Whether exercise of suo-motu power under
sub- section 4 of Section 50B of the Act
has to be within the reasonable period
under ... issued by the Tehsildar exercising
suo-motu power under sub-Section (4) of Section 50B of the Act,
some parties filed civil revision petitions
words "at any time" in Sub-section (4) of Section 50B of the Act only indicates that no specific period of limitation ... moto powers is to be exercised. In Sub-section (4) of Section 50B of the Act, the words "at any time" are used
long term capital gain. Neither the provisions of Section 50 nor
the provisions of Section 50B shall be attracted in the present
matter. Rather provisions ... authorities and hold that neither the
provisions of section 50 nor the provisions of section 50B
shall be attracted in the present matter. Rather
situation it is evident that prior to the insertion of
Section 50B into the provisions of the Income Tax Act, 1961 in a case
such ... 2013 18:09:04 :::
14
thirty-six months. Sub-section (2) of Section 50B provides that in
such case the net worth of the undertaking
constitute “slump sale” as per
Section 2(42C) of the Act and hence the provisions of Section 50B will
not be applicable. The Revenue preferred ... constitute “slump sale” as per Section
2(42C) of the Act and hence provisions of Section 50B will not be
applicable. The same grounds have
Whether exercise of suo-motu power under
sub- section 4 of Section 50B of the Act
has to be within the reasonable period
under ... issued by the Tehsildar exercising
suo-motu power under sub-Section (4) of Section 50B of the Act,
some parties filed civil revision petitions
place without following the
procedure prescribed under Sections 47 and 48 of the Tenancy
Act. Section 50B of the Tenancy Amendment Act empowers the
Tahsildar ... from time to time till
March 31, 1972. Under sub-section (2) Section 50B, the
Tahsildar shall hold an enquiry and shall issue a certificate
slump sale falling under
Section 2(42C) of the Act assessable under Section 50B of the Act
which came into force with effect from ... sale of
such assets. However, after the introduction of Section 2(42C) and
Section 50B, slump sale has to be assessed strictily in accordance
with
amount of relief to which the accountable person was entitled under Section 50B of the Estate Duty Act, 1953. The Tribunal having held in favour ... expression that is used in several other sections of the Act. They must bear uniform meaning. Section 50B of the Estate Duty Act refers
facts and in the circumstances of the case, the refund under Section 50B of the Estate Duty Act, 1953, not having been determined on each ... herein) were allowed a refund of Rs. 3,15,287 under Section 50B of the Estate Duty Act.
3. The Wealth-tax Officer took
