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The Income Tax Officer, Vs. Urban Improvement Trust

Court : Supreme Court of India

..... urban improvement trust might have been earlier getting benefit of wide definition of local authority prior to amendment by finance act, 2002 but after amendments in section 10(20) by finance act, 2002, urban improvement trust is no longer included in the definition of local authority. ..... and another, (2008) 9 scc434 in the above case, this court had examined the explanation to section 10(20) as amended by finance act, 2002 and the definition of local authority contained therein. ..... a judgment delivered by this very bench had considered in detail the object and purpose of section 10(20a), the object and purpose of finance act, 27 2002 amendment adding the explanation to section 10(20) and deletion of section 10(20a).35. ..... section 10(20a), which existed prior to amendments made by finance act, 2002 exempted any income of an authority constituted in india by or under any law enacted either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development ..... section 10(20) as amended by finance act, 2002 is as follows:- 10(20) the income of a local authority which is chargeable under the head "income from house property", "capital gains" or "income from other sources" or from a trade or busi- ness carried on by it which ..... refuting the 8 submission of appellant contends that urban improvement trust is fully covered by the definition of local authority as contained in explanation to section 10(20) as amended by finance act, 2002. .....

Deputy Commissioner of Income Tax Vs. Electropack [Alongwith Misc.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2005)94TTJ(Ahd.)973

..... ambastha, submitted that the tribunal had decided the matter before the amendment brought in by the finance act, 2002, in section 158b(b) with retrospective effect from 1st july, 1995, and, therefore, the order of the tribunal holding that this issue can be agitated in regular proceedings alone, suffers from a mistake apparent from ..... representative argued that addition made on account of bogus purchases, in case of all the three assessee's, be restored because the addition for the block assessment period was proper and just, in view of amendment made by the finance act, 2002, to section 158b with retrospective effect from 1st july, 1995. ..... applications were filed by the revenue, contending therein that there is a mistake in the three orders of tribunal because of retrospective amendment made by the finance act, 2002, to section 158b in the definition of "undisclosed income". ..... there was an amendment by the finance act, 2002, to section 158b, amending the definition of undisclosed income with retrospective effect from 1st july, 1995, which reads as under : 158b(b) "undisclosed income" includes any money, bullion, jewellery or other valuable articles or thing or any income ..... as per the amendment made by the finance act, 2002, to section 158b, the definition of "undisclosed income" is reproduced as under: 158b(b) : 'undisclosed income' includes any money, bullion, jewellery or other valuable article or thing or any income based on any entry in the books of account or other documents .....

The Morarjee Goculdas Spg. and Vs. Dy. Commissioner of Income Tax,

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the learned departmental representative emphasized the amendment to section 158bb(1) by the finance act, 2002 with retrospective effect from 1.7.95 to the effect that the undisclosed income shall be computed "in accordance with the provisions of this act, on the basis of evidence found as a result of search or requisition of books of accounts or other documents and such other materials or information as are available with the assessing officer and relatable to such evidence. ..... in relation to the insertion by the finance act 2002 in the provisions of section 158b(b) with retrospective effect from 1.7.1995, the learned counsel for the assessee argued that so far as the finance bill was concerned, the amendment was introduced to have prospective effect. ..... assessment is to be made, is defined in section 158b(b) which include money, bullion, jewellery or other valuable article or thing or any income based on any entry in the books of accounts or other documents or transactions, where such money, bullion, jewellery, valuable articles, thing entry in the books of account or other document or transaction represents wholly or partly income or property which has not been or would not have been disclosed for the purpose of this act and after the amendment by finance act, 2002 w.e.f. ..... " these words though inserted by the finance act, 2002, have been given retrospective effect from july 1, 1995. .....

Smt. Jyoti M. Bhandari Vs. Asstt Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)6SOT375(Ahd.)

