Court : Mumbai
Reported in : [1963]48ITR404(Bom)
..... is whether the said expression as used in section 30(1) has that meaning. it is well settled that the expression 'assessment' has been used in the income-tax act in different senses at different places. what is the correct connotation of the expression in a given provision must be determined on an examination of the said provision ..... year 1950-51 is the sum of rs. 20,933 or that sum increased by the sum of rs. 11,860 (2) whether section 23a of the income-tax act, 1922, is ultra vires the legislature (3) whether any appeal lies to the appellate assistant commissioner against levy of penal interest correctly computed in accordance with the provisions ..... appeal was confirmed by the tribunal, relying on the decision of this court in commissioner of income-tax v. jagdish prasad ramnath. 8. the provision relating to appeals from the order of the income-tax officer is contained in section 30 of the income-tax act. that section does not specifically provide for an appeal against the levy of a penal .....
Tag this Judgment!Court : Mumbai
Reported in : (1955)57BOMLR425; [1955]27ITR684(Bom)
..... , the first previous year which must be taken into consideration is the year 1949 and not the year 1948. now, 'previous year' is defined in the income-tax act itself and it is a period of 12 months according to the method of accounting of the assessee. a previous year is never a broken period of a ..... few months. undoubtedly, the company is liable to pay tax on the profits made by it during this broken period, but the income-tax act provides a special machinery for taxing an assessee whose business is discontinued during particular period. therefore, for the purpose of the income-tax act the period 1st january, 1949, to the 30th april, 1949, ..... and its business was discontinued, but as we said before, although the income-tax act might lay down the machinery and provide the procedure for assessing the income of the company during this broken period, it does not follow that for the purpose of the income-tax act this broken period becomes the previous year for the purpose of the proviso .....
Tag this Judgment!Court : Mumbai
Reported in : (1960)62BOMLR11
..... petition against respondents 2 and 3. (67) the petition was filed and rule nisi was granted before section 49ee as inserted in the income-tax act by section 3 of the income-tax (amendment) act, 1959. the petition was, therefore, allowed to be amended. a further amendment of the petition was sought by mr. amin in the ..... duly recorded by the commission.(5) in the meanwhile, s. 34 of the indian income-tax act was amended by the income-tax and business profits tax (amendment) act, 1948 (act 48 of 1948). under section 34, after it was amended. if (a) the income-tax officer had reason to believe that by reason of the omission or failure on the ..... fall to be determined: (i) whether the union parliament was competent to enact section 3 of the indian income-tax (amendment) act. 1959 (act no. 1 of 1959) whereby section 49ee was incorporated in the indian income-tax act, 1922, prohibiting the entertainment of claims for refund of money paid or security furnished pursuant to settlements relating to .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1960Bom353; [1960]40ITR624(Bom)
..... petition against respondents nos. 2 and 3. 83. the petition was filed and rule nisi was granted before section 49ee was inserted in the income-tax act by section 3 of the income-tax (amendment) act, 1959. the petition was, therefore, allowed to be amended. a further amendment of the petition was sought by mr. amin in the ..... duly recorded by the commission. 6. in the meanwhile, section 34 of the indian income-tax act was amended by the income-tax and business profits tax (amendment) act, 1948 (xlviii of 1948). under section 34 after it was amended, if (a) the income-tax officer had reason to believe that by reason of the omission or failure on the part ..... provisions do not provide for any payment of interest and result in discrimination between payments made under a settlement and advance payment under the provisions of the income-tax act. 85. in order to examine the arguments on the several points canvassed before us by learned counsel on either side on this question of constitutionality of .....
Tag this Judgment!Court : Mumbai
Reported in : (1988)70CTR(Bom)53; [1988]173ITR164(Bom)
..... also issued to mazgaon dock ltd. (respondent no. 7), three notices dated august 10, 1985. september 11, 1985 and september 13, 1985, under section 226(3) of the income-tax act, 1961. under these notices, mazgaon dock ltd. was informed that sums of rs. 15,73,727, rs. 8,82,253 and rs. 3,67,55,170 were due from the petitioner ..... services of a technical nature for a period of less than 90 days, the petitioner reasonably believed that their salaries were exempt from income-tax under section 10(6)(vi) and section 10(6)(viii) of the income-tax act, 1961, for the assessment year 1979-80. the petitioner has filed with the respondents full particulars in respect of each of these 291 employees ..... , much less interest or penalty, if any, payable by the petitioner. the notices, therefore, are contrary to the provisions of section 226(3) of the income-tax act, 1961. the respondents are liable to return the amount of rs. 3,92,11,150 together with interest thereon at the rate of 15% p. a. to mazgaon dock .....
