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Deputy Commissioner (Law), Commercial Taxes Vs. Parekh Brothers

Court : Kerala

Reported in : [2000]119STC166(Ker)

..... with effect from august 1, 1991. no change in any other item, rate, point of levy was made. this was the position till march 31, 1992, as amended by the kerala finance act, 1992. new item 106 reads as 'rain coat, tarpaulin and products of waterproof cloth, rexine and pvc cloth'. rate of tax has been increased to 10 per ..... pvc cloth, waterproof cloth, rexine and their 8%' products and tarpaulin thereafter, first schedule was substituted by finance act 18 of 1987 with effect from july 1, 1987, as stated above. in substituted schedule, item 152 reads as follows :'152 : pvc cloth, waterproof cloth, rexine and their ..... no. 342 of 1963). that was withdrawn with effect from june 1, 1974. first schedule to the act was substituted with effect from july 1, 1987 by finance act 18 of 1987. prior to that, with effect from april 1, 1986, by finance act 7 of 1986, item 100-c was introduced to the schedule. same reads as follows :'100-c : .....

M.G. Kalyan and S.G. Kalyan Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2002)80ITD39(Bang.)

..... the other hand, the learned departmental representative, shri n.s. raghavendra, placed strong reliance on the orders of the authorities below. he contended that the amendment brought about by the finance act, 1992, is only procedural and not substantive. therefore, the ao had all the powers to send intimation under section 143(1)(c) on 11th dec., 1995.6. we have very carefully ..... that the ao had no jurisdiction to pass an intimation under section 143(1)(c) in this case. for this proposition, he invited our attention to the amendment brought by finance act, 1992 to section 143(1)(c) which was made effective from 1st april, 1993. his contention was that since the words "partner of a firm" and "firm" have been omitted from .....

M.G. Kalyan Vs. Ito

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2001)80ITD39(Bang.)

..... the other hand, the learned departmental representative, shri n.s.raghavendra, placed strong reliance on the orders of the authorities below. he contended that the amendment brought about by the finance act, 1992, is only procedural and not substantive. therefore, the assessing officer had all the powers to send intimation under section 143(1)(c) on 11-12-1995.we have very carefully ..... the assessing officer had no jurisdiction to pass an intimation under section 143(1)(c) in this case. for this proposition, he invited our attention to the amendment brought by finance act, 1992 to section 143(1)(c) which was made effective from 1-4-1993. his contention was that since the words "partner of a firm' and 'firm' have been omitted from .....

Gujarat Alkalies and Chemicals Ltd. Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2002)77TTJ(Ahd.)304

..... -section (3) to section 80hhc which provides that profits derived from export of goods shall be an amount: this formula was operative with effect from 1-4-991. subsequently, the finance act, 1992, made significant amendments in section with a view to eliminate certain problems and difficulties. under the amended provisions profits derived from exports were to be computed as per section 80hhc ..... referred to at page 771 of the report whereas the assessment year before us in the present appeal is assessment year 1996-97, i.e., post 1992 amendments of section 80hhc introduced by the finance (no. 2) act, 1991, made far-reaching changes in the provision by way of rationalisation and simplification thereof as explained by central board of direct taxes in circular .....

Gujarat Alkalies and Chemicals Ltd. Vs. Joint Commissioner of Income T ...

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

..... export of goods shall be an amount : export turnoverprofits and gains of business or profession x -------------- total turnover this formula was operative w.e.f. 1st april, 1991. subsequently, the finance act, 1992, made significant amendments in section with a view to eliminate certain problems and difficulties. under the amended provisions profits derived from exports were to be computed as per section 80hhc ..... referred to at p. 771 of the report whereas the assessment year before us in the present appeal is asst. yr. 1996-97, i.e., post 1992 amendments of section 80hhc introduced by the finance (no. 2) act, 1991, made far-reaching changes in the provision by way of rationalisation and simplification thereof as explained by cbdt in circular no. 621, dt. 19th .....

