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Aditya Chemicals Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Reported in : [2009]177TAXMAN66(Delhi)

..... and disposed of by the tribunal on 30-8-2007. in view of the retrospective amendment to the provisions of section 148 with effect from 1-10-1991 by virtue of the finance act, 2006, the question with regard to the issuance of notice under section 143(2) was no longer relevant. in this background, the learned counsel for the assessee had no objection to ..... dated 6-2-2003 passed by the commissioner of income-tax (appeals) in which an additional ground was raised that the assessment was bad in law as the notice under section 143(2) had not been served within the statutory period.3. the tribunal had admitted the said ground and restored the issue to the file of the commissioner of income .....

D.R. Madhavakrishnaiah Vs. the Income-tax Officer, Bangalore

Court : Supreme Court of India

Reported in : AIR1954SC163; [1954]25ITR72(SC); [1954]1SCR537

..... state of mysore down to the end of the year of account 1948-49. the officer was exercising jurisdiction in the state by virtue of the proviso to section 13 of the indian finance act, 1950, which reads as follows :- repeals and savings. - (1) if immediately before the 1st day of april, 1950, there is in force in ..... efficient management, it was obviously necessary and desirable that the changeover from the mysore income-tax law to the indian income-tax act should be in the way provided by section 13 of the indian finance act, 1950. we find nothing in article 277 of the constitution to preclude parliament making a law providing for the levy and collection ..... of income-tax and super-tax under the mysore act through authorities appointed under the indian income-tax act. accordingly, we hold that the income .....

Commissioner of Income-tax, Punjab Vs. Tulsi Dass Jashan Lal KuthialA.

Court : Punjab and Haryana

Reported in : [1965]58ITR704(P& H)

..... high court.'two questions have been framed by the commissioner in each cas :'(1) whether in view of section 13 of the indian finance act, 1950, penalty under section 28 of the patiala income-tax act, 2001 bk., could be levied for the assessment year 2006 bk. (1949-50) after april 1, 195 ?(2) whether, on the facts and in the ..... the imposition of penalty, and hyderabad, like the states comprising the patiala and east punjab states union, had merged with the indian union. section 13(1) of the indian finance act of 1950 provide : 'if immediately before the 1st day of april, 1950, there is in force in any part b state... any law relating to ..... not alter the true character of penalty imposed under the income-tax acts of india and hyderabad'. it was therefore held that the proceedings for imposing penalty initiated under section 40 of the hyderabad income-tax act could be continued after the enactment of section 13(1) of the finance act, 1950, and the order levying penalty was therefore valid. this .....

Deputy Commissioner of Income Tax Vs. Indian Syntans Investments (P)

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)103ITD457(Chennai)

..... learned departmental representative that it was issued by the it department.29. in this regard, we have gone through the amended provisions of section 148 and the proviso brought out by the finance act, 2006 reads as under: (a) where a return has been furnished during the period commencing on the 1st day of october, 1991 and ..... ., 1991 to 30th sept., 2005. in view of these facts, we are of the view that no notice under section 143(2) was served on the assessee and the new proviso brought by the finance act, 2006 will not come to the help of the department. accordingly, the case law of the hon'ble jurisdictional high court ..... departmental representative clearly stated that there is change in law as regards the provisions of section 148 of the act by the finance act, 2006 with retrospective effect from 1st oct., 1991 and with that change in law in the provisions of section 148 of the act, the requirement of notice is done away. however, the learned departmental representative clearly produced .....

The Commissioner of Income-tax Vs. Synergy Financial Exchange Ltd.

Court : Chennai

Reported in : (2006)205CTR(Mad)481; [2007]288ITR366(Mad); (2006)4MLJ1411

..... in cit v. upasana finance ltd. [2006] 202 ctc 383, and held that on printing cylinders, ms bins and shippers sintex ice boxes, depreciation of 100% is allowable under the first proviso to section 32(1)(ii) of the act, and each of these assets is a plant individually as defined under section 43(3) of the act.3.12. of course, ..... fund contribution is made before the due date for furnishing the return. according to the learned counsel for the assessee, the deletion of second proviso to section 43b by the finance act, 2003 with effect from 1.4.2004, should be given retrospective operation so as to make it applicable to the impugned assessment year 1994-95.4.7 ..... the statute is passed. 4.9. we are constrained to examine the instant case on the basis of above tests. the second proviso to section 43b of the act, which stands omitted by the finance act, 2003 with effect from 1.4.2004, related to a condition imposed on the assessee to claim deduction of statutory contribution. the condition under .....

