Judgment Search Results Home > Cases Phrase: finance act 1987 section 91 amendment of section 42 Court: chennai Page 2 of about 410 results (0.123 seconds)

A.B. Shanthi @ Venniradai Nirmala Vs. the Asst. Director of Inspection ...

Court : Chennai

Reported in : (2007)212CTR(Mad)456

..... the attention of this court to the penal section provided under section 271d of the act which was also incorporated into the statute book by direct tax laws (amendment) act, 1987 with effect from 1.4.1989 i.e. ..... ), the learned counsel for the revision petitioner would contend that after the omission of section 276dd from the income tax act, 1961 by direct tax laws (amendment) act, 1987, a prosecution cannot be launched or continued for the violation of the provisions under section 269ss of the income tax act. ..... on which section 276dd of the act was directed to be omitted by the direct tax laws (amendment) act, 1987. ..... section 276dd has been omitted from the act by the direct tax laws (amendment) act, 1987, ..... section 276dd of the income tax act, 1961 was omitted by direct tax laws (amendment) act, 1987 which came into force ..... appellants before the honourable apex court was that the offence, if at all, had been committed in the year 1985 prosecution could not be continued nor could the punishment be imposed under section 276dd of the act after it was omitted on and from 1.4.1989.after hearing the learned counsel appearing on both sides and also referring two earlier decisions rendered by the constitution benches of the honourable apex court ..... general finance company and another had received deposits from one amar singh, gurdev singh and hardev singh on different dates in the year 1985 and the said fact was disclosed ..... the honourbale apex court in : [2002]257itr338(sc) (general finance co. .....

income-tax Officer Vs. Dinesh K. Shah and ors.

Court : Chennai

Reported in : [1997]223ITR68(Mad)

..... prior to its substitution, section 276b as inserted by the finance act, 1968, with effect from april 1, 1968, and later on substituted by the taxation laws (amendment) act, 1975, with effect from october 1, 1975, and amended by the taxation laws (amendment and miscellaneous provisions) act, 1986, with effect from september 10, 1986, stood as under ..... the above section was substituted by the direct tax laws (amendment) act, 1987, with effect from april ..... 7697 of 1987 under section 482 of the code of criminal procedure to direct the registry to issue notice to him for an opportunity being given to be heard on the question ..... the assessee in its reply dated february 20, 1987, has stated that since the annual income under this head does not exceed the minimum amount liable to tax, the monthly remittance particulars in ..... therefore, a letter was issued on february 17, 1987, by the complainant to the assessee-firm requiring them to furnish monthly ..... 361 and 362 of 1987 on the file of the additional chief metropolitan magistrate (economic offences-i), madras-8 (criminal r. ..... 292 to 360 of 1987/second respondent in criminal r. ..... 268 to 291 of 1987 on the file of the additional chief metropolitan magistrate (economic offence-i), madras-8, is the firm functioning at madras and ..... 417 of 1987) furnished its return of income, which was signed by the second respondent, in the form of trading, profit and loss account and balance-sheet for the accounting year ending september 30, 1982 (assessment year .....

income Tax Officer and anr. Vs. Dinesh K. Shah and ors.

Court : Chennai

Reported in : (1997)138CTR(Mad)297

..... section was substituted by the direct tax laws (amendment) act, 1987 ..... under the laws of a country outside india, or(iii) any institution, association or body which is or was assessable or was assessed as a company for any assessment year under the indian it act, 1922 (11 of 1922), or which is or was assessable or was assessed under....this act as a company for any assessment year commencing on or before the 1st day of april, 1970, or(iv) any institution, association or body, whether incorporated or not and whether indian or non-indian ..... partner, firm and firm name, - partnership is the relation between persons who have agreed to share the profit of a business carried on by all or any of them acting for all.persons who have entered into partnership with one another are called individually partners and collectively a firm and the name under which their business is carried on is called ..... in the light of the above discussion and analysis of the relevant sections of the it act, and the indian partnership act, we have to see whether the decisions of this court in 1990 lw (crl), 478, and 1992 lw (crl), 173, are ..... section, which was inserted by the taxation laws (amendment) act ..... prior to 1st april, 1989, the breach or contravention which attracted prosecution under this section related to the failure of a person without reasonable cause or excuse, to deduct, or, after deducting to fail to pay, the tax as required by or under the ..... the finance act, ..... credited to sri finance corporation on various .....

