Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)98ITD200(Chd.)
..... the following clause (d) shall be inserted after clause (c) of sub-section (1) of section 271 by the finance act, 2005, w.e.f. ..... on appeal, the hon'ble supreme court held that when the ito reached the satisfaction that the appellant had concealed his income and made the assessment order on 27th march, 1972, the amended provisions of section 274(2) were in operation and they entitled the ito to impose penalty in cases where the amount of income in respect of which particulars had been concealed were less than rs. ..... there were several amendments between 1975 and 1988 with which we are not concerned: however, there was an amendment by the direct tax laws (second amendment) act, 1989 by virtue of which clause (c) was incorporated in section 275 w.e.f. ..... (2) the provisions of this section as they stood immediately before their amendment by the direct tax laws (amendment) act, 1987 (4 of 1988), shall apply to and in relation to any action initiated for the imposition of penalty on or before the 31st day of march, 1989 ..... in the year 1970, section 275 was amended so as to obviating difficulties in such cases where the assessments were subject-matter of appeals and the additions were either deleted or ..... the it (second amendment) act, 1981 (hereinafter referred to as the amending act) represents another step in the same ..... if the ao of the cit(a) or the cit in the course of any proceedings under this act is satisfied that any person-- (a) omitted by the direct tax laws (amendment) act, 1989 w.e.f. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)107ITD343(Chd.)
..... looking to the curative nature of the amendment made by the finance act, 1987, it has been submitted before us that the proviso which is inserted by the amending finance act of 1987, should be given retrospective effect and be read as forming a part of section 43b from its inception. ..... 1984-85, or any subsequent year on the ground that he has actually made a payment towards such liability in that year.there was an amendment in section 43b by the finance act, 1987 which may not be relevant for the purpose of present controversy. ..... the said circular and the amendment is also not relevant for the purpose of the present controversy.finance act, 1989 made yet another amendment in section 43b by virtue of which 2nd proviso to section 43b was substituted w.e.f. ..... that the words "any sum payable" shall mean any sum, liability for which has been incurred by the taxpayer during the previous year irrespective of the date by which such sum is statutorily payable.finance act, 1990 made yet another amendment in section 43b by virtue of which clause (d) of section 43b was amended. ..... , 2005 has erred in law and on the facts of the case in allowing deduction under section 43b of the act, being incremental balance with excise authorities in pla and rg-23. 2. ..... cit (2005) 92 ttj (del) 987 : (2005) 92 itd 119 (del) has held that advance payment in cash of taxes or duties without incurring liability to pay such taxes or duties cannot be allowed as a deduction under section 4313 of the act. ..... , 2005. 3. ..... , 2005. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)100ITD365(Chd.)
..... (iii) the provisions of section 32(2) as amended by finance (no. ..... (v) there is nothing to show in the amendment made by the finance act, 2001 which are applicable for the assessment year 2002-03 that those provisions are not to apply in respect of depreciation relating to the assessment years 1997-98 to 2001-02. ..... (iv) in fact the intent and purpose of the amendment made in 1996 has been clarified by the finance minister on the floor of the parliament as under: clause 11 of the bill seeks to amend section 32 of the income-tax act, 1961 relating to depreciation. ..... law was amended with effect from assessment year 1997-98 in the intervening period, there was wide spread apprehension about the treatment of unabsorbed depreciation as on 1-4-1997 and limitation period of 8 years and to allay the fear, the then finance minister made a speech in the parliament which were although already mentioned in the assessee submissions is repeated here at the cost of the repetition: clause 11 of the bill seeks to amend section 32 of the income-tax act, 1961 relating ..... thus as used by the legislatures, amendment and repeal may differ in kind - addition as opposed to withdrawal or only in degree -abrogation of part of a section as opposed to abrogation of a whole section or act: or more commonly, in both kind and degree - addition of a provision to a section to replace a provision being abrogated as opposed by abrogation of a whole section or act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)95TTJ(Chd.)404
