Court : Orissa
Reported in : (1992)101CTR(Ori)247; [1992]198ITR110(Orissa)
..... with a view to get over them, amendments in section 43b were introduced by the finance act, 1987. ..... the original provisos introduced in section 43b by the finance act, 1987, read as follows (see [1987] 166 itr 9) :'provided that nothing contained in this section shall apply in relation to any sum referred to in clause (a) which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such ..... the finance act, 1987, inserted a proviso to section 43b to provide that any sum payable by way of tax or duty, etc ..... from the legislative history set out above, we find that the first proviso to section 43b came into effect from april 1, 1988, and explanation 2 enacted by the finance act, 1989, was made retrospective in its operation with effect from april 1, 1984. ..... both the provisos have been amended by the finance act, 1989. ..... this section was inserted by the finance act, 1983, with effect from april 1, 1984 ..... the memorandum to the finance bill, 1989, clarified the object of deleting the words 'during the previous year' in the following words (see [1989] 176 itr 124 'under the existing provisions of section 43b of the income-tax act, 1961, it is also provided that any sum payable by the assessee as an employer by way of contribution to the provident fund or superannuation fund, etc .....
Tag this Judgment!Court : Orissa
Reported in : (1991)100CTR(Ori)211; [1992]194ITR743(Orissa)
..... been further amendments in the explanation to section 263(1) by the finance act, 1988. ..... explanation to section 263(1) was introduced by the taxation laws (amendment) act, 1984, with effect from october 1, 1984, for removal ..... sub-section (2) in the said section by the finance (no. ..... in this context, a reference to section 246 of the act as it stood at the relevant time ..... on being moved under section 256(1) of the act, the aforesaid question has been referred to this court ..... raised before the commissioner that the order having been passed after approval by the inspecting assistant commissioner in terms of section 144b, the same was not available to be revised by the commissioner under section 263 of the act. ..... commissioner of income-tax, orissa, was of the view that the order of assessment was prejudicial to the interests of the revenue, and proceedings under section 263 of the act were initiated. ..... of the revenue, the following question has been referred to this court for adjudication by the income-tax appellate tribunal, cuttack bench (in short 'the tribunal'), under section 256(1) of the income-tax act, 1961 (in short 'the act'). ..... section 144b has been omitted with effect from april 1, 1989, by the direct tax laws (amendment) act, 1987.5 ..... assessment order passed by the income-tax officer in conformity with the directions given by the inspecting assistant commissioner and thereby setting aside the order passed by the commissioner of income-tax under section 263 of the income-tax act, 1961 ?'2. .....
Tag this Judgment!Court : Orissa
Reported in : [1992]195ITR539(Orissa)
..... subsequently, it has been renumbered as section 2(1b) with effect from april 1, 1989, by the direct tax laws (amendment) act, 1987. ..... subsequently, sub-section (3) was inserted by the finance act, 1978, making it operative from april 1, 1978 ..... the expression 'financial non-viability' has not been defined in the act ; but the finance minister's speech, the notes on clauses of the bill and the memorandum explaining the provisions of section 72a of the act make it clear that the financial non-viability of an undertaking has been equated with the 'sickness' of such undertaking and, obviously, in the context of its revival by a sound undertaking, the sickness must be of a temporary character and ..... the object of introduction of the said section, as appears from the finance minister's introductory speech during presentation of the budget, was to the effect that sickness amongst industrial undertakings is a matter of grave national concern ; closure of any sizable manufacturing unit in any industry entails social costs in terms of ..... the section was inserted by the finance (no. ..... this lack of finance may be acting as a detriment. ..... the notes on clauses to the finance bill, 1977, memorandum explaining the provisions of the said bill and the reply to the debate in parliament on the bill on june 23, 1977, clearly show that the object of the enactment is to save the government ..... such rejection the petitioner submitted a representation to the ministry of finance. ..... , it was introduced by the finance (no. .....
