Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 24 amendment of section 31 Sorted by: old Court: income tax appellate tribunal itat mumbai Year: 1995 Page 1 of about 4 results (0.185 seconds)

Ramparshad Mehra Family Trust Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1995)53ITD425(Mum.)

..... provided that where such assessee is a firm . . . the deduction under this section shall not be allowed in the computation of the income of any partner. ...the language of the amendment, as it stands, has given rise to the present controversy before us and we have to interpret the same. it is the assessee's case that the assessee is not ..... a partner in respect of the income derived from the business carried on by the firm. since this was not the intention it was sought to be clarified by finance act, 1987 that deduction under section 32ab shall be allowed only in the assessment of the firm and not in the hands of the partner in respect of the income ..... claim. the fact that the firm had not claimed any deduction under section 32ab was irrelevant.4. in our opinion, the claim of the assessee cannot be accepted. the finance act, 1986 introduced section 32ab relating to investment deposit account. the provisions apply in relation to a.y. 1987-88 and subsequent years up to and including a.y. 1990- .....

Nathani Steels Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)57ITD584(Mum.)

..... the keeping of records of depreciation already availed of by each asset eligible for depreciation. in order to simplify the existing cumbersome provisions, the amending act has introduced a system 'of allowing depreciation on block of assets. this will mean the calculation of lump sum amount of depreciation for the entire block ..... high court reported as khimji visram & sons (gujarat) (p.) ltd v. cit [1995] 79 taxman 112. regarding the last contention his submission is that after the amendment w.e.f. 1 -4-1988, a new concept has been introduced.according to him, the depreciation is to be allowed on plant and machineries forming part of block ..... the installation of plant and machineries itself shows that the building was used for the purpose of business, (iv) that after the amendment w.e.f. 1-4-1988 by the taxation laws (amendment and miscellaneous provisions) act, 1986, in section 32 by introducing the concept of block of assets, the condition of user is not necessary for claiming the .....

Cadell Weaving Mill Co. Pvt. Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... and for that purpose an amendment was introduced in section 55(2)(a). the memo explaining clause 18 of the finance bill which is extracted above clearly shows that it is intended to overcome the ..... from 1st april, 1995, and will, accordingly, apply in relation to the assessment year 1995-96 and subsequent years." (clause 18).47. on the basis of this amendment, learned counsel for the assessee contended that the legislature for the first time intended to bring capital gains tax on surrender of tenancy rights only from april 1, 1995, ..... 51 it0 608 (bom).45. the contention of the assessee was that section 10 of the income-tax act is not a charging section. it only deals with exemptions. according to the assessee, an amendment was introduced in section 55(2) of the finance act, 1994, with effect from april 1, 1995, and it is as follows : (a) in relation to .....

Trustees of Parsi Panchayat Funds Vs. Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)57ITD328(Mum.)

..... unambiguous, they must be accepted as declaring the express intention of the legislation. .the departmental representative contended that the amendment including the revision of an order of assessment framed on the directions under section 144a of the act has to be construed in its true perspective and should not be broken up as suggested by the learned counsels ..... his mind and therefore, that portion of the order based on the direction of ddit under section 144a of the act, could not be revised under section 263.according to the counsel the amendment to section 263 of the act which permits revision of orders that are made in pursuance to the directions under section 144a of the ..... the order did not deal with the provisions of section 11 (4a) of the act and therefore, error did creep in the order of assessing officer.the contention of the learned counsel for the assessee that the amendment to section 263 of the act permitting revision of orders has to be limited to that portion of the order .....