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Search Results Judgments > Act:INCOME TAX ACT 1961 Section 142

Mar 03 2005

Commissioner of Income Tax Vs. Modern Spinners Ltd.

  • Decided on : 03-Mar-2005

Court : Delhi

Reported in : (2005)195CTR(Del)462; 118(2005)DLT205; 2005(81)DRJ154; [2006]284ITR308(Delhi)

... on 24.11.1995 declaring a loss of Rs. 57,99,781/-. The return was processed under Section 143(1)(a) of the Income Tax Act (hereinafter referred to as the Act) without making any adjustment.The Assessing Officer issued a notice to the assessed under Section 143(2) and 142(1) Along with a questionnaire on 26th September, 1996 and the case was taken up for ... to the expression `ascertained liability' is in consonance with the scheme of the Act. The present appeal thus raises no substantial question of law in terms of the principle laid down by different judgments including the Division Bench Judgment of this Court in the case of Commissioner of Income Tax Vs . S.R. Fragnances Ltd., .7. For the reasons aforestated we find no ... the reasoning given by the Commissioner of Income Tax (Appeal) has been correctly rejected by the Tribunal.6. Further more, the reasoning given by the Tribunal cannot be faulted with, even on the plain reading of the relevant provisions. The interpretation given to the expression `ascertained liability' is in consonance with the scheme of the Act. The present appeal thus raises no substantial ... this order, the assessed preferred an appeal which was also dismissed by the Commissioner of Income Tax, Appeals, New Delhi vide his order dated 18th August, 1998. The view taken by the Assessing Officer as well as the Commissioner of Income Tax, Appeal, was set aside by the Income Tax Appellate Tribunal upon appeal by the assessed and vide its order dated 12th January, 2004 ...

Jan 24 2007

The Commissioner of Income Tax-XI Vs. Shri R.N. Kumar

  • Decided on : 24-Jan-2007

Court : Delhi

Reported in : 137(2007)DLT99; [2007]291ITR397(Delhi)

... loss of Rs. 87,351/-. On receipt of information from ADI, Bombay, a notice under Section 148 of the Income Tax Act (for short 'Act') was issued to the assessed in March, 1985. The assessed did not file any return. Accordingly, Assessing Officer issued notice under Section 142(1) of the Act and the reassessment was done by making addition of Rs. 3,10,000/- on account of ... a particular stage and that lapse of time must induce repose in spheres of human activities. So far as the income tax assessment orders are concerned, they cannot be reopened on the score of income escaping assessment under Section 147 of the Act of 1961 after the expiry of four years from the end of assessment year unless there be omission order failure on the part ... by the Income Tax Appellate Tribunal, Delhi Bench 'SMC' in ITA No. 3869(Del)/2005 for the assessment year 1980-81. 2. The brief facts are that the original assessment in this case was completed on 28th February, 1983 at a loss of Rs. 87,351/-. On receipt of information from ADI, Bombay, a notice under Section 148 of the Income Tax Act (for short 'Act') was ... the Tribunal. Thus, the order of Tribunal does not give rise to a question of law, much less a substantial question of law, to fall within the limited purview of Section 260A of the Income Tax Act, which is confined to entertaining only such appeals against the order which involves a substantial question of law.13. Accordingly, the present appeal is, hereby, dismissed.

Dec 21 2001

Council of Institute of Chartered Accountants of India, New Delhi Vs. ...

  • Decided on : 21-Dec-2001

Court : Delhi

Reported in : 2002IAD(Delhi)757; AIR2002Delhi281; [2002]111CompCas349(Delhi)

