Court : Rajasthan
Reported in : [2002]255ITR599(Raj)
..... this court admitted the appeal on the following question of law :'whether after the finance act, 1985, amending the provisions of section 36(l)(vii) and section 36(2) with effect from april 1,1985, inserting a proviso to section 36(l)(vii) and clause (v) to section 36(2), claims under sections 36(l)(vii) and 36(l)(viia) are separate and distinct ?'3. briefly ..... balance in the provision for bad and doubtful debts account made under that clause.' 6. the provision as existed during the periods 1985 to 1988 has been inserted by the finance act, 1985, with effect from april 1, 1985.'(viia) in respect of any provision for bad and doubtful debts made by- (a) a scheduled bank [not being a ..... such debt or part of debt in that previous year to the provision for bad and doubtful debts account made under that clause.' 7. section 36(l)(vii) was introduced by the income-tax (amendment) act, 1986, with a view to provide for grant of deduction in respect of provision for bad debt made by all the banks up to .....
Tag this Judgment!Court : Rajasthan
Reported in : (2009)226CTR(Raj)417; [2010]186TAXMAN365(Raj)
..... conditions, in cases where it is satisfied that the assessee has made a full disclosure of his income & its sources. at the same time, section 245-ha has been inserted by finance act, 2007 w.e.f. 01/06/07 being relevant reads ad infra:245-ha. abatement of proceedings before settlement commission -(1) where(i) ..... penalty and so also confidentiality of their record which they have disclosed before settlement commission in their application under section 245-c of the act. on the contrary, after finance act, 2007, in cases where proceedings stood abated under section 245-ha(1) because of pending applications having not been decided by settlement commission on or before 31/03 ..... decisions of apex court in jyotendra singhji v. sl tripathi and ors. : 1993 (201)itr 611 & commnr. of income tax v. om prakash mittal : (2005(273) itr 326).13. however, counsel appearing for assessees in writ petition filed by revenue, have tried to support orders impugned and submit that once the assessees have deposited .....
Tag this Judgment!Court : Rajasthan
Reported in : (1986)57CTR(Raj)107; [1986]160ITR887(Raj)
..... the words 'but not including jewellery' were retrospectively added with effect from april 1, 1963, and the explanation was added with effect from april 1, 1972, by the same finance act under section 5(1)(viii) gives out the clear intention of parliament that the wider meaning of the word 'jewellery', as contained in the explanation, was not to be applied in an ..... stands excluded in the computation of the net wealth of an assessee.after the above decision of the supreme court, the finance (no. 2) act, 1971, changed the position of law. section 5 of the act was amended to some extent and in sub-section (1), clause (viii), after the words 'articles intended for the personal or household use of the assessee', the words 'but .....
Tag this Judgment!Court : Rajasthan
Reported in : 1975WLN(UC)505
..... of the commissioner of income tax that this question did not arise out of the order of the tribunal within the meaning of section 66 as it was neither raised before the tribunal and dealt with ..... the first time raised the contention that the fourth proviso to section 10(2)(vii) did not apply to the assessment as it was not in force on april 1, 1946, and the liability of the company had to be determined as on april 1, 1946, when the finance act, 1946 came into force a prelimilary objection was raised on behalf ..... rejected this application on 20/7/1968 feeling aggrieved by this order, the commissioner of income tax rajasthan, jaipur submitted a reference petition to this court under section 66(2) of the act this reference petition was allowed on 29th july, 1969 by the learned division bench of this court. the appellate tribunal was directed to state the case and .....
Tag this Judgment!Court : Rajasthan
Reported in : 1976WLN251
..... the assessment of any person or any documents pertaining to the period prior to april 1, 1964.with the omission of section 137 and amendment of section 138 of the income-tax act, 1961, by the finance act, the declaration of confidential nature of record, the embargo against a court requiring a public servant to produce such records or ..... income-tax office or for any records from the income-tax office or officer pertaining to the period from april 1, 1964, after section 137 of the act was omitted. after the finance act of 1964 was passed, the question of the commissioner of income-tax sitting in judgment over the summons issued by a court, calling for ..... the privilege acquired by or accruing to the department and the assesses under section 54 of the act of 1922 and section 137 of act of 1961, subsists even after the omission of section 137 by the finance act of 1964, inasmuch as section 6(c) of the general clauses act, under which protection is given to the rights, privileges, obligations or .....
