Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)35ITD590(Gau.)
..... could not be said to be invalid under section 143(3).it was indicated that the assessment order was made after the introduction of section 292b by the taxation laws (amendment) act, 1975. according to the assessee, the cit(a) has wrongly relied on the decision in the case of r. giridhar (supra) as the facts of the present case were ..... participated in them cannot object to the proceedings on the ground that no notice as required under rule 2 of part i of the second schedule to the income-tax act, 1961, had been given. in the present case, the assessee had accepted the said impugned notice and had actually participated in filing the appeal before the cit(a) ..... notice but also the assessee order given to the assessee have not been signed. it is, therefore, urged that in the circumstances, the notice was void and cannot be acted upon. it may be mentioned here that before the cit(a), the assessee had raised submissions in respect of the initiation of the proceedings under section 147 as well as .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1991)38ITD270(Gau.)
..... be taxed as business income, but this loss was nothing as the same arose out of speculation within the meaning of explanation inserted in section 73 of taxation laws (amendment) act, 1975. he was of the view that the assessee was not an investment company nor was it engaged in business of banking or grant of loans and advances ..... the subsequent purchaser from the assessee. the transaction in that particular case was held by the hon'ble court as "speculative transaction" under the provisions of the indian income-tax act, 1922. in the case of madanlal nemani (p.) ltd. v. cit [1976] 105 itr 244 (bom.) noted the facts of that case, in which the assessee ..... the assessing officer pointed out that the principal objects of the assessee was to take over the assets and liabilities of rupajuli tea co. ltd., incorporated under the english companies act and to plant, grow, import, export by sale process etc. of tea, coffee, rubber etc.and other produce of the soil. he noted that the company was engaged .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1991)38ITD281(Gau.)
..... 11 of the united provinces co-operative societies rules, 1936, but there was nothing expressly or impliedly in rule 11 which would confer on the society to amend its bye-laws with retrospective effect and in the absence of such power being conferred either expressly or by implication, it cannot be said that the society ..... that subsequently the state level committee came to a different finding which compel it to withdraw the approval accorded to the society earlier on which the assessee had acted upon. whether the state level committee for integral development has the power to withdraw the approval given earlier or has the power to withdraw such approval with ..... found that the society has violated the conditions for not maintaining proper books of accounts, for not utilising money for approved programme for rural development and merely acting as an agency for supplying certificates under section 35cca(2) on commission and returning the balance to the alleged donors within a day or two of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (2002)82ITD109(Gau.)
..... march, 1989 issued by the department of company affairs, new delhi, on the subject. in the clarification provisions relating to depreciation under the companies act, 1956, as amended by the companies (amendment) act, 1988, it has been clarified as under: "it may be clarified that the rates as contained in schedule xiv should be viewed as ..... no. 2. after extracting the relevant findings of the learned cit(a) and referring to the legal proposition that the appellate authorities created under the it act have to interpret the entire provisions harmoniously, he has pointed out that the very words used by the first appellate authority to treat the provisions of ..... other words, the quantum of unabsorbed depreciation, investment allowances, unabsorbed losses, etc. for the purpose of carrying forward has to be under the provisions of the act irrespective of the quantum of income determined under section 115j(1). thus, sub-section (2) of section 115j enacts a saving provision and in effect nullifies .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (2004)88ITD96(Gau.)
