Judgment Search Results Home > Cases Phrase: information technology amendment act 2008 section 46 amendment of section 87 Court: punjab and haryana Page 1 of about 207 results (0.168 seconds)

Hardayal Singh Vs. Income Tax Officer

Court : Punjab and Haryana

Reported in : (2004)188CTR(P& H)583; [2004]268ITR385(P& H)

..... the directors of the company is concerned, we might add that section 278b which was brought on the statute book w.e.f. 1st oct., 1975, by the taxation laws (amendment) act, 1975, makes only the director who was incharge of the business of the company guilty of the offences in question. since the offences were committed in the year 1965-66 ..... for the respondent that the accused had furnished fresh it return for the asst. yr. 1973-74 even subsequently and on that basis the accused could be prosecuted under the amended act, in my opinion, is misconceived. copy of the criminal complaint filed by the ito is available on the record as annex. p-1. there is not even a word ..... certain books of account relating to the asst. yr. 1973-74 and notice under section 131 of the it act was served on accused no. 1. it was alleged that on the basis of the information collected, the ito served notice under section 148 of the it act upon accused nos. 2 and 3 for reopening the assessment for the asst. yr. 1973-74. .....

Present : Mr. Sanjay Bansal Senior Advocate with Vs. the Assistant Com ...

Court : Punjab and Haryana

..... assessment, for that assessment year section 148 - issue of notice where income has escaped assessment as it existed in the year 1984 as substituted by the direct tax laws (amendment) act w.e.f. 1.4.1989 148. (1) before making the assessment, 148. (1) before making the assessment, reassessment or recomputation under section reassessment or recomputation ..... allowance, as the case may be, for the on the part of the assessee, the assessing assessment year concerned (hereafter in this officer has in consequence of information in section and in sections 148 to 153 referred to as his possession reason to believe that income the relevant assessment year) chargeable to tax has escaped assessment ..... state of law by way of judgment of the apex court is also an information on the basis of which the action could have been taken under the repealed section. now, the ito can reassess for any reason, therefore, the amended section cannot be considered to be effecting any right of the assessee xx xx xx .....

Commissioner of Income Tax Vs. Unimax Laboratories

Court : Punjab and Haryana

Reported in : (2007)213CTR(P& H)92; [2009]311ITR191(P& H)

..... like the one in hand concerning assessment years prior to 1st april, 1985. section 40(b) as it stood at the relevant time and expln. 2 inserted by taxation laws (amendment) act, 1984 w.e.f. asst. yr, 1985-86 may first be read, which is as under:40. notwithstanding anything to the contrary in sections 30 to 39, the following ..... the basic nature of relationship between a firm and its partner. in cit v. r.m. chidambaram pillai : air1977sc781 .....the provisions in chapters iii and iv of the partnership act, 1932 amply define and delineate the duties, obligations and rights of the partners vis-a-vis the firm. the question yet remains where an individual is a partner in one ..... by the firm to partners for services rendered by them on the ground of having technical qualification and expertise, though they represented their huf and section 40(b) of the it act was not attracted ?2. brief facts of the case which are necessary for disposal of this case are that the ao made an addition of rs. 62,015 under .....

Commissioner of Income Tax Vs. Modi Electric Supply Co. Ltd.

Court : Punjab and Haryana

Reported in : (2005)195CTR(P& H)261; [2005]276ITR135(P& H)

..... assessee was taken over by the punjab state electricity board (for short, 'the board') in january, 1982 under section 6(1) of the indian electricity act, 1910, as amended by the indian electricity (amendment) act, 1959 r/w sub-clause (1) of clause (9) of the bhatinda electric licence, 2003 (bikrami). the dispute relating to compensation payable to the ..... as such has been allowed, and if depreciation on certain assets has been allowed, the same are not itemised, therefore, special provisions made under section 55 of the act shall be applicable. the assessee is entitled to substitute the value as on 1st jan., 1954, of the undertaking as a whole for computation of capital gains. ..... , the aac, vide his order dt. 27th sept., 1973, held that neither any profit under section 41(2) nor any capital gains under section 45 of the act accrued to the assessee in the year under consideration. that order was challenged by the revenue before the tribunal. by an order dt. 29th jan., 1976, the tribunal .....

Commissioner of Income Tax Vs. Gurcharan Singh and Sons.

Court : Punjab and Haryana

Reported in : (1998)144CTR(P& H)76

..... sale of land situated in an urban and semi-urban area used for agricultural purposes would be agricultural income within the meaning of s. 2(1) of the act and that even after the amendment of s. 2(14)(iii) w.e.f. 1st april, 1970, the income or gains arising from the sale of agricultural land within the municipal limits ..... would not be taxable under s. 45 of the act.4. revenue filed an appeal before the tribunal which was dismissed. relying upon manubhai a. sheths case (supra), tribunal ..... from the head note) :'compulsory acquisition of agricultural land under any law for the time being in force is a transfer within the meaning of s. 2(47) of the it act, 1961. the expression 'capital asset' means property of any kind held by the assessee, whether or not connected with his business or profession. it however, does not include .....

