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1 - 10 of 10 (0.41 seconds)Section 144 in The Income Tax Act, 1961 [Entire Act]
Section 23 in The Income Tax Act, 1961 [Entire Act]
Section 246A in The Income Tax Act, 1961 [Entire Act]
Section 153B in The Income Tax Act, 1961 [Entire Act]
Section 153A in The Income Tax Act, 1961 [Entire Act]
Section 69C in The Income Tax Act, 1961 [Entire Act]
Income Tax Officer vs Ch. Atchaiah on 11 December, 1995
In this connection, we are
inclined to refer the judgement of the Hon'ble Supreme Court in the case of
ITO v. Ch. Atchaiah [1996] 218 ITR 239/84 Taxman 630 (SC), has observed
that "The Income Tax Officer can, and he must, tax the right person and the
right person alone. By 'right person' is meant person who is liable to be taxed,
according to law, with respect to a particular income." In the case of hand, the
exclusive ownership of the land was vested with the society and the revenue
has not disputed the same. The entire basis of the revenue was thatthe
consideration received upon the sale of the land was adjusted against the
loan taken by the individual and therefore the same should be taxed in the
hand is of such individuals after ignoring the fact that the land in dispute was
owned by the society.
Section 276CC in The Income Tax Act, 1961 [Entire Act]
Section 132 in The Income Tax Act, 1961 [Entire Act]
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