Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1993)46ITD157(Mad.)
..... one difficulty readily suggested itself and that was that the finance act does not prescribe the rate of taxation for any category other than the seven categories enumerated in section 2(31) of the act.therefore, the fact that section 2(31) contains an inclusive definition of the term "person" ..... if one travelled outside the inclusive definition contained in section 2 (31), one would face difficulties in administering the act because the finance act does not prescribe the rate of taxation for any category other than the seven categories enumerated in section 2(31) of the act. ..... true status to be assigned to the assessees.this, in turn, led them into the further error of holding that the assessees are not entitled to deduction under section 80l of the act.according to shri ramamani, the reference in section 164 to maximum marginal rate applicable in relation to the highest slab of income in the case of association of persons has a narrow focus, namely, the rate ..... sections 80c, 80l and the like.further, as pointed out earlier, the rate of taxation applicable to discretionary trusts are already statutorily fixed.in this connection, shri bose referred to the 1980 amendment of section 164 and the notes on clause 27 of the finance ..... 1983] 142 itr 149 in which it has been held that, when the shares of the beneficiaries were indeterminate, "tax should be levied at the rate of 65 per cent as laid down in the it act itself, without allcwing the basic exemption as laid down in the finance act .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1992)40ITD384(Mum.)
..... clause (1) of section 80hhc which was first inserted by the finance act, 1983, w.e.f.1-4-1983, spoke of 'exports out of india', whereas clause (1) of the amended section, as it stood from 1-4-1986, spoke of an assessee who is engaged 'in the business of export out ..... in the present appeal, concerned with the assessment year 1984-85 when section 80hhc as it stood before its amendment by the finance act, 1985 which became effective from 1-4-1986, was applicable. ..... the appellant's case.the learned departmental representative pointed out that the language of section 80hhc, as it stood before its amendment by the finance act, 1985, with effect from 1-4-1986, was slightly different. ..... vissanji argued that the retrospective amendment in finance bill, 1991, to section 80hhc, by negative implication directly supported the stand of the assessee [190 itr ..... mishra [1978] 114 itr 753 where the delhi high court held that the incentive provided by section 280-zc of the income-tax act, 1961, to the person who exports goods during the material period was intended to be given to the real exporter and not merely to the ..... vissanji pointed out that the provisions of section 80hhc were proposed to be amended from 1st of april 1992 and the amended provisions were to become effective in relation to the assessment year 1992 ..... whereas the amended section speaks of an assessee being an indian company or a person (other than a company) resident in india, which is engaged in the business of exports out of india of any .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)288ITR226(Hyd.)
..... retrospective or otherwise nature of amendment of section 40 of finance act, 1983 by finance act, 1988, for purposes of wealth tax act, the hon'ble madras high court held- the test to be applied for deciding as to whether a later amendment should be given retrospective effect, despite a legislative declaration specifying a prospective date as the date from which the amendment is to come into force, is as to whether without the aid of the subsequent amendment, he unamended provision is capable of being so construed as to take within its ambit the subsequent amendment. ..... the amendment effected to section 40 of the finance act, 1983, by the finance act, 1988, exempting stock-in-trade is only prospective and not retrospective.gujarat ..... there is no distinct and independent charge whereby surcharge can be said to have been levied on undisclosed income determined for a block period under chapter xivb.12.72 even otherwise, we find that the finance act(s), prior to amendment in section 113 of the act, did not satisfy the four components which enter into the concept of tax and some of these components are not clearly and definitely ascertainable, in order to be treated as an independent and distinct levy ..... the exclusion of stock in trade from the ambit of levy of wealth-tax on assets of closely held companies in section 40(3) of the finance act, 1983 could not per se be regarded as an "obvious omission" nor is giving it immunity from the levy of wealth-tax necessary for reasonably interpreting .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2004)192CTR(SC)481; [2004]271ITR322(SC); 2004(9)SCALE647; (2005)1SCC289
..... section 89a was subsequently re-enacted by the finance act 1983 as section 8q-hhc of the act ..... were to hold that the word 'minerals' in sub-section 2(b) never included processed minerals then the 1991 amendment excepting processed minerals from the exclusionary effect of the sub section would be rendered meaningless and an exercise in futility.14. ..... it is clear from the language used that the cbdt gave its understanding of sub-section 2(b) of section 80hhc as it stood prior to the 1991 amendment with regard to diamonds and gem stones alone having regard to the peculiar facts and features relating to the export and import ..... to this question would lie in the interpretation of sub-section 2(b) of section 80-hhb as it stood prior to its amendment and as it stands after 1991. ..... also the contention of the appellant that the amendment was declaratory and therefore would take effect from the date on which the section 80hhc was introduced into the statute. ..... there was no ambiguity in section 80-hhc(2)(b) prior to its amendment it does not in any event appear that the government had sought to grant blanket incentive to ..... the amended section in so far as it is relevant reads:'(b) this section does not apply to the following goods or merchandise, namely:-(i) mineral oil; and(ii) minerals and ores [(other than processed minerals and ores specified in the twelfth ..... the 1991 amendment to section 80-hhc thus conclusively demonstrates that the words 'minerals and ores' must be construed widely and in an .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)106ITD256(Hyd.)
