Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2008)111ITD53(Delhi)
..... (supra) and in the case of rajasthan state warehousing corporation (supra). the attention of learned authorised representative was drawn to section 14a which was inserted by the finance act, 2001 with retrospective effect from 1st april, 1962 as per which any expenditure incurred by the assessee in relation to the income which did not form part of ..... pertinent for deciding this issue. expenditure incurred in relation to income not includible in total income.-- 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 ..... these provisions, because the controversy involved in various questions, referred to the special bench, centers around the scope of these provisions.15. section 14a inserted in chapter iv under the caption "computation of total income" is as under: 14a(1) for the purpose of computing the total income under this .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cochin
Reported in : (1983)3ITD571(Coch.)
..... shall refer the case to the inspecting assistant commissioner who shall, for the purpose, have all the powers conferred under this chapter for the imposition of penalty.the above section was amended by the taxation laws (amendment) act, 1970, with effect from 1-4-1971. after such amendment, the above section stood as follows : (2) notwithstanding anything ..... . the question as to whether by reason of the amendments made to section 274(2) by the taxation laws (amendment) act, 1970, with effect from t-4-1971 and again by the taxation laws (amendment) act, 1975, with effect from 1-4-1976, the jurisdiction, which had already become vested in the iac by reason of ..... the case to the inspecting assistant commissioner who shall, for the purpose, have all the powers conferred under this chapter for the imposition of penalty.the above provision was deleted by section 65 of the taxation laws (amendment) act, 1975, with effect from 1-4-1976. but a provision was incorporated in clause (iii) of section .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)3ITD633(Mum.)
..... of the gujarat high court in cit v. ochhavlal laljibhai dharia [1980] 125 itr 301. that was a case of acquisition of property under chapter xxa of the income-tax act. the question in those proceedings would be the fair market value of the relevant property. the presumption with reference to the fair market value could ..... a case.... (p. 490) the same point has been reiterated by all the high courts while dealing with the extension of time-limit brought about by the 1970 amendment act for completing penalty proceedings. we are merely giving the names of the following cases in order to avoid repetition: cit v. soubhagya manjari devi [1976] 105 ..... competent to give directions regarding the exercise of any judicial power by its subordinate officers. citing another supreme court decision in sirpur paper mills ltd. v. cwt [1970] 77 itr 6, he pointed out that interference by any outside authority impinging on the jurisdiction of an officer in quasi-judicial matters would vitiate the proceeding. he .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)2ITD39(Delhi)
..... of income, the report of such audit in the prescribed form duly signed and verified by such accountant.this is a new provision of law which was introduced by the finance act, 1975, with effect from 1-4-1976. all assessees, other than a company or a co-operative society, who derived income, profits and gains from a new industrial ..... appellant filed its return of income, it did not file the audit report along with its return of income as required under section 80j(6a) which was inserted by the finance act, 1975, with effect from 1-4-1976. but at the same time, it is clear from the assessment order dated 7-12-1979 that the assessee had filed ..... under sub-section (1) or sub-section (2) of section 139 should suffer merely because the declaration was not filed physically along with it. the taxation laws (amendment) act, 1970 which came into force on 1st april, 1971 has repealed and re-enacted section 184(7) and now the requirement that the declaration should accompany the return has been given .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1982)2ITD624(Mad.)
..... 69 itr (st.) 1. it was extended to aop/boi of married persons, following the system of community property in erstwhile portuguese territories, by the finance act, 1970 with effect from 1-4-1971. assessees being hufs, the only clause applicable to them is clause (b) of section 80c(2) which authorises deduction ..... are conveniently dealt with together.2. all these assessees had claimed and were allowed the following rebates under section 80c of the income-tax act, 1961 ('the act') in respect of their contributions to public provident fund as under :------------------------------------------------------------------------------------it appeal name of the assessee asst. amount of amountof no. ..... different itos at different times allowed such relief without question. years later, the assessments were sought to be rectified under section 154 of the act and notices were issued on the assessees proposing to withdraw the relief. the assessees took as many as seven objections. the assessees claimed that .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)4ITD602(Mum.)
