Court : Rajasthan
Reported in : [1996]220ITR636(Raj)
..... prosecution and is also to be treated as an assessee in default, the certificates which have been issued for deduction of tax are based on the authority given under law and the ambiguity if any has been clarified by the subsequent amendment in section 199 by the finance act of 1987, 12 ..... . 11 of 1987 are as under : 'any deduction made in accordance with the provisions of sections 192 to 194, section 194a, section 194b, section 194bb, section 194c, section 194d, section 194e, section 194ee, section 194f, section 194g, section 194h, section 194g, section 195, section 196a, section 196b, section 196c and section 196d, and paid to the central government shall be treated as a payment of tax on behalf of the person from whose income the deduction was made, or of the owner of the security or of the shareholder, as the case may be, and ..... . the above provision has been amended by the finance act no ..... . the provisions of section 199 of the income-tax act as amended by the act no ..... . 11 of 1987, with effect from june 1, 1987, and now the provision has been made that the credit shall be given for the amount so deducted on production of the certificate furnished under section 203 in the assessment made under the act for the assessment year for which such income is assessable .....
Tag this Judgment!Court : Rajasthan
Reported in : [2003]260ITR218(Raj); [2003]132STC298(Raj)
..... which was outstanding as on march 31, 1987, but paid by july 31, 1987, in total disregard of the provisions of section 43b as it stood before the amendment of the finance act, 1987, which provided disallowance of such liability.3. ..... of 1994, dated april 30, 1996, in respect of the assessment year 1987-88 :'whether, on the facts and in the circumstances of the case, and proper interpretation of law, the tribunal was legally justified in holding that the interest payable to the sales tax department is also 'tax' and the provisions of section 43b of the act are applicable therein ?'2. ..... on appeal the income-tax appellate tribunal analysing the provisions of section 43b and relying on the decision of this court in cit ..... of income-tax (appeals) arrived at the conclusion that the order under section 143(3) read with section 148 was erroneous and prejudicial to the interests of the revenue on account of the following mistakes :(1) the assessing officer failed to disallow under section 43b, the amount of rs. ..... assessing officer treated the said amount of unpaid interest as part of the sales tax and disallowed the same under section 43b of the income-tax act. ..... the object of section 43b is to curb the activities of those taxpayers who do not discharge their statutory liability of payment of sales tax or excise duty for long periods but claim deduction in that regard from the income on ..... a notice under section 148 was issued on march 26, 1991, in response to which the assessee-firm submitted .....
Tag this Judgment!Court : Rajasthan
Reported in : (2008)218CTR(Raj)140
..... . : [1997]226itr625(sc) has taken the view, that section 27 has been amended by finance act of 1987, with retrospective effect, with a result that under section 22, owner is a person, who is entitled to receive income in his own right, and by virtue of amended provision of section 27, a person who is allowed to take or retain possession of any building or part thereof in part performance of a contract of the nature referred to in section 53a of the transfer of property act, 1882 shall be deemed to be the owner of that building ..... . if the assessee felt, that by virtue of the provisions of section 22, by virtue of amendment made in section 27, the interpretation given by this court in the aforesaid judgment was not correct, the said judgment was required to be challenged further, that having not beendone, the rights of ..... . we have considered the submissions, and find, that this amendment was made in the year 1987, while, the earlier judgment dated 21-7-1994 was rendered in the year 1994, and this aspect was ..... 7 found, that in view of the provisions of sections 14, 15, 19 and 22 of the partnership act, 1932, the partners may by means of an agreement among themselves decide, as to what could be the firm's assets and what could not be the firm's assets, and such an agreement can be ..... , in the capacity of the co-owners, in the same ratio in which they shared the profits and gains from the business of the firm, without going through the requirement of section 17(1)(b) of the registration act. .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)195CTR(Raj)335; [2006]284ITR250(Raj)
..... section 43b has been inserted by the finance act, 1983 (11 of 1983), section ..... taxable income.the provision has expressly included only two species of taxation, namely, 'tax' or 'duty' and has also not used wider expression 'by whatever name called' so as to make applicable the provisions of section 43b to the tax in generic sense to include within expression all forms of imposts as defined under article 366(28) of the constitution of india.it may be seen that under the substituted provisions, the legislature has extended the ..... , the period for which we are also concerned, held that :'prior to clause (a) of section 43b was substituted by finance act, 1988, w.e.f. ..... 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 payment is furnished by the assessee along with such return :provided further ..... 1984).the provision was amended for the first time by the direct tax laws (amendment) act, 1987, w.e.f. ..... 1987-88, section 43b as it was in force in 1987, would only ..... 1st april, 1989, clause (a) was amended to read as under :'any sum payable by the assessee by way of tax, duty, cess or fee, by whatever name called, under any law for the time ..... referring to the position prior to amendment in the provision w.e.f. ..... 1987 ..... 1987 .....
