Court : Jharkhand
Reported in : 2005(2)BLJR1347; 2005CriLJ2318; (2005)197CTR(Jharkhand)156; 275ITR268(Jharkhand); [2005(3)JCR397(Jhr)]
..... 1992, whereby and whereunder, he refused to discharge the accused persons under section 245 of the cr. p. c. for the offence punishable under sections 276c and 277 of the income-tax act, 1961 (hereinafter referred to as 'the act').2. the petitioner of the present case in m/s. t.r.f. ltd., a company registered under the indian companies ..... act and the provision of section 276c of the said act, both fell for consideration before the supreme court in the case of k. c. builders v. assistant ..... of admissibility of excise duty.19. in the present case, the question arises as to whether in view of the judgment rendered by the income-tax appellate tribunal in favour of the company, the criminal proceeding for alleged offence, under sections 276c and 277 of the income-tax act is called for or not.20. the word 'concealment' as mentioned in section 271 of the ..... relating to warranty expenses afresh and pass fresh order in accordance with law.11. on july 7, 1994, the deputy commissioner of income-tax passed consequential order under section 250 of the act complying with the order and the decision of the income-tax appellate tribunal and relief was allowed to the assessee-company, deducting an amount of rs. 1,77,03,141.12. the .....Tag this Judgment!
Court : Jharkhand
Reported in : 2007(2)BLJR1552; (2007)210CTR(Jharkhand)602; 290ITR114(Jharkhand); [2007(3)JCR264(Jhr)]
..... .y. eqbal, j.1. the petitioner who is the assessee has prayed for quashing the impugned notice purportedly issued under subsection (1) of section 142 of the income tax act 1961 (in short the act) and for a direction upon the respondents not to continue with the assessment proceeding in respect of the assessment year in question. by amendment petition dated 8.1.2007 ..... other documents or any assets are requisitioned under section 132a after 31st may, 2003, by inserting a new section 158bi in the income-tax act.65.3 further, three new sections 153a, 153b and 153c have been inserted in the income-tax act to provide for assessment in case of search or making requisition.65.4 the new section 153a provides the procedure for completion of ..... of assessment as being illegal and wholly without jurisdiction. learned counsel drew my attention to the relevant provisions of income tax act particularly section 153a of the act and submitted that under the new scheme forming part of section 153a, 153b and 153c of the act deal with the assessment in case of search and requisition in substitution of erstwhile assessment scheme contained in chapter ..... offices and residence of the petitioner, which continued for a number of days. respondent no. 3, thereafter, issued notice to the petitioner under section 142 of the act asking him to file his income tax return for the assessment year 2004-05 and to produce the books of account, bank passbooks and vouchers etc. for the financial year ending 31st march 2004. .....Tag this Judgment!
Court : Jharkhand
Reported in : (2008)217CTR(Jharkhand)233; 298ITR109(Jharkhand); [2008(4)JCR709(Jhr)]
..... understood to mean compilation or collections of sheets in one volume. the books of account referred to are those books of account which are maintained for the purposes of the income-tax act and not diaries which arc maintained merely as a man's private record; prepared by him as may be in accordance with his pleasure or convenience to secretly record secret ..... the financial year lays down the search and seizure and also the procedure to be followed for the search and seizure contained under that section.10. section 271 of the income tax act as stood during the relevant year is worth to be quoted for the purposes of answering the reference. the section reads as under:271. failure to furnish returns, comply ..... maintained, it may have been exhibiting record of the factual facts, contemporaneously made but they were never maintained for the purposes of the income-tax act to draw the source of income or for the computation of total income to offer income calculated therefrom for the purposes of taxation. such books or diaries can hardly be designed or accepted as books of account for the purposes ..... be a book of account, and on the top of it that must be one maintained for the purposes of drawing the source of income under the income-tax act. these essential requirements must be carefully observed while implementing tax legislation in the country where secret and parallel accounts based on frauds and forgery are extremely common and responsibility of keeping and maintaining accounts for .....Tag this Judgment!
