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Search Results Judgments > Act:INCOME TAX ACT 1961 Section 133

Oct 31 2007

Commissioner of Income Tax Vs. Cholomandalam Investemnt and Finance Co ...

  • Decided on : 31-Oct-2007

Court : Chennai

Reported in : [2009]309ITR110(Mad)

... Income-tax Appellate Tribunal is right in law in holding that the assessment has been reopened after 4 years from the end of the relevant assessment year, even though the assessee not disclosed fully and truly the material facts for completing the assessment ;is valid in law3. Learned Counsel appearing for the revenue relied on explanation (2) appended to Section 147 of the Income-tax Act ... submitted that information on 4.12.1998. In order to verify the genuineness of these transactions, a notice under Section 133(6) calling for certain information was issued to all the lessees and suppliers involved in the lease transactions. ... Section 147 of the Income-tax Act and contended that the case of the assessee would come within the purview of Sub-clause (iv) of Clause (c) of Explanation (2) to the effect that the assessee has claimed excessive loss or depreciation allowance and in that circumstance, Section ... of the assessee so as to enable the Department to reopen the assessment as the proviso to Section 147 of the Income-tax Act would squarely apply to the case of the assessee. We find no infirmity in the ... Section 133(6) and found that there was no discrepancy in it. From that, it was clear that while making the original assessment the assessing officer had called for the basic details regarding those purchases, and the assessee had furnished those details. On that basis, the assessment has been completed. This factum has been taken into consideration by the Commissioner of Income-tax ...

Dec 11 2006

Raj and Raj Investments represented by its partner Sri S. Paniraj Vs. ...

  • Decided on : 11-Dec-2006

Court : Karnataka

Reported in : (2007)213CTR(Kar)206; [2007]293ITR57(KAR); [2007]293ITR57(Karn)

... an assessee under the provisions of the Income Tax Act, whose premises, it appears, was surveyed as on 22.6.2006 by Sri. P.S. Nagaraja, Income Tax Officer, Ward 1(1) in terms of the authorisation issued in his favour by the Joint commissioner of income tax, Range-II, Mysore exercising his power under Section 133A(i) of the Income Tax Act, 1961.2. It appears the survey lasted ... documents is a later addition by Amending Act 20/2002 with effect from 1.6.2002, to which my specific attention has been drawn by Sri. Aravind, learned Counsel for the respondents.The provision reads as under:-Section 133(A) Power of survey.-(1) Notwithstanding anything contained in any other provision of this Act, an income tax authority may enter-(a) any place ... Sri. P.S. Nagaraja, Income Tax Officer, Ward 1(1) in terms of the authorisation issued in his favour by the Joint commissioner of income tax, Range-II, Mysore exercising his power under Section 133A(i) of the Income Tax Act, 1961.2. It appears the survey lasted for not less than 12 hours in the premises during the course of which the Income Tax authorities claim that ... retained; that the action taken is wholly within the permitted powers of the Income Tax Authorities under the provisions of Section 133A, particularly the act of initial retention being now authorised by the provisions of Section 133A(3)(ia) and further retention under proviso (b) to Section 133A(3)(ia) of the Act, no exception can be taken for the continued retention; that action ...

Feb 18 2011

COMMISSIONER OF INCOME TAX Vs. BINDALS APPARELS

  • Decided on : 18-Feb-2011

Court : Delhi

... 99. In that year, a survey was conducted under Section 133A of the Income Tax Act (hereinafter referred to as the Act), i.e., on 21.01.1999. For the year in question, return of income was filed by the assessee on 25.11.1999 declaring a total income of `27,04,313.50. In this return, ... Income Tax Act (hereinafter referred to as the Act), i.e., on 21.01.1999. For the year in question, return of income was filed by the assessee on 25.11.1999 declaring a total income of `27,04,313.50. In this return, `25 lacs which were offered for taxation at the time of survey were included. The Assessing Officer (AO) framed the assessment under Section ... 200 and looking from this angle, the AO's estimate of `46,95,347 could not be said to be devoid of merit.6. The Income Tax Appellate Tribunal (Tribunal for brevity) has allowed the appeal thereby deleting the said addition and holding that GP rate of 14.40% declared by ... Act), i.e., on 21.01.1999. For the year in question, return of income was filed by the assessee on 25.11.1999 declaring a total income of `27,04,313.50. In this return, `25 lacs which were offered for taxation at the time of survey were included. The Assessing Officer (AO) framed the assessment under Section 143(3) of the Act ... time of survey itself, discrepancies to the tune of `35.28 lacs was found which was unaccounted and was offered for taxation. So much unaccounted income within 9 months 21 days of the start of the business would show that it was at the rate of `3,61,850 per month. ...

