Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Court: income tax appellate tribunal itat jodhpur Page 1 of about 252 results (0.107 seconds)

Hari Singh and Associates Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2008)117TTJ(Jodh.)101

..... given by way of these decisions is sought to be withdrawn by the legislature through the insertion of proviso to section 148 by the finance act, 2006 w.r.e.f. 1st oct., 1991 by laying down that if a notice under section 143(2) is served after the expiry of 12 months but before the expiry of time-limit for making ..... to be a valid notice. the learned authorised representative has contended before us that the alteration made by the finance act, 2006 has not changed the earlier legal position qua the assessment to be invalid for the reason that no notice under section 143(2) was issued in the assessee's case. we are not convinced with the contention put forth ..... for the first time and is hence outside the ambit of provisions of section 143(2). be that as it may, we observe that it is a case in which return was filed pursuant to notice under section 148. as per proviso to section 148 inserted by the finance act, 2006 with retrospective effect from 1st oct., 1991, there is no requirement that .....

income Tax Officer Vs. Bothra International and ors.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... well as cbdt have taken into account the insertion of clause (iiib) in section 28 by the finance act, 1990. further, it is also relevant to note that by the same finance act clause (iiib) was inserted into section 28 and changes were also made in section 80hhc(3). therefore, section 80hhc as it stood at the relevant time was required to be read with ..... v. india tobacco association (2005) 5 rc 379 and cce v. i lira cement (2006) 6 rc 219 was made.23.2 in the assessee's case before us the ao has accepted the fact that exemption provisions contained under section 10ba of the act are applicable to the assessee. the same were, therefore, to be interpreted liberally for ..... viswanathan and co. (2003) 181 ctr (mad) 335 : (2003) 261 itr 737 (mad):p.r. prabhakar v. cit (j) peerless general finance & investment co. ltd. v. ao ; (k) lavrids knudsen maskinfabrik (india) ltd. v. addl. cit (2006) 102 ttj (pn) 882;cit v. malwa cotton spinning mills ltd. (2008) 166 taxman 457 (p&h); (o) kashmir arts v. cit ( .....

Aravali Minerals and Chemicals Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2007)292ITR361(Jodh.)

..... foods ltd. v. asstt. cit (2006) 102 ttj (chennai)(sb) 1 : (2006) 100 itd 199 (chennai)(sb) in which it has been held that the amendment brought out by the finance act, 2003, enabling the assessee to deduction even if the payment is made before the due date of furnishing return under section 139(1) is retrospective and hence ..... under: minerals--clarification regarding export of cut and polished dimensional blocks granite or other rocks. section 80hhg of the it act allows a deduction from the gross total income of the entire profits derived from export of goods other than minerals. finance (no. 2) act, 1991, extended the benefit to export of processed minerals and ores mentioned in the ..... bracketed portion of clause (ii) has been inserted by the finance (no.2) act, 1991, w.e.f. 1st april, 1991. thus it is clear that upto asst.yr. 1990-31, all minerals and ores, without exception, whether processed or not, were excluded from the ambit of section 80hhc. it is in this pre-amendment era that the .....

Assisstant Commissioner of Vs. Shankerlal Agarwal and Co.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2001)77ITD488(Jodh.)

..... alone is relevant in this case and the same has already been discussed above. it is worthwhile to note here that requirement of "furnishing" the audit report under section 44ab was incorporated in section 271b by amendment vide finance act, 1995 w.e.f. 1-7-1995 and prior thereto such a general requirement of furnishing the report of audit under ..... ....." in the above provision the words "the report of any audit" were inserted in this provision by amendment vide finance act, 1988 w.e.f.1-4-1989, and the words "referred to in section 44ab" were inserted by amendment vide finance act, 1995 w.e.f. 1-7-1995. it may be re-called that the audit reports may be under various ..... any time prior to 1-7-1995. the assessment year under appeal being 1993-94 that is prior to amendment of section 44ab vide the finance act, 1995 which became operative with effect from 1-7-1995, the position of law under section 44ab remains that as mentioned above as being prior to 1-7-1995. accordingly, evident as it is, the .....

Assistant Commissioner of Income Vs. Shankerlal Agarwal and Co.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... this section and in cl. (i) of sub-s. (1) of s. 142 shall in the case of an assessee engaged in any business or profession also require him to furnish the report of any audit referred to in s. 44ab .........." 7. in the above provision the words "the report of any audit" were inserted in this provision by amendment vide finance act ..... same has already been discussed above. it is worthwhile to note here that requirement of "furnishing" the audit report under s. 44ab was incorporated in s. 271b by amendment vide finance act, 1995, w.e.f. 1st july, 1995, and prior thereto such a general requirement of furnishing the report of audit under s. 44ab was no more there under s. ..... court in the case of abhey kumar (supra). in view of the discussions made above, we are of the view that prior to amendment of ss. 271b and 44ab vide finance act, 1995, w.e.f. 1st july, 1995, penalty for non-furnishing of audit report required under s. 44ab within specified date was not leviable. as such the assessment year .....

