Court : Guwahati
..... of rs. 40,000 in the assessment year 1965-66 ' 2. this fact-oriented question has been referred by the income-tax appellate tribunal, gauhati bench, gauhati, under section 256(1) of the i.t. act, 1961, hereinafter referred as ' the act'. however, during the course of the argument, shri j.p. bhattacharjee, learned advocate-general, nagaland, appearing for the assessee ..... tribunal is of the opinion that the case should be remanded, it may remand it to the authority from whose order the appeal has been preferred or to the income-tax officer, with such directions as the tribunal may think fit.' 8. it must form an opinion judiciously and thereafter it can exercise the power of remand. a ..... law arising out of the order. 3. the pertinent facts necessary for disposal of the questions raised are as follows : on scrutiny of the accounts of the assessee the income-tax officer, for short 'the ito', found a cash credit entry in the name of m/s. surekha jute co. entered on june 17, 1964. however, the .....
Tag this Judgment!Court : Guwahati
..... notice, dated march 30/ 31, 1989, issued by the deputy commissioner of income-tax (assessment), special range-ii, guwahati, in the exercise of the power under section 148 of the income-tax act, 1961, for the assessment year 1985-86 proposing to reassess the income for the said assessment year and requiring the petitioner to submit a return of ..... the income in the prescribed form.2. for the purpose of disposal of this writ petition, ..... in order to issue notice under section 34(a) of the 1922 act corresponding to section 147(a) of the 1961 act, two conditions had to be satisfied, i.e., the income-tax officer must have reason to believe that income, profits or gains chargeable to income-tax had been underassessed and that he must have also reason to believe .....
Tag this Judgment!Court : Guwahati
..... surrendered to the government on the expiry of his licence.5. the income-tax act, 1961, was amended with effect from april 1, 1989, by inserting sections 44ac and 206c in the income-tax act. the methodology was introduced for collecting income-tax at source under section 206c of the income-tax act in respect of profits and gains from the business of trading in ..... -receipt of direction from your end. in fact, no such direction is required as the deduction is required to be made statutorily under the provisions of the income-tax act, 1961. however, two letters were addressed by the superintendent of excise and deputy commissioner of sibsagar as on february 24, 1994 and march 5, 1994, respectively ( ..... required forthwith for the arrears as well as the current liabilities.i am also enclosing a separate circular letter highlighting the provisions of section 206c of the income-tax act, 1961. i would like to have a few lines in reply by august 20, 1994 . . .' 9. by a letter dated december 6, 1994, .....
Tag this Judgment!Court : Guwahati
..... for the assessment year 1965-66 ended on april 9, 1965. on april 9, 1965, the assessee-filed an application under section 185 of the income-tax act, 1961 (hereinafter called 'the act'). the application was signed by the four partners who signed the memorandum and was accompanied by the partnership deed dated 1st february, 1964, and the memorandum ..... holding that the assessee-firm was not constituted under a valid instrument of partnership and so the assessee-firm was not entitled to registration under section 185 of the income-tax act, 1961, for the assessment years 1965-66 and 1966-67?'2. the material facts of the case may be briefly stated thus; 3. the assessee-firm, m/s ..... firm is liable to assessment. these two provisions clearly show that for the purpose of registration of a partnership firm for the purpose of the income-tax act, 1961, the act is primarily concerned with the names and addresses of the partners and their respective shares in the profit of the firm.10. an application for .....
Tag this Judgment!Court : Guwahati
..... by the petitioner firm within the jurisdiction of this court will arise as and when the authorities at guwahati initiate appropriate proceedings under the provisions of the income-tax act, 1961, against the petitioner and not before that. for recovery/return of the materials seized, the petitioner-firm has to approach the authority at delhi where ..... and the special audit report dated september 7, 2001. the notice dated march 15, 2001, has been issued under section 142(2a) of the income-tax act, 1961, for the assessment year 1998-99 directing the petitioner firm to get the accounts for the assessment year 1998-99 audited and to furnish the said report before ..... delhi, whereby the petitioner firm was directed to prepare a true and correct return of the total income including undisclosed income assessable for the block period from april 1, 1989, to june 23, 1999, under section 158b(a) of the income-tax act, 1961. in the month of june, 1999, on different dates, in pursuance of different warrants of .....
