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Showing 61 to 67 of 67 Records
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1972 (12) TMI 7 - MADRAS HIGH COURT
In these two writ petitions the constitutional validity of section 140A(3) of the Income-tax Act, 1961 is challenged - Whether the provisions of Income-tax Act provided for levy of penalty for non-payment of self assessment tax violate provisions of article 19(1)(f) of the Constitution
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1972 (12) TMI 6 - PUNJAB AND HARYANA HIGH COURT
Reassessment proceedings - Surrender by the assessee of some debts in reassessment proceedings - whether such surrender is enough to initiate penalty proceedings - held that there may be hundred reasons for the assessee to surrender the amount irrespective of the fact whether it was his income or not and it was incumbent for the Income-tax Officer to find on evidence that the amount surrendered represented the income of the assessee. As a result of the above discussion, we are clearly of the view that, on the facts and circumstances of this case, the order imposing penalty was not justified
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1972 (12) TMI 5 - SUPREME COURT
Whether Tribunal, having held that the transaction was an adventure in the nature of trade, is correct in law in holding that the profits made by the assessee by the sale of a part of the land is not ascertainable on the date of the sale - question of law set out in the application of the department did arise for consideration of the High Court and the High Court should have directed the Tribunal to submit that question for its opinion
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1972 (12) TMI 4 - SUPREME COURT
Contention that the finding of the Tribunal in this case that the finding given by the Appellate Assistant Commissioner at the earlier stage is a finding necessary for the disposal of the case, is a finding of fact and, therefore, the HC could not have interfered with that finding - no such contention was taken up before the HC or in the memorandum of appeal - conclusion of the Tribunal as to the scope of the Appellate Asst. Commissioner's finding is not a finding of fact but one of law
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1972 (12) TMI 3 - SUPREME COURT
Whether it was incumbent on the part of the assessee to have divided the profits of the previous year before it made its application for renewal of the registration certificate - Held, yes
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1972 (12) TMI 2 - SUPREME COURT
Reopening of assessment - notice u/s 34(1) - validity - there was no any relevant material before the Income-tax Officer before he issued the notices under section 34(1)(a) to have reason to believe that as a result of the assessee's failure to state in its return truly and fully any fact, any income had escaped assessment
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1972 (12) TMI 1 - SUPREME COURT
Whether the tax paid by the assessee-company on the tea-garden lands under the U.P.LargeLand Holdings Tax Act, 1957 (U.P. Act XXXI of 1957), is liable to be deducted u/s 10(2)(xv) - question referred to the HC is answered in favour of the assessees. In other words, the answer to the question is that the tax paid under the U.P.LargeLand Holdings Tax Act, 1957, is an admissible deduction from the taxable income of the assesse-companies
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