Court : Patna
..... present writ application for quashing the demand notices dated november 4/10, 1999, passed by the deputy commissioner of income-tax, circle-2(1), patna, (respondent no. 4), with regard to charging interest under section 245d(6a) of the income-tax act, 1961 (for short 'the act') for the period may, 1999, to october 1999, as well as for quashing the order passed by the assistant ..... commissioner of income-tax, circle 1, patna (respondent no. 5), dated april 18, 2002/may 2, 2002, rejecting the grievance petition dated ..... of the present writ application are that the petitioner is a doctor engaged in a private practice since 1989. on august 10, 1994, the income-tax department made a search and seizure operation on his premises and found undisclosed income. the petitioner filed an application on february 2, 1995, for settlement of the cases for the assessment years 1991-92 to 1994-95 ..... assessee is liable to pay interest. the case in hand is quite different one. here the settlement commission determined the amount of tax and interest but left the actual calculation to be done by the assessing officer on the total income as aforementioned and interest to be charged as per direction contained in the order. this calculation was done and, thereafter, the .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1971SC95; 78ITR90(SC); 1SCR769
..... and untrue estimates of tax and had not given any satisfactory explanation in respect of them. he imposed penalties under section 273 of ..... a.n. grover, j.1. the respondent company which is an assessee was required by the income tax officer by notices issued under section 18a(1) of the indian income tax act 1922, hereinafter called the 'old act' to make an advance payment of tax amounting to rs. 3,17,077 for the assessment year 1960-61 and rs. 3,54,911 for the assessment year 1961-62 ..... 'new act' had come into force. the income tax officer took the view that the assessee had furnished inaccurate ..... subsequently riled its returns of income for the aforesaid two years declaring the total income of rs. 4,53,942/- and rs. 7,02,383/- respectively. the income tax officer completed the assessment of total income of rs. 5,35,000/- and rs. 8,99,029/- for the assessment years 1960-61 and 1961-62 on january 21, 1963 after the income tax act 1961, hereinafter called the .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2005SC4000; (2005)197CTR(SC)590; 2005(192)ELT3(SC); 277ITR435(SC); JT2005(8)SC50; (2005)7SCC294; 2005(2)LC1425(SC)
..... learned asg appearing on behalf of the department would submit that the scheme was a self-contained code; that it stood on its own force different from the income tax act/wealth tax act; that the intention of the scheme as reflected in the speech of former finance minister indicated that the purpose of the scheme was to bring to an end ..... , the assessee herein filed appeals and revisions as mentioned in the statement given herein below: statement of appeals and revision petition vis--vis declarationsin respect of kvss under income tax act.___________________________________________________________________________________________assessment appeals/ date of date of date of order status on date of status on year revision filing filing on kvss kvss applicat the appli- petition of appeal/ ..... assessments had become final in the year 1992-93 (when the assessee's appeals were dismissed for failure to pre-deposit self-assessed tax) and that the respondent herein had filed revisions under the income tax act and wealth tax act in november/december, 1998 only to obtain the benefit of kar vivad samadhan scheme, 1998, which came into force w.e.f ..... as follows:in respect of assessment years 1984-85 to 1991-92, the assessee was liable to pay tax under assessment orders passed vide section 143(3) of the income tax act, 1961 and also under the assessment orders passed under the wealth tax act, 1957.being aggrieved by the assessment orders, the assessee herein, preferred appeals to the commissioner (a) .....Tag this Judgment!
Court : Patna
..... from the act, inasmuch as what section 119 has empowered is to issue orders, instructions or ..... directions for the 'proper administration' of the act or for such other purposes specified in sub-section (2) of the section. ..... court challenging notices issued under section 148 of the income-tax act, 1961.2. following the filing of the returns by the assessees for the assessment year 1992-93, notices were issued to them under section 143(2) of the act. while the proceedings in terms of section 143(3) of the act were pending pursuant to the notice, it appears that ..... jaikishan gopikishan and sons' v. cit : 178itr481(mp) .6. mr. debi prasad, learned counsel appearing for the revenue, relied upon a supreme court decision in kerala financial corporation v. cit : 210itr129(sc) , wherein it was observed as follows (headnote) : ' a circular of the central board of direct taxes under section 119 of the income-tax act, 1961, cannot override or detract .....Tag this Judgment!
Court : Kerala
Reported in : (1989)78CTR(Ker)25; 179ITR4(Ker)
..... valid ? '(2) whether, on the facts and in the circumstances of the case, the share income of the wife is to be included in the total income of the asses-see ?' 4. admittedly, concluded assessments can be reopened under section 147(a) of the income-tax act, only if the income-tax officer has reason to believe that, by reason of the omission or failure on the ..... part of an assessee to make a return under section 139 for any assessment year to the income-tax officer or to disclose fully and truly all material facts necessary for his ..... kapurthala in his capacity as the karta of the hindu undivided family and, therefore, section 64(1) did not apply to him in respect of the share income of his wife from that firm. the income-tax officer reopened the assessments completed on may 30, 1972, arid october 19, 1972, for the assessment years 1970-71 and 1972-73 under section 147(a ..... . t. a. no. 67 (coch) of 1981. the assessees are the same in both the income-tax references but the assessment year is 1972-73 in income-tax reference no. 366 of 1982 and 1970-71 in income-tax reference no. 4 of 1983.2. the assessee is an individual deriving income by way of salary as managing director of the company, toshiba anand batteries ltd. the .....Tag this Judgment!
