Judgment Search Results Home > Cases Phrase: finance act 2005 section 18 amendment of section 54ed Court: income tax appellate tribunal itat delhi Page 1 of about 91 results (0.094 seconds)

Mahanagar Telephone Nigam Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)100TTJ(Delhi)1

..... 2005) 93 ttj (del) 144 : (2005) 92itd 1 (del) where it has been held that the amendment carried out by the finance act ..... stand again observing that : section 80-ia(4c) was inserted in the act by the finance act, 1997 with retrospective effect ..... (ii) assessee's renewed claim that the technical upgradation of existing industrial undertaking would amount to starting of new industrial undertaking is also not allowable as the assessee-company is required to fulfil the conditions laid down in sub-section (2) of section 80-ia according to which in order to be entitled for making this claim, the assessee-company : (a) it is not formed by splitting up, or the reconstruction, of a business already in existence : provided that this condition shall not ..... the provision of section 80-ia(4c) introduced by the finance act, 1997 with retrospective effect from 1st april, 1996 is so clear that for non-fulfilment of the basic condition of starting the business of providing telecommunication services on or after ..... section 80-ia(4c) was inserted in the act by the finance act, ..... 723.30financial year 2000-01 23 exchanges 8 cellulars 2,471.86financial year 2001-02 68 cellulars & wll 2,662.15 on the basis of above figures it was argued that even if it is assumed that the deduction under section 80-ia is to be given on the basis of the undertaking which starts providing telecommunication services on or after 1st april, 1995, the ao should have allowed the deduction on the basis of the undertakings/exchanges which .....

income Tax Officer Vs. Ekta Promoters (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)117TTJ(Delhi)289

..... the above section was inserted by the finance act, 2003 with effect from first day of june, 2003 and the only amendment brought to this section is an amendment by taxation laws (amendment) act, 2003 whereby in sub-section (1) the words "two-third per cent", were substituted by the words "one-half per cent" w.e.f. ..... date of issue of notice 18.2.2005 21.2.2005 21.2.2005 under section 1487. ..... manjani, advocate, has argued the case for the assessee.he has submitted before us the following chart showing the date-wise events:--------------------------------------------------------------------------- return filed refund under reassessment reassessment section 143(1) notice date---------------------------------------------------------------------------1998-1999 31.3.1999 28.5.1999 18.2.2005 18.10.2005---------------------------------------------------------------------------1999-2000 31.3.2000 26.2.2000 18.2.2005 18.10.2005---------------------------------------------------------------------------2000 2001 22.8.2000 20.11.2000 18.2.2005 18.10.2005--------------------------------------------------------------------------- 21. ..... cit (2005) 97 ttj (del) 108 in which it was held that no interest could be charged under section 234d in respect of period prior to insertion of section 234d. ..... , 2005 --assessment order under section 143(3) (read with section 153) would be passed by 31st dec, 2006. .....

Addl. C.i.T., Special Range-5 Vs. Vestas Rrb India Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)275ITR81(Delhi)

..... however, the proviso clause to section 43b stands amended by the finance act, 2003. ..... the finance act, 2003 has deleted the second proviso and amended the first proviso by the finance act, 2003 w.e.f ..... in case the amendment is not accepted to be operative retrospectively, then the amendment so brought in to statute by the finance act, 2003 would produce inequitable and illogical ..... shiv dayal radhey shyam 259 itr 147 by observing that first proviso to section 43b of the act inserted by the finance act, 1987 is retrospective and if the sales tax had been paid after the due date but during the grace period allowed under the sales tax act that does not attract provisions of section 43b of the act. ..... have also come across a similar situation and therefore the principal approved by the apex court would also apply with equal force to the amended proviso, so as to have retrospective application of the amendment brought by finance act, 2003. ..... initially the first proviso was inserted in section 43b by the finance act, 1987 w.e.f. ..... assessment year 2004-2005 to be read as under; "provided that nothing contained in this section shall apply in relation to any sum which is actually paid by the assessee on or before due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return." 12 .....

