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Judgment Search Results Home > Cases Phrase: income tax act Court: rajasthan Year: 2007 Page 1 of about 88 results (0.082 seconds)

Nov 13 2007 (HC)

Deputy Commissioner of Income-tax (Assessment) and anr. Vs. Rajasthan ...

Court : Rajasthan

Decided on : Nov-13-2007

Reported in : (2008)217CTR(Raj)191; [2008]299ITR253(Raj)

..... . : [2000]243itr48(sc) , principally because the assessee in that case had not challenged the provisions of sub-section (1a).11. constitutional validity of section 143(1a)(a)(b) of the income-tax act was challenged in sanctus drugs pharmaceuticals p. ltd. v. union of india : [1997]225itr252(mp) . the division bench (headed by the hon'ble chief justice a. k. mathur, as his ..... which the return filed by the assessee was correct by reason of the law as it stood when the return was filed. a retrospective amendment of section 28 of the income-tax act rendered that return incorrect. an adjustment in the return was made under sub-section (1) of section 143 and, therefore, the provisions of sub-section (1a) were sought to be ..... with the view-expressed by the division bench in sanctus drugs pharmaceuticals p. ltd. : [1997]225itr252(mp) , that by the insertion of this provision in the income-tax act the assessee may not be able to evade tax by resorting to the method of showing loss first and then reducing the loss. we thus hold that the provision is compensatory in nature.14. for ..... clever taxpayers. hence, it is of compensatory nature. thus, there is no unconstitutionality in section 143(la)(a)(b) of the income-tax act.12. their lordships of the supreme court in rai ramkrishna v. state of bihar : [1963]50itr171(sc) , indicate as under (page 179):.the legislative power conferred on the appropriate legislatures .....

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May 15 2007 (HC)

The Commissioner of Income-tax Vs. Premnath Motors (Raj.) Pvt. Ltd.

Court : Rajasthan

Decided on : May-15-2007

Reported in : 2008(1)WLN503

..... the annual value. if the view of the tribunal is accepted, it is clear distortion of the provisions of section 23(1)(b) of the income tax act and such view cannot be countenanced. in determination of the annual value what is to be deducted is provided in section itself for example where the ..... it is this finding of the tribunal that has given rise to the aforesaid question of law.3. section 23 of the income tax act, 1961 provides for the mode and manner of determination of annual value of the property for the purposes of section 22 i.e ..... appeal, the tribunal relied upon its decision in verma family trust v. 6th income tax officer, bombay reported in (1984) 7 itd 392 and held that based on the said decision the stamp duty charges incurred while giving the property on ..... while determining the annual letting value the amount spent on stamp duty and registration fee in the sum of rs. 33,074/- be reduced. the commissioner of income tax (appeals) negatived both the contentions and disallowed the deduction of rs. 33,074/- paid as stamp duty and registration expenses on the lease deed. in further ..... lease agreement are in the nature of capital expenditure and section 24 does not provide any allowance of such expenditure from the property income. in appeal before the commissioner of income tax (appeals), rajasthan, various grounds were raised against the dis-allowance of claim of deduction of 33,074/- paid as stamp duty and .....

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May 15 2007 (HC)

Cit Vs. Premnath Motors (Raj.) (P.) Ltd.

Court : Rajasthan

Decided on : May-15-2007

Reported in : [2008]297ITR83(Raj)

..... assessee in computing the annual value. if the view of the tribunal is accepted, it is clear distortion of the provisions of section 23(1)(b) of the income tax act and such view cannot be countenanced. in determination of the annual value what is to be deducted is provided in section itself for example where the property is in ..... the owner of the property. it is this finding of the tribunal that has given rise to the aforesaid question of law.3. section 23 of the income tax act, 1961 provides for the mode and manner of determination of annual value of the property for the purposes of section 22, i.e ..... held that the expenses in connection with lease agreement are in the nature of capital expenditure and section 24 does not provide any allowance of such expenditure from the property income. in appeal before the commissioner (appeals), rajasthan, various grounds were raised against the disallowance of claim of deduction of rs. 33,074 paid as stamp duty and ..... owner are allowed to be deducted in determination of annual value of the property of that previous year in which such taxes are actually paid. once the annual value is determined what deductions are to be made from income from house property are provided in section 24. we do not intend to deal with the deductions available under section ..... r.m. lodha, j.1. the income tax appellate tribunal, jaipur bench, jaipur has referred the following question for our answer:whether, on the facts and in the circumstances of the case and in law, .....

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Nov 14 2007 (HC)

Smt. Geeta Devi Khutenta Vs. Debts Recovery Tribunal and ors.

