| Case ID |
22bc6df5-e23f-400f-bc77-78dc1ebf6c7d |
| Body |
View case body. Login to View |
| Case Number |
IT REFERENCE No. 131 OF 1976 |
| Decision Date |
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| Hearing Date |
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| Decision |
The court held that the amendment to section 184(7) of the Income-tax Act was not retrospective and did not apply to the assessment year 1970-71. The assessee submitted the required form for continuation of registration after the amendment came into force, but the requirement to submit the form before the expiration of the period for filing the return was not applicable to this case. Consequently, the court affirmed the Tribunal's decision, allowing the continuation of registration. |
| Summary |
In the landmark case under the Income-tax Act of 1961, the Punjab and Haryana High Court analyzed the implications of section 184(7) concerning the continuation of firm registration. The case arose when the Commissioner of Income Tax contested the registration of Waryam Singh & Sons for the assessment year 1970-71, arguing that the firm failed to submit the required Form No. 12 before the prescribed deadline. However, the court found that the amendment to section 184(7) was not applicable retroactively, thus supporting the assessee's position. The judgment emphasized the importance of clarity in tax regulations and the need for fair application of the law, ensuring that taxpayers are not penalized for amendments that they could not have anticipated. This case is significant for tax practitioners and firms seeking to understand their rights under the Income-tax Act. Keywords like 'Income-tax Act', 'section 184(7)', 'firm registration', and 'Punjab and Haryana High Court' are crucial for legal research and SEO optimization. |
| Court |
Punjab and Haryana High Court
|
| Entities Involved |
Not available
|
| Judges |
S.P. Goyal, J.
|
| Lawyers |
D.N. Awasthy,
B.K. Jhingan,
S.S. Mahajan
|
| Petitioners |
Commissioner of Income Tax
|
| Respondents |
Waryam Singh & Sons
|
| Citations |
1982 SLD 1078,
(1982) 136 ITR 92
|
| Other Citations |
Not available
|
| Laws Involved |
Income-tax Act, 1961
|
| Sections |
184(7)
|