Court : Chennai
Reported in : [2001]250ITR761(Mad)
..... aggrieved by the order of the commissioner by which the assessee's request for waiver of interest, under section 220(2a) of the income-tax act, 1961, for the assessment years 1979-80. ..... counsel for the assessee contended that for the assessment years in question, it was necessary to compute the extent of relief available under section 80j and as that section has been amended with retrospective effect from 1972 and the validity of the amendment had been under challenge before the supreme court and the law had remained uncertain till ..... 2) act, 1980, in so far as it amended section 80j by incorporating the provisions of rule 19a, as sub-section (1a) in section 80j, with retrospective effect from april 1, 1972, the ..... , no bar on the revenue raising the demand for interest on the amount of tax payable for the years prior to the date of the supreme court's judgment. ..... the assessee always had the option of paying tax under protest and securing refund thereof in the event of success in its challenge to the order of assessment or to the provision of law under which the assessment ..... the course of his order, has observed that interest was demanded, immediately after the tax was paid, for the period of delay. ..... the retrospective amendment bad been challenged before the supreme court does not have the effect of relieving the assessee of the liability for payment of interest on the amount of tax that the assessee had not paid. ..... : [1985]152itr308(sc) , upholding the validity of the finance (no. .....
Tag this Judgment!Court : Chennai
Reported in : [1999]239ITR548(Mad)
..... supreme court observed as follows (headnote) : 'the question whether the commissioner was justified on the facts and in the circumstances of the case, in refusing to exercise his power under section 273a of the income-tax act, 1961, to waive interest and penalty where the assessee has disclosed income voluntarily in a revised return, is a question to be examined on the merits and the high court, on a writ petition challenging such a refusal, ought not to dismiss the petition ..... the decisions, the kerala high court held that where an application is made for waiver of interest levied under section 215 of the income-tax act, 1961, the income-tax authorities have to objectively consider the circumstances and find out whether the assessee is entitled to it. ..... under section 220(2) of the income-tax act, 1961, for the assessment year 1980-81. ..... it was held that the liability to pay interest to the department under section 220(2) of the income-tax act, 1961, arose only from the date when the fresh notice of demand was issued to the assessee and not from the date when the tax was refunded to the assessee that case also does not in any way advance the case of ..... it also held that the finance (no.2) act, 1980, in so far as it amended section 80j by incorporating the provisions of rule 19a as sub-section (1a) in section 80j with retrospective effect from april 1, 1972, was merely clarificatory in nature and was ..... apex finance and leasing ..... additional finance was required to be invested to complete .....
Tag this Judgment!Court : Chennai
Reported in : [1999]238ITR801(Mad)
..... fact that we are concerned with the assessment year 1971-72 onwards, no useful purpose would be served by remitting the matter to the appellate tribunal to direct the income-tax officer to consider the question whether the partition can be recognised under section 171 of the income-tax act, particularly when we are upholding the order of the appellate tribunal that the partial partition was genuine and valid and there is no necessity to recognise the partial partition ..... given by the supreme court is that so long as the finding is not recorded under section 171 of the income-tax act, holding that when the partial partition took place, the hindu undivided family shall be deemed for the purpose of the income-tax act to be the owner of the property which is the subject-matter of partition and also the recipient of the income of the property and the relevant passage of the court reads as under (page 709) ..... act, 1980, with effect from april 1, 1980, there must be an order recognising the partial partition under section 171 of the income-tax act ..... section 20a of the wealth-tax act deals with the partial partition of the hindu undivided family and it was introduced in the wealth-tax act only by the finance ..... though under the provisions of section 20 of the wealth-tax act, there was no need to recognise a partial partition as the provisions for recognising the partial partition under the wealth-tax act came into force by section 20a of the wealth-tax act introduced by the finance (no. .....
Tag this Judgment!Court : Chennai
Reported in : [1995]215ITR371(Mad)
..... these writ petitions are filed by different income-tax assessees praying for a writ of declaration or any other appropriate writ, order or direction declaring the provisions of section 64(1a) of the income-tax act, 1961, as amended by the finance act, 1992, as illegal, beyond the scope of preventing avoidance of tax and inconsistent with the scheme of the income-tax act and violative of articles 14, 19 and 265 of the constitution of india. ..... 2) act, 1980, not recognising the family partition under the hindu law, the division bench of this court construed that non-recognition of partial family partition under section 171(9) of the income-tax act and clubbing of the coparcener's income as a whole was illegal and accordingly struck down sub-section (9) of section 171 as ultra vires in m. v. ..... further, in a matter like this we cannot put it better than what the supreme court has said in ganga sugar corporation's case, : [1980]1scr769 in the following passage (at page 297) : 'it is well established that the modern state, in exercising its sovereign powers of taxation, has to deal with complex factors relating to the objects to be taxed, the quantum to be levied, the conditions subject to which the levy has to be made, the social and economic policies which the .....
