Court : Punjab and Haryana
Decided on : Jan-12-2001
Reported in : (2001)171CTR(P& H)513; [2001]251ITR571(P& H)
G.S. Singhvi, J.1. In this petition filed under Section 256(2) of the Income-tax Act, 1961 (for short, 'the Act'), the petitioner has prayed for issuance of a direction to the Income-tax Appellate Tribunal, Delhi Bench 'C', New Delhi (for short 'the Tribunal'), to draw up a statement of the case and refer the following question of law to this court for its opinion :'Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that adjustment made in respect of incentive bonus on the basis of documents accompanying the return was outside the scope of Section 143(l)(a) of the Income-tax Act, 1961, and should have been made only after issue of notice under Section 143(2) ?'2. The facts of the case are that while working as a Development Officer in the Life Insurance Corporation of India, the respondent-assessee filed a return on August 16, 1994 for the assessment year 1994-95 declaring an income of Rs. 54,710. During the relevant year, he had receiv...
Tag this Judgment!Court : Punjab and Haryana
Decided on : Feb-13-2001
Reported in : I(2002)ACC134; 2002ACJ134
V.S. Aggarwal, J.1. The present appeal has been preferred by United India Insurance Company Ltd., hereinafter described as 'the appellant', directed against the award of the Motor Accident Claims Tribunal. Faridkot, dated 4.1.1986. By virtue of me impugned award, the learned Tribunal awarded compensation of Rs. 67,200/- to the claimants Asha Rani and others with a direction mat out of mis amount, Parkash Wati, sister of the deceased who is a widow and was dependent on the deceased, will get Rs. 12,000/- and the remaining amount shall be paid to the other claimants in equal shares. The liability of the Insurance Company was limited to Rs. 50,000/-. Interest was awarded at 12% per annum on the amount of compensation from the date of filing of the petition.2. The relevant facts alleged by the claimants are that on 14.8.1985 Resham Lal went to Ganesh Cotton Factory, Malout. He had gone there to get the truck loaded. Dara Singh had taken truck bearing No. RSC 2595 to Ganesh Cotton Factory f...
Tag this Judgment!Court : Punjab and Haryana
Decided on : Dec-04-2001
Reported in : [2002]254ITR299(P& H)
Jawahar Lal Gupta, J.1. On December 30, 1992, the assessee filed its return for the assessment year 1992-93. It declared an income of Rs. 1,16,99,320. The assessee had submitted a scheme of group gratuity to the Commissioner of Income-tax, Patiala. The scheme was approved by the Commissioner vide his letter dated April 23/24 of 1992. The scheme was made effective from February 1, 1992. The assessee paid an amount of Rs. 15 lakhs towards the scheme on March 31,1992, by a cheque in favour of the Life Insurance Corporation. This cheque was accepted by the Corporation, and a Policy No. GG(CA)/207345 was issued. It was made effective from February 1, 1992.The assessee claimed deduction of Rs. 15 lakhs from its income on account of the deposit having been made vide cheque dated March 31, 1992. This claim was disallowed by the Assessing Officer with the observation that the 'case is covered under Section 43B(b) read with the second proviso.' Various other deductions were also disallowed. Aggr...
Tag this Judgment!Court : Punjab and Haryana
Decided on : Oct-15-2001
Reported in : [2002]128STC466(P& H)
G.S. Singhvi, J.1. The petitioner has invoked jurisdiction of this Court under Article 226 of the Constitution of India for grant of the following substantive relief :'It is therefore respectfully prayed that appropriate writ or direction be issued that the condition imposed on deferment certificate of benefit of tax is on incremental basis be quashed and it be held that this condition cannot be imposed on units claiming tax benefits under Rule 6.3 read with Rule 2.5 of Rules known as Punjab Industrial Incentive Code under the Industrial Policy, 1996. Further Rule 4 of Punjab General Sales Tax (Deferment and Exemption) Rules, 1991 it be declared is not applicable to such cases ; if applicable the same be struck down as ultra vires Section 30A of the Punjab General Sales Tax Act, 1948 and Rule 6.3 read with Rule 2.5 of the Rules and Government policy as notified on June 1, 1996 and March 20, 1996.'2. The petitioner is engaged in the business of manufacture and sale of di-calcium phospha...
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