Skip to content

Filter by :

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

Jun 22 2005

Motorola Inc., Erisson Radio Vs. Deputy C.I.T.

  • Decided on : 22-Jun-2005

Court : Income Tax Appellate Tribunal (ITAT) - Delhi

Reported in : (2005)96TTJ(Delhi)1

... Section 2(9) of the New Act. The year in which the income of the previous year is assessed and the tax is paid, is called the "assessment year". For appreciating the scheme of "assessment", we refer to the following comparative provisions of the two Acts i.e. old and new:The Indian Income-tax Act. 1922. Income-tax Act, 1961.Section 22(1) The Income-tax Officer Section ... examined the relevant statutory provisions of the Indian Income-tax Act, 1922 (Old Act) as also of the Income-tax Act, 1961 (New Act) to which our attention was drawn. We have also considered the case law cited before us. It is an admitted position that no time is prescribed under Section 142(1)(i) to issue notice.However, both the ... Acts i.e. old and new:The Indian Income-tax Act. 1922. Income-tax Act, 1961.Section 22(1) The Income-tax Officer Section 139(1) Every person, if his totalShall, on or before the 1st day of May income or the total income of any otherIn each year, give notice, by publication person in respect of which he is assessableIn the prescribed manner, requiring under this Act during the previous yearEvery person whose total income ... tax is paid, is called the "assessment year". For appreciating the scheme of "assessment", we refer to the following comparative provisions of the two Acts i.e. old and new:The Indian Income-tax Act. 1922. Income-tax Act, 1961.Section 22(1) The Income-tax Officer Section 139(1) Every person, if his totalShall, on or before the 1st day of May income or the total income ...

Oct 12 2004

U.P. Financial Corporation through its Managing Director Vs. Joint Com ...

  • Decided on : 12-Oct-2004

Court : Allahabad

Reported in : (2005)199CTR(All)155; [2006]280ITR100(All)

... of the Assessing Authority for directing special audit under Section 142(2A) of the Act.19. In the case of Bata India Ltd. and Anr. v. Commissioner of Income Tax and Ors., : [2002]257ITR622(Cal) , the Calcutta High Court' has held as under:-'The twin pre-conditions justifying the special audit under Section 142(2A) of the Income Tax Act, 1961, are the nature and complexity of the accounts ... get the previous approval of the Chief Commissioner or Commissioner of Income Tax.11. This Court in the case of Swadeshi Cotton Mills Company Ltd. (supra) has held as under:-'The exercise of the power to direct special audit under Section 142(2A) of the Income Tax Act, 1961, depends upon the satisfaction of the Income Tax Officer with the added approval of the Commissioner. But he must ... P. State Handloom Corporation. Its employees and officers have to assist the auditors who have to dig out the old records for the purpose. Further, in terms of Section 142(2D) of the Income Tax Act, 1961, the expenses of the audit have to be borne by the assessee. Therefore, the audit is likely to place substantial financial burden on the assessee. The mere ... the respondent No. 1 (Annexure -V to the writ petition);B - a writ, order 01 direction, including a writ in the nature of mandamus, declaring the provisions of Section 142(2A) of the Income Tax Act as null, void, inoperative and unconstitutional; C - any other suitable writ, order or directions, which this Hon'ble Court may deem fit and proper in the ...

May 12 2005

Yum! Restaurants India Pvt. Ltd. Vs. Commissioner of Income-tax

  • Decided on : 12-May-2005

Court : Delhi

Reported in : (2005)196CTR(Del)435; 122(2005)DLT370; 2005(83)DRJ102; [2005]278ITR401(Delhi)