..... retrospective or otherwise nature of amendment of section 40 of finance act, 1983 by finance act, 1988, for purposes of wealth tax act, the hon'ble madras high court held- the test to be applied for deciding as to whether a later amendment should be given retrospective effect, despite a legislative declaration specifying a prospective date as the date from which the amendment is to come into force, is as to whether without the aid of the subsequent amendment, he unamended provision is capable of being so construed as to take within its ambit the subsequent amendment. ..... the amendment effected to section 40 of the finance act, 1983, by the finance act, 1988, exempting stock-in-trade is only prospective and not retrospective.gujarat ambuja ..... the exclusion of stock in trade from the ambit of levy of wealth-tax on assets of closely held companies in section 40(3) of the finance act, 1983 could not per se be regarded as an "obvious omission" nor is giving it immunity from the levy of wealth-tax necessary for reasonably interpreting ..... the retrospectivity, would have to be examined in the appellate proceedings, if instituted by the assessee.7.6 in the light of the foregoing discussion, we find that the commissioner has no power to cancel the registration, prior to insertion of sub-section (3) of section 12aa by the finance act, 2004 with effect from 1.10.2004 nor does the said amendment have any retrospective operation and as such the impugned order dated 26.7.2004 has no legal sanctity. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1994)49ITD484(Mum.)
..... if we look at the original section 80hhc, introduced by the finance act, 1983 with effect from 1-4-1983, the scheme for deduction in respect of export turnover was quite different ..... thereafter, section 80hhc was substituted by the finance act, 1985 with effect from 1-4-1986 and a different scheme of deduction was ..... in this regard, we have also noted that the order under section 263 of the act was passed on 30-12-1988 when the benefit of the amendment brought by the finance (no. ..... in the case of jamshedpur motor accessories stores (supra), the patna high court was considering the amendment to section 43b, by the finance act, 1987, with effect from 1-4-1988. ..... the learned departmental representative, on the other hand, relied on the order of the commissioner under section 263 of the act and also emphasised that explanation (ba) below section 80hhc does not use an expression "for the removal of doubts" and gives a specific date of 1 -4-1987 for retrospective ..... the learned counsel for the assessee submitted before us further that the above retrospective amendment had been made in order to remove an anomaly as was clear from the following extract from cbdt circular no ..... 32.20 this amendment takes effect retrospectively from 1st day of april, 1987, the day from which 'total turnover' became relevant for the purpose of computation of deduction under section 80hhc. ..... in view of this, he argued that the amendment should be treated as clarificatory and applicable to assessment year 1986-87 also .....
