Court : Mumbai Aurangabad
..... ) discussed the provisions under section 269-ss and 271-d of the income tax act which were dealt with in the matter of krishna janardhan bhat (supra) as well as the judgment in the matter of sanjay mishra (supra) as well as the provisions under section 138 of the act to find that there was no prohibition to recover the amounts not disclosed in the income tax returns. ..... stated that in the present matter complainant claimed to have lent rupees one lakh and although complainant claims to be business-man, admittedly he does not pay any income tax and at the time of evidence he tried to claim that the amount was available with him from sale proceeds of house but no such document was proved. 9. ..... trial court has held that the notice exhibit 35 was served on the accused, if exhibit 41 the unsigned notice is seen which was taken out from envelope exhibit 26(1) which was sent to the accused, what must be held is that an unsigned document in the form of notice was sent. ..... trial court observed that the complainant was making different claims regarding sale of house and apart from not filing the documents, complainant was some time claiming that he advanced share to his brother and some time claimed that the brother did not ..... for both sides and seen the various judgments they are relying on, i am keeping the law as is reflected from above arguments and counter arguments in view and i proceed to consider the facts of the present matter to see if offence under section 138 of the act is proved. 16. .....
Tag this Judgment!Court : Mumbai Aurangabad
..... of section 226(4) and (5) of the income tax act need to be kept in mind by officers of the central excise and it is their duty to see that in such cases information is given to the income tax department also ..... the provision of section 110(2) of the customs act shows that when the goods are seized under sub section (1) of section 110 and notice in respect of such goods is not given, under clause (a) of section 124 of customs act within six months from the date of seizure, the goods shall be returned to the person from whose possession they were ..... is no plausible explanation with the petitioner and there is nothing with him to show that he got such income from which he could have accumulated cash amount of rs.45 lakh. ..... tried to say that it was his own income and it was his income from profession as tax consultant. ..... his contention that the aforesaid show cause notice was not given to him within six months from the date of seizure and so he is entitled to get back the amount in view of provisions of section 110(2) of the customs act, 1962. 18. ..... thus the scheme of the act shows that it was necessary to issue notice within six months from the date of seizure in the present case ..... directorate general of central excise (intelligence) regional unit pune that aforesaid company was evading central excise duty by not maintaining account of manufacturing of ms/tnt bars and it was involved in clandestine removal of this product from the factory premises without payment of central excise duty. .....
Tag this Judgment!Court : Mumbai Aurangabad
..... january, 2013 and submitted that, the application of the petitioner was rejected on the grounds that, the petitioner has not submitted income tax returns as well as the petitioner has not shown source of income of the members of the society as well as the petitioner has not shown source in respect of rs.11,00,000/-. ..... in their affidavit in reply that, all seven members of the petitioner trust were required to submit their income tax returns disclosing their source of income for organizing the funds for running social club/card room. ..... it is submitted that, statute and rules does not provide for submitting income tax returns, source of income, audit report of the society and therefore, the said grounds for rejecting the application for grant ..... sub-section 1 of section 14 of the arms act, 1959, reads thus: "refusal of licences (1) notwithstanding anything in section 13, the licensing authority shall refuse to grant - (a) a licence under section 3, section 4 or section 5 where such licence is required in respect of any prohibited arms or prohibited ammunition; (b) a licence in any other case under chapter ii, - (i) where such licence is required by a person whom the licensing authority has reason to believe (1) to be prohibited by this act or by any other law for the time being in force from requiring, having ..... given information in respect of 7 members of the petitioner trust and stated that, the income tax returns of the said members cannot be made available as they are not in service .....
