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“Section 132(5)(iii)”

Section References (mined)Section 132Section 132(5)(iii)3 judgments

COMMISSIONER OF INCOME TAX DEL vs. SRI CHAND GUPTA

ITA - 18 / 2002HC Delhi31 Jul 2015
Section 132Section 132(5)Section 132BSection 154Section 234ASection 260A

determination of liability towards which the seized assets could be applied. He further submitted that the expression “existing liability” as used in Section 132(5)(iii) of the Act would refer to liability which was crystallized or determined under the provisions of the Act. He stated that unless an assessment ... clause (iii) of Section 132(5) of the Act does not arise. Thus, plainly, the reference to an “existing liability” as used in Section 132(5)(iii) of the Act would mean such liability that has already been determined and crystallized such demands outstanding in respect of prior years where

COMMISSIONER OF INCOME TAX vs. USHA RANI GUPTA

ITA - 19 / 2002HC Delhi31 Jul 2015
Section 132Section 132(5)Section 132BSection 154Section 234ASection 260A

determination of liability towards which the seized assets could be applied. He further submitted that the expression “existing liability” as used in Section 132(5)(iii) of the Act would refer to liability which was crystallized or determined under the provisions of the Act. He stated that unless an assessment ... clause (iii) of Section 132(5) of the Act does not arise. Thus, plainly, the reference to an “existing liability” as used in Section 132(5)(iii) of the Act would mean such liability that has already been determined and crystallized such demands outstanding in respect of prior years where

COMMISSIONER OF INCOME TAX DELHI vs. GIAN CHAND GUPTA

ITA - 20 / 2002HC Delhi31 Jul 2015
Section 132Section 132(5)Section 132BSection 154Section 234ASection 260A

determination of liability towards which the seized assets could be applied. He further submitted that the expression “existing liability” as used in Section 132(5)(iii) of the Act would refer to liability which was crystallized or determined under the provisions of the Act. He stated that unless an assessment ... clause (iii) of Section 132(5) of the Act does not arise. Thus, plainly, the reference to an “existing liability” as used in Section 132(5)(iii) of the Act would mean such liability that has already been determined and crystallized such demands outstanding in respect of prior years where