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NagIn Das M. Goradia Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)83TTJ(Mum.)151

..... phrase "relatable to such evidence" has been added, so that "other materials or information" be related to evidence found as a result of search. the amended law, therefore, recognises that post search enquiries unrelated to evidence obtained as a result of search cannot be the basis for block assessment. the methodology to compute ..... and this view is a fortiori, evident from the addition of the words "and, relatable to such evidence" in section 158bb(1) by virtue of the latest amendment). such assessment, if assessable, can only be the subject-matter of regular assessment or reassessment, if within permissible jurisdiction and time-limit.20. if, au contraire, ..... available with the ao and relatable to such evidence. this is as provided under the amended provisions of section 158bb(1), such amendment having been made applicable retrospectively w.e.f. 1st july, 1995, by the finance act, 2002. before the said amendment, section 158bb(1) read: "158bb(1)--the undisclosed income of the block period .....

Indian Institute of Human Resources Development Represented by Its Fou ...

Court : Chennai

Reported in : (1992)2MLJ168

..... r.m.d. chamarbaguwala : [1957]1scr874 , upheld the validity of the bombay lotteries and prize competition control and tax act, 1948 (bom.liv of 1948) as amended by the bombay lotteries and prize competition control and tax (amendment) act (bombay act xxx of 1952). one of the questions raised was whether gambling was business or trade or commerce within ..... right of hare management of an educational institution does not amount to infringement of right to property under article 19(1)(f) as it existed before amendment act incidentally said:the word property' in article 19(1)(f) must doubtless be extended to all those recognised types of interest which have the insignia ..... was dealing with some provisions of the bombay lotteries and prize competitions control and tax act and was mainly concerned with the definition of 'prize competition' in the said act which was sandwitched in between gambling on the one hand and announcement of prize competition on the other hand. we are also aware of the other .....

K Thirumalesh Vs. State of Karnataka

Court : Karnataka

..... a. rights of existing concessions holders and applicants.-(1) all applications received prior to the date of commencement of the mines and minerals (development and regulation) (amendment) act, 2015, shall become ineligible. (2) without prejudice to sub-section (1), the following shall remain eligible on and from the date of commencement of ..... , non-capricious and non-biased. it should not be tainted by either favouritism or nepotism and should promote healthy competition and equal treatment amongst applicants.4. section 15 of the mmdr act empowers the state governments to make rules for the grant of mineral concessions for minor minerals. the principles laid down ..... appropriate to bear in mind two well-established principles. the first is that while provision of a 11 (2012) 9 supreme court cases 552 12 (2007) 11 scc44713 (1976) 2 scc917195 statute dealing merely with matters of procedure may properly unless that construction be textually inadmissible, have retrospective effect attributed to .....

The Chamber of Tax Consultants & Anr vs.union of India & Ors

Court : Delhi

..... instructions as observed by the supreme court in harivanshlal mehra v. state of maharasthra air1971sc1130 101. in order to preserve its constitutionality, section 145 (2) of the act as amended is required to and is hereby read down to restrict power of the central government to notify icds that do not seek to override binding judicial proceedings or provisions ..... are required to be computed as per the icds notified by the central government in exercise of the power delegated to it under section 145 (2) of the act as amended. for this purpose it is necessary to look at each of the icds which are contrary to or seek to overcome binding judicial precedents.46. there are ten ..... ) (to be known as ind-as) in the initial year of adoption and wp (c) 5595/2017 page 6 of 53 thereafter; and (iii) to suggest appropriate amendments to the act in view of transition to ind-as regime.13. the aforementioned committee examined 31 ass issued by the icai. the committee drafted 14 tax ass and recommended that the .....

indo Marine Agencies (Kerala) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1995)51TTJ(Coch.)18

..... financial year 1987-88. let it be also assumed that the company had suffered losses after charging depreciation in its accounts from the commencement of the companies (amendment) act, 1960, except in relation to the financial years 1983-84, 1985-86 and 1986-87. in such an event, if the company desires to declare dividends ..... : (a) if the company has not provided for depreciation for any previous financial year or years which falls or fall after the commencement of the companies (amendment) act, 1960 (65 of 1960), it shall, before declaring or paying dividend for any financial year provide for such depreciation out of the profits of that financial year ..... amount of depreciation whichever is less in respect of the years in which the loss was incurred, if those years fell after the commencement of the companies (amendment) act, should be taken into account for adjustment against the profits of the impugned assessment year and there is no justification to start the computation from the asst. .....

