the provisions of the indian income-tax act, 1922 ? (7) whether the plaintiffs are entitled to recover any amount from .....
Tag this Judgment!Court : Gujarat
Reported in : [2007]138CompCas204(Guj); [2007]79SCL47(Guj)
..... carry forward losses and depreciation of sachana undertaking of core in the hands of nirma is concerned, it is to be seen that section 72a(4) of the income tax act, 1961 itself provides that such carried forward losses or unabsorbed depreciation of demerged undertaking would be carried forward and set off in the hands of the resulting company. if ..... by the transferee company, who issues shares to the shareholders of the transferee company. the concept of demerger is well-established and explained under the companies act as well as under the income-tax act. the bombay high court, in nicholas piramal's case [2004] 121 comp cas 623 [bom], while considering a scheme of arrangement, sanctioned such scheme ..... ., in re [1993] all er rep 105 ch d and bugle press ltd., in re [1961] 31 comp cas 369 : [1961] ch 270 that the power of the court is to be satisfied only whether the provisions of the act have been complied with or the class or classes were fully represented and the arrangement was such as .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC1038; (1989)75CTR(SC)187; [1989]176ITR169(SC); JT1989(1)SC234; 1989(1)SCALE247; (1989)1SCC628; [1989]1SCR335
..... been explained by this court in the aforesaid decision. this court observed that these are contained in chapter xix-a of the income-tax act, 1961. the said chapter was enacted by the taxation laws (amendment) act, 1975 whose beneficiaries were ordinarily those whose tax liability was astronomical and criminal culpability perilous. as has been observed that this chapter was introduced with the debatable policy, fraught ..... ). the appellant had applied to the settlement commission for settlement of his assessment years 1948-49 to 1975-76 under the income-tax act, 1961 (hereinafter referred to as 'the act'). that application had to be proceeded in accordance with section 245c of the act which is as follows:245c. (1) an assessee may, at any stage of a case relating to him, make an application .....
Tag this Judgment!Court : Rajasthan
Reported in : (2006)202CTR(Raj)231; [2006]282ITR83(Raj); RLW2005(3)Raj1898; 2005(4)WLC21
..... collected by the salesmen from retailers/distributors at the time of delivery of bread.30. to verify these allegations, an action under section 132 of the income tax act, 1961 was conducted on 8.1.2004. it resulted in seizure of unaccounted case and jewellery, beside seizure of incriminating documents, books of accounts etc. the ..... one crore.17. per contra, learned counsel for the respondents submits that the search and seizure operations under section 132 of the income tax act, 1961 were duly authorized by the director general of income tax (inv.) new delhi after careful examination of information, evidence and material. the search and seizure operations are carried out after the ..... bom) (1) (orient (goa) ltd. and anr. (2) db24. heard rival submissions of the respective parties and perused the relevant provisions of law of income tax act as well as judgments referred by the respective parties.25. this petition is filed against the search operation and panchnama dated 8.1.2004 and 9.1.2004 .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1970All620; [1970]75ITR741(All)
..... registrar co-operative society u. p. (relying on pannalal binjraj v. union of india : [1957]1scr233 . 53. clause (g), section 297(2) of the income-tax act, 1961, makes the new act applicable to penalty proceedings in respect of an assessment for the year ending on 31st march, 1962, or any earlier year, provided the assessment is completed on or after ..... the petitioner felt aggrieved and went up in appeal to the tribunal. before the tribunal it was argued for the assessee that section 297(2)(g) of the income-tax act, 1961, violated article 14 of the constitution. this plea was repelled by the tribunal on the strength of the supreme court decision in : [1966]60itr112(sc) in ..... that of the bombay high court in shakti offset works, : [1967]64itr637(bom) (supra). while striking down, as ultra vires, section 297(2)(g) of the income tax act, 1961, the bombay high court observed at p. 657: 'the date of completion of the assessment makes no difference, so far as this aspect is concerned. in fact, it .....
Tag this Judgment!Court : Mumbai
Reported in : IV(2004)BC6; 2004(4)BomCR842; [2004]122CompCas831(Bom); (2005)193CTR(Bom)229; [2005]273ITR451(Bom); 2004(3)MhLj893
..... 11 of the rules under the 2nd schedule part i of income tax act, 1961 we reproduce them for ready reference :--'section 29 of r.d.b. act : application of certain provisions of income tax act :-- the provisions of the second and third schedules to the income tax act, 1961 and the income tax (certificate proceedings) rules, 1962, as in force from time ..... the same meaning to defendant/judgment debtor under the rules. inviting our attention to rule 11 of the rules set out in second schedule to income tax act, 1961, it is contended by shri naphade that claim preferred or objection is raised to attachment or sale of any property in execution of certificate on ..... 2 and not petitioners herein. after inviting our attention to sections 19, 25, 28 and 29 of rdb act, it is contended by shri naphade that provisions of second and third schedule to income tax act, 1961 and income tax (certificate proceedings) rules, 1962 are applicable when recovering the dues under a recovery certificate issued by drt. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2009)224CTR(SC)113; [2009]314ITR81(SC); JT2009(8)SC429; 2009(7)SCALE721; (2009)7SCC69; [2009]181TAXMAN111(SC)
..... the scope of the said amendment of 2005. suffice it to state that in this particular case when the order of the commissioner was passed under section 263 of the income tax act, 1961, two views on the said word 'profits' existed. referring to malabar industrial co. ltd. (supra), it was observed:every loss of revenue as a consequence of an order of the ..... bachao andolan : [2003]263itr707(sc) , this court held:26. in union of india and anr. v. azadi bachao andolan, a circular was issued by cbdt under section 119 of the income-tax act, 1961. it was challenged inter alia on the ground that it was ultra vires the provisions of section 19(1). the argument was rejected by this court in the following words .....
Tag this Judgment!Court : Karnataka
Reported in : (1991)99CTR(Kar)269; ILR1991KAR3414; [1992]194ITR584(KAR); [1992]194ITR584(Karn)
..... [1972]84itr616(delhi) (delhi) in which the headnote reads : 'all that clause (a) of section 147 of the income-tax act, 1961, requires is that the income-tax officer must have reason to believe that income chargeable to tax has escaped assessment and not that he should launch an investigation and come to a positive finding before issuing the notice. there ..... sale makes the position clear : '10.3. in the event of the schedule propety being acquired under the provisions of chapter xx-c of the income-tax act, 1961, then this agreement shall be treated as cancelled without any of the aforementioned penal consequences and the vendors shall refund the entire advance to the purchasers ..... mohan buildings has been purchased by the appropriate authority, vide their order under section 269ud(1) dated 24-1-91, under chapter xx-c of the income-tax act, 1961, for the central government, the agreement between us and m/s. rajatha trust represented by k. v. shivakumar, sole trustee dated 28-11-90 for .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1984]147ITR529(MP)
..... executing a new deed amounted to a change in the constitution of the original firm as contemplated by section 187(2) of the income-tax act, 1961, and the income-tax officer was right in clubbing the income for both the periods in framing this assessment ?'answer: the tribunal was correct in law in holding that the new partnership amounted ..... to a change in the constitution of the original firm as contemplated by section 187(2) of the income-tax act, 1961, and that the income-tax officer was right in clubbing the income for both the periods in framing assessment.misc. civil case no. 209 of 1980.23. the assessee firm consisted originally of ..... tribunal was justified in law in holding that there was a change in the constitution of the firm within the meaning of section 187(2) of the income-tax act, 1961, and, thereby directing the making of one assessment for the entire accounting period ?'answer: the tribunal was justified in law in holding that there was a .....
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