Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 48 amendment of section 63 Court: income tax appellate tribunal itat ahmedabad Page 1 of about 58 results (0.080 seconds)

income-tax Officer Vs. Tandel Automobiles

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1990)35ITD191(Ahd.)

..... arrived at from another angle. section 55 to which section 55a was added with effect from 1-1-73 by the taxation laws (amendment) act, 1972, defines the meanings of the terms like "adjusted", "cost of improvement" and "cost of acquisition". subsection (3) ..... the total income of the assessee in each of the three years which the ito made under section 69b of the it act, 1961 (the act). to be clear on the point the final position came to this : assessee dvo/ito added under section 69-b1981 ..... ito was competent to have issued a commission in that itself to the district valuation officer under section 131 (1) of the act and, therefore, the report obtained by the ito from the valuation officer in that manner was a good piece of evidence on ..... itr 825.10. the arguments advanced on both sides take us to consider the scope of applicability of section 55 a of the act. in the cases relied upon by the learned counsels for the parties, the scope of applicability of section 55a has been considered differently .....

Vahid Paper Converters and ors. Vs. Ito and ors.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)98ITD165(Ahd.)

..... even as per the supreme court, the decision was applicable for the period prior to 1-4-1988, i.e., before the law was amended by taxation laws (amendment & miscellaneous provisions) act, 1986. moreover in the above case the dispute was not with regard to the computation of income for the purpose of chapter vi-a but ..... been answered differently by various high courts some in favour of the assessee and others in favour of the revenue. section 32 has since been amended by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from april, 1,1988, however, the answer to the question remains of substantial importance as various matters are stated to ..... given by the supreme court was for asstt year 1974-75, when section 34 was on the statute book, which is omitted by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from 1-4-1988, as per section 34, the assessee was entitled to depreciation under section 32 only if the prescribed particulars have .....

Core Health Care Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... of the same product. in an existing business, one may enlarge and augment the range of its existing products to meet the requirement of modernisation in the global competitive market. the new unit in the present case is managed by same board of directors and most of the employees are common. this is evident from the ..... once the production starts, no interest on borrowings for the purchase of such asset should be capitalised. it has also been mentioned in the said circular that the aforesaid amendment has been made to get over the difficulty created by the decision in the case of j.k. cotton wvg. & spg. mills ltd (supra) as such decisions ..... to capitalisation of interest expenditure. therefore, the ratio of the decision cannot be made applicable after insertion of various explanations below section 43(1) of the income-tax act, 1961. (vi) it is to further add that the assessee has de-capitalised various expenditure pertaining to new project including the expansion of its capacity. in this .....

Assistant Commissioner of Income Vs. Affection Investments Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2003)80TTJ(Ahd.)278

..... important findings; viz. (a) the first finding given by the tribunal is that the provisions of section 55(2)(aa) introduced by the finance act, 1994, and subsequently amended by the finance act, 1995, inter alia, provided that the cost of acquisition in relation to any right to renounce right share shall be nil, will be applicable prospectively ..... and unexpected. the assessee has gone even further and has quoted wrong facts and date.5.10. the ao has thereafter, placed reliance on the amendment made by the finance act, 1995, in which it has been provided that the cost of right renunciation of bonus should be the actual sum paid by the assessee towards acquisition ..... may also be relevant here to mention that the entire system of taxation of long-term capital gains has been changed by the finance act, 1992. the scope and effect of the amended provisions inserted by the finance act, 1992, applicable from asst. yr. 1993-94, have been elaborated in the departmental circular no. 636, dt. 31st aug., .....

Core Health Care Ltd. Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... of the same product. in an existing business, one may enlarge and augment the range of its existing products to meet the requirements of modernisation in the global competitive market. the new unit in the present case is managed by same board of directors and most of the employees are common. this is evident from the fact ..... . expln. 8 to s. 43(1) has been inserted to overcome the difficulties caused by such decisions. it has been specifically mentioned in the memorandum explaining the said amendment made by finance bill, 1986, which has been published in 158 itr 107 (at p. 116) (st.) that it has been found that certain taxpayers (backed by ..... . such a view ought to have been accepted by the learned a.m.136. the learned senior departmental representative drew my attention to s. 35d of the act relating to amortization of preliminary expenses.such preliminary expenses include expenses incurred before the commencement of business as well as expenses incurred after the commencement of business, in .....

