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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Year: 1976 Page 1 of about 39 results (0.101 seconds)

Dec 09 1976 (HC)

Commissioner of Income-tax Vs. Rita Mechanical Works

Court : Punjab and Haryana

Decided on : Dec-09-1976

Reported in : [1977]108ITR552(P& H)

1. the question referred to the high court under section 256(1) of the income-tax act, 1961, was as follows : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in holding that the requirement of section 34(3)(a) regarding creating of development rebate reserve has been satisfied ?' chinnappa reddy, j. 2. the high court of andhra pradesh in veerabhadra iron foundry v. commissioner of income-tax : [1968]69itr425(ap) , the high court of allahabad in cit v. modi spg. and wvg. mills co. ltd. : [1973]89itr304(all) , the high court of bombay in tata iron & steel co. ltd. v. n. c. upadhyaya : [1974]96itr1(bom) , the high court of punjab and haryana in commissioner of income-tax v. sardar singh sachdeva and the high court of orissa in commissioner of income-tax v. narula cold storage & ice factory : [1976]104itr148(orissa) have consistently taken the view that the income-tax act does not contemplate a limit of time for claiming development rebate. the gujarat high court has taken a contrary view in keshavlal vithaldas v. commissioner of income-tax : [1976]105itr601(guj) . we are bound to follow the view of the punjab and haryana high court, which, as we have pointed out, is the view of the majority of the high courts. in view of the earlier decision of this court, the question referred to us is answered in the affirmative. no costs.

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Dec 09 1976 (HC)

Arjan Dass Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Dec-09-1976

Reported in : [1978]112ITR480(P& H)

..... 1939 the only manner in which the best judgment assessment under section 23(4) could be questioned was by filing an application under section 21, after the amendments of the income-tax act in 1939, a best judgment assessment could also be questioned by preferring an appeal against it under section 30. they further observed that the rejection of the appeal against the ..... been allowed. this question has, therefore, to be answered in the negative. 7. question no. 1 concerns the jurisdiction of the appellate assistant commissioner under section 250(4) of the income-tax act. section 250(4) enables the appellate assistant commissioner, before disposing of any appeal, ' to make such further enquiry as he thinks fit '. the contention of the assessee is that the ..... the facts and in the circumstances of the case, the tribunal was right in holding that the appellate assistant commissioner had overstepped his jurisdiction under section 250(4) of the income-tax act and that, therefore, the appellate assistant commissioner's order was bad in law 2. whether, on the facts and in the circumstances of the case, the tribunal was right, ..... may assume that it yielded no fruit to the revenue. on march 29, 1965, after obtaining the prior approval of the central board of direct taxes, the income-tax officer, rohtak, served a notice under section 148 of the income-tax act, 1961, on arjan dass, representing late dr. munshi ram, in respect of the assessment relating to the assessment year 1948-49. the return of .....

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Dec 09 1976 (HC)

Commissioner of Income-tax Vs. R.K. Metal Works

Court : Punjab and Haryana

Decided on : Dec-09-1976

Reported in : [1978]112ITR445(P& H)

..... and in the circumstances of the case, the tribunal was right in setting aside the order passed by the commissioner of income-tax under section 263 of the income-tax act, 1961.'2. a perusal of the order of the commissioner of income-tax clearly shows that the criticism of the tribunal is well-founded. there is no indication in the order of the commissioner as ..... what the basis was for such a conclusion. after indicating his reasons for such a conclusion, it would certainly have been open to him to remand the matter to the income-tax officer for such other investigation or enquiry as might be necessary. but that was not the course which the commissioner pursued. the tribunal was, therefore, justified in setting aside ..... and prejudicial to the interests of the revenues. the tribunal also observed that the commissioner had not given any reasons to justify his satisfaction that the order passed by the income-tax officer was prejudicial to the interests of the revenue. at the instance of the revenue, the following question has been referred to us for our opinion :'whether, on the facts ..... not utilised for the purposes of the firm's business and advanced indirectly to two partners, sarvashri jugal kishore and roshan lal, as investment in the properties'. the commissioner of income-tax issued a notice to the two partners. a detailed written statement raising objections was filed before the commissioner. without dealing with the objections raised before him, the commissioner held that .....

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Dec 15 1976 (HC)

Commissioner of Income-tax Vs. Yash Pal Mehra and Co.