..... section 32 was amended by the finance act, 2001. ..... the ao.2.7 we have considered these submissions of the assessee but the fact remains that in case the assessee is legally entitled to claim depreciation in the assessment framed by the ao on the directions of the cit(a) issued under section 263 of the act, only then the same can be allowed to the assessee irrespective of the fact whether the ao has rightly allowed the part depreciation on the basis of the revised computation filed by the assessee during the ..... ii and for the first time this claim was filed before the ao, while he was passing a fresh assessment order in the light of the directions of the cit(a) issued under section 263 of the act.2.5 the first contention raised by the learned authorised representative for the assessee before us was that the principles of natural justice have not been complied with by the ao while reframing the set aside assessment. ..... it also appears that no appeal has been filed by the assessee against the original assessment and against the order passed by the ao under section 154 of the act.2.1 aggrieved with the order of the ao, the assessee went in appeal before the cit(a) and submitted before him a copy of the letter dt.20th sept. ..... explanation 5 inserted by the finance act, 2001, is also of no help to the appellant. ..... 5 inserted by the finance act, 2001, as the same should be deemed to have taken effect from the retrospective effect and so even during the assessment proceedings for the asst. yr. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2004)88TTJ(Chd.)450
..... force" stated in section 193 is to be found in the charging section 4 read with the finance act of the relevant previous ..... the appellant in view of the fact that in so far as interest on securities is concerned, the finance act, 1986, and finance act, 1987, did not provide for deduction of any surcharge on tax deducted at source in respect of interest ..... substance in the claim made by the assessee, treated the assessee as a defaulter and levied interest under section 201(1a) of the income tax act as per details given below : the assessing officer also imposed penalties in the two years under section 271c of the income tax act which was introduced with effect from 1-4-1989, for failure of the assessee to deduct surcharge as under : ..... is the principal officer does not deduct or after deducting fails to pay the tax as required by or under this act, he or it shall, without prejudice to any other consequences which he or it may incur, be deemed to be an assessee in default in respect of the tax '.provided that no penalty shall be charged under section 221 from such person, principal officer or company unless the assessing officer is satisfied that such person or principal officer or ..... was actually paid, the date of actual payment has to be determined and interest computed from the date of default to the aforesaid date as envisaged under sub-section (1a) of section 201 of the income tax act.the assessing officer has collected material from various recipients regarding surcharge paid by them. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)112TTJ(Chd.)94
..... insofar as the plea of the revenue based on the amendment made to section 36(1)(iii) by the finance act, 2003 is concerned we may refer to the decision of our co-ordinate bench in the case of swaraj engines ltd ..... , the ao noted that the amendment under section 36(1)(iii) made by the finance act, 2003 w.e.f. ..... no doubt in terms of the amendment made by the finance act, 2003 by way of insertion of the proviso, the impugned expenditure is ..... , 2005 wherein it is held that the amendment to section 36(1)(iii) is prospective in nature ..... cit (2005) 92 ttj (del) 987 : (2005) 92 ltd 119 (del ..... cit (2005) 194 ctr (cal) 509 : (2005) 144 taxman 435 (cal) is to the contrary ..... cit (2005) 98 ttj (chd) 346 : (2005) 97 itd 45 (chd) besides reliance was also placed on the decision of the rajasthan high court in the case of cit v ..... 309/chd/2005) in the earlier ..... 309/chd/2005) has been dealt with by us in the earlier paras in terms thereof the impugned ground of the assessee is liable to be decided against the ..... 310/chd/2005 is an appeal by the assessee against the order of the cit(a) ..... 309/chd/2005 is an appeal preferred by the assessee against the order of the cit(a) ..... cit (2005) 1 sot 232 (del ..... cit (2005) 1 sot 183 (mumbai), naveen projects ltd. v. ..... cit (2005) 1 sot 91 (del), ajit kumar ..... /chd/2005). ..... , 2005 for asst. ..... , 2005 pertaining to ..... , 2005 in favour of the ..... , 2005 has allowed the claim of the assessee.it is also pointed out that the appeal of the department on similar issue for the asst. ..... and 3689/del/2005) dt. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1996)57ITD385(Chd.)