..... the cases relied upon by the assessee, in our opinion, have no bearing on the issue raised in these cases after the amendment with retrospective effect from 1-7-1995 by finance act, 2002 in section 158bb(1)(a). ..... this was a case decided on 1-12-1999 and was prior to the amendment by finance act, 2002 with retrospective effect from 1-7-1995 and, therefore, would not be of any help to the assessee, the definition of 'undisclosed income' in section 15813(b) includes any money, bullion, jewellery or other valuable article or thing or any income based on any entry in the books of account or other documents or transactions, where such money, bullion, jewellery, valuable article, thing, entry in ..... this is a case prior to the amendment in section 158bb(1) by the finance act, 2002 with retrospective effect from 1-7-1995 wherein the due date for filing the return of income has expired but no return of income has been filed, the reduction to be allowed is nil unless the case of the assessee falls in clause (c) of section 158bb and that position is to be seen with reference to the date of commencement of the search or the date of requisition. .....

themis Pharmaceuticals and ors. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2003)(157)ELT569Tri(Mum.)bai

..... (v) amendment of section 35c by the finance act, 2002, places a specific legal restraint on exercise of such incidental power beyond 180 days as per clear wordings of sub-section (2a) of the said secction ..... ration of the aforecited order of the larger bench and reference to the notes on clauses to the finance bill, 2002, also support the view that after enactment of the finance act, 2002, on 11/05/2002, the tribunal does not have power to extend stay orders beyond 180 days.9. ..... we, in fact, note a contrary decision rendered by a three-member bench in the case of cce, bhubaneshwar vs oripof industries -2003(155) elt 278 (tri-lb) in the context of another amendment made through the finance act, 2001 to the effect that after a conscious interference by the legislature to do away with a specific power, the tribunal will not be justified to given an interpretation holding retention of the said power as an inherent ..... extension and repeated extensions beyond 180 days would make the said provision nugatory and frustrate its clear mandate, (c) the legislative change made by the parliament through the finance act, 2002 would become redundant if such extensions beyond 180 days are to be granted by the tribunal. ..... we find that according to notes on clauses to the finance bill, 2002, amendment of section 35c seeks to provide that in cases where stay order has been passed by the tribunal, time-limit for disposing of the appeal shall be 180 days and also to provide for automatic vacation of the .....

Zee Telefilms and Star India Vs. Commr. of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2006)3STR304

..... in these applications, the petitioners contend that while passing the final order we had overlooked sub-section (2) of section 148 of the finance act, 2002 which made retrospective amendment to section 65(13) of finance act, 1994 as amended by finance act, 2001. ..... in order to get the benefit of sub-section (2) of section 148 as claimed by the petitioners the service tax liability would have arisen only as a result of the amendment with retrospective effect brought in by finance act, 2002. ..... the adjudication orders were passed much before the amendment by finance act, 2002 came into effect.4. ..... it is relevant to note neither the show cause notice nor the orders passed by the departmental authorities had relied on the amendment by finance act, 2002 to sustain the demand. ..... the demand was for a period from 16-7-2001 to 30-9-2001 alleging that the appellants became liable to pay service tax with effect from 16-7-2001, the date on which finance act, 1994 came to be amended by finance act, 2001. ..... , tribunal or other authority, recovery shall be made of all such service tax which have not been collected but which would have been collected, if sub-section (1) has been in force at all material times, within a period of thirty days from the date on which the finance bill, 2002 receives the assent of the president, and in the event of non-payment of such service tax so recoverable, interest at the rate of fifteen per cent per annum .....

Mrs. Aruna M. Katara Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2004)82TTJ(Pune.)363

..... it was also emphasised that the proviso does not suggest it to be clarificatory in nature and moreover, other amendments in section 158bc and 158bc though made by the same finance act, 2002, yet these were made effective from 1st july, 1995, whereas the proviso to section 113 was inserted by finance act, 2002, w.e.f. ..... further it is noted that amendment to section 113 brought in by finance act, 2002, is classificatory in nature since there were some problem in adopting the rate of surcharge as applicable when the order was passed as if posed unintended tax liability depending the date when the order was passed. ..... after having heard both the sides and considering the material on record as well as case law cited, the point for consideration is whether proviso to section 113 inserted by finance act, 2002, w.e.f.1st june, 2002, is to be made applicable retrospectively or prospectively. ..... 20) act, 1996 provided for surcharge on tax leviable under section 113 by making a specific cross reference to section 113 and this will vindicate the doubt arising from the fact that para e of part i of the first schedule did not provide for surcharge in finance act, 1995. ..... further it is noted that second proviso to section 2(7) both under finance act, 1995, and finance (no. .....