..... . the learned am had not taken into consideration the provisions of section 43(6)(c) incorporated w.e.f. 1st april, 1988, by the taxation laws (amendment & miscellaneous provisions) act, 1986. the learned jm has opined that such a provision is attracted and the written down value of the respective block of asset has got to be adjusted ..... as to whether the assessee's case falls under section 43 of the it act. the taxation laws (amendment and miscellaneous provisions) act, 1986, has introduced w.e.f. 1st april, 1988, a new scheme of depreciation allowance under which the depreciation is to be allowed in ..... the money received under the insurance policy was brought to tax as capital gain under section 45(1a) of the act. since the case before us is for the asst. yr. 1993-94 the amendment made by the finance act, 1999, is not applicable and accordingly the assessee is not liable to pay capital gains tax.now, the issue remains .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (2004)84TTJ(Gau.)329
..... which the assessee was not a partner. b) the cit (a) erred in directing to allow exemption under section 10(2a) relying on the decisions which either relate to pre-amendment position or not squarely applicable in the present case.2. since both the grounds of appeal are correlated and as the facts and circumstance in both the years under appeal ..... % share of profit from the partnership firm of rock international as its income and claimed the same is exempted within the provisions of section 10(2a) of the income tax act, 1961.the ao negated the assessee's claim in as much as according to him, m/s radha krishna jallan the assessee-partnership firm was not a partner of m ..... the assessee firm by virtue of its superior title over the share of income receivable by sri radha kishan jallan, is exempt under section 10(2a) of the i.t. act in the hands of the assessee firm.6. the other section under which the learned a/r of the assessee relied upon for his contention that the income of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1989)28ITD265(Gau.)
..... assessee has vested right in the procedural law so far as the substance is concerned and if the substantive question of jurisdiction is to be affected by a new amendment, the legislature must have said either in express terms or by necessary implication. in the present case before us, we could not find any express terms or ..... amongst other things, the hon'ble supreme court in the case of jamnaprasad kanhaiyalal (supra) has held that there was nothing' in section 24 of finance (no. 2) act, 1965, which prevented the ito, if he was not satisfied with explanation of the assessee about the genuineness or source of the amount found credited in its books, although ..... would not automatically give rise to amnesty to the assessee against enquiries or verification of those facts. there was nothing in section 24 of the finance (no.2) act, 1965, which prevented the income tax officer, if he was not satisfied with explanation of the assessee about the genuineness or source of the amount found credited in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1989)29ITD154(Gau.)
..... found not being retrospective in operations by express, intendment or necessary implication, cannot be made applicable from april 1, 1957. sub-section (3) of section 1 of kerala act provided that such amendment shall come into force on such date as the government may, by notification in the gazette, appoint. similarly, in the instant case before us, the provision of section 35b ..... tea estate ltd. v. state of kerala [1966] 60 itr 262 in which on the facts of that case, it was held that it is well settled that income-tax act as it stands amended on the first day of april of any financial year must apply to the assessment of that year and that as ..... binding on the assessing officer and other income-tax authorities although it might be against the provisions of the act.11. but in the instant case before us, the date on which rule 6aa has been brought into statute has effected by the amendment itself which may or may not be beneficial to a particular assessee. that apart, if we read the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1990)32ITD728(Gau.)
..... stressed by him that if the view expounded by the learned departmental representative is to be accepted, then whole sub-section (4) of section 253 would have been amended drastically. it is urged that in view of the present provision mentioned above, the respondent assessee though may have filed his own appeal, may file his cross objections ..... matter after we have gone through the different case laws and authorities cited before us. it may be mentioned here that different authorities were given under the income-tax act, 1922, in which there was no provision for filing cross objections. but even then, the respondent could support the order appealed against. reference may be made ..... of ambaji temple v. cit [1965] 58 itr 675(guj.)and kanpur industrial works v. cit [1966] 59 itr 407(all.). but under the income-tax act, 1961 there is specific provision under section 253(4) for filing cross objections and there is no ambiguity in the intention of the legislature in bringing out this provision .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Guwahati
Reported in : (1991)37ITD392(Gau.)
..... would be admissible to cases where the assessments are still pending as on 1-8-1981. the above rule 6aa did not amend any provision of section. it simply particularised certain specific activities for which weighted deduction can be considered under sub-clause (ix ..... high court and madras high court was taken in the writ proceedings.24. admittedly, rule 6aa did not amend any particular provision of the act. in fact, the rule has been brought into existence as a result of statutory provisions of section 35b(1)( ..... the hon'ble supreme court had occasion to deal with section 4 of the finance act, 1963 which was substituted by a new definition of "tax recovery officer". the provision, as amended, empowered the state government to authorise by notification certain land revenue officers to exercise the ..... relevant section and the rule framed thereunder. it is true that income-tax act as it stands amended on the first day of april of the financial year must apply to the assessment of that year and that .....
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