Court : Jharkhand
Reported in : (2007)213CTR(Jharkhand)557; 298ITR78(Jharkhand); [2006(4)JCR21(Jhr)]
..... performing, data processing machines cannot be classified as 'office appliance' and are eligible for allowance of development rebate under section 33(1) of the income tax act, 1961 (corresponding to section 10(2)(vib) of the indian income tax act, 1922). 11. in another case, the calcutta high court held that assessee is entitled to investment allowance in respect of generator on the ground ..... does not form a part of the manufacturing unit intimately connected with the production of manufacturing any article or thing and as such investment allowance under section 32a of the income tax act was not allowable. the court held:the assessment year involved is 1984 for which the accounting year ended on march 31, 1984, about the use of the computer ..... stock of raw materials and the finished goods, the assessee is not entitled to investment allowance under section 33a or additional depreciation under section 32(1)(2)(a) of the income tax act. in the aforesaid circumstances, at the instance of the assessee, the instant reference has been made for answering the questions quoted hereinabove.3. before appreciating the submissions made by ..... years 1984-85. the assessee claimed depreciation at the rate of 2% as per the provisions of section 32 as well as investment allowances under section 32a of the income tax act. the assessee claimed depreciation and investment allowances on the ground that the computer system is a plant installed in its factory premises. the claim of the assessee was disallowed .....Tag this Judgment!
Court : Jharkhand
Reported in : (2004)190CTR(Jharkhand)116; 270ITR214(Jharkhand); [2004(2)JCR116(Jhr)]
..... of the assessing officer imposing penalty.5. the assessee sought a reference of five questions in his application under section 256(1) of the income tax act, filed before the income tax appellate tribunal, which decided that the question that really arose for decision was the one that has been quoted above by us in the ..... case. therein, the full bench of the patna high court considered the effect of the amendment brought about to section 271(1) of the income tax act and the addition of the explanation and noticed that the burden had shifted to the assessee from the department to offer a reasonable explanation for ..... assessment became final, the assessee not having appealed against it.3. the assessing officer initiated penalty proceedings under section 271(1)(c) of the income tax act for concealment of the above two sums totalling rs. 3.43.239/-. the assessee resisted the penalty proceedings by submitting that he had included the ..... a revised return was accepted by the department, no penalty could be imposed under section 271(1)(c) of the income tax act.8. we find that the legal position is really covered by the decision of the supreme court in k.p. madhusudhanan v. commissioner of ..... , penalty was liable to be imposed. the kerala high court as follows :'section 271(1)(c) of the income tax act, 1961, is attracted where in the course of any proceedings under the act, the assessing officer or the first appellate authority is satisfied that (a) any person has concealed the particulars of .....Tag this Judgment!
Court : Jharkhand
Reported in : 2008(56)BLJR2716; (2008)218CTR(Jharkhand)666; 308ITR109(Jharkhand); [2008(4)JCR364(Jhr)]
..... and law.13. accordingly, this application is allowed and the order dated 07.08.2004 taking cognizance of the offence under section 277 of the income tax act, 1961 in c.o. case no. 24/04 against the petitioner by the special judge (economic offences), dhanbad as well as the entire ..... is an essential ingredient for launching prosecution against a person for commission of the offence under section 277 of the income tax act. if it is shown that there was no mensrea on the part of the accused/assessee then he or she cannot be prosecuted for ..... complaint petition, the special judge, economic offences, dhanbad, by order dated 07.08.2004, took cognizance of the offence under sections 277 of the income tax act against the petitioner which is under challenge in this application.5. mr. binod poddar, learned senior counsel appearing for the petitioner submitted that 'mensrea' ..... l.i.c. thereafter, the assessee/accused smt. namita roy was noticed to show cause as to why prosecution under section 277 of the income tax act be not launched against her. in reply to the said notice, the assessee/petitioner stated that on the abatement of one amal kumar chatterjee, she ..... in this application, the petitioner has prayed for quashing of the order dated 07.08.2004 taking cognizance of the offence under section 277 of the income tax act, 1961 which has been taken against the petitioner by the special judge (economic offences), dhanbad.3. the facts in short are that c.o .....Tag this Judgment!
