Court : Mumbai
Reported in : (2000)163CTR(Bom)440; [2001]112TAXMAN523(Bom)
..... to as `the assessee') along with 19 individuals and 7 hufs belonging to ajmera family, had filed 31 settlement applications under section 245c of the income tax act, 1961 (hereinafter referred to as `the act') in the month of october 1993 for the assessment years 1989-90 to 1993-94. the applications in the case of 4 firms including the ..... part thereof as prescribed in this section. it is further empowered to provide immunity from prosecution for any offence under the income tax act or under the indian penal code, 1860 or any other central act for the time being in force with respect to the case covered by the settlement under orders of the commission, subject ..... it contained in sub-sections (1a) to (1d) of section 34 of the indian income tax act, 1922, introduced in 1954. the provisions of chapter xix-a were, however, qualitatively different and more elaborate than the said provisions in the 1922 act. the said chapter thereafter went through a number of changes from the date of its insertion .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(4)ALLMR143; 2001(3)BomCR652
..... appellant was under an obligation to execute the necessary form required under section 37-i prescribed under chapter xx-c of the income tax act, 1961 and to file the same with the appropriate authority under the said act, a direction to the appellant to specifically perform the terms of the agreement for purchase of the suit premises on the ..... at 21% per annum from the date of exercise of the option till the appellant executed the necessary form 37-i under chapter xx-c of the income tax act; for consequential directions to effectuate a decree of specific performance of the agreement; a declaration that on and from 31.3.98 the appellant was in wrongful ..... the supreme court was considering the meaning of the expression 'public policy' within the meaning of section 7(1)(b)(ii) of the foreign awards (recognition and enforcement) act. 1961. the supreme court emphasised that since the expression 'public policy' covers the field not covered by the words 'and the law of india', which follow the said .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(1)BomCR419
..... in dagi ram pindi lall v. trilok chand jain : [1992]194itr228(sc) , the court found that under section 54 of the income-tax act, 1922, and after its repeal, section 137 of 1961 act had only placed fetters on the exercise of jurisdiction which were removed, with the result that the exercise of jurisdiction to call for the production ..... of documents relevant to the case pending before the court, even from the income-tax authorities revived. there is nothing in this decision which ..... guilty of diversion of funds of herbertsons ltd., and that there are observations to this effect in the assessment order dated 31-3-1997 passed by the income-tax authorities. it is not disputed that the assessment order was set aside in appeal though on a technical point, and the matter has been remanded for fresh .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(2)BomCR29; [2002(92)FLR1048]; (2002)IILLJ569Bom
..... conferred by part iii and for any other purpose. xxx xxx xxx. 19. the scope of this article has been explained by subba rao, j., in dwarkanath v. income tax officer air 1996 sc 81: 'this article is couched in comprehensive phraseology and it ex facie confers a wide power on the high courts to reach injustice wherever it ..... on two decisions of this court as justifying it to issue the said declaration. the two decisions are bidi, bidi leaves and tobacco merchants association v. state of bombay : (1961)iillj663sc , and a.b. abdulkadir v. kerala : air1962sc922 . but neither of these two decisions is a parallel case which could be relied on. in the first case, the ..... own facts and circumstances.' 93. it is not as if our civil courts have no power under the existing law. under section 31(1) of the specific relief act, 1963 (act no. 47 of 1963), any person against whom an instrument is void or voidable, and who has reasonable-apprehension that such instrument, if left outstanding, may cause him .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2002)81ITD385(Mum.)
..... account. the ito therefore estimated and determined the income at rs. 51,000. since the minimum penalty leviable exceeded rs. 1,000, the matter was referred to the iac. the iac imposed a penalty of rs. 10,000 as, according to him, the case fell under section 271(1)(c) of the it act, 1961. on appeal, the tribunal cancelled the penalty. ..... at the premises of the assessee. there was also search and seizure action carried out at the assessee's premises on 30th aug., 1991.thereafter, the cit, central, decided that the income of the assessee was only to the extent of brokerage, which was fixed at 0.75 per cent after allowing 50 per cent for sub-brokerage paid by ..... percent in the year 1981, which cannot be accepted as a decision which can never be changed. he stated that the doctrine of res indicate does not apply to income-tax proceedings.he further stated that there are tremendous changes in the business trend in the share market and, earning more brokerage cannot be ruled out. the ao relying on .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2003)86ITD714(Mum.)
