Skip to content


Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Court: income tax appellate tribunal itat chandigarh Page 1 of about 506 results (0.109 seconds)

Nov 03 2005 (TRI)

Dewan Chand Amrit Lal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)98ITD200(Chd.)

..... his income or furnished inaccurate particulars of such income. 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. 1st april, 2006: (d) has concealed the particulars of the fringe benefits or furnished inaccurate particulars of such fringe benefits, (n) in the ..... . 32.1 with a view to countering this device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits, the finance act, 1984, has inserted a new section 269ss in the it act debarring persons from taking or accepting after 30th june, 1984, from any other person any loan or deposit otherwise than by an ..... to trace the legislative intent for incorporation of such provisions of the act.sec. 269ss was newly inserted by finance act, 1984 (21 of 1984) w.e.f.1st april, 1984. the provisions are effective from 1st july, 1984. the scope and effect of section 269ss and section 276dd have been explained in the departmental circular no. 387, dt .....

Tag this Judgment!

Mar 16 2007 (TRI)

Shri Pardeep Kumar Dhir Vs. A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... was different insofar as it provided for giving credit to the assessee in repect of tds in the assessment for me immediately following assessment year. by the finance act, 1987, the language of section 199 was modified to the extent that the credit for the tax deducted at source was provided to be given in the assessment year in which tds is assessable ..... .(n.k. saini) (m.a. bakshi)account member vice president 1. this appeal by the assessee i directed against the order of ld.cit(a)1, ludhiana dated 2 8 2006. 1 that the ld cit(a)-1 has not considered the arguments advanced with reference to the deduction of tds even me written arguments have not been considered and the ..... on or after the 1^st day of april, 2006 and paid to the central government the amount of tax deducted and specified in the statement regerred to in section 203aa shall be treated as tax paid on behalf of the persons referred to in sub-section (1) or, as the case may be, sub-section (2) and credit shall be given to him .....

Tag this Judgment!

Jul 20 2007 (TRI)

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)107ITD343(Chd.)

..... behind these provisions is to provide for a tax disincentive by denying deduction in respect of a "statutory liability" which is not paid in time. the finance act, 1987, inserted a provision of section 43b to provide that any sum payable by way of tax or duty, etc., liability for which was incurred in the previous year will be allowed ..... constitution of a special bench to decide the issue.9. on the recommendation of the regular bench of the tribunal at chandigarh dt. 26th dec, 2006, the hon'ble president passed an order under section 253(4) constituting three member special bench to hear and decide the following issue: whether deduction for tax, duty, etc. is allowed on payment ..... & bros.. he has also relied on the decision of the special bench of tribunal, chennai bench in the case of kwality milk foods v.asstt. cit (2006) 102 ttj (chennai)(sb) 1 : (2006) 100 itd 199 (chennai)(sb) where in para 15 of its order, the special bench has held that if the language of the statute is plain, obvious .....

Tag this Judgment!

Oct 05 2004 (TRI)

Morepen Laboratories Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)95TTJ(Chd.)404

..... cannot grant such a depreciation allowance. the apex court declared the law by the aforesaid decision by its judgment dt. 15th march, 2000. section 32 was amended by the finance act, 2001. explanation 5 was added which provided that depreciation would be allowed whether or not the assessee claimed the deduction in respect of depreciation ..... for the assessee also contended before us that the assessee can claim depreciation on revising the same during such proceedings as per expln. 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 ..... in computing his total income. the section as it stood prior to explanation having been understood and declared by the apex court in cit v. mahendra .....

Tag this Judgment!

Oct 25 2001 (TRI)

Punjab State Electricity Board Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2004)88TTJ(Chd.)450

..... on bonds is being paid half yearly and the board was liable to deduct tax at source on the interest payable/paid under section 193 of the income tax act. further, through a provision introduced by finance act, 1989, income-tax deductible from interest was to be increased by surcharge levied at specified rate. thus, the assessee was liable ..... the meaning of words "the rates in force" stated in section 193 is to be found in the charging section 4 read with the finance act of the relevant previous year. in every finance act, "rates of income-tax" are provided as per part ii of the first schedule to the finance act under the title "rates for deduction of tax at source ..... securities. the assessee was liable to deduct tax at source as per rates prescribed by the finance acts, from year to year. the surcharge was also to be deducted at the rates prescribed. accordingly, it was held that provisions of section 193/201(1a) were mandatory in nature and were applicable to the assessee. accordingly it was .....

