Court : Kerala
Reported in : [1988]171ITR562(Ker)
..... (3) if the second question is answered in the affirmative, whether, on the facts and in the circumstances of the case, the reopening of the assessment under section 147(b) of the income-tax act, 1961, is valid (4) whether, on the facts and in the circumstances of the case, rs. ..... the following questions have been referred to us by the income-tax appellate tribunal, cochin bench :' (1) whether, on the facts and in the circumstances of the case, the reopening of the assessment under section 147(a) of the income-tax act, 1961, is valid ? ..... road, ernakulam, on which the new woodlands hotel had been constructed, is liable to be taxed under section 45 of the income-tax act, 1961 ' 2. ..... by the assessee, being his share of the difference between the market value of the properties of the ernakulam firm and their book value, on his retirement from the said firm on november 25, 1970, is not liable to be taxed under section 45 of the income-tax act, 1961 ? ..... the release deed, under which such relinquishment took place, was registered on november 25, 1970, after obtaining the necessary permission of the department under section 230a of the income-tax act, 1961. ..... (2) if the above question is answered in the negative, whether, on the facts and in the circumstances of the case, it is open to the department to contend at the appellate stage that the reopening of the assessment is justified under section 147(b) of the income-tax act, 1961 ? .....
Tag this Judgment!Court : Gujarat
Reported in : [1995]216ITR415(Guj)
..... such requests for the change of accounting year may be liberally allowed by the assessing authorities under the provisions of section 3(4) of the income-tax act, 1961, subject to the condition that the adoption of such a longer previous year does not result in any loss of ..... enables the assessee to change the previous year relevant for the assessment year 1988-89 to march 31, 1988, by providing that such requests for change of accounting year be liberally allowed under section 3, sub-section (4), of the income-tax act, 1961. ..... was accompanied by an application dated august 9, 1988, under section 3(4) of the income-tax act, 1961, for permitting the petitioner to change the period of assessment on the basis of the circular issued by the central board of direct taxes. ..... hardly be a ground for rejecting the request for permission to change the accounting year, on the basis of the circular issued by the central board of direct taxes, and that too, when there is an amendment to section 3 of the income-tax act, which provides that the 'previous year' for the purpose of the act means the financial year, immediately preceding the assessment year. 12. as stated above, as there is no loss of revenue because of the change in the accounting ..... the respondent has taken a highly arbitrary stand and irrelevant attitude, by holding that penalty under section 271(1)(c) of the income-tax act is required to be imposed, without considering the fact that the said section is not applicable in the present case. .....
Tag this Judgment!Court : Gujarat
Reported in : [1993]203ITR84(Guj)
..... the petitioner has challenged the order (exhibit j) dated january 5, 1983, passed under section 220(2) of the income-tax act, 1961 (hereinafter referred to as 'the income-tax act'), passed by the income-tax officer, companies circle vii, ahmedabad. ..... considering the provisions of section 220, sub-section (2) of the income-tax act, it is apparent that, if the assessee fails to comply with the notice of demand under section 156 of the income-tax act within 35 days of service of notice, the assessee is liable to pay simple interest at the rate of 12 1/2% per annum (at present 18%) for the period after 35 days till the date on which the amount is paid ..... the order (exhibit j) dated january 6, 1983, under section 220(2) of the income-tax act passed by the income-tax officer, companies circle vii, ahmedabad, demanding interest of rs ..... it is also apparent, as stated above, that the petitioner had complied with the notice of demand issued under section 156 of the income-tax act and, therefore, there is no question of applying the provisions of sub-section (2) of section 220 of the income-tax act. 6. ..... the relevant part of sub-section (2) of section 220 of the income-tax act reads as under : '(2) if the amount specified in any notice of demand under section 156 is not paid within the period limited under sub-section (1), the assessee shall be liable to pay simple interest at one and one-half per cent ..... , an order (exhibit b) under section 154 of the income-tax act was passed on march 22, 1979. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1974]44CompCas144(Raj); [1974]94ITR11(Raj); 1972()WLN563
..... then the respondent has stated as follows :' further', the clear object and purport of introducing a provision like section 178 of the income-tax act, 1961, was to safeguard the recovery of tax from a company in liquidation on the basis of priority even though the assessments were yet pending.'3. ..... the income-tax officer issued notice, annexure ' i ', to the liquidator on august 29, 1968, notifying him under section 178 of the income-tax act, 1961, that he should set aside a sum of rs. ..... sharma has, however, strenuously argued that section 178 has been incorporated in the present income-tax act, and sub-sections (3) and (4) have been substituted for the earlier sub-sections, for the purpose ofengrafting a special provision for securing and ensuring easy recovery of income-tax in ' preference ' to all other debts owed by the company, and that the proviso to sub-section (3) now provides for the recovery of income-tax by stating that nothing in the sub-section shall debar the liquidator from ..... it has been pointed out by the liquidator in this connection that even though the debt claimed on account of income-tax is not entitled to any priority over the other debts in accordance with section 530 of the act, the income-tax officer has gone to the extent of issuing the notice, under section 178 of the income-tax act for setting aside such a huge sum as rs. .....
