Judgment Search Results Home > Cases Phrase: finance act 1994 section 37 amendment of section 143 Court: income tax appellate tribunal itat Page 1 of about 2,524 results (0.229 seconds)

M.M.J. Plantations Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2002)83ITD741(Coch.)

..... of the cit(a) is that the interest is to be levied only upto the date of intimation under section 143(1)(a) in terms of the provisions of s, 234b, as they stood prior to the above-mentioned amendment by finance act, 1995, with retrospective effect from 1st april, 1989. ..... 1999, the hon'ble kerala high court directed the tribunal to take a fresh view in the light of certain amendments made in section 234b of the it act by finance act, 1995, with retrospective effect from 1st april, 1989, and also to consider the issue relating to registration of the ..... view of the matter, we find no merit in the contention of the learned departmental representative before us that the interest under section 234b should be levied upto the date of the regular assessment in view of the above-mentioned amendment introduced by the finance act, 1995, and also that the interest should be levied on the tax as applicable to an unregistered firm.5. ..... , 1995, in ita no.755/coch/1994, but such refusal of registration is consequent to or in the course of the assessment framed under section 143(3) and it is not relatable to the intimation sent under section 143(1)(a). ..... assessment was completed on the assessee-firm under section 143(3) on 29th march, 1994, and in this assessment order interest under section 234b was levied at an amount of rs. ..... 29th march, 1994, assessed the total income ..... , 1994, it has been held that the firm is not entitled to registration and the status of the firm should be treated as ..... , 1994, for the .....

Deputy Commissioner of Income Tax Vs. Manish Organics India Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2000)68TTJ(Ahd.)504

..... the amended section 143(1a) has been made operative by the finance act, ..... by the legislature to be a penalty as amply demonstrated by the fact that explanation 6 to sub-section (1) of section 271, introduced by the direct tax laws (amendment) act, 1989 provides that where any adjustment is made in the income or loss, declared in the return under the proviso to clause (a) of sub-section (1) of section 143 and additional tax charged under that section, the provisions of sub-section (1) of section 271 for imposition of penalty would not apply in relation to the adjustments so made. ..... section 143(1a)(a)(ii) has been brought on the statute book in the present form by the finance act, 1993, which has ..... in the instant case, returns for both the assessment years have been filed prior to enactment of amended section 143(1a) and, therefore, the assessee could not be inflicted penal liabilities on account of additional tax for the assessment year under consideration ..... the commissioner (appeals), dated 23-4-1993, for assessment year 1990-91.the only ground taken by the revenue is against the direction of the commissioner (appeals) that the additional tax under section 143(1a) is not chargeable when total income after making adjustments under section 143(1)(a) is a loss.the facts in brief are that the assessee filed a return for assessment year 1990-91 showing loss of rs. ..... union of india (1994) 210 itr 121 (ker).a contrary view, however, has been taken by the hon'ble gauhati high court in the case .....

Deputy Commissioner of Vs. Nimar Kshitriya GramIn Bank

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (1998)64ITD190Indore

..... under sub-section (1a) of section 143 and made further amendment by finance act, 1993 ..... amendment under section 143(1a) of the act was brought to the statute by the finance act ..... after the amendment brought under section 143(1a) by the finance act, 1993 w.e.f ..... proper application of this amended provision, we should examine the intentions of the legislature, since beginning when this provision was brought to the statute and an amendment was made therein by the finance act, 1993, with retrospective ..... tax that would have been chargeable had such total income been reduced by the amount of adjustments and specify the additional income-tax in the intimation to be sent under sub-clause (1) of clause (a) of sub-section (1); (b) in a case where the loss so declared under sub-clause (ii) of this clause or the aforesaid adjustments have the effect of converting that loss into income calculate a sum (hereinafter referred to as additional ..... about the exigibility of the additional tax in the assessee's case when he has declared the loss in its return, we feel it proper to reproduce provisions of section 143(1a) for our ready reference, which are as under :- "143(1a)(a) whereas 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 ..... india [1994] 210 itr 121 and made an observation as under :- "the object of section 143(1a) is .....

Dy. Cit Vs. Cochin, Malabar Estates and

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2006)5SOT497(Coch.)

