Judgment Search Results Home > Cases Phrase: finance act 1970 chapter i preliminary Court: income tax appellate tribunal itat kolkata Year: 1983 Page 1 of about 1 results (0.097 seconds)

State Bank of India Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1983)6ITD225(Kol.)

..... taken that the amended law stood during the assessment year and the ito did not allow deduction correctly under section 80m. sections 80aa and 80ab were introduced in chapter via by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 and 1-4-1981. it has been stated earlier that for reopening the assessment under section 147(b), ..... be said that two views are possible. when two views are available, one which is favourable to the assessee may be adopted--cit v. kulu valley transport co. (p.) ltd. [1970] 77 itr 518 (sc), cit v. naga hills tea co. ltd. [1973] 89 itr 236 (sc), cit v. vegetable products ltd. [1973] 88 itr 192 (sc) and mahendrakumar ishwarlal & ..... . bombay dyeing & mfg.co. ltd. [1971] 82 itr 892 (sc).7. the direct decision of the supreme court on the issue is available in v. jaganmohan rao v. cit [1970] 75 itr 373. the supreme court in the above decision observed that once the assessment is reopened by issuing a notice under section 34(1)(b) of the indian income .....