Array
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    [0] =>  .....  of tax are contained in chapter xvii of the act, and they have been collected under the following headings:- c. - advance payment of .....  not justified in directing the assessing officer to treat the said sum as advance-tax for purposes of calculating the interest leviable under sections 139(8) and 217(1)(a). in our opinion going as it does against the scheme of the income-tax act, 1961 relating to collection and recovery of tax, the said contention lacks force.13. the provisions relating to collection and recovery ..... 
    [1] =>  .....  were by dealing first with the exigibility issue relating to the cash compensatory support received by the assessee. with the 1990 amendment to sections 2(24), and 28 of the income-tax act, 1961, the decision of the special bench of the itat delhi, in the case of gedore tools (india) (p.) ltd. (supra), is no longer good law. the amendments are  .....  of reduction in the contract price by 1/2 per cent per week of contract value in the case of delay is not a liability in praesenti the commissioner of income-tax (appeals), madras vi, in his order in it appeal no. 137 of 1984-85 dated 15-3-1985 in the case of seshasayee industries ltd. for the assessment  ..... the required extent, the customers used to pay the invoice amount in full, leaving the penalty matter to be decided separately.8. in the context of its assessment to income-tax, the assessee was naturally faced with the problem of the treatment to be given to the penalty that it had rendered itself liable to pay, owing to the delay in ..... 
    [2] =>  ..... of vouchers. some disallowance was also made out of travelling expenses.it may be mentioned that the ito has issued a notice under section 271d of the income-tax act, 1961 on finding that the assessee has accepted loan or deposit in contravention of section 269ss and such notice was issued on 10-2-1992 posting the case  ..... vettri wines, tirupur v. ito.2. the question on which we have differed is referred to the hon'ble president, itat under section 255(4) of the income-tax act, 1961. the question on which there is a difference between the members of the bench is as under : "whether, on the facts and in the circumstances of the  .....  expected, that would be a ground for the commissioner of income-tax to interfere under section 263 of the income-tax act, 1961, with the order passed by the income-tax officer, since, such an order passed by the income-tax officer is erroneous and prejudicial to the interest of the revenue. the income-tax officer is not only an adjudicator but also an investigator.  ..... 
    [3] =>  ..... case. it was further submitted that in the case of rajapalayam mills ltd. v. cit, 115 itr 777 hon'ble supreme court (in the context of indian income-tax act, 1922) held that there was nothing in section 15c(3) or any other provisions of the act which required that in computing the profits or of a new industrial undertaking under section  .....  1. this appeal by the assessee for a.y 1995-96 is directed against order under section 263 of the i.t. act, 1961 dated 09-03-2004 passed by the commissioner of income-tax, chennai-iv. the only issue for consideration relates to setting off of loss of earlier years brought forward notionally for the purpose of deduction under section 80 .....  has to be computed in accordance with the relevant provisions of the income-tax act. he relied on the decision of hon'ble bombay high court in the case of synco industries ltd. v. assessing officer of income tax 254 itr 608 and of the calcutta high court in the case of cit v. balmar lawrie & co. ltd. 215 itr 248. he  ..... 
    [4] =>  ..... into one under section 34(1)(a) then the conditions prescribed in section 34(1)(a) cannot be satisfied.under the income-tax act, 1961 (there is no such express requirement under the wealth-tax and gift-tax acts), it is expressly required by section 148(2) that the ito shall, before issuing any notice under this section,  .....  itr 439, the supreme court observed (again with reference to the proceedings under section 34(1)(a) of the indian income-tax act, 1922), as under : the formation of the required opinion by the income-tax officer is a condition precedent. without formation of such an opinion he will not have jurisdiction to initiate proceedings under section .....  to fulfil that condition would vitiate the entire proceedings. as held by this court in sheo nath singh v. appellate assistant commissioner of income-tax, the income-tax officer would be acting without jurisdiction if the reason for his belief that the conditions are satisfied, does not exist or is not material or relevant to the ..... 
    [5] =>  .....  are private discretionary trusts. a single common issue arises for consideration in these cases. and that is whether the assessee-trusts are entitled to deduction under section 80l of the income-tax act, 1961.2. the assessing officer took the line, first, that the status of the assessees must be taken as that of 'association of persons' and, secondly, that the assessees are not .....  such cases, the proviso stipulated that the tax shall be levied and recoverable at the maximum rate.43. the same scheme was continued in the new act also. thus, section 164 of the it act, 1961 (which occurs in "c-representative assessees-special cases" of chapter xv of the act) imposes a heavier liability upon the trust income where the income is not specifically receivable on behalf or ..... 
