Judgment Search Results Home > Cases Phrase: finance act 2007 section 8 amendment of section 12a Court: income tax appellate tribunal itat delhi Page 7 of about 84 results (0.303 seconds)

Deputy Commissioner of Vs. O. N. G. C.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)74ITD180(Delhi)

..... business or profession.9. as a result of the amendment in section 44bb by the finance act, 1988 the application of the provision of the section 44bb was restricted to the cases of only non-resident taxpayers with retrospective effect from 1-4-1983. this section was introduced as a measure of simplification by the finance act, 1987 with retrospective effect from 1-4-1983. it would ..... be pertinent here to reproduce clause ii of the memo explaining provision in finance bill, 1987. it reads as under :- "new provisions for computation of taxable income from .....

ito Vs. Roop Singh

Court : Income Tax Appellate Tribunal ITAT Delhi

..... received. we have given our reasons for reaching above conclusion which need not be repeated. 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 ..... ) 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 .....

Asstt. Commissioner of Vs. Allied Motors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)45ITD566(Delhi)

..... building on the said plot of land which was incomplete on the valuation date, viz. 30-6-1983. the wto at this stage referred to the relevant section in the finance act, 1983, which was section 40(3)(vi) and which stated : building or land appurtenant thereto other than building or part thereof used by the assessee as factory...according to him, ..... private limited company and the assessment year involved is 1984-85, the valuation date being 30th june 1983.3. the finance act, 1983 by means of section 40 revived the levy of wealth-tax in the case of closely held companies w.e.f. assessment year 1984-85. in other words, this is the ..... to hold that a building under construction with inadequate plant and machinery was a factory which was used by the assessee on 30-6-1983 in terms of section 40(3)(vi) of finance act, 1983, even though the factory building was completed subsequently and factory went into production on 30-12-1983.2. the respondent in this case is a .....

Wealth-tax Officer Vs. Smt. Sudha Chopra

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1987)23ITD552(Delhi)

..... 4-1968; clauses (i) and (ii) were substituted by new clause and explanation by the finance act, 1969 w.e.f. 1-4-1969 and clause (i) was substituted by the finance (no. 2) act, 1971, w.e.f 1-4-1972.13. though there is no change in the circular ..... at 14/5, mathura road, faridabad at rs. 73,500.the value taken in the assessment framed on 27-11-1973 under section 16(3) of the act for the two properties amounted to rs. 1,83,000 and rs. 95,000, respectively. in the assessment order, it ..... returned by any person is less than seventy-five per cent of the value of such asset as determined in an assessment under section 16 or section 17 (the value so assessed being referred to hereafter in this explanation as the correct value of the asset), or then, such ..... area. in any case, in my opinion, the appellant cannot be considered to be coming within the ambit of section 18(l)(c) of the wt act read with explanation 4 thereto, as the appellant has taken due care and caution by relying upon her approved valuer .....

Sony India (P) Limited Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... exceeded the permissible +5% range. subsequently, the relaxation extended by the above circular was, in substance, brought on the statute by the finance act, 2002 by amending the proviso to section 92c(2) of the act with retrospective effect from 01.04.2002 so as to provide that besides the arithmetical mean of the prices, the arm's length price ..... technology services ltd. v. acit, cir.11(1), bangalore 107 itd 141 (bangalore) (sb) and in the case of mentor graphics (nodia) pvt. ltd. v. dy. cit (2007) 109 itd 101 (del), considered the principles which are applicable under the indian transfer pricing regulations. in the present case, we need not repeat them. in the beginning the taxpayer ..... by the revenue are cross-appeals which are directed against three separate orders passed by the learned cit(a) dated 31.12.2004, 21.12.2006 and 31.1.2007 for ay 2001-02, 2002-03 & 2003-04 respectively. as some common issues are involved therein, the same have been heard together and are being disposed of .....

