Court : Delhi
Reported in : (2001)165CTR(Del)582; [2000]246ITR557(Delhi)
..... and imposed a penalty of rs. 72,960. the order of the inspecting assistant commissioner was passed on march 14, 1978. at this juncture, we may note that by the taxation laws (amendment) act, 1975, sub-section (2) of section 274 was deleted from april 1, 1976.3. section 274 as it stood as on april 1, 1971, and after the deletion of sub ..... 's case : [1993]199itr610(sc) and varkey chacko's case : [1993]203itr885(sc) , the apex court considered the effect of amendment introduced by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. the position from that date has been indicated supra. before amendment it read as follows :'notwithstanding anything contained in clause (iii) of sub-section (1) of section 271, if in a .....
Tag this Judgment!Court : Delhi
Reported in : 2000VAD(Delhi)512; (2000)162CTR(Del)86; 86(2000)DLT585; [2000]245ITR233(Delhi)
..... the additions sustained by the tribunal amounting to rs. 55,011 in the appeal relating to quantum in assessment. at this juncture we may note that by taxation laws (amendment) act, 1975, sub-section (2) of section 274 was deleted with effect from 1st april, 1976. section 274, as it stood as on 1st april, ..... 55,000/- imposed by the inspecting assistant commissioner by his order dated 31.3.1979, as without jurisdiction and invalid in law, after the deletion of section 274(2) of the income-tax act by taxation laws (amendment) act, 1975 with effect from 1-4-1976 ?'2. the factual position, which is almost undisputed, so far as relevant ..... relevant. in both dhadi sahu and varkey chacko's cases (supra) apex court considered the effect of amendment introduced by taxation laws (amendment) act, 1970 with effect from 1st april, 1971. the position from that date has been indicated supra. before amendment is read as follows: 'notwithstanding anything contained in clause (iii) of sub-sec corporation (1) of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1983)5ITD492(Delhi)
..... of the appellant appears to be right. neither in the original order nor in the amended order the income-tax officer seems to have followed the provisions of law as they stood prior to the taxation laws (amendment) act, 1975. in appellant's case the penalty should have been related to the income concealed. since at the original stage itself ..... to 29-1-1976 and as such the default arose prior to the amendment has brought in by the taxation laws (amendment) act, 1975 with effect from 1-4-1976. it was by means of taxation laws (amendment) act, 1975 that the penalty under section 271(1)(c) was related to the tax. prior to this amendment the quantum of penalty was related to the income concealed. therefore, the contention .....
Tag this Judgment!Court : Delhi
Reported in : ILR1974Delhi689
..... both income-tax and stamp duty. he relies on section 269 (a) and (c) of the taxation law amendment act 1972 and sections 62 and 64(c) of the stamp act. (58) let me first examine this argument of illegality. the taxation law amendment act 1972 was passed with the following object, viz., 'tocounter evasion of tax through under statement of the ..... argument that the purchaser cannot recover because the contract entered into was illegal, hit as it was by the provisions of the stamp act and the income-tax (amendment) act. the principle of the law is that a party who repudiates before anything has been done to perform the illegal purpose can recover back his money, and that ..... (62) in my opinion the argument is untenable. section 269 (a) of the amendment act and section 64(c) of the stamp act do not strike at the transaction. they do not render the transaction illegal. such transactions are not prohibited by law. if a party under-prices the property in a deed of transfer the central government .....
Tag this Judgment!Court : Delhi
Reported in : [2000]241ITR451(Delhi)
..... , with effect from april 1, 1976, and has wrongly applied the explanationn which had been inserted earlier by the finance act, 1964. undisputably, there is significant difference between explanationn 1 as inserted by the finance act, 1964, and the one substituted by the taxation laws (amendment) act, 1975. without expressing any final opinion at this stage, lest it may prejudice the issue involved, we are of ..... the view that the order of the tribunal gives rise to a question of law.9. regarding the second question pertaining to the claim of .....
