Judgment Search Results Home > Cases Phrase: finance act 1983 section 29 omission of section 80mm Court: income tax appellate tribunal itat delhi Page 1 of about 37 results (0.119 seconds)

Bhagwan Dass Khanna Enterprises Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2001)78ITD151(Delhi)

..... on which section 43b was inserted by the finance act, 1983. ..... view to securing the benefit under section 80hhd for all the segments of the tourism industry, section 80hhd was amended by the finance act, 1991, w.e.f.1-4-1992, by inserting, inter alia.explanation to sub-section (2) and sub-section (2a), which read as under:-- ..... let us now analyze the nature of the amendments made in section 80hhd by the finance act, 1991 in the light of the legal propositions set out ..... provision is retrospective or not.9.1 on a careful consideration of the facts and circumstances of the case in its entirety and in view of the foregoing discussion we hold that the above referred amendments made by the finance act, 1992 by introducing explanation to section 80hhd(2) and sub-section (2a) are retrospective in nature. ..... " if the amendment in section 80hhd, introduced by the finance act, 1991 is considered in the light of the above propositions, it would emerge that the same having been introduced to remedy unintended consequences, has to be ..... inserted to remedy unintended consequences and to make the provision workable, a proviso which supplies an obvious omission in the section and is required to be read into the section to give the section a reasonable interpretation, requires to be treated as retrospective in operation, so that a reasonable interpretation can be given to the section as a whole. ..... act is generally passed to supply an obvious omission or to clear up doubts as to the meaning of the previous act .....

income-tax Officer Vs. Hydle Constructions (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1983)6ITD575(Delhi)

..... in other words, a company engaged in construction of a building, road, dam, bridge or other structures would get the benefit under the finance act, 1983, even if they do not involve the company in manufacturing or processing of goods to a substantial extent. ..... the main points involved in these appeals are common and they relate to the assessee's claim for being treated as an industrial company as defined in section 2(9)(c) of the finance act, 1976 (similar in other years finance acts) and the claim of the assessee for relief under section 80j of the income tax act, 1961 ('the act'). ..... the departmental representative tried to strengthen his case by referring to the change in the definition of 'industrial company' in the finance act, 1983. ..... of the assessee, in later assessment years, namely, 1977-78 and 1978-79, the commissioner (appeals) has held that the assessee was not an industrial company for the purposes of concession in the rate of tax under the finance act.however, the assessee's claim for being treated as an industrial undertaking under sections 80j and 80hh of the act was accepted by the commissioner (appeals) in both the years. ..... if two definitions are similar, the same meaning should be given but if there are certain distinguishing features like omission of a requirement or addition of some term, the significance of such omission or addition has also to be kept in view. .....

Asian Hotels Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)81ITD127(Delhi)

..... rendered to the foreign tourists.with regard to the provisions of sub-section (2a) inserted by the said finance act, i am of the view that this is only a machinery provision for allowing the correct amount of deduction under the above section.in this particular case, there is no doubt about the genuineness of ..... in section 64 by the finance act, 1979, though not in terms retrospective, serves as a parliamentary exposition of the meaning of the word 'income' as used in the unamended section, for, that word, in the context of section 64, ..... finance act, 1979 which reads as follows : "for the purpose of this section ..... the p&l a/c of the previous year in respect of which the deduction is to be allowed and credited to a reserve account to be utilised for the purposes of the business of the assessee in the manner laid down in sub-section (4) : provided that a hotel or, as the case may be, a tour operator approved-by the prescribed authority on or after the 30th day of november, 1989, and before the 1st day of october, 1991, shall be deemed to ..... account; and (viii) to examine whether a proviso/provision is intended to remedy unintended consequences and to make the existing provision workable, a proviso which supplies an obvious omission and which is required to be read into the section to give it a reasonable interpretation and under both the aforesaid situations a retrospective effect is to be given.39. ..... badri prasad agarwal (1983) 142 itr 353 (mp) which has been referred to with approval .....

