Court : Punjab and Haryana
Decided on : Nov-22-1988
Reported in : (1989)78CTR(P& H)1; 178ITR680(P& H)
..... .2. in penalty proceedings, the income-tax officer levied penalty and his order was confirmed in appeal by the appellate assistant commissioner. on further appeal to the ..... , i.e., september 30, 1970, was crucial for finding out the law applicable and at that time, according to the unamended provision of section 274(2) of the act, the jurisdiction of the income-tax officer to levy penalty extended only up to rs. 1,000 and, therefore, the order levying penalty exceeding rs. 1,000 was without jurisdiction. in support of the ..... assessment for the year 1970-71, the income-tax officer added the cost of toria pledged by the assessee with the shahukara bank of the value of rs. 15,360 as incomeof the assessee from undisclosed sources and proceedings for levy ofpenalty were initiated under section 271(1)(c) of the income-tax act,1961 (for short 'the act'). the assessee remained unsuccessful inthe quantum appeal ..... to levy the penalty as it exceeded rs. 1,000, according to the law prevailing at that time. section 274(2) of the act was amended with effect from april 1, 1976, and the jurisdiction of the income-tax officer to levy penalty was enhanced from rs. 1,000 to rs. 25,000. the stand of the assessee was that the date of .....Tag this Judgment!
Court : Supreme Court of India
Decided on : May-04-1988
Reported in : (1988)2CompLJ157(SC); (1988)70CTR(SC)28; [1988(172)FLR257]; 172ITR257(SC); JT1988(2)SC287; 1988(1)SCALE829; 1988Supp(1)SCC378; 1988(Supp)SCC378; 3SCR917; 
..... expenditure. the only ground on which the claim of the assessee for deduction of the said expenditure under section 10(2)(xv) of the indian income-tax act was resisted that it was capital expenditure. after exhaustively considering several decisions of the supreme court and several english decisions, the division bench of the ..... against which the appeal is directed was rendered on a reference under section 66(1) of the indian income-tax act, 1922. the question referred to the court for consideration was as follows:whether on the facts and in the circumstances of the case, the expenditure of ..... is an appeal, on a certificate given under section 66(a)(ii) of the indian income-tax act, 1922, against a judgment and order of a division bench of the bombay high court. the appeal is preferred by the commissioner of income-tax and the assessee, the associated cement companies ltd. is the respondent.2. the judgment ..... of a composite sum of the revenue outgoings for the following 15 years. the revenue preferred an appeal to the income-tax appellate tribunal. the income-tax appellate tribunal passed an order directing the income-tax officer to scrutinize the expenditure and allowed the deduction of the expenditure to the extent that it did not result in ..... case the expenditure is clearly liable to be allowed as deductible from the profits under section 10(2)(xv) of the indian income-tax act. in the result, the appeal fails and is dismissed with costs. .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Sep-05-1988
Reported in : AIR1988SC2057; AIR1988SC2057a; (1988)3CompLJ174(SC); (1988)72CTR(SC)217; 174ITR160(SC); JT1988(3)SC566; 1988(2)SCALE654; (1988)4SCC221a; Supp2SCR814
..... 79 must apply for disentitling the loss of a prior year being allowed as set off in accordance with the substantive provisions of section 79 of the income-tax act, 1961?5. the high court answered the question in favour of the assessee. holding that even if a change in the voting power of not less ..... was entitled to the benefit of carrying forward that loss for the purpose of computing its assessable profits for that assessment year. the income-tax officer held that section 79 of the income-tax act, 1961 disentitled the assessee from claiming such a set off. he said that 51% of the voting power held by persons ..... decided by the tribunal before the claim for a set off could be finally disposed of. and now this appeal.6. chapter vi of the income-tax act, 1961 contains a number of provisions entitling the assessee to the carry forward and set off of a loss suffered by him. section 70 provides ..... pathak, c.j.1. this appeal by special leave is directed against the judgment of the bombay high court construing the provisions of section 79 of the income-tax act, 1961 in favour of the assessee.2. three private limited companies, the italindia cotton co. (p) ltd., who is the assessee before us, the india ..... in chapter vi for the carry forward and setting off of a loss incurred in any earlier year against the income of the relevant previous year. the provision was enacted in the income-tax act 1961 for the first time in order to deny that benefit to companies not being companies in which the public .....Tag this Judgment!