Tag this Judgment!Court : Rajasthan
Reported in : [2002]258ITR548(Raj); 2002(3)WLN553; 2002(3)WLN553
..... section 260a of the income-tax act, 1961, is directed against the order dated july 27, 2000, passed by the income-tax appellate tribunal, jodhpur, directing the commissioner of income-tax, jodhpur, to grant registration to the applicant-society under section 12a of the income-tax act, 1961. ..... rightly directed the commissioner of income-tax 'to grant registration to the applicant-society under section 12a of the income-tax act, 1961. 12. ..... finding, the income-tax appellate tribunal by the impugned order directed to grant registration to the assessee-society under section 12a of the income-tax act, 1961. 4. ..... assessee's application filed under section 12a of the income-tax act on july 1, 1999, was rejected by the order of the commissioner of income-tax, jodhpur, dated january 17, 2000, having held that the object of the society does not fall within the category denoted by the words 'advancement of any other object of general public utility' appearing in section 2(15) of the income-tax act and as such is not ..... by the order of this court dated july 24, 2001, on the following substantial question of law : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in holding that on the proper construction of aims and objects of the assessee-association as disclosed in its constitution fall within the purview of section 2(15) of the income-tax act so as to entitle the assessee-society to registration under section 12a of the income-tax act ?' 3. .....
Tag this Judgment!Court : Chennai
Reported in : (1986)55CTR(Mad)380; [1986]162ITR314(Mad)
..... 2,09,993 to the assessee in view of the bar of limitation and the benefit accrued to the assessee as a result of such cessation was not liable to be taxed under section 41(1) of the income-tax act, 1961, for the assessment year 1970-71 ?' 3. ..... a reading of section 41(1) of income-tax act, 1961, will show that certain conditions must be fulfilled before the revenue can resort to section 41(1) of the act. ..... the relevant part of section 41(1) of the income-tax act, 1961, in so far as the facts of the present case arejconcerned, will read as follows : '41. ..... 2,09,993 could not be brought to tax under section 41(1) of the income-tax act, 1961. ..... from the fact that the foreign company has not taken any steps to recover the amount of royalty, the trading liability must be held to have ceased and the amount of royalty has to added back as income under section 41(1) of the income-tax act, 1961. ..... 2,09,993 being the unpaid royalties to the foreign collaborator should not be brought to tax under section 4(1) of the income-tax act, 1961 2. ..... year in question and that the acknowledgment of the liability in the balance-sheet would suffice to stamp it with the character of a liability and, therefore, the amount representing that liability could not be added back under section 41(1) of the income-tax act, 1961. .....
Tag this Judgment!Court : Chennai
Reported in : (1990)84CTR(Mad)241; [1991]189ITR270(Mad); (1991)IMLJ233
..... 10 lakhs, in effect, overrides and nullifies the provisions of chapter xxc of the income-tax act, 1961 (sections 230a and 269uc of the said income-tax act, 1961), that the provisions of section 269ua contemplate the transfer of a part of the property or a building and unless such transfer of a part or portion of the property exceeds rs. ..... it is further stated by the petitioner that the inspector-general of registration is bound to act in conformity with the provisions of the income-tax act and the indian registration act, 1908, that the inspector-general of registration is not empowered to insist on the production to two certificates under the income-tax act, 1961, for the purpose of registering a 'sale or transfer, one being section 230a clearance certificate and another being 'no-objection' certificate in a case where the apparent consideration for the transfer does not exceed ..... act. learned counsel further replies that, for the part of the property (undivided share) either section 230a of the income-tax act, 1961, or chapter xxc will not apply and as such both the circulars are illegal and void in law. ..... same. in my view, the criterion to obtain a certificate either under section 230a of the income-tax act, 1961, or under chapter xxc should be the value of the proprietor the interest of the person in such property that was sought to be transferred and it was only with respect to that extent that the income-tax clearance certificate could be insisted .....
