Court : Andhra Pradesh
Reported in : 2000(4)ALD33; 2000(4)ALT215; 246ITR232(AP)
..... be taken as forming part of record of appeal and be taken into account for the purpose of correcting the mistake under section 35 of the income tax act, 1922. the ratio of that decision in our view, has no application as there is world of difference in facts. the ratio of the ..... ) :'we may clarify that, as far as completed transactions are concerned, namely, where, after the order for compulsory purchase under section 269ud of the income tax act was made and possession has been taken over, compensation was paid to the owner ofthe property and accepted without protest, we see no reason to upset ..... reddi, j. 1. the impugned order passed in exercise of the powers vested in appropriate authority under section 269ud(1) of the income tax act directs pre-emptive purchase of the property belonging to the estate of late mrs. leila d. lein and the payment by central government ..... 17315 of 1989, the high court stayed the dispossession of the petitioners. however, the possession was purportedly taken over by the nominated officer of the income tax department from respondent no.5 on 19-12-1989. by that time, the order of stay was not received by the appropriate authority. before taking ..... income tax officer's order relating to assessment year 1959-60.'19. it is on those peculiar facts, their lordships of the supreme court held that the subsequent decision of the tribunal regarding the value of closing slock of 1959-60 could form the basis for exercising the power under section 35 of the old act .....Tag this Judgment!
Court : Guwahati
..... the tribunal that the order of assessment was passed only on march 30, 1988, and not beyond the normal period of limitation prescribed under section 153(l)(a) of the income-tax act is based on any evidence and/or material on record relevant to the assessment order passed in the case of the assessee and/or is perverse and unsustainable in law ..... can fix a notional interest as due, or collected by the assessee. our attention has not been invited to any provision of the income-tax act empowering the income-tax authorities to include in the income, interest which was not due or not collected. in this view, we answer question no. (ii) in the negative, that is, in favour of the assessee and against the revenue ..... passed on march 28, 1988, by the assessing officer inthe assessment records reversing the decision of the commissioner of income-tax (appeals) holding that the said order of assessment was passed beyond the normal period of limitation prescribed under section 153(1) of the income-tax act, expiring on march 31, 1988 2. whether, on the facts and in the circumstances of the case, the ..... p.g. agarwal, j. 1. in this case, the following seven references were made under section 256(2) of the income-tax act, 1961 (for short 'the act'): '1. whether, on the facts and in the circumstances of the case and on the materials on record the tribunal was justified in law in holding that the order of .....Tag this Judgment!
Court : Guwahati
..... the supreme court as quoted hereinabove, we are clearly of opinion that in the instant case the authority has jurisdiction to issue the impugned notice under section 148 of the income-tax act. in the result, we find that this petition has no merits. 19. the petition is accordingly rejected. the rule is discharged. we, however, make no order as to ..... article 226 of the constitution of india the petitioner has challenged the notice under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the 1961 act'), issued by the income-tax officer, ' a ' ward, jorhat, to the petitioner-firm. the petitioner submitted its return of income for the assessment year 1958-59, corresponding to the accounting year r. n. 2014, along with ..... for the assessment year 1958-59 were completed by the income-tax officer, jorhat, under section 23(5)(a) of the indian income-tax act, 1922, on october 30, 1958. the income-tax officer estimated the income of the-petitioner-firm at rs. 22,863. the partners of the firm paid tax separately on the share of income of the firm. 2. the petitioner-firm thereafter received ..... fully and truly all material facts necessary for its assessment for the assessment year in question, income chargeable to tax had escaped assessment for that year.12. in calcutta discount co. ltd. v. income-tax officer : 41itr191(sc) while considering section 34(1)(a) of the indian income-tax act, 1922, the supreme court has observed as follows: ' before we proceed to consider the .....Tag this Judgment!