Jindal Strips Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)47ITD349(Delhi)

..... be reduced by- (i) the amount of income-tax payable by the company in respect of its total income under the provisions of the income-tax act after making allowance for any relief, rebate or deduction in respect of income-tax to which the company may be entitled under the provisions of the said act or the annual finance act and after excluding from such amount- (a) the amount of income-tax, if any, payable by the company in respect of any income referred to in ..... deduction was the amount of income-tax payable by the company in respect of the total income under the provisions of the income-tax act after making allowance for any relief, rebate or deduction in respect of income-tax to which the company may be entitled under the provisions of the income-tax act or the finance act, after excluding from such amount, the amount of income-tax, if any, payable by the company under the provisions of the ..... clause (i) or clause (ii) or clause (tit) or clause (vii) of rule 1 included in the total income; (b) the amount of income-tax, if any, payable by the company under the provisions of the annual finance act, with reference to the relevant amount of distributions of dividends ..... this is an appeal arising out of an assessment made for surtax for the assessment year 1983-84. .....

The Dy. Commissioner of Vs. Shri Bhim Singh Lather

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)282ITR151(Delhi)

..... compensation received by the assessee pertained to compulsory acquisition of property in tenancy right and not the ownership right and the tribunal held that compensation in respect of tenancy right is not liable to capital gains tax under section 55(2) since section 55(2)(a) was substituted by finance act, 1994 with effect from 1-4-1995 including the tenancy right infer alia within the definition of "capital asset" having cost of compensation as nil.23. ..... to obviate this difficulty sub-section (5) was added to section 45 by the finance act, 1987 with effect from 1-4-1988. ..... he also invited attention to provisions of sub-clause (c) of section 45(5) and submitted that the cases referred to above were all before the introduction of clause (c) which was with effect from 1-4-2004 added by finance act, 2003, explanatory notes where of are reported in 263 itr 62 (st. ..... by finance act, 2003 in section 155 reads as under:- (16) where in the assessment for any year, a capital gain arising from the transfer of s capital asset, being a transfer by way of compulsory acquisition under any law, or a transfer, the consideration for which was determined or approved by the central government or the reserve bank of india, is computed by taking the compensation or consideration as referred to in clause (9) or, as the case may be, the compensation or consideration enhanced or further enhanced as referred to in clause (b) of sub-section (5) of section .....

State Trading Corpn. of India Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)36ITD497(Delhi)

..... the above explanation was substituted by the new explanation by the finance act, 1988 with effect from 1-6-1988 and the explanation, clause (c) as substituted with effect from 1-6-1988 was as follows :- explanation - for the removal of doubts, it is hereby declared, for the purposes of this sub-section,- (c) where any order referred to in this sub-section and passed by the assessing officer had been the subject matter of any appeal, the ..... it was next contended by shri srivastava that the explanation to section 263(1) substituted by the finance act, 1988 with effect from 1-6-1988 would not make any difference for the reason that the explanation was substituted with effect from 1-6-1988 and, therefore, it would not ..... we are clearly of the opinion that the decisions cited on behalf of the assessee in support of the theory of total merger no longer hold good in view of the explanation, clause (c) to section 263(1) which has been retrospectively amended by the finance act, 1989. ..... no doubt, substituted with effect from 1-6-1988 and it was also amended with effect from that date by the finance act, 1989, yet a plain reading of this clause clearly indicates that the legislature intended to give it a retrospective ..... this authority supports the view that the amendment introduced in the explanation by the finance act, 1989 with affect from 1-6-1988 is retrospective in operation with the result that it would apply retrospectively even to ..... [1983] ..... year 1983-84 it was found by ..... year 1983-84 was .....

M/S. L.G. Electronics India Private Limited Vs. the Asstt. Commissione ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... submitted that the expression in the nature of has been clarified by way of insertion of explanation to section 92b by the finance act, 2012 with retrospective effect from 1-4-2002, but the case under consideration does not fall in any of the sub-clauses of clause (i) of the explanation to section 92b so as to be called as an international transaction. 14.2. ..... the finance act, 2001, has substituted the existing section 92 by new section 92 and 92a ..... sub-section (1), there is sub-section (2) followed by the explanation with two clauses, inserted by the finance act, 2012 ..... to sub-section (2a) of section 92ca, inserted by the finance act 2011 w.e.f ..... substituted by the finance act, 2001 with sections 92 to 92f ..... (2b) of section 92ca by the finance act 2012 with retrospective effect ..... , the transfer pricing officer needs to determine the arm's length price in respect of the international transaction made by the domestic entity, with the foreign entity, which is its associated enterprise within the meaning of section 92a of the act, taking into consideration all the rights obtained and obligations incurred by the two entities, including the advantage obtained by the foreign entity. (4). p. ..... 37, before its omission, provided that where the expenses incurred by the assessee on any one or more of the items specified ..... the omission of reference to some of such cases in the order is either due to their irrelevance or to ease the order from the burden of the repetitive ratio decidendi laid down in such .....

Vinod Khatri Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)82TTJ(Delhi)911

..... to the learned counsel, the legislative intention in introducing clause (d) by the finance act, 1999 is to specifically provide that, in case of appeals which involve penalties under various sections of the it act like sections 269d, 271b, 271d and 271 etc. ..... "filing fee for appeals before tribunal--the finance act has amended section 253 enhancing the fee to be paid for filing appeals before ..... it may be pointed out that by finance act, 1999 section 253(6) was amended by adding clause ..... such appeals are obviously not linked with the assessed income and, therefore, a separate clause has been inserted by the finance act, 1999, to provide for levy of fees in the residuary group of appeals which are not related to the assessed ..... the finance act, 1999 inserted clause (d) to section 253(6) with a view to provide for payment of fee in appeals which fall in the residuary group and are not relatable to the ..... of india (1984) 150 itr 714 (p&h) the hon'ble punjab and haryana high court has observed as under: "held, that merely because the addition had been made on estimate under the proviso to section 145(1) by adopting the view that the gross profit shown in the books of account was too low as there were defects in the method of accounting employed, did not automatically lead to the conclusion that ..... cit (1983) 141 itr 326 (bom) the hon'ble bombay high court has observed that if initially the tribunal did not have jurisdiction to adjudicate on a finding of the ito as it was not the subject-matter .....

R.S. Avtar Singh and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)14ITD366(Delhi)

..... these were : (a) for levy of a lower rate of tax provided for an industrial company under the provisions of section 2(9)(c) of the finance act, 1976 ; while considering these separate claims, the full bench took note of the distinctive statutory provisions applicable in respect of the three claims. ..... find out whether the company was mainly engaged in the activity of manufacturing or processing of goods and only after ascertaining those facts he must come to the conclusion whether the definition of 'industrial company' as given in the finance act was satisfied or not.since no such enquiry was made in this case in his considered view, the ito erred in allowing the investment allowance and the commissioner was justified in setting aside those assessments. ..... if there are certain distinctive features like omission of a requirement or addition of some term, the significance of such omission or addition must also be kept in view.the full bench after an exhaustive examination of the case law dealing with their claims arising under the separate statutory provisions proceeded to record its finding on each of the three claims as follows : as far as claim for a lower rate of tax under the finance act, 1976 was concerned, the full bench ..... the learned counsel further contended that when the commissioner passed the orders on 24-6-1983, the decision of the full bench of the tribunal which was rendered on 20-10-1983 was not available. ..... [1983] 6 itd 575 (delhi). .....

Addl. C.i.T., Special Range-5 Vs. Vestas Rrb India Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)275ITR81(Delhi)

..... shiv dayal radhey shyam 259 itr 147 by observing that first proviso to section 43b of the act inserted by the finance act, 1987 is retrospective and if the sales tax had been paid after the due date but during the grace period allowed under the sales tax act that does not attract provisions of section 43b of the act. ..... initially the first proviso was inserted in section 43b by the finance act, 1987 w.e.f. ..... however, the proviso clause to section 43b stands amended by the finance act, 2003. ..... in this regard is reproduced as under so as to show that the amendment was made to do away the hardship caused by the total disallowance; in terms of the provisions of section 43b of the income tax act, deduction for statutory payments relating to labour, taxes and state and public financial institutions are allowed as deductions, if they are paid during the financial year. ..... case the amendment is not accepted to be operative retrospectively, then the amendment so brought in to statute by the finance act, 2003 would produce inequitable and illogical results. ..... the finance act, 2003 has deleted the second proviso and amended the first proviso by the finance act, 2003 ..... assessee's plea that due to financial crisis payment could not be made and delay may be condoned was not accepted as the ao was of the view that for non compliance of mandatory provisions as contained in section 43b and section 36 (1) (va) of the act, the deposit having not been made within the time specified, have to be disallowed.5. .....