Judgment Search Results Home > Cases Phrase: aircraft amendment act 2007 section 12 amendment of section 11 Court: income tax appellate tribunal itat mumbai Page 14 of about 352 results (0.120 seconds)

income-tax Officer Vs. Taj Trade and Transport Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1992)41ITD60(Mum.)

..... which the substituted section 80hhc took effect. we are in the present case concerned with assessment year 1983-84 when section 80hhc as it stood before its amendment by the finance act, 1985 with effect from 1-4-1986, was applicable. therefore, we are of the opinion that the benefit of deduction under section 80hhc has to ..... applicable to a case under section 80hhc.12. we may also extract the following observations in the explanatory notes in respect of the proposed amendment of section 80hhc by the finance (no. 2) act, 1991, viz: the issue, whether sale of goods to foreigners in shops or other establishments situated in india is export, has been ..... include any transaction by way of sale or otherwise, in a shop, emporium or any other establishment in india, not involving clearance at any customs station. this amendment will take effect retrospectively from the 1st april 1986, the day on which the substituted section 80hhc took effect. it will accordingly, apply in relation to assessment year .....

Ornamental Trading Enterprises Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)47ITD416(Mum.)

..... contention that the assessing officer was not justified in denying deduction under section 80m by treating the income from dividend as business income, inter alia, because of the amendment in the act w.e.f. 1-4-1955. he also accepted that the assessee was entitled for deduction under section 80m to the extent of 60%. however, he took ..... factor to be considered for ascertaining capital gains. the actual cost had to be compared with the fair market value as on 1-1-1954 (or subsequent dates as amended later) and now there was a scheme of indexing of cost. for these purposes it was necessary to pinpoint a particular share so that these provisions could be made ..... assessing officer was entitled and had a duty to adopt appropriate computation to determine the true income by applying the proviso to section 145(1) of the income-tax act.11. the learned counsel stated in the end that the action of the assessing officer was not only not justifiable but also inconsistent.in this regard our attention was .....

Ramkumar Jalan Vs. Income Tax Officer. (Also Ito V.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... order are bad in law because jurisdiction of the ito levying penalty under s. 271(1)(c) was omitted w.e.f. 1st april, 1976, by the taxation laws (amendment) act, 1975.according to the assessee's counsel, all the assessment years being relating to the previous years, starting after 1st april, 1976, iac had no jurisdiction to impose the ..... october, 1975 till 31st march, 1976, by virtue of the provisions of s. 125a, which were in the following terms."prior to its omission, s. 125a, as amended by the finance (no. 2) act, 1977, w.e.f. 10th july, 1978, stood as under : (1) the cit may, by general or special order in writing, direct that all or ..... issued to him for this guidance by the iac within whose jurisdiction he performs his functions in relation to any particular proceeding or the initiation of any proceeding under this act. provided that no instructions, which are prejudicial to the assessee, shall be issued before an opportunity is given to the assessee to be heard. explanation : for the .....

Birla at and T Communication Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2001)77ITD142(Mum.)

..... realising the difficulties which the assessees were facing where the payment of the fees has been made prior to the setting up of the telecom business, section 35abb was amended by the finance act, 1999, with retrospective effect from 1-4-1996 to provide that irrespective of the fact that the payment of the licence fees had been effected prior to the ..... that the arrears of the claim could also be made in the return filed for the assessment year 1997-98. the section was amended by the finance act, 1999, with retrospective effect from 1-4-1996 and after the amendment, the relevant portion of the section stood as under : "35abb. expenditure for obtaining licence to operate telecommunication services. --(1) in respect of any .....

Deputy Commissioner of Vs. Asian Distributors Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... to someone and there was absolutely no chance of getting it back. whereas, consequent to the decision of the supreme court in nizam's case s. 2(47) of the it act, was amended and w.e.f. 1st april, 1988 the legislature recognised the concept of beneficial ownership of the nature referred to in s. 53a of the transfer of property ..... rival submissions and perused the record as well as the case law cited before us. the case of the ao precisely is that by virtue of the amendment to s. 2(47)(v) of the it act, there is a "transfer" of immovable property in the year under consideration. in order to appreciate as to whether the facts suggest "transfer" of immovable property ..... take place even without transfer of absolute legal right vested in the owner in the wake of amended section i.e. s. 2(47)(v) of the act. after extracting the provisions of s. 53a of the t.p. act and s. 2(47)(v) of the it act, the ao summarised that the following points would decide whether there was a 'transfer' within the .....

