Income Tax Act, 1961, Section 147 -- Undisclosed income - Assessment - Limitation - Availability of limitation period would be 16 years since the assessee has derived income from a foreign entity - Notice - There is nothing in the reasons to indicate that the revenue was intending to apply the extended period of 16 years - Assessee must be put to notice of all the..........
Income Tax Act, 1961, Section 143(1A) -- Demand of additional tax - S.143(1-A) of the Act, can only be invoked when lesser amount stated in return filed by assessee is a result of an attempt to evade tax lawfully payable by assessee - Claim of 100% depreciation by assessee, 25% of which was disallowed was not with intend to evade tax - Provision of S.143(1-A) of the Act,..........
Income Tax Act, 1961, Rule 2, 16 -- Sch.II - Loan - Recovery of dues - Attachment of property by Income Tax department - Recovery proceedings initiated against respondent by Bank for non-payment of loan amount - Property was attached prior to issuance of notice by Income Tax Officer - Sale of property though conducted after issuance of notice as well attachment order..........
Income Tax Act, 1961, Section 801(A) -- Assessment - Claim for deduction - Agreement was initially executed between partnership firm and State government for construction of road and collection of toll tax - However, partnership firm converted into a company before inauguration of road - Name of company in agreement so executed recorded recognizing change - Further State..........
Income Tax Act, 1961, Section 115O -- Income tax - Buy back shares - Show cause notice - Appellant contended that they never put to notice whether it would be liable u/s 115-O of the Act - However, department willing to treat communication dated 2018 as a show cause notice and appellant filed an affidavit of undertaking to withdrawn proceedings initiated before Authority..........
Negotiable Instruments Act, 1881, Section 138, 139 -- Dishonour of cheque - Presumption - When legal presumption is available in favour of complainant which is not rebutted, no corroboration is required to version of complainant by submitting income tax return...........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Non-filing of income tax return - Matter related to income tax is issue between Revenue and Assessee, therefore, no, filing of income tax return cannot be a solitary basis for rejecting evidence of complainant...........
Negotiable Instruments Act, 1881, Section 138, 139 -- Dishonour of cheque - Presumption - Accused did not give reply to notice issued to him - It is not a case of accused that he has not signed the cheque - Though no account register or income tax return was produced by complainant, but when accused himself has not denied borrowing money and did not enter into witness box,..........
Delhi Rent Control Act, 1958, Section 14(1)(e) -- Eviction petition - Bonafide necessity - Paucity of accommodation - Mere fact that sons of landlord are earning and income tax returns are showing income more than partnership firm has been generating is also no ground for denying eviction especially, when one of the ground pleaded by landlord is paucity of accommodation..........
Negotiable Instruments Act, 1881, Section 138, Criminal Procedure Code, 1973, Section 311 -- Dishonour of cheque - Production of Income Tax Returns - Loan - Complainant stating that repayment made was towards interest whereas plea of accused that he was paying instalments towards the principal amount and not towards interest - Plea that ITRs for the relevant period do not..........