... to appear before the Income Tax Officer in response to the notice under Section 143(2) and 142(1) of the Income Tax Act for the Assessment Years 1988-89. Resultantly, assessment was made ex-parte under Section 144, at a total income of Rs. 2,57,361/- as against declared income of Rs. 41,170/-. (2) The respondent even failed to appear before the Commissioner of Income Tax (Appeals) filed ... the Act.2. Facts giving rise to the making of the reference are as follows:-A complaint dated 27th February, 1991 was filed by Mrs. Sushma Shourie in which the allegations were made to the following effect : (1) the respondent had failed to appear before the Income Tax Officer in response to the notice under Section 143(2) and 142(1) of the Income Tax Act for ... Section 21(6) of the Act.2. Facts giving rise to the making of the reference are as follows:-A complaint dated 27th February, 1991 was filed by Mrs. Sushma Shourie in which the allegations were made to the following effect : (1) the respondent had failed to appear before the Income Tax Officer in response to the notice under Section 143(2) and 142( ... he failed to discharge his duties as a Chartered Accountant. Having been engaged to represent the Complainant, before the tax authorities his non-appearance on various dates before the assessing officer as well as the Commissioner of Income-tax (Appeals), was an act of sheer carelessness. The non-appearance of the Respondent resulted in ex-parte orders which created considerable problems for ...

Sep 14 2007

Municipal Corporation of City of Thane Vs. Vidyut Metallics Ltd. and A ...

  • Decided on : 14-Sep-2007

Court : Supreme

Reported in : JT2007(11)SC131; 2007(11)SCALE142; (2007)8SCC688; (2009)20VST680(SC)

... it was not open to the Income Tax Officer, Ahmedabad to revise or reconsider the previous order passed by the Income Tax Officer, Bombay and to revive the original family as if there was no partition and the status of joint family continued to exist.20. The Court observed; 'It is true that an assessment year under the Income Tax Act is a self- contained assessment ... to the Maharashtra Municipalities (Octroi) Rules, 1974 (hereinafter referred to as 'the Rules'). The Company was also maintaining a current account with the Corporation under Section 142 of the Maharashtra Municipalities Act, 1965 (hereinafter referred to as 'the Act').3. It is the case of the Corporation that in the year 1974, a sudden turn was taken by the Company. It obtained a ... of determining and computing the liability to pay tax or octroi on that basis in subsequent years. A decision taken by the authorities in the previous year would not estop or operate as res judicata for subsequent year. [vide Maharana Mills (P) Ltd. v. ITO : [1959]36ITR350(SC) ; Visheshwar Singh v. CIT : [1961]41ITR685(SC) ; Instalment Supp (P) Ltd. v. ... not 'Ieadem questio', and therefore, the principle of 'res judicata' cannot apply.(emphasis supplied)16. In Udayan Chinubhai v. Commissioner of Income Tax, Gujarat : [1967]63ITR416(SC) , this Court stated; It is true that an assessment year under the Income Tax Act is a self-contained assessment period and a decision in the assessment year does not ordinarily operate as res judicata in ...

Sep 01 2006

Travancore Cements Ltd. Vs. Assistant Commissioner of Income Tax

  • Decided on : 01-Sep-2006

Court : Kerala

Reported in : (2008)219CTR(Ker)359; 2006(4)KLT344; [2009]179TAXMAN117(Ker)

... Assistant Commissioner of Income Tax directing the assessee to ensure compliance with the statutory notification issued under Section 143(2) and 142(1) of the Income Tax Act, 1961 without fail and also for other consequential reliefs.2. Petitioner is a company owned by the State Government engaged in the business of manufacture of cement and cement paints at Kottayam and is an assessee under the Income Tax Act 1961, on ... the Income Tax Act 1961, on the files of the second respondent. In respect of the assessment year 2000-2001 petitioner filed its original return on 28.11.2000 declaring a total income of Rs. 2,37,56,900/-. A revised return was filed on 05-01-2001 with a revised total income of Rs. 1,91,32,250/- along with the audit report under Section ... Income Tax Act as well as Ext.P8 notice under Section 142 of the Income Tax Act has embarked upon a roving enquiry on issues which are unconnected with the issue which forms the basis of proceedings initiated under Section 147 of the Act vide Exts.P5 and P6. It is trite law that general enquiry can be made only by issuing notice under Sub-section (2) of Section 143 ... Section 143(2) of the Income Tax Act as well as Ext.P8 notice under Section 142 of the Income Tax Act has embarked upon a roving enquiry on issues which are unconnected with the issue which forms the basis of proceedings initiated under Section 147 of the Act vide Exts.P5 and P6. It is trite law that general enquiry can be made only by issuing notice under Sub-section ...

May 06 2004

Sesa Goa Ltd. Vs. Joint Commissioner of Income-tax and Ors.

  • Decided on : 06-May-2004

Court : Mumbai

Reported in : (2007)213CTR(Bom)579; [2007]294ITR101(Bom)

... purportedly under Section 148 of the Income-tax Act, 1961 (for short 'the Act'), in respect of the assessment year 1991-92.3. The facts giving rise to the petitioner are briefly stated below:The petitioner is a company mainly engaged in the business of mining and export of iron ore and construction and repairs of marine crafts, and is an assessee under the Act since ... in the proviso to Section 147 of the Act for issuance of a notice under the proviso to Section 147. The restriction of four years would be applicable unless the income chargeable to tax has escaped assessment by reason of failure of the assessee to make a return under Section 139 or in response to a notice under Section 142 or 148 of the Act or the failure ... the audit report under Section 144AB of the Income-tax Act. We have also perused the copy of the assessment order dated March 22, 1994, made under Section 143(3) of the Income-tax Act. We are satisfied that the assessee had truly and fully disclosed all material facts necessary for the purpose of assessment. The assessee had clearly disclosed that its income consisted of income from (i) sale ... for the parties, we have perused the copies of the return of income filed by the assessee and the annexures thereto including the audit report under Section 144AB of the Income-tax Act. We have also perused the copy of the assessment order dated March 22, 1994, made under Section 143(3) of the Income-tax Act. We are satisfied that the assessee had truly and fully disclosed ...

Feb 23 2007

Manish Maheshwari Vs. Asstt. Commissioner of Income Tax and Anr.

  • Decided on : 23-Feb-2007

Court : Supreme

Reported in : AIR2007SC1696; (2007)208CTR(SC)97; [2007]289ITR341(SC); JT2007(4)SC104; 2007(3)SCALE627; (2007)3SCC794

... terms:If a summons under Sub-section (1) of Section 131 of the Income Tax Act, 1961 or under Sub-section (1) of Section 142 of the Income Tax Act, 1961 is issued to Shri Rameshwar R. Maheshwari, Smt. Lalita Devi.To produce, or cause to be produced, books of accounts or other documents of the institution or relevant proceedings under the Income Tax Act, 1961 he would not produce or ... Section 158BD of the Act read with Section 2(31) thereof. The Block Assessment Period is 1987-88 to 1995-96. The search was conducted on 21.11.1995, where for a warrant of authorization was issued on 15.10.1995 in the following terms:If a summons under Sub-section (1) of Section 131 of the Income Tax Act, 1961 or under Sub-section (1) of Section 142 of the Income Tax Act, 1961 ... the Indian Income Tax Act, 1922 or the Income Tax Act, 1961.5. We may also notice that purported compliance of Section 158BD was sought to be made by issuing a notice to the Company on 06.02.1996, which is as under:ToIndore Construction Co. Pvt. Ltd.380, Jawahar Marg,IndoreIn pursuance of provisions of the Section 158BC of the Income Tax Act, 1961, you ... of provisions of the Section 158BC of the Income Tax Act, 1961, you are requested to prepare a true and correct return of your total income including the undisclosed income in respect of which you as individual / HUF / Firm / Company / AOP / Body of individual/local authority are assessable for the block period mentioned in Section 158B(a) of the Income Tax Act, 1961.The return ...

Nov 21 1972

D.R. Puttanna Vs. Commissioner of Income-tax, Mysore

  • Decided on : 21-Nov-1972

Court : Karnataka

Reported in : [1974]96ITR333(KAR); [1974]96ITR333(Karn)