The Commissioner of Income-tax Vs. Tamil Nadu Transport Development Fi ...

Court : Chennai

Reported in : [2008]306ITR136(Mad)

..... the change was brought in by the direct tax laws (amendment) act, 1987. ..... hence they have rightly come to the conclusion that when the assessment is made under section 143(3) of the act, no action shall be taken under section 147 of the act after the expiry of four years from the end of relevant assessment year unless there is a failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. ..... on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in upholding the order of the commissioner of income-tax (appeals) and accordingly the reopening of the assessment under section 147 read with section 148 is held as bad in law, even though the facts and circumstances of the case fall within the exemption provided in explanation ..... the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for ..... elgi finance ltd. .....

Frontier Offshore Exploration Vs. the Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Chennai

..... finance act, 1987 ..... section 40(a)(i) very clearly uses the expression "in accordance with the other provisions of chapter xvii-b", which would include section 201 also and would include the expression "the whole or any part of the tax", which has been inserted in section 201 by the finance act ..... amendment made by the finance act ..... section 4, which is the charging section and submitted that any tax shall be charged for any assessment year as prescribed under the various central act, which is generally in the form of finance act ..... where it was held that when the assessee had not deducted tax from the payments made to non-residents against various jobs relating to installation and no application under section 195(2) was made, then the assessee was under obligation to deduct tax at source and having failed to make any such deduction, the assessing officer was fully justified ..... in disallowing payments by invoking the provisions of section 40(a)(i).we think, it is immaterial whether some tax has been deducted or not and in any case, whatever tax has been deducted by the assessee.corresponding credit has already ..... he emphasized that the amendment which was made in section 201 by inserting the words "the whole or any part of the tax" have not been inserted in section 4(a)(i) and therefore this section should also be interpreted as not applicable in the absence of the .....

Sivananda Pipe Fittings Limited Vs. Superintendent of Central Excise a ...

Court : Chennai

Reported in : 1994(45)ECC77; 1994LC146(Madras)

..... union of india) is one where the apex court among other things was considering the question of the impact of section 51 of the finance act, 1982 and the constitutional validity of giving retrospective effect to the amendments to rules 9 and 49 of the central excise rules from 28.2.1944, which provided for the collection of duty levied on the production of a commodity at an intermediate stage of an integrated process of manufacture of another commodity by deeming such production ..... any specific provision overriding section 11-a, it will be consistent with rules of harmonious construction to hold that section 51, finance act, 1982 insofar as it gives retrospective effect to the amendments made to rules 9 and 49 of the rules, is subject to the provision of section 11-a. ..... section 51, finance act, 1982 has given retrospective effect to the amendments of rules 9 and provision of section 11-a of the act ..... involved is whether in view of section 51, finance act, 1982, section 11-a should be ignored or not. ..... or the authorised officer can make the application to the appellate tribunal or the collector (appeals), that the plea based on the absence of notice is misconceived, that the procedure prescribed under section 35-e of the act has been directly complied with in forwarding a copy of the appeal filed and also by inviting cross objections from the petitioners and giving a personal hearing before passing final orders by the appellate ..... in : 1987(32)elt234(sc) ( ..... in : 1987(28)elt53(sc) (gokak .....

The Salem Co-operative Sugar Mills Ltd. Vs. the Commissioner of Income ...

