Court : Guwahati
..... the tribunal is right in cancelling the order of the inspecting assistant commissioner levying penalty of rs. 20,000 only levied under section 271(1)(c) of the income-tax act, 1961 ?' 8. in the instant case, the assessee credited a sum of rs. 25,000 in its books of account in the name of m/s. khubram ..... had deliberately furnished inaccurate particulars.' 10. it may be observed here that section 28(1)(c) of the indian income-tax act, 1922, corresponds to section 271(1)(c) of the income-tax act, 1961. 11. in commissioner of income-tax v. khoday eswarsa and sons : [1972]83itr369(sc) the supreme court after quoting from anwar ali's case, as quoted herein-above, ..... pathak, c.j. 1. this is an application under section 256(2) of the income-tax act, 1961, hereinafter referred to as 'the act'. 2. the commissioner of income-tax has filed this application, which arises out of the judgment and order of the income-tax appellate tribunal, gauhati bench, dated december 7, 1972, in i.t.a. no. 163 of 1970-71 .....
Tag this Judgment!Court : Guwahati
..... referred by the income-tax appellate tribunal, gauhati bench, 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 and on proper construction of the explanation to section 271(1)(c) of the income-tax act, 1961, the tribunal ..... was correct and justified in cancelling the penalty order ?'2. the facts of the case, as appear from the statement of the case, may be briefly stated as follows :the assessee is a registered firm :and has a rice mill at gauhati and various other activities. the assessment proceedings were taken against the assessee for the assessment year 1961 ..... he added this amount. for this amount of rs. 19,154, penalty proceedings under section 271(1)(c) of the act were initiated and the income-tax officer referred the matter to the inspecting assistant commissioner as required under the law. the inspecting assistant commissioner thereafter held that the .....
Tag this Judgment!Court : Guwahati
..... subsection (5) of section 139.40. in the result we find that the tribunal was correct in holding that the penalties under section 271(l)(c) of the income-tax act read with explanation to that section are justified in respect of the assessment years 1963-64, 1964-65 and 1965-66. 41. let us now consider the second ..... ) whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that penalties under section 271(1)(c) of the income-tax act read with explanation to that section were justified in respect of the assessment years 1963-64, 1964-65 and 1965-66 (2) whether, on the facts ..... , dated january 5, 1971 : ' filing false tax returns : do you know the consequences beware: filing of false tax returns is severely punishable under the income-tax, wealth-tax and gift-tax acts. it may cost you more than what you have concealed. under the income-tax act, a minimum penalty equal to the amount of the concealed income and a maximum penalty equal to twice that amount, .....
Tag this Judgment!Court : Guwahati
..... ) application for extension of the date for furnishing a return of income under section 139 of income-tax act, 1961.to the income-tax officer............... under section 139(1), (2), (3) of the income-tax act, 1961, i/we have to my/our income- file the return of my/our income._______________________________________________________________the income of ................ in respect of which i/we/am/areassessable for the ..... context in which these two questions of law have arisen and been referred to us. 3. a notice under section 139(2) of the income-tax act, 1961 (hereinafter called ' the act '), dated may 25, 1963, had been served on the assessee-company on may 29, 1963, in respect of the assessment year 1963-64 ..... i. delete the inappropriate words. 2. the application should be signed by a person who is entitled to sign a return of income as provided in section 140 of the income-tax act, 1961.' 5. it will be seen in the above form that the words 'is not possible/has not been possible for me/us .....
Tag this Judgment!Court : Guwahati
..... claimed that the income from those shares should not be included in the hands of the assessee. under the general law the transaction pertained to the minor son ..... under section 4 of the gift-tax act. we also do not agree with the argument of the learned counsel for the assessee that in considering the quantum of gift the shares standing in the name of minor son and transferred should also be considered. but for the provision of section 64 of the income-tax act, the assessee would have certainly ..... pathak, c.j 1. the following two questions cf law have been referred by the income-tax appellate tribunal as arising out of the tribunal's order in g.t.a. no. 7 (gauhati) of 1968-69, dated april 24, 1972, under section 26 of the gift-tax act: '(1) whether, on the facts and circumstances of the case, the tribunal was .....
Tag this Judgment!Court : Guwahati
..... has been referred by the income-tax appellate tribunal, gauhati bench, 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 appellate tribunal was justified in holding that the assessee firm had furnished inaccurate particulars of income and, therefore, penalty levied ..... position, for the purpose of the income-tax act, a firm cannot be equated with the partners because from the relevant provisions of the income-tax act it is quite clear that a firm is an entity which may be assessed as a person as ..... a local authority, and (vii) every artificial juridical person, not falling within any of the preceding sub-clauses.' 11. under the income-tax act a firm is an entity which is liable to pay tax. a firm is an assessee apart from the individual partners who also may be assessed in their individual capacities. that being the .....
Tag this Judgment!Court : Guwahati
..... india the petitioner has challenged the notice dated march 10, 1971, issued to him under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act'), by the income-tax officer, respondent no. 1. 2. the petitioner is a partnership-firm registered under the indian partnership act having its head office at gauhati. for the assessment year 1962-63, the petitioner filed a return showing ..... assessment for which action under section 147(a) is necessary. as such, the commissioner of income-tax's approval is required to reopen the assessment for 1962-63.' 14. in calcutta discount co. ltd. v. income-tax officer : [1961]41itr191(sc) while considering section 34(1 )(a) of the indian income-tax act, 1922, the supreme court has observed at page 377 as follows : 'we have, therefore, come .....
Tag this Judgment!Court : Guwahati
..... section 139 as according to him the return had not been filed within the time allowed under section 139(1) of the income-tax act, 1961, hereinafter referred to as 'the act'. the income-tax officer treated the first return as no return and accordingly he charged the interest up to the date of filing the proper return ..... part of the assessment proceeding and, therefore, an appeal lies under section 246(c) of the act which reads as follows: '246. appealable orders.--any assessee aggrieved by any of the following orders of an income-tax officer may appeal to the appellate assistant commissioner against such order--...... (c) an order against the ..... assessee, where the assessee denies his liability to be assessed under this act or any order of assessment under subsection (3) of section 143 .....
Tag this Judgment!Court : Guwahati
..... penalty, need not prove beyond reasonable doubt, negatively, that the assessee has, without reasonable cause, failed to furnish the return of the total income which he was required to furnish.44. the relevant portion of section 271 of the income-tax act, 1961, with which we are primarily concerned in this case, may be quoted : '271. failure to furnish returns, comply with notices, concealment of ..... avoidance of the liability, the burden is on the accused to make good the defence.43. the penalty proceeding under section 271 of the income-tax act, 1961, is a quasi-criminal proceeding, but not a criminal prosecution as such, and, therefore, in our opinion, the doctrine of criminal jurisprudence that the guilt of the accused shall be .....
Tag this Judgment!Court : Guwahati
..... levy penalty, need not prove beyond reasonable doubt, negatively, that the assessee has, without reasonable cause, failed to furnish the return of the total income which he was required to furnish.the relevant portion of section 271 of the income-tax act, 1961, with which we are primarily concerned in this case, may be quoted :"271. failure to furnish return, comply with notices, concealment of ..... avoidance of the liability, the burden is on the accused to make good the defence.the penalty proceeding under section 271 of the income-tax act, 1961, is a quasi-criminal proceeding, but not a criminal prosecution as such, and, therefore, in our opinion, the doctrine of criminal jurisprudence that the guilt of the accused shall be .....
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