Court : Rajasthan
Reported in : 229ITR310(Raj)
..... case would cease to be a referable one and, therefore, the course to be adopted is to reject a reference under section 256(2) of the income-tax act, 1961. despite such observation we do not think it to be an absolute question of law.15. last but not the- least comes the fourth question ..... raj is an impartible estate and the assessee had transferred the property to his wife for maintenance, the provisions of section 16(3) of the previous income-tax act, 1922, were not applicable to the case of the assessee and it was contended that he being the holder of an impartible estate, the properties ..... not be challenged before the high court by way of proper writ.8. as and when an application was filed under section 256(2) of the income-tax act a notice was served on the respondent, shri mahendra singhji, who did not choose to engage any advocate and thereafter filed a written submission by registered ..... levy of interest under sections 139(8) and 21,7 was also set aside.7. the department had filed an application under section 256(1) of the income-tax act for making a reference of the aforesaid four questions. the tribunal has rejected the application on the ground that questions nos. (i) and (ii) no ..... property was part and parcel of the official residence of the ruler and thereby the ruler enjoyed the benefit of exemption under the income-tax act and the wealth-tax act. the late maharana bhagwat singh being the owner of the property transferred the same by custom and disposed of the property in .....Tag this Judgment!
Court : Rajasthan
Reported in : 217ITR369(Raj); 1995(3)WLC158; 1995(2)WLN8
..... tribunal was not justified in holding that the interest received of rs. 2,58,089 on short-term deposits with the bank was not taxable under section 56 of the income-tax act. we are further of the view that the interest so received on short-term deposits could not be reduced from the interest payments while capitalising the various expenditure on capital ..... case, the appellate tribunal was justified in holding that interest received of rs. 2,58,089 on short-term deposits with banks was not taxable under section 56 of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that interest received of rs. 2,58,089 on short ..... case.6. we have considered over the matter. the provisions of section 56 provide that income of every kind, which is not to be excluded from the total income under this act shall be chargeable to income-tax under the head 'income from other sources', if it is not chargeable to income-tax under any of the heads specified in section 14, items (a) to (e). section 32 ..... other sources under section 56. the contention of the assessee that the interest amount paid should be set off against the income earned, was also negatived by the income-tax officer on the ground that section 57 of the act permits the deduction only of such expenditure which has been incurred by the assessee in earning the interest. since the borrowings by the company .....Tag this Judgment!
Court : Rajasthan
Reported in : 2002(1)WLC475
..... contention of the assessee and disallowed the claim inter alia on the ground that since the amount of tax had actually not been paid in the previous year relevant to assessment ..... business for the assessment year in question. he has claimed that it is not hit by section 43b of the income tax act, 1961. the assessing authority did not agree with the ..... section 43b as deduction and can be allowed as deduction only in the year of actual payment.3. in appeal, the commissioner of income tax (appeals) had confirmed the order of income tax officer.4. however, the tribunal, on second appeal before it, had accepted the contention of the assessee in principle. however, it ..... under the provisions of sales tax act before the submission of return in time. he, according to law governing said tax, was not a defaulter yet by invoking section 43b his claim for deduction of said amount paid by way of tax has not been allowed in computing his income from profits and gains of ..... only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him.8. later on operation of clause (a) was widened by substituting words tax, duty, cess or fee by whatever name called, for words 'tax or duty' vide finance act, 1988 (26 of .....Tag this Judgment!
Court : Rajasthan
Reported in : 112CompCas637(Raj); 2001(2)WLC282; 2001(4)WLN85
..... or other valuable article or thing and such money, bullion, jewellery or other valuable article or thing represents either wholly or partly income or property, which has not been, or would not be disclosed for the purpose of indian income tax act. thus any person, including a non resident indian, assuming the appellant to be one, would be amenable to search and seizure under ..... who was a non resident indian, would not be liable to tax in india and was, therefore, not liable to disclose any income for the purpose of indian income tax act. this argument is also fallacious because even a non resident indian can have income earned in indian which may be taxable under the indian income tax act and which might not have been disclosed or would not be ..... kokje, j. 1. this is an appeal under section 260-a of the income tax act, 1961 (hereinafter referred to as the act).2. the facis giving rise to this appeal briefly stated, are as under:on 16.1.97, search and seizure operations were carried out by the officers of the income tax department at the business premises of m/s. h.p. dhanuka plastic chem ..... section 132 of the act.4. the next contention of the learned counsel was that there was no question of having reason to believe .....Tag this Judgment!
