Judgment Search Results Home > Cases Phrase: finance act 1970 section 16 amendment of section 80mm Court: income tax appellate tribunal itat vizag Page 1 of about 5 results (0.102 seconds)

income-tax Officer Vs. K. Ramabrahmam and Sons (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2004)88ITD48Visakha

..... . collector of dibrugardh air 1992 sc 1264, 1269 [assam land revenue and land (surcharge) act, 1970 section 3].in the light of the above, it is evident that the surcharge is included in the term 'tax'. section 4 of the i.t. act reads as under : 4, (1) where any central act enacts that income-tax shall be charged for any assessment year at any rate ..... the directorate of income tax (rsp & pr) wherein it is prominently pointed out that the rate of deduction is 2%. further drawing my attention to part-ii of the annual finance act, prescribing for deduction of tax at source, the learned representative pointed out that the provisions thereof did not cast any additional obligation on the persons responsible for making payments to .....

Deputy Commissioner of Income Tax Vs. All Saints Christian Educational

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2007)111TTJVisakha109

..... course depending upon the facts of each case.10. furthermore, there has been an amendment in the statute by the finance act, 2006 w.r.e.f. 1st oct., 1991 and also an explanation has been inserted below section 148 as under: (a) where a return has been furnished during the period commencing on the 1st day of ..... in response to a notice served under this section, and (b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the ..... expiry of the time-limit for making the assessment, assessment or recomputation as specified in sub-section (2) of section 153, every such notice referred to in .....

D.C.i.T. Vs. the Andhra Petrochemicals Ltd.

Court : Income Tax Appellate Tribunal ITAT Vizag

..... strongly relied upon the order passed by the first appellate authority. in short, the case of the learned counsel is that prior to the substitution by the finance act, 2002, section 43a uses the expression, "there is an increase or reduction in the liability of the assessee as expressed in indian currency for making payment towards the whole ..... issue was considered by him in the case of dredging corporation of india limited. it is necessary to notice here that by the finance act 2002, the legislature amended the provisions of section 43a of the act with effect from 1.4.2003 whereby actual payment was made the basis for claiming depreciation on the cost of the assets. ..... the assessment year 1997-98 by which the assessee would be entitled to carry forward the unabsorbed depreciation upto the assessment year 2004-2005. however, by the finance act, 2001 with effect from 1.4.2002, the old provisions were revived by dispensing with the restriction of eight years for carry forward and set off of .....

income-tax Officer Vs. Vegunta Surya Prakasa Rao Sons and

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2004)88ITD322Visakha

..... book profit. thus, remuneration paid or payable is relatable to the book profits of the firm as per the amended provisions of section 40(&) of the income-tax act which are amended by the finance act, 1992. hence, the contentions of the assessee that remunerations were paid to the individual status of the partners for the services rendered ..... ensures that remuneration received by partner from the firm does not get treated as 'salary' for purposes of assessment. sub-section (v) to section 128 has been introduced by the same finance act, 1992 to include any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm ..... partnership is only a sub-partnership. this decision was given under the pre-amended provision of section 40(b), but the logic golds good even under the new scheme, i.e., even after the amendment of section 40(b) by finance act, 1992 with effect from 1-4-1993. in that case, the concerned partner represented his huf .....

A.C.i.T. Vs. Vinman Finance and Leasing Ltd.

Court : Income Tax Appellate Tribunal ITAT Vizag

..... that the depositors resided in urban area where banking facilities are available and therefore there is no reasonable cause for the violation of the provisions of section 269t of the act. the repayments, which were taken into consideration for the purpose of levy of penalty, are as follows.------------------------------------------------------s. no. name of the depositor ..... as well as the learned counsel for the assessee in this regard and carefully perused the record. the assessee, as the name suggests, is a finance and leasing company established during the previous year relevant to the assessment year 1994-95. the company accepted certain deposits in cash and also repaid certain ..... knowledge of its right to exemption so as to warrant an inference that the appellant waived such right by addressing the letter dated 25^th june, 1970. that the tax laws of this country are complex and complicated and often require for compliance, therewith the assistance of tax practitioners specializing in this .....

