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Income Tax Officer Vs. Vikram Sujitkumar Bhatia

Court : Supreme Court of India

..... the first proviso to section 153c of the act, 1961 came to be inserted vide finance act, 2005 with retrospective effect from 01.06.2003, which provides that the reference to the date of initiation of the search under section 132 or making of requisition under section 132-a in the second proviso to sub-section (1) of section 153-a shall be construed as a reference to the date of receiving the books of account or documents or assets seized or requisitioned by the assessing officer having jurisdiction over such other person. ..... proviso to section 153c as inserted vide finance act, 2005 reads as under:- provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132- a in the second proviso to sub-section (1) of section 153-a shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the assessing officer having jurisdiction over such other person. ..... civil appeal no.911 of2022page 46 of 6710.3 thus, as per the proviso to section 153c as inserted vide finance act, 2005, and the effect of the said proviso is that it creates a deeming fiction wherein any reference made to the date of initiation of search is deemed to be a reference made to the date when the assessing officer of the non-searched person receives the books of account or documents or assets seized etc. .....

M/S. N.P. Thomas Vs. Represented Kerala and Another

Court : Kerala

..... noticing the difficulty for those dealers who would have complied with the proposals contained in the finance bill, based on notification issued under the kerala provisional collection of revenues act, 1985, the government introduced section 17b to the act through finance act, 2005, which is as follows:- "17b. ..... serial numbers, such dealer shall pay tax on the re-sale of such goods at the rates mentioned in column (6) against such goods and the assessing authority shall complete the assessment under section 17 of the act. ..... special provision for completion of assessment:- notwithstanding anything contained in this act, a dealer who had purchased any goods falling under serial numbers 12 to 32 of item (iv) of sub-clause 18 of clause 3 of the kerala finance bill, 2004 during the period from the first day of april, 2004 to the 27th day of july, 2004, from any registered dealer after paying tax at the rates shown in column (4) against the said ..... we do not find any substance in this argument because as already stated, levy under section 17b for a specific period is to get over difficulties for assessment of dealers, who have followed finance bill, 2004 for purchase and sale of goods. .....

Tata Chemicals Ltd. Vs. Deputy Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the following proviso shall be inserted to sub-section (4) of section 244a by the finance act, 2005, with effect from 1-4-2006: provided that in respect of assessment of fringe benefits, the provisions of this sub-section shall have effect as if for the figures" ..... collected from assessee, the revenue must compensate assessee and the compensation in this case is by way of interest under section 244a of the act for the period when the amount was with helearned accordingly, we direct the assessing officer to allow the interest under section 244a(1)(b) of the income tax act on the amount due to the assessee pursuant to the order passed giving effect to commissioner (appeals)'s order appeal ..... commissioner (appeals) stated that no appeal lies on non-granting of interest under section 244a of the income tax act and the assessee should have moved the assessing officer under the provisions of section 154 of the income tax act and thereafter appealed against the said order in case of his claim being rejected ..... in view of the provisions of dtaa between the two countries, under the said sub-section (2) to section 195 of the income tax act, the assessing officer is empow-ered to determine such sum which are deductible out of remittance to be sent to the recipient and only after deduction and payment of such sums, the balance ..... the separate orders of commissioner (appeals)-xxxi, mumbai, both dated 28-3-2005 relating to assessment year 1997-98 against order under section 250 of the income tax act. .....

Shree Choudhary Transport Co. Vs. Income Tax Officer

Court : Supreme Court of India

..... not limited only to the amount outstanding and this provision equally applies in relation to the expenses that had already been incurred and paid by the assessee; that disallowance under section 40(a)(ia) of the act of 961 as introduced by the finance (no.2) act, 2004 with effect from 01.04.2005 is applicable to the case at hand relating to the assessment year 2005-2006; and that the benefit of amendment made in the year 2014 to the provision in question is not available to the appellant in the present case ..... learned counsel for the revenue has further contended that the amendment to section 40(a) of the act with insertion of sub-clause (ia) by the finance (no.2) act, 2004 with effect from 01.04.2005 directly applies to the assessment year 2005-2006; and for the appellant having failed to deduct tax at source from the payment made to the sub-contractors for the work of transportation, deduction of such payment has rightly been disallowed. 11.5. ..... the learned counsel has also argued that the proviso to section 40(a)(ia) of the act, as inserted by the finance act, 2014, does not apply to the case at hand pertaining to the assessment year 2005-2006 and hence, the 21 argument for curative benefit with reference to the said proviso does not hold the ground. ..... . section 11 of the finance (no.2) act, 2004 by which sub-clause (ia) was added to 45 section 40(a) of the income-tax act does not provide that the same was to become effective from the assessment year 2005-06 .....

