Judgment Search Results Home > Cases Phrase: finance act 1970 section 22 amendment of section 193 Court: income tax appellate tribunal itat ahmedabad Page 8 of about 151 results (0.234 seconds)

Chandulal Gulabchand Mehta, Huf Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1986)16ITD671(Ahd.)

..... a joint family or both. 31.3 with a view to curbing the practice of creating multiple hindu undivided families by making partial partitions, the finance act has inserted a new-sub-section (9) in s171 whereunder partial partitions of hindu undivided families effected after 31st december, 1978 will not be recognised for tax purposes. the new ..... partial partition had taken place on 30-5-1979, the income-tax authorities were not justified in invoking the provisions of section 171(9), which was brought on the statute by the finance (no. 2) act, 1980 with effect from 1-4-1980. according to the learned counsel for the assessee, the parliament has no right ..... state of mysore, vol.17, p. 167 of the unreported judgments (supreme court). the head notes of the said case read as under : mysore sales tax (amendment) act, 1969 - section 3 - validity of-enhancement of rate of duty from 61/2 per cent to 45 per cent with retrospective effect is arbitrary and unreasonable - amendment not removing lacuna - .....

Walaiti Ram Gupta and Co. Vs. Income-tax Officer.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1990)38TTJ(Ahd.)108

..... claim of the assessee could not be accepted. he further submitted that, the finance act, 1983, defined "industrial company" for the limited purpose of rate of tax to be levied and therefore, that definition could not be imported into sec. 80-1. he finally argued that, construction concerns had not been specifically considered ..... or production of an article or thing and the claim of the assessee accordingly it justified.4.2 the argument of the assessee that, the finance act, 1983, has included in the definition of "industrial company", execution of projects, which has been defined to include construction of buildings is also relevant ..... indicated manufacturing operations, and a new and an independent product "pile" was brought into existence and hence the company was an industrial company. he then referred to the finance act, 1983, wherein, "industrial company" has been defined to include "execution of projects" well. referring to the tribunal decisions in shapoorji pallonji & co. (p.) ltd .....

income-tax Officer Vs. Elite Ship Yards

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1991)39ITD178(Ahd.)

..... previously used for any purpose. the words "a building (not being a building taken on rent or lease)" were omitted by the finance act, 1975. the effect of the aforesaid amendment made in section 80j(4)(ii) is that deduction under section 80j is to be allowed even in cases where the new industrial undertaking is set up in a transferred building. in the ..... . it will also be relevant to consider the legislative amendments made from time to time in the provisions of section 80j prior to amendment by the finance act, 1975 w.e.f. 1-4-1976 one of the conditions for grant of deduction under section 80j was that the industrial undertaking should not be formed by the transfer to a new business of a .....

Dr. Sanjiv P. Desai Vs. Income-tax Officer.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1998)60TTJ(Ahd.)305

..... of the sort has been done by the ao. it will also be worthwhile to observe that expln. 2 to s. 16 inserted by the finance act, 1985, w.e.f. 1st april, 1986, which was omitted by finance act, 1989, w.e.f. 1st april, 1990 also clarifies that the use of any vehicle for journey by assessee from his residence to his ..... and circumstances, we are of the considered opinion that the amount given by the employer by way of reimbursement towards vehicle conveyance expenses is exempt under s.10(14) of it act, 1961, in view of the clear notification dt. 9th june, 1989 (supra). the said circular clearly lays down that any allowance granted to meet the expenditure incurred on conveyance in .....

Dr. Sanjiv P. Desai Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... of the sort has been done by the ao. it will also be worthwhile to observe that expln. 2 to s. 16 inserted by the finance act, 1985, w.e.f. 1st april, 1986, which was omitted by finance act, 1989, w.e.f. 1st april, 1990 also clarifies that the use of any vehicle for journey by assessee from his residence to his ..... and circumstances, we are of the considered opinion that the amount given by the employer by way of reimbursement towards vehicle conveyance expenses is exempt under s. 10(14) of it act, 1961, in view of the clear notification dt.9th june, 1989 (supra). the said circular clearly lays down that any allowance granted to meet the expenditure incurred on conveyance in .....