Capt. A.L. Fernandes Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)81ITD203(Mum.)

..... not earned in india. in other words, a very strict interpretation was given to the words "earned in india". the amendments were made by the finance act, 1983, w.e.f. 1st april, 1979, by inserting an explanation to declare that the salary payable for services ..... india and is also received outside india is not subjected to tax in india. 2. after the amendment made in section 6 of the it act, 1961 by the finance act, 1990 w.e.f. 1st april, 1990, an indian citizen who is a member of the crew ..... taxability of income which falls within the ambit of section 5 of the it act, 1961. now i may examine the issue from the angle of the amendments to section 9(1)(ii) of the act.section 9(1)(ii) is reproduced as under: 9(1) the ..... this clause payable for service rendered in india shall be regarded as income earned in india." this explanation was inserted by the finance act, 1983 (11 of 1983) with retrospective effect from 1st april, 1979.this explanation deals with the declaratory law. therefore, it falls .....

O.P. Ralhan Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1986)18ITD50(Mum.)

..... .3. the learned counsel for the assessee has pointed out that at least three major mistakes have crept in the order of the tribunal, which require correction and amendment, with consequential result on the appeal itself. it is pointed out that the assessee's claim with regard to the delay was firstly that in the case of ..... tax order.5.1 according to the learned counsel, there was also another serious legal infirmity equally clear from the wealth-tax order under appeal.the wealth-tax act, 1957 ('the act') gives the right to tax the net wealth of an assessee. that is a net amount obtained by reducing from the gross amount a relative deduction. ..... (administration) had been also committed by the tribunals themselves when they mention at paragraph 14 : there can hardly be any dispute that the two remedies provided under the act, viz., a revision petition to the commissioner of wealth-tax and an appeal to the appellate tribunal, are two entirely and distinct remedies and if an assessee chooses .....

income-tax Officer Vs. Jotumal T. Thawani

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1991)36ITD1(Mum.)

..... assessment order under section 143(3) for the assessment year 78-79 made on 22-9-78 requires to be amended as there is a mistake apparent from the record within the meaning of section 154/155 of the income-tax act, 1961. the rectification of the mistake, as per details given below will have the effect of enhancing the assessment ..... assessment order under section 143(3) for the assessment year 78-79 made on 22-9-78 requires to be amended as there is a mistake apparent from the record within the meaning of section 154/155 of the income-tax act, 1961. the rectification of the mistake, as per details given below will have the effect of enhancing the assessment ..... and correctly and in full details, which he did.that apart, as mentioned above, income-tax act being a very complex one, everybody, for that purpose even the experts, cannot be said to know the intricate provisions, more so when there are amendments and amendments very of ten. the central board of direct taxes, vide letter f. no. 8 1/27 .....

Burlingtons' Exports Vs. Assistant Commissioner Of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)45ITD424(Mum.)

..... ) in this connection: it is worthy of note that 'capital gains' were charged for the first time by the income-tax and excess profits tax (amendment) act, 1947, which inserted section 12b in the act. it taxed 'capital gains' arising after the 31st march, 1946 and the levy was virtually abolished by the indian finance ..... of persons, body of individuals, by not treating the distribution as transfer has been deleted consequent upon the amendments being made to section 45 of the act, as aforesaid. similarly, section 49(1)(iii)(b) was amended with regard to the deemed cost of acquisition under the existing provisions where the capital asset becomes the property of ..... of assets is deemed to be the cost for which the previous owner of the property acquired it, subject to certain adjustments regarding improvements, etc. upon the amendments, the provisions will apply only if the dissolution takes place any time before 1st april, 1987.16. with this background, let us see the applicability of section .....

Rupal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1994)49ITD484(Mum.)

..... 32.20 of the cbdt circular reproduced above.12. in the case of jamshedpur motor accessories stores (supra), the patna high court was considering the amendment to section 43b, by the finance act, 1987, with effect from 1-4-1988. in this connection, it was held that the rule of reasonable construction should be followed and literal construction ..... 1987-88 whereas the matter before us relates to assessment year 1986-87.6. the learned counsel for the assessee submitted before us further that the above retrospective amendment had been made in order to remove an anomaly as was clear from the following extract from cbdt circular no. 621, dated 19th december, 1991, containing explanatory ..... officer not to deduct theame. in this regard, we have also noted that the order under section 263 of the act was passed on 30-12-1988 when the benefit of the amendment brought by the finance (no. 2) act, 1991, mentioned above, was not available to the commissioner.13. for the above reasons, we vacate the order of .....