Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1989)28ITD499(Mum.)
..... now, the term "income-tax authority" is defined in sections 245a(6) (as it existed prior to the amendment of the section brought about by finance act, 1987 with effect from 1-6-1987) as under :-- (b) "income-tax authority" means a director of inspection, a commissioner, a commissioner (appeals), an appellate assistant commissioner, an inspecting assistant commissioner or an income-tax officer.even after the amendment, the term "income-tax authority" is defined in clause (d) of sections 245a as income-tax authority specified in section 116. ..... section 245f (which was omitted by finance act, 1987 with effect from 1-6-1987) read as under: 245m (1) notwithstanding anything contained in this chapter, any assessee who has filed an appeal to the appellate tribunal under this act which is pending before it shall, on withdrawing such appeal from the appellate tribunal before the 1st day of october, 1984, be entitled to make an application to the settlement commission to have his case settled under this chapter : ..... 321/bom/1987), it is pointed out that the assessee had filed a settlement application under section 245c(1) of the income-tax act for the assessment year 1979-80 which was admitted by the settlement commission by their order dated 26-11-1984 under section 245d(1). .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1989)30ITD143(Hyd.)
..... . "can the amendment to section 43b by the finance act, 1987, be taken into account in interpreting the provisions of section for the asst.year ..... . "can the amendment to section 43b by the finance act, 1987 be taken into account in interpreting the provisions of section for the ..... we may also refer to the amendment to section 43b brought in by the finance act, 1987. ..... . as the intendment of the first proviso referred to above is clarificatory of the provisions of section 43b, even though it was introduced by the finance act, 1987, with effect from 1-4-1988 it should be followed with respect to the preceding assessment years also in order ..... . 1 under s.43b by finance act, 1987, with effect from 1-4-1988 : "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 furnishin 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 ..... crossed cheque, the parliament did specify that payments made after 31-3-1969 would be hit by the said provision.however, the parliament has also specified in respect of a number of other fiscal provisions, particularly annual amendments to the 1961 act brought through the finance acts that certain provisions would be applicable with effect from specified assessment years .....
Tag this Judgment!Court : Mumbai
Reported in : [1990]33ITD693(Mum)
..... application dated 27-7-1988, the tribunal in para 5 of the order, had observed as under :-'now, the term 'income-tax authority' is defined in section 245a (b) (as it existed prior to the amendment of the section brought about by finance act 1987 with effect from 1-6-1987) as under :'(b) 'income-tax authority' means a director of inspection, a commissioner, a commissioner (appeals), an appellate assistant commissioner, an inspecting assistant commissioner or an income-tax ..... after the amendment, the term 'income-tax authority' is defined in clause (d) of section 245a as income-tax authority specified in section 116. ..... after reproducing the definition of the term 'case' in that section, the tribunal held that 'case' means proceedings for assessment or reassessment which are pending before the income-tax authority on the date on which an application ..... the tribunal has not given any finding that section 245 does not apply to an appeal filed before it against the order of revision ..... itat was correct in law in holding that section 245f (2) does not apply to appeal filed before it against order of revision ..... in both these sections, income-tax appellate tribunal is not regarded as an income-tax authority which would mean that the settlement commission cannot exercise or supersede the powers of ..... first miscellaneous application was filed on 22-2-1987 and was marked m. a. no ..... 256(1) of the income-tax act, 1961, arising out of ..... filed against the order passed by the tribunal on 14-9-1987 in ita no. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1990)35ITD298(Ahd.)
..... also urged that the term "transfer" as defined in section 2(47) and as amended by finance act, 1987 w.e.f. ..... in this behalf our attention was also drawn to the provisions of section 2(47)(v) as amended w.e.f. ..... (supra) the allahabad high court was concerned with the interpretation of the expression 'building owned by the assessee' occurring in section 32 of the act and had held that the said expression had not been used in that section in the sense of property, complete title in which vests in the assessee, who was in a position to exercise the right of the owner in his own rights and not on behalf of the person in whom the actual title to that ..... the words "allowance of possession" used in the amended language of section 2(4)(v) admits of the interpretation put by us in the facts of this case ..... it was a case under the gift-tax act, 1958 and the expression "transfer of property" as defined in section 2 (xxiv) of that act was considered vide enough to include within its scope any assignment or alienation of ..... the attachment of the sale proceeds by the customs and income-tax authorities and withdrawing such attachment or prohibition on operating the bank account by the assessee only on2-6-1982 and 18-3-1987 respectively had resulted in the defeat of assessee's valuable rights under sections 53 & 54 of the act. ..... reply the learned counsel for the assessee has very rightly submitted that the provisions in section 53a of the above mentioned act can be used only as a weapon of defence.16. .....
Tag this Judgment!Court : Delhi
Reported in : [1991]189ITR167(Delhi)
..... that, right, from the assessment year 1974-75, the deduction was allowed by the tribunal and, in respect of three years, namely, 1974-75, 1975-76 and 1977-78, not only the tribunal dismissed the application under section 256(1), but this court also dismissed two of the income-tax references being itc no. ..... in respect of the assessment year 1978-79, it is contended by learned counsel for the petitioner that the tribunal itself, vide order dated july 27, 1987, had made a reference to this court under section 256 of the income-tax act. ..... in this order, the tribunal has not referred to its earlier order passed under section 256(1) nor has it referred to the order passed by this court under section 256(2) of the act. 6. ..... 49 of 1987, the latter itc being dismissed on july 29, 1987. 5. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1991)36ITD115(Ahd.)