... the relevant provisions of the Income-tax Act as well as the Companies Act. Despite the fact that the petitioner-Company has furnished accounts accompanied by statutory audit as well as test audit reports, still it cannot be argued that the assessing officer would have no jurisdiction to pass a direction under section 142(2A) of the Act. The legislature itself provided for ... against the assessed without any application of mind. Thus, the Court quashed the order and held as under :-'Furthermore, keeping in view the provisions of section 44AB of the income-tax Act, the provisions of section 142(2A) have to be strictly construed. The power under the aforementioned provisions should not be lightly exercised and must be based on objective criteria. The word ... Alteram Partem, if at all and to what extent is applicable to the proceedings before the Assessing officer while passing a direction as contemplated under Section 142(2A) of the Income-tax Act (for short `the Act).2. Shorn off unnecessary details, the necessary facts are : The petitioner claims to be part of Yum Group which was incorporated on 19th March, 1994 ... Rs.20 lacs and as such they had submitted the audit report as required under section 44AB of the Act. Petitioner-Company also have submitted their audit report by the Chartered Accountant under the relevant provisions of the Income-tax Act as well as the Companies Act. Despite the fact that the petitioner-Company has furnished accounts accompanied by statutory audit as ...

Feb 18 2004

West Bengal State Co-operative Bank Ltd. Vs. Joint Commissioner of Inc ...

  • Decided on : 18-Feb-2004

Court : Kolkata

Reported in : (2004)190CTR(Cal)245,[2004]267ITR345(Cal)

... 2003, passed by the Commissioner of Income-tax, Calcutta-700 021, appointing Shri P. K. Agarwala as a special auditor under Section 142(2A) of the Income-tax Act, 1961 (hereinafter referred to as 'the said Act'), and also incidentally the vires of Section 142(2A) of the said Act in so far as it covers the same field as Section 44AB of the said Act as regards its constitutionality. However, ... and purport of Section 142(2A) of the said Act has been pleased to hold that (headnote) :'Section 142(2A) of the Income-tax Act, 1961, enables the assessing authority to direct the accounts to be audited in the event of complexity of the accounts. This power can be exercised in respect of all assessees. A bare perusal of Sub-section (2A) of Section 142 leaves no manner ... Assessing Officer should have a satisfaction that the accounts of the assessee are complex in nature. This decision can be made only after seeing the accounts. Under Section 142 of the Income-tax Act, 1961, which provides for enquiry before assessment, the Assessing Officer is obliged to serve a notice on the assessee to produce or cause to be produced such accounts ... of this court while relying on the aforesaid three decisions has held on almost similar lines that (headnote) :'The twin pre-conditions justifying the special audit under Section 142(2A) of the Income-tax Act, 1961, are the nature and complexity of the accounts and the interests of the Revenue. Before an approval is sought for, the assessing authority must form an ...

Jun 09 1966

Amal Kumar Ghatak Vs. Income-tax Officer, J-Ward and Anr.

  • Decided on : 09-Jun-1966

Court : Kolkata

Reported in : [1971]79ITR452(Cal)

... 142 of the Income-tax Act, 1961 (hereinafter referred to as 'theAct'), deals with the powers of the Income-tax Officer to direct an assesseeto produce books of accounts and also to furnish in writing information onsuch maters as the Income-tax Officer may require. But this power of theIncome-tax Officer, Mr. Pal argued, was subject to the power imposed byClause (b) of the proviso to Sub-section (1) of Section 142 ... by the Income-tax Officer under Section 131 of the Income-tax Act, 1961, being a notice dated 1st May, 1964. By this notice the petitioner was called upon to attend personally at the office of the Income-tax Officer with all books of accounts for the years 1955, 1956, 1957 and 1958.2. The petitioner contends that his assessments up to the assessment year 1961-62 ... to refer to the notice itself which has been issued by the Income-tax Officer. This notice is headed 'Summons of assessees under Section 131 of the Income-tax Act, 1961. ' In the body of the notice there is a direction upon the petitioner to attend at the office of the Income-tax Officer on a particular day and at a particular hour and this ... Section 131 of the Income-tax Act, 1961, being a notice dated 1st May, 1964. By this notice the petitioner was called upon to attend personally at the office of the Income-tax Officer with all books of accounts for the years 1955, 1956, 1957 and 1958.2. The petitioner contends that his assessments up to the assessment year 1961-62 have been duly completed and the tax ...