Court : Delhi
Decided on : Aug-05-1988
Reported in : ILR1988Delhi1
..... the payment on or before march 24, 1988, and show proof of payment on march 25, 1988. notice under section 221(1) of the income-tax act, is enclosed herewith.' 5. along with this order, the income-tax officer sent a notice, copy exhibit 'g', to the petitioner to show cause why penalty should not be levied under section 221(1) of the ..... connection, your attention is drawn to the explanationn to section 209a of the income-tax act, according to which 'current income' means the total income as defined in section 2(45) of the income-tax act. according to section 2(45), the total income means total amount of income computed in the manner laid down in this act (including section 115j). you are, thereforee, requested to make the payment ..... , it will be proper if we briefly notice the various relevant provisions contained in the income tax act relating to the payment of advance tax. these provisions appear in part 'c' of chapter xvii of the income tax act, 1961 (hereinafter referred to as 'the act'). section 20. provides that tax shall be payable in advance in accordance with the provisions of sections 208 to 219 in ..... the case of income except certain incomes mentioned therein. under section 208, advance tax is payable by a company if its income exceeds rs. 2,500. section 209 provides .....Tag this Judgment!
Court : Delhi
Decided on : Aug-05-1988
Reported in : 36(1988)DLT54
..... parties it will be proper if we briefly notice the various relevant provisions contained in the income tax act relating to the payment of the advance tax. these provisions appear in part 'c' of chapter xvii of the income tax act, 1962 (hereinafter referred to as 'the act'). section 207 provides that tax shall be payable in advance in accordance with the provisions of sections 208 to 219 in ..... income exceeds rs. 2,500.00 . 'section 209 provides ..... case of income except certain incomes mentioned therein. under section 208 advance tax is payable by a company if its ..... 'make the payment on or before 24-3-88, and show proof of payment on 25-3-88. notice u/s 221(1) of the i.t. act is enclosed herewith.'along with this order the income tax officer sent a notice, copy exhibit 'g', to the petitioner to show cause why penalty should not be levied under section 221(1) of the .....Tag this Judgment!
Court : Kerala
Decided on : Feb-23-1988
Reported in : 189ITR672(Ker)
..... fact that it is only shown for facility for greater credit. that is why those authorities did not ask for the explanation of the assessee under section 69a of the income-tax act, 1961, to show the source for these alleged investments of raw nuts and kernels in trust, etc. it is only before the tribunal that the department has raised a ground ..... in paragraph 13 of the original petition.8. the only other question is whether the assessee is entitled to weighted deduction under section 35b of the income-tax act on office and other miscellaneous expenses. the commissioner of income-tax (appeals) allowed weighted deduction in the light of the special bench decision of the tribunal in the case of j. hemchand and co., which was ..... ) ? 4. whether, on the facts and in the circumstances of the case, the assessee is entitled to weighted deduction under section 35b of the income-tax act on office and other miscellaneous expenses ? 5. whether, on the facts and in the circumstances of the case, and in view of the finding that the addition/enhancement is based ..... both these original petitions. the same assessee is the respondent in both the cases. the matter arises under the income-tax act. both the original petitions relate to the assessment year 1979-80. in these two original petitions filed under section 256(2) of the income-tax act, the revenue prays that the appellate tribunal may be directed to refer the questions of law, formulated in .....Tag this Judgment!
Court : Kerala
Decided on : Sep-29-1988
Reported in : (1989)76CTR(Ker)114; 176ITR198(Ker)
..... sukumaran, j. 1. a common question is involved in these nine writ petitions. it relates to the interpretation of section 273a of the income-tax act, 1961, and, in particular, the scope and ambit of explanation 2 thereof. 2. three firms and their partners are involved as ..... . soon thereafter, the firms filed a petition, exhibit p-1 dated february 4, 1985, under section 273a of the act. similar petitions have been filed by the partners also. the income-tax officer passed orders on march 3, 1987. the contention of the assessees in relation to the waiver of penalty andinterest was ..... ) and (c), co-operated in any enquiry relating to the assessment of his income and has either paid or made satisfactory arrangements for the payment of any tax or interest payable in consequence of an order passed under this act in respect of the relevant assessment year. explanation 1.--for the purposes of this ..... sub-section, a person shall be deemed to have made full and true disclosure of his income or of the particulars ..... be satisfactorily explained ; some were cases where the return was filed at the instance of, but not due to any inducement or compulsion, from the income-tax officer. 13. counsel for the petitioners submitted that when a full disclosure is made in the revised return, the commissioner is well within a compulsive .....Tag this Judgment!