The Commissioner of Income Tax-9 Vs. Ajanta Pharma Ltd.

Court : Mumbai

Reported in : 2009(111)BomLR1905; (2009)223CTR(Bom)441; [2009]318ITR252(Bom); [2009]180TAXMAN494(Bom)

..... section 80 hhc sub-section 1b was introduced by the finance act with effect from 1.4.2001 so as to phase out the deduction completely by assessment year 2005- 06. ..... section 115jb was inserted by the finance act,2000 with effect from 1.4.2001.115jb(1) notwithstanding anything contained in any other provision of this act, where in the case of an assessee, being a company, the income-tax payable on the total income as computed under this act in respect of any previous year relevant to the assessment year commencing on or after the 1st day of april, 2007, is less than ten per cent of its book profit, such book profit shall be deemed to be the ..... but by the finance act, 1997 it was introduced with effect from 1.4.1998 and which reads as under:the amount of profits eligible for deduction under section 80 hhc, computed under clause (a), (b) or (c) of sub-section (3) or sub-section (3a), as the case may be, of that section, and subject to the condition specified in sub sections (4) and (4a) of that section. 10. ..... 1st april, 1997 and the finance act, 1997 exempts the export profits which are eligible under section 80hhc or under section 80 hhg from the purview of minimum alternate tax.19. ..... the section as amended has brought in the words 'deduction to the extent of profits' referred to in sub-section (1b) by finance act, 2000 with effect from 1.4.2001. ..... (4c) ...sub-section (1b) was introduced by the finance act, 2000 with effect from 3.4.2001. .....

The Commissioner of Income Tax Vs. Godaveri (Mannar) Sahakari Sakhar K ...

Court : Mumbai

Reported in : (2007)109BOMLR2273; (2007)212CTR(Bom)384; [2008]298ITR149(Bom)

..... of any sum referred to in clause (b) be allowed unless such sum has actually been paid during the previous year on or before the date as defined in the explanation below clause (va) of sub-section (1) of section 36.the second proviso was substituted by finance act, 1989 with effect from 1st april, 1989 and read as under:provided further that no deduction shall in respect of any sum referred to in clause (b) be allowed unless such sum has actually been ..... the provident fund payments applying the provisions of section 43b of the income-tax act, 1961?in that case the relevant assessment year was 1994-95 ..... long time, some times extending over several years whereas the assessee for the purpose of income tax assessment claimed the liability as deduction on the ground that they made accounts on mercantile or account basis. ..... take effect from 1st april, 2004 and will, accordingly, apply in relation to the assessment year 2004-2005 and subsequent years.12 ..... been remedied, and the remedial measure made applicable from the assessment year 2004-2005 ..... instance the amendment is made applicable from the assessment year 2004-2005 ..... clauses and the memorandum explaining the provisions seeks to give effect to these amendments from 1st april, 2004 and to apply in relation to the assessment year 2004-2005 ..... year, the allowance will be made in the year in which the liability was incurred.these amendments will take effect from 1st april, 2004 and will, accordingly apply in relation to the assessment year 2004-05 and subsequent years .....

Commissioner of Income Tax Vs. Kuruvilla Abraham

Court : Chennai

..... on the other hand, the present case involving the assessment year 2005-2006 deals with section 2(14) of the income tax act, 1961, which was amended under the finance act 2007, as discussed supra. ..... the tribunal also found that the paintings can be considered as capital asset only with effect from 1.4.2008 by virtue of the finance act 2007 and the relevant assessment year being 2005-2006, the paintings were not excluded under the definition of section 2(14) as the personal effects . ..... per contra, the learned counsel appearing for the assessee submitted that the paintings are only the personal effects and when the relevant assessment year is 2005-2006, the amendment brought in by the finance act 2007 with effect from 1.4.2008 excluding the paintings from the personal effects cannot be applied retrospectively. ..... (ii) the paintings were excluded from the purview of personal effects and consequently included as one of the capital asset under section 2(14) only in pursuant to the amendment made under the finance act 2007 that too with effect from 1.4.2008. ..... an amendment was brought in to the above section 2(14) under the finance act 2007 with effect from 1.4.2008. ..... respondent prayer: appeal filed against the order of the income tax appellate tribunal "b" bench, dated 17.7.2009, in i.t.a no.1376/mds/2008, under section 260a of the income tax act, 1961 for the assessment years 2005-06. .....

