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Rikhabdass Jain, Contractor Vs. Ito

Court : Rajasthan

Reported in : (2001)72TTJ(NULL)526

..... he, therefore, contended that salary to the extent provided and authorised by the partnership deed is an admissible expenditure as per section 40(b) amended by the finance act, 1992, with effect from assessment year 1993-94. ..... as observed hereinabove, the controversy regarding the admissibility of interest as well as remuneration to partners has been settled by the said judgment in view of the amended provisions of section 40(b) with effect from 1-4-1993.13. ..... it is observed that the controversy regarding the admissibility of salary to partners from the income estimated by applying a net profit rate is settled by the said decision in view of the amended provisions of section 40(b) with effect from 1-4-1993, i.e. ..... against this order of the tribunal, the revenue again preferred an application under section 256 which came before the honble jurisdictional high court in the second round being no. d.b. ..... however, it is observed that when the same matter came up for consideration before the honble high court in the second round in an application under section 256 moved by the revenue, being db itra no. ..... in the first round, the revenue preferred an application under section 256(2) being no. ..... 707/jp/96 whereby the tribunal had set aside the order of the commissioner, dated 27-3-1996 passed under section 263. ..... 10,187 out of depreciation on vehicle and rs. .....

National Textile Corporation Ltd. (M.P.) Vs. Commissioner of Income Ta ...

Court : Madhya Pradesh

Reported in : (2008)216CTR(MP)153

..... in this appeal, it was argued by revenue that the parliament has amended section 143(1a) by finance acts, 1992 and 1993 and in particular clause (a) of sub-section (1a) of section 143 with retrospective effect from 1st april, 1989, wherein it is inter alia provided that if loss declared in the return has been reduced as a result of prima facie adjustment or where ..... 1998) 146 ctr (mp) 187--ed. ..... bring to the notice of the hon'ble high court that retrospective amendment w.e.f 1st april, 1989, has been brought about by the finance act, 1993 by which clause (a) in sub-section (1a) of section 143 has been substituted and explanation thereunder has been omitted retrospectively ..... was justified in holding that assessee was not liable to pay additional tax after adjusting the loss in accordance with the provisions of section 143(1a) of the act or what is the true interpretation of section 143(1a) of the act and whether assessee (appellant) is liable to pay any additional tax in proceedings initiated by ao under section 143(1a) ibid if net result after making all prima facie adjustments in the return of income work out to loss or whether ..... and hence, question arose before the taxing authorities, which later reached before gujarat high court as to whether an order passed in ignorance of law laid down by high court can be rectified in section 154 proceedings their lordships of gujarat high court after placing reliance on the law laid down by supreme court in the case of east india commercial co. .....

Asstt. Cit Vs. Rajendra Mulak

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2002)77TTJ(Nag.)524

..... cases where the loss declared in the return has been reduced as a result of the adjustment made under section 143(1)(a) also, the said section 143(1a) was amended by the finance act, 1992 with retrospective effect from 1-4-1989, by substituting clause (a) in the said section to provide specifically that the additional tax shall be levied even in the cases where as a result of the adjustments made under section 143(1)(a), the loss declared by the assessee in the return is reduced or is converted into income. ..... niranjan (1991) 187 itr 280 (mad) the learned counsel for the assessee emphasised that these are the direct and clear authorities for the proposition that no penalty under section 271(1)(c) can be imposed on the assessee for alleged concealment where the returned loss is just reduced in the assessment, notwithstanding the fact that the expression "income" includes loss also as held by hon'ble supreme ..... in this regard, he has referred to explanation to section 143(1a) inserted by the direct tax laws (amendment) act, 1989, with effect from 1-4-1989, and subsequently omitted by the finance act, 1992, with effect from 1-4-1989, which reads as under : "explanation : for the purposes of this sub-section, "tax payable on such excess amount" means : (i) in any case where the amount of adjustments made under the (first) proviso to clause (a) of sub-section (1) exceed the total income, the tax that would have .....

Assistant Commissioner of Income Vs. Rajendra Mulak

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2002)83ITD670(Nag.)

