Court : Delhi
..... amendment introduced in the proviso to section 44bb(1) of the act by the finance act, 2010 with effect from 01.04.2011, specifically excluded the incomes falling within the scope of section 44da of the act ..... finance act, 2010, the proviso to section 44bb(1) of the act was amended with effect from 01.04.2011 to specifically exclude from its scope, incomes referred to under section 44da of the act ..... section 44bb(1) and 44da(1) of the act was resolved by the finance act, 2010 by including a reference to section 44da in the proviso to section 44bb(1) of the act with effect from 01.04.2011 and simultaneously introducing a second proviso to section 44da(1) which reads as under: "provided further that the provisions of section 44bb shall not apply in respect of the income referred to in this ..... be termed as 'mining operations' and consequently provided that expression "mining projects" or like projects" as occurring in explanation 2 to section 9(1)(vii) of the act would also cover "rendering of services like imparting of training and carrying out drilling operations for exploration or exploitation of oil and natural ..... section, if he keeps and maintains such books of account and other documents as required under sub-section (2) of section 44aa and gets his accounts audited and furnishes a report of such audit as required under section 44ab, and thereupon the assessing officer shall proceed to make an assessment of the total income or loss of the assessee under sub-section (3) of section .....
Tag this Judgment!Court : Delhi
..... amendments which we have to notice is that the second proviso to section 44da was inserted by the finance act, ..... amendment made by the finance act, ..... -section (1) of section 44da inserted by the finance act, ..... to a person who, having been appointed before 15th day of august, 1947, to be a judge of the federal court or of a high court within the meaning of the government of india act, 1935, continues to serve on or after the commencement of the constitution as a judge in india.7. when section 44bb was first inserted by the finance act, 1987 with retrospective effect from 01.04.1983, it was applicable to all assessees irrespective of their residential status ..... (3) notwithstanding anything contained in sub-section (1), an assessee may claim lower profits and gains than the profits and gains specified in that sub-section, if he keeps and maintains such books of account and other documents as required under subsection (2) of section 44aa and gets his accounts audited and furnishes a report of such audit as required under section 44ab, and thereupon the assessing officer shall ..... proceed to make an assessment of the total income or loss of the assessee under subsection (3) of section 143 and determine .....
Tag this Judgment!Court : Delhi
..... of the deferred tax liability being brought to tax under the provisions of section 115jb as retrospectively amended with effect from 1-4-2001 by the finance act, 2008, the petitioner sought to attack the vires of the amendment, the contention being that the amendment takes away the right of the petitioner to adopt the accounting standards-2 (as-2) which has been made mandatory by a notification issued for the purposes of section 145. ..... we note that the order of this court passed on 18-1-2011 records the concession of the petitioner that though the question of vires of certain provisions of the finance act, 2008 was under challenge, he would have no objection if the assessment order dated 28-12-2010 is set aside and the respondent is directed to deal with the objections of the petitioner and pass fresh orders, with the further concession that the plea of ..... sanjeev sabharwal, learned counsel for the revenue have fairly stated that they have no objection if the assessment order dated 28th december, 2010 contained in annexure 2 is quashed and the matter is remitted to the assessing officer to deal with the objection filed by the assessee-petitioner on a specific date and thereafter proceed in accordance with ..... contained in annexure 2 is quashed and it is directed that the assessing officer shall hear the assesseepetitioner on 28th february, 2011 on the question of his objection that has been filed on 11th august, 2010 and pass an order and thereafter proceed as per law, if required. .....
