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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Year: 1972 Page 1 of about 39 results (0.038 seconds)

Aug 02 1972 (HC)

Commissioner of Income-tax Vs. Saraswati Industrial Syndicate Ltd.

Court : Punjab and Haryana

Decided on : Aug-02-1972

Reported in : [1973]91ITR501(P& H)

..... word 'collection' as contained in the provisions of section 11 of the mysore sales tax act and that was not a case under the income-tax act. the scheme of the income-tax act clearly provides that whatever amounts are recovered as a trading receipt are subject to income-tax. the question whether the sales tax charged is an integral part of the trading receipt or not, was not considered by ..... be a trading receipt for the relevant assessment year in view of the provisions of section 28(i) of the income-tax act, 1961, which are in the following terms:' 28. the following income shall be chargeable to income-tax under the head 'profits and gains of business or profession',-- (i) the profits and gains of any business or profession which was carried on by the ..... which the appellant received arid the amounts for which he could under the terms of the lease claim reimbursement had, therefore, to be regarded as income within the meaning of the indian income-tax act, 1922, and, unless specially exempt, were liable to tax. it was held that the fact that the lessee might claim refund did not deprive the payments of their character of ..... must, therefore, be included in the trading receipt of the dealer and it becomes income for the purpose of the income-tax act, for the simple reason that the money realised from the purchaser on account of tax is employed by the dealer for the purpose of making profit and the tax is not separated from price simpliciter.'21. from the above discussion it is evident .....

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Nov 22 1972 (HC)

Commissioner of Income-tax and ors. Vs. Ramesh Chander and ors.

Court : Punjab and Haryana

Decided on : Nov-22-1972

Reported in : [1974]93ITR450(P& H)

..... the documents already recovered from ramesh chander by balwant singh without there being any basis for the belief that he had evaded the payment of tax under the indian income-tax act, 1922, or the income-tax act, 1961, or any other allied act.'11. the learned judge came to the conclusion that the cash amount of rs. 1,61,000 had already been recovered from ramesh chander ..... commissioner in his note clearly recorded the finding that he had reason to believe that the said amount has not been disclosed for the purposes of the indian income-tax act, 1922, or the income-tax act, 1961. the omission in the note to state the grounds on which he came to entertain this belief, would not vitiate the issuance of search and seizure warrants ..... bound by law to deal with the said articles so recovered in accordance with the mandate of the respective statutes and to hold, while interpreting section 132 of the income-tax act, that the income-tax authorities could search and seize the articles from the possession of the other statutory authorities would be unreasonable because that will be bringing into conflict the two sets of ..... cannot be traced except otherwise if it is actually taken into possession, in that case, the provisions of section 69a of the income-tax act cannot be brought into operation. therefore, section 132 of the income-tax act was enacted giving power to the income-tax authorities to search and seize and get hold of the hidden wealth in the manner prescribed and on the basis of such .....

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Mar 06 1972 (HC)

Amar Singh Lamba Vs. Sewa Singh and anr.

Court : Punjab and Haryana

Decided on : Mar-06-1972

Reported in : [1973]90ITR1(P& H)

..... section 137 of the income-tax act, 1961, is no longer on the statute book, having been omitted, and the only provision relating to disclosure of information contained in assessment records is that found in section ..... both these provisions have been repealed. according to the division bench decision of this court in o.p. aggarwal's case, the protection afforded by section 54 of the indian income-tax act, 1922, is still available in respect of assessments completed before the 1st day of april, 1962.6. a contention has, however, been raised that notwithstanding the fact that ..... protection given by section 54 of the previous income-tax act was enlarged, and it was expressly stated that no public servant was to disclose even voluntarily any particulars contained in documents declared by the section to be confidential. these confidential ..... on or after the 1st day of april, 1960, if he is satisfied that there are no circumstances justifying its refusal. soon after the law was amended, and the new income-tax act, 43 of 1961, came into force on 1st april, 1962. section 137 thereof pertains to privilege attaching to the various papers concerning assessment proceedings. in some respects, the .....

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Oct 19 1972 (HC)

Commissioner of Income-tax Vs. Hindustan Milk Food Manufacturers Ltd.