Millennium Infocom Technologies Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)117TTJ(Delhi)456

..... since the payment for use of space in servers is in nature of royalty and income arising on use of, or the right to use, industrial, commercial or scientific equipment was not royalty before the amendment by the finance act, 2001 w.e.f. ..... this case the matter was restored to the file of ao to recompute the disallowance keeping in view the provisions of section 14a(2) and 14a(3) of the act which were inserted by finance act, 2006. ..... 2 to section 9(1)(vi) was inserted by the finance act, 2001 ..... observing as under: "in this view of the matter, the answers given by the high court that (i) the assessee who made the payments to the three non-residents was under obligation to deduct tax at source under section 195 of the act in respect of sums paid to them under the contracts entered into; and (ii) the obligation of the respondent assessee to deduct tax under ..... , 1997 prescribed a new procedure for the purposes of the remittence of payments under which issue of no objection certificate under section 195(2) by the it authorities has been dispensed with.8.11 however under section 195(2) the person responsible for paying any such sum, other than salary, chargeable under the act to a non-resident considers that the whole of such sum would not be income chargeable in the case of the recipient, he may make application to the ao to ..... 1st april, 2005, the provisions section 40(a) apply equally both in the case of resident and non-resident except payments for rent and royalty which are applicable .....

Jindal Strips Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)47ITD349(Delhi)

..... deduction was the amount of income-tax payable by the company in respect of the total income under the provisions of the income-tax act after making allowance for any relief, rebate or deduction in respect of income-tax to which the company may be entitled under the provisions of the income-tax act or the finance act, after excluding from such amount, the amount of income-tax, if any, payable by the company under the provisions of the annual ..... be reduced by- (i) the amount of income-tax payable by the company in respect of its total income under the provisions of the income-tax act after making allowance for any relief, rebate or deduction in respect of income-tax to which the company may be entitled under the provisions of the said act or the annual finance act and after excluding from such amount- (a) the amount of income-tax, if any, payable by the company in respect of any income referred to in clause ..... (i) or clause (ii) or clause (tit) or clause (vii) of rule 1 included in the total income; (b) the amount of income-tax, if any, payable by the company under the provisions of the annual finance act, with reference to the relevant amount of distributions of dividends .....

The Dy. Commissioner of Vs. Shri Bhim Singh Lather

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)282ITR151(Delhi)

..... the finance act, 2003 inserted sub-section (16) in section 155 to provide that where such amount of compensation or consideration is subsequently reduced by any court, tribunal or other authority, capital gain of that year in which the compensation or consideration received was taxed shall be recomputed accordingly and the assessing officer shall amend the order of assessment to revise the computation of said capital gain of that year by taking the compensation or consideration ..... and not the ownership right and the tribunal held that compensation in respect of tenancy right is not liable to capital gains tax under section 55(2) since section 55(2)(a) was substituted by finance act, 1994 with effect from 1-4-1995 including the tenancy right infer alia within the definition of "capital asset" having cost of compensation as nil.23. ..... finance act, 1987r however, made a change in the system of taxation of capital gain on accrual basis by insertion of the sub-section (5) to section 45 with regard to the (sic) compensation received by the assessee pursuant to the order of the court, tribunal or other authority, by providing that such additional compensation is to be charged under the heed "capital gain" in the previous year in which such compensation or part thereof was received by the assesses.therefore, prior to the amendment ..... has given his opinion on the reference made to him by his order dated 10.3.2005.in pursuance to the order of the hon'ble third member, we proceed to decide .....

State Trading Corpn. of India Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)36ITD497(Delhi)

..... this view of the matter we are clearly of the opinion that the decisions cited on behalf of the assessee in support of the theory of total merger no longer hold good in view of the explanation, clause (c) to section 263(1) which has been retrospectively amended by the finance act, 1989. ..... the existing explanation was, no doubt, substituted with effect from 1-6-1988 and it was also amended with effect from that date by the finance act, 1989, yet a plain reading of this clause clearly indicates that the legislature intended to give it a retrospective ..... shri srivastava then referred to the amendment introduced in the said explanation by the finance act, 1989 with effect from 1-6-1988.regarding this amendment also the contention advanced on behalf of the assessee was that it would operate only with effect from 1-6-1988 and, therefore, it would not apply to a case where an order was passed by the commissioner before the insertion of the amendment and in support of the contention that the explanation was not retrospective in ..... the above explanation was substituted by the new explanation by the finance act, 1988 with effect from 1-6-1988 and the explanation, clause (c) as substituted with effect from 1-6-1988 was as follows :- explanation - for the removal of doubts, it is hereby declared, for the purposes of this sub-section,- (c) where any order referred to in this sub-section and passed by the assessing officer had been the subject matter of any appeal, the power of the commissioner .....