    [6] =>  ..... : whether, on the facts and in the circumstances of the case, it has been rightly held that the provisions of section 64(1)(ii) of the income-tax act, 1961, would not be applicable and, therefore, the share income arising to the minor daughters of the assessee have to be deleted 13. the high court answered the reference against the assessee and in favour of .....  of the appeal filed by the assessee before the cit(a). the assessee's case before the first appellate authority was .....  called m/s kalyan chakravarthy theatre, the assessing officer brought to tax in the hands of the assessee a sum of rs. 9,489, being the said lady's share in the income of the said firm.this he did invoking the provisions of section 64(1) (i) of the i .t.act, 1961.3. the said addition was one of the subject-matters ..... 
    [7] =>  .....  credit. relying on the said factum of credit sales to its members, the assessee claimed the benefit of section 811(a) - (analogous to section 80p(2)(a)(t] of the income-tax act, 1961). the tribunal held that the supply to the members of printed stationery on credit amounted to providing credit facilities to its members. according to the tribunal, credit facilities can be .....  by the society engaged in a cottage industry within the meaning of section 14(3)(i)(b) of the indian income-tax act, 1922, or section 8 l(i)(b) of the income-tax act, 1961, as the case may be 64. on an examination of the issues involved in the case, the high court held that "the activities of the assessee-society to the extent  ..... 
    [8] =>  .....  assessment was completed by the ito on that basis. thereafter, the ito issued notice to the assessee under section 271(1)(c) of the income-tax act, 1961, for concealment of income and referred the matter to the iac. the assessee contended before the iac that inasmuch as he had filed the revised return voluntarily and that .....  to be false because the assessee has not admitted any undisclosed income in the statement recorded under section 132(4) of the income-tax act. it was also explained before the assessing officer that the assessee purchased coconuts from agriculturists and supplying them to m/s.mamaseth  .....  not be imposed for all the three years for concealment of income. it was explained by the assessee that the assessee has made a statement of his undisclosed income under section 132(4) of the income-tax act and also specified the manner in which such income has been derived. but this explanation of the assessee was found ..... 
    [9] =>  .....  be merely a movement or a journey from the headquarters to the place of destination. under the regulation of railway act, the conceptual parameters for such 'travelling' will be necessarily different from those involving the same phrase under a taxing act like the income-tax act, 1961. a relevant comment in craies on statute law (7th edition, p.133) is : in the interpretation of statutes, courts decline .....  1. the question to be decided in this appeal concerns the interpretation of section 37(3) of the income-tax act, 1961 ('the act') read with rule 6d of the income-tax rules, 1962. delhi bench 'e' of the tribunal had occasion to consider this aspect in the case of bharat commerce & industries v. ito [it appeal no. 53 and 538 (delhi)  ..... 
    [10] =>  ..... terrorem to make the people comply with the provisions of law.14. the requirements in s. 249(4) of the it act, 1961 brought on the statute book from 1st october, 1975, regarding the payment of tax on the admitted income returned cannot be said to be procedural or merely to regulate the exercise of the assessee's pre-existing right of  .....  regarding the maintainability of the appeal before this tribunal in respect of non-payment of the admitted tax on the returned income and to satisfy us about the non-applicability of the provisions of sub-s. (4) of s. 249 of the it act, 1961. a prayer was made by ravi that pending decision on the maintainability of the appeal in respect .....  of non-payment of the admitted tax on the returned income stay may be granted till a final decision is taken in this regard. this was also  ..... 
    [11] =>  .....  assessed under the head 'profits and gains of business or profession', the commissioner (appeals) held that the income should be assessed under the head 'income from house property' and as the shares of the co-owners were definite and ascertainable, section 26 of the income-tax act, 1961 ('the 1961 act') should be applied. this view has been upheld by the tribunal and it dismissed the appeal filed .....  by the revenue. thus the tribunal has decided that the rental income from the godown is assessable under the head 'income from house property' and not 'profits and gains of business or ..... 
    [12] =>  ..... , there being a difference of opinion between the members who first heard the case, it has been referred under section 24(11) of the wealth-tax act, 1957, read with section 255(4) of the income-tax act, 1961, to the third member. the questions proposed for the opinion of the third member are as follows : " 1. whether there is a nexus .....  to 847/mds/84, dated january 25, 1985. the maintenance amount received by mrs. shanta balachander was sought to be assessed under section 64(2)(b) of the income-tax act, 1961, in the hands of the assessee. in that order, the tribunal held that maintenance was an integral part of the partition ; that it was stipulated to be paid  .....  rendered by the appellate tribunal in the case of the same assessee cited supra relates to the interpretation of the provisions of section 64(2)(iv) of the income-tax act, 1961. in the present case, inasmuch as we came to the conclusion that the maintenance payable by the son to his mother has no nexus with the converted property ..... 
