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Judgment Search Results Home > Cases Phrase: income tax act Court: punjab and haryana Year: 2003 Page 1 of about 78 results (0.048 seconds)

Apr 01 2003 (HC)

income-tax Officer Vs. Janta Trading Co. and anr.

Court : Punjab and Haryana

Decided on : Apr-01-2003

Reported in : (2003)184CTR(P& H)174; [2003]263ITR24(P& H)

..... criminal revision filed against the order dated march 13, 1989, passed by the judicial magistrate first class, rohtak, vide which the respondents were summoned under section 276c/277 of the income-tax act, 1961, read with section 465/467/471 of the indian penal code, was accepted and the impugned order was set aside and further the respondents were discharged.2. briefly stated ..... partners and they were carrying on the business of sale and purchase of cement. it was further alleged that on december 14, 1982, a survey under section 133a of the income-tax act was carried out at the business premises of the respondents. it was found that the respondents had maintained two godowns and had further maintained the stock register, cash book and ..... on march 13, 1989.9. after hearing learned counsel for the parties, the learned magistrate charged janta trading co. and vinod kumar jain under sections 276c and 277 of the income-tax act and under section 465/467/471 of the indian penal code, vide order dated march 13, 1989, to which they pleaded not guilty and claimed trial. however, the remaining accused ..... for the petitioner, mr. harsh kinra, learned counsel for the respondents, and carefully gone through the file.13. it is an admitted fact that the income-tax department had made a survey under section 133a of the income-tax act by carrying out a raid in the premises of the respondents on december 14, 1982. it is alleged that the respondents had kept two godowns .....

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Jan 06 2003 (HC)

Commissioner of Income-tax Vs. Nawanshahar Central Co-operative Bank L ...

Court : Punjab and Haryana

Decided on : Jan-06-2003

Reported in : (2004)186CTR(P& H)459; [2003]263ITR320(P& H)

..... . 3. the only dispute in the present appeals is as to whether the assessee is, entitled to deduction under section 80p(2)(a)(i) of the income-tax act, 1961 (for short 'the act'), in respect of the income from the investment of rupees two crores in the purchase of 13.5 per cent. pseb bonds, 2003 first series (for short the 'bonds') on september ..... nos. 154 and 155 of 2002 involving common questions of law and facts. for the sake of convenience, the facts are being taken from income-tax appeal no.155 of 2002 pertaining to the assessment year 1994-95. 2. the assessee is a co-operative bank engaged in the banking business. it is registered with the ..... of the assessee for deduction under section 80p(2)(a)(i) in respect of the interest income pertaining to the aforesaid bonds. 6. the assessee filed an appeal before the commissioner of income-tax (appeals), who upheld the disallowance. 7. on further appeal by the assessee, the income-tax appellate tribunal (for short 'the tribunal') reversed the findings of the authorities below and allowed the ..... 20, 1993. 4. as per the provisions of section 80p(2)(a)(i) of the act, a co-operative society engaged in the business of banking or providing credit facilities to its members is entitled to deduction out of its taxable income of the whole of the amount of profits and gains of business attributable to the aforesaid activities. 5 .....

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Aug 19 2003 (HC)

Commissioner of Income-tax Vs. B. Rai

Court : Punjab and Haryana

Decided on : Aug-19-2003

Reported in : (2004)186CTR(P& H)244; [2003]264ITR617(P& H)

..... v.k. bali, j.1. the following question of law has been referred to us for adjudication by the income-tax appellate tribunal, amritsar bench, under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that interest amounting to rs. 1,17,975 received on arrears ..... to rs. 1,17,975, which was claimed by the assessee as interest not in the nature of income.3. the deputy commissioner of income-tax, range-i, jalandhar, on a reference made by the assessee under section 144a of the income-tax act, 1961 (in short 'the act'), did not accept the assessee's contention and observed that the interest allowed to the assessee by virtue ..... , and we may mention here that interest as such was paid to the assessee in ramanathan chettiar's case : [1967]63itr458(sc) the same has to be calculated as income for the purpose of the income-tax. where, however, interest to be paid, is in the discretion of the court, as is in the present case, the said payment would not amount to ..... ]63itr458(sc) . it was thus held that the interest paid on arrears of salary was a taxable receipt.4. the order of the commissioner of income-tax (appeals) on a further appeal by the assessee has since been reversed by the tribunal vide order dated october 9, 1995. for setting aside the orders of the authorities below, .....

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Feb 05 2003 (HC)

Punjab State Warehousing Corporation Vs. Commissioner of Income-tax an ...