Feb 20 2007

CRN Investments (P) Ltd. Vs. The Commissioner of Income Tax

  • Decided on : 20-Feb-2007

Court : Chennai

Reported in : [2008]300ITR342(Mad)

... on steel rollers and therefore, he is guilty of concealing income and had made liable for levy of penalty under Section 271(1)(c) of the Act. ' In the circumstances, the Tribunal upheld the order of the appellate authority. 9. Aggrieved of this, the assessee has come on appeal under Section 260A of the Income Tax Act, seeking admission of this case.10. Learned Counsel for the ... consequent on the information in possession of the Revenue. In the aforesaid factual backdrop, the conclusion is factual, giving rise to no questions of law. Considering the limited scope under Section 260 of the Income Tax, Act, we do not find any justification to disturb the order of the Tribunal. Consequently, the appeal stands dismissed. There will, however, be no order as to costs. ... further noted that the assessee had found that lessee had committed a fraud which had the effect of huge financial liability in the form of tax, interest and penalty coupled with threat of prosecution under the Income Tax Act, but yet had not taken any action against BSAL and not even an attempt had been made. The assessee was a major beneficiary and it ... revised return before issue of notice under Section 148 of the Act, cannot be treated as a voluntary act, that the appellant is guilty of concealing income and is liable for penalty under Section 271(1)(c) of the Act2. It is seen that the first assessment was completed originally on 1.9.1999 under Section 147 of the Act. Subsequently, the assessee filed revised Returns ...

Aug 26 2010

M/S Rajendra Prasad Subash Chand. Vs. U O I And Ors.

  • Decided on : 26-Aug-2010

Court : Rajasthan - Jaipur

... Income Tax Appellate Tribunal, Jaipur Bench 'B' Jaipur, (for short, 'the ITAT') whereby the ITAT upheld the judgment dated 26.03.2007 of the Commissioner of Income Tax (Appeals) Alwar (for short, 'the CIT'), who in its turn, confirmed the assessment order passed by the Assessing Officer. Factual matrix of the case is that on 06.05.2002 a survey under Section 133A of the Income Tax Act, 1961 ... the judgment dated 26.03.2007 of the Commissioner of Income Tax (Appeals) Alwar (for short, 'the CIT'), who in its turn, confirmed the assessment order passed by the Assessing Officer. Factual matrix of the case is that on 06.05.2002 a survey under Section 133A of the Income Tax Act, 1961 (for short, 'the Act') was conducted at the business premises of the ... Section 133A of the Income Tax Act, 1961 (for short, 'the Act') was conducted at the business premises of the appellant-assessee in which it was found that the books of account had been written only up to 26.04.2002 and no entries were thereafter made till the date of survey. The appellant-assessee, however, on 02.12.2003 filed its return of income declaring income ... under Section 133A of the Act, the case of the appellant-assessee was selected for compulsory scrutiny by issuing notice to it under Section 143(2) on 06.05.2004, however, the jurisdiction of the case was transferred to Assistant Commissioner of Income Tax, Circle-2, Alwar, as the income of the appellant-assessee exceeded Rs.5,00,000/- and therefore notice under Section ...

Mar 18 1954

S.N. Namasivayan Chettiar Vs. The State of Madras, represented by the ...

  • Decided on : 18-Mar-1954

Court : Chennai

Reported in : AIR1954Mad879

... Article 133 of the Constitution. Tile dispute related to the payment of income-tax and excess profits tax. There is no dispute regarding the amount, as the assessments have become final.The petitioner claimed that, under the proviso to Section 45 of the Income-tax Act as there was a restriction by the law obtaining in Ceylon under which he was not allowed to remit his foreign income into ... petitioner claimed that, under the proviso to Section 45 of the Income-tax Act as there was a restriction by the law obtaining in Ceylon under which he was not allowed to remit his foreign income into the taxable territory during the rele-vant period, he should not be treated as defaulter. His contention was that the Income-tax Department had no jurisdiction to treat him as ... the proviso to Section 45 of the Income-tax Act would apply to the case. As the assessee failed to establish that, the department treated him as a defaulter and proceeded to collect the tax.The question before us was whether or not the proviso should be applied to the case and whether the assessee made any efforts to remit the foreign income into the taxable ... income into the taxable territory , and that notwithstanding such efforts he was not successful. For this purpose we asked the Department, through their counsel, Mr. Rama Bao Sahib, to stay their hands for a period of two months. The dispute, therefore, related not to the amount but to the question whether the bar under the proviso to Section 45 of the Income-tax Act ...

Sep 08 2010

Vodafone International Holdings B.V. Vs. Union of India (UOI) and Anr.

  • Decided on : 08-Sep-2010

Court : Mumbai

... Section 90 of the Income Tax Act, 1961.Section 5(2) and Section 9(1) : identification of nexus :78. The charge of income tax under Sub-section (1) of Section 4 is on the total income of every person for a previous year at the rate or rates enacted in a Central Act. Under sub section (1) of Section 5, in the case of a person who is a resident, the total income ... and a further US $ 41.5 million, subsequently, Essar indicated its support to the proposed transaction.Notice under Section 133(6) :32. On 15 March 2007, the Joint Director of Income Tax (International Taxation) issued a notice under Section 133(6) of the Income Tax Act, 1961 to HEL seeking information regarding the sale of the stake of the Hutchison group, Hong Kong in HEL to ... Income Tax Act, 1961.Section 5(2) and Section 9(1) : identification of nexus :78. The charge of income tax under Sub-section (1) of Section 4 is on the total income of every person for a previous year at the rate or rates enacted in a Central Act. Under sub section (1) of Section 5, in the case of a person who is a resident, the total income of any previous year includes all income ... an effort to ensure that income is taxed only once. In India international agreements on the avoidance of double taxation, such as the one with Mauritius, are sanctified by Section 90 of the Income Tax Act, 1961.Section 5(2) and Section 9(1) : identification of nexus :78. The charge of income tax under Sub-section (1) of Section 4 is on the total income of every person for ...

