Court : Gujarat
Reported in : (2008)218CTR(Guj)541; [2008]307ITR1(Guj)
..... rs. 5,05,087/- came to be filed.3. on 24.11.1995 search proceedings under section 132 of the income tax act, 1961 (the act) were carried out at the residential premises of three erstwhile partners of the petitioner firm. certain loose papers were found from the residence of one of the partners mr ..... the block period has to be read with computation of total income under chapter iv of the 1961 act.(emphasis supplied)9. in rejoinder, the learned counsel appearing for the petitioner has placed reliance on decision of high court of rajasthan in the case of commissioner of income tax v. ramesh chand soni (2005) 194 ctr (raj) 84. it was reiterated that ..... section 158be of the act was a complete code on the subject of .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)165CTR(Guj)620; [2001]252ITR354(Guj)
..... india, the petitioner-company has raised a challenge against the order dated july 29, 1992, passed by the respondent, under section 264(1) of the income-tax act, 1961 ('the i.t. act'), whereby, the revision petition, which pertained to the assessment year 1989-90, came to be dismissed.2. in essence, the factual matrix is not much ..... even remotely warrant interference of this court. nothing has been spelt out for the exercise of discretion by the assessing officer under section 139(9) of the income-tax act and the exercise of discretionary power under section 264(1) of the respondent is in any way influenced by extraneous or hostile consideration. on the contrary, ..... and, in particular, the material provisions of section 139(9)(bb) and the exercise of discretionary power by the respondent under section 264(1) of the income-tax act, we are of the clear opinion that the contentions propounded by the assessee-company before the assessing officer as well as the revisional authority are, rightly, .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)198CTR(Guj)641; [2005]278ITR3(Guj)
..... l) the judgement of the apex court in the case of sree balaji rice mill (supra) cannot be applied as the scheme of karnataka sales tax act, 1957 and the income-tax act, 1961 are different in content and legislative intent.34. in the result, this court does not find any infirmity in the order of the tribunal and the ..... means to be honestly satisfied in your own mind. the phrase satisfied occurs in many taxing statutes and is a familiar one for a great many years (see for example sec. 271 of the income-tax act, 1961 and section 56 of the delhi sales-tax act, 1975). the phrase sis satisfied means simply makes up its mind [per lord pearson ..... 1. the following question has been referred by the income-tax appellate tribunal, ahmedabad bench b' under section 256(1) of the income-tax act, 1961 (the act) at the instance of the commissioner of income-tax.'whether the appellate tribunal is right in law and on facts in setting aside the order made by the cit invoking the provisions of section 263 of the i .....
Tag this Judgment!Court : Gujarat
Reported in : (1968)0GLR955; [1968]68ITR740(Guj)
..... which arises in these three references is as to the effect of the repeal of the act by the income-tax act, 1961 (hereinafter referred to as the act of 1961). 2. in income-tax reference no. 25 of 1965, the assessee is an individual and the relevant assessment year is 1962-63. the income-tax officer called upon the assessee by a demand notice under section 18a (1), dated june ..... 10, 1961, to pay advance tax in four equal instalments falling due on june 15, 1961, september 15, 1961, december 15, 1961 .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)166CTR(Guj)306
..... writ of certiorari or any other appropriate writ for quashing the notice dated 29-8-2000 (annexure 'a'), under section 158bd of the income tax act, 1961 (hereinafter referred to as the act'), issued by the jt. cit, special range-2, rajkot, the sole respondent herein.2. the facts leading to filing of this petition, briefly stated and as averred ..... bank accounts maintained by shri hemant c. shah in the name of m/s m. dineshkumar & co. which is to be brought go tax, under section 68 of the income tax act as undisclosed income during the block period. 'the respondent has further averred that prime facie on the basis of the facts gathered during the search, which is ..... through bank account maintained by shri mahendra c. shah. the above findings are corroborated by statement of shri mahendra c. shah under section 132(4) of the income tax act wherein he has clearly admitted while answering question nos. 2,10, and 11 that he is in the business of providing cheques against cash.that the petitioner .....
Tag this Judgment!Court : Gujarat
Reported in : [2001]251ITR615(Guj)
..... certiora'ri or any other appropriate writ for quashing the notice dated august 29, 2000 (annexure a), under section 158bd of the income-tax act, 1961 (hereinafter referred to as 'the act'), issued by the joint commissioner of income-tax, special range-2, rajkot, the sole respondent herein.2. the facts leading to the filing of this petition, briefly stated ..... bank account maintained by shri mahendra c. shah. the above findings are corroborated by a statement of shri mahendra c. shah under section 132(4) of the income-tax act wherein he has clearly admitted while answering questions nos. 2, 10 and 11 that he is in the business of providing cheques against cash. that the petitioner ..... the bank accounts maintained by shri hemant c. shah in the name of m. dineshkumar and co. which is to be brought to tax, under section 68 of the income-tax act as undisclosed income during the block period.' 5. the respondent has further averred that prima facie on the basis of the facts gathered during the search, .....
Tag this Judgment!Court : Gujarat
Reported in : [2005]141STC339(Guj)
..... court are with reference to the provisions of income-tax act, the principle laid down therein will be equally applicable to the situation arising under the gujarat sales tax act. so far as the provisions of sales tax act is concerned, the same is in pari-materia with the provisions of income tax act though income tax act is a direct tax and sales tax is an indirect tax. however, for the purpose of assessment is ..... concerned, the basic scheme of both the act is similar.13.1 under the gujarat sales-tax act, the dealer is required to .....
Tag this Judgment!Court : Gujarat
Reported in : [1995]212ITR310(Guj)
..... 29, 1983, which, inter alia, reads as under : 'in pursuance of sub-section (1) of section 125a of the income-tax act, 1961 (43 of 1961), the commissioner of income-tax, gujarat (central), ahmedabad, hereby directs that the inspecting assistant commissioner of income-tax specified in column 2 and the income-tax officer as specified in column 3 of the schedule appended to this order shall perform concurrently all the functions ..... of the income-tax officer conferred under the income-tax act, 1961, in respect of persons whose particulars are mentioned in column 5 thereof and in respect of income of such persons except in respect of such cases as have been or may here-after be made specifically assigned .....
Tag this Judgment!Court : Gujarat
Reported in : [1997]225ITR1040(Guj)
..... 170. 13. these two provisions read together leave no room for doubt that reconstitution of the firm is quite distinct from succession of firm for the purposes of the income-tax act. in the former, there is no break in the continued existence of the firm as an entity, but with the change of partners or change in the ratio ..... of the firm as a registered firm, which has been validly granted and for which no ground is made out for holding that to be erroneous. 6. under the income-tax act, a firm, which is not a juristic person and having an entity independent of its partners under the general law of partners, is an independent unit of assessment ..... independent from the partners who constitute it and a special procedure for the assessment of the income of the firm has been made. chapter xvi of the income-tax act enacts special provisions applicable to firms. under sections 182 and 183 it envisages that assessment of a firm may be either as a .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)169CTR(Guj)519
..... to the facts in this regard in detail a little later.8. the income tax act, 1961 provides for the machinery in chapter xiv under sections 147 to 153 for the assessment of escaped income in certain circumstances. the fundamental underlying these provisions of the act is to see that the entire income of an assessee assessable in respect of a particular assessment year is subjected to ..... assessment year 1990-91 has escaped assessment within the meaning of section 147 of the income tax act, 1961. the said notice further states that the notice has been issued after obtaining necessary satisfaction of the joint commissioner gr-2, rajkot/central board of direct taxes. it is this notice which is under challenge in this petition.6. the petitioners case in brief is that .....
Tag this Judgment!