Tag this Judgment!Court : Mumbai Aurangabad
..... as under, were pressed before this court in that tax appeal:- (1) whether an amount, for which a provision is made in the books of account by the assessee (a sugar factory), who maintains accounts on the mercantile basis, towards contribution made to a recognised research institute, can be allowed as a deduction under section 35(1) of the income tax act, 1961, if the amount is not actually paid in the ..... income tax department the difference between the market price and the sell price of sugar needed to be added as an income of the assessee under section 40a (2) of the income tax act, 1961 (for the sake of brevity, hereinafter referred to as the it act ..... market price of sale of sugar and price of the sale of a small quantity of sugar made by the assessee (a sugar factory) to it's sugarcane producer members at a concessional rate, can be added in the income of an assessee under section 40a of the income tax act, 1961? 2. ..... in paragraph 7 , it is observed that income tax act, being a taxing statute, must be given strict interpretation and if the plain reading favours the assessee, interpretation in favour of ..... in paragraph 6 the result of the discussion is summed up by observing that -- the very language of sub-section (2)(a) of section 40a indicates that it applies only where the assessee is the purchaser of goods orreceiver of the services for which he makes ..... it purchases sugarcane from it's producer members ..... tax appeal 25 of 2008 was a cooperative sugar factory manufacturing sugar from .....
Tag this Judgment!Court : Mumbai Aurangabad
..... as under, were pressed before this court in that tax appeal:- (1) whether an amount, for which a provision is made in the books of account by the assessee (a sugar factory), who maintains accounts on the mercantile basis, towards contribution made to a recognised research institute, can be allowed as a deduction under section 35(1) of the income tax act, 1961, if the amount is not actually paid in the ..... income tax department the difference between the market price and the sell price of sugar needed to be added as an income of the assessee under section 40a (2) of the income tax act, 1961 (for the sake of brevity, hereinafter referred to as the it act ..... market price of sale of sugar and price of the sale of a small quantity of sugar made by the assessee (a sugar factory) to it's sugarcane producer members at a concessional rate, can be added in the income of an assessee under section 40a of the income tax act, 1961? 2. ..... in paragraph 7 , it is observed that income tax act, being a taxing statute, must be given strict interpretation and if the plain reading favours the assessee, interpretation in favour of ..... in paragraph 6 the result of the discussion is summed up by observing that -- the very language of sub-section (2)(a) of section 40a indicates that it applies only where the assessee is the purchaser of goods orreceiver of the services for which he makes ..... it purchases sugarcane from it's producer members ..... tax appeal 25 of 2008 was a cooperative sugar factory manufacturing sugar from .....
Tag this Judgment!Court : Mumbai Aurangabad
..... apex court after hearing extensive arguments on the applicability of section 40-a(2) of the income tax act, 1961, as it stood at the relevant time, has found that a large number ..... follows: whether the abovementioned differential payment made by the assessee(s) to the cane growers after the close of the financial year or after the balance sheet date would constitute an expenditure under section 37 of the income tax act, 1961; and whether such differential payment would, applying the real income theory, constitute an expenditure or distribution of profits? ..... given case, if the assessee has made a provision in its accounts, then the assessing officer shall enquire whether such provision is made out of profits or from gross receipts and whether such differential payment is relatable to the cost of the sugarcane or whether it is relatable to the division of profits amongst the members ..... an obligation to pay another, a portion of one's own income, which has been received and since appropriated; while the first type of payment which is diverted before it reaches to the assessee, tantamounts to alienation of income and is not exempt from tax. ..... profits because appropriation would arise only after the profits are determined and profits can be determined only after all the expenses incurred for the business are deducted from the gross income. ..... of payment which can not be excused from taxation and not the second. ..... orders of assessment before us also suffer from the defects pointed out by hon. .....
Tag this Judgment!Court : Mumbai Aurangabad
..... apex court after hearing extensive arguments on the applicability of section 40-a(2) of the income tax act, 1961, as it stood at the relevant time, has found that a large number ..... follows: whether the abovementioned differential payment made by the assessee(s) to the cane growers after the close of the financial year or after the balance sheet date would constitute an expenditure under section 37 of the income tax act, 1961; and whether such differential payment would, applying the real income theory, constitute an expenditure or distribution of profits? ..... given case, if the assessee has made a provision in its accounts, then the assessing officer shall enquire whether such provision is made out of profits or from gross receipts and whether such differential payment is relatable to the cost of the sugarcane or whether it is relatable to the division of profits amongst the members ..... an obligation to pay another, a portion of one's own income, which has been received and since appropriated; while the first type of payment which is diverted before it reaches to the assessee, tantamounts to alienation of income and is not exempt from tax. ..... profits because appropriation would arise only after the profits are determined and profits can be determined only after all the expenses incurred for the business are deducted from the gross income. ..... of payment which can not be excused from taxation and not the second. ..... orders of assessment before us also suffer from the defects pointed out by hon. .....