Court : Jharkhand
Reported in : 2008(56)BLJR679; (2008)218CTR(Jharkhand)506; [2008(3)JCR667(Jhr)]
..... was right in holding that the following receipts of the assessee -company were profits and gains attributable to its priority industry and qualified for relief under section 80i of the income tax act, 1961, for the assessment years, 1971-72 and 1972-73 ?9. answering the question in favour of the assessee after following the decision of the supreme court in the case ..... bank and on deposit with idbi is part of the profit and gains derived from an industrial undertaking to which section 80i of the income tax act, 1961 applies and thereby qualifying for deduction under section 80i of the income tax act, 1961?2. the facts of the case lie in a narrow compass :the assessee is an industrial undertaking engaged in conversion of coal tar ..... by way of shares in the assessee-company is includible in the capital for the purpose of computation of relief under section 80j of the income-tax act, 1961, under rule 19a(2), clauses (ii) and (iii) of the income-tax rules, 1962, for 1970-71 and 1971-72 assessment years.(2) whether, on the facts and in the circumstances of the case, the tribunal ..... bank fdr's) for the assessment year 1990-91 should not have been considered for the purpose of allowance of deduction under section 80i of the income tax act, 1961 as according to him the said interest income did not form part of the profit and gains derived from the industrial undertaking. he accordingly directed the assessing officer to re-compute the deduction granted .....Tag this Judgment!
Court : Jharkhand
Reported in : 2007(1)BLJR673; 300ITR90(Jharkhand)
..... by this common order.2. the main question of law which has been referred by the income tax appellate tribunal, patna bench, patna in the instant reference under section 256(1) of the income tax act (in short the act) is 'whether in the facts and circumstances of the case the income tax appellate tribunal, patna was justified in holding that incentive bonus earned by the assessee, a ..... development officer of life insurance corporation of india (in short lic) is salary as defined under section 17 of the act keeping in view the terms, conditions ..... bonus as part of salary and, accordingly, disallowed the claim of expenditure.4. being aggrieved by the reassessment under section 143(3) and 147 of the act the assessee went in appeal before the commissioner, of income tax (appeals) and by order dated 19.7.95 passed in i.t. appeal no. 694/ran/oth/ 1994-05, the commissioner set aside the order ..... or recompense must fall within the expression 'salary' as defined in rule 2(h) of part a of the fourth schedule to the act.8. the full bench of karnataka high court in the case of commissioner of income tax. v. m.d. patil 1998 (229) i.t.r. 7 after discussing the law in detail have held that incentive bonus given to .....Tag this Judgment!
Court : Jharkhand
Reported in : 2007(2)BLJR1097
..... involved, they have been heard together and are disposed of by this common order. 2. these appeals have been filed under section 260a of the income tax act 1961 challenging the order passed by the income tax appellate tribunal, patna bench, patna whereby the tribunal dismissed the appeal filed by the revenue and further allowed cross objection filed by the respondent-assessee.3 ..... counsel further submitted that the tribunal ought not to have expunged paragraph 8 of the appellate order passed by cit (appeal) which is contrary to the provision of section 251(1)(a) of the income tax act.6. mr. binod poddar, learned senior counsel raised preliminary objection that the instant appeal is not maintainable, inasmuch as no substantial question of law ..... is involved. learned counsel submitted that appellant has not complied the requirement of section 260a of the act and preferred this appeal without formulating substantial question ..... show cause notice to the respondent as to why reassessment proceeding should not be initiated under section 147 of the act for escape assessment. notices were issued under section 148 of the act with the approval of the commissioner of income tax, ranchi. notices under section 142(1) was also issued to the respondent for production of books of account and .....Tag this Judgment!
Court : Jharkhand
Reported in : [2006(3)JCR63(Jhr)]
..... income tax appellate tribunal, patna bench, patna; circuit bench at ranchi in i.t.a.no. 315(pat)/91, relating to the assessment year 1986-87.though ..... revenue building, ranchi, against the assessee m/s metallurgical engineering consultants (india) ltd., ranchi, under section 260a of the income-tax act, 1961 against the order dated 27th may, 2002, passed by the income tax appellate tribunal, patna bench, patna; circuit bench at ranchi in i.t.a.no. 314(pat)/91, relating to the assessment year 1985-86.it appears that a ..... the appeal listed under the heading 'for admission'.2. the other tax appeal no. 12 of 2003 has been preferred by the revenue-commissioner of income-tax, central revenue building, ranchi, against the same assessee i.e. m/s metallurgical engineering consultants (india) ltd., ranchi under section 260a of the income-tax act, 1961 against the order dated 27th may, 2002, passed by the ..... having noticed the aforesaid observations of the supreme court, rendered in the case of mahanagar telephone nigam ltd. (supra), we are of the view that the revenue-commissioner of income-tax, ranchi (appellant in both the appeals) should first move before the high power committee to get the dispute resolved between the two organizations; one central government and the other .....Tag this Judgment!