Tag this Judgment!Court : Guwahati
..... parties are that the appellants/writ petitioners are residents of thangal bazar, imphal, in the state of manipur and are existing assessees under the income-tax act, 1961 (hereafter referred to as 'the act'), enjoying income from house property, share of profit from their respective firms as well as from interest. during the year 1983-84, relevant to the ..... association of persons individually is no bar for assessment of the association of persons. though keeping in view, the difference in the scheme of the act and the indian income-tax act, 1922, on the aspect of option, there can be no dispute on the legal principle enunciated, having held that the appellants and four others ..... : [1966]60itr95(sc) , the apex court, with reference to the option available to an income-tax officer under section 3 of the indian income-tax act, 1922, held that it was not open to the assessing officer to assess one income twice, once in the hands of the individuals and again in the hands of an unregistered firm. .....
Tag this Judgment!Court : Guwahati
..... under section 143(3) shri b.k. sen, addl. secretary, appears and states that the bank's sole income including interest on securities is in the nature of business income and this is totally exempt under section 80p(2)(a)(i) of the income-tax act, 1961. it is found from the records that the assessee has been assessed only on interest on securities in earlier ..... pathak, c.j. 1. the following question of law has been referred by the income-tax appellate tribunal, gauhati bench (hereinafter referred to as 'the tribunal'), under section 256(1) of the income-tax act, 1961 (hereinafter referred to as ' the act'): 'whether, on the facts and in the circumstances of the case, the tribunal was justified in setting aside the consolidated order dated march 31, 1970, of .....
Tag this Judgment!Court : Guwahati
..... thought he was required to file the return for that assessment year. thereafter, on 14th march, 1963, the officer issued another notice under section 148 of the income-tax act, 1961, in respect of the assessment year 1946-47. one of the contentions urged by the appellant was that so long as the return submitted by the appellant on ..... q., jorhat') for the assessment year 1960-61 and the notice of demand of the same date issued by the same officer under section 156 of the income-tax act, 1961 (hereinafter called 'the act'), demanding payment of a sum of rs. 18,495.98 from the petitioner.2. the material facts of the case may be stated :the petitioner filed ..... so long as he did not do so, he was incompetent to issue a notice of reassessment either under section 34 of the income-tax act of 1922, or section 148 of the income-tax act, 1961. we are unable to accept that contention. the act does not provide for any machinery for dealing with voluntary returns filed by an assessee after assessment of .....
Tag this Judgment!Court : Guwahati
..... their lordships of the mysore high court that : 'no penalty under section 271 of the income-tax act, 1961, can be levied in respect of defaults committed under the indian income-tax act, 1922 ; but for such defaults penalty under section 28 of the old act can be levied. section 297(2)(g) does not apply to a matter to which section ..... the facts and circumstances of the case, the tribunal was right in holding that no penalty under section 271(1) of the income-tax act, 1961, can be levied in respect of any assessment for the assessment year 1961-62 or earlier year which is completed on or after 1st april,1962, in spite of the provisions of section 297(2 ..... had jurisdiction to issue the notices under section 33b of the old act, in view of section 297(2) of the act. their lordships further held that section 297(2)(a) of the income-tax act, 1961, includes within its scope a proceeding under section 33b of the indian income-tax act, 1922, dealing with 'revision' by the commissioner and not penalty .....
Tag this Judgment!Court : Guwahati
..... j. 1. in this reference under section 256(1) of the income-tax act, 1961 (for short 'the act'), the following question has been referred by the income-tax appellate tribunal for the opinion of this court :' whether, in the facts and in the circumstances, section 68 of the income-tax act, 1961, has any application at all to this case ?'2. the facts ..... 79itr525(mad) .8. mr. bhattacharjee, on the other hand, contends that this question was raised before the commissioner of income-tax (appeals). mr. bhattacharjee further submits that under section 68 of the act where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers ..... officer, satisfactory, the sum so credited may be charged to income-tax as the income of the assessee of that previous year. we have gone through section 68 of the act. the assessing officer before invoking the power under section 68 of the act must be satisfied that there are books of account maintained by the .....
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