Court : Punjab and Haryana

Decided on : Feb-05-2003

Reported in : [2003]264ITR597(P& H)

..... any law for the marketing of commodities, any income derived from the letting of godowns or warehouses, for storage, processing or facilitating the marketing of commodities, ..... date when the amount of advance tax is treated as payment of income-tax and is set-off against the income-tax demand raised in the assessment order. the excess amount, if any, after adjustment of the amount of income-tax payable by the assessee will have to be refunded under the provisions of chapter xix of the income-tax act. interest on delayed refund, if ..... any, has to be paid under section 243. if in the assessment order, the income-tax officer determines that any sum is refundable to the assessee, ..... a statutory corporation incorporated under the warehousing corporations act, 1962, it earns income primarily from maintaining and letting of godowns or warehouses for storage, processing or facilitating the marketing of agricultural commodities. it is claimed that in terms of section 10(29) of the income-tax act, 1961 (hereinafter referred as 'the act'), in the case of an authority constituted under .....

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Apr 25 2003 (HC)

Commissioner of Income-tax Vs. Punjab Rice and General Mills

Court : Punjab and Haryana

Decided on : Apr-25-2003

Reported in : (2004)187CTR(P& H)378; [2003]264ITR582(P& H)

..... g.s. singhvi, j.1. in this appeal under section 260a of the income-tax act, 1961 (for short, 'the act'), the revenue has sought determination of the following questions of law :'1. whether the learned tribunal was correct in upholding the order of the commissioner of income-tax (appeals) deleting the addition of rs. 8,95,630, which was made on account of difference ..... questions of which determination has been sought by the revenue cannot be treated as substantial questions of law within the meaning of section 260a of the act. the finding recorded by the commissioner of income-tax (appeals) which was confirmed by the tribunal was that there was no significant discrepancy in the stock maintained by the assessee and the bank statement ..... does not suffer from any patent legal infirmity because the assessee had furnished satisfactory explanation. the commissioner of income-tax (appeals) discussed this aspect of the matter in detail and accepted the plea of the assessee by recording the following observations :'as the appellant-firm had furnished certain ..... assessing officer framed the assessment under section 143(3) of the act by making an addition of rs. 8,95,639 on account of difference in the value of paddy shown in the bank statement and books of account. on appeal, the commissioner of income-tax (appeals), jalandhar, (for short, 'the cit(a)') deleted the additions.3. the revenue challenged the appellate order .....

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Nov 24 2003 (HC)

Punjab Leasing Pvt. Ltd. Vs. Assistant Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Nov-24-2003

Reported in : (2004)190CTR(P& H)594; [2004]267ITR779(P& H)

..... was reopened. the petitioner submitted a reply to the notice under section 148, and enclosed therewith the order passed under section 143(3) of the income-tax act, 1961, whereby the department itself had accepted the petitioner's income at rs. 1,12,698 for the said assessment year in question. the petitioner also submitted a representation dated december 14, 2001 (in response to ..... issuing the said notice. through a communication dated december 23, 2002, the reasons on the basis of which the notice was issued to the petitioner under section 148 of the income-tax act, 1961, were supplied to him.6. the petitioner, through the instant writ petition, has impugned the notice issued to him under section 148 of the ..... . on the receipt of the reply of the petitioner, proceedings initiated against the petitioner under section 263 of the income-tax act, 1961, were also dropped.5. after the entire deliberations, as noticed hereinabove, the petitioner was issued a notice under section 148 of the income-tax act, 1961, for the assessment year 1993-94, dated may 29, 2001, whereby the petitioner's assessment for the ..... -94 was taken up for scrutiny and the assessment under section 143 of the income-tax act, 1961, whereupon the authorities determined the taxable income of the petitioner as rs. 1,12,698. while passing the order under section 143(3) of the income-tax act, 1961, depreciation deductible from the petitioner's income was determined at rs. 16,22,387.3. on the same controversy, the petitioner .....

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Sep 15 2003 (HC)

Commissioner of Income-tax Vs. Ms. Monica Oswal,

Court : Punjab and Haryana

Decided on : Sep-15-2003

Reported in : (2004)190CTR(P& H)56; [2004]267ITR308(P& H)

..... in favour of the revenue. no costs.ashutosh mohunta, j.58. these appeals have been filed by the commissioner of income-tax, ludhiana, under section 260a of the income-tax act, 1961, against the common order of the income-tax appellate tribunal, chandigarh bench, passed in i. t. a. nos. 62 and 74 of 1998 dated january 29, ..... that the principles governing a second appeal under section 100 of the code of civil procedure shall also apply to an appeal under section 260a of the income-tax act, 1961. in these cases, it has been held that in view of the provisions of section 100, the high court cannot substitute its own opinion ..... of reference on the ground that the division bench had not framed the point of law as required by section 260b(2) of the income-tax act, 1961 (for short, 'the act'). the objection of shri sawhney was overruled by a detailed order dated april 8, 2002, and the following points of law were framed ..... that the principles governing a second appeal under section 100 of the code of civil procedure shall also apply to an appeal under section 260a of the income-tax act, 1961. in these cases, it has been held that in view of the provisions of section 100, the high court cannot substitute its own ..... recorded a finding of fact that the gifts had been given by the donors. no ground for interference in an appeal under section 260a of the income-tax act is made out.40. section 260a provides for appeal to the high court. the appeal lies when 'the high court is satisfied that the case .....