Tag this Judgment!Court : Mumbai
Reported in : [2001]248ITR659(Bom)
..... officer (tro), ward no. 24, mumbai, vide order dated november 17, 1989, attached the above flat under schedule ii to the income-tax act, 1961, on account of tax arrears outstanding in the case of the assessee by name vinod bhatia. the attachment has since been continued. by letter dated march 31, 1994, addressed by the advocate on behalf ..... in refusing to adjudicate upon the claim of the petitioner under rule 11 of the second schedule to the income-tax act, 1961, on the ground that the assessing officer has declared the gift deed dated december 2, 1986, as void under section 281 of the act. the gift deed is in favour of the petitioner. it pertains to flat no. 23, 'belle view', bhulabhai .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1981]127ITR378(AP)
..... 69 ?3. whether, on the facts and in the circumstances of the case, there was compliance by the assessee with the conditions stipulated in section 11(2) of the income-tax act, 1961, for the assessment years 1966-67, 1967-68 and 1968-69?4. whether, on the facts and in the circumstances of the case, the whole or any portion ..... of the income assessed by the income-tax officer is liable to be taxed in the assessee's hands on the ground of non-fulfilment of the conditions stipulated in section 11(2) of the income-tax act, 1961, for the assessment years 1966-67 and 1968-69 ?'2. questions nos. 1 ..... following four questions have been referred to us under section 256(1) of the i.t. act for decision :'1. whether, on the facts and in the circumstances of the case, the reassessment made by the income-tax officer under section 147 of the income-tax act, 1961, for the assessment year 1966-67 is valid ?2. whether, on the facts and in the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1971]80ITR656(MP)
..... legal position be different when a registered firm is assessed on the footing that it is an unregistered firm for imposing penalty? section 271(2) of the income-tax act, 1961, creates a statutory fiction by direction a registered firm to be treated as an unregistered firm for the computation of penalty. it has been well said that ..... a registered firm under section 271(1) read with section 271(2) of the income-tax act, 1961, the tax payable by such firm should be determined without deducting the advance tax paid by the partners under section 18a of the income-tax act, 1922, from the gross tax payable by the firm on the basis that it was an unregistered firm.11. there ..... (1) read with section 271(2) of the income-tax act, 1961, the tax payable by such firm should be determined after deducing the advance tax paid by the partners under section 18a of the indian income-tax act, 1922, in respect of their shares of profits from the firm from the gross tax payable by the firm on the basis that it .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1951SC111; [1950]191ITR182(SC); (1951)IMLJ328(SC); [1950]1SCR969
..... it on or on the 1st january, 1943, when the business was sold by them as a going concern 9. the business being admittedly one which was charged to tax under the income-tax act, 1918, if there was no succession within the meaning of section 25(4) until the sale took place, as the appellants contend, the profits and gains of the ..... on for the benefit or loss of the testator's estate is not relevant for the present discussion. the only relevant question under section 25(4) of the indian income-tax act is whether in respect of the business there is a succession to another person. this is a provision to give relief and the scope of the relief must be ..... as assessee. thus there came about a change in the assessee and therefore 'a succession in such capacity' took place within the meaning of section 25(4) of the income-tax act. it seems clear that if the testator had transferred the business to a trustee, although the trustees will not be the beneficial owners, in law there will be a succession .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996VIIIAD(SC)238; AIR1997SC215; [1997]223ITR297(SC); JT1996(9)SC419; 1996(7)SCALE658; (1996)11SCC632; [1996]Supp7SCR523
..... kindly be set aside.9. in the prayer clause of the said application it has been stated that above application is filed under rule 60 of schedule ii of income tax act. 1961 and the sale be set aside by accepting the amount deposited by him. it is, of course, true as contended by learned senior counsel shri rao for ..... 2 in these special leave petitions had any locus standi to prefer an application under rule 60 of the second schedule to the income tax act, 1961 for setting aside the sale of immovable property of the defaulter income tax assessee from whom he is alleged to have greed to purchase the said property and which property was sold in auction by the ..... the light of the aforesaid rival contentions we now proceed to deal with the question posed for our consideration. rule 60 of the rules in the second schedule to the income tax act reads as under:60. (1) where immovable property has been sold in execution of a certificate, the defaulter, or any person whose interests are affected by the .....
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