Tag this Judgment!Court : Orissa
Reported in : 1994(74)ELT802(Ori); [1993]203ITR729(Orissa)
..... was inserted by the taxation laws (amendment) act, 1984, with effect from october 1, 1984, and was amended by the direct tax laws (amendment) act, 1987, with effect from april 1, 1988. ..... june 1, 1988, the explanation to sub-section (1) of section 263 has undergone a change which was introduced by the finance act, 1988. ..... director-general or commissioner authorised by the board in this behalf under section 120 ; (b) 'record' includes all records relating to any proceeding under this act available at the time of examination by the commissioner ;(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 powers of the commissioner under this sub ..... passed by the assessing officer shall include-- (i) an order of assessment made by the assistant commissioner or the income-tax officer on the basis of the directions issued by the deputy commissioner under section 144a ;(ii) an order made by the deputy commissioner in exercise of the powers or in the performance of the functions of an assessing officer conferred on, or assigned to, him under the orders or directions issued by the board or by the chief commissioner or ..... on april 11, 1988, the petitioner wrote a letter to the commissioner and undertook to file a petition under section 273a(1) and (4) of the act for the concerned four years and the petition was filed on june 9, 1988, and the matter is pending .....
Tag this Judgment!Court : Orissa
Reported in : [1991]190ITR139(Orissa)
..... before the direct tax laws (amendment) act, 1987, with effect from april 1, 1989, section 139(4)(a) which was substituted by the finance act, 1968, with effect from april 1, 1968, and amended by the taxation laws (amendment) act, 1970, with effect from april i, 1971, stood as under :'4 (a) any person who has not furnished a return within the time allowed to him under sub-section (1) or sub-section (2) may, before the assessment is made, furnish the return for any previous year at any ..... time before the end of the period specified in clause (b), and the provisions of sub-section (8) shall ..... it was urged by the revenue before the tribunal that the decision of the supreme court is no more applicable in view of the amendment made to section 139 by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. ..... : [1970]77itr518(sc) of the supreme court and held that the return, though not originally filed, was filed pursuant to the notice under section 148 of the act and is a return under section 139 although the provisions of section 139(3) of the act have not been complied with by the assessee. .....
Tag this Judgment!Court : Orissa
Reported in : 106(2008)CLT118; [2009]185TAXMAN87(Orissa)
..... 701 dated 23.03.1995 stating therein, inter alia, that consequent upon the amendment of section 10(14) of the said act by the direct tax law (amendment) act, 1987 with effect from 01.04.1989, all circulars, instruction and clarifications issued by the board regarding section 10(14) up to 31.03.1999 ceased to have effect from the assessment year ..... it was also made clear that consequent upon the amendment of section 10(14) of the said act by the direct tax law (amendment) act, 1987 with effect from 01.04.1989, all circulars, instructions and clarifications issued by the board regarding section 10(14) up to 31.03.1989 ceased to have effect from the assessment year ..... paragraph 9 of the writ petition it has been stated that by the finance act, 1995 which came into effect on 01.07.1995 the words 'as may be prescribed' stated in section 10(14) of the said act has been amended. ..... in it appears that rajasthan high court was considering impact of the circular of the ministry of finance, government of india issued through the central board of direct taxes dated 28th november, 1986. ..... moreover, the subsequent circular issued by the government of india, ministry of finance dated 1st february, 2001 was also never placed before the division bench of the rajasthan high court and was ..... the circular of government of india, ministry of finance dated 4th january, 2001, which has been referred to above, was not at all considered by the division bench of the rajasthan high court as the same was not placed .....
Tag this Judgment!Court : Orissa
Reported in : (1992)103CTR(Ori)222; [1993]199ITR761(Orissa)
..... has undergone several amendments by the finance act, 1966, with effect from april 1, 1966 ; the finance (no. ..... of the opinion that the assessee was entitled to deduction of 4d per cent, of the total income under section 36(1)(viii) of the act, but limited the same to the reserve created of rs. ..... on being moved by the revenue under section 256(1) of the income-tax act, 1961 (in short, 'the act'), the income-tax appellate tribunal, cuttack bench, cuttack (in short, 'the tribunal'), has referred the following questions to this ..... view of this conclusion, the revenue moved for a reference under section 256(1) and, as aforestated, two questions have been referred to ..... holding that the deduction permissible under section 36(1)(viii) of the act was to be calculated on the assessee's total income as it stood before the deduction allowable under section 36(1)(viii) of the act. ..... dispute as to what would be the quantum of deduction, it is relevant to refer to section 36(1)(viii) of the act as it stood at the relevant time.'36. ..... and in the circumstances of the case, the income-tax appellate tribunal was justified in holding that the total income on which deduction under section 36(1)(viii) of the income-tax act, 1961, has to be computed must be calculated before deducting relief allowable under section 36(1)(viii) ?' 2. ..... the legality of the latter view, but carried the matter in appeal so far as the direction of the commissioner relating to deduction under section 36(1)(viii) of the act was concerned. .....