Tag this Judgment!Court : Delhi
Reported in : [1995]55ITD144(Delhi)
..... 'thus the scope of section 35cca as originally inserted by the finance act, 1978 and effect of amendment made by finance act, 1983 has been explained by their lordships of gujarathigh court as stated above. ..... june 1, 1978, before its amendment by the finance act, 1983, an assessed was entitled to claim deduction of expenses incurred on account of donations to any institution or association which has as its objects the undertaking of any programme of rural development, provided both the programme and the association or institution ..... act, 1961, as amended by the finance act, 1983, an assessed will be entitled to deduction of expenses incurred on account of donation made to any institution or association for the purposes of approved rural development programme or for the training of persons for implementing programmes of rural development or to a rural development ..... in any case after having once allowed the deduction, the same could not have been withdrawn under section 148 of the act which would amount to change of opinion on the part of the assessing officer. ..... the fact however remains that the proceedings under section 147 of the act were initiated to regular the revised return filed by the assessed declaring an income of rs. .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)190CTR(Guj)481; [2004]270ITR347(Guj)
..... section 80hhc was inserted in the statute book by the finance act, 1983 ..... insofar as the other three assessment years are concerned, namely, assessment years 1986-87 to 1988-89, it is apparent that the proviso only requires that an amount equal to the amount of deduction claimed under sub-section (1) of section 80hhc of the act is debited to the profit and loss account and credited to a reserve account which is to be utilised for the purposes of the business of the assessee, and such debit and credit have to be made ..... the finance act, 1988 with effect from 1.4.1989, section 80hhc was substituted and the substituted section did ..... section came to be substituted by the finance act ..... not applicable with effect from assessment year 1989-90 and hence there being no requirement, no breach can be ascribed to the assessee;(iv) that by way of statutory amendment, proviso to sub-section (1) of section 80hhc of the act was not applicable and hence there was no requirement in law to maintain the reserve as the proviso itself had been deleted with effect from 1.4.1989;(v) that merely ..... of the fact that the assessments have been sought to be reopened after a period of four years from end of each of the assessment years in question, the provisions of section 147 of the act mandate that the assessing officer shall be vested with the jurisdiction to initiate reassessment proceedings only in case there is any omission or failure on the part of the assessee to disclose ..... section underwent various amendments .....
Tag this Judgment!Court : Allahabad
Reported in : (2009)225CTR(All)188; [2009]315ITR48(All)
..... the definition was changed by the income-tax act, 1961, especially after an amendment in section 2(15) by the finance act, 1983, with effect from 1st april, 1984.26. ..... further alleged that the central board of direct taxes through its director (investigation), vide letter dated january 18, 1999, asked the chief commissioner of income-tax, lucknow, to forward the application under section 10(23c)(vi) of the act along with recommendation within one month of the receipt of the application, the additional commissioner of income-tax, range-i, lucknow, recommended to the commissioner of income-tax, vide letter dated september 7, ..... to the chief commissioner of income-tax, lucknow, endorses the views/recommendations of the commissioner of income-tax, lucknow, that the institute fulfils the condition for the grant of exemptions under section 10(23c)(vi) of the income-tax act, 1961.third letter of recommendation dated 16-2-2001:by this letter dated february 16, 2001, fresh recommendation has been sent to the central board of direct taxes, new delhi, which reads as under ..... 2000 (m/b) and during the pendency of the said writ petition, the assessee has also pursued its application dated february 4, 1999, and other applications for subsequent assessment years for exemption under section 10(23c) of the act but, according to the petitioner, no action was taken by the department in spite of correspondences made with the central board of direct taxes (hereinafter referred to as 'the cbdt') on .....
Tag this Judgment!Court : Mumbai
Reported in : (2004)188CTR(Bom)232; [2004]267ITR488(Bom)
..... cbdt : [1997]223itr271(sc) , the apex court has made use of one of such circulars to understand the purport of section 80-o of the act the circular dt 3rd aug , 1990, which was issued by the cbdt to explain the substance of the provisions relating to direct taxes in the finance act, 1990 and one of such provisions explained therein is section 80hhc of the act thus, to explain the scheme and various shades of section 80hhc r/w section 28, as amended by the finance act, came to be illustrated by the following examples(rs. ..... the finance act, 1985, has again substituted section 80hhc with that of new section 80hhc w e f 1st april, 1986 section 80hhc has been further amended by the taxation laws (amendment and miscellaneous provisions) act, 1986, w e f 1st april, 1987, and remained operative for the asst yrs 1987-88 and subsequent years by the direct tax laws (amendment) act, 1989, sub-sections (1) and (1a) further came to be amended and those amendments were made operative for and from asst yr 1989-90, the details of which are ..... the finance act, 1983, has omitted the aforesaid provisions w e f 1st april, 1983 simultaneously, a new section 80hhc came to be inserted with effect from the same date for providing a deduction with reference to the export turnover the said section 80hhc remained operative for the asst yrs 1983-84 to 1985-8616. .....
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