Court : Punjab and Haryana

Decided on : Oct-19-1972

Reported in : [1974]96ITR278(P& H)

..... urge the same is untenable. in the second place, this matter was not agitated when the department made an application under section 66(1) of the indian income-tax act, 1922, to the tribunal. in the original statement of the case, at page 4 of the paper book, it is observed : 'he (the appellate ..... indicated above. 16. mr. awasthy, learned counsel for the department, urged that the second test laid down in section 10(2)(vib) of the indian income-tax act, 1922, namely, that the assessee had not created an adequate reserve required under the provision of section 10(2)(vib), proviso, is not satisfied in this ..... observations oftheir lordships of the supreme court in cochin company's case. they are in the following terms : 'the word 'new' is not defined in the income-tax act. according to the shorter oxford dictionary, the word 'new' means 'not existing before ; now made, or brought into existence, for the first time'. in ..... the circumstances of the case, the machinery worth rs. 2,68,515 was new machinery within the meaning of section 10(2)(vib) of the indian income-tax act, 1922 '8. when the reference came before us on may 3, 197-1, we answered the first question of law in favour of the assessee ..... be machineries for the purposes of development rebate also.'6. the tribunal on 17th december, 1965, passed a rectification order under section 254(2) of the income-tax act, 1961, in the matter of the statement of the case. this order is in the following terms : ' in the appeal before the tribunal the .....

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Apr 25 1972 (HC)

Commissioner of Income-tax Vs. Bhan Singh Boota Singh

Court : Punjab and Haryana

Decided on : Apr-25-1972

Reported in : [1974]95ITR562(P& H)

..... have taken of the matter finds ample support from certain decided cases. those cases are under the indian income-tax act, 1922, and, therefore, it would be necessary to set out section 28 of that act, namely, the indian income-tax act of 1922 :'28. (1) if the income-tax officer, the appellate assistant commissioner or the appellate tribunal, in the course of any proceedings under this ..... commissioner imposed a penalty of rs. 10,500 under the explanation to section 271(1)(c) of the income-tax act, 1961. an appeal was preferred against this imposition before the tribunal. the tribunal, following the observations of the delhi bench, in income-tax appeal no. 6343 of 1965-66, deleted the imposition of penalty. the observations of the delhi bench on ..... act, is satisfied that any person--... (c) has concealed the particulars of his income or deliberately furnished inaccurate particulars of such income, he or it may direct that ..... . arunachalam chettiar, a.i.r. 1932 mad. 433, 434 [sb.] while dealing with clause (c), which before the amendment by the finance act of 1964 stood in the same terms, it was observed :' ......the income-tax authorities are entitled to look at the previous incorrect return and are under section 28 entitled to inflict a penalty upon the person who has .....

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May 25 1972 (HC)

Ramesh Chander and ors. Vs. Commissioner of Income-tax and ors.

Court : Punjab and Haryana

Decided on : May-25-1972

Reported in : [1974]93ITR244(P& H)

..... in section 230a. thereafter, the income-tax officer proceeds to make regular assessments and by section ..... already recovered from ramesh chander by balwant singh without there being any basis for the belief that he had evaded the payment of tax under the indian income-tax act, 1922, or the income-tax act, 1961, or any other allied act.19. the petitioners have not challenged the search and seizure made at the residence of the partners of the petitioner-firms, but ..... meet the tax liability of an assessee which the income-tax officer is entitled to determine summarily and to add to it the other outstanding tax liability of the assessee not only under the two income-tax acts of 1961 and 1922, but also under the allied acts like the excess profits tax act, the business profits tax act, the wealth-tax act, the expenditure-tax act and the gift-tax act as mentioned ..... a person has omitted or failed to produce or cause to be produced account books or documents in spite of a summons or notice issued under the indian income-tax act, 1922, or the income-tax act, 1961, or a person who would not, in spite of such summons or notice, produce or cause to be produced the account books or documents .....

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Jan 19 1972 (HC)

Jodha Mal Kuthiala (R.B.) and Sons Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Jan-19-1972

Reported in : [1974]93ITR318(P& H)

..... firm. will the legal position be different when a registered firm is assessed on the footing that it is an unregistered firm for imposing penalty? section. 271(2) of the income-tax act, 1961, creates a statutory fiction by directing a registered firm to be treated as an unregistered firm for the computation of penalty. it has been well said that the rules ..... (1)(a) was absolute or it could be reduced ?(4) whether the penalty for the default prior to april 1, 1962, could be levied at the rates prescribed by the income-tax act, 1961 ?' 9. before i proceed to deal with these questions, i may mention that the attorney for the assessee, shri h. l. chadda, did not press the fourth question. in ..... noticed.2. the assessee, messrs. r.b. jodhamal & sons, simla, admittedly was assessed as a registered partnership. it was registered under section 26a of the indian income-tax act, 1922 (hereinafter referred to as 'the 1922 act'). this was a case where the assessee filed a delayed return. the assessment year in question is 1960-61, the accounting period ended on 31st may, 1959 ..... referred to as 'the 1962 order'), which are in the following terms:'297. (2) notwithstanding the repeal of the indian income-tax act, 1922 (hereinafter referred to as the repealed act),-- (a) where a return of income has been filed before the commencement of this act by any person for any assessment year, proceedings for the assessment of that person for that year may be taken .....

