Court : Rajasthan
Reported in : (2004)186CTR(Raj)52; [2004]267ITR398(Raj)
..... of accounts was not required to be exclusively on mercantile or cash basis, as has now been made imperative since amendment of section 145 vide finance act, 1995 w.e.f. 1st april, 1997. prior to its amendment, section 145 envisaged that income chargeable under the head 'profits and gains of business or profession' or 'income ..... of the case, the tribunal is justified in deleting the addition on disallowance made on account of violation of provisions of section 40a(3) of the act treating these payments covered by the exceptional or unavoidable circumstances under rule 6dd(j) of it rules, 1962, when the assessee had been making transactions through ..... from other sources' shall be computed in accordance with the method of accounting regularly maintained by the assessee, whereas after amendment, the provision .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)34
..... act of 1961. thenceforth, under the scheme of depreciation, the claim of depreciation is allowed on block assets of ..... court referred to a large number of decisions of the supreme court as well as of calcutta high court and considering the scheme of rajasthan excise act, 1950 and rules framed thereunder, it was held that bottling fee was charged from the respondent-assessee by the state government for parting with its ..... which ao disallowed the claim, did not exist. it was contended in the alternative that since amendment of section 32 w.e.f., 1st april, 1988, the scheme of depreciation has undergone radical change vide taxation laws (amendment & miscellaneous provisions) act, 1986. 'block assets of business' has been succinctly defined under section 2(11) of the .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)29; [2004]268ITR446(Raj)
..... to be given while computing the total taxable income.15. apparently, the aforesaid question raises a substantial question as to the interpretation of section 32 as amended by the act of 1986 and was in force during the relevant assessment year.16. however, we are of the opinion that in view of the findings of fact ..... act of 1961. now under the scheme of depreciation the claim of depreciation is allowed on block assets. it cannot ..... of which ao has disallowed the claim did not exist.13. secondly, it was contended that since amendment of section 32 w.e.f. 1st april, 1988, scheme of depreciation has gone radical change vide' taxation laws (amendment and miscellaneous provisions) act, 1986. block assets of business has been succinctly defined under section 2(11) of the .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2004(1)Raj608; 2004(1)WLC685
..... with him as partner and the partnership deed is ex. a22 and it was executed in january, 1995. he explained that on account of excess work and marketing competition he had to enter into partnership with dinesh parwani. it was also stated by him that there entire shop is in his possession, although the std-pco is ..... the evidence the plaintiff-landlord failed to supplement the plaintiff-landlord that the tenant from time to time allowed a number of persons as sub-tenants and in amended plaint certain persons were named as sub-tenants but on evidence the plaintiff-landlord failed to prove subletting to any of them. on the oilier hand explanation ..... ) the original landlord gifted the tenanted premises to his daughter, the transferee landlord. proviso 3 to section 11 (3) of kerala buildings (lease and rent control) act provided that no landlord whose right to recover possession arises under an instrument of transfer inter vivos shall be entitled to apply to be put in possession until the expiry .....