Court : Chennai

Reported in : (2004)187CTR(Mad)650; [2004]266ITR166(Mad)

..... the amendment which was made by the finance act of 1987 in section 43b by inserting, inter alia, the first proviso, was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee and which made the provision ..... considered the effect of the addition of the first proviso to section 43b by the finance act 1987, and held the same to be retrospective in operation. ..... it noticed the contents of the memorandum explaining the provisions of the finance bill 1983 wherein it had been stated inter alia that section 43b was aimed at curbing the practice of assessees not paying the taxes and not discharging their liabilities to ..... by the counsel for the revenue that parliament had a different intention so far as payments of amounts due under the employees provident fund act was concerned and that it had intended to treat that amount differently from the amount of tax which the assessees were required to pay. ..... revenue is as to whether the tribunal was right in restoring the order of the assessing officer in disallowing the provident fund contribution amounting to rs.1,47,584/- and administrative charges of rs.12,310/- under section 43b(b) of the act thereby reversing the order of the first appellate authority. ..... amendment was to give effect to the true intention behind the introduction of the section ..... referred to in the question were paid before the due date as defined in the explanation below clause (va) of sub-section (1) of section 36 of the act.3. .....

Life Insurance Corporation of India Vs. Commissioner of Income Tax

Court : Chennai

Reported in : (2001)166CTR(Mad)125; [2000]111TAXMAN643(Mad)

..... it is seen that section 10(14) was amended by the direct tax laws (amendment) act, 1987 with effect from 1-4-1989 and again by the finance act, 1995 with effect from 1-7-1995 ..... there was a further amendment by the finance act, 1995 with effect from 1-7-1995 which substituted the words :''as may be prescribed' for the expression 'as the central government may, by notification in the official gazette, specify' ..... the said provision was amended by direct tax laws (amendment) act, 1987 with effect from 1-4-1989 ..... consequent on the aforesaid amendment, the special allowance on benefit which is eligible for relief under section 10(14) is to be prescribed by framing rules in this regard ..... according to the income-tax department, it was not covered by section 10(14) of the act read with rule 21313 of the income-tax rules, and, consequently, not eligible for ..... 19)in reference to the question of reimbursement, the division bench observed as follows:'even according to this notification, unless the allowance is notified under section 10(14)(1) of the act, no portion of it can qualify for tax exemption (p. ..... now, no such notification was issued by the central government and therefore, the deduction under section 10(14) of the act cannot be claimed.' (p. ..... the present case, there is no reimbursement of the expenditure incurred by the development officers and, therefore, the expenditure incurred by the development officers by themselves cannot qualify for exemption under section 10(14)(1) of the act. .....

Commissioner of Income-tax Vs. Premier Mills Ltd.

Court : Chennai

Reported in : [2008]296ITR157(Mad); [2009]179TAXMAN13(Mad)

..... failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year.in addition to the time-limits provided for under ..... by the direct tax laws (amendment) act, 1987. ..... of failure on the part of the assessee to disclose fully and truly all material facts necessary for the assessment.in the present case, the tribunal had considered the above proviso to section 147 of the act and held as follows:even now, before us, the revenue could not contend that the reassessment is framed on submission of new material or information. ..... the new law has inserted a proviso to section 147 in the following words:provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the ..... on further appeals, the tribunal holding that the notice under section 148 of the act was issued after the expiry of four years from the end of the relevant assessment year and the same would amount to change ..... finance ..... finance ..... finance .....

Cit Vs. A.V. Thomas Exports Ltd.

Court : Chennai

Reported in : [2008]296ITR603(Mad)

..... part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year.in addition to the time-limits provided for under ..... was brought in by the direct tax laws (amendment) act, 1987. ..... the new law has inserted a proviso to section 147 in the following words:provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the ..... has applied the correct principle of law and held as follows:but whether recourse to section 147 could be made beyond four yearsis the real question in the present appeal. ..... further, it is submitted that there was excessive deduction under section 80hhc of the act which enabled the revenue to reopen the assessment under the provision ..... annamalai finance ltd : [2005]273itr451(bom) it was held that section 147 of the act does not postulateconferment of power upon the assessing officer to initiate reassessment proceedings upon a mere change .....