Tag this Judgment!Court : Chennai
Reported in : [1976]46CompCas250(Mad); [1976]103ITR1(Mad)
..... under the income-tax act of 1961, sections 15c(1) and 15c(4) werereplaced by sections 84 and 85 by the finance (no ..... pillai was rendered with reference to section 15c(1) and 15c(4) of the indian income-tax act, 1922, corresponding to sections 84 and 85, respectively, of the income-tax act of 1961, before their deletion in 1969 and that the said decision cannot be of any assistance in the interpretation of sections 80j and 80k which are entirely different from sections 15c(1) and 15c(4). 12. ..... as the scope and ambit of section 80k of the income-tax act, 1961 (hereinafter referred to as 'the act'), arises in all the above petitions filed by the same assessee, it is convenient to dispose them of together by a common ..... sections 15c(1) and 15c(4) of the indian income-tax act of 1922 were as follows : ' ..... commissioner of income-tax, : [1971]80itr101(delhi) , the delhi high court held that the scheme of section 80j of the 1961 act is different from that of section 15c of the 1922 act and that the said difference lies in the fact that under section 15c the benefit of unabsorbed exemption of an earlier year cannot be availed of in a subsequent year and it was not possible to allow the said benefit to be carried forward and set off against the taxable profits of the ..... apart from the saidallowances, the company claimed relief under section 80j of the act, inasmuch as the conditions laid down in the said section and the income-tax rules, 1962 (hereinafter referred to as 'the rules'), had been .....
Tag this Judgment!Court : Chennai
Reported in : [1974]95ITR422(Mad)
..... section 276(1)(c) of the income-tax act of 1961 provides that if a person, who is called upon undersection 142(1) of the said act to produce or cause to be produced such accounts and documents as are referred to therein, fails to produce them without reasonable cause or excuse, he would be punishable with a fine indicated therein. ..... thus, the prosecution has proved beyond doubt that the petitioners had with them other account books, admittedly signed by the commercial tax officers, and when a notice under section 142(1) of the income-tax act was issued and when a further notice specifically calling for those books were issued, they did not produce those books, but made a false statement to the effect that they had no other books. 6. ..... by exhibit p-27, the petitioners stated that they hav (sic) produced all the books with them and that they had no other books (sic) thereupon a complaint for an offence under section 276(1)(c) of th (sic) income-tax act and under section 193 of the indian penal code, for making; (sic) false statement was filed (exhibit p-32). ..... section 136 of the income-tax act provides that any proceedings under the said act before an income-tax authority shall be deemed to be a judicial proceeding for purposes of sections 193 and 228 and for the purpose of section 196 of the indian penal code. ..... p,w, 1 issued anotice under section 142(1) of the income-tax act, viz, exhibit p-19, callin (sic) on the petitioners to produce the account books for the year 1963-64. .....
Tag this Judgment!Court : Chennai
Reported in : [1973]91ITR513(Mad)
..... aggrieved against the said levy of interest, the petitioners filed a revision before the commissioner of income-tax under section 264 of the income-tax act, 1961, but the commissioner dismissed the same on november 24, 1969. ..... --notwithstanding anything contained in section 68 of the finance act, 1965 (x of 1965),--(a) any income-tax which is payable by a person on the amount of income declared by him under the provisions of sub-section (1) of that section but has not been paid within the period referred to therein (such tax being hereafter in this section referred to as the outstanding tax) shall be deemed to be tax due from the declarant on the date next following the expiry of the said period under a notice of demand issued under section 156 of the income-tax act, and the ..... anything contained in section 68 of the finance act of 1965, any income-tax which is payable by a person on the amount of income declared by him under the provisions of sub-section (1) of that section, but has not been paid within the period referred to therein, shall be deemed to be tax due from the declarant as on the date next following the expiry of the said period under a notice of demand issued under section 156 of the income-tax act, and the provisions of chapter xv and chapter xvii-d of the act and the .....
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