Tag this Judgment!Court : Rajasthan
Reported in : (2003)185CTR(Raj)56; [2004]270ITR368(Raj)
..... .12. the reading of section 158bb is as under :'computation of undisclosed income of the block period : (sic) amendment has been made by inserting the following words 'in accordance with the provisions of this act, on the basis of evidence found as a result of search or requisition of books of account or other documents and ..... statements recorded in the environment of fear, mental torture, harassment, inconvenience, pressure and other adverse circumstances ?' 2. the search and seizure under section 132 of the it act, 1961, was carried out at the business premises of m/s rajan products and residential premises of its partners. at the time of the search cash book and ..... whether, on the facts and in the circumstances of the case, the tribunal was justified in sustaining additions made in block assessment proceedings under section 158bd of the act, irrespective of the fact that the entries were made in the regular books of accounts ?(ii) whether, on the facts and in the circumstances of the case, .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)125; [2004]269ITR399(Raj)
..... compute such income.36. in this connection, it is further relevant to notice that taking into account this legal position, the parliament has intervened section 55 of it act, 1961, has been amended by specifically providing now w.e.f. 1st april, 1995 by substituting the existing provisions as under :'for the purposes of sections 48 and 49 of the ..... it act :(a) in relation to a capital asset, being goodwill of a business or a trade-mark or brand name associated with a business or a right to ..... the capital gain arising from transfer of any or the following assets, in the acquisition of which the assessee has not incurred any expenditure, the finance bill proposes to amend the provisions relating to capital gains and provide that the cost of acquisition of the following is to be taken at nil :(1) tenancy rights(2) route permits( .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)1; [2004]268ITR305(Raj)
..... violative of constitution inter alia on the ground that the industries (development regulation) act, 1951 has been enacted by the parliament and by the amendment act no. 71 of 1956, 'fermentation industries' were included in item no. 26 in the schedule appended to that act and the control of which has been vested exclusively in the union. on that ..... (supra) has been summarized as under:'the position with regard to the control of alcohol industry has undergone material and significant change after the amendment of 1956, to the idr act. after the amendment, the state is left with only the following powers to legislate in respect of alcohol :(a) it may pass any legislation in the nature ..... in force shall be allowed only in computing the income of the previous year in which such sum is actually paid by the assessee. by an amendment by the finance act, 1988, sums payable towards cess and fee were also included which clearly indicates that the provisions as they stood at the relevant time did not .....
Tag this Judgment!Court : Rajasthan
Reported in : (2003)185CTR(Raj)601; [2003]264ITR744(Raj)
..... him during the financial year.53. the scheme of section 215 has now been recast under section 234c which came to be inserted by the direct tax laws (amendment) act, 1987, with effect from april 1, 1989. a separate provision has been made for payment of interest on shortfall of advance tax by the company as well ..... decide any issue on which two views are possible without having recourse to regular assessment proceeding after issuing notices under section 143(2). as noticed above, since the amendment act, 1999, any such discretion in the assessing officer to make prima facie adjustment of any claim made by the assessee, or the liability admitted by the assessee fell ..... opportunity a regular assessment was made under section 143(3).16. the scheme of assessment without calling the assessee and after notice to the assessee was substituted by the amending act of 1970 with effect from april 1, 1971. while making the assessment under section 143(1) as it existed prior to april 1, 1971, any variation .....
Tag this Judgment!Court : Rajasthan
Reported in : (2003)182CTR(Raj)554; [2004]266ITR70(Raj)
..... v. c. kulandaivelu konar (decd.) by lrs. : [1975]100itr629(mad) . this was so held even without any provision like clause (vi) as was inserted for the first time vide taxation (amendment) act of 1984 (act no. 67 of 1984) w.e.f, 1st april, 1985, which was never brought into operation as the same was omitted vide ..... purpose. 3. the grievance of the petitioners is with reference to the insertion of clause (vi) in section 17(2) w.e.f. 1st april, 2002, by the finance act, 2001, and amendment in rule 3 of the it rules, 1962, vide notification, dt. 25th sept., 2001, which has been brought into force w.e.f. 1st april, 2001. the insertion of ..... the persons entrusted with the implementation of the fiscal statute to fill in the details once the subject of levy has been specified clearly by the parent statute. impugned amendment 5. vide finance act, 2001, following clause (vi) has been inserted in sub-section (2) of section 17 after existing clause (v) : 'the value of any other fringe benefit or amenity .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2004(2)Raj800; 2003(4)WLC234
..... cases where the victims escapes death some of such victims are hospitalised for months if not for years.'their lordships further held as under:-'....... .there is nothing in the amending act to show that benefit of deletion of sub-section (3) of section 166, is not be extended to pending claim petitions where a plea of limitation has been ..... existing on the date of suit shall apply to it. thus, on the date of filing of the claim petition in the instant case, the provisions of the amendment act, 1994 shall be applicable and as such no period of limitation was prescribed on the date of filing the claim petition.6. the learned tribunal dismissed the claim petition ..... provided six months' limitation for filing a claim and the outer limit was that of one year. before sub-section (3) of section 166 was omitted by the amendment act, the period of limitation was six months and not later than one year. the legislature realised that the great injustice and injury, was being occasioned to the heirs and .....
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