Judgment Search Results Home > Cases Phrase: payment and settlement systems act 2007 section 16 power to carry out audit and inspection Court: income tax appellate tribunal itat it Page 1 of about 1 results (0.386 seconds)

In Re: Gulraj Engineering

Court : Income Tax Appellate Tribunal ITAT IT

..... . besides, there will be double charging of interest if the interest is computed up to the date of the settlement commission's order. for example, in a case of default in the payment of tax on the basis of the settlement application, the assessee will not only pay the interest at the rate of 15 per cent, under section 245d( ..... be not to permit a revision of interest when the tax is modified on an order of settlement when sub-section (1) of section 140a read with clause (a) of explanation 1 to sub-section (1) of section 234b clearly provides for payment of interest at the time of furnishing the return on the shortfall in tax on the total ..... income declared therein. besides, sub-section (4) of section 234b clearly provides for the modification of the interest payable consequent upon the order of settlement and it will not be permissible to take the .....

In Re: Ashwani Kumar Aggarwal

Court : Income Tax Appellate Tribunal ITAT IT

..... 245f(7) which was merely to regulate the commission's procedure, the power given to the commission cannot possibly include administrative powers. he then emphasized that the settlement commission was required to settle the case before it and the powers exercisable by it can only be with regard to that case and not the generality of cases ..... if he did not do so ...8. similarly, if, under section 234b, the central board of direct taxes could waive or reduce interest chargeable for default in payment of advance tax in respect of a "class of cases" in which the money seized by the department in the course of search and seizure operations under section ..... in the case of hardship, some authority should have the powers to reduce or waive the interest chargeable for furnishing the late return, interest chargeable for defaults in payment of advance tax and interest chargeable for deferment of advance tax.this power was given to the central board of direct taxes, declared as an income-lax authority .....

Airtech Pvt. Ltd., Harichand Vs. Income-tax Settlement

Court : Income Tax Appellate Tribunal ITAT IT

..... in deciding whether a case should be admitted or rejected.20. shri harish referred to the provisions of section 245e relating to reopening of completed proceedings by the settlement commission. he pointed out that there was no requirement therein that there should be an offer of additional income for the year for which the proceedings were ..... benefit to the revenue, while needlessly proliferating litigation and holding up collections. we would, therefore, suggest that there should be a provision in the law for a settlement with the taxpayer at any stage of the proceedings." 23. the bill which was introduced to give effect to the wanchoo committee's recommendations was the taxation laws ..... payable for the purposes of proviso (b) to section 245c(1) but also for the purposes of section 245d(2a) to (2d), which relate to the payment of the additional income-tax on the admission of the application. dr.balasubra-manian in the course of his arguments stated that section 245c(1d) was relevant only .....

Bombay Coal Ash Co. and ors. Vs. Income-tax Settlement

Court : Income Tax Appellate Tribunal ITAT IT

..... commissioner of income-tax objects to the application being proceeded with on certain grounds. the direct tax laws committee has recommended that the application for settlement should be rejected only after the commission is satisfied that the objection has been raised by the commissioner on proper and valid grounds. i propose ..... the materials contained in such report and having regard to the nature and circumstances of the case or the complexity of the investigation involved therein, the settlement commission may, by order, allow the application to be proceeded with or reject the application : provided that an application shall not be rejected under ..... commissioner against proceeding with the application made under section 245c. the above provisions cause delay, at times, in the disposal of applications filed before the settlement commission under section 245c. in order to expedite the disposal of such applications, the bill seeks to provide that the commissioner shall furnish the report .....

Birumal Gaurishankar JaIn and Co. Vs. Income-tax Settlement

Court : Income Tax Appellate Tribunal ITAT IT

Reported in : (1992)195ITR792ITAT

..... basis of the materials contained in such report and having regard to the nature and circumstances of the case or the complexity of the investigation involved therein, the settlement commission may, by order, allow the application to be proceeded with or reject the application : provided that an application shall not be rejected under this subsection ..... had been earlier rejected upholding the objection taken by the commissioner under section 245d(1a) would amount to a review of the very same order, which the settlement commission was not empowered to do. he then referred to the provisions of section 245k. this section provides three instances where an applicant is debarred from ..... of the order.17. for the reasons set out above, we answer the reference made to this bench as follows : 18. in a case where a settlement application made under section 245c has been rejected before september 27, 1991, upholding the objection raised by the commissioner under section 245d(1a), an application by the .....

In Re: Chander Kant JaIn and ors.

Court : Income Tax Appellate Tribunal ITAT IT

..... proceeding before the income-tax authority is an important condition. at any stage of such proceeding, the applicant can make an application to the commission for settlement of his case. the question for our consideration pertains to the proceeding in appeal which commenced with the filing of an appeal within the prescribed time. ..... law dictionaries as under : "begun, but not yet completed ; during ; before the conclusion of ; prior to the completion of ; unsettled ; undetermined ; in process of settlement or adjustment. thus, an action or suit is 'pending' from its inception until the rendition of final judgment." "legal proceeding is 'pending' as soon as commenced and until ..... the proceeding for the assessment year 1990-91 was pending before the assessing officer after he had passed the order prior to the date of filing the settlement application. the frame of the question for consideration before us also does not cover the controversy involved in this case. therefore, we decided to take .....

In Re; Damani Brothers

Court : Income Tax Appellate Tribunal ITAT IT

Reported in : (1999)238ITR36ITAT

..... determination of tax liabilities under section 245d(4). therefore, these cannot be automatically terminated on passing of admission order under section 245d(1). however, the settlement commission through express directions issued under this sub-section, may stay the operation of recovery proceedings till such time and in such manner as it deems ..... order survives, the corollary shall be that other orders passed by other authorities should also be construed as surviving. this conflicts with the underlying principles of settlement by the commission, which exercises exclusive jurisdiction. in the light of the above arguments, shri manoharan expressed the view that the commission's order under ..... income-tax authority.58. it has also been urged that since the income disclosed before the settlement commission often includes a part of the additions made by the assessing officer, the assessee is subjected to double payment of tax and interest under section 220(2) if he is forced to pay the regular .....

Amadeus Global Travel Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)113TTJ(Delhi)767

..... communication travels. the revenue is generated by the crs providing to the airlines the facility of display of airlines data information on the crs information system. the fact that the payment to the crs for the services rendered to the airlines outside india is expressed in terms of the responses received by the airlines based on the ..... iata clearing house or the a.c.h(airlines clearing house), invoices will be automatically settled though the iata clearing house or the a.c.h. the settlement of such invoices shall be in accordance with iata (or a.c.h.) clearing house regulations. in case the participant is not a member of the iata ..... s contention is based on a wrong assumption that the 'host computer' alone constitutes the crs. the server in germany is not by itself the system called central reservation system. crs is a 'system' which includes not only the host computer in germany, but also telecommunication network in india (regional network) as also the hardware & software installed on .....