Court : Guwahati
..... to the provisions of section 147(a), it was held (p. 427) : 'the principle in such cases is culled from the words in clause (a) of section 147 of the income-tax act. the words are whether the assessee disclosed 'fully and truly all material facts necessary for assessment'. once the assessee does that, what inferences are to be drawn is in the ..... court for opinion ; 'whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that the reassessment proceedings under section 147(a) of the income-tax act, 1961, for the assessment years 1958-59 and 1959-60 were not valid in law ?' 2. the assessee is an individual. the years involved are assessment years 1958-59 and ..... officer was satisfied with the genuineness of the transaction at the time of the original assessment, it does not lie in the power of the subsequent income-tax officer to initiate action under section 147 of the income-tax act.' 8. in view of the aforesaid observation, the orders of reassessment for both the assessment years were cancelled by the tribunal and the order of ..... 1959-60. the original assessment for the assessment year 1958-59 was made by the income-tax officer on an income of rs. 5,301 by order of assessment dated april 10, 1961. subsequently, the income-tax officer initiated proceedings for reassessment under section 147 of the income-tax act by issue of a notice under section 148 to the legal representative of the assessee (as .....Tag this Judgment!
Court : Patna
..... indicated in the order as to underwhat provision the interest was being levied because interest is chargeable under section 139(8) as well as other provisions of the income-tax act. wedo not find any substance in this contention. it is well-settled, followingthe decision of the supreme court referred to above, that levy of interestis a part ..... petitions were filed before the andhra pradesh high court challenging the notices levying interest under section 139(8) of the income-tax act. the high court had held that the provisions of rule 117a of the income-tax rules imply that opportunity should be given to the assessee to show cause why no interest should be levied and as ..... the omission or default in the submission of the return/payment of tax within the prescribed period and, therefore, the levy is compensatory in nature. on the ..... the later stage.4. in central provinces manganese ore co. ltd. v. cit : 160itr961(sc) , which is a decision of the supreme court, the apex court has held that interest is levied under section 139(8) or section 215 of the income-tax act to compensate the revenue for the loss which it suffers by reason of ..... 1. this reference under section 256(1) of the income-tax act, 1961, is at the instance of the revenue. the questions of law referred to this court for its opinion are as follows : '1. whether, .....Tag this Judgment!
Court : Guwahati
..... , 1994, in civil rule no. 34(m) of 1992, the following questions have been referred by the income-tax appellate tribunal, gauhati bench, guwahati, under section 256(2) of the income-tax act, 1961 (for short, 'the act'), for opinion of this court : ' (1) whether the tribunal did not err in facts as well ..... relying on the decision of the apex court in kusumben d. mahadevia v. cit : 39itr540(sc) , mr. joshi draws our attention to page 544 where the apex court observed thus : 'section 66 of the income-tax act which confers jurisdiction upon the high court only permits a reference of a question of ..... officer the assessee claimed deduction towards expenses made for maintenance of the agency and this matter was taken up suo motu by the commissioner of income-tax who reversed it. the matter came up before the tribunal also. the tribunal was to consider whether the expenses made for the maintenance of ..... by mr. joshi. he also submits that as per the decision of this court in income-tax reference no. 29 of 1993 (cit v. assam frontier tea ltd. ), clause (ix) of section 35b(1)(b) of the act is not attracted in the facts and circumstances of the case. but mr. gogoi argues ..... 859 towards cost of maintaining warehouses outside india. the assessing officer allowed the deduction. by exercising power of revision suo motu, the commissioner of income-tax reversed the decision of the assessing officer allowing deduction of l/3rd of rs. 97,59,385, the amount spent for maintaining warehouses outside india .....Tag this Judgment!
Court : Guwahati
..... the assessee failed to file the return within the time prescribed under section 139(3) of the income-tax act, 1961 ?'2. to answer the reference, it is necessary to narrate the short facts of the case.3. the assessing officer mentioned in the assessment order that the total loss ..... within time.6. under section 139(1) of the income-tax act, every person, if his total income or the total income of any other person in respect of which he is assessable under the act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall furnish a return of his income or the income of such other person during the previous year, in ..... . baruah, j.1. the following question has been referred under section 256(1) of the income-tax act at the instance of the department ; 'whether, on the facts and in the circumstances of the case, the tribunal was justified in upholding the order of the commissioner of income-tax (appeals) in directing the assessing officer to allow carry forward of loss to the assessee although ..... time prescribed so as to attract the provisions of section 72 of the act. therefore, the reference is answered in the affirmative and against the department. a copy of this judgment under the signature of the registrar and the seal of the high court shall be transmitted to the income-tax appellate tribunal.8. in the facts and circumstances of the case, there .....Tag this Judgment!