Court : Rajasthan
Reported in : 1984(15)ELT72(Raj); 156ITR864(Raj); 1983WLN(UC)279
..... gold in respect of which contravention has either been made or is about to be made.12. the expression 'reason to believe' was used in section 34 of the indian income-tax act, 1922.13. it came up for consideration in calcutta. discount co. ltd. v. ito : 41itr191(sc) . it was held therein that this expression means a belief in good faith ..... accepted the declaration of the said gold ornaments as her wealth. the petitioner's husband is shyam sundar dhoot. he is a separate assessee under the provisions of the wealth-tax act as well as the income-tax act (no. xliii of 1961) (for short, ' the act '). the mother-in-law of the petitioner, smt. rukma bai dhoot, was also assessed separately under the wealth ..... belong to .the petitioner, they cannot be delivered to her. it has been further stated that a notice was issued under section 132(1) of the act to the petitioner to appear before the income-tax officer and explain the variance in the two lists so that ornaments may be returned to her, but on one pretext or the other, she refused to ..... refused to accept the representation. it was, therefore, sent to the office of the assistant collector, central excise and customs, jodhpur, and the authority under the act of 1968. the superintendent was asked by the income-tax officer to sit just outside his room within the office premises keeping posted his guard inside the room so that the moment the gold ornaments were .....Tag this Judgment!
Court : Rajasthan
Reported in : (1979)12CTR(Raj)97; 1979(12)WLN674
..... section 64 more as a question of right than as a matter of convenience only. it was for the above decision that the indian income-tax act, 1922, was amended by the indian i.t. (amend.) act, 1940 (xl of 1940), by adding to clause (b) of sub-section (5) of section 64 the words ' in consequence ..... for determination under this subsection before assessment is made. (4) notwithstanding anything contained in this section, every income-tax officer shall have all the powers conferred by or under this act on an income-tax officer in respect of any income, profits or gains accruing or arising or received within the area for which he is appointed. (5) the ..... to any assessee- (a) on whom an assessment or reassessment for the purposes of this act has been, is being or is to be made in the course of any case in respect of which a commissioner of income-tax appointed without reference to areaunder sub-section (2) of section 5 is exercising the functions of ..... learned counsel we may, here, reproduce the relevant provisions of section 64 of the act:'64. place of assessment.--(1) where an assessee carries on a business, profession or vocation at any place, he shall be assessed by the income-tax officer of the area in which that place is situate or, where the business, ..... c.m. lodha, c.j.1. this is a reference under section 256(1) of the i.t. act, 1961, by the income-tax appellate tribunal, delhi bench 'c', new delhi, at the request of m/s. indra & co., a partnership firm (hereinafter to be referred to as ' .....Tag this Judgment!
Court : Rajasthan
Reported in : 142ITR253(Raj)
..... tribunal was justified in holding that there was no escapement of income on account of failure on the part of the assesses to disclose income fully and truly and thus initiation of proceedings under section 147(a)/148 of the income-tax act, 1961, was without any jurisdiction.? '2. the ito gave ..... and annulled the assessment order passed by the ito. the department aggrieved against the order of the aac filed an appeal before the income-tax appellate tribunal. the tribunal, after taking into consideration the facts and circumstances of the case, held that there was no material on ..... jurisdiction under section 147(a) two conditions were to be satisfied, firstly, that the ito must have reason to believe that income, profits or gains chargeable to income-tax have escaped assessment, and, secondly, he must have reason to believe that such escapement has occurred by reason of either ..... kasliwal, j. 1. this is a reference application under section 256(2) of the i.t. act, 1961, by the department for giving a direction to the income-tax appellate tribunal, jaipur bench, jaipur, for stating the case and refer the following question of law :' ..... a notice under section 147(a) to the assessee and in pursuance of that notice the ito finally held that a house property known as ' devi asha ' belonged to the assessee up to 1939 and was transferred by him to his wife without adequate consideration. the ito as such clubbed the income .....Tag this Judgment!