Nov 01 2006

Rajesh Kumar and Ors. Vs. D.C.I.T. and Ors.

  • Decided on : 01-Nov-2006

Court : Supreme Court of India

Reported in : AIR2007SC181; (2006)206CTR(SC)175; [2006]287ITR91(SC); JT2006(10)SC76; 2006(11)SCALE409; (2007)2SCC181

... S.B. Sinha, J.1. Leave granted.2. Appellant No. 1 is a proprietary concern. It is an assessee under the Income Tax Act, 1961 (for short 'the Act'). A raid was conducted in their premises on 18.12.2002. Some documents including their books of accounts were seized; a few of which were in the hard disk of ... in terms of Section 139 of the Act. Various other steps in that behalf are also contemplated under Sections 139A, 140 and 141A of the Act. An inquiry may be made prior to passing of an order of assessment by the assessing officer under Section 142 of the Act. Section 136 raises a legal fiction that proceeding under the Act shall be a judicial proceeding and every income tax authority shall ... under Section 142 of the Act. Section 136 raises a legal fiction that proceeding under the Act shall be a judicial proceeding and every income tax authority shall be deemed to be a civil court for the purposes of Section 195 of the Code of Criminal Procedure. The power of inquiry conferred upon the assessing authority is of wide amplitude.Sub-sections (2A), (2B), (2C), (2D) and (3) of Section 142 ... also contemplated under Sections 139A, 140 and 141A of the Act. An inquiry may be made prior to passing of an order of assessment by the assessing officer under Section 142 of the Act. Section 136 raises a legal fiction that proceeding under the Act shall be a judicial proceeding and every income tax authority shall be deemed to be a civil court for the purposes of Section 195 of ...

Nov 29 1999

Dr. A.K. Bansal Vs. Assistant Commissioner Of

  • Decided on : 29-Nov-1999

Court : Income Tax Appellate Tribunal (ITAT) - Allahabad

Reported in : (2000)73ITD49(All.)

... section 131 of the Income-tax Act, 1961 or a notice under sub-section (4) of section 22 of the Indian Income-tax Act, 1922 or sub-section (1) of section 142 of the Income-tax Act, 1961 is issued to Mr. Pradeep Kar (name of the person) to produce or cause to be produced, books of account or other documents which will be useful for or relevant to proceedings under the Indian Income-tax Act, 1922, or under the Income-tax Act, 1961 ... : If a summons under sub-section (1) of section 37 of the Indian Income-tax Act, 1922 or under sub-section (1) of section 131 of the Income-tax Act, 1961 or a notice under sub-section (4) of section 22 of the Indian Income-tax Act, 1922 or sub-section (1) of section 142 of the Income-tax Act, 1961 is issued to Mr. Pradeep ... If a summons under sub-section (1) of section 37 of the Indian Income-tax Act, 1922 or under sub-section (1) of section 131 of the Income-tax Act, 1961 or a notice under sub-section (4) of section 22 of the Indian Income-tax Act, 1922 or sub-section (1) of the section 142 of the Income-tax Act, 1961 is issued to Mr. Pradeep ... Income-tax Act, 1961 or a notice under sub-section (4) of section 22 of the Indian Income-tax Act, 1922 or sub-section (1) of the section 142 of the Income-tax Act, 1961 is issued to Mr. Pradeep Kar (name of the person) to produce or cause to be produced, books of account or other documents which will be useful for or relevant to proceedings under the Indian Income-tax Act, 1922, or under the Income-tax Act, 1961 ...

