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 : (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 : AIR2005Guj180; [2007]139CompCas612(Guj)
..... per statement of accountant of the said concern. in these circumstances, the complainant recorded a statement of the respondent on oath under section 131 of the income tax act,1961. in the said statement, the respondent categorically accepted the fact that the certificate was in fact issued some time in february 1992 and that actual audit ..... at that time. the respondent signed the back dated report to save m/s. arti enterprises from the rigorous of the penalty under section 271b of the income-tax act,1961.2. also there were no markings anywhere in the books by the respondent, which is normally done when the books are audited. it, therefore, appears ..... material time was a practicing chartered accountant having a standing of 15 years. it appears that the respondent was required to issue tax audit certificate as required under section 44ab of the income tax act,1961 for financial year 1990-91. admittedly the said certificate is bearing the date of 30/10/1991. the complainant, during course of .....
Tag this Judgment!Court : Gujarat
Reported in : [2002]253ITR33(Guj)
m.s. shah, j.1. both these references, at the instance of the same assessee, are made by the income-tax appellate tribunal, ahmedabad, under section 256(1) of the income-tax act, 1961, (for brevity 'the act').2. in income-tax reference no. 59 of 1988, the following question is referred for the opinion of this court in respect of the assessment ..... years 1974-75 and 1975-76 :'whether, on the facts and in the ciraimstances of the case, the levy of penalty under section 271(1)(a) was legal and valid in law ?'3. in income-tax ..... order for settlement under section 245d(4) results into or is to be treated as exemption from imposition of penalty, under the income-tax act, but an express direction of the settlement commission would be required if the assessee claims any benefit in the matter of levy or quantification of .....
Tag this Judgment!Court : Gujarat
Reported in : [2001]251ITR270(Guj)
..... the 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 of income-tax, sr-2, rajkot/central board of direct taxes. it is this notice which is under challenge in this petition.6. the petitioner's case in ..... 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 .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)220CTR(Guj)382; [2010]320ITR461(Guj)
..... transaction, necessary certificate was obtained from the appropriate authority in terms of provisions of chapter xxc of the income tax act, 1961 [the act]. the vendors had also obtained necessary tax clearance certificate under section 230a of the act. some disgruntled relatives of the vendors challenged the sale deed in the civil court and the proceedings ultimately ..... appear that these persons are in possession of valuables, assets like jwellery, money, bullion etc. which represents income which is not disclosed or is not likely to be disclosed for the purpose of income tax act. it is therefore proposed that residential premises of persons mentioned in annexure 'a' may be covered under section ..... 132 of the i.t. act and survey under section 133a as per annexure 'b'.put up before addl dit .....
Tag this Judgment!Court : Gujarat
Reported in : [1973]88ITR125(Guj)
..... od demand is issued under section 29 or section 45 of the indian income-tax act, 1922, or the corresponding section 156 or section 220 of the income-tax act, 1961. now the scheme of the wealth-tax act is in material respects identical with that of the income-tax act so far as charge, assessment and levy of tax are concerned and what the judicial committee of the privy council has said ..... of the return so also, where assessment to income-tax, wealth-tax or gift-tax is reopened and fresh assessment is made under section 34 of the indian income-tax act, 1922, or section 147 of the income-tax act, 1961, before the final completion of the wealth-tax assessed, what would be the amount of the tax deductible would it be the amount of tax as reassessed or as originally assessed or according .....
Tag this Judgment!Court : Gujarat
Reported in : (1983)34CTR(Guj)230; (1983)1GLR623; [1983]142ITR211(Guj)
..... any moneys or other assets which have not been or which ought to be disclosed by the transferee for the purpose of the act, or the indian income-tax act, 1922, or the wealth-tax act, 1957. 8. before initiating such proceedings, the competent authority must record his reasons for doing so. sub. s. (2) of s. 269c provides that ..... lands, at prices which correspond to those recorded in the sale deeds, and (ii) to improve the present arrangement for valuation for the purposes of income-tax, wealth-tax and gift-tax laws of buildings and lands and other assess, by augmenting the set-up of the official valuation machinery and enhancing its powers on the one hand, ..... is subjected to acquisition under the provisions of chap. xxa-of the i.t. act. 1961 (hereinafter called 'the act'), can the tenants who are in occupation of different parts of the said property be evicted therefrom under s. 269i of the act with a view to vesting it absolutely in the central government free from all encumbrances, .....
Tag this Judgment!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 : (2008)216CTR(Guj)174; [2009]312ITR115(Guj)
..... issues:i. whether the petitioners are liable to be charged interest for assessment years 1989-1990 and 1990-1991 under section 234b of the income-tax act, 1961 (the act) in cases where under section 234b(1) of the act, no interest was leviable? andii. whether the petitioners, whose assessment have been re-opened in exercise of powers under section 245e of the ..... to levy interest on the petitioners in respect of reopened assessments for asst. years 1985-86 to 1988-89 under section 139(8), 215 and 217 of the income-tax act.d. that this hon'ble court be pleased to issue an appropriate writ, direction or order under article 226 and 227 of the constitution of india quashing the ..... commission dated 20-3-1995 to the extent it holds that the petitioners are liable for interest under section 234b(1) read with sub-section (4) of the income-tax act for asst. years 1989-90 and 1990-91 in cases where no interest was as such leviable under section 234b(1) and quashing the consequential directions for levy .....
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