Tag this Judgment!Court : Delhi
..... to its omission by way fa2013 with effect from 1st may 2013, there was an explanation to section 66b which stated that for the removal of doubts, it is hereby clarified that the references to the provisions of section 66 in chapter v of the finance act, 1994 or any other act, for the purpose of levy and collection of service tax, wp (c) 5267 of 2013 page 6 of 26 shall be construed as references to the provisions of section 66b. ..... parliament has for the first time under the constitution (one hundred and first amendment) act, 2016 effective 8th september 2016 amended article 286 (1) to provide that there will be tax on the export of services out of the territory of ..... the explanation to rule 3 (2) too underwent a change and read thus after the 2010 amendment: for the purposes of this rule india includes the installations, structures and vessels in the continental shelf of india and the exclusive economic zone of india, for the purposes of prospecting or extraction or production of mineral, ..... a representation dated 22nd may 2012 to the joint secretary, tru in the ministry of finance seeking exemption to the tour operators under the amended provisions based on foreign exchange earnings. ..... wp (c) 5267 of 2013 page 24 of 26 once the parliament determines by law what is amendable and not amenable to service tax, the modalities for working out the procedure for levy and collection of such tax can be left to ..... such service cannot be brought to tax without amending section 64 (3) of the fa.49. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
..... section 292bb as inserted by finance act 2008 reads as under: 292bb where an assessee has appeared in any proceeding or cooperated in any inquiry relating to an assessment or reassessment it shall be deemed that any notice under any provision of this act which was required to be served upon him has been duly served upon him in time in accordance with the provisions of this act and such assessee shall be precluded from taking any objection in any proceeding or inquiry under this act ..... section was inserted by finance act ..... he further argued that finance act 2006 with retrospective effect from the 1st october, 1991 has provided that where return has been furnished u/s 148 during the period commencing on 1st october, 1991 and ..... on the above mentioned judgment of the hon'ble delhi high court, it is held that though notice u/s 143(2) of the it act was not served by the ao during the course of the assessment proceedings, the action of the ao making assessment u/s 143(3) read with section 147 of the it act is found to be fully justified and the appeals are decided against the assessee. ..... the appellant craves leave to add, amend or alter any of the grounds ..... (2010) 47 dtr 33 has held that provisions of section 292bb are applicable only from assessment year 2008-09 and also do not apply where there is failure to issue notice as jurisdiction to assess arises only after ..... baruha (2010) 329 itr ..... 7932/2010 dated 24/1/2012 has held that notice u/s 143(2) is mandatory in reassessment proceedings and it .....
Tag this Judgment!Court : Delhi
..... section 158bb (subsequent to amendment by the finance act ..... specified in the notice a return in the prescribed form1 and verified in the same manner as a return under clause (i) of sub-section (1) of section 142, setting forth his total income including the undisclosed income for the block period: provided that no notice under section 148 is required to be issued for the purpose of proceeding under this chapter: provided further that a person who has furnished a return ..... as such, since the gifts have already been disclosed to the revenue prior to the search, they cannot form part of the block assessment within the meaning of section 158bb(1), and cannot be thus, brought to tax as undisclosed income , as was reiterated in hotel blue moon (supra) which held that the scope of block assessment is limited to ita1192004 ..... a larger, five member bench of the supreme court reiterated the distinctness of the procedure between normal assessments and block assessments, with specific reference to the charging section (of the income tax), the reference to previous year as the income for which tax is levied and the special procedure for assessment of undisclosed income relatable to materials seized ..... hotel blue moon (2010) 229 ctr (sc) 219 held that block assessments are not intended to substitute regular assessment and its scope and ambit ..... mehrotra (2010) 230 ctr (all) 288, an assessment based on search alone that does not attribute material evidence found therein or other information available .....
Tag this Judgment!Court : Delhi
..... section 158bb (subsequent to amendment by the finance act ..... specified in the notice a return in the prescribed form1 and verified in the same manner as a return under clause (i) of sub-section (1) of section 142, setting forth his total income including the undisclosed income for the block period: provided that no notice under section 148 is required to be issued for the purpose of proceeding under this chapter: provided further that a person who has furnished a return ..... as such, since the gifts have already been disclosed to the revenue prior to the search, they cannot form part of the block assessment within the meaning of section 158bb(1), and cannot be thus, brought to tax as undisclosed income , as was reiterated in hotel blue moon (supra) which held that the scope of block assessment is limited to ita1192004 ..... a larger, five member bench of the supreme court reiterated the distinctness of the procedure between normal assessments and block assessments, with specific reference to the charging section (of the income tax), the reference to previous year as the income for which tax is levied and the special procedure for assessment of undisclosed income relatable to materials seized ..... hotel blue moon (2010) 229 ctr (sc) 219 held that block assessments are not intended to substitute regular assessment and its scope and ambit ..... mehrotra (2010) 230 ctr (all) 288, an assessment based on search alone that does not attribute material evidence found therein or other information available .....