Tag this Judgment!Court : Rajasthan
Reported in : (2008)216CTR(Raj)269; [2009]310ITR125(Raj)
..... objections.6. then, it has been held, that for the assessment years 2001-02 to 2002-03, the orders were passed under section 154, and the provisions of sections 115ja/115jb were inserted by the finance act, 2000, with effect from 1.4.2000, and by virtue of the operation of the said provision, where the income with ..... dismissed by the learned commissioner (appeals). then, all the matters were carried to the tribunal, and the learned tribunal held, that the provisions of section 143 and 154 have been amended by the finance act of 1999, whereby, the provisions were modified, and prima facie adjustments, additional tax, and issue of limitation etc. were done away with. then, ..... is required to be deducted, which aspect has not been considered by the assessing officer, otherwise, there would been no need to pass the order under section 154 of the income tax act.5. then, noticing this contention in para 12, it was observed, that the undisputed facts of these cases are, that all these assessees are .....
Tag this Judgment!Court : Rajasthan
Reported in : 1992(3)WLC329; 1992WLN(UC)421
..... -tax appellate tribunal has erred in considering that the deduction is allowable under section 37 or under section 28 of the income-tax act, 1961 and that it is not hit by the provisions of section 40a(7). the income-tax appellate tribunal has ignored the amendment made by section 6 of the finance act, 1975 with retrospective effect from 1st april, 1973. it was further submitted ..... to any employee shall not be allowed as a deduction in computing the income of the assessee of the previous year in which the sum is so paid.11. sub-section (7) of section 40a was inserted by the finance act, 75(25) of 1975 with retrospective effect fro 1st april, 1973. from the bare perusal of sub .....
Tag this Judgment!Court : Rajasthan
Reported in : (2008)215CTR(Raj)482; [2008]306ITR368(Raj)
..... be not entitled to exemption on the ground of the property being a residential house, under section 53.5. we stand better advised to reproduce the provisions of section 53, as they existed at the relevant time, as they have subsequently been omitted, by finance act of 1992, w.e.f. 1.4.93 which read as under:53 notwithstanding anything ..... contained in section 45, where in the case of the assessee being an individual [or a hindu undivided family], the capital gain arises from the transfer of [long term ..... of protection of the plot. thus considering from any standpoint, it cannot be said, that the asset fulfills the character of residential house, within the meaning of section 53 of the act.13. there is yet another aspect, which has not been gone into by the learned authorities below, but it cannot be lost sight off. that being, that .....
Tag this Judgment!Court : Rajasthan
Reported in : 1996WLC(Raj)UC415; 1996(2)WLN604
..... section 158bc of the income tax act shall be chargeable to tax at the rate of ..... foundations were laid in the writ petition regarding newly inserted section 113 as well as newly inserted chapter xiv-b of the income tax act consisting of section 158-b to section 158-bh by the finance act 1995 which has been made enforceable w.e.f. 1.7.1995. according to section 113 of income tax act the total undisclosed income of the block period determined under .....
Tag this Judgment!Court : Rajasthan
Reported in : (2009)224CTR(Raj)424
..... have not been revealed in the assessment order dt. 31st march, 1993 and in the order dt. 11th april, 2001, is without force.19. prior to the finance act, 1987, sections 234a, 234b and 234c of the act had used the word 'may'. however, in 1987, the word 'shall' was substituted for the word 'may'. since the word 'may' has been substituted by ..... and when it is signed or initialed by the ito, it is certainly an order in writing by the ito determining the tax payable within the meaning of section 143(3) of the act. the hon'ble supreme court further held that 'we are unable to see why this document, which is also in writing and which has received the ..... sept., 1989, his residential premises were searched by the officers of the it department and certain documents were recovered. on the basis of the documents, a notice under section 143(2) of the act was issued to the assessee. the assessee had appeared before the respondent no. 1 from time to time. however, vide order dt. 31st march, 1993, the .....
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