Judgment Search Results Home > Cases Phrase: finance act 2007 section 8 amendment of section 12a Court: income tax appellate tribunal itat delhi Page 6 of about 84 results (0.149 seconds)

Sial Sbec Bioenergy Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)83TTJ(Delhi)866

..... to claim depreciation.3. the contention raised by the assessee before the ao did hot find favour as the ao felt that in view of expln. 5 added to section 32 by the finance act, it is obligatory on the assessee to claim depreciation and if not claimed the ao will first deduct the depreciation and then arrive at the figure. though the ..... relating to carry forward and set off of cumulative loss and unabsorbed depreciation allowance in amalgamation or demerger), section 10(6) as inserted in the year 1961 and omitted by finance act, 1993, section 10(5)(b) prior to its omission by finance act, 2002, section 32a investment allowance, section 80rra. references to these sections were made purposely to demonstrate that the word electricity has been used in those .....

Mentha and Allied Products Pvt. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1992)43ITD33(Delhi)

..... at the instance of the income-tax department, the high court held that the assessee is entitled to the relief provided for in section 2(5)(a) of the finance act, 1966, on both the amounts. section 2(5)(a) of the finance act of 1966 under which the assessee claimed the relief was in the following terms : "2. (5)(a) in respect of any ..... -67, the assessee claimed rebate on the value of the exported goods and on the two receipts referred to above on the basis of the provisions of section 2(5)(a) of the finance act, 1966. the income-tax officer held that the cash subsidy of rs. 1,60,717 and the profits from the sale of import entitlements amounting to ..... court distinguished this case and held it to be totally inapplicable. it pointed out that the madras case was a case of claiming rebate under the provisions of section 2(5){a) of the finance act, 1966. under the scheme framed by the central government to encourage export of goods, the assessee became entitled to import licences and, on the sale of .....

Mahanagar Telephone Nigam Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)100TTJ(Delhi)1

..... of the appellant with the following observations : we have heard both the sides and considered the materials on the file. the provision of section 80-ia(4c) introduced by the finance act, 1997 with retrospective effect from 1st april, 1996 is so clear that for non-fulfilment of the basic condition of starting the business of ..... it did not fulfil the requisite conditions specified for allowance on the deduction under section 80-ia(4c). section 80-ia(4c) was inserted in the act by the finance act, 1997 with retrospective effect from 1st april, 1996. the explanatory notes on the provisions of the finance act, 1997, as contained in board's circular no. 763, dt. 18th feb ..... deduction was disallowed by the ao. cit(a) confirmed this stand again observing that : section 80-ia(4c) was inserted in the act by the finance act, 1997 with retrospective effect from 1st april, 1996. the explanatory notes on the provisions of the finance act, 1997 as contained in board's circular no. 763, dt. 18th feb., 1998 .....

Priyanka Overseas Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... tax was payable on account of ccs amount, as by that date amendment has not come as the amendment came by finance act, 1990. in view of these facts and circumstances we hold that no interest under section 234b or 234c should be charged on account of failure to pay advance tax on the amount of cash compensatory support ..... union of india (1992) 194 itr 7 (del). subsequently, the law was amended with retrospective effect by the finance act, 1990 and as such the receipts became taxable. accordingly, the income was enhanced by the ao and interest under sections 234b and 234c was charged. the ao did not accept the explanation of the assessee that there was a ..... also stated that the return of the assessee was processed under section 143(1)(a) and no interest under section 234b or 234c was charged and it was charged only when the assessment was completed under section 143(3) after the amendment came on the statute by finance act. the reliance was placed on the decision of jurisdictional high court .....

Priyanka Overseas Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... was payable on account of ccs amount, as by that date amendment has not come as the amendment came by finance act, 1990. in view of these facts and circumstances we hold that no interest under sections 234b or 234c should be charged on account of failure to pay advance tax on the amount of cash compensatory ..... union of india [1992] 194 itr 7. subsequently, the law was amended with retrospective effect by the finance act, 1990 and as such the receipts became taxable. accordingly, the income was enhanced by the assessing officer and interest under sections 234b and 234c was charged. the assessing officer did not accept the explanation of the assessee that there ..... also stated that the return of the assessee was processed under section 143(1)(a) and no interest under sections 234b or 234c was charged and it was charged only when the assessment was completed under section 143(3) after the amendment came on the statute by finance act. the reliance was placed on the decision of jurisdictional high .....

