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1 - 10 of 10 (0.25 seconds)Section 206C in The Income Tax Act, 1961 [Entire Act]
Section 28 in The Income Tax Act, 1961 [Entire Act]
Section 43C in The Income Tax Act, 1961 [Entire Act]
Finance Act, 1999
Article 14 in Constitution of India [Constitution]
Gian Chand Ashok Kumar And Company And ... vs Union Of India (Uoi) And Ors. on 6 March, 1990
The jurisdictional High Court also examined the applicability of Section 44AC in detail in the case of Gian Chand Ashok Kumar & Co. v. Union of India[1991] 187 ITR 188 (HP). It was held that L-13 licensees came within the purview of the proviso to Section 44AC(1)(a) of the Income-tax Act and the provisions of Section 206C and other parts of Section 44AC(1) did not apply to them.
Sat Pal And Co. vs Excise And Taxation Commissioner And ... on 2 August, 1989
13. Since the Id. counsel for the assessee has stated during the course of hearing that he would not contest the additions made by the Assessing Officer while rejecting the books of account, we do not find it necessary to look into the merits of the various additions made by the Assessing Officer. We, therefore, hold that aplication of the profit rate of 40% under Section 44AC is not appropriate in the light of Sub-section (2) of that section as well as in view of the observations made by the Punjab and Haryana High Court in the case of Sat Pal & Co. (supra). Therefore, in both the appeals, the orders of the CIT(A) are quashed and those of the Assessing Officer are restored.The additions made by the Assessing Officer in both the cases are upheld.
The Income Tax Act, 1961
A. Sanyasi Rao And Anr. vs Government Of Andhra Pradesh And Ors. on 7 March, 1989
8. The Id. counsel has drawn our attention to the decision of the Andhra Pradesh High Court in the case of A. Sanyasi Rao v. Government of Andhra Pradesh [1989] 178 ITR 31. That was a case where the constitutionality of Section 44AC and Section 206C was under attack. It was held that none of the two sections offended Articles 14 and 19(1)(g) of the Constitution. It was observed by the Court that for the sake of convenience and also having regard to the difficulty in making a normal assessment in the case of a liquor dealer, the provisions contained in Section 44AC intended to adopt the purchase price as the measure of tax. Sections 44AC and 206C are anti-evasion measures. Section 44AC did not bar a regular assessment of the business income of the assessee in accordance with Sections 28 to 43C.
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