..... levy the additional tax in the cases where the loss declared in the return has been reduced as a result of the adjustment made under section 143(1)(a) also, the said section 143(1a) was amended by the finance act, 1992 with retrospective effect from 1st april, 1989, by substituting clause (a) in the said section to provide specifically that the additional tax shall be levied even in the cases where as a result of the adjustments made under ..... amendment in section 143(1a) had been proposed by clause 23 of the finance act, 1992 wherein it was clearly mentioned that sub-section (ii) of the new clause (a) of section 143(1a) seeks to omit the then existing explanation to the said section ..... it is pertinent to note here that section 143(1a) was amended by the finance act, 1991, with retrospective effect from 1st april, 1989 and clause (a) therein was substituted to provide as under : (1a)(a) where as a result of the adjustments made under the first proviso to clause (a) of sub-section (1), (ii) the loss declared by such person in the return is reduced or is converted into income, (a) in a case where the increase in income under sub-clause (i) ..... niranjan (1991) 187 itr 280 (mad) the learned counsel for the assessee emphasised that these are the direct and clear authorities for the proposition that no penalty under section 271(1)(c) can be imposed on the assessee for alleged concealment where the returned loss is just reduced in the assessment, notwithstanding the fact that the expression " .....

Deputy Excise and Taxation Vs. Income-tax Officer (Tds)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2001)77ITD108(Chd.)

..... (iv) with reference to the explanation to section 206c as inserted by finance act, 1992, the cit(a) opined as follows :- in my opinion, it is clear that the explanation creates two distinct types of ..... bihar's case (supra) dealt with provisions of sections 44ac and 206c as they then stood and not advancing revenue's case whereas ramjee prasad sahu's case (supra) dealt with the provisions of section 206c as were introduced by the finance act, 1992 w.e.f. ..... were omitted by the finance act, 1992 w.e.f. ..... bunch of twenty four writ petitions arc whether the holder of l-14a licence issued under the punjab liquor licence rules, 1956 (for short the rules) is a 'buyer' within the meaning of section 206c of the income-tax act, 1961 (hereinafter referred to as the act) and whether the excise department while auctioning such a licence is a 'seller' and as such required to collect from such a licencee 10% of the amount of licence fee as income-tax. ..... the 'buyer' means a person who obtains in any sale, by way of auction, tender or any other mode, the goods of the nature specified in the table under sub-section (1) or the right to receive any such goods but does not include a public sector company, a buyer in further sale of such goods and a buyer where the goods are not obtained by him by way ..... carefully considered those aspects, in the light of the amended provisions of section 206c. ..... union of india [1991] 187 itr 188 : 56 taxman 282 is misconceived as the decision is distinguishable on facts as also .....

Deputy Excise and Taxation Vs. Income Tax Officer (Tds)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2000)77ITD108(Chd.)

..... of india (1993) 202 itr 800 (pat): case (supra) dealt with provisions of sections 44ac and 206c as they then stood and not advancing revenues case whereas ramjee prasad sahu's case (supra) dealt with the provisions of section 206c as were introduced by the finance act, 1992 with effect from 1-4-1992 holding that 15 per cent of the excise duty payable by the petitioners on account of purchase of country liquor could not be collected as income-tax under section 206c. ..... " (iv) with reference to the explanation to section 206c as inserted by finance act, 1992, the commissioner (appeals) opined as follows : "in my opinion, it is clear that the explanation creates two distinct types of buyer ..... provisions were omitted by the finance act, 1992 with effect from 1-4-1993. ..... 565 dated 11-3-1990 are also found to be irrelevant and the reliance on the decision of the honble himachal pradesh high court in the case of gian chand ashok kumar v.union of india (1991) 187 itr 188 (hp) is misconceived as the decision is distinguishable on facts as also on law.we now come to the arguments advanced by the learned counsel for the appellants and which according to him had not come up before the ..... a result, the provisions of section 206c were also suitably amended. ..... therefore, urged that the tribunal may also decide the issue that the government cannot be treated as a seller of alcoholic liquor to l-14 licensees.we have carefully considered those aspects, in the light of the amended provisions of section 206c. .....

Central Board of Direct Taxes and ors. New Delhi Vs. Oberoi Hotels (In ...

