Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1994)50ITD539(Pat.)
..... 155(7a) were omitted from 1-4-1992 by the direct tax laws (amendment) act, 1987. the provisions of section 45(5) were expressly made applicable only from the assessment year 1988-89. therefore they are not applicable for the year under appeal ..... the first instance would continue to be chargeable as income under the head 'capital gains' in the previous year in which the transfer took place. 24.7 these amendments will come into force with effect from 1st april, 1988, and will, accordingly apply from the assessment year 1988-89 and subsequent years. the provisions of section ..... present case.8. the judgments relied on by the ld. d.r. were concerned with the amendment to the laws of procedural nature and were therefore held to act retrospectively. those judgments do not apply to the present case where the amendment is to a substantive provision which has been held to be a charging section.9. for .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1995)52ITD1(Pat.)
..... the provisions contained in sections 30 to 43a.4. the id. counsel for the assessee submitted before us that "43b" was substituted for "43a" by the direct tax laws (amendment) act, 1987 with effect from 1-4-1989 only. thus, as far as assessment year 1986-87 was concerned, the income from business had to be computed in accordance with the ..... it in line with the insertion of section 43b of the act w.e.f 1-4-1984. the amendment in section 29 was operative from 1-4-1984. we, therefore, hold that section 43b ..... case justify amply a similar view with respect to section 29 of the act. this view is further reinforced by the non obstante clause at the beginning of section 43b of the act. we, therefore, conclude that this substitution of "43a" by "43b" by the direct tax laws (amendment) act, 1987 w.e.f.1-4-1989 was only clarificatory and to bring .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1993)45ITD63(Pat.)
..... in the case of prakash lal khandelwal v. ito [1989] 180 itr 604. besides, to settle the controversy appropriate amendment was made to section 139 by inserting an explanation 2 to section 139 by the taxation laws amendment act, 1984. therefore, no interest is chargeable either under section 139, obviously and also for same reasons no interest can ..... be charged even under section 217(1a) of the act.8. the appeals are now restored to the division bench for passing an ..... 1-4-1971. it may be stated here that neither the learned judicial member nor the learned accountant member has referred to this particular amendment while considering section 11(4) of the act and, therefore, considering the facts of this case i do not find it necessary to go into details and advert to the implications of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (2007)104ITD382(Pat.)
..... the appellant to raise a new ground of appeal not set forth in the memorandum of appeal. hon'ble bombay high court has held that even without a formal amendment of the grounds set forth in the memorandum of appeal, a new ground can be raised (new india life assurance co. ltd. v. cit 31 itr 844. ..... prejudicial to interest of revenue. in view of facts indicated above and justification given by cit in order passed under section 263, the order under section 263 of it act deserve to be confirmed. your honour is requested to consider the matter accordingly and decided the issue in favour of department and against the assessee.7. the learned ..... was appointed by revenue the power is given to ao by revenue, with certain duties, for which he was bound to discharge as assessing officer. he should have acted as investigator the assessment order passed by assessing officer clearly, not only erroneous but prejudicial to interest revenue. reliance is placed on following decisions: there should be error .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1995)52ITD142(Pat.)
..... intimation under section 143(1)(a)(0 outside the purview of section 6. the id. counsel for the assessee invited our attention further to the amended provisions of section 154(1) substituted by the direct tax laws (amendment) act, 1987 w.e.f. 1-4-1989 which are reproduced below :- 154(1). with a view to rectifying any mistake apparent from record, an ..... .12. the question, therefore, arises as to what was the intention of the parliament. the word "intimation" has been used for the first time in the income-tax act by virtue of the amendment to the scheme of assessments w.e.f. 1-4-1989. since it is a new word, it is evident that its meaning will be not the same ..... not an `order' within the meaning of section 263 and is hence not revisable.the word "intimation" has been used for the first time in the income tax act by virtue of the amendment to the scheme of assessments with effect from 1-4-1989. since it is a new word, it is evident that its menaing will be not the same .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1996)56ITD33(Pat.)
