Court : Kerala
Reported in : (2005)196CTR(Ker)391; [2005]275ITR146(Ker); 2005(2)KLT140
..... true that under the amending act by section 18 of the finance act, 1956, authority was conferred upon the income tax officer to assess a person as an agent of a foreign party under section 43 within two years ..... but authority of the income tax officer under the act before it was amended by the finance act of 1956, having already come to an end, the amending provision will not assist him to commence a proceeding even though at the date when he issued the notice it is within the period provided by that amending act'.the same view was expressed by the supreme court in various ..... to assess or reassess has lapsed on account of the expiry of the period of limitation prescribed under the earlier statute, the income-tax officer can exercise his powers to assess or reassess under the amending statute which gives, an extended period of limitation, was not accepted in calcutta discount company's case.as we have already pointed out, the right to commence a proceeding for assessment against the assessee as ..... enable the authorities to reopen assessments, which had already attained finality due to bar of limitation prescribed under section 149 as applicable prior to 1.4.1989, would amount to give sub-section (1) a retrospective operation which is neither expressly nor impliedly intended by the amended sub-section.in fact, after the decision of the supreme court a review petition was filed before the learned single judge on the ..... act, 1987, section 147 was substituted by the following section ..... 28.1.1987 .....
Tag this Judgment!Court : Kolkata
Reported in : 2008(4)CHN926
..... advocate appearing on behalf of the petitioner, submitted that the offence under section 278dd which deals with failure to comply with the provisions of section 269ss has since been omitted by the direct taxes laws (amendment) act, 1987 with effect from 1st april, 1989. ..... it is also evident that consequent to the amendment effected the non-compliance of section 269ss of the act can no more become a subject-matter of offence as section 276dd as originally framed by the legislature has since been omitted with effect from 1st april, 1989. ..... :net result of this discussion is that the view taken by the high court is not consistent with what has been stated by this court in the two decisions aforesaid and the principle underlying section 6 of the general clauses act as saving the right to initiate proceedings for liabilities incurred during the currency of the act will not apply to omission of a provision in an act but only to repeal, omission being different from repeal as held in the aforesaid decisions. ..... advocate for the petitioner that a new section being section 27id came into force by the finance act, 1990 with effect from 1st april, 1990 whereby the penalty for failure to comply with the provisions of section 269ss is stipulated. ..... the position as highlighted above has been approved by the supreme court in the case of general finance co. ..... advocate for the petitioner referred to the decision of the supreme court in the case of general finance co. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2005)199CTR(P& H)200
..... this kind of unexpected outcome of section 43b, the first proviso was added in section 43b by the finance act of 1987. ..... was, therefore, added by the finance act, 1989, with retrospective effect from 1st april, 1984, for the purpose of removing any ambiguity about the term 'any sum payable' under clause (a) of section 43b.section 43b, the first proviso to section 43b and expln. ..... [1997]224itr677(sc) , their lordships have interpreted section 43b of the act and laid down the following proposition :'section 43b of the it act, 1961, was inserted w.e.f. ..... finalised the assessment under section 143(3) of the it act, 1961 (for short, 'the act), at income of rs ..... 25,64,340 made under section 43b of it act, 1961, on account of unpaid liability of cst, sales-tax and ..... but for the proviso the ambit of section 43b becomes unduly wide bringing within its scope those payments which were not intended to be prohibited from the category of ..... the proviso makes it clear that the section will not apply in relation to any sum which is actually paid by the assessee in the next accounting year, if it is paid on or before the due date for furnishing the return of income in respect of the previous year, ..... however, 'any sum payable' in clause (a) of section 43b was open to the interpretation that the amount payable in a particular year should also be statutorily payable under the relevant statute in the ..... under section 43b of it act.'3. ..... account of unpaid sales-tax liabilities and under section 43b of the act. .....
Tag this Judgment!Court : Kerala
Reported in : [1994]205ITR412(Ker)
..... in all the circumstances of the case, we are of the view that section 43b of the act, after the amendment by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989, and explanation 2 to the section which took effect from april 1, 1984, should be considered to give effect to the proper provisions of law applicable in the instant cases. ..... : [1991]187itr417(ker) ), by judgment dated september 17, 1990, a bench of this court held thus (at page 420) :'in these cases, when the appellate tribunal rendered its decision in the appeals on july 31, 1986, it construed the provisions of section 43b of the act as it stood then, unhampered by the amendments effected in the statute by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989. ..... the effect of these amendments, and, in particular, the change effected by the finance act of 1989, is virtually to supersede the earlier legal position ..... instance of the revenue, the income-tax appellate tribunal has referred the following question of law for the decision of this court :'whether, on the facts and in the circumstances of the case and also on an interpretation of section 43b of the income-tax act, 1961,-- (i) section 43b cannot be applied to the assessee's case ; (ii) the impugned amount cannot be brought to tax in the hands of the assessee for the assessment year under consideration ?' 2. ..... the amendments so introduced later in section 43b of the act have made great inroads .....
