Court : Punjab and Haryana
Reported in : (1980)18CTR(P& H)93; [1981]127ITR517(P& H)
..... on the facts and in the circumstances of the case, the tribunal was right in law in holding that the inspecting assistant commissioner of income-tax was not legally competent to pass the penalty order (2) whether, on ..... goyal, j.1. the income-tax appellate tribunal, chandigarh bench, vide order dated june 23, 1975, has referred the following two questions (question no. 1 at the instance of the revenue and question no. 2 at theinstance of the assessee) to this court under section 256(1) of the i.t, act, 1961 (hereinafter called ' the act '):' (1) whether, ..... order made by the inspecting assistant commissioner of income-tax was within time '2. in response to a notice under section 148 of the act, the assessee filed the return on june 17, 1968, showing an income of rs. 7,094. the ito, however, after necessary proceedings, assessed the income at rs. 22,140 on february 9, 1970 .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)18CTR(P& H)94; [1980]124ITR891(P& H)
..... in the circumstances of the case, the appellate tribunal is right in law in holding that, there was no proper information available to the income-tax officer to proceed under section 147(b) of the income-tax act, 1961 (2) whether, on the facts and in the circumstances of the case, the tribunal is right in holding that the reopening of the ..... assessments of the years 1970-71 and 1971-72 under section 147(b) of the income-tax act, 1961, was invalid ?' 2. the assessment for the two years 1970-71 and 1971-72 was completed by the ito on september 19, 1972, and the ..... the government valuer on august 30, 1974, to determine the estimated cost of its construction. consequently, shri r. c. kataria, assistant valuation officer, accompanied by inspector of income-tax, shri d.d. sharma, inspected the building and submitted his report on september 14/15, 1974. as the cost of construction estimated by the assistant valuation officer was found .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1980]126ITR512(P& H)
..... had started because of concealment.' 10. it may be mentioned here that on 25th september, 1970, extensive raids were carried out by the income-tax department under section 132 of the act on the premises of various brokers and other parties in the city of ludhiana. voluminous documentary material was recovered as a result of the searches ..... of raid on 25-9-1970 on the premises shri harbans lal, money-broker, ludhiana, certain secret records were taken into custody by the income-tax department. on the basis of these records the income-tax officer, special circle 'a' ward, ludhiana, sent the information that the assessee-firm had introduced its own black money into the books ..... dispose of civil writ petitions nos. 3018 and 3132 of 1972. the petitioner in both these writ petitions is an assessee under the i.t. act, 1961 (hereinafter referred to as 'the act '). the assessment proceedings relate to the assessment year 1970-71 in cwp no. 3018 of 1972, and to the assessment year 1969-70 in cwp .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)18CTR(P& H)96
..... no jurisdiction to order a remand to afford an opportunity to the revenue to lead evidence in rebuttal. reliance for this contention was placed on arjan dass v. cit, b. l. choudhury v. cit, orissa and k. mohammed v. ito, palghat. a perusal of these decisions would show that in none of them any proposition of law, as advanced by ..... new firm of selling agents by virtue of freshly executed deed, in 1968, whether the old agreement dated 2-4-1966 continues to subsist automatically or there was any act of ratification for the same which can be proved by documentary evidence or circumstantial evidence and the documentary or substantial evidence should be contemporary in nature and(v) keeping ..... the manufacture and sale of utensils. the assessment for the year 1970-71 was completed by the ito on january 6, 1973 at a total income of rs. 36,580/- as against the declared income of rs. 18,879/-. the assessee claimed a deduction in respect of an amount of rs. 13,599/- which was stated to have been paid .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)16CTR(P& H)56; [1980]123ITR227(P& H)
..... relate to the year in question.3. the first appeal filed by the assessee before the aac was also dismissed.4. second appeal filed by the assessee before the income-tax appellate tribunal, chandigarh bench, chandigarh (hereinafter referred to ' as the tribunal ') was accepted. the plea that the loss in question could not be transferred to the ..... in calcutta co. ltd. v. cit : [1959]37itr1(sc) , is of no help as in that case, also, ..... their lordships of the supreme court in kedarnath jute . v. cit : [1971]82itr363(sc) . this authority is of no help as in that case the liability incurred was on account of payment of sales tax, which liability was ascertainable keeping in view the provisions of the act.8. similarly, the decision of their lordships of the supreme court .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)18CTR(P& H)98; [1980]125ITR549(P& H)