..... impose penalties in such cases. we recommend that the present section 276 of the income-tax act, 1961, may be deleted from chapter xxii dealing with 'offences and prosecutions' and may be incorporated with suitable amendments in chapter xxi of the income-tax act, 1961, dealing with 'penalties imposable'. we may mention that a provision enabling the imposition ..... onus on the assessee to prove that there was reasonable cause for the said failure.this amendment could not have been considered in the above judgment of the supreme court since a different statute, le., the sales tax act was under consideration. it also could not have been considered by the madhya pradesh high court in ..... or minor breach of law or whether the assessee acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest, or acted in conscious disregard of its obligation. we have also to notice an amendment to the law by the introduction of section 273b of the act w.e.f. 10-9-1986 shifting the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1985)13ITD158(Pat.)
..... such he should show the said amount in his return.further it was stated that this became taxable in the hands of the assessee only by virtue of an amendment made which was given effect from the assessment year 1977-78 only (only one year before the year under consideration). it was, thus, argued that the ..... income or furnished inaccurate particulars of his income as a result of fraud or gross or willful neglect. the imposition of penalty under section 271(1)(c) of the act, in such circumstances, would not be valid. (p. 391) it was, thus, argued that in identical facts, their lordships of the patna high court held that ..... the departmental representative argued in connection with the above legal argument that even though no notice was issued to the legal representative, section 159(2)(a) of the act authorises the department to continue the proceeding taken against the deceased against the legal representative after his death and the proceeding taken against the deceased before his death shall .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)67ITD89(Pat.)
..... retirement from service from inclusion in the assessee's total income, was inserted into section 10 to be effective from april 1, 1978, by the finance act, 1982, no consequential amendment of section 17(3)(ii) was made. that demonstrates the intention of parliament to the effect that all categories of payment by way of leave encashment ..... legislation which is relevant to appreciate the point.3. capital gain was not included in the definition of term "income" in the indian income-tax act, 1922 prior to amendment of section 2(6c) and insertion of new section 12b relating to capital gains the above was done under entry 54 in list i of the ..... seventh schedule of the government of india act, 1935. this entry with which definition of "income" was challenged before the constitutional bench of supreme court in the case of navinchandra mafatlal (supra). their lordships upheld the validity of amendment and held that capital gains after amendment was taxable "income".4. in the case of manubhai .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1987)20ITD94(Pat.)
..... 80j forbade the transfer to a new business of building, machinery or plant previously used for any purpose. this clause underwent amendment by section 12 of the finance act, 1975 with effect from 1-4-1976. by the amendment the words 'a building' were deleted.therefore, the commissioner (appeals) held that the assessee was not entitled to 80j ..... mentioned the same nor considered it. the disallowance of relief under section 80j as borrowed capital is based on the retrospective amendment of rule 19 a of the income-tax rules, 1962 ('the rules'). this amendment has been held to be valid in the leading and recent decision of the supreme court in lohia machines ltd. v ..... appeals filed by the assessee as well as those filed by the revenue is regarding the claim of assessee for deduction under section 80j of the income-tax act, 1961 ('the act'). the assessee, a company, had taken over a running business of a partnership concern hindustan tools & dies, laxmi mansion, bistupur, jamshedpur with all its .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Patna
Reported in : (1998)64ITD129(Pat.)
..... .7. apart from supporting the view taken by the learned accountant member, the learned departmental representative invited my attention to expln. 6 inserted in s. 271 of the act by direct tax laws (amendment) act, 1989, w.e.f. 1st april, 1989, which runs as under : "explanation 6. - where any adjustment is made in the income or loss declared in the ..... times' was inserted w.e.f. 1st april, 1989, by virtue of taxation laws (amendment) act, 1989. but there is no alteration, change or substitution of the main provision of sub-cl. (c) of sub-s. (1) of s.271 nor any of its essential ..... do agree with my learned brother that the measure and quantum of imposition of penalty under cl. (iii) to s. 271(1)(c) has been substituted by taxation laws (amendment) act, 1975, and penalty of "twice" the amount of tax sought to be evaded was inserted as a measure of punishment. this word 'twice' was omitted and the words 'three .....
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