Tag this Judgment!Court : Kerala
Reported in : [1997]227ITR582(Ker)
..... amendments introduced to the provisions of section 43b of the act by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989, changed the situation with regard to the contents of the provisions of section 43b of the act ..... the finance act, 1989, relating to the amendment made in 1989 by its second proviso to section 43b came to be substituted ..... if this is the position that emerges as a result of the deeming provision arising out of the finance act, 1989, with regard to explanation 2 to section 43b of the act, the obvious result would be that the provisions of section 43b of the act would become operative where the liability to pay the tax or the duty was incurred in the accounting year in question, for which the payment was collected ..... if this is the situation as is clearly available from the provisions of the finance act, 1989, seeking to amend explanation 2 deeming it to be effective on and from april 1, 1984, the assessees would not be entitled to any deduction because the amounts would certainly have to be understood as income ..... explanation 2 also came to be amended by the said amendment--the finance act, 1989 (introducing a deeming provision that the said explanation 2 will have to be deemed to have ..... in question could be brought to tax in the assessment year (1984-85) under consideration, by application of the provisions of section 43b of the income-tax act, 1961, as amended up to date, specially with regard to the assessment year in question. .....
Tag this Judgment!Court : Kerala
Reported in : [1997]227ITR586(Ker)
..... have already observed that the amendments introduced to the provisions of section 43b of the act by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989, changed the situation with regard to the contents of the provisions of section 43b of the act. ..... on the facts and in the circumstances of the case, the tribunal was correct in law in holding that in view of the amendment of section 43b by the finance act, 1989, introducing explanation 2, the appellate order dated september 2, 1988, was liable to be rectified and the sum of rs. ..... revenue submitted, as would be found from the order of the tribunaldated march 14, 1991, that as a result of the retrospective amendment of section 43b by the finance act, 1989, there is a mistake of law, apparent on the face of the record. ..... the finance act, 1989, relating to the amendments made in 1989 by its second proviso to section 43b came to be substituted and it came into force on april 1, ..... explanation 2 also came to be amended by the said amendment--the finance act, 1989 (introducing a deeming provision that the said explanation 2 will be deemed to have been inserted with effect from april 1, ..... in the context of the conflicting decisions of the high courts on the interpretation of the amendment to section 43b of the act, the rectification ordered spells out a question of law. 6. ..... whether, in view of divergent views on amendments to section 43b of the income-tax act, the question whether the sales tax liability of .....
Tag this Judgment!Court : Chennai
Reported in : (2008)214CTR(Mad)598; [2008]303ITR245(Mad)
..... noting the difference between the law as it stood prior to the amendment by the finance act, 1987, and the law as on 1988-89 with reference to section 45(5)(b) that the enhanced compensation would be brought to tax on receipt basis, the assessing authority held that the said sum was liable to be considered for the purpose of capital gains in the assessment year concerned, ..... considering the amendment brought forth under the finance act, 1987 and the introduction of the provisions of section 45(5)(b), the tribunal viewed that the assessee was liable to be assessed to capital gains on the additional compensation received and that the decision of the apex court reported in : [1986]161itr524(sc) (cit ..... hindustan housing & land development trust), the assessing authority took the view that the provisions of law under the finance act of 1987 made the difference that the amendment itself was brought about to cover cases of capital gains arising out of additional compensation even in cases where finality had not been ..... order dated 21.8.2001, the income tax appellate tribunal allowed the revenue's appeal, holding that in terms of section 45(5)(b) of the income tax act, introduced in the statute in the finance act, 1987, the assessee was liable to be assessed on the additional compensation. ..... to remove these difficulties, sub-section (5) of section 45 was inserted by the finance act, 1987, to provide for taxation of additional compensation in the year of receipt in respect of the transfer of .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(3)BomCR673; 2002(1)MhLj301
..... however, section 2(7a) of the income tax act came to be amended by direct tax laws (amendment) act, 1987 by which the name of the various authorities under the act came to be changed. ..... he contended that the finance act of 1991 has been enacted much after the enactment of the uti act, 1963 and, therefore, the act of 1991 amending the interest tax act was a subsequent law vis-a-vis uti act, 1963. mr. ..... when the parliament enacted the finance act with effect from 1st october, 1991 uti and lic were brought expressly within the purview of the interest tax act thereby the parliament impliedly repealed section 32 of the uti act to the extent of the interest income which is made taxable under the interest tax act. ..... however, as stated above, since 1991, the market borrowings of the central government have increased manifold times and, therefore, by finance act, 2000 the levy has been withdrawn after 31-3-2000. ..... in the present matter, on facts, we find that after finance act of 1991, uti sought the opinion of the central board of direct taxes. ..... dastur submitted that section 2(28a) was introduced in the act by finance act 1988 because the government wanted to levy tax oninterest under section 9(1)(v) of the income tax act which deals with interest income which accrues or arises in india. .....
Tag this Judgment!Court : Kerala
Reported in : [1991]189ITR165(Ker)
..... in disposing of an identical point by a common judgment dated september 17, 1990, this court held that section 43b of the income-tax act, after amendment by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act of 1989 and explanation 2 to the section which took effect from april 1, 1984, should be considered in order to give effect to the proper position of the law applicable to the instant case. ..... in the circumstances of the case, the amount of unpaid tax collected in the last month of the previous year under consideration which was not claimed as a deduction while computing the income under the income-tax act by invoking the provisions of section 43b of the act could not be brought to tax in the assessment years under consideration ?'2. ..... 41,086 being the sales tax collection in the last month of the year payable to the government before the 20th of the next month, is a permissible addition under section 43b of the act. ..... 211, 212 and 213 of 1987--cit v. ..... 212 of 1987, which was covered by i. t. a. no. ..... 212 of 1987--cit v. ..... 211 of 1987 was heard along with two other cases--i. t. r. ..... 212 and 213 of 1987. ..... 211 of 1987. i. t. r. no. .....
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 .....
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