..... finance act, 2001 has introduced the changes in section 149, which regulates section 148 of the income tax act ..... those notices were issued more than four years after the end of the relevant assessment year without obtaining the satisfaction of the cit, as required under the provisions of section 151 (1) of the income tax act.after considering the objections of the assessee and the record, the cit (appeals) was of the opinion that there was no omission or failure on the part ..... the learned commissioner (appeals) erred in holding that the issue of notice under section 148 for assessment year 1987-88 is bad in law.the commissioner (appeals) ought to have found that as per the law as it stood before amendment with effect from 1-6-2001, reassessment proceedings could have been validly initiated up to a period of ten years from the end of the relevant assessment year ..... section 147 is concerned, there are certain mandatory conditions for reopening of assessment and no amendment has been brought in section 147 ..... the part of the appellant to file any material particulars in the course of the original assessment.the original income tax assessment under section 143(3) had been completed in this case on 29-11-1994 on a total income of nil.under these circumstances the reopening of assessment under section 147 after the expiry of 4 years is bad in law. ..... the income-tax (second amendment) rules, 2001 introduced rule 7a with effect from 1-4-2002 providing the computation of income f rom the sale of .....

Deputy Commissioner of Income Tax Vs. CochIn Malabar Estates and

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2006)104TTJ(Coch.)434

..... moreover, the finance act, 2001 has introduced the changes in section 149, which regulates section 148 of the it act.in the circumstances mentioned in section 147, the only time-limit for the revenue is 4 years and considering the facts and circumstances of the present case, the cit(a) has rightly come to the conclusion that there was no failure on the ..... by the cit(a) which found favour for the assessee was that the period of limitation fixed by the statute was violated and hence the cit(a) declared all the assessment orders framed by the ao under section 143(3) r/w section 147 as invalid and cancelled the same.the cit(a) observed that as he has only considered the objection of the assessee on the procedural aspect of the reassessments for all the years under consideration, he had not ..... after the introduction of rule 7a representations were made to the cbdt, whether the it authorities on the basis of the said rule 7a or 7b, as the case may be, can initiate proceedings under section 147 or under section 263 of the it act for the assessment years prior to 2002-03 to determine the income liable to income-tax even if the assessee had already paid agricultural income-tax on such income. ..... as far as section 147 is concerned, there are certain mandatory conditions for reopening of assessment and no amendment has been brought in section 147 as far as period of limitation is concerned. ..... , 1994 on a total income at nil. ..... , 1994 on a total income at nil. ..... , 1994 on a total income of rs. .....

Deputy Commissioner of Income Tax Vs. Verifone Software Systems (P)

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2003)84ITD521(Bang.)

..... by the finance act, 1993 to section 143(1a).49. ..... section 143(1)(a); (iii) thirdly, in the case before the hon'ble supreme court, the law as on the date of filing the return of income was different, inasmuch as the cash compensatory support was not taxable, but there was retrospective amendment to section 28 by which the cash compensatory support became taxable when the intimation was passed by the ao; (iv) fourthly, the court was dealing with retrospective amendment of section 28 by finance act, 1990, vis-a-vis section 143(1a) and not the retrospectively made amendment ..... (1994) 210 itr 121 (ker) : tc 10ps.13, observed that the object of section 143(1a) is prevention of tax evasion, it was observed thus : apart from that the objective section 143(1a) is prevention of tax evasion, its purpose is to see that the assessee makes a true and correct disclosure of the income and expenditure. ..... union of india (1994) 210 itr 121 (ker) (at p. .....

Arunkumar Champalal (Huf) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)86ITD709(Mum.)

..... the issue involves an interesting legal issue pertaining to interpretation of the provisions of sections 143(1) and 154 of the it act, as amended by the finance act, 1999 w.e.f. ..... the learned counsel appearing on behalf of assessee contended that section 143(1) was substituted by the finance act, 1999 w.e.f. ..... at this stage, the purpose of the amendments in sections 143(1) and 154 may be considered by reproducing below the relevant portion of the memorandum explaining provisions in finance bill, 1999 [(1999) 236 itr (st) 173] : "simplification of procedure of processing of return under sub-section (1) of section 143 and doing away of prima facie adjustment: under the existing provisions of income-tax all the returns filed are processed under sub-section (1) for payment of tax and issue of refund. ..... here, a question may arise regarding the purport of the amendment of section 154 of the it act vesting the it authorities to amend an intimation issued under section 143(1). ..... it is also proposed to amend section 154 of the it act to provide for rectification of intimation or deemed intimation referred to in the proposed sub-section (1) of section 143. ..... prior to this amendment and that under the old provisions, while processing the return of income under section 143(1), of the it act, the ao was vested with certain powers to make prima facie adjustment/variations in the returned income. ..... ito (1994) 49 ttj (hyd) 375 : (1994) 49 itd 617 (hyd). .....

