Judgment Search Results Home > Cases Phrase: finance act 1970 section 16 amendment of section 80mm Court: income tax appellate tribunal itat Page 8 of about 1,355 results (0.144 seconds)

Dy. Cit Vs. Shree Vallabh Glass Works Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)76TTJ(Ahd.)652

..... for enabling giant of deduction in respect of pf contribution of last month provided such amount is paid before the due date prescribed under the pf act. the second proviso to section 43b introduced by the finance act, 1987 with effect from 1-4-1988, provided that no deduction shall, in respect of any sum referred to in clause (b), be allowed ..... time being in force shall be allowed ii. computing the income only of that previous year in which such sum is actually paid by him.by the finance act, 1987, two provisos to section 43b were inserted with effect from 1-4-1988. it is submitted that the first proviso is inserted to mitigate the hardship caused to the taxpayers because ..... scheduled bank in accordance with the terms and conditions of the agreement governing such loan, or the following clause (f) shall be inserted after clause (e) of section 43b by the finance act, 2001, with effect from 1-2-2002; (f) any sum payable by the assessee as an employer in lieu of any leave at the credit of his .....

Gtc Industries Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD86(Mum.)

..... from the transfer of any land referred to item (a) or item (b) of sub-clause (m) of clause (14) of section 2. the amendment was made by the finance act, 1989 with retrospective effect from 1-4-1970 when the provisions of section 2(14) themselves were introduced in the statute book. the amendment was not in existence at the time when the tribunal ..... decided not to refer the question under section 256(1) of the act.however, at the stage of 256(2) proceedings before the high .....

G.T.C. Industries Ltd. Vs. the Dy. Cit, Spl. Rg. 50

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... from the transfer of any land referred to item (a) or item (b) of sub-clause (iii) of clause (14) of section 2. the amendment was made by the finance act, 1989 with retrospective effect from 1.4.1970 when the provisions of section 2(14) themselves were introduced in the statute book the amendment was not in existence at the time when the tribunal ..... decided not to refer the question under section 256(1) of the act. however, at the stage of 256(2) proceedings before the high .....

Gtc Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)105TTJ(Mum.)1010

..... from the transfer of any land referred to item (a) or item (b) of sub-clause (iii) of clause (14) of section 2. the amendment was made by the finance act, 1989 with retrospective effect from 1st april, 1970 when the provisions of section 2(14) themselves were introduced in the statute book. the amendment was not in existence at the time when the tribunal ..... decided not to refer the question under section 256(1) of the act. however, at the stage of 256(2) proceedings before the high .....

income-tax Officer Vs. Quality Wines

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1989)31ITD163(Hyd.)

..... trade discount offered, rather than as an advertisement coming within the meaning of the expression as used in rule 6b. the third reason was sub-section (3a) of section 37 as introduced by the finance act, 1983 w.e.f. 1-4-1984 entitled the i.t.o.to disallow only 20% of the aggregate of the expenditure incurred on ..... dated 29-4-1983]. the learned cit(a) held that there was a more direct way of allowing appellant's claim. sub-s. (3a). of section 37 was introduced by the finance act, 1983, with effect from 1-4-1984. under the said provision only 20% of the aggregate expenditure on advertisement, publicity and sales promotion can be ..... considered by the madras bench was entirely different from the provisions now applicable, the madras bench was considering section 37(3a) as it stood before its omission by the finance act, 1980. we are concerned with section 37(3a) introduced by the finance act, 1983.these two provisions are entirely different and has nothing to do with each other. further, he .....

Peico Electronics and Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1993)44ITD711(Kol.)