Commissioner of Income Tax Vs. Boparai Industrial Corpn. (P) Ltd.

Court : Punjab and Haryana

Reported in : (2007)208CTR(P& H)411

..... would be suffice to say that the alleged technical defects on account of which, the assessment framed under section 147/148 of the act was set aside, has been cured by an amendment in section 148 of the act by finance act, 2006 with retrospective effect from 1st oct., 1991, wherein a new proviso has been added which is as ..... under:(a) where a return has been furnished during the period commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section ..... , and(b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but .....

Punjab State Cooperative Supply and Marketing Federation Limited Vs. U ...

Court : Punjab and Haryana

Reported in : (2006)206CTR(P& H)194; [2007]290ITR15(P& H)

..... not within the period of limitation. against the order passed by the cit(a), the revenue went in appeal before the tribunal, which is pending.3. vide finance act, 2006, section 148 has been amended w.e.f. lst oct., 1991. the said provision before and after the amendment is as under:before amendment148. issue of notice where income has escaped ..... . the legislature with a view to remedy the situation, carried out amendment vide finance act, 2006 w.e.f. 1st oct., 1991 upto 30th sept., 2005, validating notice and assessment/reassessment/recomputation if the same were beyond the time specified under section 143(2) but within the time specified under section 153(2).6.2 in national agricultural co-operative marketing federation of india ltd .....

Asstt. Cit, Range 10(1) Vs. Citicorp Finance (India Ltd.)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108ITD457(Mum.)

..... to matters arising with effect from assessment year 2006-07.9. section 14a has been inserted in the income tax act, section 11 of the finance act, 2001, with retrospective effect from 1-4-1962, i.e., for and from assessment year 1962-63. section 14a has been amended by section 10 of the finance act, 2002 and again by section 7 of the finance act, 2006. section 14a as so amended reads now as ..... assessment year beginning on or before the ist day of april, 2001. (*inserted as section 14a (without numbering) in the income tax act by the finance act, 2001 with retrospective effect from 1-4-1962.** inserted by the finance act, 2006 and consequently all the clauses of section 14a were numbered. -inserted by the finance act, 2002.) 10. in the matter before us, we are not concerned with the proviso .....

Shri Kiran Nagji Nisar Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)300ITR286(Mum.)

..... 01.04.1989 is not relevant in the present case because of the retrospective amendment w.e.f.01.10.1991 made by the finance act, 2006 in section 148. as per this amendment, such notice under section 143 (2) issued after this specified period of 12 months is also valid if the same is issued before the completion of the assessment, in cases, ..... the order of learned cit (a), wherein, a clear finding is given by him that notice under section 143 (2) was indeed not issued to the assessee. following submissions were made by him: a) it is submitted that amendment to section 148 by the finance act, 2006 w.r.e.f. 01.10.1991 does not help the case of the revenue because as ..... per this amendment also, notice issued under section 143 (2) can be issued late but before the expiry of time limit for making the .....

Dy. Cit Vs. Seksaria Biswan Sugar Factory

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the assessee in relation to income which does not form part of the total income under the income tax act. sub-sections (2) and (3) have been inserted in section 14a of the income tax act by the finance act, 2006.sub-section (2) provides that the assessing officer shall determine the amount of expenditure incurred in relation to such ..... of disallowance has now been provided in sub-sections (2) and (3) of section 14a of the income tax act, it is no longer open to the assessing officer to ..... with the exempt income have to be disallowed under section 14a regardless of whether they are direct or indirect, fixed or variable and managerial or financial in accordance with law. in this connection, the provisions of sub-section (2)/(3) of section 14a inserted by the finance act, 2006 deserve to be noted.9. the procedure for computation .....