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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 .....

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 given by way of these decisions is sought to be withdrawn by the legislature through the insertion of proviso to section 148 by the finance act, 2006 w.r.e.f. 1st oct., 1991 by laying down that if a notice under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 ( .....

New Rajasthan Trading Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... is held to be leviable, the same must be restricted to the amount deductible/collectible. in this connection, resort is taken to the proviso introduced by finance act, 1991 retrospectively with effect from 1-10-1991 under section 272a(2). the ld. a/r also relies upon the decision of the jaipur bench of itat in the case of superintending engineer v. ito ..... , read with rule 37. we, therefore, feel that invoking of the provisions of section 293b of the act is mis-placed and not justified.5.1 we, however, feel that the benefits under proviso to section 272a(2) though inserted by finance act, 1991 with effect from 1-10-1991 should be made available to the assessee on the ground that the benefit of a .....

Assistant Commissioner of Vs. Sharda Gums and Chemicals

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2001)76ITD282(Jodh.)

..... with and subject to the provisions of section 80hhc. he pointed out that such is the mandate of section 80hhc(1).8.1 section 80hhc(3) prescribes the mode of computation of profit derived from export business. the provisions of section 80hhc(3) as it existed prior to its amendment by the finance act, 1990 and which existed in the relevant ..... (2) the profils of any branch, office, warehouse or any other establishment of the assessce situate outside india." the- explanation fbaaj was inserted in section 80hhc by the finance (no. 2) act, 1991 w.e.f. 1-4-1992 and is applicable for and from assessment year 1992-93. strictly speaking the said explanation may not be applicable ..... profession") the same proportion as the export turnover bears to the total turnover of the business carried on by the assessee." explanation (baa) of section 80hhc which was inserted by finance (no. 2) act, 1991 w.e.f. 1-4-1992 reads as under :-- "(baa) profils of the business means the profits of the business as computed .....

Assistant Commissioner of Income Vs. Sharda Gums and Chemicals. (Shard ...

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... 80hhc. he pointed out that such is the mandate of s. 80hhc(1).7.1. sec. 80hhc(3) prescribes the mode of computation of profit derived from export business. the provisions of s. 80hhc(3) as it existed prior to its amendment by the finance act, 1990, and which existed in the relevant year under consideration was brought to our notice by ..... 2) the profits of any branch, office, warehouse or any other establishment of the assessee situated outside india." the expln. (baa) was inserted in s. 80hhc by the finance (no. 2) act, 1991 w.e.f. 1st april, 1992, and is applicable for and from asst. yr. 1992-93. strictly speaking the said explanation may not be applicable for the year ..... per cent of such income was required to be excluded for computing the profits of business eligible for grant of deduction under s. 80hhc by an amendment made by finance (no. 2) act, 1991, w.e.f. 1st april, 1992. this clearly and necessarily implies that prior to asst. yr. 1992-93 the interest receipts and the amount of .....

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 .....

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 .....

income Tax Officer Vs. Bhomraj Agarwal

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... the department.he has also contended that as regards the pendency of matter in the hon'ble high court the provision regarding exemption is contained in section 10 of it act wherein there is no provision that disputed income is exempt from tax. he has also contended that while receiving payment of the amount of interest by ..... than the amount of compensation received by the agriculturists who approached the central government and the central government sympathetically considered the matter whereupon at the instance of the finance ministry the cbdt issued instructions vide f.no. 225/51/96-ita ii, dt. 29th feb., 1996, informing the chief cit jaipur, that the payment ..... by the government under some other provision of law or by agreement or unauthorisedly, there being no such statutory provision as contained in sections 16 and 17 of the land acquisition act vesting the property in the government with the assumption of the possession of the land there continues the claimant's deprivation of land .....

Shri Rajasthan Syntex Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... 1991-92 it is observed that the textile cess is levied and collected under a separate statute called textile committee act, 1963, which is a parliamentary act and as such come under the purview of section 43b after the amendment made by the finance act, 1988.26. as such considering all the facts of the case, the legal position emanating from the various ..... high court that such market fees cannot be regarded as tax or duty attracting provisions of section 43b. it is pertinent to note here that clause (a) of section 43b at the relevant time referred only to tax or duty. however, the same was substituted by the finance act, 1988, w.e.f. 1st april, 1989, to read as under : "(a) ..... any tax, duty, cess or fees payable under a statute by whatever. name called".with the result of the above amendment the scope of section 43b stands widened to also cover the cess and fees payable .....