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... , insertion of the provisions of section 90(2) by the finance (no. 2) act, 1991 with retrospective effect from 1.4.1972; insertion of section 14-a by the finance act, 2001 with retrospective effect from 1.4.1962; explanation to section 36(1)(viii) by finance act, 1992 with retrospective effect from 1.4.1987 and so on. if ..... legislature became alive to the hardships which the retrospection of the provision could cause to the tax payers. hence the proviso above mentioned was inserted by the finance act, 2002 with retrospective effect from 11th may, 2002.it, therefore, meant that an assessment order already made could not be disturbed or interfered with on the ..... arguments of the learned special counsel for revenue, it is significant that both the provisions of section 14a and section 94(7) were introduced by the same finance act, 2001. while the provisions of section 14a have been given retrospective effect from 1.4.1962, the provisions of section 94(7) have been introduced prospectively .....

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96ITD1(Mum.)

..... example, insertion of the provisions of section 90(2) by the finance (no. 2) act, 1991 with retrospective effect from 1-4-1972; insertion of section 14-a by the finance act, 2001 with retrospective effect from 1-4-1962; explanation to section 36(1)(viii) by finance act, 1992 with retrospective effect from 1-4-1987 and so on. if ..... out of the funds received by it, which were essentially in the nature of subscription funds.referring to the provisions of section 94(7) introduced by the finance act, 2001, the learned special counsel argued that initially it laid down the condition of holding of securities three months prior and three months subsequent to the ..... arguments of the learned special counsel for revenue, it is significant that both the provisions of section 14a and section 94(7) were introduced by the same finance act, 2001. while the provisions of section 14a have been given retrospective effect from 1.4.1962, the provisions of section 94(7) have been introduced prospectively .....

A.H. Baldota Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)103TTJ(Mum.)517

..... to get it assessed in his hands and then set off this loss against his income from other sources and/or under other head after the amendment made by finance act, 1992. this is relevant because unless a partner has share of loss assessable in his hands under the head "business", he cannot claim deductions of expenses incurred. unless ..... follows that unless there is a statutory provision, loss cannot be set off against income from another source or another head. section 75 in it act as it existed prior to amendment by finance act, 1992, provided set off of the loss coming to the hands of partners, against their other income in the current year or allowed to carry ..... ). the interest was paid to earn an exempted income. therefore, the same has to be disallowed. he also submitted that section 14a was introduced in the statute by finance act, 2001, w.r.e.f. 1st april, 1962 making it possible for the ao to disallow claim of expenditure incurred in earning exempted income. further, according to .....

Mysore Sugar Co. Ltd. Vs. Dy. Cit (Tds)-i

Court : Karnataka

Reported in : [2006]154TAXMAN447(Kar)

..... -4-1992, wherein the definition of 'buyer' under clause (a) is explained under sub-clause (iii) of the said clause, which provision excludes the buyers ..... arrack purchased by them. we are concerned in these cases with the explanation part to sub-section (11) of section 206c of the act which was inserted by the finance act w.e.f 1-4-1992. insofar as liquor for human consumption (other than indian made foreign liquor), the percentage of collection of income-tax at source to be ..... stated that the provisions of section 206c of the act are not applicable to them as they come within the category of explanation to section 206c sub-section (11) clause (a) 'buyer' sub-clauses (i) to (iii) which provisions were inserted by way of an amendment by the finance act, 1992, which have come into force with effect from 1 .....

Excise Commissioner and anr. Vs. Mysore Sales International Ltd. and o ...

Court : Karnataka

Reported in : (2006)203CTR(Kar)505

..... 1-4-1992, wherein the definition of 'buyer' under clause (a) is explained under sub-clause (iii) of the said clause, which provision excludes the buyers ..... purchased by them. we are concerned in these cases with the explanation part to sub-section (11) of section 206c of the act which was inserted by the finance act with effect from 1-4-1992. insofar as liquor for human consumption (other than indian made foreign liquor), the percentage of collection of income-tax at source to ..... stated that the provisions of section 206c of the act are not applicable to them as they come within the category of explanation to section 206c sub-section (11) clause (a) 'buyer' sub-clauses (i) to (iii) which provisions were inserted by way of an amendment by the finance act, 1992, which have come into force with effect from .....