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Apr 19 1972 (HC)

Commissioner of Income-tax Vs. Satnam Transport Co. (P.) Ltd.

Court : Punjab and Haryana

Decided on : Apr-19-1972

Reported in : [1973]92ITR42(P& H)

..... find place in the patiala act. the commissioner, when he transferred this case, referred not to the patiala income-tax act, but to the indian income-tax act, and it is contended that if the patiala income-tax act was in force for purposes of reassessment, action should have been taken under that act and not the indian income-tax act. this argument, however, ..... in respectful agreement with the view enunciated in hargopal's case and other cases referred to above and hold that if the authorities tinder the income-tax act have the power to pass an order, it will not be bad merely because a wrong provision of law has been referred to by the ..... that sub-section. the only substantial difference in the latter sub-section was that the explanation which was added to section 5(7a) of the indian income-tax act as a result of the decision of this court in bidi supply co. v. union of india, [1956] 29 i.t.r. 717; [1956 ..... ship, machinery or plant installed after the 31st december, 1957, in any assessment year under section 33 or under the corresponding provisions of the indian income-tax act, 1922, and subsequently- (i) at any time before the expiry of eight years from the end of the previous year in which the ship ..... buses. in the assessment year 1959-60, the assessment of the company was completed under section 23(3) of the indian income-tax act, 1922 (hereinafter referred to as 'the 1922 act'). an amount of rs. 9,187 was allowed as development rebate to the assessee under clause (vi) of sub-section ( .....

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Jan 14 1972 (HC)

State Bank of Patiala Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Decided on : Jan-14-1972

Reported in : [1973]91ITR630(P& H)

..... that the amount is liable to be recovered from the mortgaged properties. i, therefore, repel this objection.9. it is nowhere stated in the second schedule to the income-tax act,1961, that the evidence act applies to the proceedings before the taxrecovery officer under rule 11. the objection with regard to the admissibility of the documents filed by the petitioner-bank was taken ..... officer in which it has been pleaded that the writ petition is not competent as under rule 11(6) of the rules contained in the second schedule to the income-tax act, 1961, the proper remedy of the petitioner-bank is to file a suit in the civil court to establish the right which it claims to the property in dispute. on ..... . 1,20,440.60 plus rs. 3.00 payable by you in respect of certificate no. nil, dated 13-3-68 forwarded by the income-tax officer, jullundur, and the interest payable under section 220(2) of the income-tax act, 1961, for the period commencing immediately after the said date:it is ordered that you, the said khosla engineering co., kapurthala, be and you ..... of the loss occasioned by a fire, which occurred in the factory of the said respondents.2. against respondent no. 5 an assessment under the income-tax act was made which remained unsatisfied. on april 30, 1970, the tax recovery officer, amritsar, issued an order of attachment of immovable property of respondents nos. 5 to 10 under rule 48 of the second schedule to .....

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Feb 21 1972 (HC)

Commissioner of Income-tax Vs. Roshan Lal Kuthiala

Court : Punjab and Haryana

Decided on : Feb-21-1972

Reported in : [1973]87ITR714(P& H)

..... 271(1)(a) of the income-tax act, 1961, that creates the charge of the penalty has a retrospective operation in the absence of a clear statement or clear implication ' 3. the reference came up for hearing before ..... the facts and in the circumstances of the case, the tribunal was justified in law in reducing the penalty from 40% to 25% under section 271(1)(a) of the income-tax act, 1961 ?'2. the tribunal, however, changed the form of the question and has referred the following question of law to this court for opinion :' whether the substantive portion of section ..... at rs. 81,346. as the assessee could not prove that the delay in filing the return of income was for a sufficient cause, the income-tax officer took proceedings for imposition of penalty under the provisions of the income-tax act, 1961 (hereinafter referred to as 'the 1961 act'). the penalty was calculated in accordance with the provisions of clause (i) of section 271(1)(a ..... -section (2) of that section is involved :'297. (1) the indian income-tax act, 1922 (xi of 1922), is hereby repealed. (2) notwithstanding the repeal of the indian income-tax act, 1922 (xi of 1922) (hereinafter referred to as the repealed act),-- (a) where a return of income has been filed before the commencement of this act by any person for any assessment year, proceedings for the assessment of .....

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