Court : Chennai
Reported in : (1998)148CTR(Mad)567
..... the it act, 1961, as there is no other provision in the act which creates a charge for tax on such ..... for and pay and discharge all levies, taxes and public charges whatsoever including income-tax and sales-tax due to any government or public authority.3 ..... submitted that as no liability had accrued for the amalgamating company, the amalgamated company cannot be made to suffer a tax liability for payment of which was not taken over by it and the tax demanded was not in respect of profits and gains of the amalgamated company but related to those of the amalgamating company ..... an order of assessment and that the liability for payment of levy under that section arises only after the ito makes an order and not at any earlier point ..... came to be made after the order of amalgamation and after the dissolution of the amalgamating company but on account of acts of omission and commission committed by the amalgamating company and its failure to carry out the obligation which were required ..... sent to the amalgamated company which resisted the same on the ground that the amalgamating company which had failed to distribute the statutory percentage of its distributable income was no longer in existence and therefore, no proceedings against a non-distingue company could be initiated or continued. ..... any point of time prior to the making of an order therein in accordance with the requirements of that section.7. ..... dispute that the order was made within the period of limitation prescribed under the section.2. .....
Tag this Judgment!Court : Gujarat
Reported in : [1975]98ITR85(Guj)
..... . (as he than was), after referring to the relevant provisions at pages 782 and 783, observes : 'the application by the petitioners for summoning the clerk of the income-tax department with the records in question was made in the present case in 1966, long after the indian income-tax act of 1922 had been repealed and section 137 of the income-tax act of 1961 had been omitted ..... . the division bench, at page 42, observes : 'the question them is whether at all, having regard to the character of the implications of section 137(1) and (2) of the income-tax act, 1961, section 6(c) of the general clauses act can be applied to its repeal ..... 1), has urged that in view of the provisions of section 138 of the income-tax act, 1961 (which will be hereinafter referred to as 'the act of 1961'), which came into force on 1st april, 1962, the documents produced in an assessment proceeding before the income-tax authority prior to the coming into force of that act as well as subsequent to the date of the coming into force of that act, and in spite of the omission of section 137 from the act of 1961, these documents cannot be permitted to be produced. ..... . of course, the commissioner of income-tax or any other competent authority shall be free to claim privilege under sections 123 and 124 of the indian evidence act, 1872, which will be determined by the court. 5 .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2004(4)Raj2424; [2006]144STC271(Raj); 2004(5)WLC331
..... patel (31), is also relating to imposition of penalty under section 271(1)(a) of the income tax act, 1961, and follows the principle laid in gujarat travancore agency's case (supra).123. ..... while repealing indian income tax act, 1922 under section 297(1) of the income tax act, 1961, certain transitory provisions were made in sub-section (2) of section 297 for the proceedings relating to assessment year completed on or before 31.3.1962, which fell otherwise within the act of 1922. ..... it was a case where the question arose about the penalty leviable under section 271(1)(a) of the income tax act, 1961 which provided penalty for delayed furnishing of return without reasonable cause, where there was an obligation to pay tax as was due as per return. ..... similarly, the levy of penalty for late filing of return which was found to be compensatory in nature was held to be absolute in gujarat travancore's case (supra); and another decisions under section 271(1)(a) of the income tax act, 1961. ..... jain case, clause (a) of section 271(1)(a) itself was omitted w.e.f. .....
Tag this Judgment!Court : Allahabad
Reported in : [2002]258ITR415(All)
..... the income-tax officer, relying on section 40(b) of the income-tax act, 1961 (hereinafter referred to as the 'act'), held that the allowance of payment by way of interest, bonus, commission or remuneration made by a firm to any of its partners is not permissible and this is an absolute ..... the income-tax officer further held that interest paid to the two partners had to be added back under clause (b) of section 40 of the income-tax act, 1961, while computing the income of the firm ..... [1965]58itr312(mad) , the division bench of the madras high court held that section 10(4)(b) enacts an absolute prohibition (which corresponds to section 40(b) of the income-tax act, 1961). ..... on the facts and in the circumstances of the case, the tribunal was legally justified in holding that the interest paid to the assessee was not includible in the hands of the firm under section 40(b) of the income-tax act, 1961 2. ..... the profit earned by prahladrai as a partner of the assessee-firm may become the income of the family which he represented in the partnership but that would not entitle the partnership to claim remuneration paid to the partner for services rendered as business expenditure under section 10(2)(xv) of the indian income-tax act. ..... out that the definition shows clearly that an individual, a hindu undivided family and a firm are distinct persons/entities for the purpose of the income-tax act. ..... 8,123 in the account of sri ..... 8,123 to shri ram prasad, were ..... 8,123 in the account of the partner, shri ram .....
Tag this Judgment!Court : Allahabad
Reported in : (2002)176CTR(All)577
..... the income tax officer, relying on section 40(b) of the income tax act, 1961 (hereinafter referred to as the 'act') held that the allowance of payment by way of interest, bonus, commission or remuneration made by a firm to any of its partners is not permissible and this is an absolute prohibition ..... cit (supra) the division bench of madras high court held that section 10(4)(b) enacts an absolute prohibition, (which corresponds to section 40(b) of the income tax act, 1961). ..... , on the facts and in the circumstances of the case, the tribunal was legally justified in holding that the interest paid to the assessee was not includible in the hands of the firm under section 40(b) of the income tax act, 1961 ?2. ..... income tax officer further held that interest paid to the two partners had to be added back under clause (b) of section 40 of the income tax act. ..... , the profit earned by prahladrai as a partner of the assessee-firm may become the income of the family which he represented in the partnership but that would not entitle the partnership to claim remuneration paid to the partner for services rendered as business expenditure under section 10(2)(xv) of the indian income tax act. ..... pointed out that the definition shows clearly that an individual; an hindu undivided family and a firm are distinct persons/entities for the purpose of the income tax act. ..... 8,123 in the account of sri ram prasad ..... 8,123 to shri ram prasad were allowable deductions ..... 8,123 in the account of the partner shri ram prasad .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1982)1ITD696(Mum.)