Court : Patna
..... assessment of net profit was also in order. the tribunal, however, held that disallowance of depreciation was not in order because allowance of depreciation under section 32 of the income-tax act is mandatory and was not a matter dependent on the genuineness of the books of account. the tribunal directed the revised return to be accepted. the appeal was allowed in ..... completely ignored. the assessee, however, did not dispute the defect in maintenance of accounts. but it was submitted that the accounts have been statutorily audited under section 44ab of the income-tax act. in the previous year, depreciation had been allowed. the tribunal noticed that the assessee in the first instance filed a return showing a loss of rs. 6,18,581 but ..... and impermissible so long as the appeal was sub judice before the tribunal and, consequently, the allegations in the complaint constitute no offence under sections 276c and 277 of the income-tax act. 4. the tribunal disposed of the appeal by order dated december 15, 1993 (annexure 10). the appeal was partly allowed. the supreme court in uttam chand v. ito :  ..... tribunal and that appeal was pending before the tribunal. a complaint was filed against the petitioner for prosecution for having committed offences under sections 276c and 277 of the income-tax act. the complaint was filed in the court of special judicial magistrate (economic offences), jamshedpur. the gravamen of the accusation in the complaint petition is as follows : 'that the accused .....Tag this Judgment!
Court : Mumbai
Reported in : 61ITR493(Bom)
..... or the department in a subsequent year. but this rule is subject to limitations, for there should be finality and certainty in all litigations including litigation arising out of the income-tax act and an earlier decision on the same question cannot be reopened if that decision is not arbitrary or perverse, if it had been arrived at after due inquiry, if no ..... facts are finally found by the tribunal that the matter would be coming before this court in a reference in accordance with the procedure which has been prescribed by the income-tax act. we have at this stage to see whether the matter is abundantly clear one way or the other. 12. the expression 'mineral oil' has not been defined anywhere in the ..... rate or rates specified in the third schedule.' 'chargeable profits' has been defined by sub-section (5) of section 2 as follows : ''chargeable profits' means the total income of an assessee computed under the income-tax act, 1961 (43 of 1961), for any previous year or years, as the case may be, and adjusted in accordance with the provisions of the first schedule.' 9 ..... , the petitioner seeks to get quashed the order of 12th october, 1965, made by the first respondent provisionally assessing the petitioner-company to tax under section 141 of the indian income-tax act (act xliii of 1961), hereinafter referred to as the act, and the notice of demand of the same date issued pursuant thereto as calling upon the petitioner to pay the balance of the .....Tag this Judgment!
Court : Mumbai
Reported in : 115ITR45(Bom)
..... view ofnotification no.878(f) issued undersection 60 of the indian income-tax act,1922, read with section 297(2)(1) of theincome-tax act, 1961.3. 94,738 rebate of income-tax and super-tax ondividends received by the assesseefrom co-operative societies during therelevant inter-valuation period undersections 82 and 99(1)(iii) ..... who carries on life insurance business. in the case of new india assurance co. ltd. : 71itr761(bom) , the provisions considered was section 10(7) of the indian income-tax act, 1922. section 10(7) read as follows : 'notwithstanding anything to the contrary contained in section 8, 9, 10, 12 or 18, the profits and gains of any business ..... under section 44 read with rules in the first schedule to the income-tax act, 1961, was the assessee entitled, under notification no. 878(f) issued under section 60(1) of the indian income-tax act, 1922, read with section 297(2)(1) of the income-tax act, 1961, to a rebate of income-tax on the interest of rs. 1,44,751 received by it during ..... a) 1,72,009 interest on post office and nationaltreasury savings certificates notincludible in total income under section10(15)(ii) of the income-tax act, 1961.(b) 41,019 agricultural income not includible intotal income under section 10(1) of theincome-tax act, 1961.2. 1,44,751 rebate of income-tax on the interestreceived by the assessee during therelevant inter-valuation period on mysoregovernment securities in .....Tag this Judgment!