May 29 1990

Grindlays Bank Plc. Vs. Commissioner of Income-tax

  • Decided on : 29-May-1990

Court : Kolkata

Reported in : (1992)101CTR(Cal)164,[1994]207ITR454(Cal)

... Section 142 was merely trying to determine the tax payable by the assessee. It was a step taken for the purpose of computation of the total income and the tax payable thereon.13. Section 22 of the 1922 Act has been split up and reproduced in a number of sections. Section 142(1) of the Income-tax Act, 1961, substantially reproduces the provisions of Section 22(4) of the Indian Income-tax Act ... tax.'12. Therefore, the Income-tax Officer by issuing the notice under Section 142 was merely trying to determine the tax payable by the assessee. It was a step taken for the purpose of computation of the total income and the tax payable thereon.13. Section 22 of the 1922 Act has been split up and reproduced in a number of sections. Section 142(1) of the Income-tax Act, 1961, substantially reproduces the provisions of Section ... sections to determine the amount of tax.'12. Therefore, the Income-tax Officer by issuing the notice under Section 142 was merely trying to determine the tax payable by the assessee. It was a step taken for the purpose of computation of the total income and the tax payable thereon.13. Section 22 of the 1922 Act has been split up and reproduced in a number of sections. Section 142(1) of the Income-tax Act, 1961 ...

Mar 28 1996

Dr. Vijaykumar Datla Vs. Assistant Commissioner Of

  • Decided on : 28-Mar-1996

Court : Income Tax Appellate Tribunal (ITAT) - Hyderabad

Reported in : (1996)58ITD339(Hyd.)

... Act was issued by the Income-tax Officer on 12-1-1953 and served on the assessee on 21-1-1953. The assessee challenged the assessment as the notice calling upon the assessee to file the return was beyond the time limit prescribed under section 14 of that Act which is equivalent to sections 147 to 149 of the Income-tax Act, 1961. Section 14 of that Act provided that if the Income-tax ... voluntarily under section 139 of the Income-tax Act, 1961 before the due dates varying between 30th June, 1991 and 31st October, 1991. They were not filed. The Assessing Officer issued notices under section 142 (1)(i) of the Income-tax Act in all these cases on 26-5-1992. The assessees did not file any return in pursuance thereof. Another notice was issued under section 142 (1)(i ... section 11 (1) of that Act was issued by the Income-tax Officer on 12-1-1953 and served on the assessee on 21-1-1953. The assessee challenged the assessment as the notice calling upon the assessee to file the return was beyond the time limit prescribed under section 14 of that Act which is equivalent to sections 147 to 149 of the Income-tax Act, 1961. Section 14 of that Act ... of section 22 (2) of the Indian Income-tax Act as per minority decision.15. Let us see whether there is any change brought about on this aspect by deleting section 139 (2) of the Income-tax Act, 1961, and retaining the provision in the amended provisions of section 142 (1)(i). Prior to 1-4-1989, an assessee was to be issued a notice under section 139 (2 ...

Jul 27 2004

Jharneshwar Nagrik Sahakari Bank Maryadit Vs. Union of India

  • Decided on : 27-Jul-2004

Court : Madhya Pradesh

Reported in : (2006)198CTR(MP)345

... Section 80P(2)(a)(i) of Income Tax Act exempts the income-tax from Banking Operations. Undisclosed income is not subjected to exemption, which is to be determined under section 158BC. Authorisation under section 132 was issued.8. Shri Sumit Nema, learned counsel appearing for the petitioner has strenuously urged that there is absolutely no basis to exercise the power under section 142(2A) of Income Tax Act. Notice under section ... was not to gain time for completing the assessment under section 158BC of Income Tax Act.10. The main question for consideration is whether exercise of power under section 142(2A) of Income Tax Act is proper. Section 142(2A) of Income Tax Act reads thus:'(2A) If, at any stage of the proceedings ... section 158BC. Authorisation under section 132 was issued.8. Shri Sumit Nema, learned counsel appearing for the petitioner has strenuously urged that there is absolutely no basis to exercise the power under section 142(2A) of Income Tax Act. Notice under section 158BC was issued at the fag end of limitation of the two years. In order to gain the limitation, power under section 142(2A) of Income Tax Act ... Income-tax in exercise of power under section 142(2A) of Income Tax Act directing the petitioner to get the accounts audited by Auditor/respondent No. 4. Petitioner has also prayed for quashment of order (P-5) dated 25-2-2004 passed by respondent No. 2 refusing to withdraw the directions under section 142(2A). A notice (P-2) dated 6-1-2004 was issued under section ...

Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //