Judgment Search Results Home > Cases Phrase: finance act 1984 section 2 income tax Court: income tax appellate tribunal itat chandigarh Page 6 of about 517 results (0.210 seconds)

S. Pala Singh Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1992)41ITD482(Chd.)

..... -tax officer in bringing the sale proceeds of the agricultural land to tax under the head 'capital gains' relying simply upon an explanation appended in section 1(a) of the income-tax act by the finance act, 1989. 2. that the learned cit (appeals) was also not justified in rejecting ground no. 3 wherein it was contended before him that ..... on prolonged litigation should not have been out rightly rejected.2. as regards ground no. 1 in view of the retrospective amendment of section 2(1 a) of the income-tax act, 1961 by the finance act, 1989 w.e.f. 1-4-1970, the issue has got to be decided against the assessee.adopting the reasoning and conclusions of ..... received by the sons of the assessee in the hands of assessee's huf. 4. that the learned cit (appeals) should have completely allowed deduction under section 54b of the it act, 1961 and inevitable delay of 4 months made towards reinvestment of sale consideration should have been condoned. 5. that allowance of development expenses of rs. 50, .....

Mascon Technical Services Ltd. Vs. Asstt. Cit, Central Circle Iii (2)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)3SOT861(Chd.)

..... considered opinion that the assessee would have liberty to claim deduction under any provision chosen by it because both the provisions remained in the act. before the amendment made by the finance act, 1997 with effect from 1-4-1998, section 80-o was also available for "any income by way of royalty, commission, fees or any similar payment received by the assessee from ..... -o in earlier years. no such approval was required after the amendment was made by the finance act, 1991, with effect from 1-4-1992.he then referred to section 80hhb. he brought to our attention sub-section (5) of this section in which it is provided that against the income from foreign project, no deduction can be claimed under this chapter under the heading .....

D.N. Thakur Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)105ITD692(Chd.)

..... the scope of definition of 'income'. prior to april, 2002, there was no definition of lottery under the income-tax act, 1961. so however, in the finance act, 2001 an inclusive definition was provided by insertion of an explanation below section 2(24)(ix) which reads as under: (i) 'lottery' includes winnings, from prizes awarded to any person by ..... within the definition of 'lottery' under the income-tax act, 1961.7. i have given my careful consideration to the rival contentions.section 2(24) defines the income for the purpose of chargeability of tax under the income-tax act, 1961. clause (ix) was inserted to section 2(24) by the finance act, 1972 which reads as under: (ix) any winnings ..... from the company to the assessee and the element of lottery was not involved. my attention was invited to the definition of the 'lottery' under section 2(24)(ix) of the act and it was contended that the receipt of matiz car from the company was neither a lottery nor involving any other sort, the same being .....

inspecting Assistant Vs. Punjab United Pesticides and

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1989)31ITD535(Chd.)

..... was non est in law because it contained basic infirmity and it could not be amended or ratified. section 139(9) was brought on the statute book by finance act,1980 w.e.f. 1-9-1980 wherein the income-tax officer could call upon the assessee to ..... any, in the return filed on 28-6-79 in view of the requirement of section 140(c) of the act was also made good by the subsequent return filed on 19th sept., 1984 and the return this dated back to 28-6-79, that the second return filed ..... place of the secretary of the company signing the verification of the return filed on 28-6-1979, the return filed on 19-9-1984 had been signed by the director, otherwise the two returns were identical in their contents and claims. therefore, when the assessee received the ..... invited to a judgment of the hon'ble punjab & haryana high court in the case of cit v. dr. krishan lal goyal [1984] 148 itr 283, wherein, it was pointed out to the assessee by the inspecting assistant commissioner of income-tax (asst.), it had been .....

income-tax Officer Vs. Smt. Lajwanti Devi

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1998)66ITD95(Chd.)

..... for concealment of income. it was only with a view to overcome the difficulties caused by the anwar ali's case (supra) that explanations were added below section 271(1)(c) initially by the finance act, 1964 and thereafter by various amendments whereby to a case where explanation applied, the onus was shifted towards the assessee instead of the department. however, in a ..... plea is of no help to the assessee.explanation 5 added by the taxation laws (amendment) act, 1984 w.e.f.1st october, 1984 enlarges the ambit of section 271(1)(c) bringing within its sweep a new category of default for inflicting penalty for concealment under section 271(1)(c).the newly inserted explanation 5 enacts deeming provision and has application to a situation .....

Deputy Excise and Taxation Vs. Income-tax Officer (Tds)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2001)77ITD108(Chd.)

