Court : Chennai
Reported in : [2008]296ITR573(Mad)
..... brought in by the direct tax laws (amendment) act, 1987. ..... the part of the assessee to make a return under section 139 or in response to a notice issued under subsection (1) of section 142 or section 148 or to disclose full) and truly all material facts necessary for his assessment for that assessment year.in addition to the time-limits provided for under ..... 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 ..... 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 ..... in case where the assessment is completed under section 143(3) of the income tax act, the reopening of the assessment under section 148 beyonfl the period of four years at the end of the relevant assessment year can be sustained only if it is established that there is a failure on the part of the assessee to disclose fully and ..... finance ..... finance .....
Tag this Judgment!Court : Chennai
Reported in : [2003]260ITR656(Mad)
r. jayasimha babu, j.1. the question referred to us, at the instance of the revenue, for our consideration, is as follows :'whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in holding that demurrage charges received by the assessee are not includible in the assessee's total income and accordingly in allowing the appeal filed by the assessee ?'2. the assessment years are 1983-84, 1984-85 and 1987-88.3. subsequent to the date of the tribunal's order the applicable provision of the income-tax act was amended by the finance act, 1997, with effect from april 1, 1976, thereby making the amended law applicable for these assessment years as well. section 44b which is a special provision for computing profits and gains of shipping business in the case of non-residents, under the explanation that was added by the finance act, 1997, expressly provides that demurrage charges or handling charges or any other amount of similar nature shall be regarded as the part of the amount paid or payable to the person engaged in the business of operation of ships on account of the carriage of passengers, livestock, mail or goods shipped at any port in india. in this case, as the amount of demurrage was admittedly received in india, the amended provision is clearly applicable. the question is, therefore, answered against the assessee and in favour of the revenue.
Tag this Judgment!Court : Chennai
Reported in : [2005]146TAXMAN25(Mad)
..... 'section 35c was introduced by the finance act, 1968, with effect from 1-4-1968, and was deleted by the direct tax laws (amendment) act, 1987, with effect ..... the entire expenditure incurred for the maintenance of motor vehicles in the cane department as well as the travelling expenditure incurred in the cane department would come within the qualifying expenditure as mentioned in clause (b) of section 35c of the act, the assessing officer was justified in apportioning the expenditure and disallowing a portion thereof and the disallowance was, in our view, rightly upheld by the appellate tribunal. ..... following question of law for consideration :'whether, on the facts and circumstances of the case, the appellate tribunal was right in law in holding that the assessee was not entitled to weighted deduction under section 35c of the income tax act, in respect of the entirety of the expenditure incurred by way of motor vehicle maintenance of the cane department, transport of fertilisers and travel expenses of the cane department ?'1. ..... in holding that the assessee was not entitled to weighted deduction under section 35c of the act in respect of the entire expenditure on the maintenance of motor vehicles in the cane department and the travelling expenses in the cane department, but the appellate tribunal was not right in holding that the assessee was not entitled to weighted deduction under section 35c of the act in respect of the entire expenditure incurred on the transport of fertilisers. .....
Tag this Judgment!Court : Chennai
Reported in : [2007]288ITR566(Mad)
..... that, by virtue of the expression the export of any goods or merchandise to which this section applies employed in section 80hhc and by virtue of sub-section 2(b)(ii), which specifically denied the benefit of the section to export of granite (mineral), the benefit under section 80hhc is not available to the assessee; that by the amendment act 2 of 19 91, an exception has been carved out to the specific provision which excluded, rather denied the benefit conferred under section 80hhc to export of minerals (granite); that the amendment brought by the finance (no. ..... 2) act of 1991 to section 80hhc of the income tax act is only prospective and effective from april 1, 1991, and for the assessment years 1987-88 and 1989-90 under consideration, the statutory provision is very clear in the sense that section 80hhc of the income tax act is not applicable to the export of granite.in the result, these appeals are dismissed, the questions of law are answered in affirmative and in favour of the revenue.
Tag this Judgment!Court : Chennai
Reported in : 2001(134)ELT618(Mad); 2006[2]STR411; [2007]6STT49
..... that undoubtedly was the requirement but, that is not necessary any more in view of the clearest possible language of the amended provisions like section 65(38) of the finance act, which we have already shown earlier ..... . the learned counsel thereafter contended that the permit contemplated under section 65(52) of the finance act is essentially a 'tourist permit' and since the spare bus owned by the petitioners could be operated only under section 88(8) of the motor vehicles act by way of a special permit and not on the basis of the tourist permit as contemplated under section 88(9) of the motor vehicles act, the provisions of section 65(52) of the finance act would not be applicable and the petitioners plying their spare buses under the ..... have, therefore, no hesitation first to hold that the first and foremost condition for a person to be held as a 'tour operator' within the meaning of section 65(52) of the finance act is that he must be engaged in the business of operating tours in a 'tourist vehicle' in terms of section 2(43) of the motor vehicles act and in no other type of vehicle and, therefore, necessarily such vehicle must conform to the conditions prescribed under rule 128 of the central motor vehicles rules.15. ..... . the impugned act was 'expenditure tax act, 1987' which envisaged a tax at 10% ad valorem on the chargeable expenditure incurred in the class of hetels wherein the room charges for any unit of residential accommodation are four hundred rupees or more per day per .....
