Court : Income Tax Appellate Tribunal ITAT Hyderabad
Decided on : Jan-04-1991
Reported in : (1991)37ITD48(Hyd.)
..... (4), and emphasized that in the absence of a deeming provision, the explanation to section 132(4) should be read only prospectively.explanation to section 263(1) as introduced by the finance act, 1988, w.e.f. 1-6-1988, and as amended by finance act, 1989, w.e.f. 1-6-1988, is as follows :- for the removal of doubts, it is hereby declared that ..... then applies even though the hearing be in respect of matters which arose before that act was passed. [selangor united rubber estate ltd. v. cradock (no. 2) 1968 1 wlr 319, per ungoed thomas j. at page 321].in view of the above, it can be said that section 132(4) is procedural in nature.39. as stated in crates (statute law, 7th ..... edition, page 58), and approved by the hon'ble supreme court in central bank of india v. their workmen air for modern purposes a declaratory act may .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Decided on : Oct-21-1991
Reported in : (1992)40ITD1(Hyd.)
..... to above. the intention of the legislature is obvious and the profile of law shaped by the legislature to cure the defect is contained in sub-section (1a) of section 161 which was inserted by the finance act, 1984.25. coming now to the case relied upon by the counsel for the assessee, in the case of karelal kundanlal trust (supra) it was held ..... or read down, there will be a head-on clash between section 161(1) and section 161(1a).3. section 4 of the income-tax act is the charging section. the charge is in respect of the total income of the previous year on every person at a rate or rates prescribed by the finance act and the charge is subject to the provisions of the income ..... it has been so understood till assessment year 1984-85 in 161(1).in this context, the observations of the andhra pradesh high court in taj mahal hotel v. cit [1968] 70 itr 366 at pp. 368 and 369 may be usefully reproduced: as observed by lord watson in dilworth v. commissioner of stamps [1988] ac 99,105,106 'include .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Decided on : Aug-30-1991
Reported in : (1992)40ITD319(Hyd.)
..... and therefore the gains arising from such sale is chargeable to tax as capital gains under section 45 of the act. this position has been made clear by the insertion of an explanation to section 2(1a) of the act by section 3 of the finance act, 1989 with retrospective effect from 1-4-1970.8. the decision in the case of j ..... have reflected back into entry 82 of list i of the constitution (hereinafter called constitution).(ii) by the finance act, 1989, a new explanation has been inserted at the end of section 2(1a) of the income-tax act, 1961 (hereinafter called the act) with retrospective effect from 1st april, 1970.according to this explanation, revenue derived from land shall not ..... amended, which would then have reflected back into entry 82 of list-i of the constitution.5. by the finance act, 1989 with retrospective effect from 1-4-1970, a new explanation has been inserted at the end of section 2(1 a) which is reproduced here as under:-- explanation : for the removal of doubts it is hereby .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Decided on : Dec-30-1991
Reported in : (1992)41ITD280(Hyd.)
..... under section 185(1)(b) as he had chosen not to condone the delay in filing form no.11a in ..... an order refusing grant of registration, an appeal lies under section 246. further, under sub-section (3) of section 185, the benefit of registration once granted can be extended to subsequent assessment years, provided the firm filed a declaration under section 184(7).distinction between registered and unregistered firm has been dispensed with by the finance act, 1992.assessing officer was not justified in passing orders .....
Tag this Judgment!