Tag this Judgment!Court : Delhi
Reported in : ILR1974Delhi617
..... tax evasion' have continued unabated. in december 1970, the committee made an interim report to deal with them and the taxation laws (amendment) act, 1972 was enacted to implement their recommendations. the salient features of the act of 1972 are as follows :- (1) an assistant commissioner of income-tax scrutinises registered instruments of transfer of immoveable ..... xxa of the income tax act, 1961 as inserted therein by taxation laws (amendment) act, 1972 (hereinafter called the act of 1972) wholly or partly a law enacted 'for the purpose of imposing or levying any tax or penalty' within the meaning of article 31(5)(b)(i) and/or is it a 'law giving effect to the policy ..... dealt with separately, for instance, under section 52 of the income-tax act, 1961. the relevant part of the act of 1972 is inserted in the income-tax act, 1961 as chapter xxa. (3) the act came into force on 15th november 1972. the taxation laws (amendment) bill, 1971 was introduced in parliament on 12th august 1971. the .....
Tag this Judgment!Court : Delhi
Reported in : [2000]245ITR342(Delhi)
..... with the learned counsel. 7. as noted above, the assessment year involved is 1968-69. we are, thereforee, concerned with the provisions of law as they existed prior to some significant amendments, like deeming provisions, brought by the taxation laws (amendment) act, 1975 with effect from 1st april, 1976. in cit vs . anwar ali, : [1970]76itr696(sc) , the locus classicus on the ..... determine the quantum of the penalty. the conclusions on the factual position arrived at by the tribunal are pure questions of fact and strictly speaking no question of law arises from the order of the tribunal. we are, thereforee, of the opinion that no fault can be found with the order of the tribunal deleting the ..... on 14.9.1968 and assuming that there was some concealment in the return, the penalty under the said section could be imposed only on the basis of law as it stood on the date on which the offence was committed and, thereforee, the minimum penalty livable being in excess of rs.1,000/- the jurisdiction .....
Tag this Judgment!Court : Delhi
Reported in : [2001]252ITR320(Delhi)
..... he was not himself a partner of the firm. the income-tax officer did not accept the plea relying upon section 64(1)(iii) of the act as amended by the taxation laws (amendment) act, 1975, with effect from april 1, 1976. the matter was carried in appeal by the assessed before the appellate assistant commissioner (the 'aac' in ..... . the stand taken by the assessed before the assessing officer and the appellate assistant commissioner was reiterated. additionally, it was pointed out that the amended provision brought in by the taxation laws (amendment) act, 1975, could not have any application because the previous year of the firm ended before april 1, 1976. in any case, interest on ..... on the facts and in the circumstances of the case, the tribunal was legally correct in holding that section 64(1)(iii) of the income-tax act, 1961, as substituted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976, was applicable to the case of the assessed ?2. whether, on the facts and in the .....
Tag this Judgment!Court : Delhi
Reported in : (2007)210CTR(Del)116; 2007(97)DRJ317; [2008]297ITR125(Delhi)
..... 1-11-2002 up to 31-08-2003. it appears to us that this may have been for the reason that by virtue of the taxation laws (amendment) ordinance, 2003, subsequently cemented by the taxation laws (amendment) act, 2003, the rate of interest stood reduced to 0.5 per cent per month with effect from 8-9-2003. accordingly, interest at ..... this period has been successively reduced by parliament, since section 132b as originally inserted into the act by income tax (amendment) act, 1965 specified the period to be six months. this period was thereafter reduced to 120 days by virtue of finance act, 2002. obviously, parliament is mindful of the fact that where assets and money belonging to ..... from whose custody they were seized after satisfaction of the tax liability existing against such person. at that time, i.e. prior to the amendments brought about by the finance act 2002, section 132b(4)(b) envisaged payment of simple interest at the rate of 15 per cent per annum on the retained money computed 'from .....
Tag this Judgment!Court : Delhi
Reported in : (2001)169CTR(Del)240; [2001]251ITR386(Delhi)
..... last day of the previous year of the family relevant to the assessment year for which the individual is to be assessed under sub-section (2).'8. after amendment by the taxation laws (amendment) act, 1975, with effect from 1-4-1976, the provision read as follows :'(b) the income derived from the converted property or any part thereof shall be ..... valuation date of the family relevant to the assessment year for which the individual is to be assessed under subsection (1a).' 11. section 4 of the wealth-tax act, as introduced by the taxation laws (amendment) act, 1975, with effect from 1-4-1976 :'4. net wealth to include certain assets.--. . . (1a) where, in the case of an individual being a ..... to take note of the provisions of section 64(2) and section 4(1a) as they stood at different points of time.7. section 64 as per the taxation laws (amendment) act, 1970, with effect from 1-4-1971 :'(2) where, in the case of an individual being a member of a hindu undivided family any property having been .....
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