..... at the time section 44ac was omitted from the income-tax act, section 206c was amended by the finance act, 1992 w.e.f. ..... our attention has been drawn to sub-section (2) of section 44ac which reads as under: (2) for the removal of doubts, it is hereby declared that the provisions of sub-section (1) shall not apply to a buyer (other than a buyer who obtains any goods, from any seller which is a public sector company) in the further sale of any goods obtained under or in pursuance of the sale under sub-section (1).section 44ac was enacted by the finance act, 1988 w.e.f. ..... 1-4-1993.section 206c was also enacted by the finance act, 1988. ..... 1-4-1989 and was subsequently omitted by the finance act, 1992 w.e.f. ..... it was held that l-13 licensees came within the purview of the proviso to section 44ac(1)(a) of the income-tax act and the provisions of section 206c and other parts of section 44ac(1) did not apply to them.the id. ..... there also, application of section 44ac was under examination and it was held that income-tax cannot be deducted from sales made to l-13 licensees by the distilleries under section 206c of the income-tax act.the id. ..... after section 44ac was omitted, the provisions were incorporated to the same effect in section 206c of the act. ..... for the assessee has vehemently argued that the issue stands finally settled by the decision of the jurisdictional high court and there was no question of income being assessed adopting the profit rate specified in section 44ac of the income-tax act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1996)56TTJ(Chd.)252
..... 206c was amended by the finance act, 1992, w.e.f. ..... 206c was also enacted by the finance act, 1988. ..... 1st april, 1989, and was subsequently omitted by the finance act, 1992, w.e.f. ..... 44ac was enacted by the finance act, 1988, w.e.f. ..... we have already examined the two provisions contained in the two sections on this issue. ..... it was held that none of the two sections offended arts. ..... (2) of that section as well as in view of the observations made by the punjab & haryana high court in the case of sat pal & co. ..... (2) of the said section. ..... 44ac(1)(a) of the it act and the provisions of s. ..... l-13 licensee acted as a stockist and handling agent. ..... it has not been explained why it was reduced to 40% in the act. ..... 44ac(2) of the act. ..... 44ac was omitted, the provisions were incorporated to the same effect in s.206c of the act. ..... goods obtained in pursuance of such sale, or (iii) a buyer where the goods are not obtained by him by way of auction and where the sale price of such goods to be sold by the buyer is fixed by or under any state act;.......... ..... 44ac was omitted from the it act, s. ..... 44ac of the it act. ..... there also, application of s.44ac was under examination and it was held that income-tax cannot be deducted from sales made to l-13 licensees by the distilleries under s.206c of the it act. ..... 44ac of the it act. ..... 28 to 43c of the it act. ..... 44ac of the act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1995)52ITD55(Chd.)
..... 20 in the list in the eleventh schedule to the income-tax act was omitted by the finance act, 1981 w.e.f. ..... 20 was omitted by the finance act, 1981, washing soap was excluded from the list when both the item nos. ..... counsel that washing preparations containing soap did figure in the list in the eleventh schedule till the entry was omitted by the finance act, 1981. ..... shahzada nand & sons [1966] 60 itr 392 wherein it was said that in a taxing act, one had to look merely at what is clearly stated and in a case of reasonable doubt the construction most beneficial to the subject is to be adopted. ..... 20 from the eleventh schedule to the income-tax act, washing soap came out of the said schedule. ..... tro [1993] 202 itr 946, stated that in a taxing act, one has to look merely at what is clearly said. ..... 2,92,110 for the manufacture of soap was held to be not eligible for investment allowance under section 32a of the income-tax act. ..... 4 in the eleventh schedule to the income-tax act and, therefore, any machine acquired for the purpose of manufacture of soap did not qualify for the purposes of investment allowance. ..... section 32a(2)(b)(iii) specified that investment allowance shall be allowed on a new machinery or plant installed after 31-3-1976 in any industrial undertaking for the purposes of business of construction, manufacture or production of any article or thing, not being an article or .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1994)48TTJ(Chd.)249
..... now there is not scope for the first appellate authority also to decide the issue in any manner other than in accordance with law as amended by the finance act of 1990 with retrospective effect from 1st april, 1967.8. ..... this provision.a cold storage plant fulfils the condition of producing an article or thing first and the thing produced is later on used for carrying in the business preservation of articles and goods.the language of the relevant section will be fully satisfied, if in the production of an end product, several intermediate articles are produced. ..... we are thus satisfied that the assessee has not been able to make out a case where cash payments were at all justified or necessary.there is, therefore, clear contravention of the section and the conditions under rule are not satisfied. ..... it was the doubt that existed in the section as introduced that was sought to be removed. ..... 37(3a) reveals that the items of expenditure specified in said sub-section are subject to sub-s. (3b). ..... even that section would come into operation only when the total expenditure exceeds at the relevant time rs. ..... that existed in the interpretation operation and application of a proviso, it cannot be said that doubt did not exist earlier and has to be removed only for a particular year and not from the time when the section was inserted. ..... therefore, it cannot be said that the rules are clear and the section is clear. ..... the appellant denies levy of interest under both the sections. .....
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