Asstt. Cit Vs. Mugat Dyeing and Printing Mills

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)77TTJ(Ahd.)696

..... order of learned commissioner (appeals) be reversed and that of the assessing officer be restored.section 43b was inserted by the finance act, 1983 (with effect from 1-4-1984), and reasons for the same as per budget speech of the then finance minister are as under : "several cases have come to notice where taxpayers do not ..... profit only in the year and to the extent it is actually paid." in this context, i have also gone through the memo explaining the provisions of finance act, 1983. para 60 of the same contains as under : "60. several cases have come to notice where taxpayers do not discharge their statutory liability such ..... cit (1997) 224 itr 677 (sc) referred to the clauses of memorandum explaining the provisions in finance bill, 1983, and the budget speech explaining the reasons which necessitated insertion of section 43b in income tax act. it has been observed that section 43b was clearly aimed on curbing the activities of those taxpayers, who did not discharge their liabilities .....

Cas Card Finance Ltd., Rathore Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2003)78TTJ(Ahd.)55

..... appeals, the following points of difference are referred to the hon'ble president, itat for appropriate action under section 255(4) of the it act : 1. whether additions on account of share capital rs. 23,92,000 in the case of cas card finance ltd. and rs. 1,94,000 in m/s jaisati syntex (p) ltd. as undisclosed income in ..... r/w section 158bd of the it act, 1961, consequent to the search and seizure operations carried out on 5th sept., 1995, at the residential premises of shri bhawanisingh j champawat who is the managing director of one of the companies m/s cas card finance ltd. and who is. also the main person controlling the affairs of other assessees involved ..... read with section 158bd of the it act, 1961, consequent to the search and seizure operations carried out on 5th sept., 1995, at the residential premises of shri bhawani singh j. champawat who is the managing director of one of the companies m/s cas card finance ltd. and who is also the main person controlling the affairs of other .....

Unimed Technologies Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2000)73ITD150(Ahd.)

..... on an enquiry by the ao from itc bhadrachalam relating to the above transactions, itc bhadrachalam explained that they are in the business of leasing and hire purchase finance and they finance their clients each equipment required by and to be installed at the clients premises.the terms of an agreement between itc bhadrachalam & rseb were as under :assets : ..... the disallowance of rs. 25,39,770 under s. 43b on account of deferred sales-tax, whereas the said amount was not covered under the provisions of the said section. (b) he has also erred by not directing the ao to follow circular no. 496 dated 25th september, 1987 and circular no. 764 dated 29th december, ..... /avoidance of tax the answer is "no". in any case, if the ao refuses the registration solely on this ground, although the other formalities required under the act are complied with like execution of a proper partnership deed, filing of proper application of registration, the tribunal will have to decide in favour of the assessee. in .....

Radhe Investments (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)99TTJ(Ahd.)777

..... asst. yr. 1992-93, so that the said adjustment(s), if at all, is bad in law. thirdly, it was contended that its application under section 88 of the finance (no. 2) act, 1998 (kvss), was, in terms of its provisions; mandatorily required to be vetted by the designated authority through the ao, and it was only on such ..... full and final settlement of its dues in respect of asst. yr. 1992-93. on compliance of the said requirement, a certificate under section 90(2) r/w section 91 of the finance (no. 2) act, 1998 was issued to it by the designated authority certifying the payment of rs. 10,360, and the full and final settlement of the ..... on 31st dec., 1998. to settle the said dispute, and consequently, the concomitant tax arrears, it filed a declaration with the designated authority, ahmedabad, under section 88 of the finance (no. 2) act, 1998, in form 1a stating the prescribed particulars, with evidence (including that in respect of the matter being in lis), and determining the tax payable under .....

The Jt. Commissioner of Vs. S.C. Chemicals

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)99ITD41(Ahd.)

..... as per the above decision of the special bench of itat.6. we have carefully considered the arguments of both the sides and perused the material placed before us. section 147 of the it act reads as under :- 147. if the [assessing] officer [has reason to believe] that any income chargeable to tax has escaped assessment 79 for any assessment year, he ..... , he has relied upon the decisions of the hon'ble jurisdictional high court in the cases of garden silk mills ltd. v.dcit 222-itr-68 (guj) and gruh finance ltd. v. jcit 243-itr-482 (guj).5.1 with regard to the merit of the addition, the learned counsel for the assessee fairly admitted that in view of ..... and, therefore, the reopening of assessment to apply explanation (baa) to section 80hhc cannot be said to be a change of opinion.11. the learned counsel for the assessee has also relied upon the decision of the hon'ble jurisdictional high court in the case of gruh finance ltd. v. jcit 243-itr-482 (guj), wherein their lordships have held .....