..... recent amendments in section 43b by the finance act, 1987 and finance act, 1988 were relied on by epartment in support of the argument to the effect that the sales-tax ollected constituted trading receipt while sales-tax liability which was not discharged in the relevant year by payment was ..... section 43b of the income-tax act, 1961, introduced by the finance act, 1983, with effect from 1-4-1984 provides, inter alia, that a deduction in respect of any sum payable by the assessee by way of tax or duty under any law for the time being in force shall be allowed from ..... the government of maharashtra have by the bombay sales tax (amendment) act, 1987, made the amendment accordingly. ..... the board have decided that where amendments are made in the sales tax laws on these lines, the statutory liability shall be treated to have been discharged for the purposes of section 43b of the act.in the state of gujarat, necessary amendments have been made by executive instructions, copies of which have been filed before us. ..... the ministry of law has opined that if the state governments make an amendment in the sales tax act to the effect that the sales tax deferred under the scheme shall be treated as actually paid, such a deeming provision will meet the requirements of section 43b. 5. ..... 25-9-1987 (published in 1988, 169 itr statute 63) the material portions of which are as follows: sales tax deferral scheme - provisions of section 43b of the income-tax act, 1961 -clarification regarding. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1991)100CTR(P& H)290; [1991]188ITR550(P& H)
..... all these petitions, the petitioners seek the quashment of the respective complaints and the proceedings resulting therefrom, inter alia, on the ground that, before the amendment of section 194a, vide finance act, 1987, which came into force on june 1, 1987, there was no provision like the present explanation to sub-section (1) of this section making the crediting of any interest to any account, whether called 'interest' payable account' or 'suspense account', would amount to crediting the interest payable ..... mittal, learned counsel for the respondent, on the other hand, stated that the explanation inserted by the finance act of 1987 to sub-section (1) of section 194a simply explains the existing provisions of law and had not created any new offence and that, under the mercantile accounting system, the accused-petitioner was bound to show ..... the explanatory notes on the provisions relating to direct taxes while introducing the finance act, 1987 (see [1987] 168 itr 87). mr. ..... the question then arises as to whether it can be read in the un-amended provisions of section 194a of the income-tax act that the crediting of the interest in the interest payable account would be deemed to be payment to the different depositors and the company would be liable for non-deduction ..... fact, this interpretation cannot be disputed because while introducing the finance bill, 1987, the explanatory note clearly provides that the legislature had filled up a lacuna in the existing provisions of section 194.10. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1991)99PLR225
..... the quashment of the respective complaint and the proceedings resulting therefrom inter alia, on the ground that before the amendment of section 194a vide finance act, 1987, which came into force on 1-6-1987, there was no provision like the present explanation to sub section (! ..... mittal, learned counsel for the respondent, on the other hand stated that the explanation inserted by finance act of 1987 to sub section (i) of section 194a simply explains the existing provisions of law and had not created any new offence and that under the merchantie accounting system the accused-petitioner was ..... the provisions relating to direct taxes while introducing the finance act 1987 figuring at page 87 (1987) 168 i. t. r. ..... a base glance through the above referred notes leaves no doubt that section 194a has been amended to provide that the tax will be deducted at source on accrual of interest in the end of the accounting year or at the time of crediting to the account of payee or at the time of payment, whichever is ..... with a view to prevent postponement of liability relating to such deduction of tax at source, section 194a has been amended to provide that tax will be deducted at source, on accrual of interest at the end of the accounting year or at the time of credit to the account of a payee or ..... cannot be disputed because while introducing the the finance bill, 1987, the explanatory note clearly provides that the legislature, had filled up a lacuna in the existing provisions of section 194.9. .....
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 : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (1991)38ITD138(Ahd.)
..... union of india [1988] 173 itr 708 that in order to apply the provision of section 43b (as it stood prior to amendments by finance act, 1987 and finance act, 1989) not only should the liability to pay the tax be incurred in the accounting year but the amount also should be statutorily "payable" in ..... relates to interpretation of provisions of section 43b of the income-tax act, 1961 as amended by the finance act, 1987 and the finance act, 1989.3. ..... section 43b was amended by finance act, 1987 and finance act ..... on 3-3-1988 considered the amendments made by finance act, 1987 with effect from 1-4-1988 in section 43b of the act. ..... . it has been held by patna high court that under the proviso which was inserted with effect from 1-4-1988 by the finance act, 1987, the words "actually paid" occurring in the main section 43b have in fact been interpreted and as such the said proviso should be regarded as an interpretation clause or a clause which explains what is meant by " actually paid" and that the interpretation given ..... the said proviso was literally interpreted it would be struck down as it provided for doing an impossible act and that it could be upheld by holding that an assessee for the assessment year 1984-85 was entitled to have the benefit of the proviso introduced by the finance act, 1987.the high court held that upon textual interpretation of statutes, the proviso to section 43b of the act should be construed as retrospective in its operation and explanation 2 thereto should be held to .....
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