The Secretary, Regional Transport Authority, Guntur and Another Etc. V ...

Court : Andhra Pradesh

Reported in : AIR1991AP11

..... applicants without any upper limit. the supreme court held that these notifications were inconsistent with the limitations as to number of permits introduced afresh by the u.p. amending act, 1976 and were bad. their lordships referred to the earlier judgment in hans rajkehar v. state of u.p. : [1975]2scr916 and said that the ..... (para 49):'.......the result of the exercise of discretionary powers, in his (existing licence) favour, will, on balance, be against public policy. it will eliminate healthy competition in this business which is so essential to raise commercial morality; it will tend to perpetuate the appellant's monopoly of cinema * business in the town, and above ..... the contention was rejected by the supreme court holding that if other persons were also allowed the right to carry on the same occupation and an element of competition was introduced in the business, that did not amount to violation of fundamental right guaranteed under article 19(1)(g). in another case in nagar rice .....

Koer Durag Pal Singh Vs. Th. Pancham Singh and ors.

Court : Allahabad

Reported in : AIR1939All403

..... say complete code in themselves and those which did not. the i legislature then in the year 1922 set the controversy at rest by amending section 29 of the act of 1908 by the amending act 10 of 1922. by the amendment it was provided that:.and for the purpose of determining any period of limitation prescribed for any suit, appeal or application by any ..... law. it might be mentioned that in the above-mentioned case, section 12, limitation act, was applied to the provincial insolvency act. it is true that section 29, limitation act, was amended by the limitation amendment act, 10 of 1922, and now only some of the general provisions of the limitation act, namely sections 4, 9 to 18 and section 22 apply to special and local laws .....

Sercon Private Limited Vs. Asstt. Commissioner of Income Tax

Court : Gujarat

Reported in : (2008)218CTR(Guj)479

..... term in respect of long term capital gains was allowed not by way of deduction but through lower rates prescribed in section 115 of the act. with the amendment of finance act, 1987, the statutory deductions or concessional rates available in section 80t and 115 have been incorporated in section 48 itself and sections 80t and 115 ..... under section 54e is to be given before giving deduction under section 80t. on the basis of this decision, she has submitted that after the amendment, by virtue of finance act, 1987, section 80t was deleted and deduction allowable therein to a non-corporate assessee was clubbed in section 48(2) and hence, deduction allowable under ..... board of direct taxes has issued circular no. 45 dated 22.09.1987 explaining the provisions contained in the finance act, 1987. prior to the amendment, under the provisions of section 48 of the income tax act, computation of capital gains resulting from the transfer of capital asset is made by deducting the cost of acquisition, the .....

Commissioner of Income Tax Vs. Manoharsinhji P. Jadeja

Court : Gujarat

Reported in : (2005)199CTR(Guj)223; (2005)3GLR2218; [2006]281ITR19(Guj)

..... the specified modes; but the said provision did not permit adopting nil cost of acquisition where the cost was unascertainable.6.1 section 55(2)(a)(i) of the act after amendment specified that where the price was known for acquisition of the specified asset that was the price which was to be taken as cost of acquisition and it had ..... nil the entire sale consideration is required to be taxed as profits and gains under the head 'capital gains' is also sought to be supported by the amendment in section 55 of the act. according to the learned counsel for the revenue the principle -- that a capital asset which does not have cost of acquisition does not fall within the charging ..... referred to an asset acquired by a mode not being any of the modes specified under section 49(1)(i) to (iv) of the act. that even otherwise as could be seen from the said amended provision it pertains only to the specified asset and, therefore, there was no implied inclusion of any other asset where the cost was not known .....

Commissioner of Income Tax Vs. Dharampal Satyapal

Court : Delhi

..... commercial rights of similar nature, in respect of which the same percentage of depreciation is prescribed; ? 12. the taxation laws (amendment and miscellaneous provisions) act, 1986 also amended section 32(1) of the act to provide that in the case of any block of assets, depreciation shall be allowed at such percentage on the written down ..... order to address the controversy, it would be essential to consider the statutory scheme relating to a block of assets. 11. the taxation laws (amendment and miscellaneous provisions) act, 1986 introduced significant changes with regard to the depreciation allowance; the concept of block of assets was introduced. section 2(11) as enacted by the ..... section 43(6)(c) was introduced to define 'the written down value in case of any of the block of assets'. corresponding amendment was also made to section 50 of the act to provide for special provisions for computation of capital gains in case of depreciable assets. he further referred to the cbdt circular no. .....