..... ble supreme court ranchi club ltd. 's case (supra). the patna high court in this case held that "from the bare reading of section 156 of the income-tax act,1961 it is not clear that the notice of demand claiming interest can be issued only when there is a specific order, levying interest. to use the expression 'charge ..... in the case of ranchi club ltd. (supra), and held that interest under sections 234a and 234b of the income-tax act,1961 is livable on the tax on the total income as declared in the return and not on the income as assessed and determined by the assessing authority. in the absence of any specific order of the assessing officer, interest ..... penal action or prosecution was initiated against him. he filed a belated return on april 20,1998, admitting that amount as his income. in response to the notice issued under section 148 of the income-tax act,1961, he relied on the second return. in the assessment order, the assessing officer ordered "charge interest as per law. issue demand .....
Tag this Judgment!Court : Mumbai
Reported in : AIR2003Bom15; 2002(4)ALLMR617; 2002(6)BomCR637; (2002)4BOMLR760; 2003(1)MhLj804
..... representatives from appearing before it. it must further be remembered that there is nothing novel in such special provisions. the income-tax act, the sales-tax act, etc, permit persons not enrolled as advocates, to act, appear and plead before the authorities under those enactments, and the relevant provisions in the respective statutes are saved from ..... agent of the petitioners, had no right to plead before the consumer forum since he is not enrolled as an advocate under the advocates act, 1961 (for short, 'advocates act'). the said application was disposed of by common order dated 5th april 2002, in complaint nos. 428 of 2000 and 304 of 2000, ..... forum') and consumer disputes redressal commission (for short, 'state commission') are entitled to be represented by authorised agents who are not enrolled under the advocates act, 1961 and such authorised agents have the right of audience. the counsel appearing for the parties confined their arguments only on the aforesaid issue and hence we .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2003)87ITD607(Mum.)
..... the identical issues. for the sake of convenience these are consolidated and disposed of by a common order.2. a search action under section 132 of the it act, 1961 (hereinafter called the act) was conducted on 20th nov., 1995 at the office and residential premises of k.p. irani group. appellants belong to this group. the business of the ..... the expiry of four years from the end of the relevant assessment year can be issued only in a case where the ao has reason to believe that income chargeable to tax has escaped assessment by reason of the failure on the part of the assessee to disclose material facts necessary for assessment. in the present case, we ..... stated that the reopening was made pursuant to the audit objection. ao had reason to believe that income chargeable to tax has escaped assessment for the block period inasmuch as assessee did not follow the prescription of section 40a(3) of the act in regard to the expenditure. the entire cash expenditure was found to be not allowable in .....
Tag this Judgment!Court : Mumbai
Reported in : 2004(1)BomCR274; (2003)181CTR(Bom)30; [2003]261ITR577(Bom); [2003]44SCL254(Bom)
..... x) r/w section 222 to 225 r/w rule 26 of schedule-ii to the income-tax act, 1961 :7. in this case, we are concerned with the period after 1st april 1989. section 222 to 226 fall in chapter-xvii of the income-tax act, which deals with collection and recovery. section 226 falls under the caption 'other modes of ..... the assessee-broker. therefore, either of the two conditions, if satisfied, would attract section 226(3)(i), which is one of the modes of recovery prescribed under the income-tax act.now, in the present case, there existed a contractual relationship between the broker and bse. however, on 29th june, 1994, the broker was declared a defaulter under ..... rbi in respect of outstanding demands. by the said letter, the assessing officer further stated that he would be issuing notice under section 226(3) of the income-tax act on receiving intimation from the stock exchange regarding auctioning of the membership card. by letter dated 11th october 1995, a reply was given by the stock exchange to .....
Tag this Judgment!Court : Mumbai
Reported in : 2004(4)BomCR865; 2005(101)ECC365; 2004(169)ELT13(Bom)
..... the petitioners for use on a tug of the dgnp does not qualify for duty free clearance under section 90 of the customs act is erroneous. relying upon the decision of the apex court in the case of cit v. digvijay cement co. limited : [1998]232itr709(sc) , it was submitted that the tug is a ship and ..... thereafter supplied from the bonded warehouse by following the procedure prescribed under chapter x which includes filing of shipping bills for export under section 69 of the customs act. accordingly, it was submitted that the ship stores supplied by the petitioners to the dgnp from the bonded warehouse, are eligible for exemption under sections 85 to ..... of the false declaration made by the petitioners the goods were improperly cleared without payment of duty, then under section 72 read with section 61 of the customs act, the duty is recoverable with interest. it was held that if the adjudicating authority was entitled to recover the duty with interest, then the settlement commission exercising .....
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