    [13] =>  .....  or accrued abroad in an earlier accounting year can only be charged to income-tax on remittance basis under s. 4(1)(b)(iii) of the indian it act, 1922.this provision has not been repeated by the it act, 1961. it means that there is no provision in the it act, 1961 to bring to tax such remittances. income cannot be received twice. in the cases of "non-residents" and "residents .....  ordinarily resident" for the asst. yrs. 1993-94 to 1996-97. sec. 5(1) of the it act, 1961 lays down the scope of total income of "residents and ordinarily residents" and "residents but not ordinarily residents". the "residents but not ordinarily residents" are chargeable to tax on income which accrues or arises to him outside india only in case if it is derived from a ..... 
    [14] =>  ..... in the balance sheet shall not be treated as assets, namely:-- (a) any amount paid as advance tax under section 18a of the indian income-tax act, 1922 (11 of 1922), or under section 210 of the income-tax act, 1961 (43 of 1961); (b) any amount shown in the balance sheet including the debit balance of the profit and loss  .....  contention that the reopening was valid and not otherwise. under section 148(2) of the income-tax act, 1961 ('the 1961 act') the ito has statutorily to record his reasons for initiating action for reopening an assessment before issuing any notice. under the 1961 act, therefore, where no reasons are recorded or if the reasons recorded are extraneous to the ..... the second circular is on a certain footing, which appears to us to be untenable and based on an incorrect view of the provisions of the income-tax act and the supreme court decisions.the aforesaid discussion would show that looking to the concept of contingent liability from an accountancy point of view provision for  ..... 
    [15] =>  ..... seized. on 28-10-1974 an order was made under section 132(5) of the income-tax act, 1961 ('the 1961 act') by the ito holding that the seized cash represented only part of the undisclosed income of the assessee which was estimated at rs. 4,21,000 and he determined the tax payable thereon at rs. 3,00,003. he, therefore, retained the cash of rs .....  of the seized cash of rs. 3 lakhs and get the benefit of a reduced rate of tax available under the scheme. notice under section 148 of the 1961 act was issued on 5-3-1976 and after the assessee filed returns of income for the earlier assessment years in accordance with the voluntary disclosure made by him showing rs. 3, ..... 62,980 spread over the assessment years 1971-72 to 1975-76, total tax due thereon was determined at rs. 1, ..... 
    [16] =>  .....  118 itr 447. first, that was a case decided under the income-tax act, 1961, which does not contain any provision analogous to section 16a of the wealth-tax act, 1957.secondly, that case turned on the interpretation of the word "record" in section 263 of the income-tax act, 1961 prior to the 1988 and 1989 amendments to that section. hence this .....  case cannot avail the assessee.24. in view of the foregoing, therefore, we hold that the commissioner rightly and validly took recourse to section 25(2) of the wt act .....  staled thus by ranganathan j. in the case of uday kaushish v. cwt [1982] 137 itr 906 (delhi): unlike under the it act, where the determination of the total income and tax payable by an assessee is a task that is and can be adequately faced and dealt with by the ito (except perhaps in very ..... 
    [17] =>  .....  previous owner. he argued that it is a simple case of applying the fiction created by s. 49 of the it act, 1961, in the light of the facts of the case, adopting the scaling down value adopted for the purposes of wealth-tax has absolutely no relevance here in determining the cost in certain mode of acquisition which has been clearly spelt out .....  income of rs. 12,27,323 which included long term capital gains of rs. 9,08,814. the ..... , pondicherry, for the asst. yr. 1994-95 against the order, dt.27th february, 1998, of the cit(a)-xiii, madras.2. briefly stated the facts of the case are that the assessee filed his return of income for the asst. yr. 1994-95 on 26th march, 1996 declaring total income of rs. 2,81,630 whereas the assessment was completed on a total ..... 
    [18] =>  ..... , madras-4, against the order passed by the cit(a)-v, madras, in the income-tax assessment for the asst. yr. 1992-93. the only ground raised by the assessee in this appeal is that the cit(a) erred in confirming the disallowance of the claim for deduction under section 48(2) of the it act, 1961, from the share of long term capital gains.2 ..... . the assessee is a partner in the firm, the foundry and engineering services (fes). in the return of income for the asst. yr. 1992-93 the .....  assessee admitted share income from the firm fes comprising of loss of rs. 1, ..... 
    [19] =>  .....  contained in chapter xiv-b of the it act, 1961 (hereinafter referred to as the act). the assessment has been framed under section 158bc of the act consequent to a search made on his premises. the assessee had filed a return consequent to a notice that was issued to him indicating therein the undisclosed income at rs. 63,93,720. the  .....  representative mr. narayanan raised a preliminary objection to the stay petition and this was that the provision contained in section 249(4) of the act required the payment of admitted tax on the income returned failing which the appellate authority could not admit the appeal. he contended that when the appeal itself is not maintainable and could not be ..... high court'. the chapter xx as indicated above has six parts and each part covers a particular appeal aspect considering the flow of events, the appeal to dy. cit(a) or cit(a) is placed at the start in part 'a' because it immediately follows the orders of assessment and part 'b' is an event that flows from ' ..... 
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