Sep 14 1990

Income-Tax Officer, Calicut Vs. Smt. N.K. Sarada Thampatty

  • Decided on : 14-Sep-1990

Court : Supreme Court of India

Reported in : AIR1991SC2035; (1990)89CTR(SC)154; [1991]187ITR696(SC); JT1990(4)SC358; 1990(2)KLT940(SC); [1990]Supp1SCR473

... Article 133 of the Constitution. Hence these appeals.4. The learned single Judge held that Section 171 of the Income Tax Act does not apply to a case where the division was effected before the commencement of the accounting period, and the HUF having received no income during the accounting period it could not be assessed to tax notwithstanding the fiction introduced by Section ... .2.1963. She further alleged that the. division of Tavazhi into 14 shares was effected by a Civil Court decree in partition suit No. O.S. 22/1961 in the Court of Kozhikode. It was pointed out on behalf of the respondent that the partition suit was decreed and the properties were allotted to the ... Income Tax Act 1950 as amended in 1964 was involved. Section 29 after its amendment in 1964 made provision for assessment of Agricultural tax after partition of a Hindu Undivided Family. Under that Section there was no provision in the nature of Explanation to Section 171 of the Income Tax Act. This Court had no occasion to interpret Section 171 instead the Court interpreted Section 29 of that Act ... Section 29 of the Kerala Agricultural Income Tax Act 1950 as amended in 1964 was involved. Section 29 after its amendment in 1964 made provision for assessment of Agricultural tax after partition of a Hindu Undivided Family. Under that Section there was no provision in the nature of Explanation to Section 171 of the Income Tax Act. This Court had no occasion to interpret Section 171 instead the Court interpreted Section ...

May 09 2000

Arti Gases Vs. Director of Income-tax (Investigation)

  • Decided on : 09-May-2000

Court : Gujarat

Reported in : [2001]248ITR55(Guj)

... January, 1999. Though nothing incriminating was found, notices under the provisions of Sections 158BC and 131(1A) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), were served upon them. It is their case that the search was not proper for the reason that the provisions of Section 132 of the Act had not been complied with. In the circumstances, it has been prayed that ... by the learned advocate, Shri Puj, that such a notice can be issued only before initiation of proceedings under Section 132 of the Act. Moreover, even under the provisions of Section 133 of the Act, the Assessing Officer or the officers referred to in the said section are having power to call for infor-mation. So issuance of such a notice during or after the search ... the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), were served upon them. It is their case that the search was not proper for the reason that the provisions of Section 132 of the Act had not been complied with. In the circumstances, it has been prayed that the entire proceedings with regard to the search and seizure carried out under the provisions of Section 132 ... case, the honourable court had come to a conclusion that it was not possible to hold that the Income-tax Officer had any reason to form the necessary belief which was a condition precedent for issuance of notice under Section 34(1)(a) of the Indian Income-tax Act, 1922. For coming to the said conclusion, the Supreme Court had recorded the fact that no affidavit ...

Jun 05 2007

The Commissioner of Income Tax Vs. S. Kalaivani

  • Decided on : 05-Jun-2007

Court : Chennai

Reported in : [2008]296ITR505(Mad)

... Section 148 of the Act was issued for reassessment. Pursuant to the same, the assessee filed returns on 28.10.2003 and thereafter, notice under Section 143(2) of the Act was issued.2.2. The assessee also filed a letter requesting to consider the order of the Income Tax ... we find that the Assessing Officer has failed to exercise the powers conferred on him under Section 133(6) of the Act and/or under Section 142(2) of the I.T. Act. Further, the Assessing Officer has not pointed out any other material which would support his ... Section 142A was inserted by the Finance Act 2004 with retrospective effect from 15.11.1972?2.1. The revenue is the appellant. The assessee filed her returns on 26.2.1999, which was processed under Section 143(3) of the Act along with the returns for the assessment year 1997-98, considering the investment in building. As the Commissioner of Income Tax ... of the case, the Income Tax Tribunal is right in law in holding that Section 142A is not applicable to the facts of the present case for the assessment year 1996-97 especially when Section 142A was inserted by the Finance Act 2004 with retrospective effect from ... Section 143(2) of the Act was issued.2.2. The assessee also filed a letter requesting to consider the order of the Income Tax Tribunal and that a miscellaneous petition filed before the Tribunal in respect of the above said order is pending. However, the unexplained investment was considered for the assessment year 1996-97 and added to the income ...

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