Court : Kolkata
Reported in : (2009)223CTR(Cal)241,[2009]319ITR264(Cal)
..... the dy. cit(a) or the cit(a), by the ao also:from 14th may, 1992 : finance act, 1992 : a proviso to sub-section (2) was inserted with effect from the date on which the finance act, 1992, received the assent of the president, i.e., 14th may, 1992. as per the existing provisions, an assessee can file an application for rectifying any mistake in ..... of the appellant contended that the disallowance in both the years has been made with regard to the provision of section 43b. section 43b was inserted in the act by the finance act, 1983 w.e.f. 1st april, 1984, providing for deduction of certain amounts only upon actual payment irrespective of the method of accounting employed by the assessee ..... will start from that date : see circular no. 668, dt. 20th oct., 1993, (1993) 115 ctr (st) 1 : (1993) 204 itr 104.from 1st june, 1994 : finance act, 1994 : the proviso to sub-section (2) has been omitted with effect from 1st june, 1994; because w.e.f. that date, intimations under section 143(1) and section 143 .....
Tag this Judgment!Court : Karnataka
Reported in : [2006]286ITR136(KAR); [2006]286ITR136(Karn)
..... april, 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. 1st april, 1992. insofar as liquor for human consumption (other than indian made foreign liquor), the percentage of collection of income-tax at source to be ..... is 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 w.e.f. 1st .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1997]228ITR653(P& H)
..... source from the petitioners is illegal and without jurisdiction. as a logical corollary, it has to be held that the provisions of section 206c as amended by the finance act, 1992, are not available to the income-tax department to compel citco to deduct income-tax at source from the petitioners.24. consequently, the writ petitions are allowed. ..... the respondents for deducting tax at source from the petitioners, it will be usefulto take notice of the relevant statutory provisions. section 206c(1) as amended by the finance act, 1992 reads as under :' 206c. (1) every person, being a seller shall, at the time of debiting of the amount payable by the buyer to the account ..... income-tax on excise duty payable by petitioners holding l-14 liquor licences.'15. by the finance act, 1992, section 44ac was deleted from the act. however, deduction of income-tax at source was again resorted to under section 206c of the act. this was sought to be justified on the basis of the amendment made in section 206c .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2002]253ITR205(P& H)
..... from the petitioners is illegal and without jurisdiction. as a logical corollary, it has to be held that the provisions of section 206c as amended by the finance act, 1992, are not available to the income-tax department to compel citco to deduct income-tax at source from the petitioners.'8. in naresh kumar and co. v ..... india . some of the observations made in that judgment are reproduced below (headnote) :'a perusal of the amendment of section 206c of the income-tax act, 1961, by the finance act, 1992, shows that there was no significant change from the provision as it existed in sections 44ac and 206c before their amendment. section 44ac stands repealed but its ..... others against the order passed by the division bench of this court was dismissed by the supreme court.4. thereafter, by virtue of the finance act, 1992, section 44ac of the 1961 act was deleted and its substantial portion was incorporated in section 206c, making it a charging as well as collecting section. the relevant extract of .....
Tag this Judgment!Court : Kerala
Reported in : (2008)11VST53(Ker)
..... with effect from april 1, 1992 and further substituted by the finance act, 1993, published in the kerala gazette no. 767 dated july 29, 1993, reads as follows:(4) ..... 1992 which are pending completion of assessments and that if the provisions of section 17(4) of the act are satisfied the assessing authority is bound to complete the assessment accordingly.4. in order to appreciate the rival contentions, we have to consider the relevant provisions of the act. section 17(4) of the act, as substituted by finance act, 1992 ..... -1, second circle, alappuzha [1998] 6 ktr 399 (ker), where it was held that the provisions of section 17(4) of the act, introduced with effect from april 1, 1992, will apply even to pending assessments. it was also observed therein that if the conditions of section 17(4) are satisfied, the said sub .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)190CTR(Guj)414; [2004]270ITR408(Guj)
..... for the period prior to 1.4.1993 and, therefore also, the land in question cannot be considered to be urban land.clause (ea) inserted in section 2 by finance act 1992 with effect from 1.4.1993 merely clarified the definition of 'urban land' which was even otherwise includible in the assets as defined by clause (e) in section 2 ..... only in respect of one of such houses which the assessee may, at his option, specify in his behalf in the return of net wealth]. ** proviso omitted by the finance act, 1992 w.e.f. 1.4.1993.explanation- for the purposes of this sub-section,-(i) where the house has been constructed by the assessee, he shall be deemed to ..... the case of kalipada ghosh (supra) merely provide that house would include appurtenant land which is the clarification made by the amendment made by finance act, 1992 by inserting clause (ea) in section 2 of the wealth-tax act with effect from 1.4.1993. the decision, however, does not lay down any principle for determining as to how much land is .....