Court : Punjab and Haryana

Decided on : Dec-15-1976

Reported in : [1977]109ITR742(P& H)

..... the earlier decisions of the court, the learned judges laid down the following tests to determine the applicability of section 34(l)(b) of the indian income-tax act, 1922 (which corresponded to section 147(b) of the income-tax act, 1961) :'(1) where the information is as to the true and correct state of the law derived from relevant judicial decisions ; (2) where in the ..... , the following question has been referred to us for our opinion :'whether, on the facts and in the circumstances of the case, the proceedings under section 147(b) of the income-tax act, 1961, are legal and valid ?'3. in anandji hari das & co. (p.) ltd. v. s. p. kushare : [1968]1scr661 , the supreme court held that the term 'information' meant knowledge, that ..... wrongly been allowed in excess of rs. 5,000 contrary to the provisions of section 37(2) of the income-tax act, 1961. on the basis of the audit party's note, the income-tax officer reopened the assessments under section 147(b) of the income-tax act and reassessed the assessee by including an additional sum of rs. 7,868 for the assessment year 1968-69 and ..... . a. roman & co. : [1968]67itr11(sc) , shah j. observed :'the expression 'information' in the context in which it occurs (in section 147(b) of the income-tax act, 1961) must, in our judgment, mean instruction or knowledge derived from an external source concerning facts or particulars or as to law relating to a matter bearing on the assessment.' .....

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Nov 16 1976 (HC)

Cineramas Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Nov-16-1976

Reported in : [1977]110ITR762(P& H)

..... at 2 per cent. the assessee accepted the terms and paid damages of rs. 17,240 which he claimed as permissible deduction under section 10(2)(xv) of the indian income-tax act, 1922. the allahabad high court took the view that the amount paid by the assessee by way of liquidated damages was for the purpose of keeping the contract alive and ..... that the sum of rs. 4,300 paid by the assessee by way of penalty to the east punjab motion pictures association was not deductible as business expenditure under the income-tax act,1961 the learned counsel for the assessee invited our attention to paragraph 16(a) of the rules and regulations of the east punjab motion pictures association which prohibits every distributor ..... penalty to the association was a sum ' laid out wholly and exclusively for the purposes of the assessee's business ' and was, therefore, allowable expenditure under section 37 of the income-tax act, 1961. the tribunal held that breaches of contractual obligations were not incidents of business and, therefore, the amount paid by the assessee as penalty was not allowable expenditure. 2. at ..... the tehri garhwal state for committing breach of some of the terms of the agreement. they claimed the sum as allowable expenditure under section 10(2)(xv) of the indian income-tax act, 1922. falshaw and kapur jj. held that the assessee was not entitled to claim the deduction. the decision of the madras high court in mask & co. v. commissioner of .....

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Nov 01 1976 (HC)

Hazi Amir Mohd. Mir Ahmed Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Nov-01-1976

Reported in : [1977]110ITR630(P& H)

..... as follows : '147. income escaping assessment.--if-- (a) the income-tax officer has reason to believe that, by reason of the ommission or failure on the ..... , the tribunal has referred to us the following question for our opinion : 'whether, on the facts and in the circumstances, the income-tax appellate tribunal, chandigarh, has rightly upheld the reopening of the assessment under section 147(a) of the income-tax act, 1961 '2. shri bhagirath dass, learned counsel for the assessee, argued that the assessee had disclosed all the primary facts at the ..... decisions of the supreme court in chhugamal rajpal v. s.p. chaliha : [1971]79itr603(sc) and income-tax officer v. lakhmani mewal das : [1976]103itr437(sc) and of a learned single judge of this court in hiralal dewan chand v. income-tax officer . 3. section 147 of the income-tax act, 1961, in so far as it is relevant for the purposes of irie present case, is ..... assessee made confessional statements to the effect that they were lending names and not money. thereupon, the income-tax officer issued a notice to the assessee under section 148 of the income-tax act, 1961, reopened the assessment and added a sum of rs. 1,60,000 to the income of the assessee. the appeals filed by the assessee to the appellate assistant commissioner and the .....

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Nov 18 1976 (HC)

R.A. Boga Vs. Appellate Assistant Commissioner of Income-tax, Amritsar ...