Court : Gujarat
Reported in : 63ITR1(Guj)
..... messrs. shamji kalidas & company were received by the assessee in the taxable territories and the profit embedded in these sale proceeds was, therefore, liable to tax under section 4(1)(a) of the indian income-tax act. the assessee was also charged penal interest under section 18a(8) in the assessment for the assessment year 1948-49, on the view that the assessee ..... had failed to make payment of advance tax under section 18a(3). now the assessment in respect of the assessment years 1947-48 and 1948-49 ..... initiation of proceedings under section 4(1)(a) was, therefore, not satisfied and he accordingly allowed the appeals and set aside the orders of assessment made by the income-tax officer, porbandar. the income-tax officer, porbandar, being aggrieved by this decision, brought appeals before the tribunal. the tribunal took the view that the order of the appellate assistant commissioner in so far ..... the applications under section 27 was clearly erroneous and it accordingly set aside the whole of the order of the appellate assistant commissioner and confirmed the orders of the income-tax officer rejecting the applications under section 27 and remanded the appeals against the original orders of assessment to the appellate assistant commissioner for hearing the merits. the appellate assistant .....Tag this Judgment!
Court : Mumbai
Reported in : 68ITR388(Bom)
..... 1958-59 the assessee paid rs. 42,480 and the question was whether the payment of that sum was allowable under section 10 of the income-tax act. the supreme court held, reversing the decision of the kerala high court, that the payment under clause 7 of the agreement was in the ..... their own convenience and it had no reference to padamsi or his legal representatives. 32. the decision in ratilal b. daftari v. commissioner of income-tax was next relied upon. that was case where there was, so to say, sub-partnership between one partners and strangers and the share which the ..... supreme court. 22. the sheet-anchor of the argument of mr. kolah was the decision in travancore sugar & chemicals ltd. v. commissioner of income-tax. there the assessee-company was floated to take over the assets of certain undertaking run by the government of travancore, and the promoters entered into an ..... heirs was the purchase price of capital asset, namely, the goodwill. the case vithaldas thakordas and co. v. commissioner of income-tax, therefore, cannot apply here. 20. in commissioner of income-tax v. p. n. ethiraj, it was held that even in cases where a business in partly transferred to another and payment ..... expenditure to the assessee. the payments were for the purchase of the goodwill and could only be treated as capital expenditure. in appeal, the income-tax appellate tribunal has reversed this decision. the reasoning by which they came to the conclusion that the amounts paid to mrs. premlata padamsi were in .....Tag this Judgment!
Court : Mumbai
Reported in : 32ITR677(Bom)
..... made under the proviso to section 13 of the indian income-tax act, the assessee is not liable to be penalised under the provisions of section 28(1)(c) of the indian income-tax ac ?' 2. the short facts are that the assessee made a return of income-tax on the 13th of september, 1951, in respect of ..... states that there was deliberate concealment, which was the finding of the income-tax officer confirmed by the appellate assistant commissioner and the tribunal. 4. the mr. pandit argues that if a penalty is attracted notwithstanding the fact that a ..... question as to whether there was any evidence on which the income-tax authorities could have come to such a conclusion. no such question has been referred to us, and indeed the question referred to us in terms ..... the fact that the return has been subsequently corrected. the question as to whether the omission is deliberate or bona fide is a question for the income-tax authorities to determine, it being a pure question of fact, and it cannot arise for determination by us unless there was a reference on a ..... sales of rs. 40,770 the assessee showed a gross loss of rs. 3,444. the assessee's explanation of this loss did not satisfy the income-tax officer and he suspected that the closing stock of the assessee as shown was not correct. he, therefore, called upon the partner who appeared before .....Tag this Judgment!
Court : Mumbai
Reported in : 33ITR13(Bom)
..... us by the tribunal, and they are : '(1) was the tribunal entitled to compute the gross income from the sales of bicycles and motor-cycles under the proviso to section 13 of the indian income-tax act, even though the gross profits ascertained by reference to the accounts of the assessee were found to ..... be correct (2) were the income-tax authorities right in adding rs. 12,174 paid in respect of sales tax to the income of the assessee even though it ..... cycles the correct profit could be ascertained from the books, notwithstanding the fact that it could not be so ascertained in respect of accessories, the income-tax officer should have accepted the profits so ascertained as his own estimate. now, dealing with the first part of the argument, the proviso to ..... and motor-cycles only and expressed his inability to furnish such details in respect of accessories.he relied upon this for the inference that the income-tax officer found that the gross profits in respect of sales of cycles and motor-cycles only could be correctly ascertained from the accounts. it ..... dealt in motor-cycles, cycles and accessories in the assessment year 1950-51. the accounting year was the year ending 31st december, 1949. the income-tax officer found that the profits and gains could not properly be deduced from the accounts kept by the assessee, applied the proviso to section 13 .....Tag this Judgment!
Court : Mumbai
Reported in : 54ITR518(Bom)
..... rs. 2,34,231 was the income of the assessee ?' 3. in the application made by the assessee requesting the tribunal to make a reference under ..... department, set aside the order of the appellate assistant commissioner and restored that of the income-tax officer. thereafter, at the instance of the assessee it drew up a statement of the case and referred to this court the following question under section 66(1) of the indian income-tax act. 'whether on the facts and in the circumstances of the case the sum of ..... for the parting of the controlling interest. mr. palkhivala, on behalf of the assessee, invited out attention to decisions in commissioner of income-tax v. ramnarain sons ltd, puranmal radhakishan & company v. commissioner of income-tax and baijnath chaturbhuj v. commissioner of income-tax, in support of his submission that whenever a composite price is received for the sale of shares together with other valuable rights ..... to the record. the findings of the appellate assistant commissioner that the sale was motivated by the illness of mulraj kersondas was equally erroneous, because as pointed out by the income-tax tribunal, mulraj mersondas was not suffering from any illness and was actively engaged in business not only at the material time but even prior and subsequent thereto. it will, .....Tag this Judgment!