Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Jan-29-1982
Reported in : (1982)1ITD244(Mum.)
..... ) and inclusion of amounts as unrealised outstandings in the case of professionals maintaining accounts under the cash system were rendered with reference to the provisions of the act before the amendment to section 7(2)(a) by which the adjustments to the valuation of business assets were prescribed by rules. these rules, as already pointed out, circumscribe ..... tax the value of outstanding fees due to a person in respect of services rendered by him as a legal practitioner within the meaning of the advocates act, 1961. this amendment takes effect from 1-4-1975 and applies to the assessment year 1975-76 and subsequent years.20. but in the decision of the calcutta high ..... high court in cit v. godavari devi [1978] 113 itr 617, the karnataka high court decision being the only direct decision with reference to the amended provisions of the act and there being no other contrary decision, we must follow and apply the law laid down in the karnataka high court decision.38. the principles stated above .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : May-24-1982
Reported in : (1982)1ITD1031(Mum.)
..... return of income on 27-11-1976. a draft assessment order was served on the assessee on 30-3-1979 under section 144b of the income-tax act, 1961 ("the act"). since there was variation in the income returned and the income proposed to be assessed by more than a lakh of rupees, the assessee by its ..... the time.however, no objections were filed by the assessee. the ito, therefore, completed the assessment under section 144b(3), read with section 143(3) of the act. the assessee filed an appeal before the commissioner (appeals) and inasmuch as objections against the assessment were accepted, the revenue has come up in appeal before the tribunal. ..... tax cases. this is what has been stated by the finance minister while introducing the amendment by way of section 144b. when finally the amendment came into statute book, the relevant provisions of the section reads as follows : 144b. (1) notwithstanding anything contained in this act, where, in an assessment to be made under sub-section (3) of section .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Nov-04-1982
Reported in : (1983)3ITD418(Mum.)
..... the order under section 256(2) of the high court have no bearing on the issue before us. this is quite apart from the fact that section 57 has been amended with effect from 1-6-1976 as a result of which the provisions of section 57(1) or section 57(3) are not applicable to non-resident foreign assessees ..... -resident foreigner. provisions of section 57(i) and (iii) are, admittedly, not applicable especially for this year because of the amendment of the section with effect from 1-6-1976. according to him, section 5(2)(b) of the act is applicable in the case of the assessee and is very clear as to its contents. the income by way of ..... commissioner (appeals) through inadvertence, omitted to deal with one or two other grounds in his appellate order.the assessee filed an application under section 154 of the income-tax act, 1961 ('the act'), which was disposed of by the commissioner (appeals) by his order dated 20-3-1980. the assessee has, thus, filed two appeals against the aforesaid two orders of .....
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