Court : Madhya Pradesh
Reported in : [2008]305ITR29(MP)
..... view in the matter of sir shadilal (supra) can no longer be said to be applicable.10. explanation 1 to section 271 has been substituted by the taxation laws (amendment) act, 1975, w.e.f. 1st april, 1976. according to which if a person fails to offer an explanation or offers an explanation which is found by the ao ..... sir shadilal sugar & general mills ltd. v. cit (supra) is concerned is based on section 271(1)(c) of the act, prior to this amendment in 1964. in this case the assessment was completed under the it act, 1922 and the assessment year was 1958-59 wherein the ao made addition of rs. 1,37,700 towards cane against, shortage ..... a quasi criminal proceeding. there should be conscious concealment. the provisions should be construed strictly. even after the addition of explanation to section 271(1)(c) of the act, 1961, conscious concealment is necessary and the presumption under explanation to section 271(1)(c) can be displaced by the assessee proving that the failure to return the correct .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1997)140CTR(MP)331
..... that right from the beginning it was only intended to benefit individuals or huf. subsequently, a clarification has been introduced by inserting sub-s. (3) in s. 80l by amendment act, 1984 only with a view to remove the doubt which had arisen in some quarters, may be in the mind of assessee and may be as a result of some ..... no return has been filed by the respondents. however, shri tankha, learned counsel for the respondents submitted that sub-s. (3) to s. 80l introduced by taxation laws (amendment) act, 1984 is only clarificatory in nature and does not in any way operate in an arbitrary manner or violates any provision of law. shri nema, learned senior advocate and shri ..... the petitioner is not entitled to the benefit under s. 80l. hence, the petitioner has challenged the validity of sub-s. (3) of s. 80l introduced by taxation laws (amendment) act, 1984.3. in view of the amendment by act of 1984 w.e.f. 1st april, 1976, a notice was issued to the assessee under s. 148 r/w s. 147 of the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2005)197CTR(MP)462; [2007]290ITR453(MP)
..... is pending before the concerned officer and not otherwise. for the exercise of such power, existence or pendency of a proceeding is, therefore, a must........ the taxation laws (amendment) act, 1975, introduced sub-section (1a) in section 131. under this subsection, if the asstt.. director of inspection has reason to suspect that any income has been concealed........ ..... and directing the ao to make the addition as per the valuation made by the approved valuer ?'re. question no. (1)2. section 68 of the it act, 1961 ('act' for short) provides that where any sum is . found credited in the books of an assessee, for which the assessee offers no explanation about the nature and ..... follows (placitum) :'the existence of a pending proceeding is a condition precedent and sina qua non for the exercise of power under section 131(1) of the it act, 1961. the words 'notwithstanding that no proceeding with respect to such person or class of persons are pending' occurring in sub-section (1a) of section 131 .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1997)139CTR(MP)239
..... of the process of the court.'10. in order ix r. 4 of the cpc the words 'such failure as is referred to in rule 2' are substituted by cpc (amendment) act, 1976. the court can recall the order and can set the dismissal aside on sufficient cause - lachman vs. devi 56 ic 884. it is, thus, clear that existence ..... orders as may be necessary for the ends of justice or to prevent abuse of the process of the court. this point is settled in the context of old act i.e. it act, 1922 also. in jaipure mineral development syndicate vs . cit : [1977]106itr653(sc) , it is held that :'in exercising inherent power, the courts cannot override the express ..... e. opinion is thus required to be vigilant and is expected to pursue such application with due diligence.8. on receipt of application under s. 256(2) of the act, the high court may direct issuance of notice to the opposite party.9. civil procedure code prescribes the procedure which may be considered to appreciate the contentions :(i) order xlviii r. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : I(2007)BC525; 2006CriLJ1988; 2006(1)MPLJ194
..... electronic image of a truncated cheque and cheque in an electronic form as well as exempting an official nominee. director from prosecution under the negotiable instruments act, 1881. the other enactments i.e. the bankers books evidence act, 1891 and information technology act, 2000 have also been amended by the act no. 55 of 2002. the main aims and objects, for creation of chapter xvii and further ..... amendment therein (ibid) is to enhance the acceptability of cheques in settlement of liabilities by making the drawer liable for penalties in case of bouncing of cheques due .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1996)134CTR(MP)100