Tag this Judgment!Court : Orissa
Reported in : [1955]28ITR136(Orissa)
..... from the above resume of facts it would be seen that the ordinance in question had been promulgated before the decision on the reference under section 66(1) had been pronounced and the finance act of 1939 had been made applicable to chota nagpur with effect from 30th march, 1939, i.e. ..... it was correct, was not based on any definite information coming into his possession, but he only corrected a view of the mistake of law applied by his predecessor, and that was not a sufficient ground for applying section 34 as amended in 1939.5. mr. ..... presumably considerations of this nature led to the amendment of section 34 in 1939 by which it was provided that 'if in consequence of definite information which has come into his possession, the income-tax officer discovers that income, profits or gains chargeable to income-tax have escaped assessment in any ..... their lordships after discussing the entire question came to the conclusion that under section 34 if the indian income-tax act as amended in 1939, the income-tax officer had no power to reopen the assessment proceedings, unless he acted in consequence of 'definite information' which had come into his possession. ..... it would be seen under this section before the amendment of 1939, all that had to be shown was that the income had escaped assessment, or had been assessed at too law a rate, and the cases show that that position might arise by a mere error on the ..... it may be pointed out that section 34 was once amended in the year 1939. .....
Tag this Judgment!Court : Orissa
Reported in : AIR1955Ori106; 21(1955)CLT555
..... the 'definite information' consisted only of his view of the law as to whether the rates of the finance act of 1938 or 1939 were applicable and as in his view the rates of finance act of 1939 were applicable that in his view constituted 'definite information' so as to attract the operation of section 34.it was found that the view of the second officer about the legal position was correct; but the question raised was whether a different view ..... gains chargeable to income-tax had escaped assessment in any year, or had been assessed at too low a rate, the income-tax officer might make a fresh assessment.it would be seen under this section before the amendment of 1939, all that had to be shown was that the income had escaped assessment, or had been assessed at too low a rate, and the cases show that position might arise by a ..... that, owing to some mistake of the income-tax officer, he ought to have been charged at a heavier figure with the result that he may cause considerable embarrassment.presumably considerations of this nature led to the amendment of section 34 in 1939 by which it was provided that if in consequence of definite information which has come into his possession, the income-tax officer discovers that income, profits or gains chargeable to income-tax have ..... any definite information coming into his possession, but he only corrected a view of the mistake of law applied by his predecessor, and that was not a sufficient ground for applying section 34 as amended in 1939.5. mr. .....
Tag this Judgment!Court : Orissa
Reported in : [1993]203ITR641(Orissa)
..... an explanation was inserted at the end of sub-section (1) of section 271 by the said finance act (section 40 of the finance act, 1964). ..... originally, the word 'deliberately' existed which was omitted by the finance act, 1964, with effect from april 1, 1964. ..... a conspectus of the explanation added by the finance act, 1964, and the subsequent substituted explanations makes it clear that the statute visualised the assessment proceedings and penalty proceedings to be wholly distinct and independent of each other. ..... in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the quantum of tax sought to be avoided under the then existing provisions. ..... four explanations were substituted for the explanation introduced by the finance act, 1964. ..... according to him, the onus lies on the department to prove contumacy of conduct and the expression 'concealment' under section 271(1)(c) imports the concept of mens rea and, consequently, the intention of the legislature appears to be that the assessee is not to be penalised unless the necessary mental element could be spelt out from the materials on record. ..... subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). ..... mussadilal ram bharose : [1987]165itr14(sc) , the burden placed upon the assessee is not discharged by any fantastic explanation. .....
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