Tag this Judgment!Court : Chennai
Reported in : [1995]216ITR240(Mad)
..... it includes obtaining by any of such organisations supply of labour under a contract with a contractor for carrying out its work which would have fallen outside the 'work', but for its specific inclusion in the sub-section', would go to show that the words 'any work' did not carry such wide import as now sought to be ascribed to it by the impugned circular and at any rate the ratio of the decision of the supreme ..... learned senior counsel further, that the authorities concerned, in practice, resolve by resolutions or pass orders appointing a standing counsel or a chartered accountant, particularly, in the teeth of the provisions contained in the companies act to engage the services of the various institutions or professionals under consideration and that this constitutes an implied contract and, consequently, the submissions made on their liability to be proceeded against have no substance whatsoever. ..... , of course, when the proposal gets finally incorporated in the finance act that may be passed ultimately, it will have the force of ..... does not apply to payments made by way of professional fees also gets support from the fact that in the year 1987, in the finance bill, 1987, provision was sought to be made to provide for deduction of tax at source from payments by way of professional fees by insertion of a new section, viz., s. ..... this necessitated an amendment to the constitution to enable the levy of sales-tax on the cost of goods supplied by the contractor, while executing the works .....
Tag this Judgment!Court : Chennai
Reported in : (2006)204CTR(Mad)386; [2006]285ITR340(Mad)
..... , by virtue of the expression 'the export of any goods or merchandise to which this section applies' employed in section 80hhc and by virtue of sub-section 2(b)(ii), which specifically denied the benefit of the section to export of granite (mineral), the benefit under section 80hhc is not available to the assessee; that by the amendment act 2 of 1991, an exception has been carved out to the specific provision which excluded, rather denied the benefit conferred under section 80hhc to export of minerals (granite); that the amendment brought by the finance (no. ..... 2) act of 1991 to section 80hhc of the income tax act is only prospective and effective from april 1, 1991, and for the assessment years 1987-88 and 1988-89 under consideration, the statutory provision is very clear in the sense that section 80hhc is not applicable to the export of granite. ..... accordingly, we hold that the tribunal was not right in law in holding that the assessee engaged in export of granite is eligible for deduction under section 80hhc for the assessment years 1987-88 and 1988-89.these references are answered in favour of the revenue and against the assessee. ..... following question of law:whether on the facts and in the circumstances of the case, the income tax appellate tribunal was right in law in holding that the assessee engaged in export of granite is eligible for deduction under section 80hhc for the assessment years 1987-88 and 1988-892. .....
Tag this Judgment!Court : Chennai
Reported in : (2006)205CTR(Mad)161; [2006]284ITR470(Mad)
..... order of the block assessment was passed before the amendment, but when the tribunal passed the order, the definition of undisclosed income was amended by the finance act of 2002 with effect from 01.07.1995. ..... court and this court admitted the appeals on 17.06.2003 and formulated the following substantial question of law:-(1) whether the tribunal is right in law in holding that the assessment pursuant to the notice under section 158bd issued in the instant case based on the action under section 132a in the case of t.t.v.dinakaran is valid in law notwithstanding that no part of the assessment made was based on any records seized in the course of the action under ..... (b) reads as follows: (2) (a) where the assessee incurs any expenditure in respect of which payment has been or is to be made to any person referred to in clause (b) of this sub-section, and the assessing officer is of opinion that such expenditure is excessive or unreasonable having regard to the fair market value of the goods, services or facilities for which the payment is made or the legitimate needs of the ..... such company, partner of such firm or member of the association or family, or any relative of such director, partner or member, has a substantial interest in the business or profession of that person.the important words found in the above section, namely, 'fair market value of the goods, services or facilities', are those which have a market value and which are commercial in character. ..... ) act, 1987, with effect from .....
Tag this Judgment!Court : Chennai
Reported in : (1998)147CTR(Mad)267
..... further, the legislature also amended the provision by the finance act, 1987, and by the said amendment, the benefit of exemption is also available to the sale ..... in our view, the anomaly created or doubt existed earlier was rectified by the parliament by the finance act, 1987, and if that is the intention of the parliament, we are of the view, there is no bar in granting the ..... : [1984]148itr3(bom) would apply and when the sole surviving coparcener sold the property, he acted in his individual capacity and, therefore, there is nothing which prevented the assessee from claiming exemption under ..... 54 of the act and is eligible for exemption under the section otherwise and the only question that remains to be seen is whether the ..... residence, then, instead of the capital gain being charged to income-tax as income of the previous year in which the transfer took place, it shall be dealt with in accordance with the following provisions of this section ... ..... 54(1) of the it act, 1961 (hereinafter to be referred to as the act) on the capital gains arising on the sale of a ..... 54 of the act to an huf consisting of a single coparcener as he has all powers of an individual owner over the residential house which was used by him prior to the date of sale and he enjoyed the property as an owner for the period ..... 54 of the act, coupled with the use of the words, residential house and the user for the purpose of his own residence and the investment for the purpose of his own residence within the period .....
Tag this Judgment!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 .....
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