..... state can carry on a trade or business, such a charge is the normal incident of a trading or business transaction. (iv) with reference to the explanation to section 206c as inserted by finance act, 1992, the cit(a) opined as follows :- in my opinion, it is clear that the explanation creates two distinct types of buyer i.e. (i) a person ..... and 206c as they then stood and not advancing revenue's case whereas ramjee prasad sahu's case (supra) dealt with the provisions of section 206c as were introduced by the finance act, 1992 w.e.f. 1-4-1992 holding that 15% of the excise duty payable by the petitioners on account, of purchase of country liquor could not be ..... accepted offer in case of tender or any other mode. the said provisions were omitted by the finance act, 1992 w.e.f. 1-4-1993. as a result, the provisions of section 206c were also suitably amended. it may be mentioned that under section 206c, the liability is on the seller to collect the tax from the buyer of alcoholic liquor .....

Deputy Excise and Taxation Vs. Income Tax Officer (Tds)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2000)77ITD108(Chd.)

..... state can carry on a trade or business, such a charge is the normal incident of a trading or business transaction." (iv) with reference to the explanation to section 206c as inserted by finance act, 1992, the commissioner (appeals) opined as follows : "in my opinion, it is clear that the explanation creates two distinct types of buyer i.e. (i) ..... and 206c as they then stood and not advancing revenues case whereas ramjee prasad sahu's case (supra) dealt with the provisions of section 206c as were introduced by the finance act, 1992 with effect from 1-4-1992 holding that 15 per cent of the excise duty payable by the petitioners on account of purchase of country liquor ..... offer in case of tender or any other mode. the said provisions were omitted by the finance act, 1992 with effect from 1-4-1993. as a result, the provisions of section 206c were also suitably amended. it may be mentioned that under section 206c, the liability is on the seller to collect the tax from the buyer of alcoholic .....

H.P. State Forest Corpn. Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2002)80ITD591(Chd.)

..... assessment was set aside by the tribunal on 28th march, 1942, on the ground that the indian finance act, 1939, was not in force during the asst. yr. 1939-40 in chota nagpur. on a reference under section 66 of the it act, 1922, the high court agreed with the view of the tribunal. on 30th june, 1942, bihar ..... march, 1980, and 17th march, 1981, respectively. the assessment for the asst. yr. 1971-72 was completed under section 144 on 29th march, 1984, while for the asst. yr. 1972-73, the assessment was completed under section 143(3) on 20th feb., 1985. on appeal, the assessee contended before the first appellate authority that assessments had become ..... time for both the years and further assessments completed on 29th march, 1984, and 20th feb., 1985, were invalid because they were completed on the basis of fresh notices issued under section 148 i.e., at a time when the original proceedings initiated under section 148 were still pending. the tribunal ultimately annulled the assessments made on .....

Naresh Prabhakar (Huf) Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2002)74TTJ(Chd.)1010

..... so, notwithstanding the fact that there has been no determinable point of time between the expiry of the time provided under the old act and commencement of the amending act. the legislature has given to section 18 of the finance act, 1956 only a limited retrospective effect, i.e., upto i-4-1956 only. that provision must be read subject to the ..... of s.s. gadgil v. lal & co. (supra) where it was observed as under : but the authority of the income tax officer under the act before it was amended by the finance act, 1956, having already come to an end, the amending provisions will not assist him to commence a proceedings even though at the date when he issued ..... . the aforesaid order has also been approved by the punjab & haryana high court by rejecting the reference sought by the revenue under section 256(2) of income tax act. the amendment in sub-section (1) of section 150 was introduced with effect from 1-4-1989 and cannot apply to cases where the limitation period had already expired. in the .....

Naresh Prabhakar (Huf) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... , notwithstanding the fact that there has been no determinable point of time between the expiry of the time provided under the old act and commencement of the amending act. the legislature has given to section 18 of the finance act, 1956 only a limited retrospective effect i.e. upto 1st april, 1956 only. that provision must be read subject to the ..... the case of s.s. gadgil v. lal & co. (supra) where it was observed as under: but the authority of the ito under the act before it was amended by the finance act, 1956, having already come to an end, the amending provisions will not assist him to compence a proceedings even though at the date when he issued ..... others. the aforesaid order has also been approved by the punjab & haryana high court by rejecting the reference sought by the revenue under section 256(2) of it act. the amendment in sub-section (1) of section 150 was introduced w.e.f. 1st april, 1989 and cannot apply to cases where the limitation period had already expired. in the present .....