Court : Rajasthan

Decided on : Nov-14-2007

Reported in : AIR2008Raj55; RLW2008(2)Raj1246

..... ; and (lit) that 25% of the purchase price was not deposited immediately by the auction-purchasers.14. part iii of second schedule of the income-tax act, 1961 that has been made applicable for the recovery of debts determined by the tribunal deals with the attachment and sale of immovable property. rule 53 ..... by the single judge.13. mr. alok sharma counsel for the appellant would submit that the second schedule of the income-tax act, 1961 that provides for procedure for recovery of tax has been made applicable for the recovery of the amount of debt determined by the tribunal by section 29 of the ..... it shall not be necessary to make a separate proclamation for each lot, unless proper notice of the sale cannot, in the opinion of the tax recovery officer, otherwise be given.55. no sale of immovable property under this schedule shall, without the consent in writing of the defaulter, take ..... for short, 'the borrower') and the present appellant (for short, 'the guarantor') under the recovery of debts due to banks and financial institutions act, 1993 (for short, 'the act of 1993') before the debts recovery tribunal, jaipur.4. on 24th august, 2001, the debts recovery tribunal passed an order/decree for an amount ..... act of 1993 and there has been wholesale breach of the mandatory provisions contained in the second schedule and, thus, the .....

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May 09 2007 (HC)

Cit Vs. Hotel Ratanada International P. Ltd.

Court : Rajasthan

Decided on : May-09-2007

Reported in : (2007)213CTR(Raj)453; [2007]293ITR557(Raj)

..... dwelling house, hotels, motels, etc. the said clause cannot lead to any justifiable inference that the rental income of the assessee is an income from the business.14. there being a specific head under the income tax act, 1961, 'income from house property', the income received as rent from the property ordinarily must be computed under that head unless it is clearly established ..... east india housing and land development trust ltd. v. 9 cit : [1961]42itr49(sc) , the supreme court while dealing with the provisions contained in the indian income tax act (11 of 1922) held that the distinct heads specified in section 6 of the income tax act indicating the sources were mutually exclusive and income derived from different sources falling under specific heads has to ..... association of the company and overall facts of this case, the rental income received by the assessee should be assessed under the head 'income from business'.8. the legal position is no more res integra that the heads of income enumerated in the income tax act are mutually exclusive and income derived from different sources falling under specific heads has to be computed ..... be computed for the purpose of taxation in the manner provided by the appropriate section. if the income from a source falls within a specific head set out in .....

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Jan 04 2007 (HC)

Commissioner of Income-tax Vs. Prameshwar Bohra

Court : Rajasthan

Decided on : Jan-04-2007

Reported in : [2008]301ITR404(Raj)

..... contention that since the first notice was already pending, the second notice could not have been issued and, secondly, that there is no provision in the income-tax act to vacate the already issued notice and considering it to be pending, by ignoring the vacation order, no fresh i notice could be issued.4. on ..... in question?2. whether, on the facts and in the circumstances of the case and on a correct interpretation of sections 68 and 69 of the income-tax act, 1961, the tribunal was right in holding that the unexplained investment/cash credit amounting to rs. 1,55,316 appearing in the books of account on ..... in this appeal:1. whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal, was justified in quashing the notice issued on june 17, 1997, under section 148 of the income-tax act, 1961, for the assessment year 1993-94 by resorting to proviso to section 147 even by holding ..... in relation to the assessment year 1993-94, under section 147 the first notice was issued on july 11, 1996, itself and the income which allegedly escaped assessment from tax was the one which is the subject-matter of question no. 2 that is to say an amount of investment/cash credit of rs. ..... of expiry of limitation for assuming jurisdiction to issue notice under section 148/147 arises for consideration. in fact, the impugned notice for reassessment of the income for the assessment year 1993-94 has been issued on june 17, 1997, that is to say before the expiry of 4 years from the .....

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Jul 20 2007 (HC)

Jagdish Sharma Vs. Union of India (Uoi) and ors.

Court : Rajasthan

Decided on : Jul-20-2007

Reported in : (2008)217CTR(Raj)472; RLW2007(4)Raj3127

..... attachment of 3 fdrs of rs. 1 crore of the petitioner vide the impugned attachment order dated 17.04.2007 passed under section 281b of the income tax act, 1961 (for brevity, hereinafter to be referred as 'the act'), though the demand on the capital gains on the sale of the agricultural land made by the petitioner assessee was only to the extent of ..... the context that the unutilised portion of the capital gain on the sale of property used for residence should be deposited before the date of furnishing the return of the income-tax under section 139 of the it act. section 139 of the it act, 1961, cannot be meant only as section 139(1) but it means all sub-sections of section 139 of the ..... of the respondent/assessee that the respondent/assessee could fulfil the requirement under section 54 of the it act for exemption of the capital gain from being charged to income-tax on the sale of property used for residence upto 30th march, 1998, inasmuch as the return of income-tax for the asst. yr. 1997-98 could be furnished before the expiry of one year from ..... the end of the relevant assessment year or before the completion of the assessment whichever is earlier under sub-s. (4) of section 139 of the it act, 1961.9. for the reasons discussed above, we answer .....

