Law:

Section:

Section 150 of the Income-tax Act, 1961 - Income escaping assessment - In pursuance of an order on appeal, etc. - Assessment years 1989-90 to 1994-95 and 1998-99 - Whether where assessment proceeding against assessee was being taken in pursuance of an award regarding compensation by Supreme Court under Land Acquisition Act, it was to be held that assessee's case was covered within meaning of section 150(1) and, therefore, there was no limitation for issue of a notice seeking to initiate assessment proceedings - Held, yes Section 151 of the Income-tax Act, 1961 - Income escaping assessment - Sanction for issue of notice - Assessment years 1989-90 to 1994-95 and 1998-99 - Whether section 151 does not provide for notice to be issued by Joint Commissioner, rather it only provides that Joint Commissioner should be satisfied on reasons recorded by Assessing Officer and, therefore, if Joint Commissioner is satisfied on reasons recorded by Assessing Officer, then notice can be issued by Assessing Officer - Held, yes Section 151, read with section 2(28C), of the Income-tax Act, 1961 - Income escaping assessment - Sanction for issue of notice - Assessment years 1989-90 to 1994-95 and 1998-99 - Whether for purpose of sanction for issue of notice, term 'Joint Commissioner' includes 'Additional Commissioner' as well - Held, yes Section 151, read with section 150, of the Income-tax Act, 1961 - Income escaping assessment - Sanction for issue of notice - Assessment years 1989-90 to 1994-95 and 1998-99 - Whether section 151 applies to cases covered by section 150 - Held, yes FACTS The assessee's land was acquired by the Meerut Development Authority (the MDA) under the Land Acquisition Act in the year 1987. The Special Land Acquisition Officer, (the SLAO) made an award on 22-2-1990. He awarded Rs. 50 per square yard. In pursuance of the award, the assessee of received Rs. 21,26,757 as compensation on 30-6-1990. The assessee filed an application under section 18 of the Land Acquisition Act for referring the matter to the District Court for enhancement of compensation. The case was referred and the reference was allowed on 11-5-1992. The Third Addl. District Judge enhanced the…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492