Judgment Search Results Home > Cases Phrase: finance act 1970 chapter iii income tax Court: income tax appellate tribunal itat chandigarh Page 1 of about 60 results (0.168 seconds)

Dewan Chand Amrit Lal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)98ITD200(Chd.)

..... for incorporation of sections 269ss, 269t, 271d and 271e, it would be relevant to trace the legislative intent for incorporation of such provisions of the act.sec. 269ss was newly inserted by finance act, 1984 (21 of 1984) w.e.f.1st april, 1984. the provisions are effective from 1st july, 1984. the scope and effect of ..... his income or furnished inaccurate particulars of such income. the following clause (d) shall be inserted after clause (c) of sub-section (1) of section 271 by the finance act, 2005, w.e.f. 1st april, 2006: (d) has concealed the particulars of the fringe benefits or furnished inaccurate particulars of such fringe benefits, (n) in ..... of penalty had commenced. in the year 1970, section 275 was amended so as to obviating difficulties in such cases where the assessments were subject-matter of appeals and the additions were either deleted or reduced. under the amended provisions of the act, the limitation for imposing penalty under chapter xxi ordinarily was for two years from .....

Punjab State Co-op. Milk Producer Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)104ITD408(Chd.)

..... is also pertinent to mention that section 14a has been incorporated in the income-tax act, 1961 by the finance act, 2001 with retrospective effect from 1.4.72. the said section reads as under: 14a.for the purposes of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in ..... relation to income which does not form part of the total income under this act: provided ..... of the said amount as can be called total income attributable to activities defined in clause (5) of section 80b. section 10ab introduced in the income-tax act by the finance (no. 2) act, 1980, with effect from april 1, 1981, was adverted to by his lordship to buttress the view so taken, in that it read (at page .....

Punjab State Industrial Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)292ITR268(Chd.)

..... 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.15. it may be pertinent to mention that section 80m was omitted by the finance act, 1997 (26 of 1997) w.e.f. 1st april, 1998 in consequence ..... however, the said section was reintroduced from asst. yr. 2003-04 as the exemption in respect of dividend income was removed. subsequently, it was again omitted by the finance act, 2003 w.e.f 1st april, 2004 as the dividend income is now exempt in the hands of the shareholders. however, section 14a has been incorporated with retrospective effect ..... , the appeals are allowed. the application under section 256(2) of the it act made by the revenue shall be deemed to have been allowed, a reference made and answered in the manner indicated above. we may clarify that the assessment years concerned herein are 1970-71, 1971-72 and 1972-73.64. as a result of the decision .....

Phillips India Ltd. (Earlier Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)92ITD441(Chd.)

..... 8. in order to appreciate the issue it will be relevant to refer to the provisions of the act giving rise to the controversy involved in this appeal. it may be recalled that finance act, 1987 incorporated chapter xiib in the income-tax act, 1961 providing special provisions relating to certain companies for payment of minimum tax. section 115j provided taxation ..... of book profits @ 30% in respect of such companies where the profits computed in accordance with the provisions of the income-tax act, 1961 worked out to be ..... out to less than 30% of the book profits to be taxed on 30% of the book profits. section 115jaa was also incorporated by the finance act, 1997 w.e.f. 1.4.97 to provide for tax credit in respect of tax paid on deemed income relating to certain companies. it will .....

Acit Vs. Mahavir Spinning Mills Limited

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2008)110ITD211(Chd.)

..... out of export profits under section 80hhc and with a view of providing further incentive for earning foreign exchange, a new section 10b had been inserted by the finance act, 1988 so as to secure that the income of 100% equ shall be exempt from tax for a period of five consecutive assessment years falling within the block ..... 100% equ had been claimed to be exempt under section 10b, it was not eligible to claim any other deduction or allowance under any provision of the act, specially under chapter vi-a.according to the assessing officer, if the claim of the assessee was accepted in respect of section 80hhc, then the assessee could also make claim ..... not eligible to claim any other deduction or allowance under any other provision of it act specially under chapter via. of it act. he referred to the provisions of section 80 a b of it act and stated that the said provisions clearly states that the deduction under chapter vi-a are to be made with reference to income included in the gross total .....

Asstt. Cit Vs. Kishore Lal Balwant Rai

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... under section 158bd we find it appropriate to refer to the scheme and the purport of chapter xiv-b dealing with the procedure for making assessment in the cases of search which has been inserted in the act by the finance act, 1995 consisting of sections 158b to 158bh with effect from 1-7-1995. under these ..... fallacious having regard to the scheme of the block assessment under chapter xiv-b as also the objectives for which the special procedure for assessment in search cases has been brought on statute by the finance act, 1995. in the memorandum explaining the provisions introduced by the finance act, 1995 (refer to 212 itr 345 (st.) in this connection ..... prayer of the revenue for admission of aforesaid additional evidence. the primary objection of the respondent is that in a case of assessment covered by chapter xiv-b of the act, it is not permissible for the revenue to bring on record further evidence which the assessing officer collected post assessment against the assessee. the learned .....

Prakash Chand Vij Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)95TTJ(Chd.)409

..... income of each previous year for the purpose of aggregation be taken as total income in accordance with the provisions of this act. earlier in place of "act", the word used was "chapter iv" and the amendment had been inserted by the finance act, 2002, with retrospective effect from 1st july, 1995. therefore, combined reading of the entire section 158bb definitely leads to an impression ..... that the intention of the legislature was to compute total income in accordance with the provisions of chapter iv, now substituted with the words .....

Mascon Technical Services Ltd. Vs. Asstt. Cit, Central Circle Iii (2)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)3SOT861(Chd.)

..... was granted by the cbdt for the purpose of deduction under section 80-o in earlier years. no such approval was required after the amendment was made by the finance act, 1991, with effect from 1-4-1992.he then referred to section 80hhb. he brought to our attention sub-section (5) of this section in which it ..... the provisions are read together, it becomes clear that in the case of section 80hhb, the assessee was specifically prohibited to claim deduction under any other provisions of chapter vi-a in respect of receipts from foreign projects whereas sub-section (5) of section 80hhe only provides that if deduction has been claimed under this section, then ..... the receipts may fall under section 80hhb. sub-section (5) of section 80hhb reads as under : "(5) notwithstanding anything contained in any other provision of this chapter under the heading 'c.deductions in respect of certain incomes', no part of the consideration or of the income comprised in the consideration payable to the assessee for the .....

Om Parkash Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1982)1ITD1060(Chd.)

..... statute book by an insertion by the finance act, 1968, with effect from 1-4-1969. this section was substituted by the taxation laws (amendment) act, 1970, with effect from 1-4-1971. it deals with deductions in the case of totally blind or physically handicapped resident persons. this section is a part of chapter vi-a of the act, dealing with the deductions to be ..... made in computing the total income. the deductions given in this chapter have been categorised as a, b .....

Shri Pardeep Kumar Dhir Vs. A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... section 199 was different insofar as it provided for giving credit to the assessee in repect of tds in the assessment for me immediately following assessment year. by the finance act, 1987, the language of section 199 was modified to the extent that the credit for the tax deducted at source was provided to be given in the assessment year ..... the purpose of credit in respect of tds.the said section is reproduced hereunder; section 199. (1) any deduction made in accordance with the foregoing provisions of this chapter] and paid to the central government shall be treated as a payment of tax on behalf of the person from whose income the deduction was made, or of the ..... to the assessee in the regular assessment.from the above provision it is crystal clear that any sum recovered from the assessee as advance tax in pursuance or chapter xvii of it act, shall be treated as payment of tax in respect of income of the period which would be the previous year for an assessment for the assessment year next .....