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Apr 30 2007 (HC)

Commissioner of Income-tax Vs. Raj Kumar Sharma

Court : Rajasthan

Decided on : Apr-30-2007

Reported in : [2007]294ITR131(Raj)

..... the question here is whether the assessee was able to establish reasonable cause under section 273b justifying that no penalty should be imposed in contravention of section 271d of the income-tax act. none of the transactions exceeds, as noticed above, rs. 20,000. the tribunal accepted that the assessee bona fide believed that the cash transactions below rs. 20,000 was ..... well aware of the legal provisions. according to her, the explanation furnished by the assessee does not make out any reasonable cause within the meaning of section 273b of the income-tax act and that the impugned order gives rise to the substantial question of law.we are not persuaded by the submission of counsel for the revenue.7. section 271d of the ..... income-tax act provides for penalty for failure to comply with the provisions of section 269ss of the income-tax act. according to this provision, if a person, inter alia, accepts any loan in contravention of the provisions of section 269ss of the ..... deposit below rs. 20,000 does not contravene section 269ss of the income-tax act.5. the assessing officer imposed the penalty of rs. 90,000 under section 271d of the income-tax act.in appeal preferred by the assessee, the commissioner of income-tax (appeals) maintained the order of the assessing office.on further appeal, the income-tax appellate tribunal by its order dated october 6, 2005, set aside .....

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Jul 30 2007 (HC)

Lord Venketshwara Caterers Vs. Commercial Taxes Officer, Anti Evasion, ...

Court : Rajasthan

Decided on : Jul-30-2007

Reported in : (2007)10VST535(Raj)

..... order. nothing of this sort has been done by the assessing authority in the present case.12. in commissioner of income-tax, west bengal v. anwar ali : [1970]76itr696(sc) , while considering section 28(1)(c) of the indian income-tax act, 1922, which dealt with imposition of penalty, their lordships of the supreme court held that before penalty can be ..... or of deliberate furnishing of inaccurate particulars in his return. it has been held in the commissioner of income-tax, west bengal v. anwar ali : [1970]76itr696(sc) while construing a similar provision in section 28(1)(c) of the income-tax act, 1922 that mere rejection of the explanation of the assessee as false does not automatically attract penalty in ..... imposed the entirety of circumstances must reasonably point to the conclusion that the disputed amount represented income and that the assessee had consciously concealed the particulars of his ..... 'deliberately' was there. the expression used was 'deliberately furnished inaccurate particulars of such income'. the word 'deliberately' was omitted by the finance act, 1964, with effect from april 1, 1964.13. anwar ali's case : [1970]76itr696(sc) was followed in anantharam veerasinghaiah & co. v. commissioner of income-tax, a.p. : [1980]123itr457(sc) . while considering the question of imposition .....

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Feb 15 2007 (HC)

Mahaveer Oil Industries Vs. C.T.O.

Court : Rajasthan

Decided on : Feb-15-2007

Reported in : RLW2008(1)Raj100

..... been taken in appeal, reference or revision before any authority under the act (the income tax act, 1961). therefore, that was a case of two separate proceedings - one initiated against the assessee 's' a hindu undivided family and the order passed against said hindu undivided family ..... the above facts, it is clear that the assessing officer for the first time inflicted proceedings against said petitioner of the above case by issuing notice under section 148 of income tax act by taking help of order passed by the settlement commission wherein said petitioner was not party and further, there was no assessment order for the assessment year 1981 which had ..... court held that so far as the assessment year 1981-1982 is concerned, the period of limitation prescribed was ten years for issuance of notice under section 148 of the income tax act. said period expired on 31.3.1992. the notice issued on 22.1.1996 was found to be barred by limitation. the division bench of patna high court held that ..... passed by the assessing authority has not been effected in any manner.29. learned counsel for the assessee relied upon few judgments which arose in income tax act. in the case of gauri shankar choudhary v. additional commissioner of income-tax and anr. reported in : [1998]234itr865(patna) , the facts were that there was a case before the settlement commission in which the assessee concern .....

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