Court : Punjab and Haryana

Decided on : Nov-18-1976

Reported in : AIR1977P& H235; [1977]110ITR1(P& H)

..... aside.24. dealing with section 141 of the income-tax act, 1961, which is similar to section 23-b of the indian income-tax act, 1922, the supreme court in jaipur udyog ltd. v. commr. of income-tax : [1969]71itr799(sc) said:--'section 141 of the income-tax act, 1961, authorises the income-tax officer to make a provisional assessment of the income of the assessee on the basis of the ..... gupta, learned counsel for the assessee was that there was no direction in the order of the appellate assistant commissioner to complete the assessment under the provisions of the income-tax act, 1922, but that there was only a direction to dispose of the matter in accordance with law. according to the learned counsel, the effect of the order of ..... of the case, the rectification order could be passed only under section 35 of the income-tax act, 1922, and not under section 154(1)(a) of the income-tax act, 1961?'the learned judges, after referring to hazari mal kuthalia v. commr. of income-tax : [1961]41itr12(sc) and commr. of income-tax v. hargopal bhalla & sons, accepted the argument advanced on behalf of the revenue ..... is contended before me that as the return of income was filed on 20-12-1960 before the commencement of the income-tax act, 1961, the assessment should have been completed under the provisions of the indian income-tax act, 1922 and the income-tax officer has erred in completing the assessment under the provisions of the income-tax act, 1961. i have considered the assessee's submissions very .....

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Nov 03 1976 (HC)

Commissioner of Income-tax Vs. Mangat Ram Kuthiala

Court : Punjab and Haryana

Decided on : Nov-03-1976

Reported in : [1978]111ITR823(P& H)

..... the facts and in the circumstances of the case, the tribunal was right in law in deleting the penalty imposed under section 271(1)(a) of the income-tax act, 1961 ?'2. we are relieved of much of the difficulty in answering the question as a result of the amendment of section 271(1)(a)(i) in which the expression ..... of the commissioner of income-tax, the following question has been referred to us for our decision :'whether, on ..... now used is 'assessed tax' and not 'tax payable'. this amendment has been made retrospective and the amending act further provides that it shall be deemed to have always been substituted. in view of this amendment, it is clear that the only answer ..... , in the meanwhile, had paid the tax of rs. 91,924. he, therefore, became entitled to a refund of rs. 58,341. in the penaly proceedings, it was argued that as no tax was payable by him, no penalty could be levied. this argument was accepted by the income-tax appellate tribunal and the penalty levied by the income-tax officer was deleted. at the instance .....

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Nov 04 1976 (HC)

Commissioner of Income-tax Vs. Grewal Group of Industries

Court : Punjab and Haryana

Decided on : Nov-04-1976

Reported in : [1977]110ITR278(P& H)

..... :' whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the word 'expenditure' used in section 40a(3) of the income-tax act does not cover expenditure on purchase of raw material ?'2. the assessee manufactures shapers and castings of machines. raw material was purchased from m/s. ludhiana crucible & cupola association on ..... which may not be allowed. sections 40 and 40a deal particularly with deductions which may not be allowed. section 40a was introduced into the income-tax act with effect from april 1, 1968, by way of amendment, by the finance act of 1968. section 40a(1) is significant and it enacts that the provisions of this section shall have effect notwithstanding anything to the ..... contrary contained in any other provision of the act relating to the computation of income under the head 'profits and gains of business or profession'. section 40a(2) empowers the income-tax officer to disallow as a deduction expenditure in respect of which payment is made to any person specified in clause ..... meaning of the word 'expenditure' cannot be confined in the manner suggested by the assessee. we have referred to the canon of construction only because the delhi bench of the income-tax appellate tribunal whose view was adopted by the chandigarh bench of the appellate tribunal in the present case appeared to rely upon the so-called rule of strict construction of .....

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Oct 27 1976 (HC)

Commissioner of Income-tax Vs. R.B.L. Banarsi Dass and Co. (P.) Ltd.

Court : Punjab and Haryana

Decided on : Oct-27-1976

Reported in : [1977]108ITR554(P& H)

..... : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in deleting the penalty of rs. 10,000 levied under section 140a(3) of the income-tax act, 1961 ?' 2. shri awasthy, learned counsel for the department, argues that the levy of penalty is automatic on the commission of a default by the assessee under section 140a. there ..... on the words 'shall be liable to pay'. but what the assessee isunder an obligation to pay as penalty is such amount as the income-taxofficer may direct. that necessarily implies that it is open to the income-tax officer to levy a penalty or not at all. 3. we, therefore, answer the question referred to us against the revenue.we are not ..... assessment was made on provisional basis, within the prescribed period. later on, the assessee appears to have paid substantial part of the tax levied. thereafter, the income-tax officer levied a penalty of rs. 17,000 under section 140a(3). this was reduced to rs. 10,000 by the appellate assistant commissioner on the ground that the assessee ..... was in financial difficulties. the income-tax appellate tribunal deleted the penalty altogether on the ground that the assessee had ultimately paid the entire tax and the government suffered no loss. at the instance of the revenue, the following question has been referred to us for .....

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