Uma Polymers (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)284ITR1(Jodh.)

..... period. the learned jm found that interest on loan from public financial institutions (like rfc) not actually paid was to be disallowed under section 43b(d) of it act. however aforesaid clause (d) was inserted in section 43b through the finance act, 1990 w.e.f. 1st april, 1991. the aforesaid provision was not applicable in the asst. yr. 1989-90 involved before ..... dispute was raised before me nor there is any difference between the learned members hearing the appeal that clause (d) to section 43b was introduced through finance act, 1990 applicable w.e.f. 1st april, 1991. the aforesaid provision was not applicable in the asst. yr. 1989-90 which is now under appeal. it ..... be issued in the name of non-existing persons.their lordships of delhi high court in the case of cit v. dolphin canpack ltd (ita no. 99 of 2006) after considering aforesaid two decisions observed as under: there is no dispute with the proposition stated in the above passage. an ito is indeed entitled to examine the .....

Jagan Nath Singh Lodha Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)85TTJ(Jodh.)173

..... appeals.7. we have heard the rival submissions and have perused the evidence on record.8. the learned authorised representative has submitted that section 54f was introduced by the finance act, 1982, which permitted reinvestment of the proceeds received on transfer of a capital asset in the purchase within a year or construction within ..... tax. this provision was introduced with the sole intention to purchase or construct a house. proviso 4 to this section was introduced by the finance act, 1987, which reads as under : "under the existing provisions of sections 54, 54b, 54d and 54f, long-term capital gains arising from the transfer of any immovable property used for ..... was a technical default that the assessee did not deposit the amount meant for reinvestment in the capital gain account scheme before filing return under section 139 of the act. keeping in view the totality of the facts and circumstances of the case and the decisions relied by the learned authorised representative, we are .....

Banswara Syntex Ltd. Vs. the A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2007)108ITD48(Jodh.)

..... we come to the facts of the give case we would like to trace the history and the scope of the relevant provisions of section 115jb of act, inter alia. section 115jb was brought on the statute by finance act 200, w.e.f. 1.4.2001.this provides for a special provision for payment of tax by certain companies. prior to ..... previous year relevant to the a.y.commencing on or after 1st day of april 1997 but before 1st day of april 2001. one chapter xiib, containing section 115jb, was inserted by the finance act, 1987 (11 of 1987), w.e.f. 1988, which provided "special provisions relating to certain companies". as a result of various tax concessions and ..... in the case of smruthi organics ltd. v. dy.cit (2006) 101 itd 205. in the present case assessee is having the profits eligible for deduction under section 80hhc but due to the carry forward of losses as per the income tax act the deduction under section 80hhc is nil. section 115jb is a separate, independent and complete code for computation .....

income Tax Officer Vs. Choudhury Farrque Ali and Marble

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)82TTJ(Jodh.)1

..... been committed by the assessee, the explanation added to the section by the finance act, 1964, requires from the assessee, by casting a burden on him, to prove that there has been no concealment. the onus to disprove concealment or prove ..... haryana high court in the case of vishwakarma industries v. cit (1982) 135 itr 652 (p&h)(fb) that in view of the amendment of section 271(1)(c) by the finance act, 1964, and the insertion of the explanation, the import of the explanation is to shift the onus to prove from the department where the returned income ..... ble delhi high court in the case of cit v. gurbachan lal (2001) 250 itr 157 (del) in which the effect of explanation added to section 271(1)(c) by the finance act, 1964, has been explained by their lordships elaborately.the headnote of this decision gives an impression that in any penalty proceedings where concealment of income has .....

Chitra Devi, Prem Prakash Soni and Vs. Assistant Commissioner of Incom ...

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... , now we may pause here for a moment to clarify the legal position on this point as it emanates from the statutory provisions after the amendment effected vide finance act, 2002 in section 158b w.r.e.f. 1st july, 1995. on analyzing the statutory provisions, the relevant legal position, in respect of sustenance/deletion of addition, as undisclosed ..... evidence" did not exist in the aforesaid statutory provision, and so any information could also form the basis for addition as undisclosed income. but now, as section 158bb(1) stands as amended vide finance act, 2002, w.r.e.f. 1st july, 1995, an information, available with the ao, to form basis for addition in a block assessment, ..... the said addition, in the hands of present assessee, cd, is not tenable on the legal score as well. we may note that the provision of section 158bb(1) stands amended vide finance act, 2002 w.r.e.f 1st july, 1995, and the relevant amended provision stands as under : "158bb-(1) the undisclosed income of the block period .....