..... it was rightly held in kundan lal vs . ito following : [1956]29itr419(ap) that cl. (5) of s. 35 of the indian it act, which was enacted by the income-tax (amendment) act, 1953, was not declaratory of pre-existing law, and as it clearly affected vested rights which had accrued to the assessee, must be deemed to ..... undernoted three common grounds contained in these applications :'(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from 1st april, 1983 in s. 43b of the it act by exceeding its jurisdiction in reading more than what the parliament has expressly provided.(ii) that the taxing statute is passed after ..... 1st april, 1984. proviso to this section was inserted by the finance act, 1987 w.e.f. 1st april, 1988. the tribunal, however, held that the amendment was declaratory in nature and was available for being applied retrospectively. it, therefore, held that the amended provisions of s. 43b were applicable to assessment for the assessment years .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2008)218CTR(MP)512
..... directing the cit (administration) to extend the benefit of registration under sections 12a and 12aa of the act to the assessees in spite of the fact, there has been amendment of sections 10(20) and 10(29) of the act solely on the foundation that they are entitled to registration as the activities of the institutions partake ..... cit(a), but a correct opinion has been expressed by the tribunal after analysing the 1972 act, and hence, concurrence with the order passed by the tribunal by the division bench is absolutely correct.(iii) the amendment that has been introduced amending the provision under section 10(20) and omitting the section 10(29) does not really ..... affect that status of krishi upaj mandi samitis for getting registration in the absence of amendment of section 2(15).(iv) the grant of registration is a condition precedent for claiming exemption under section 11 of the act and division bench though has opined that it is eligible for grant of exemption, the said opinion .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2005)195CTR(MP)210; [2005]278ITR122(MP)
..... question involved in the petition is whether the letter of the finance minister will override the provisions of the act.10. letter simpliciter written by the finance minister will not have any statutory force unless the act is amended and rules are made thereunder. in the present case, purchaser is required to pay the cost of liquor ..... result of different systems prevailing in different states, the term 'purchase price', used in section 44ac of the it act, 1961, was being understood in different ways. in order to clarify this point, the finance act, 1990, has amended the said section to provide that the purchase price would mean any amount (by whatever name called) paid ..... collections under section 206c made during the financial year 1990-91.(4) the finance act, 1990, has further amended section 44ac so as to include a 'cooperative society' also within the meaning of the term 'seller' as defined therein. the said amendment has also come into effect from the asst. yr. 1991-92 and will, .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2007]290ITR128(MP)
..... .). if the ao is allowed to examine files containing reasons for issue of authorisation under section 132 of the it act, the name of informer will not be secret and the informer will be exposed to risk of his life. therefore, such informations supplied by the informers are totally kept secret and cannot be divulged to any person including the ao. the ao, therefore, cannot be ..... ) , it was held that no appeal lies against the order under section 197(3) of the it act. prior to amendment by finance act, 1994, w.e.f. 1st june, 1994 there was no provision for appeal against the intimation under section 143(1)(a) of the it act.therefore, in view of the abovementioned decisions, an assessee can file appeal before the tribunal only when .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1997)141CTR(MP)312
..... the respondents, were not in contravention of s. 269ss and the petitioners were not liable to be prosecuted.the petitioners further alleged that s. 276dd of the it act, 1961, was amended on 10th september, 1986, omitting s. 276dd and, therefore, no offence could be alleged against the petitioners. the departmental circulars also make the provisions and ..... sc 494. it was held in that case that :'prosecution launched on 17th march, 1968, after r. 132a(2) was omitted by the defence of india amendment rules, 1965. prosecution is illegal.'in that case, it was held that the omission of a particular section or rule from the statute would be that it never ..... criminal court was not competent.the respondents contended that the petitioners have committed gross irregularity amounting to an offence punishable under ss. 276dd and 276e of the it act. the petitioners have not explained their deposit or loans, etc., in their books of account and the respondents had properly given notices to them for their .....
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