i. Appala Raju Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2006)100TTJVisakha438

..... learned departmental representative also could not be able to point out any discrepancy in the reconciliation since all these credits were duly disclosed.12. chapter xiv-b which consists, of section 158b to section 158bh was introduced by the finance act,.1995 w.e.f. 1st july, 1995 to make procedure of assessment of cases in which search is initiated under ..... section 132 or where books of account, other documents or any assets are requisitioned under section 132a. the chapter is titled (special procedure for assessment of search cases). the scheme of block assessment enacted under this chapter laying .....

Raghava Health Care Ltd. Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Vizag

..... passed by the chief commissioner or commissioner. the time limit of two years was reduced to one year with effect from 1.6.2001 by the finance act 2001. under section 153(3)(ii), an assessment, reassessment or re-computation may be completed at any time where the assessment, reassessment or re-computation is made on ..... income generating activity. the assessing officer has framed the assessment order based on the materials gathered during the course of search and also made additions under section 68 of the act based on the books of the assessee which were maintained during the construction stage. in this situation, the assessing officer, in pursuance of order ..... to the directions of ld cit(a). the assessee objected to the said notices on the ground that they are barred by limitation specified under section 153(2a) of the it act. however, the assessing officer rejected the contentions of the assessee and completed the assessment by determining the income as detailed below, vide his orders .....

Madhavi Finvest (P) Ltd. and ors. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2006)99TTJVisakha933

..... of the bank statements and the receipt and payment account filed by the assessee in the course of block assessment proceedings. chapter xiv-b which consists of section 158b to section 158bh was introduced by the finance act, 1995 w.e.f. 1st july, 1995 to make procedure of assessment of cases in which search is initiated under ..... by the subsequent letter of the ao and the assessment framed is bound to be quashed only on this basis.25. chapter xiv-b which consists of section 158b to section 158bh was introduced by the finance act, 1995 w.e.f. 1st july, 1995 to make procedure of assessment of cases in which search is initiated under ..... section 132 or where books of account, other documents or any assets are requisitioned under section 132a. the chapter is titled 'special procedure for assessment of search cases'. the scheme of block assessment enacted under .....

P. Govinda Satyanarayana Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2005)98TTJVisakha908

..... ) negative, whether the assessee has succeeded in disproving the admission and establishing genuineness of the investments in question chapter xiv-b consisting of section 158b to section 158bh was introduced by the finance act, 1995, w.e.f. 1st july, 1995, to make procedure of assessment of search cases more effective. the chapter is titled ..... the section expressly and unequivocally provides that the undisclosed income has to be computed "on the basis of evidence found as a result of search... and such other materials or information as are available with the ao and relatable to such evidence". the expression "relatable to such evidence" has been inserted by the finance act, ..... made the following additions in the undisclosed income returned by the assessee and completed assessment on an income of rs. 49,67,720 under section 158bc of the it act.1. undisclosed income introduced in the form of share capitaland unsecured loans in different names during the financialyears relevant to the asst. yr. .....

Smt. Bommana Swarna Rekha Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Vizag

Reported in : (2005)94TTJVisakha885

..... the undisclosed income on the basis of the material found during the course of search. our attention was drawn towards the provision of section 158bb and by referring to the amendment being made by the finance act, 2002, it was stated that the income has to be computed only on the basis of evidence found as a result of ..... aswini kumar and n. srinivasa rao. the ao in the absence of any explanation from the assessee added the same as unexplained investment by the assessee under section 69a of the it act. the learned authorised representative contended that the matter pertaining to these additions was born out of a piece of paper which does not contain date or signature. ..... dealer in textiles and carrying on business under the proprietrix in the name and style of m/s bommana silk house at srikakulam. a survey was conducted under section 133a of the it act in the business premises of the assessee. the search has taken place on 2nd feb., 1996, at the residence of the husband of the assessee, sri .....