Court : Kerala
Decided on : Dec-21-1988
Reported in : (1989)76CTR(Ker)62; 176ITR508(Ker)
..... the date the collector has taken possession of land compulsorily acquired is interest paid for the delayed payment of the compensation and is, therefore, a revenue receipt liable to tax under the income-tax act.' 12. the principle underlying the award of interest is that the party is compensated for keeping back the amount due and payable to him. it retains the profit the ..... sum. under section 199, the deduction made and paid to the government is treated as payment on behalf of the person who earned the income. 10. it could be thus seen that chapter xvii of the income-tax act empowers the collection of tax on income earned at the time of the receipt itself, whereas the provisions contained under sections 202 - 213 are for paying the ..... petition raises the question as to the liability of the central government to pay interest to assessees under the provisions of the income-tax act, 1961, on the difference between the aggregate of the income-tax deducted at source under the provisions of sections 193, 194 and 194a of the act and paid to the credit of the central government under section 200 of the said ..... tax in advance before the income is actually received and during the year the income is accruing. this payment in advance is on estimate. to safeguard the .....Tag this Judgment!
Court : Kerala
Decided on : Feb-02-1988
Reported in : (1988)71CTR(Ker)1; 172ITR733(Ker)
..... was right in holding that the assessment order had totally merged in the order of the appellate assistant commissioner and that consequently the order by the commissioner of income-tax under section 263 of the income-tax act, 1961, is not legally sustainable ?'2. in respect of the assessment year 1977-78, relevant to the accounting period ending on december 31, 1976, the commissioner ..... karsandas bhagwandas patel v. g.v. shah, ito : 98itr255(guj) considered the scope of merger in the context of section 35 of the indian income-tax act, 1922, and held that the order of the income-tax officer was available for rectification by him even after the decision of the appellate authority in regard to matters which had not been dealt with by ..... of income-tax (the 'commissioner') in exercise of his power under section 263 of the income-tax act, 1961, revised the order of assessment, although that order had been already appealed against by the assessee and the appeal had been allowed by ..... of the appellate authority, section 263 cannot operate. the scope of sections 33b and 33a of the indian income-tax act, 1922 (the 'old act'), which, in scope, are identical respectively to sections 263 and 264 of the present act was considered by the supreme court in cit v. amritlal bhogilal & co. : 34itr130(sc) . the supreme court stated (pp. 139 and 140):'the .....Tag this Judgment!
Court : Gujarat
Decided on : Oct-14-1988
Reported in : (1989)76CTR(Guj)201; (1989)1GLR181; 177ITR425(Guj)
..... for quashing the complaints. 2. lengthy arguments were advances by senior counsel appearing for the rival sides but it appears that what would be punishable under section 276c of the income-tax act would be dishonest intention or a mala fide intention and there should be mens rea for committing a particular crime before an assessee can be prosecuted. all bona fide mistakes ..... , this particular reimbursement made by the insurance company was not reflected with the result that the income-tax officer, while making the assessment, found that there was an attempt to conceal income and reap an advantage by claiming deduction, therefore, proceedings were started under section 276 of the income-tax act as well as also under the provisions of the indian penal code. the petitioners being ..... impunity because this loss of rs. 1,00,112 would have been definitely found out in the next year's opening stock and with the enormous powers with which the income-tax officers are armed for reopening the previous year's assessment, this would certainly have been found out. so, ultimately, it would not have resulted in any advantage to the assessee ..... made by an assessee while filling in the income-tax return forms would not necessarily amount to an intention to commit a crime and if section 276c were to be used for penalising every delinquent assessee on that score, it .....Tag this Judgment!