..... the repairing of motor car was 'processing of goods' within the meaning of the definition of 'industrial company' appearing in section 2(7)(c) of the finance act, 1979 ('the act.'). it may be stated in this connection thai: a lower rate of tax is applicable to industrial companies if they come under the aforesaid definition. the aforesaid ..... to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter via of th e income-tax act) is not less than fifty-one per cent of such total income.3. the case of the assessee before the ito was that it ..... it was held that the folding and stitching of the printed sheets would constitute 'processing of goods' within the meaning of 'industrial company' as envisaged under the aforesaid finance act, the case of the assessee before the commissioner (appeals) was that it got damaged automobiles and repaired the same in order to produce commercially new articles.hence, it .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1983)5ITD125(Chd.)
..... of capital asset underwent a change by section 3 of the finance act, 1970 with the substitution of clause (iii) which is as under : (a) in ..... of the opinion that the assessee is entitled to succeed. section 2 of the act deals with definitions. section 2(14) defines capital assets.before the substitution of sub-clause (iii) of clause (14) by the finance act, 1970 with effect from 1-4-1970 'capital assets' did not include 'agricultural lands in india'. however, the definition ..... case, the capital gains arising from the sale of land of the assessee situated in lehal, patiala, is liable to tax under the income-tax act, 1961 ('the act'). the facts which are relevant for determination of this issue lie in a narrow compass. the assessee had agricultural lands on which factually agricultural operations .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1983)6ITD158(Ahd.)
..... dividends. the appellate assistant commissioner negatived the contention and held that the statutory percentages would be 50 per cent and 65 per cent as enacted by the finance act of 1959 and therefore the assessee was not entitled to an opportunity to declare additional dividends. it was further held by the appellate assistant commissioner that ..... favour of the assessee. relying strongly on the decision of the hon'ble calcutta high court in the case of citw. bombay photo stores (p.) ltd. [1970] 76 itr 84, the learned counsel for the assessee submitted that the commissioner (appeals) had rightly decided the assessee's case in its favour. the learned counsel ..... p.) ltd. [1976] 102 itr 264 (mad.), cit v. ramchand kundanlal saraf [1975] 981tr 474 (mp), cgtv. c.muthukumaraswamy mudaliar [1975] 98 itr 540 (mad.), cit v. tezpur automobiles [1970] 75 itr 722 (assam & nagaland), gobald motor service (p.) ltd. v. cit [1966] 60 itr 417 (sc), cit v. gangadhar banerjee & co. (p.) ltd. [1965] 57 itr .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT
Reported in : (1985)12ITD402(Bang.)
..... ('the act') in view of the decisions of ludhiana central co-operative consumers' stores ltd. v. cit [1980] 122 itr 942 (punj. & har.) and h.r. sugar factory (p.) ltd. v. cit [1970] 77 itr 614 (all.). the assessee went in appeal.3. before the commissioner (appeals), the learned representative of the assessee relied on a decision of ..... excise, bangalore, issued a notice no. 22/65, dated 22-5-1965, based on the notification no. 13/65, dated 13-2-1965, by the ministry of finance, announcing exemption from basic duty at certain percentages on additional production of sugar by the manufacturers during certain specified periods. the object was to provide for an incentive to maximise ..... 1964-65 and 1965-66 seasons. the notice, issued by the collector of central excise, informed the trade the concession available under the notification of the ministry of finance. there was an exemption of 50 per cent of the basic duty, on such quantity of sugar produced during the period 1-10-1964 to 30-11-1964 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1985)13ITD610(Kol.)
..... 1tr 49. it was held in that case that neither the speech of the minister at the time of the introduction of the finance bill nor the instruction issued by the central board of revenue, should be allowed to control the plain words of the section. these ..... a copy whereof appears at pages 23 to 25 of the paper book. the learned members in that case took into account the finance minister's speech while coming to the conclusion that the provisions of section 40a(8) are not aimed at payment of interest to ..... 5,798. a small-scale co-operative unit was formed by some of the workers of the assessee's factory in the year 1970-71. the assessee advanced a sum of rs. 10,550 in 1971-72 to enable the aforesaid co-operative unit to meet ..... ended on 30-6-1977. the ito disallowed interest amounting to rs. 17,744 under section 40a(8) of the income-tax act, 1961 ('the act'). on appeal, the commissioner (appeals) following his decision on the issue for the assessment year 1977-78, sustained the disallowance. .....
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