..... the assessee has made this appeal against the order of the commissioner passed under section 263 of the income-tax act, 1961 ("the act"), directing the ito to charge interest under section 139(8) of the act and also to initiate penalty proceedings under section 271(1)(a) of the act.2. ..... lordships of the madhya pradesh high court in the case of kantilal jain (supra) held that if during the pendency of the proceedings, which ultimately ended in the order of assessment, the ito has omitted to take notice of the facts attracting the provisions of section 273(6) relating to penalty for failture to file estimate of advance tax under section 212(3), the order would be erroneous and the commissioner would be entitled to exercise the revisionary power conferred on him under ..... karkhana zinda tilismath [1980] 123 itr 814 stating therein that even if there is no mention in the order of the ito charging interest under section 139(8) or for initiation of penalty proceedings under section 271(1)(a), then the commissioner is within his powers to direct him to do so, under section 263(2). ..... cit v.indian pharmaceuticals [1980] 123 itr 874, where they held as under : proceedings of assessment include not only computation of income and tax but various other things which fall within the scheme of chapter xiv of the it act, 1961, which talks of procedure of assessment. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1998)149CTR(MP)38
..... jain, j.by this application under section 482 of criminal procedure code the applicants seek quashment of the seizure of certain cash amount and primary silver, made under section 102 of criminal procedure code by the police, industrial area, ratlam, as also the subsequent handing over of the seized property to the income tax department under sections 132 and 132a of the income-tax act (hereinafter reffered to as 'the act').2. ..... in mohanlal in re, : [1973]87itr253(mad) , the madras high court has held :'(1) the statutory powers conferred on the income tax authorities to deal with the seizure cannot be interfered with by exercise of powers under section 439 or section 561a of the criminal procedure code, as proceedings before the commissioner are not criminal proceedings. ..... as already pointed out, the income-tax department has not only taken possession of the property but has also passed order under section 132(5) of the act. ..... the property has been taken away by the income-tax department in pursuance of the warrant issued under sections 132 and 132a of the act. ..... , it is contended that the police having seized the property under section 102 of criminal procedure code and reported the seizure to the magistrate, could not have handed over the property to the income-tax department without orders of the magistrate. ..... is also an assessee under the income tax act. ..... the assistant commissioner, has on 8-5-1995 passed order under section 132(5) of the act estimating tax liability of applicant no. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1999)152CTR(MP)412
..... 273a of the it act, 1961 (for brevity, hereinafter referred to as 'the act').learned counsel for the petitioner submitted that the order of the cit is founded on the premises that the petitioner has failed to pay the taxes levied on him nor has made any satisfactory arrangement for payment for the asst. ..... learned counsel for the petitioner was asked to point out from the petitioner whether he had made averment relating to the payment of the taxes and the arguments were advanced before the concerned authority and the concerned authority did not consider the same, the learned counsel was not able to point out any such averment in the ..... 1978-79 to 1981-82 and the same is bad as the cit has failed to consider the material and the argument of the lawyer as advanced in regard to the payment of the tax in respect of the aforesaid financial years.4. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1999)152CTR(MP)516
..... stock should have been valued at the market rate and it was proposed to initiate action under the act to bring to tax the income by adopting the market rate of silver, as on diwali, 1980. ..... it act, 1961 (hereinafter referred to as 'the act').3. ..... 148 of the it act, 1961, and seeks an order that the ..... . 147 of the act and the impugned notice and the proceeding correspondence indicate that the income is sought to be taxed on the non-existent ground that there was ..... all the documents were made available at the time of the assessment nor could it be said to be a case where the information was received by the ao subsequently to constitute foundation for a belief that the income chargeable to tax had escaped assessment in the said year ..... disclosed the entire material in the return, which had been accepted in the yearly assessment and there was no material available with the wto to form an opinion or to believe that any wealth chargeable to tax had escaped assessment, it was held that conditions for issuing notice under s ..... 188 of the it act, 1961, provides for cases of succession of one firm by another and excludes from its ambit the cases ..... the scheme of the sections appears to be that if a firm discontinues business or is dissolved without being succeeded by another firm, the case would be ..... per the method consistently followed by the firm, was not available in view of the law settled by the full bench in the aforesaid decision and there was no ground for proceeding under that section.11 .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1998)149CTR(MP)151
..... mathur, c.j.this is an application under section 256(2) of the income tax act, 1961 at the instance of revenue for calling statement of case from the tribunal on the following question of law :'whether on the facts and in the circumstances of the case, the tribunal was justified in law in deleting the penalty levied under section 271(1)(c) even after confirming the unexplained investment in questions appeal? ..... no question of law arises in this case to call for the statement of the case from the tribunal, consequently, this application under section 256(2) of the act is rejected. ..... while disposing of the appeal, the tribunal observed that in order to justify levy of penalty, there has to be some material or circumstances leading to the reasonable conclusion that the amount represented the income of the assessee of the particular assessment year. ..... the assessing officer imposed penalty under section 271(1)(c) of the act. .....
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