Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1998)64ITD104(Delhi)
..... section 18(5) as amended by the tax laws amendment act, ..... in 148 itr at page 168 (sic) states that the wto and the iac shall not initiated any proceedings for imposition of penalty on a person or impose penalty on him for an offence under clause (a) or clause (c) of sub-section (1) of section 18 in respect of any assessment year up to and including assessment year 1985-86 in a case, if he is satisfied that such person : (a) has prior to detection by the wto or as the case may be, the iac of the wealth- ..... was made were passed---------------------------------------------------------------------1982-83 8-12-1987 20-3-19871983-84 30-3-1987 23-3-19901984-85 not available 23-3-1990--------------------------------------------------------------------- it is significant that for assessment year 1982-83, the assessment order during which penalty proceedings under section 18(1)(a) was initiated was passed within the financial ..... amendment act, 1975 and finance act, ..... on 11-2-1987, the adi passed an order under section 132(5) of the act to the ..... when the assessment order was passed for assessment year 1982-83 on 9-12-1987 it is deemed to have been passed in the financial year ending ..... extended up to 31-3-1987. ..... 15-11-1985 and closed on 31-3-1987. ..... extended up to 31-3-1987. ..... 1987 ..... 1987 ..... high court passed the following interim order on 30-10-1987 in cm no. ..... in the high court of delhi numbered as 2251 of 1987. ..... file them as returns filed in amnesty period which started from 15-11-1985 and closed on 31-3-1987. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1994)51ITD447(Delhi)
..... taking note of the change brought about in the income-tax enactment after 1-4-1988 the parliament made amendments to the companies act by de-linking depreciation under the said act from the concept of depreciation admissible under the income-tax act; (x) that the tribunal in assessment year 1989-90 had taken note of the amendment to section 205 of the companies act and restored the matter back to the assessing officer asking him to decide the issue in the ..... that the legislative intention behind the introduction of the section was made clear by the speech of the hon'ble finance minister which referred to the need for subjecting to tax the highly profitable "zero tax" companies which reduced their tax liability to zero by availing of tax incentives and concessions available under various provisions of the income-tax act; (iii) the intention behind section 115j was to tax corporate bodies on the basis ..... aforesaid submissions the learned counsel appearing before the commissioner of income-tax (appeals) also referred to the background leading to the introduction of section 115j on the statute book vis-avis the speech of the hon'ble finance minister and also placed reliance on a string of decisions in support of the aforesaid arguments. ..... of depreciation under the income-tax rules as per appendix 1 inserted with effect from 2-4-1987 was not based on any bona fide technological evaluation and as indicated by the hon'ble finance minister in his speech it was a liberal rate of depreciation. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1992)(41)LC483Tri(Delhi)
..... rate of 20% basic duty available for chemically modified polyphenylene oxide also--in exercise of the powers conferred by sub-section (1) of section 25 of the customs act, 1962 (52 of 1962), the central government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the government of india in the ministry of finance (department of revenue) no ..... . 150/86-customs, dated the 1st march, 1986, the central government being satisfied that it is necessary in the public interest so to do, hereby exempts the goods falling within chapter 39 of the first schedule to the customs tariff act, 1975 (51 of 1975) specified in column (2) of the table hereto annexed, when imported into india, from so much of that portion of duty of customs leviable thereon which is specified in the said first schedule as is in excess of ..... . case (supra) it has been held that the section notes and rules of interpretation of the customs tariff act 1975 are explicitly intended to be for the interpretation of the tariff and its various headings and not to the interpretation ..... . he contended that what is implicit in notification had been made explicit by amending the notification by adding the words "including" and in this connection relied on the ruling rendered in the cases of (i) regional ..... 1.3.1987.by ..... . 88-customs, dated the 1st march, 1987, namely: in the table annexed to the said notification ..... dated 26.10.1987 ..... 1.3. ..... 1.3.1987; ..... dt.1.3. ..... dt.1.3. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2006)99TTJ(Delhi)1109
..... cit (a) held the view that amendment of the act by way of the provisions of section 145a inserted by the finance (no. ..... but it is said that the words 'to that person' in the phrase 'actual cost to that person' plainly indicate that the section is intended to confine the relief to an aggregate equal to the sum of money which the person has defrayed out of his own resources, the cost of the burden which has ultimately fallen upon him. ..... this amendment was introduced as an explanation to the definition of "actual cost" in section 10(5) of the indian income tax act, 1922, to nullify the effect of the judicial interpretations to the contrary. ..... 3883/91 for assessment year 1986-87; 5346/92 for assessment year 1987-88 and 3698/94 for assessment year 1988-89. ..... 5696/del/92 for assessment year 1987-88 and itat delhi bench 'b', new delhi as per its order dated 11.2.2003 in ita no.3926/del/94 for assessment year 1988-89 upheld the deletion of similar disallowances in the case of the assessee. ..... for assessment year 1987-88, deduction had been claimed of a sum of rs. ..... for assessment years 1987-88 and 1988-89, the tribunal deleted the additions following the order in the case of the assessee for assessment year 1986-87. ..... counsel for the assessee relied in this respect on the orders of the tribunal in the assessee's own case for assessment years 1986-87, 1987-88 and 1988-89 (supra). ..... 3434 (mds)/89 and 2304 (mds)/92 for assessment years 1987-88 and 1989-90. .....