Tag this Judgment!Court : Rajasthan
Reported in : III(2005)BC440; 2006(1)CTLJ377(Raj); RLW2005(2)Raj808; 2005(2)WLC337
..... may recompute the total income of the assessee for the previous year in which such liability was incurred and make the necessary amendment, and the provisions of section 154 shall, so far as may be, apply thereto, the period of four years specified in sub- section (7) of that section being reckoned from the end of the assessment year next following the previus year in which the payment was so made: ..... central, state or provincial act;(d) any government company as defined in section 617 of the companies act, 1956 (1 of 1956);(e) such other institution, association or body or class of institutions, associations or bodies which the central government may, for reasons to be recorded in writing, notify in this behalf in ..... remaining unpaid; or(c) the amount or the aggregate amount referred to in clause (a) together with the amount or the aggregate amount referred to in clause (b), is twenty thousand rupees or more :provided that the provisions of this section shall not apply to any loan or deposit taken or accepted from, or any loan or deposit taken or accepted by,-(a) government;(b) any banking company, post office savings bank or co- operative bank;(c) any corporation established by a ..... laws (amendment) act, 1987, w.e.f ..... section (6) was inserted by the finance ..... section (5) was inserted by the finance .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)174CTR(Raj)400
..... this court admitted the appeal on the following question of law :'whether after the finance act, 1985, amending the provisions of section 36(1)(viii) and section 36(2) with effect from 1-4-1985, inserting proviso to section 36(i)(vii) and clause (v) to section 36(2), claims under section 36(1)(viii) and 36(1)(viia) are separate and distinct ?'3. ..... the commissioner (appeals) again remitted the matter to the assessing officer in view of the amendments made in section 36(1)(vii) and 36(1)(viia) with effect from 1-4-1985/1-4-1987, for de novo completion of assessment after examining the amended provisions. ..... therefore, the provisions of section 36(1)(viia) with effect from assessment year 1987-88 granted deduction in respect of provision for bad and doubtful debts both in respect of their total advances including urban and rural advances subject to the limitation and conditions prescribed under the relevant rules ..... as such the respondent- assessee was not entitled to claim benefit and allowances by way of deduction for the assessment year 1987-88 as the proviso to section 36(1)(vii) applies to the assessee's claim in respect of bad debt. ..... 7,88,847 for the assessment year 1987-88 as it was a premature claim for the assessment year 1986-87.4 ..... the assessee again made a fresh claim for the said amount during the assessment year 1987-88 because certain subsequent events took place in the assessment year 1987-88 which showed that debt became bad and irrecoverable in the assessment year 1987-88. .....