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Aug 11 2003 (HC)

Commissioner of Income-tax Vs. Ruhi Construction Co. (P.) Ltd.

Court : Punjab and Haryana

Decided on : Aug-11-2003

Reported in : [2004]267ITR455(P& H)

..... (p.) ltd., 6-community centre, saket, new delhi.2. this appeal has been filed under section 269h of the income-tax act, 1961 (hereinafter referred to as 'the act'), against the order of the income-tax appellate tribunal, delhi branch 'a', new delhi, whereby the property under acquisition has been released by the said tribunal vide ..... m. v. and the 13,20,261apparent consideration.'5. it has further been noticed in the appellate order that the deputy com' missioner of income-tax determined the rates on the basis of valuation determined in grg 418/85-86 and grg 419/85-86. in these two matters, the ..... of the report of the gvo. the tribunal, in fact, has quoted the relevant part of the order passed by the deputy commissioner of income-tax, which would clearly show that the primary reliance placed by the concerned officer was upon the report of the gvo. it would be appropriate ..... , the transferee replied to the notice on a variety of grounds, which have since been noticed by the deputy commissioner of income-tax, acquisition, and need not be reiterated in this respect. on consideration of the matter and while relying upon the report from the gvo, ..... order dated may 21, 1990. the deputy commissioner of income-tax, acquisition, rohtak range, on the basis of screening of form .....

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May 14 2003 (HC)

Bawa Mahesh Singh and ors. Vs. Income-tax Officer

Court : Punjab and Haryana

Decided on : May-14-2003

Reported in : (2005)196CTR(P& H)282; [2005]273ITR405(P& H)

..... filed this petition under section 482 of the code of criminal procedure ('the code' for short) for quashing the complaint under sections 276c and 277 of the income-tax act, 1961 (hereinafter referred to as 'the act'), for the assessment year 1985-86, filed against them (as reproduced in para. 1 of the petition) as also the summoning order dated september 17, 1987 (annexure ..... income-tax officer along with evidence of payment of taxes.question no. 4 : the income-tax circulars are not very clear as to whether the immunity from penalty and prosecution ..... respondent. however, in p. jayappan's case : [1984]149itr696(sc) it was held by the hon'ble supreme court that in an appropriate case the result of proceedings under the income-tax act which has a bearing on the question in issue, the criminal court may drop the proceedings in the light of an order passed under the ..... years and should also file returns for the relevant years. he should also produce evidence of payment of taxes before march 31,1986. the filing of the returns will be regularised by issue of formal notices under section 148 of the income-tax act/section 17 of the wealth-tax act. in cases where the assessments are pending, the taxpayer should file revised return before the .....

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Sep 26 2003 (HC)

Gem Granites Vs. Commissioner of Income-tax and ors.

Court : Punjab and Haryana

Decided on : Sep-26-2003

Reported in : (2004)192CTR(P& H)26; [2004]267ITR640(P& H)

..... and 30 :'25. it is correct that an assessment order was passed by respondent no. 5 on october 31, 2001, under section 158bc(c) read with section 144 of the income-tax act, 1961, in respect of smt. sabita behl (respondent no. 7) for the block period april 1, 1989, to may 15, 1999, but no part of the moneys (rs. 3,65 ..... pal through bank drafts.3. the house of respondents nos. 6 and 7 situated at faridabad was searched by the authorities of the income-tax department on may 15, 1999, under section 132 of the income-tax act, 1961 (for short, 'the act'). in the course of search, a number of papers and documents concerning movable and immovable assets including various bank accounts were seized. it ..... 1, 1989, to may 15, 1999, has been filed by smt. sabita behl. the assessment has been made ex parte under section 158bc(c) read with section 144 of the income-tax act, 1961, on the basis of seized documents and records for earlier years. as regards filing of appeals by the petitioner before the commissioner of ..... of respondent no. 7 including rs. 38,23,500 and the appeals filed by it under section 246a of the act in relation to the assessment years 1997-98, 1998-99 and 1999-2000 were summarily dismissed by the commissioner of income-tax (appeals), faridabad (respondent no. 4), without giving opportunity of hearing to its representative.6. the petitioner has challenged the order .....

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