Tag this Judgment!Court : Delhi
..... the high court discussed the notifications dated 7th november 1988 and 28th february 1989 and section 26 of the finance act 1989 and held that by necessary implication the sikkim state manual 1948 stood repealed on 1st april 1990. 32. ..... it is for this reason that the question of the act being extended to the state of sikkim by the notifications issued on 7th november 1988 and 28th february 1989, and later by section 26 of the finance act 1989 make it applicable with effect from ay 1990-91 may notbe relevant as far as the present case is concerned. ..... on 9th october 1998, separate assessment orders were passed by the acit, company circle 2 (2), new delhi for each of the ays 1987-88, 1988-89, 1989-90, in which it was concluded that each of the assessees were "intentionally trying to take advantage of the prevailing laws at sikkim by routing money through sikkim and ploughing back in india. ..... the constitution (thirty sixth amendment) act, 1975 inserted article 371-f in the constitution of india, in terms of which not all the laws of india were extended to the new state of sikkim. ..... , 26th april, 1975, in the territories comprising the state of sikkim or any part thereof were to continue to be in force therein until amended or repealed by a competent legislature or other competent authority. .....
Tag this Judgment!Court : Delhi
..... as common to the newspaper trade and prohibition envisaged vide section 9(1)(d) of the trade & merchandise marks act; (xiii) that the registrar of trademarks had in fact raised objection to the grant of registration of the trademark financial times in favour of ftl on the ground of lack of distinctiveness envisaged vide section 9(1)(d); the trademark application filed by ftl in the year 1987 was on proposed to be used basis; in order to overcome the objection, ftl amended the application and changed the basis from proposed ..... of goodwill and reputation of ftl s newspaper financial times in india and which ftl had failed to establish; (vi) that the witness of ftl acknowledged that there were number of business and financial newspapers with the word finance or financial being part of their title; (vii) that another witness of ftl admitted that the words financial and times are common words found in title of newspapers; (viii) that ftl s witness had also acknowledged ..... trademark financial times conveys a meaning that the newspaper carries financial news of present time and trends; (vi) that there are a number of other financial and business newspapers around the world with the name finance or financial being part of their title; (vii) that the mark financial as well as times are conjunctively or disjunctively common to the newspaper trade; (viii) that the marks financial as well as times are part of common titles .....
Tag this Judgment!Court : Delhi
..... (supra), the division bench referred to definition of the expression undisclosed income vide clause (b) to section 158b and the amendment made by finance act 2002 with retrospective effect from 1st july, 1995 to section 158bb(1) of the act relating to computation of undisclosed income for the block period and it was observed as under:-" 10. ..... the relevant provisions of chapter xiv-b, namely, section 158b clause(b), 158ba, 158bb and 158bc, including amendments made vide finance act, 2002 with retrospective effect from 1st july, 1995, read as under:-" section 158b. ..... explanation which was inserted by the finance (no.2) act, 1998, with retrospective effect from july 1, 1995, is a cause of some debate, as do the subsequent amendments by the finance act, 2002, again with retrospective effect from july 1, 1995. ..... the amendments incorporated by the finance act, 2002, reflect the position there was a greater clarity and understanding, regarding block assessment proceedings when the finance act, 2002, was enacted. ..... this was notwithstanding explanation to section 132(4) inserted by the direct tax laws (amendment) act, 1987 with effect from 1st april, 1989, which states that the person could be examined not only in respect of books of accounts or other documents found during the course of search but also in respect of matters relevant for purposes of any investment connected with any proceedings under the act. .....