Tag this Judgment!Court : Rajasthan
Reported in : [2002]255ITR599(Raj)
..... court admitted the appeal on the following question of law :'whether after the finance act, 1985, amending the provisions of section 36(l)(vii) and section 36(2) with effect from april 1,1985, inserting a proviso to section 36(l)(vii) and clause (v) to section 36(2), claims under sections 36(l)(vii) and 36(l)(viia) are separate and distinct ?'3. ..... commissioner of income-tax (appeals) again remitted the matter to the assessing officer in view of the amendments made in sections 36(l)(vii) and 36(l)(vii) with effect from april 1, 1985/april 1, 1987, for de novo completion of assessment after examining the amended provisions. ..... therefore, the provisions of section 36(l)(vii) with effect from the assessment year 1987-88 granted deduction in respect of provision for bad and doubtful debts both in respect of their total advances including urban and rural advances subject to the limitation and conditions prescribed under the relevant ..... such the respondent-assessee was not entitled to claim benefit and allowances by way of deduction for the assessment year 1987-88 as the proviso to section 36(l)(vii) applies to the assessee's claim in respect of bad debt. ..... 7,88,847 for the assessment year 1987-88 as it was a premature claim for the assessment year ..... again made a fresh claim for the said amount during the assessment year 1987-88 because certain subsequent events took place in the assessment year 1987-88 which showed that the debt became bad and irrecoverable in the assessment year 1987-88. .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)89TTJ(NULL)367
..... it is also notable that no such penalty has been imposed in the past.3.7 ignorance of law reasonable cause : alternatively and without prejudice to other contentions, it is submitted that explanation below section 194a was brought on the statute with effect from 1-6-1987 by the finance act, 1987, i.e. ..... on this part of income and it is clear that the assessee was not responsible for paying interest in assessment year 1988-89.3.4 the assessee thus was not liable to make any deduction under section 194a and hence there was no default as under section 271c to this extent.3.5 further with regard to other entries also, the assessee was not fully sure of the amount of interest to be finally payable to the suppliers, this also being the ..... the assessee, therefore, was not fully and accurately aware of the implications of these amendments and, therefore, there was nothing abnormal if some bona fide mistake was committed on his part. ..... cit was empowered to impose penalty by inserting sub-section (2) under section 271c of the act with effect from 1-4-1990. ..... income tax act, 1961, section 271c; in favour of : assessee (partly) and revenue (partly)penalty under section 271cfailure to deduct tax at sourcepenalty under section 271c-competent authority-levy of penalty by dy. ..... in this case the penalty was levied under section 271c of the act for failure to deduct tax at source. ..... cit was competent to levy penalty on the date of levy of penalty as per the amended provisions of law.8. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1997]230ITD611(Jodh); [1997]225ITR611(Raj); 1996WLC(Raj)UC121
..... . [sections 54 to 58 of the amending act, 1987] [sections 23 and 24 of the amending act, 1989] time limit for completion of assessments and reassessments ..... the notice dated february 13, 1995, issued under section 148 of the income-tax act, 1961, in respect of the assessment year 1987-88 has been challenged on the ground that the proceedings under section 147 as amended by the direct tax laws (amendment) act, 1987, could not have been initiated in respect of the assessment year 1987-88 and the said provisions are applicable from april 1, 1989, i.e. ..... . consequent upon the merger of clauses (a) and (b) into a single new section 147, the amending act, 1987, has substituted a new sub-section (2) in section 153, which provides a uniform time limit for completion of assessment, reassessment, etc ..... . therefore, the new sub-section (1) of section 153, substituted by the amending act, 1987, is much shorter and provides that no order of assessment under section 143 or section 144 shall be made after the expiry of two years from the end of the assessment year in which the income was first assessable ..... .--section 20 of the finance act, 1989, has further amended the said sub-section (1) of section 153 to provide for transitory provisions whereby an exception is made in the case of a return or a revised return filed under sub-section (4) or (5) of section 139 relating to the assessment year 1988-89, or any earlier assessment year .....
Tag this Judgment!Court : Rajasthan
Reported in : (2003)185CTR(Raj)601; [2003]264ITR744(Raj)
..... section 143(1) as substituted by the amendment act, 1987, with effect from april 1, 1989, reads as under :'section 143(1) as it stood between april 1, 1989, and may 31, 1999, 143(1), as substituted (with effect from april 1, 1989) and as subsequently amended from time to time, prior to its substitution (with effect from june 1, 1999), by the finance act, 1999, stood as under :'(1)(a) where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142,--(i) if any tax or interest is found due ..... of appeal against such intimation did not find place on the statute book until section 46 was amended vide finance act of 1994, with effect from june 1, 1994.21. ..... on the basis of such return, after adjustment of any tax deducted at source, any advance tax paid and any amount paid otherwise by way of tax or interest, then, without prejudice to the provisions of sub-section ..... the scheme of section 215 has now been recast under section 234c which came to be inserted by the direct tax laws (amendment) act, 1987, with effect from april ..... thereafter, section 143(1) was again substituted by the direct tax laws (amendment) act, 1987, which came into force with effect from .....
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