Modern Textile and Finishing Mills Vs. Commissioner of Income Tax.

Court : Punjab and Haryana

Reported in : (1996)135CTR(P& H)335

..... of the case, the tribunal was right in holding that the explanation to s. 271(1)(c) which was deleted by the taxation laws (amendment) act, 1975 w.e.f. 1st april, 1976 was applicable to this case ?2. whether, on the facts and in the circumstances of the ..... ito had referred to the explanation which was in existence from 1st april, 1964 to 1st april, 1976. parliament, by an amendment, substituted the earlier explanation by another set of four explanations w.e.f. 1st april, 1976. the cit(a) was of the view ..... be said that the assessee had suppressed any income which would have attracted liability to tax; that s. 271(1)(c) of the act was not applicable and the penalty could not be imposed.5. we are not called upon to decide this question. this is a ..... holding that the penalty was bad in law as the ito had referred to the explanation to s. 271(1)(c) of the act, which was not in existence at the time when the assessment was framed and the notice was issued for levying the penalty. the .....

Kalyani Sales Company and anr. Vs. Union of India (Uoi) and anr.

Court : Punjab and Haryana

Reported in : AIR2006P& H107; I(2006)BC1; (2006)142PLR1; [2006]70SCL177(Punj& Har)

..... the amendments made to sections 17 and 18 of this act by sections 10 and 12 of the said act were in force at all material times.38. power of central government to make rules:-(1) the central government may, by notification and in the electronic gazette as defined in clause (s) of section 2 of the information technology act, 2000 ..... (21 of 2000), make rules for carrying out the provisions of this act.(2) in particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any ..... the said provisions make the order issued by the central government on 6.4.2004 redundant and inapplicable in view of the clear legislative intent apparent in the amending act.25. the question which now arises is as to what should be the fee payable on the application filed before the debts recovery tribunal under section 17( .....

Coca Cola India Inc. Vs. Assistant Commissioner of Income Tax and ors.

Court : Punjab and Haryana

Reported in : (2009)221CTR(P& H)225; [2009]309ITR194(P& H); [2009]177TAXMAN103(Punj& Har)

..... , it is not a case of mere change of opinion or the drawing of a different inference from the same facts as were earlier available but acting on fresh information. since, the belief is that of the ito, the sufficiency of reasons for forming the belief, is not for the court to judge but it ..... view to prevent diversion of profits in intra group transactions leading to erosion of tax revenue. the said provisions have been incorporated vide finance act, 2001 and further amended vide finance act, 2002. having regard to the object for which provisions have been enacted, applicability of the said provisions has to be limited to situations ..... india but elsewhere also. keeping in view this mischief to be remedied and to advance the object of taxing the real income, provisions have been enacted. the amended provisions certainly advance the declared object by laying down the requirement of and mechanism for determination of alp. 'international transaction' and 'associated enterprises' have been well .....

The Budhewal Co-operative Sugar Mills Ltd. Vs. Commissioner of Income ...

Court : Punjab and Haryana

Reported in : (2009)225CTR(P& H)261; (2009)156PLR215

..... produce raised by the members who are individuals but also deal with member-societies who may have purchased such goods from the agriculturists. the parliament, by it (second amendment) act, 1998, amended section 80p(2)(a)(iii) retrospectively, from 1st april, 1968. section 80p(2) and (v) as originally inserted reads thus:80p. deduction in respect of ..... (iv)....(v) the processing, without the aid of power, of the agricultural produce of its members.sub-clause (iii) of section 80p(2)(a) after amendment by it (second amendment) act, 1998 retrospectively from 1st april, 1968 reads thus:(iii) the marketing of agricultural produce grown by its members, or13. the validity of the aforesaid ..... to that part of its profits and gains as is attributable to such activities and as exceeds fifteen thousand rupees.12. the finance (no. 2) act, 1967 amended the 1961 act w.e.f. 1st april, 1968 wherein section 80p was introduced by replacing section 81(i), which provided for deduction with respect to income of .....

Swaraj Mazda Ltd. and anr. Vs. Deputy Commissioner of Income Tax and a ...

Court : Punjab and Haryana

Reported in : (1992)105CTR(P& H)109

..... the dy. cit, a preliminary objection has been raised that the direct tax laws (amendment) act, 1987, w.e.f. 1st april, 1989 has amended s. 154 of it act whereby the assessee can approach the assessing authority to amend any intimation under s. 143(1)(a) of the act if he is aggrieved against the same. it is clarified that under cl. (iii ..... ) to proviso to s. 143(1)(a) of the act adjustment in expenditure claimed can be made ..... expenditure only. this provision covers the intimation (annexure p-1) sent by the assessing authority and the petitioner has his alternative remedy under s. 154 of the act if he has any grievance against the same. thereafter, the petitioner can file appeals, reference etc., against the order passed by the assessing authority under s. 154 of .....