Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Mar-06-1989
Reported in : (1989)29ITD1(Kol.)
..... of the rectification order in a writ petition in the high court. the high court set aside the order by holding that whether the retrospectivity given by the finance act would cover completed assessments or would apply to pending assessments was a debatable point and since it was a debatable point, there could not be said to be ..... was assessed to wealth-tax which included, inter alia, the value of jewellery and ornaments. on appeal, the appellate asstt. commissioner by his order dated 28-6-1970 excluded from the net wealth the value of jewellery and ornaments on the ground that they were intended for personal use of the assessee and were exempted under the ..... with reference to the income by way of such dividends as computed in accordance with the provisions of this act (before making any deduction under this chapter) and not with reference to the gross amount of such dividends.acting on the basis of section 80aa, the income-tax officer sought to rectify the assessments made for these two .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Mar-09-1989
Reported in : (1989)29ITD15(Kol.)
..... in the hands of the assessee 38. the gujarat high court considered the provisions of section 164 as it stood before the amendment introduced with effect from 1-4-1970 by the finance act, 1970. section 164 which was considered. by the gujarat high court was as follows : 164. where any income in respect of which the persons mentioned in clauses (iii) and ..... world income" with effect from 1-4-1965, consequent on the deletion of section 113 with effect from 1-4-1965.21. the finance act, 1970 substituted the following section in place of the earlier section with effect from 1-4-1970 : 164. (1) subject to the provisions of sub-sections (2) and (3) where any income in respect of which the ..... thereto are analogous to section 160(1) and 160(4) of the act. their lordships in the case of trustees of h.e.h. nizam's family (supra) have held that section 41 only comes into play after the income has been computed in accordance with chapter iii and then the question of payment of tax arises and it is .....
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