Commissioner of Income Tax -xiii Vs. Rajinder Kumar

Court : Delhi

..... amendments were made to the proviso to section 40(a)(ia) of the act by finance act, 2010 and these are not retrospective but applicable to and from assessment year 2010-11 onwards. ..... . section 40(a)(ia) and the proviso as amended by finance act, 2008 with retrospective effect from 1st april, 2005 notices and acknowledges the said position and, therefore, clause (a) states that where tax was deductible and was so deducted during the last month of the previous year but stands paid before the due date specified under sub-section (1) to section 139, deduction shall be allowed in the said ..... , by finance act, 2008 an amendment was made to section 40(a)(ia) with retrospective effect from 1st april, 2005. ..... assessee was asked to explain why disallowance should not be made under section 40(a)(ia) as amended by finance act, 2008 with retrospective effect from 1st april, 2005. ..... . the proviso as amended by finance act, 2008 with retrospective effect from 1st april, 2005 was not free from interpretative difficulties and ..... section 40(a)(ia) of the act was introduced with effect from 1 st april, 2005 by finance (no.2), 2004 ..... proposed amendment will take effect from the 1st day of april, 2005 and will, accordingly, apply in relation to the assessment year 2005-06 and subsequent years. ..... learned tribunal on fact found that the assessee had deducted tax at source from the paid charges between the period april 1, 2005 and april 28, 2006 and the same were paid by the assessee in july and august 2006, i.e. .....

Commissioner of Income Tax Kolkata Xii Vs. M/S Calcutta Export Company

Court : Supreme Court of India

..... he further contended that the amendment made under section 40 (a) (ia) by the finance act, 2010, clearly states that the amendment has the retrospective effect from the assessment year 2010-11 and it cannot be held to be retrospective from the assessment year 2005-2006.8) learned senior counsel further contended that the high court erred in relying on the decision given by the jurisdictional high court in itat no. ..... detrimental to the small traders who may not be in a position to bear the burden of such disallowance in the present assessment year.22) in order to remedy this position and to remove hardships which were being caused to the assessees belonging to such second category, amendments have been made in the provisions of section 40(a) (ia) by the finance act, 2010.23) section 40(a)(ia), as amended by finance act, 2010, with effect from 01.04.2010 and now reads as under: 4(a)(ia) any interest, commission or brokerage, rent, royalty, ..... a proviso which is inserted to remedy unintended consequences and to make the provision workable, a proviso which supplies an obvious omission in the section, is required to be read into the section to give the section a reasonable interpretation and requires to be treated as retrospective in operation so that a reasonable interpretation can be given to the section as a whole.28) the purpose of the amendment made by the finance act, 2010 is to solve the anomalies that the insertion of section 40(a)(ia) was causing to the bona fide tax payer. .....

Ms. Shanti Logistics (P) Limited Vs. the Assistant Commissioner of Inc ...

Court : Chennai

..... for the assessment year 2007-08, the commissioner of income tax (appeals) referred to the contention taken by the assessee as regards the amendment brought forth with effect from 1.4.2005 under the finance act, 2008, mitigating the rigour of section 40(a)(ia) and the circular dated 27.3.2009 that the amendment would apply on and from the assessment year 2005-06. ..... referring to the circular of the board dated 27.3.2009, particularly with reference to the amendment brought under the finance act, 2008 with retrospective effect from 1.4.2005, the commissioner of income tax (appeals) held that since tax deducted at source had been paid well before the due date for filing the return of income, ..... during the relevant year has to be seen.finance act, 2008 amending section 40(a)(ia) with effect from 1.4.2005section 40(a)(ia)amounts not ..... circumstances of the case, the tribunal is right in law in not considering the issue raised by the revenue in its grounds of appeal that the provisions of finance act, 2010 in section 40(a)(ia) is retrospective or not?2. ..... get additional time of six months (april to september) for depositing the tax deducted at source on an expenditure incurred or payment made in the month of march so as to escape disallowance under sub-clause (ia) of clause (a) of section 40.12.3 applicability: this amendment has been made applicable with retrospective effect from 1st april, 2005 and shall accordingly apply for assessment year 2005-06 and subsequent assessment years. "13. .....