Court : Rajasthan
Reported in : (2007)207CTR(Raj)452; [2007]289ITR425(Raj); RLW2006(1)Raj818; 2006(2)WLC33
..... assistant commissioner has preferre appeal before the tribunal and the tribunal had affirmed the order of the cit (a] peals), hence, this appeal under section 260a of the income tax act, 1961.6. section 32ab had been inserted in income tax act, 1961 vide finance act, 1966 w.e.f. 1.4.1987 and the benefit extended under the said provisions was ..... be culled out with reference to section 32ab(5) can be stated thus, that from the perusal of sub-section (5) of section 32ab of the income tax act, 1961 for claiming deduction under section 32ab, it is apparent that compliance of section 2 is necessary'. the first requirement is that the statement of accounts for the ..... that in order to entitle to claim development allowance provided in section 33a of the income tax act, 1961, it is not mandatory within the meaning of rule 8a(d) of the income tax rules, 1962 that the assessee should furnish to the income tax officer, the certificate from the tea board in the prescribed form along with the report .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)199CTR(Raj)305; [2006]281ITR177(Raj)
..... profit in order to determine the 30 per cent of its profits in terms of section 115j as minimum income chargeable to tax in a particular assessment year, where the chargeable income assessed in accordance with the provisions of it act, 1961, is less than 30 per cent of book profit so arrived at, the 30 per cent of the ..... , 1988 by it act, 1961 and later on by introducing section 115ja w.e.f. 1st april, 1997 vide finance act, 1996, was to secure minimum tax on the basis of admitted profits earned by the company for the purpose of distributing the dividends if the computation of income in accordance with the provisions of it act yield lesser income. the provision ..... book profit so arrived at under sub-section (1a) may be taken as the chargeable income to the tax by this deeming provision.14. apparently .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)197CTR(Raj)1; [2006]283ITR486(Raj); 2004(3)WLC425
..... present case, the natural product through vegetation growth is the green tea leaves. its subjection to income-tax depends on who brings it into the market, and at what stage. it is relevant to mention here that under the it act, 1961, agricultural income is not taxable as the same is exempted under section 10(1) from the charge of ..... tax. agricultural income has been defined under sub-section (1a) of section 2, which reads as under :'(1a) : 'agricultural income' means-- (a) any rent or revenue derived from land ..... to it and converts it into a different commodity or applies process for the purpose of marketing. in their hands the income is not agricultural income and is subject to tax under the act of 1961. for such persons the produce purchased serves as raw material or the original material to which process is applied, if as .....
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 : Rajasthan
Reported in : [2005]147TAXMAN61(Raj)
..... karan singh air 1957 all. 414, sukhendru bikash barua v. hare krishnade air 1953 cal. 636 and barham dutt v. people's co-operative transport society air 1961 punj. 24, it was held that the jurisdiction vested in the high court under: article 227 is a revisional jurisdiction and accordingly on intra court appeal is ..... writ of certiorari. with regard to the character and scope of writ of certiorari following proportions may be taken as established(i) the court issuing certiorari acts in exercise of supervisory and not appellate jurisdiction;(ii) certiorari will be issued for correcting errors of jurisdiction;(iii) the power of issuing a writ of ..... tribunals, inferior to high court, have done what they were required to do. the high court can interfere under article 227 in cases of erroneous assumption or acting beyond its jurisdiction, refusal to exercise jurisdiction, error of law apparent on record as distinguished from a mere mistake of law, arbitrary or capricious exercise of authority .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)195CTR(Raj)243
..... of assessee on 24th march, 1997 under section 132 of the it act, 1961. in response to the notice to file return, the assessee filed a return of the block period by showing the income for asst. yrs. 1988-89 to 1997-98 as per the income-tax return for the respective assessment years and undisclosed income in the sum of rs. 41,220 for 20 days ..... of house which was not accepted by the ao and he referred the question of construction of cost of the house to the valuation officer under section 55a of the it act, 1961. the valuation officer submitted a report to the ao. on the basis of report, the ao reopened the assessment in respect of the asst. yr. 1982-83 and made ..... generally computing the assessee's taxable income the respondents say he can, and have referred us to sections 131(1)(d) and 133(6) of the act. section 131(1) of the act is in pari materia with section 37 of the wt act and section 133(6) of the act is substantially similar to section 38 of the wealth-tax. on parity of our earlier .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)196CTR(Raj)68; 2005WLC(Raj)UC438