Asstt. Cit Range-1 Vs. Mohd. Umar Asarafi

Court : Income Tax Appellate Tribunal ITAT Delhi

..... with effect from 1-4-1998, second proviso to section 143(1)(a) was substituted by the finance act, 1997, which was operative till 1-6-1999. ..... as a result of insertion of explanation to section 143 by the finance act (no. ..... on a comparison of the provisions as it stood before the direct tax laws (amendment) act, 1987 and the provisions as substituted by the direct tax laws (amendment) act, 1987, it would be clear that: the scope and effect of section 147 as substituted with effect from 1st april, 1989, as also sections 148 to 152 are substantially different from the provisions as stood prior to such substitution.14. ..... in the instant case assessment were not completed under section 143( 1), as it stood prior to amendment of section 143(1) with effect from 1-4-1989, but only intimation were issued under section 143(1), as per provisions stood during the years under consideration. ..... 2) of 1999, an intimation sent to the assessee under section 143(1)(a) was deemed to be an order for purposes of section 246 between 1-6-1994 to 31 - 3-1995 and under section 264 between 1-10-1991 and 31-5-1999. ..... 2) of 1991 with effect from 1-10-1991 and subsequently with effect from 1-6-1994 by finance act, 1994 and ultimately omitted with effect from 1-6-1999 by explanation as introduced by the finance act (no. .....

Amit Estate Organizer Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)113TTJ(Ahd.)1018

..... of alleged difference in cost of construction; there shall have to be a corresponding deduction of identical amount because the amendment brought about in section 69c by finance (2) act of 1999 being effective from 1st april, 1999 was applicable only for asst. yr. ..... effect from 1st april, 1998, second proviso to section 143(l)(a) was substituted by the finance act, 1997, which was operative till 1st june, 1999 ..... , 1994 by finance act 1994. ..... result of insertion of explanation to section 143 by the finance act (no. ..... the eyes of law and, therefore, the same are held to be illegal and bad in law.19.2 having held as above, we are, further, of the opinion that all the consequential proceedings including issuance of notice under section 148 of the act and assessment framed under section 143(3) r/w section 148 of the act on 28th march, 2002 were also illegal and bad in law.the assessment is, therefore, quashed/cancelled.20.1 even otherwise, the validity of initiation of proceedings under ..... 1999, an intimation sent to the assessee under section 143(l)(a) was deemed to be an order for purposes of section 246 between 1st june, 1994 to 31st march, 1995 and under section 264 between 1st oct. ..... 1990-91, 1991-92, 1992-93, 1993-94, 1994-95 and 1995-96, were processed under section 143(l)(a).contention of assessee was that returns of all these years were filed in time and assessments were also completed under section 143(l)(a) and that even the valuer did not give opportunity of hearing before making .....

Arihant Builders Developers and Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (2007)106ITD10Indore

..... effect from april 1, 1998, the second proviso to section 143(l)(a) was substituted by the finance act, 1997, which was operative till june 1, 1999. ..... act of 1991 with effect from october 1,1991, and subsequently with effect from june 1, 1994, by the finance act, 1994, and ultimately omitted with effect from june 1, 1999, by the explanation as introduced by the finance (no ..... 2) act of 1991 an intimation sent to the assessee under section 143(l)(a) was deemed to be an order for the purposes of section 246 between june 1, 1994, to may, 31, 1999, and under section 264 between october 1* 19991, and may, 31, ..... is also not disputed by shri choudhary that intimation sent by the assessing officer under section 143(1) after amendment of the sub-section as noted by the hon'ble delhi high court is not an "assessment". ..... it is a case of assessment year 1992-93, but we find that the provisions of section 44ad of the income-tax act, 1961, have been inserted into the income-tax act, 1961, with effect from 1.4.1994 provided in sub-section (1) special provision for computing profits and gains of business of civil construction. ..... though strictly these provisions are inserted in the act with effect from 1.4.1994, but these provisions could be a guideline for the purpose of applying a particular net profit rate in the case of the civil contractor even in earlier ..... 952/ind/1994 reference under section 256(1) was made before the ..... , indore bench dated 19^th july, 1994, for assessment year 1991-92 in the case of .....