Mange Ram Mittal Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... as a matter of fact the debate as to whether the computation of undisclosed income in an order under section 158bc should be restricted to the undisclosed income discovered as a result of search only stands already concluded by the amendment to section 158bb by the finance act, 2002 with retrospective effect from 1-7-1995. ..... the learned counsel compared the language of provisions of section 158bb as enacted originally and as amended by the finance act, 2002 with retrospective effect from 1-7-1995. ..... even after the amendment by the finance act, 2002 with retrospective effect from 1-7-1995 the doors have been kept ajar to let in other materials or information gathered by the assessing officers during the course of post search enquiry, but such other materials or information as ..... disposal as well as for consideration and decision on the following question: what is the meaning and scope of phraseology, such other materials or information as are available with the assessing officer and relatable to such evidence appearing in section 158bb(1) of the act as substituted by the finance act, 2002 with retrospective effect from 1-7-1995." 2. ..... the provisions of sections 69, 69a to 69d have been consciously incorporated in section 158bb(1) by way of substitution made by the finance act, 2002 with retrospective effect from 1-7-1995 whereby the words "provisions of chapter iv" have been substituted by the words "provisions of this act". .....

Mange Ram Mittal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)103ITD389(Delhi)

..... whether the computation of undisclosed income in an order under section 158bc should be restricted to the undisclosed income discovered as a result of search only stands already concluded by the amendment to section 158bb by the finance act, 2002 with retrospective effect from 1st july, 1995. ..... language of provisions of section 158bb as enacted originally and as amended by the finance act, 2002 with retrospective effect from ..... even after the amendment by the finance act, 2002 with retrospective effect from 1st july, 1995 the doors have been kept ajar to let in other materials or information gathered by the aos during the course ..... decision on the following question: what is the meaning and scope of phraseology, 'such other materials or information as are available with the ao and relatable to such evidence' appearing in section 158bb(1) of the act as substituted by the finance act, 2002 with retrospective effect from 1st july, 1995.2. ..... sections 69, 69a to 69d have been consciously incorporated in section 158bb(1) by way of substitution made by the finance act, 2002 with retrospective effect from 1st july, 1995 whereby the words "provisions of chapter iv" have been substituted by the words "provisions of this act ..... the insertion of the words "relatable to such evidence" by the finance act, 2002 with retrospective effect from 1st july, 1995 is intended to restrict the scope of material or information that may be relied upon by the ao because the same has to be relatable to evidence found .....

Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

..... legislature amended the provisions of section 143(1a) of the act with retrospective effect but no retrospective amendment has been made under section 271(1)(c) of the act; legislature, vide finance act, 2002, amended section 271(1)(c) of the act w.e.f. ..... 'section 271(1)(c) of the act has been further amended by finance act, 2002, by which clause ..... not there and the amendment made by the finance act, 2002, in clause (iii) ..... confirmed by the apex court still hold good and the amendment by the finance act, 2002, w.e.f. ..... 4 to section 271(1)(c) by the finance act, 2002, there is no manner of doubt that the penalty is leviable even in the cases where no tax is payable and income is assessed at a loss in ..... it may be mentioned here that in view of the aforesaid decision, section 143(1a) of the act has been amended by finance act, 1993, with retrospective effect from 1st april, 1989 specifically providing for the levy of additional tax where the loss declared by such persons in the return of income is reduced or ..... it may also be useful to consider the provisions of section 143(1a) before the amendment by finance act, 1993, which reads as follows :'where, in the case of any person, the total income, as a result of the adjustments made under the first proviso to clause (a) of sub-section (1), exceeds the total income declared in the return by any amount, the ao shall,--(i) further increase the amount of tax payable under sub-section (1) by an additional income-tax calculated at the rate of twenty .....