Tag this Judgment!Court : Mumbai Aurangabad
..... ), is liable to be disallowed under section 40a(2) and 37(1) of the income tax act, 1961 and computed as taxable income of the assessee? 8. ..... allowed the appeal and held that the sugarcane purchase price paid to the members as well as non members cannot be disallowed by invoking provisions of section 40a(2) and 37(1) of the income tax act, 1961. ..... the judgment and order passed by the cit (appeals), pune, on 03.02.2009 and confirmed by the income tax appellate tribunal, pune bench, pune, on 27.10.2009, is quashed and set aside and the matter is remitted back to cit (appeals), pune for consideration of the questions set out above, in the light of the ..... assessment order for the assessment year 2006-2007, the deputy commissioner of income tax, ahmednagar circle, ahmednagar, disallowed the claim in respect of excess purchase price ..... 2012, wherein the supreme court has observed thus: "the question whether the above difference between the fair market price and the concessional price should or should not be added to the total income of the assessee (s) society, needs to be re-looked by commissioner of income tax (appeals) (for short, 'cit (a)'). ..... society purchases sugarcane both from members and non members ..... fixed for sale to farmers/cane growers/members each year on month-to-month basis, apart from diwali? ..... apart from the afore-stated question, cit (a) would take into account, whether the above-mentioned practice of selling sugar at concessional rate has become the practice or custom in the co- .....
Tag this Judgment!Court : Mumbai Aurangabad
..... by the respondent that, prior to filing this miscellaneous civil application, the respondent has filed proceedings bearing miscellaneous criminal application no.113 of 2012, before the principal seat of this court for transfer of proceedings from aurangabad to panvel court, but the applicant only with a view to counter blast the miscellaneous criminal application no.113 of 2012, has filed the present miscellaneous civil application by suppressing the material facts and therefore ..... it is not in dispute that, the applicant herein has filed criminal miscellaneous application no.1106 of 2011 under sections 12, 18, 19, 20, 22 and 23 of the protection of women from domestic violence act, 2005 before the judicial magistrate first-class, at aurangabad on 22nd july, 2011 and those proceedings are pending before ..... also invited my attention to paragraph nos.5 and 6 of the affidavit in reply and submitted that, the applicant is trying to impress the office of the said bank and also the income tax authority not to disclose certain information about deduction of t.d.s. ..... , 2011, the applicant herein filed criminal miscellaneous application no.1106 of 2011 under sections 12, 18, 19, 20, 22 and 23 of the protection of women from domestic violence act, 2005 before the judicial magistrate first-class, at aurangabad. ..... intimated her bank of not disclosing her income received from her profession to the respondent or his parents ..... that, the applicant has tried to suppress the fact of her professional income. .....
Tag this Judgment!Court : Mumbai Aurangabad
..... at this stage, we may also usefully refer to section 7 (1) of the act which lays down that sections 81, 82 and 94 of the indian trusts act, 1882 (2 of 1882), section 66 of the code of civil procedure, 1908 (5 of 1908), and section 281-a of the income-tax act, 1961 (43 of 1961), are thereby repealed. ..... a view is to be taken that a pending suit wherein plaintiff might have contended the real consideration flowed from him and the defendant was not the real owner and held that the property benami as per section 82 of the indian trusts act, 1882, has to be continued by ignoring the present act, it will be inconsistent with the conclusion reached by the division bench. ..... under section 43 of this act, when the property is already registered under the trusts act, the property is deemed to be registered from the date of coming into force of the act under the act also ..... , interpretation of section 4 (1) by the division bench would directly conflict with the legislative scheme emanating from section 82 of the indian trusts act 1882 read with section 6 of the general clauses act discussed above. ..... if any person refuses or fails to comply with the order of eviction within forty-five days from the date of affixture of the order under sub-section (2), the chief executive officer or any other person duly authorised by him in this behalf may evict that person from, and take possession of, the waqf property." 19. ..... is this right which got destroyed by section 7 of the act with effect from 19th may, 1988. .....
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