M/S. L.G. Electronics India Private Limited Vs. the Asstt. Commissione ...

Court : Income Tax Appellate Tribunal ITAT Delhi

..... it was submitted that the expression in the nature of has been clarified by way of insertion of explanation to section 92b by the finance act, 2012 with retrospective effect from 1-4-2002, but the case under consideration does not fall in any of the sub-clauses of clause (i) of the explanation to section 92b so as to be called as an international transaction. 14.2. ..... 80hhc(3) of the act by amendment of the tax laws (amendment) act, 2005 with retrospective effect. ..... whereas section 80hhc was subjected to eleven amendments and its interpretation was not free from doubt and even the hon'ble summit court dealt with the question of validity of action u/s 263 without expressing any opinion on the scope of the said amendment of 2005, sub-sec. ..... further, the hon'ble supreme court observed that subsequent amendment in 2005, even though retrospective, will not attract the provisions of sec. ..... 80-hhc came to be amended eleven times and obviously there were two views in respect of the words losses or profits , which aspect was clarified by the 2005 amendment with retrospective effect. ..... it is patent from these observations that the hon'ble apex court did not go into the interpretation of the word profit as encompassing the word loss as well, which was the subject matter of the 2005 amendment under consideration. ..... it is of further significance to note that hon'ble supreme court in that case started with the remarks - we express no opinion on the scope of the said amendment of 2005 . .....

Vinod Khatri Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)82TTJ(Delhi)911

..... "filing fee for appeals before tribunal--the finance act has amended section 253 enhancing the fee to be paid for filing appeals before the tribunal. ..... it may be pointed out that by finance act, 1999 section 253(6) was amended by adding clause (d). ..... section 253(6), as it stood upto 31st may, 1992, prior to its amendment by finance act, 1992, provided that the memorandum of appeal in form no. ..... according to the learned counsel, the legislative intention in introducing clause (d) by the finance act, 1999 is to specifically provide that, in case of appeals which involve penalties under various sections of the it act like sections 269d, 271b, 271d and 271 etc. ..... 125 by the taxation laws (amendment) act (1970) finance act, 1981 further enhanced the court fee to rs. ..... the constitutional validity of the amended provision substituted by finance act, 1992 has been upheld by the rajasthan high court in the case of moti engineering (p) ltd. v. ..... originally taken as the date of initiation of the assessment proceedings and the same has been changed and the scale of fees has been linked with the assessed income w.e.f.1st june, 1992 as per the amendment inserted by finance act, 1992. ..... now, coming to clause (d) which has been added to section 253(6) by finance act, 1999 w.e.f. ..... the finance act, 1999 inserted clause (d) to section 253(6) with a view to provide for payment of fee in appeals which fall in the residuary group and are not relatable to the assessed income. .....

R.S. Avtar Singh and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)14ITD366(Delhi)

..... these were : (a) for levy of a lower rate of tax provided for an industrial company under the provisions of section 2(9)(c) of the finance act, 1976 ; while considering these separate claims, the full bench took note of the distinctive statutory provisions applicable in respect of the three claims. ..... find out whether the company was mainly engaged in the activity of manufacturing or processing of goods and only after ascertaining those facts he must come to the conclusion whether the definition of 'industrial company' as given in the finance act was satisfied or not.since no such enquiry was made in this case in his considered view, the ito erred in allowing the investment allowance and the commissioner was justified in setting aside those assessments. ..... of the case law dealing with their claims arising under the separate statutory provisions proceeded to record its finding on each of the three claims as follows : as far as claim for a lower rate of tax under the finance act, 1976 was concerned, the full bench held that the assessee-company having the activity of carrying out of civil construction works like tunnel, power houses, etc. ..... as far as the claim for grant of investment allowance is concerned, the full bench noted the amendment in section 32a with effect from the assessment year 1978-79 and then held as follows : for this year (assessment year 1978-79) it was provided that an assessee would be entitled to investment allowance if machinery was used in an industrial .....