..... filing the returns under section 139(1) of the i.t. act, 1961 (hereinafter referred to as ' the act '), were september 30, 1970, and september 30, 1971, respectively. he, prior to the issue of notices under section 139(2) of the act, voluntarily filed the returns of his income for the aforesaid assessment years on october 23, 1972. on the ..... the returns be waived.2. respondent no. 1 rejected the application, vide order dated june 2, 1975, on the ground that the petitioner had been assessed to tax for a number of years prior to the assessment years in question and by submitting the returns under section 139(1) after the due date, the assessee could not ..... to in clause (ii) of this sub-section has, prior to the detection by the income-tax officer, of the concealment of particulars of income in respect of which the penalty is imposable, or of the inaccuracy of particulars furnished in respect of such income, voluntarily and in good faith, made full and true disclosure of such particulars ; (b) .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)18CTR(P& H)101; [1980]125ITR603(P& H)
..... of the survey at 9.00 p.m. pawan kumar, a partner of the firm, was served with a notice, annex. p-2, under section 131 of the i.t. act, 1961, to produce the documents mentioned in annex. p-3 and simultaneously these books were collected by the raiding party and taken away along with them. it was further pleaded that ..... 133a but to circumvent the said provisions a notice under sub-section (1) was prepared and served and the order passed under sub-section (3) of section 131 of the act.3. the petition has been contested by the ito, who, while controverting all the material allegations regarding seizure and impounding of documents, pleaded, that the survey had come to an ..... pawan kumar in response to the notice, ex. p-2, and the same were thereafter impounded by the ito by virtue of the provisions of section 131(3) of the act.4. mr. bhagirath dass, the learned counsel for the petitioner, sought to challenge the impugned order on a number of grounds but we do not propose to go into all .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1980)18CTR(P& H)71; [1981]128ITR189(P& H)
..... own account and that the sum of rs. 12,49,236 (rs. 70,738 + rs. 11,78,498) was not exempt under section 81(i)(d) of the income-tax act, 1961 ?' 18. on the reference application filed by the commissioner, the tribunal was of the opinion that the following question of law arises: 'whether, on the facts and in the ..... was a transaction of agency and not of purchase and sale and that the amount of rs. 87,750 was not exempt under section 81(i)(d) of the income-tax act, 1961? (2) whether the finding of the tribunal that the transaction in fertilizers was a transaction of agency and not of purchase and sale is vitiated by reason of ..... (since repealed) and having its head office at chandigarh. it is engaged in various activities the income from some of which is taxable while from some others the income is not taxable under the income-tax act, 1961 (hereinafter referred to as 'the act'). 4. by an agreement dated 'nil' between the assessee and the governor of punjab commencing from april 1, 1960, and .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1980]46STC367(P& H)
..... section 12(2) for giving benefit of this provision to them, but the benefit was not enlarged to all applications including applications for reference under the sales tax act.11. the learned counsel for the assessee has urged that an application for reference should be deemed to be an application for leave to appeal. this argument ..... the application could have been condoned under section 5 of the indian limitation act by extending the period of limitation by the number of days spent in obtaining the certified copy. the lahore view as stated in muhammad hayat haji muhammad sardar v. commissioner of income-tax, punjab a.i.r. 1929 lah. 170, was definitely in ..... favour of allowing the period spent in obtaining a certified copy of the order while computing the period of limitation for a reference application.the aforesaid discussion shows that it was not firmly decided whether section 12(2) of the limitation act would be .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1980]125ITR636(P& H)
..... , were confirmed by the aac.3. the ito being of the view that the two assessees had concealed particulars of their share income, made references to the iac under section 274(2) of the i.t. act, 1961 (hereinafter referred to as the act). the iac initiated penalty proceedings against both the assessments on the ground of concealment of particulars of ..... . we do not consider that the tribunal fell in error in taking into consideration this fact while reducing the penalty from 50% to 30% of the tax sought to be avoided.6. for the reasons recorded above, we answer the question referred to this court, accordingly. there will be no order as to costs. ..... on anand sagar. these penalties in each case reflected 50% of the tax that would have been avoided if only the incomes declared in the original returns had been taxed.4. on appeal, the appellate tribunal confirmed the finding that the penalty for concealment of particulars of income was exigible in each case but reduced the penalties from 50% to 30 .....
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