..... stand that the order of the commissioner having been passed before 1-6-1988, i.e., prior to the amendments made by the finance act, 1988 as well as the finance act, 1989 to section 263 of the act, the doctrine of merger must be held to be applicable. he also drew our attention to the decision of the kerala high court ..... the present case.16. the learned counsel for the assessee submitted that the amendment made to section 263 of the act by inserting a new explanation with effect from 1-6-1988 by the finance act, 1988 and the further amendment made by the finance act, 1989 extending the scope of the explanation with retrospective effect from 1-6-1988 applied only ..... for the assessee was at pains to point out that the order under section 263 in the present case having been passed on 24-3-1988 the explanation (c) to section 263 inserted by the finance act, 1988 with effect from 1-6-1988 and expanded by the finance act, 1989 with retrospective effect from 1-6-1988 cannot be pressed into service .....

Hindustan Sanitary Engineers Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2005)96TTJ(Asr.)460

..... the income assessed. on the contrary, the ld.d.r. has taken a stand that the said decision has been nullified by amendment to explanation-1 to section 234-b(1) by the finance act, 2001 with retrospective effect from 1-4-1989. at this juncture, it would be relevant to consider the effect of this substitution. the ..... view that interest could be charged only on the tax on the income determined under section 143(1) of the act. per contra, the ld.d.r.invited my attention towards amendments carried out in sub-section (1) and explanation-1 to section 234-b by the finance act, 1995 and 2001 with retrospective effect from 1-4-1989. it was contended that ..... finance act, 1995 carried out certain amendments to sub-section (1) of section 234-b with retrospective effect from 1-4-1989. the amended section provides that where an assessee is liable to pay advance tax under section 208 but has failed to pay such tax or an advance tax paid .....

Abu-dhabi Commercial Bank Ltd. Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... be charged to the assessee in excess of tax rate being charged to an indian company. in this connection, we find that anexplanation has been inserted in section 90 by the finance act, 2001 with retrospective effect from 1-4-1962. the explanation reads as under: explanation. for the removal of doubts, it is hereby declared thatthe charge of ..... ] payable out of its income in india". it is submitted that this condition is the same as the one that existed in the explanation to section 90 prior to its deletion by the finance act, 2004; and, therefore, the ratio of the rulings in the case of decca survey overseas ltd., it appeal no. 3604/b/94 dated ..... ignored. with regard to tax treaties with 4-countries, which are subsequent to insertion of this explanation to section 90 by the finance act, 2001, we are of the considered opinion that in spite of insertion of this explanation in section 90, insertion of such clause in tax treaties with the outside countries is always advisable to avoid any confusion .....

Varadaraja theatres (P.) Ltd. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1989)29ITD29(Mad.)

..... we look into the subsequent amendment brought about by the finance act of 1988 in section 40(3)(fn) of the finance act of 1983. section 87 of the finance act of 1988 has introduced several amendments in section 40 of the finance act of 1983.sub-section (ii)(c) of section 87 of the finance act of 1988 has substituted the following three clauses for the ..... tax had interpreted the said provision of law.5. shri bhatt further relied on the latest amendment brought about in section 40 of the finance act of 1983 by the provisions of section 87 of the finance act of 1988, whereby a cinema house is expressly excluded from the category of assets includible in the net wealth of ..... k.v. ananthachari, the learned departmental representative opposed these contentions urged on behalf of the appellant and argued that the provisions contained in section 40 of the finance act of 1983 as quoted by the commissioner were clear and unambiguous and therefore there was no need for us to look into either the budget .....

Plasticotes Investments Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1992)40ITD332(Mum.)

..... that the value of the flats in question was not liable to tax as the said flats do not fall within the any of assets enumerated in sub-section (3) of section 40 of the finance act, 1983.4. the assit. commissioner of w.t., however, rejected the assessee's stand for the reason stated in his order for the assessment year ..... owns only a portion of building (flat) and therefore the value thereof could not be considered for determining its net wealth.he also submitted that since section 40 of the finance act, 1983, is a charging section, the same should be construed strictly. again, according to him, neither the intention of the legislature nor the spirit of the provision is relevant to ..... in bennet villa and nilkant are let out to outsiders while the flats in anand kamal are let out to the director of the assessec-company.3. by section 40 of the finance act, 1983, the levy of wealth-tax was revived in the case of closely held companies. in its return of net wealth (showing nil wealth), as well .....