Court : Punjab and Haryana
Reported in : [1983]139ITR602(P& H)
..... view of the legal provisions the claim of the i.t. dept. cannot be sustained with regard to the case property. section 226(4) of the act is in the following terms :' 226. (4) the income-tax officer may apply to the court in whose custody there is money belonging to the assessee for payment to him of the entire amount of such ..... confirmed the findings of the ito, but reduced the value of the gold involved from rs. 70,78,574 to rs. 47,19,056. the assessee's appeal to the income-tax appellate tribunal was dismissed and his application to refer certain questions of law to the high court was also rejected. the petitioner, therefore, filed a writ petition in the high ..... 6, 1977, passed by the learned special judge, kapurthala, by which the application moved by the i. t. authorities under section 226(4) of the i. t. act, 1961 (hereinafter referred to as ' the act '), claiming the custody of the case money was rejected.2. the facts giving rise to this appeal are as under ;a sum of rs. 10,50,000 in .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1983]139ITR284(P& H)
..... are partners in a firm, petitioner no. 1. all the petitioners are income-tax assessees. on march 1, 1975,first information report no. 32 was registered with civil lines police station, patiala, under sections 25-54 of the arms act, 1959, and sections 111, 112 of the customs act of 1962 and section 411 of the ipc, at the instance of shri ..... same are not relevant for the determination of the point raised before us. however, in the meantime, the i.t. authorities also received information that the assessees had concealed income and in that connection the commissioner also issued warrant of search of the residential and factory premises of the assessees on march 1, 1975. it is an admitted fact ..... its possession at any stage before they were taken into possession by the i.t. authorities. in that view of the matter as has been held by this court in cit v. ramesh chander and tej pal oswal v. ito , the possession of the i.t. authorities, in pursuance of the warrant for search and seizure, as far as .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)15CTR(P& H)260; [1981]131ITR719(P& H)
..... assessee to the wives and children of his brothers and the brothers making gifts to the wife of the assessee, attract the provisions of section 64(1) of the income-tax act, 1961 ? (iii) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the gifts made in the above manner were not ..... and (iii) of the i.t. act, 1961. we are, however, not impressed with the argument of the learned counsel. section 64(1) (i) and (iii) reads as under:' 64. income of individual to include income of spouse, minor child, etc.--(1) in computing the total income of any individual, there shall be included all such income as arises directly or indirectly- (i) to ..... dispose of income-tax reference nos. 19 to 22, 23, 24, 34 & 35, 36 and 37 of 1977 ; 16, 23, 75, 78 and 88 6f 1971 ; 31, 51, 117, 154 & 155, 168 & 169 and 171 & 172 of 1979, wherein the following questions of law have been referred to this court for determination under section 256(1) of the lt. act, 1961 :' ( .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)15CTR(P& H)281; [1983]139ITR622(P& H)
..... questions of law. the ito, central circle ii, ludhiana, filed a complaint under section 276 (b) and (d) read with section 276b of the i.t. act, 1961 (hereinafter called the act), and section 409, ipc, against the respondents alleging therein that since the deductions made at source had not been deposited in the government treasury, the respondents be tried ..... argued that the company on its own showing had failed to make the deposits of the tax deducted at source. about the liability of the directors, it was submitted that the directors of a limited company were officers of such a company and any default ..... whenever the salaries were paid, the concern did not have enough finance to pay the full salary. thus only net salary after reducing the tax payable therefrom was paid to the employees. however, tax payable on the salaries of the employees has been paid into the treasury as per details given above.'3. on this basis, it has been .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1980]124ITR894(P& H)
..... punjab state elecricity board is a licensee within the meaning of the electricity (supply) act, 1948, and was thus entitled to the allowance of development rebate without creating thereserve contemplated by proviso (b), explanation 2, to section 10(2)(vib) of the indian income-tax act, 1922 ?' 2. the previous year for the assessment year in the case is ..... for the purposes of the indian i.t, act, 1922, and is liable to income-tax and super-tax according to its income, profits and gains. 3. the board started filing returns from the assessment year 1959-60. for the previous year relevant to the assessment year 1961-62 it filed a return of income declaring a loss of rs. 5,61,71, ..... j. 1. this order will dispose of income-tax references nos. 103, 135, 141, 142 of 1976 and no. 25 of 1977. the facts in the judgment are being given from reference no. 25 of 1977. the following question of law has been referred under section 256(2) of the i.t. act, 1961, in pursuance of the directions of this court .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1980]125ITR655(P& H)