Tag this Judgment!Court : Delhi
Reported in : (2005)195CTR(Del)593; 117(2005)DLT733; 2005(80)DRJ365; [2007]290ITR615(Delhi)
..... . in order that there is no ambiguity left while not allowing exemption to the assessed company, the amendment by finance act 1992 in wt act was also discussed on page 2 of the assessment order. it has been discussed that clause 2(ea) to section 2 ..... from the date of its acquisition by him];'7. the provisions underlined by us in the above provision were inserted by the finance act, 1993 and made effective from 1.4.1994. we are dealing with the relevant assessment year for 1993-94. on the bare ..... 1994 mentioned in the amendment, the ar's contention that exemption should be allowed in view of the amendment brought about by the finance act 1993 in the a.y. under consideration is clearly misplaced, the same cannot be accepted and is accordingly rejected. 25.0 ..... above it becomes clear that the ar is admitting that it is only on the basis of the amendment brought about by the finance act 1993 applicable from a.y. 1994-95 that exemption is being claimed by the appellant. inspire of it being clearly and .....
Tag this Judgment!Court : Delhi
Reported in : [2009]319ITR29(Delhi); [2009]180TAXMAN128(Delhi)
..... the debate, that is section 194h, was first brought on to the statute book by the finance (2) act, 1991 with effect from 1-10-1991. the section was amended by the finance act, 1992 with effect from 1-6-1992. the section was omitted from the statute book by the finance act, 1999 with effect from 1-4-2000. the said section 194h was reintroduced in the ..... statute book in its present avatar by the finance act, 2001 with effect from 1-6-2001. we are concerned with .....
Tag this Judgment!Court : Delhi
Reported in : (2009)222CTR(Del)430; [2009]312ITR22(Delhi); [2009]177TAXMAN168(Delhi)
..... appeal, it would be sufficient, if a note is made of the fact that the section was amended by the finance act, 1992 with effect from 01.04.1993, thereafter by the finance act, 1993 with effect from 01.04.1994, then the finance act, 1994 with retrospective effect from 01.04.1994 and with effect from 01.04.1995, then by ..... by notification in the official gazette, specify with reference to any particular industrial undertaking.the followi1ng clause (iv)(a) was substituted for the existing clause (iv) by the finance act, 1993 with effect from 01.04.1994:(iv)(a) in the case of an industrial undertaking not specified in sub clause (b), it begins to manufacture or produce ..... the law relevant to the initial year of its production i.e., assessment year 1994-95 and the changes that were brought about with the enactment of the finance act 1999, with effect from 01.04.2000. considered in the background of these facts and circumstances, the tribunal has rightly held that the respondent/assessee was not .....
Tag this Judgment!Court : Chennai
Reported in : [2006]287ITR40(Mad)
..... banking not being a co-operative society providing credit facilities to farmers or village artisans).this sub-sections (5a) was inserted by the finance (no. 2) act, 1991 w.e.f. 1st oct., 1991 and by the finance act, 1992, the words in a square brackets in the above sub-section, namely 'or a co-operative society engaged in carrying on the business ..... or village artisans' were omitted w.e.f. 1st april, 1993. accordingly these words were part of sub-sections (5a) of section 2 of the act from 1st oct., 1991 to 31st march, 1992.7. thus, going by the relevant provisions, it may be seen that under the charging section in respect of credit institution other than scheduled banks, ..... and nil return was filed, since the appellant did not come in the purview of the interest-tax act. the ao held that the interest accruing to the appellant-assessee for the period from 1st oct., 1991 to 31st march, 1992 should be brought to tax under the provisions of interest-tax by holding that the appellant-society is .....
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