Court : Patna
..... the cumulative interest payable under section 201(1a) for all the years involved in respect of the tax deducted at source under sections 192 to 195 of the income-tax act, 1961, is less than rs. 10,000 and the tax is also paid to the credit of the central government. learned counsel pointed out that there ..... , 1990, whereby cognizance against them has been taken for the offence under section 276b of the income-tax act, 1961. opposite party no. 2 filed a complaint case against the petitioners alleging therein that the petitioners deposited the tax deducted at source after a delay of 45 days. on theaforesaid complaint petition cognizance against the petitioners ..... has been taken for the offence under section 276b of the income-tax act, 1961, by the impugned order.2. learned counsel for the petitioners contended that the allegation is of delay in payment of tax deducted at source amounting to rs. 11,680 and the interest thereon is within rs. .....
Tag this Judgment!Court : Patna
..... support of the claim because at the stage of section 143(1)(a), the assessee has no such opportunity. 21. the court held that under section 154 of the income-tax act the power of rectification of an intimation under section 143(1)(a) is co-terminous with the power to make prima facie adjustments under that section. the court in this ..... i may again mention that it is their definite case that the book profit had been computed in accordance with the relevant provisions of the companies act, as required under section 115j of the income-tax act. however, in view of my conclusions on the point of jurisdiction of the assessing officer to make correction of the intimations or the assessment orders in ..... be deemed to be an amount equal to 30 per cent, of such book profit. the assessee is required first to compute the total income in accordance with the income-tax act, and if it is less than 30 per cent, of the book profit, then, it has to prepare a profit and loss account under sub-section (1a) for .....
Tag this Judgment!Court : Patna
..... special court, economic offences, patna, taking cognizance of the offence under section 276b of the income-tax act, 1961.2. mr. t.r. rahman, income-tax officer, ward no. 2(1), patna, filed a petition of complaint duly authorised by the commissioner of income-tax-i, patna, against m/s. iceberg industries limited and its three partners who are petitioners ..... court, economic offences, patna. the presiding officer after perusal and consideration of the complaint petition took cognizance of the offence under section 276b of the income-tax act against the accused persons and ordered to issue notice/summons under the impugned order dated december 2, 2006.3. learned lawyer for the petitioners submits that ..... tds amount was deposited on september 1, 2005. a show-cause notice was served upon the accused as to why the proceedings under section 276b of the income-tax act be not initiated. it is alleged that the company, accused no. 1 and its directors, accused nos. 2, 3 and 4, failed to deposit the .....
Tag this Judgment!Court : Patna
..... respect of the assessment year in question on which it had become entitled to receive interest under section 214 of the income-tax act, 1961. as this interest had not been allowed to it the assessee requested that an order under section 154 may be passed and the interest under section 214 be allowed to ..... the claim for payment of interest in respect of payment made on may 1, 1972. however, the assessee pleaded that it was entitled to interest under section 214 of the income-tax act in respect of the payment made on march 20, 1972, also. the appellate tribunal held that the assessee is entitled to payment of interest in respect of the advance ..... the financial year is taken as a unit and the amount paid during the financial year would be eligible for grant of interest under section 214 of the income-tax act. though the instalment of advance tax was not paid on the due date but a little later, it does not lose its character as such because it was not paid on the due .....
Tag this Judgment!Court : Patna
..... disposed of by this common judgment. in both the cases, the petitioners have challenged the order taking cognizance under sections 276c and 277 of the income-tax act, 1961 (hereinafter referred to as 'the act'), passed by the presiding officer, special court for economic offences, bihar, muzaffarpur, on march 6, 1992, and february 28, 1992, respectively.2 ..... placed before it, there is no legal bar in giving due regard to the result of the proceedings under the income-tax act, 1961.'thus, only on the ground that some proceeding is pending under the act and there is a chance of success of the assessee the criminal prosecution cannot be quashed against the assessee.21 ..... v. union of india ; amanullah quareshi v. union of india : 1992crilj2781 , and it has been held that the result of the proceeding under the income-tax act is one of the major factors to be considered by the criminal court while deciding a proceeding regarding the relevant assessment year and the resultant finding in the .....