Tag this Judgment!Court : Delhi
..... (supra), the division bench referred to definition of the expression undisclosed income vide clause (b) to section 158b and the amendment made by finance act 2002 with retrospective effect from 1st july, 1995 to section 158bb(1) of the act relating to computation of undisclosed income for the block period and it was observed as under:-" 10. ..... the relevant provisions of chapter xiv-b, namely, section 158b clause(b), 158ba, 158bb and 158bc, including amendments made vide finance act, 2002 with retrospective effect from 1st july, 1995, read as under:-" section 158b. ..... explanation which was inserted by the finance (no.2) act, 1998, with retrospective effect from july 1, 1995, is a cause of some debate, as do the subsequent amendments by the finance act, 2002, again with retrospective effect from july 1, 1995. ..... the amendments incorporated by the finance act, 2002, reflect the position there was a greater clarity and understanding, regarding block assessment proceedings when the finance act, 2002, was enacted. ..... this was notwithstanding explanation to section 132(4) inserted by the direct tax laws (amendment) act, 1987 with effect from 1st april, 1989, which states that the person could be examined not only in respect of books of accounts or other documents found during the course of search but also in respect of matters relevant for purposes of any investment connected with any proceedings under the act. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1989)(24)ECC150
..... is reproduced as below -"revision by central government - (1) ******** (2) the central government may, of its own motion or otherwise, call for and examine the record of any proceeding in which any decision or order has been passed under section 35 or section 35 a of this act for the purpose of satisfying itself as to the correctness, legality or propriety of such decision or order and may pass such order thereon as it thinks fit: provided ****** provided further that no proceedings shall be commenced under this sub ..... contention of the learned departmental representative that the appellant in the matter of the appeal should have the same limitation of one year which was available in the case of exercise of review or revisionary powers under erstwhile section 36(2) of the act, shri virmani, learned counsel for the respondents submitted that the said contention which is now tried to be re-agitated was rightly repelled by the tribunal in the case of collector of central excise, ahmedabad v. anil ..... . in order to avoid any difficulty which may arise due to the amendments made in the central excises & salt act (relating to the provisions for appeal) by the department or by the concerned party the legislature itself empowered the central government under sub-section (3) of section 50 of the finance (no ..... . katiji, (1987) 13 e.c.c. 27 (s.c ..... ., 1987 (30) e.l.t ..... ., 1987 (30) e.l.t ..... , 1987 (30) e.l.t. ..... the cod application was taken up for hearing by the referring bench on 8-7-1987. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1992)(59)ELT597TriDel
..... (1 of 1944)(hereinafter referred to as the said goods) from so much of the duty of excise leviable thereon under section 3 of the said act, as is in excess of the amount calculated at the rate of eight per cent of the rate of duty leviable on the said goods under the said first schedule" shall be substituted; (ii) in the first proviso, in clause (ii), for ..... writing paper other than poster paper (tariff item 17):- in exercise of the powers conferred by sub-rule (1) of rule 8 of the central excise rules, 1944, the central government hereby makes the following further amendments in the notification of the government of india in the ministry of finance (department of revenue) no. ..... eligibility stipulated in clause 2 of the proviso to notification 108/81 was amended so as to extend the period till 31-3-1987. ..... 17(i) for printing and writing paper (other than poster paper) falling under ti 17(i) as the goods entitled to concession, it alters the concessional rate of duty and extends the period prescribed in the first proviso to 31-3-1987 instead of up to 31-3-1984. ..... the figures, letters and words "31st day of march, 1984", the figures, letters and words "31st day of march, 1987" shall be substituted; (iii) in the third proviso, for the words "the development officer .....
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