Court : Supreme Court of India

Reported in : 1998IVAD(SC)411; AIR1998SC1666; (1998)146CTR(SC)222; [1998]231ITR148(SC); JT1998(2)SC717; 1998(2)SCALE516; (1998)4SCC552; [1998]2SCR501

..... contended that since the high court did not agree with the respondent that it was giving any information to a foreign company as there was no provision in the agreement, it was only the first part of section 80-0 which this court was to examine if the agreement was in consideration of technical services rendered or agreed to be rendered out side india by the respondent that it could claim deduction of the income received ..... court was considering if certain amount described as a commission received by the assessee from the madras government under an agreement for stock and distribution of ammonium sulphate was exempted under section 14(3)(iv) of the income tax act, 1992. ..... the scope and effect of amendment of section 80-0 which was substituted in place of earlier one by finance (no. ..... 187 dated december 23, 1975 of the cbdt may perhaps require certain changes so as it is in conformity with section 80-0 of the act ..... 187, dated december 23, 1975.subject: section 80-0 of the income-tax act, 1961 - guidelines for approval of agreements.with the twin objectives of encouraging the export of indian technical know-how and augmentation of the foreign exchange resources of the country, section 80-0 of the income-tax act, 1961, provides for concessional tax treatment in respect of income by way of royalty, commission fees or any similar payment received from a foreign government or a foreign enterprise, ..... 187 dated 23rd december, 1975, the high court held as under:'to sum up, the main ..... 187 ..... 187 ..... 187 .....

Commissioner of Central Excise Vs. Mangalam Cement Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2007)7STR673

..... also submitted that the show cause notices invoking the extended period were not sustainable under the provisions of section 73, as it stood prior to the amendment in the finance act, 2003 and also under the provisions as amended by the finance act, 2003.the respondents relied upon the decision of the tribunal in l.h. ..... only the actions and proceedings initiated before the amendment of finance act, 2000 may be proceeded with and no fresh proceedings can be initiated under the validating provisions because, section 117 protected and validated any action taken prior to the commencement of finance act, 2000, by taking into consideration the amendments, which were made by section 116. ..... he submitted that the opening part of section 116 of the finance act, 2000, which amended sections 65, 66 and 67, indicated that the provisions were applicable "during the period commencing on or before 16.11.1997 and ending with 16.10.1998" which showed that they should be read only during that period ..... factory (supra), which is affirmed by hon'ble the supreme court by its order reported in 2005 (187) elt 5(sc), is wholly misconceived in view of the amendments in the law, particularly, by insertion of the proviso to section 68(1) and section 71a which created enforceable liability of the recipients of services from gtos during the period from 16.11.1997 to ..... that the ratio of the decision of the supreme court in laghu udyog bharati, reported in 1992 (112) elt 365 (sc) as followed by the tribunal in l.h. .....

Assistant Commissioner of Income Vs. Grasim Industries

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD158(Mum.)

..... . section 40a(7) was introduced in the act with retrospective effect from 1st april, 1973, by the finance act, 1975 on 12th may ..... the cit(a), in quantum appeals, had confirmed the disallowance of depreciation on the written down value (wdv) of scientific research assets on which deduction had been allowed under section 35 of the act for the assessment years under consideration.cit(a) had confirmed the disallowance subject to the decision of the bombay high court/supreme court. ..... . the supreme court answered the third question also against the assessee on the same ground that the 1980 amendment had effected no change at all in the provision except to set out more clearly and categorically what the provision said even ..... to the above facts the cit(a) ought to have considered the amendment to section 35(2) (iv) of the it act with retrospective effect from 1st april, 1962 wherein no depreciation is to be granted under section 32 where deduction has been granted under section 35 of the act." 2. ..... further submitted that section 35(2)(iv) stood amended by the finance (no. ..... such a result is necessarily involved in the legal fiction about the retrospective operation of the amendment act".we, in the present proceedings, are placed in almost a similar position as the ao was placed in the above case and hence, the order of the cit(a) under section 154 has to be reversed.17 ..... union of india (1992) 199 ttr 43 (sc) and hence the order of the cit(a) had to be ..... (1991) 187 itr 517 (bom) and also in the case of .....

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 of the constitution of india declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the ..... 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 ..... 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 ..... 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 .....