..... accommodation occupied by him and if he is compensated by his employer in that case, subject to the limitations imposed under the act and the rules, the allowance paid to him by the employer, shall be exempt from income-tax. an assessee, who occupies his own house, has disentitled himself from the rent which he would have been entitled to if ..... b.s. dhillon, j.1. the following question of law has been referred to us for our opinion at the instance of the commissioner of income-tax, patiala :' whether, on the facts and in the circumstances of the case, the tribunal erred in law in holding that the amount received by the assessee on account of ..... shortly called ' the hra ') which was claimed as exempt under section 10(13a) of the i.t. act, 1961 (hereinafter referred to as 'the act'), read with rule 2a of the i.t. rules, 1962 (hereinafter referred to as ' the rules '), framed under the act, on the ground that though there was no actual expenditure incurred in connection with the huf which is .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1982]133ITR361(P& H)
..... i.t. dept. suspected that the returns filed by the firms did not reflect the true income pertaining to the assessment years 1961-62 to 1968-69. on 17th january, 1970, an offer was submitted by the petitioner to the commissioner of income-tax, delhi (central), new delhi, who was the competent commissioner dealing with the case of the ..... and four partners were to make the payment of rs. 17,13,736 including the tax which would become due after filing the return, its interest under sections 215 and 217 of the i.t. act, 1961 (hereinafter referred to as 'the act') and the penalties. in pursuance of the settlement, the assessment proceedings pertaining to the years ..... the power of the commissioner for effecting a settlement is enacted in the provisions of section 271(4a) of the i.t. act, 1961 (unamended), which is equivalent to the provisions of section 273a of the 1961 act (amended with effect from 1st october, 1975). nothing could be pointed out by the learned counsel for the petitioner to show .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1981]131ITR21(P& H)
..... on the facts and in the circumstances of the case, the tribunal was correct in holding that the assessee-firm was entitled to registration under section 185 of the income-tax act, 1961 ?' 2. the brief facts giving rise to the reference are that the firm known as m/s. eclat auto agency, amritsar, came into existence on 18th october ..... all connections with the firm of m/s. eclat auto agency from 1st april, 1969, and was not, therefore, liable for any acts of commission or omission of the firm towards the income-tax, sales tax or any other authority. 5. on 4th june, 1969, the remaining partners, namely, sarvshri paras prabhu aggarwal, ravinder kumar aggarwal, kamal ..... this firm was registered with the registrar of firms and the sales tax dept. on the basis of the partnership deed dated 4th june, 1969, the assessee-firm filed an application for registration under section 185 of the i.t. act, 1961 (hereinafter referred to as 'the act'), for the assessment year 1970-71, relevant to the accounting .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)15CTR(P& H)270; [1980]124ITR44(P& H)
..... of the case, the tribunal was justified in holding that the assessee contravened the provisions of section 34(3)(a) of the income-tax act, 1961, resulting in the withdrawal of the development rebate already allowed under section 155(5) of the income-tax act, 1961, for the assessment year 1964-65 ?'3. after hearing the learned counsel for the parties, we are of the opinion that the ..... .e., before the expiry of 8 years. consequently, the ito came to the conclusion that the assessee infringed the provisions of section 34(3)(a) of the income-tax act, 1961 (hereinafter referred to as 'the act'), and hence the development rebate allowed to the assessee during the assessment year 1964-65 was to be withdrawn in view of the provisions of section 34(3 .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)16CTR(P& H)34; [1980]125ITR381(P& H)
..... facts and in the circumstances of the case, the tribunal is right in upholding the appellate assistant commissioner's order deleting the addition of rs. 40,290 made by the income-tax officer ' 2. the amount referred to in the second question is claimed to be chargeable by the revenue on the plea that the assessee-trust is a private trust. ..... a perusal of the objects, it is clear that the funds of the trust are to be utilised for charitable purposes ;as defined in section 2, clause (15), of the act 1961.'4. mr. awasthy, the learned counsel for the revenue, has advanced a two-fold argument to challenge the finding of the tribunal, namely, that the first two objects of the ..... maintenance of the samadhs and the holding of the mela are mentioned as two of the objects of the trust, the trustees are not bound to spend any income on these objects. in cit v. d. d. deshpande 0043/1975 : [1976]102itr390(bom) , a provision had been made in the trust deed where the settlor had expressed a desire to give .....
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