Tag this Judgment!Court : Delhi
..... said decision, it has been held that the proviso to section 40(a)(ia) of the act amended by finance act, 2010 has retrospective effect.9. ..... section 40(a)(ia) was further amended by finance act, 2010 with effect from 1st april, 2010 and the amended provision now reads as under: (ia) any interest, commission or brokerage, rent, royalty, fees for professional services or fees for technical services payable to a resi-dent, or amounts payable to a contractor or sub-contractor, being resident ..... amendments were made to the proviso to section 40(a)(ia) of the act by finance act, 2010 and these are not retrospective but applicable to and from assessment year 2010 ..... . the amended proviso as inserted by finance act, 2010 states where an assessee has made payment of the tds on or before the due date of filing of the return under section 139(1), the sum shall be allowed as an expense in computing the income of ..... we refer to the amendments which have been made by the finance act, 2010 and the effect ..... to the amendment made by finance bill, 2010, section 40(a)(ia) had stipulated that in case where the tax was deductable and so deducted during the last month of the previous year but was paid on or before the due date specified in section 139(1) of the act, deduction/expenditure will be allowed in the previous year notwithstanding the main section ..... asked to explain why disallowance should not be made under section 40(a)(ia) as amended by finance act, 2008 with retrospective effect from 1st april, 2005. .....
Tag this Judgment!Court : Delhi
..... amendment 40(a)(ia) by finance act, 2010 in the memorandum explaining the amendments was also reproduced and reads : notes on clauses: clause 12 of the bill seeks to amend section 40 of the income-tax act ..... amendments made to section 40(a)(ia) of the act by finance act, 2010 ..... . the amended proviso as inserted by finance act, 2010 states where an assessee has made payment of the tds on or before the due date of filing of the return under section 139(1), the sum shall ..... section 40(a)(ia) as amended by finance act, 2010 ..... amendments which have been made by the finance act, ..... section 40(a)(ia) and the proviso as amended by finance act, 2008 with retrospective effect from 1st april, 2005 notices and acknowledges the said position and, therefore, clause (a) states that where tax was deductible and was so deducted during the last month of the previous year but stands paid before the due date specified under sub-section (1) to ..... section 40(a)(ia) was inserted with effect from 1st april, 2005 by finance (no.2), 2004 bill and after retrospective amendment by finance act ..... being resident, results in the disallowance of the said sum, in the computation of income of the payer, on which tax is required to be deducted under chapter xvii-b. it is proposed to amend sub-clause (ia) of clause (a) of the aforesaid section to provide that disallowance under the said sub-clause will be attracted, if, after deduction of tax during the previous year, the same has not been paid on or before the due date of .....
Tag this Judgment!Court : Delhi
..... prior to the amendment brought about by finance act 2010, section 67 of the act provided that the value of taxable services would be the gross amount charged by the service provider for such service rendered by him . ..... on the strength of the aforesaid decisions, she contended that the concerned legislative amendment introduced by the finance act, 2010, namely, insertion of explanation to section 65(105)(zzzh) and clause (zzzzu), were valid and enforceable. ..... the said section as amended by finance act 2010 reads as under:- 67. ..... state of karnataka (supra), we do not propose to examine whether services involved in construction of complexes is exigible to service tax as services in relation to execution of a works contract falling within the scope of section 65(105)(zzzza) of the act or under section 65b(44) after the amendments brought about in the act by virtue of finance act, 2012 - the said controversy is outside the scope of the present petitions and it would not be appropriate for us to examine it in these petitions [see hindustan polymers co. ..... the petitioners are aggrieved by the levy of service tax on services 'in relation to construction of complex' as defined under section 65 (105)(zzzh) of the finance act, 1994 (hereafter 'the act') and inter alia impugn the explanation to section 65(105)(zzzh) of the act (hereafter the impugned explanation') introduced by virtue of finance act 2010 as being ultra vires of the constitution of india. .....
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