Court : Rajasthan
Reported in : 187ITR98(Raj)
..... the year 1977-78. the tribunal upheld the order passed by the learned commissioner. 7. reference under section 256 of the income-tax act was submittedby the commissioner of income-tax, jaipur, before the tribunal with therequest that questions of law arise out of the order of the tribunal and the questions referred ..... the present case, particularly when it is an assessment under section 263 and is not a regular assessment under sections 143/144 of the income-tax act any assessment made in pursuance of the directions issued by the commissioner under section 263 in his revisional jurisdiction cannot be said to be ..... that the fresh assessment does not fall within the purview of sections 143 and 144 read with clause (40) of section 2 of the income-tax act. assessment made under section 263 has been termed 'fresh assessment'. this fresh assessment is limited only to the extent of directions given by the ..... under section 143 or 144.' 11. the words 'fresh assessment' as used in section 263 has not been defined under any of the provisions of the income-tax act. 12. every word may not have a fixed connotation or meaning in all cases. the words 'assessment', 'reassessment', 'fresh assessment', may be of ..... on the ground that the appeal is not maintainable as an appeal does not lie. thereafter, an application under section 154 of the income-tax act was submitted by the assessee for the rectification of the mistake stating therein that interest is not chargeable and that the same cannot be charged .....Tag this Judgment!
Court : Rajasthan
Reported in : (1990)83CTR(Raj)229; 187ITR219(Raj)
..... is the person making a statement in any verification, or delivering an account or statement which is false who has been made liable to punishment under section 277 of the income-tax act, 1961. it does not create any vicarious liability. what the law requires is that the complaint should prima facie disclose the offence. if the complaint does not disclose commission of ..... high court in modi industries ltd. v. b.c. goel : 144itr496(all) , wherein it had been held that the word 'person' occurring in sections 277 and 278 of the income-tax act, 1961, in view of the definition clause in section 2, includes a company. a company is hence prima facie liable to be prosecuted for the commission of an offence under ..... given and, therefore, the principle of promissory estoppel does not arise in this case. mr. arora has further submitted that before launching prosecution, according to section 279(1) of the income-tax act (old), no sanction is necessary and the prosecution has only to be launched at the instance of the commissioner and, therefore, the argument about sanction is not available to the ..... constitution, the petitioners have prayed for quashing the order annexure 13 dated may 31, 1988, whereby the waiver petition filed under sections 273a and 273a of the income-tax act, 1961 (hereinafter referred to as 'the act'), has been rejected. a direction has also been sought for reconsideration of the waiver petition by the non-petitioners or, in the alternative, the petitioners have claimed .....Tag this Judgment!
Court : Rajasthan
Reported in : 1980()WLN70
..... firms, rajasthan, jaipur, as no. 904/67 on june 26, 1967. the assessee-firm then applied for registration of the firm under section 185 of the income-tax act, 1961. the ito doubted the genuineness of the partnership firm. he recorded the statements of lekhraj and kalidass (two newly introduced partners) on july 26, 1971 ..... question is yes, then, whether, on the facts and in the circumstances of the case, the firm was entitled to registration ?' 6. d.b. civil income-tax case no. 269 of 1975, m/s. hemandass dhanrajmal (jawahar sagar project), had claimed the status of a registered firm for the assessment year 1968-69. ..... created with a view to divert its profits. with these observations the appeal was dismissed. the assessee went up in appeal before the income-tax appellate tribunal, jaipur bench, but without success. an application was moved before the tribunal for making a reference to this court under section 256(1) ..... a separate and distinct entity from the main firm, m/s. hemandass dhanrajmal. the assessee went up in appeal to the income-tax appellate tribunal, but without success. an application was made to the tribunal for making a reference to the court under section 256(1) of the ..... shrimal, j.1. these two applications filed under section 256(2) of the i.t. act, 1961, at the instance of the assessee, raise identical questions and can, therefore, be disposed of by one order.2. d.b. civil income-tax case no. 69 of 1976, m/s. hemandass dhanrajmal (khari feeder project, jaipur), claimed .....Tag this Judgment!