Nalwa Investments Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... objection raised by the learned counsel for the assessee it has to be mentioned that the provisions of section 14a were introduced by the finance act of 2001 with retrospective effect from 1-4-1962. a proviso was introduced to the provisions of section 14a by the finance act of 2002 with retrospective effect from 11-5-2001 (the dates on which the ..... finance bill 2001 inserting the provisions of section 14a received the assent of the president of india). under the proviso the assessing officer had ..... the merits of the impugned disallowance, we notice that recently a third member decision of the delhi tribunal in the case of wimco seedlings ltd. v. dy. cit (2007) 107 itd 267 (del)(tm) has dealt with this issue and has laid down that it is only where it is proved that expenditure has been incurred in .....

ito Vs. Amar Lal

Court : Income Tax Appellate Tribunal ITAT Delhi

..... tribunal in the case of padam prakash (huf) (supra), wherein it has been held: 25. it is no doubt true that legislature while inserting sub-section (5) in section 45 through the finance act, 1987 with effect from 1-4-1988, did not provide for cases where enhanced or further enhanced compensation was subsequently reduced by any court, tribunal or other ..... ) was declaratory and would come into force with effect from 1-4-1988 the date on which sub-section (5) was inserted in the statute. 27. clause (c) to sub-section (5) was inserted by finance act, 2003 but it has to be held to be retrospective in operation and taken to be introduced with effect from 1-4-1988. ..... the picture without insertion of above clause (c) was incomplete as the section did not deal with a situation where enhanced compensation is .....

Escorts Founder'S Welfare Trust Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1987)21ITD342(Delhi)

..... . 1-4-1973. sub-section (1a) to section 11 was brought on the statute book by the finance (no. 2) act of 1971 and it does not ..... state that notwithstanding anything contained to the contrary in this act. on the other hand it is ..... are "nothing contained in section 11 or section 12 shall operate so as to exclude from the total income of the previous year", etc., etc. the other relevant provisions of the section we have already reproduced. the section was substituted by the finance act, 1970 with effect from 1-4-1971 and "or section 12" was inserted by the finance act, 1972 w.e.f .....

Shriram Smarak Nidhi Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1989)29ITD186(Delhi)

..... . in this context, we have also to see the provisions contained in sub-section (5) of section 13 of the act. this sub-section (5) has, in fact, been omitted by the finance act, 1983 w.e.f. 1-4-1983. this sub-section (5) of section 13 had been inserted by the taxation laws (amendment) act, 1975, w.e.f. 1-4-1977. however, it had been amended ..... for the assessment year under, appeal. this clause was substituted by the finance act, 1983 w.e.f.1-4-1983 for the clause as amended by finance (no. 2) act, 1977 w.e.f.1-4-1978. we also find that sub-section (5) was added to section 11 by insertion by the finance act, 1983 w.e.f 1-4-1983 and, inter alia, provides the ..... the approval.18. it is noticed also that sub-section (5) to section 11 was inserted by the finance act, 1983 w.e.f. 1-4-1983. we further find that clause (d) of sub-section (1) of section 13 was originally inserted by the taxation laws (amendment) act, 1975 w.e.f. 1-4-1977. however, the finance act, 1982 w.e.f. 1-4-1982 amended it .....

Assistant Commissioner of Vs. Takshila Handloom Industries

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1994)51ITD557(Delhi)

..... to the firm only and that no deduction is permissible to the partners.4. we have given our careful consideration to the rival submissions.section 32ab has been incorporated by the finance act of 1986 with effect from 1-4-1986 providing for deduction out of income from profits and gains of business or profession subject to ..... fulfilment of certain conditions. since the assessee has fulfilled the conditions as provided under section 32ab deduction was allowed to the firm. a proviso has been inserted by the finance act of 1987 with effect from 1 -4-1987, which reads as under:- provided that where such assessee is a ..... 144 the share has to be allocated amongst the partners under section 182 and thereafter, if deduction is claimed by the partner under section 32ab, such deduction is prohibited as the similar deduction has been allowed in the case of the firm. the proviso inserted by the finance act of 1987, in our view, is to prevent double deduction .....