Tag this Judgment!

Mar 21 2007 (TRI)

Glaxo Smith Kline Consumer Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)112TTJ(Chd.)94

..... related to capital borrowed for a new plant, the same was to be treated as capital in nature. thirdly, the ao noted that the amendment under section 36(1)(iii) made by the finance act, 2003 w.e.f. 1st april, 2004 provided that interest from the date on which the capital was borrowed for acquisition of the asset till the ..... hon'ble punjab & haryana high court in the case of cit v. vardhman polytex ltd. in ita no. 1 of 2003 and vide its decision dt. 17th aug., 2006 [reported at (2006) 205 ctr (p&h) 457-ed.], the issue has been directed to be referred for the consideration of the hon'ble chief justice for constituting a larger bench. ..... /renovations of the nature carried out by the assessee. the learned counsel specifically relied, upon the decision of the delhi high court in the case of escorts finance ltd. (2006) 205 ctr (del) 574 : (2006) 155 taxman 559 (del) wherein it has been held that the amount spent on wooden partition, painting of leased premises, and carrying out repairs to make .....

Tag this Judgment!

Aug 31 1995 (TRI)

Sarkaghat Wine Traders Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1996)57ITD385(Chd.)

..... 1-4-1989 and was subsequently omitted by the finance act, 1992 w.e.f. 1-4-1993.section 206c was also enacted by the finance act, 1988. at the time section 44ac was omitted from the income-tax act, section 206c was amended by the finance act, 1992 w.e.f. ..... 1 -4-1992. after sub-section (8), an explanation was inserted. the word "buyer" ..... 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. .....

Tag this Judgment!

Aug 31 1995 (TRI)

Sarkaghat Wine Traders Vs. Income Tax Officer. (Also

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1996)56TTJ(Chd.)252

..... the sale under sub-s. (1)." sec. 44ac was enacted by the finance act, 1988, w.e.f. 1st april, 1989, and was subsequently omitted by the finance act, 1992, w.e.f. 1st april, 1993. sec. 206c was also enacted by the finance act, 1988. at the time s. 44ac was omitted from the it act, s. 206c was amended by the finance act, 1992, w.e.f. 1st april ..... case of a liquor dealer, the provisions contained in s. 44ac intended to adopt the purchase price as the measure of tax.secs. 44ac and 206c are anti-evasion measures. sec. 44ac did not bar a regular assessment of the business income of the assessee in accordance with ss. 28 to 43c. this decision was followed by the punjab & haryana ..... the s. 44ac was omitted, the provisions were incorporated to the same effect in s.206c of the act. we have already examined the two provisions contained in the two sections on this issue. in our view, goods received by the retail vends were in the nature of second sale from l-13 licensee.there is no evidence on record .....

Tag this Judgment!

Dec 22 2005 (TRI)

income-tax Officer Vs. Keshwa Enterprises (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)100ITD365(Chd.)

..... year cannot set off against any other income. assessing officer also noted that the law, which was, substituted with effect from 1997-98 was again substituted by finance act 2001 with effect from assessment year 2002-03 and reinstated the original provisions which were available on the statutory book up to 1996-97. assessing officer taking cognizance ..... any, be set off against the income under other heads, namely "income from house property' and 'income from other sources'. (iii) the provisions of section 32(2) as amended by finance (no. 2) act, 1996, have been duly explained by circular no. 762, dated 18-2-1998. the amendment does not deal with the problem of setting off of ..... 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. during the course of discussion on the general budget, a number of .....

Tag this Judgment!

Sep 02 1993 (TRI)

Avon Cycles (P) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1994)48TTJ(Chd.)249

..... case of jamshedpur motors accessories stores vs. union of india (1991) 189 itr 70 (pat), wherein it was held that the benefit of the proviso inserted by the finance act would be available to the back asst. yrs. 1984-85 onwards and, therefore, it should be considered as explanatory of the existing legal position and not prospective in ..... 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. it will be obviously not possible to say that the ..... 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. we thus see no justification to interfere and the finding under challenge is, therefore, confirmed.11. in ground no. .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organize Client Files //