Mange Ram Mittal Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... scope of phraseology, such other materials or information as are available with the assessing officer and relatable to such evidence appearing in section 158bb(1) of the act as substituted by the finance act, 2002 with retrospective effect from 1-7-1995." 2. in this appeal the assessee originally filed grounds of appeal running into ..... assess such investments and expenditure in the absence of satisfactory explanation from the assessee. the provisions of sections 69, 69a to 69d have been consciously incorporated in section 158bb(1) by way of substitution made by the finance act, 2002 with retrospective effect from 1-7-1995 whereby the words "provisions of chapter iv" have ..... the undisclosed income discovered as a result of search only stands already concluded by the amendment to section 158bb by the finance act, 2002 with retrospective effect from 1-7-1995. prior to the amendment the provisions of section 158bb(1) stood as under: 158bb(l) the undisclosed income of the block period shall be .....

Asian Hotels Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)81ITD127(Delhi)

..... law." the hon'ble supreme court also had an occasion to consider the expln. 2 inserted in section 64 of the it act, 1961, w.e.f. 1st april, 1980, by the finance act, 1979 which reads as follows : "for the purpose of this section, 'income' includes 'loss'." the hon'ble supreme court cited with approval the decision of the ..... for services rendered to the foreign tourists.with regard to the provisions of sub-section (2a) inserted by the said finance act, i am of the view that this is only a machinery provision for allowing the correct amount of deduction under the above section.in this particular case, there is no doubt about the genuineness of the ..... not retrospective, was used as a parliamentary exposition of its intent contained in the unamended section (see manickam & co. v. state of tamil nadu (1977) 39 stc 12 : air 1977 sc 518). the explanation added in section 64 by the finance act, 1979, though not in terms retrospective, serves as a parliamentary exposition of the meaning of the word .....

Mange Ram Mittal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)103ITD389(Delhi)

..... and scope of phraseology, 'such other materials or information as are available with the ao and relatable to such evidence' appearing in section 158bb(1) of the act as substituted by the finance act, 2002 with retrospective effect from 1st july, 1995.2. in this appeal the assessee originally filed grounds of appeal running into 24 ..... assess such investments and expenditure in the absence of satisfactory explanation from the assessee. the provisions of sections 69, 69a to 69d have been consciously incorporated in section 158bb(1) by way of substitution made by the finance act, 2002 with retrospective effect from 1st july, 1995 whereby the words "provisions of chapter iv" ..... the undisclosed income discovered as a result of search only stands already concluded by the amendment to section 158bb by the finance act, 2002 with retrospective effect from 1st july, 1995. prior to the amendment the provisions of section 158bb(1) stood as under: 158bb(1) the undisclosed income of the block period shall .....

Assistant Commissioner of Vs. Amadeus India (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... /96 dated 17-2-1997 also clarifies that data entry are well covered within the scope of computer software. since ministry of finance has given detailed definition of computer software (for customs act) it would be appropriate that benefit under section 80hhe be extended to m/s. amadeus. in case of any doubt the matter be referred to department of electronics before any ..... addressed to assessing officer opined as under:-- "if you go by the definition of section 80hhe of income-tax act, that also clearly says that section 80hhe is applicable to a person who is engaged in the business of export out of india of computer software.... since, ministry of finance at various occasions have given elaborate definition of computer software after detailed consultations with .....

income Tax Officer Vs. Selchem Engineers (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)90ITD732(Delhi)

..... given to the unabsorbed depreciation of the earlier years as current year's depreciation by deeming fiction were taken away by the amendment made in the said section by finance (no. 2) act 1996 with effect from 1/4/97, but even the period available to set off such unabsorbed depreciation against the profits of the subsequent years was limited ..... such allowance for that previous year, be deemed to be the allowance for that previous year, and so on for the succeeding previous years." provisions of section 32(2) as amended by finance (no. 2) act 1996 w.e.f. 1/4/97 :- "(2) where in the assessment of the assessee full effect cannot be given to any allowance under clause ..... relevant material on record, it is observed that the impugned claim of the assessee was disallowed by the ao relying mainly on the provisions of section 32(2) as amended by the finance (no. 2) act 1996 with effect from 1/4/97 and became applicable from ay 1997-98 i.e. the year under consideration. it is, therefore, pertinent .....