..... a challenge is given by the petitioner to proposal to launch prosecution under section 276b of it act, 1961, for failure on part of petitioner to deduct tax at source in terms of section 194a of the act of 1961. notices impugned are placed on record as annexs. 13, 14 and 15, all dt. ..... as under:'4. section 271 deals with consequential failure to furnish returns, comply with notices and concealment of income, etc. sub-clause (1)(a) as it stood prior to 1989 is extracted as follows :'(a) has failed to furnish the return of total ..... income which he was required to furnish under sub-section (1) of section 139 or by notice given under sub-section (2 ..... in the manner required by sub-section (1) of section 139 or by such notice as the case may be, or'the direct tax laws (amendment) act, 1989, omitted the aforesaid provision w.e.f. 1st april, 1989. it is significant to notice that the omission of a .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2005(1)Raj682; 2005(1)WLC548
..... such areas;(i) seeking clarifications from the sarpanch and members of the panchayat about any particular activity, scheme, income and expenditure;(j) identification and approval of development works in order of priority from out of the works recommended ..... been a clear transgression of the constitutional principles.'16. in burrakur coal company v. union of india (air 1961 sc 954), the apex court observed:'where the validity of a law made by a competent legislature is challenged ..... self-government. under article 243h, the state legislature may confer power on panchayats to levy and collect specified taxes, duties, tolls and fees. article 243i mandates the state government to constitute a finance commission after every five ..... are, indeed, landmarks.26. part ix under the heading 'the panchayats' as inserted by the constitution (seventy-third amendment) act, 1992 is reproduced as follows:'part ixthe panchayats243. definitions.--in this part, unless the context otherwise requires,--(a) 'district' .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)194CTR(Raj)84
..... date on which the order under sub-section (3) of that section is made by him, or(v) in a case where an application made before the income-tax settlement commission under section 245c is rejected by it or is not allowed to be proceeded with by it, the period commencing from the date on which such application ..... given retrospective operation so as to allow upsetting of proceedings which had already concluded and attained finality.''the amendment to sub-section (1) of section 150 of the it act, 1961, extending the bar of limitation in cases of orders passed by a court in proceedings under any other law is not expressed to be retrospective and, therefore, ..... relevant to notice in brief the legislative history of the two explanations. when the chapter x1v-b consisting of sections 158b to 158bh was enacted and inserted in it act, 1961, by the finance act, 1995, w.e.f. 1st july, 1995, no explanations were enacted. neither any provision for exclusion of any period for any reason in computing period .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)191CTR(Raj)303; [2005]277ITR166(Raj)
..... or deemed to have been received in india by or on behalf of such person. it held that under section 5(1) of the it act, 1961, charge of tax net is wide enough to include all income received or deemed to be received, accrued or arisen or deemed to have accrued or arisen to a person in india or outside india.12 ..... in sikkim or not. if the winnings from lottery were not to be taxed in sikkim state, on the principle of double taxation, the income will be exigible to tax under the it act, 1961. this result destroys the premise that it act, 1961, cannot have extra-territorial operation in respect of income accruing or arising in sikkim, leaving apart the taxability on the basis of ..... the assessee regarding its claim to non-exigibility of the winnings from lottery announced by the sikkim government and received by the assessee on either ground, to income-tax under the act of 1961.11. the tribunal had found on facts that the assessee is an ordinary resident of india to whom the provisions of the .....
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