Core Health Care Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2001)70TTJ(Ahd.)490

..... the same product. in an existing business, one may enlarge and augment the range of its existing products to meet the requirements of modernisation in the global competitive market. the new unit in the present case is managed by same board of directors and most of the employees are common. this is evident from the ..... explanation 8 to section 43(1) has been inserted to overcome the difficulties caused by such decisions. it has been specifically mentioned in the memorandum explaining the said amendment made by finance bill, 1986, which has been published in 158 itr 107 (at p. 116) (st.) that it has been found that certain taxpayers ( ..... capitalised. such a view ought to have been accepted by the learned a.m.the learned senior departmental representative drew my attention to section 35d of the act relating to amortization of preliminary expenses. such preliminary expenses include expenses incurred before the commencement of business as well as expenses incurred after the commencement of business .....

Shri Vijaysinh R. Rathod and ors. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... was noticed that substituted cost under section 49(1) was provided for the first time by inserting clause-(iv) w.e.f. 1-4-1976 by the taxation laws (amendment) act, 1975.the court took value of cost of acquisition at 'nil' for computing capital gain. a contention with regard to section 55(3) was raised before the high ..... incurred a cost, it would be impossible to compute the income chargeable to tax under the head "capital gains". by the finance act, 1987, with effect from april i, 1988, the amendment to section 55 of the act only ropes in taxability of goodwill on transfer of the same even if there is no cost of acquisition. similarly, section 55 ..... oa" for short). thereafter, portuguese territory was merged into indian union on 11-8-1961 by "d&nh" regulation act, 1961. by this act, the land laws in force i.e. oa were continued to remain operative until repealed or amended by parliament or competent authority. charter of oa continued to remain in force by "d&nh" regulation 1963 promulgated by .....

The Income-tax Officer Vs. Smt. Sukhini P. Modi, Smt. Radhika

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)112ITD1(Ahd.)

..... s office or to produce, or cause to be there produced, any evidence on which the assessee may rely in support of the return.8. it was amended by taxation laws (amendment) act, 1970 with effect from 1-4-1971 to the following: (b) ... the ao considers it necessary or expedient to verify the correctness and completeness of ..... income; (ii) acceptance of returned income subject to permissible adjustments under section 143(1) of the act by issuance of intimation; and (iii) scrutiny assessment under section 143(3) of the act. this scheme was originally introduced by direct tax laws (amendment) act, 1989 w.e.f. 1^st april, 1989. the issuance of notice under section 143(2) ..... . dr contended, when limitation had been provided for issuing the notice under section 143(2), namely the period between 1-4-1988 onwards, but upon amendment by the finance act 2006 by inserting the proviso to section 148 with retrospective effect from 1-10-1991 to section 148, the position is brought back to pre 1988 situation .....

M.G. Doshit Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1990)32ITD460(Ahd.)

..... case of central bank of india v. their workmen air 1960 sc 12, it was observed with reference to section 10 of the banking act that prior to the amendment of 1956 in that act section 10 of the act prohibited the grant of industrial bonus to bank employees inasmuch as such bonus was remuneration which took the form of a share in the ..... page 14 of 112 itr, statute part runs as under:-- in exercise of the powers conferred by rule 10(4) of the gift-tax rules, 1958 (as amended by the gift-tax (second amendment) rules, 1976), the central board of direct taxes hereby directs that the value of a partner's right to share the profits of the firm without the ..... dated june 18, 1987 upholding the gift-tax assessment as made by the gift-tax officer (gto), professional circle-i, ahmedabad under section 15(3) of the gift-tax act, 1958 (the act).2. briefly stated the relevant facts are that the assessee is a solicitor enrolled in the high court of bombay and presently practising at ahmedabad in the name and .....

Amp Spg. and Wvg. Mills (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)100ITD142(Ahd.)

..... apply in relation to the assessment year 1977-78, and subsequent years.8.1 this circular while explaining the provisions states in paragraph 19.1 that the amending act has added an explanation to section 73 to provide that the business of purchase and sale of shares by companies which are not investment or banking companies or ..... allowed to be carried forward to the following assessment year and set off against the speculation profits, if any, in that year, and so on. the amending act has added an explanation to section 73 to provide that the business of purchase and sale of shares by companies which are not investment or banking companies or companies ..... enactments, and to streamline the administrative set-up and make it functionally efficient; 7.2 this statement is not specific to any particular provision but to the amendment act as a whole and talks about many objectives one of which is to fight and curb tax evasion. nothing is specifically mentioned about the alleged avowed object with .....