Judgment Search Results Home > Cases Phrase: finance act 2005 section 92 amendment of section 13 Court: income tax appellate tribunal itat delhi Page 1 of about 530 results (0.260 seconds)

Jindal Strips Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)47ITD349(Delhi)

..... will have to be excluded from the amount of income-tax payable by the company in respect of its total income). the annual finance act concerned here is the finance act, 1984. this finance act did not levy any tax on the distribution of dividends. therefore, the question of any income-tax payable on the distribution of dividends ..... by it. the explanation says that the expression "the relevant amount of distributions of dividends" means the meaning assigned to it in the finance act of the relevant year. now in the finance act of 1984, the expression 'relevant amount of distributions of dividends' has not come up for any particular consideration. that apart what is ..... 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 by it. explanation: in this sub-clause, the expression 'the relevant amount of distributions of dividends' has .....

The Dy. Commissioner of Vs. Shri Bhim Singh Lather

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)282ITR151(Delhi)

..... as there was no specific provision to provide for the rectification of the assessment downwards if the compensation is reduced except by the provisions of section 154. 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 ..... of compensation by different courts often results in mistakes of computation of tax. 24.6 with a. view to removing these difficulties, the finance act., 1987 has inserted a new sub-section (5) in section 45 to provide for taxation of additional compensation in the year of receipt instead of in the year of transfer of the capital asset. ..... signed by us on 30.11.2004. the hon'ble third member 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 these two appeals in the following manner: 3. the appeal filed by the .....

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

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)36ITD497(Delhi)

..... (sb) and shree arbuda mills ltd v. ito [1983] 3 sot 311 (ahd.). it was next contended by shri srivastava that the explanation to section 263(1) substituted by the finance act, 1988 with effect from 1-6-1988 would not make any difference for the reason that the explanation was substituted with effect from 1-6-1988 and, ..... 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 commissioner, therefore, in this case had the jurisdiction to revise the assessment on the issues which were not considered and decided ..... include - (a) an order of assessment made on the basis of directions issued by the inspecting assistant commissioner under section 144a or section 144b; and...10. 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 .....

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

Court : Income Tax Appellate Tribunal ITAT Delhi

..... or lease of tangible or intangible property etc. 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 ..... 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. (2b) of sec. 92ca is a provision having no shred of doubt on its construction. its ambit is not eclipsed by any uncertainty. there is no question of keeping ..... writ petitions were filed before the hon'ble supreme court on the constitutional validity of insertion of the third and fourth provisos to sec. 80hhc(3) of the act by amendment of the tax laws (amendment) act, 2005 with retrospective effect. the hon'ble supreme court transferred these matters pending before various high courts to the hon'ble gujarat high .....

Vinod Khatri Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

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

..... thus the basis for imposing penalty for concealment of income is to be taken out separately and independently for the assessment order.29. it may be pointed out that by finance act, 1999 section 253(6) was amended by adding clause (d). the board vide circular no. 779 dt. 14th sept., 1999 reported in [(1999) 240 itr 3 (st)] ..... construed in a similar manner as laid down by the rajasthan high court in the aforesaid judgment. now, coming to clause (d) which has been added to section 253(6) by finance act, 1999 w.e.f. 1st june, 1999, this has been inserted by the legislature since, appeals are also filed on issues, such as tds defaults, ..... relation with the assessed income. 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., fee of rs. 500 would be paid by an aggrieved assessee while .....

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

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)14ITD366(Delhi)

..... to various claims. 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. ..... one relating to the levy of a lower rate of tax provided for an industrial company as per the finance act, 1976 for relief under sections 80j and 80hh and finally for the grant of investment allowance under section 32a. while considering these three separate claims, the full bench relied upon the relevant statutory provisions, which are ..... is not an industrial undertaking but that decision referred to considered the definition of industrial company defined in section 2(7){w) of the finance act, 1966 as distinguished from the industrial undertaking referred to and defined in section 32a. both of them are totally different and distinguish and one is not the other because by .....

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

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)275ITR81(Delhi)

..... , unless it has been paid within the specified due date.11. the finance act, 2003 has deleted the second proviso and amended the first proviso by the finance act, 2003 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 ..... intended" in fact the amendment would not serve its object in such a situation, unless it is construed as retrospective." initially the first proviso was inserted in section 43b by the finance act, 1987 w.e.f. 1st april, 1988. however, the assessee's contention was that since the proviso was inserted to remove the hardship, the same had .....

Suhag Traders (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)114TTJ(Delhi)116

..... face of this material, which are normal aids to construction, it cannot be said that because the second proviso has been omitted by the finance act, 2003 section 43b is also now covered by the first proviso. in interpreting statutory provisions, the court also considers the mischief rule, namely what was the ..... sakhar karkhana ltd. (2007) 212 ctr (bom) 384, the hon'ble bombay high court has held that the deletion of second proviso to section 43b by finance act, 2003 w.e.f. 1st april, 2004 as prospective in nature and not retrospective in nature. the observation of the hon'ble court are ..... 1. this appeal of the assessee is directed against the order dt. 21st july, 2005 passed by the cit(a), new delhi for asst. yr. 2001-02. the ground of appeal reads as ..... (b) of the it act, 1961. he has pointed out that an slp filed against the said decision of guwahati high court dt. 26th june, 2006 in ita nos. 76, 56, 91, 80 and 84 of 2003 and 2 of 2005 dt. 26th feb., 2006 (supra) has been dismissed by the .....

income-tax Officer Vs. Lt. Col. G.R. Chopra

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)11ITD662(Delhi)

..... appeal before the aac, who has accepted the claim of the assessee for standard deduction under section 16(i) against the pension amount received by him (the assessee) by observing as under : section 16 of the income-tax act, 1961, as it stands after the amendment by the finance act, 1974, with effect from 1974-75, deals solely and exclusively with deductions admissible against income ..... ) of clause (iv), as mentioned hereinbefore, were substituted respectively by 'rs. 75' and 'rs. 50'.16. by the finance act, 1974, with effect from 1-4-1975, clauses (iii), (iv) and (v), as they stood prior to that, were deleted. clause (i) of section 16 was substituted by the following : (i) in respect of expenditure incidental to the employment of the assessee, a .....

inspecting Assistant Vs. Paliwal Glass Works

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1987)20ITD50(Delhi)

..... for any action to rectify a mistake in an order passed by the aac before the appointed day would arise after the said date. those words in section 39(2) of the finance act, 1977 would cover cases where the rectification application had been filed after the appointed day or the aac had issued the show-cause notice on his own ..... apply and the same aac or any other aac presently having jurisdiction in respect of the concerned case of the assessee may amend the previous order. likewise section 39(2) of ths said finance act would cover the cases where the tribunal's order setting aside the aac's order wholly or partly was passed after the appointed day, i.e., july ..... was in the form of questions and answers where the board had sought to clarify the legal position on this subject. a reference was made to sub-section (2) of section 39 of the finance (no. 2) act, 1977 by which the posts of the commissioner (appeals) were created. it was clarified that in respect of an order passed by the aac before .....