Tag this Judgment!Court : Patna
1. at the instance of the revenue, on an application filed under section 256(1) of the income-tax act, 1961 (for short, 'the act' only), the appellate tribunal, patna bench, patna, has referred to this court the following questions of law for its opinion for the assessment years 1977-78 and 1978 ..... of the case, the tribunal was justified in holding that the commissioner of income-tax has no jurisdiction to set aside the order under section 263 of the income-tax act and to remand hack to the income-tax officer to pass fresh order after following section 144b of the income-tax act ?' 2. for the assessment year 1977-78, the assessee filed its return ..... of income showing total income of rs. 59,075. by the assessment order dated march 24 .....
Tag this Judgment!Court : Patna
..... of drying, sprinkling of water, bundling of tendu leaves, etc., constitute processing and place tendu leaf-traders outside the purview of sections 44ac and 206c of the income-tax act, 1961.it is found that the operations carried out by the tendu leaf-traders do not change the nature and character of the leaves and these are performed only ..... in kendu leaves, have filed the present writ applications for a declaration that the main provision of sub-section (1) of section 206c of the income-tax act, 1961 (hereinafter referred to as 'the act'), is not applicable and their case is covered by the proviso to the said sub-section and, accordingly, a direction may be issued to respondents ..... collectible at source in respect of the purchases made by such traders and their profit and loss would be computed in accordance with the provisions of the income-tax act. a copy of the said letter has been annexed as annexure-1 to the writ application. 6. accordingly, the petitioners used to apply for grant of .....
Tag this Judgment!Court : Patna
..... criminal procedure seek quashing of the criminal prosecution of the petitioners including the order dated february 27, 1992, taking cognizance under sections 276c and 277 of the income-tax act, 1961, in complaint case no. 50 of 1992 pending before the special court (economic offences), muzaffarpur. since a common question of law has been raised, the ..... mad) was dealing with a case in which the petitioner-assessee had been prosecuted for offences under sections 276(1) and 277 of the income-tax act as also under sections 193 and 196 of the indian penal code. it was urged on behalf of the petitioner that under section 279(1a) of ..... was filed on february 27, 1992, by the assistant commissioner of income-tax (o. p. no. 2), alleging that the petitioners had wilfully attempted to evade tax, interest or penalty chargeable or imposable under the income-tax act, (hereinafter the 'act'), by deliberately concealing the accurate particulars of income for the assessment year 1988-89. the firm had filed a .....
Tag this Judgment!Court : Patna
..... in that decision venka-taramaiah j., as his lordship then was, examined in detail the terms and conditions of a similar collaboration agreement, the relevant provisions of the income-tax act, 1961, and the decisions of the supreme court includ-ing those in carborandum co.'s case : [1977]108itr335(sc) and performing right society limited's case : [1977] ..... payment also but those were not the subject of dispute before the court. on examining the provisions contained in section 5(2) and section 9 of the income-tax act, 1961, this court found and held as follows (page 605) : 'taking into consideration the different clauses of the agreement and the findings recorded by the appellate ..... the collaboration agreement did accrue or arise in india to the non-resident company within the scope of the provisions of section 5(2)(b) of the income-tax act, 1961.' (emphasis' added) in arriving at its finding on the basis of the reason assigned by it, the tribunal solely relied upon a decision of the supreme .....
Tag this Judgment!Court : Patna
..... total income over the income disclosed is taxable under s. 11(4). i, therefore, am of the opinion that the order of the cit(a) is liable to be reversed on this point. i, thus, do not agree with the conclusion of my learned brother on this issue as well.order of reference under s. 255(4) of the it act, 1961. ..... the actual income of the assessee as per the books of accounts which ..... is why in s. 11(4) of the act special reference is made to the power of the assessing officer to determine the income of business undertaking in accordance with the provisions of the it act. besides, under the act the assessing officer only assesses the income which is a base for raising tax demand and it is not his function to determine .....
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