... J.1. The Income-tax Appellate Tribunal, Bangalore Bench, under section 256(1) of the Income-tax Act, 1961, has referred the following question for the opinion of this court :'Whether, on the facts and in the circumstances of the case, it has been rightly held that no notice under section 142(1) was necessary to complete the assessment under section 144 ?'2. The assessee ... Income-tax Act, 1961, has referred the following question for the opinion of this court :'Whether, on the facts and in the circumstances of the case, it has been rightly held that no notice under section 142(1) was necessary to complete the assessment under section 144 ?'2. The assessee is a Hindu undivided family and the assessment relates to the year 1963-64. The Income-tax ... Income-tax v. Segu Buchiah Setty AAXD, has held that the conditions are alternative and not cumulative. In view of the said decision, it is conclusive under the 1961 act also. It was however, argued by Sri Albal, learned counsel for the assessee, that there is a change in the language of section 142(1) and the word 'may' occurring in sub-section (1) of section 142 ... section under the 1922 Act is section 23(4). The Supreme Court in Commissioner of Income-tax v. Segu Buchiah Setty AAXD, has held that the conditions are alternative and not cumulative. In view of the said decision, it is conclusive under the 1961 act also. It was however, argued by Sri Albal, learned counsel for the assessee, that there is a change in the language of section 142 ...

Aug 28 2006

Chandra Prakash Agrawal Vs. Assistant Commissioner of Income-tax and O ...

  • Decided on : 28-Aug-2006

Court : Allahabad

Reported in : (2006)206CTR(All)505; [2006]287ITR172(All)

... . Agrawal, J.1. In all these writ petitions, the petitioners who belong to the same group, have challenged the notices issued to them under Section 148 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), in respect of the various assessment years beginning from 2000-01 to 2002-03, which vary in each of the petitions. As all these ... believe that-(a) any person to whom a summons under Sub-section (1) of Section 37 of the Indian Income-tax Act, 1922 (11 of 1922), or under Sub-section (1) of Section 131 of this Act, or a notice under Sub-section (4) of Section 22 of the Indian Income-tax Act, 1922, or under Sub-section (1) of Section 142 of this Act was issued to produce, or cause to be produced, ... Act which contains Sections 158B to 158BI:132A. Power to requisition books of account, etc.-(1) Where the Director General or Director or the Chief Commissioner or Commissioner, in consequence of information in his possession, has reason to believe that-(a) any person to whom a summons under Sub-section (1) of Section 37 of the Indian Income-tax Act, 1922 (11 of 1922), or under Sub-section ... Section 132A and Chapter XIV-B of the Act which contains Sections 158B to 158BI:132A. Power to requisition books of account, etc.-(1) Where the Director General or Director or the Chief Commissioner or Commissioner, in consequence of information in his possession, has reason to believe that-(a) any person to whom a summons under Sub-section (1) of Section 37 of the Indian Income-tax Act ...

Dec 07 1990

Income-tax Officer and Ors. Vs. Biju Patnaik

  • Decided on : 07-Dec-1990

Court : Supreme

Reported in : AIR1991SC464; (1991)91CTR(SC)95; [1991]188ITR247(SC); JT1990(4)SC731; 1990(2)SCALE1248; 1991Supp(1)SCC161; [1990]Supp3SCR488

... assessed to income tax for the assessment year 1957-58 ending with financial year March, 31, 1957. On transfer on point of jurisdiction, the Income-tax Officer, Special IV Circle, Cuttack had drawn his proceeding on July 2. 1965 to reopen the assessment under Sections 147(a) and 148 of the Income-tax Act, 1961 (for short 'the Act') and obtained the approval of the Commissioners of Income-tax, Cuttack ... consideredfor the transfer of the goodwill, it was not liable to capital gains tax. The satisfaction arrived at by the Income- tax Officer under Section 147(a) did not exist on the facts of the instant case. The impugned notices under Section 147(a) read with Section 148 and Section 142(1) of the Act are without jurisdiction and illegal. Shri Ahuja, the learned Counsel appearing ... the income was received before March 31,1956 by which date Section 12-B of the Indian Income-tax Act had not come into force. Accepting the sum of Rs. 15,00,000/- was excluded from the consideration of the assessment. The subsequent information in possession of the Income-tax Officer discloses that the assets were transferred on November 3, 1956 by which date Section ... .4. Section 12-B of the Indian Income tax Act, 1922 making capital gains exigible to tax had come into force with effect from April 1, 1957. Therefore, for the assessment year 1956-57 ending with financial year March 31, 1956 the capital gains was not exigible to tax. It is not also in dispute that the respondent claimed that the income of Rs ...

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