Tag this Judgment!Court : Chennai
Reported in : (1988)67CTR(Mad)289; [1988]170ITR238(Mad)
..... - this writ petition is allowed and the notices and the reassessment made under section 147(b) of the income-tax act, 1961, and the consequent notices of demand for the assessment years 1980-81 and 1981-82 dated october 29, 1982, after derecognising the partial partition are quashed. w.p. no. ..... the 31st day of december, 1978, among the members of a hindu undivided family hitherto assessed as undivided, - (a) no claim that such partial partition has taken place shall be inquired into under sub-section (2) and no finding shall be recorded under sub-section (3) that such partial partition had taken place and any finding recorded under sub-section (3) to that effect whether before or after the 18th day of june, 1980, being the date of introduction of the finance (no. ..... the latter part of clause (a) which provides that 'any finding recorded under sub-section (3) to that effect whether before or after june 18, 1980, being the date of introduction of the finance (no. ..... clause (a) of sub-section (9) further provided that if any finding was recorded before or after june 18, 1980, which was the date of the introduction of the finance (no. ..... all the above-mentioned writ petitions which involve questions relating to the validity, scope and interpretation of the provisions of section 171(9) of the income-tax act, 1961 (hereinafter referred to as the act), which was introduced by the finance (no. ..... then comes sub-section (9) which, as already pointed out, was introduced by the finance (no. .....
Tag this Judgment!Court : Chennai
Reported in : (1988)72CTR(Mad)99; [1988]174ITR697(Mad)
..... regarding the remaining three items also, the commissioner of income-tax (appeals) held that they should also be included in the capital for the purpose of grant of relief under section 80j of the act, following the decision of the calcutta high court in cit v. ..... the income-tax officer disallowed the claim for relief under section 80j of the income-tax act, 1961, on the ground that the machinery was not yet installed and, therefore, was not in use and the amount of capital was not employed in the business. ..... regarding borrowed capital, the tribunal held that the matter should go back to the income-tax officer for fresh consideration in view of the amendment of section 80j with retrospective effect from april 1, 1972, by the finance (no. ..... madras wire products : [1980]123itr722(mad) , would clearly apply and hence even after the introduction of section 80j(1a), the value of the work-in-progress would qualify for inclusion in the computation of capital for relief. ..... 2) act, 1980. ..... madras wire products : [1980]123itr722(mad) would govern this case as well. ..... madras wire products : [1980]123itr722(mad) has been followed by this court in cit v. ..... madras wire products : [1980]123itr722(mad) has observed as follows (p. ..... madras wire products : [1980]123itr722(mad) , wherein it was held that the value of machinery in transit should also be included in the capital. ..... madras wire products : [1980]123itr722(mad) . ..... madras wire products : [1980]123itr722(mad) . .....
Tag this Judgment!Court : Chennai
Reported in : [1988]24ITD42(Mad)
..... under section 7a of the compulsory deposit scheme (income-tax payers) act, 1974, the amount of compulsory deposit is deemed to be a deposit with a banking company to which the banking regulation act, 1949 applies for the purpose of exemption under section 5 of the wealth-tax act, 1957. ..... therefore, there cannot be any analogy, true or false, between the relevant provisions of the income-tax act and the act in this behalf, in view of this basic and fundamental difference existing between the chargeable events themselves.under these circumstances, we are of the opinion that since mr. ..... in the case of the income-tax act, a person, even if he died in the middle of an accounting year, might have earned taxable income during the course of that year before his death and, therefore, with reference to that income, he was liable to pay tax and assessment proceedings could be taken and tax could be recovered in the hands of his legal representatives out of the assets left behind by the deceased. ..... in view of this statutory provision contained in the compulsory deposit scheme (income-tax payers) act, 1974, the direction given by the cwt (a) is correct and the appellant is not entitled to any further relief as claimed by him. ..... 2) act, 1980. ..... 2) act of 1980 with retrospective effect from 1-4-1975. ..... the learned departmental representative relied on section 7a of the compulsory deposit act which has been inserted in the statute with retrospective effect from 1-4-1975 by the finance (no. .....
Tag this Judgment!Court : Chennai
Reported in : (2003)181CTR(Mad)431; [2003]264ITR673(Mad)
..... 2) act, 1980 and the reason for the deletion is stated in the statement of objects and reasons and it reads as under:-' under section 143(1) of the income-tax act, an income-tax officer may make a regular assessment without requiring the presence of the assessee or the production by him of any evidence in support of the return, and without being satisfied that the return was correct and complete in ..... sub-sections (iiia), (iiib) and (iiic) of section 28 of the act postulate that the profits on the sale of an import licence, cash assistance and duty of customs or excise repaid or repayable as drawback are all treated as business income and by the finance act, 1990, section 28 has been amended with full retrospective effect from 1.4.1961 treating all kinds of income covered under three sub-sections as business income of the assessee. ..... ' sub-clauses (ii) and (iii) of section 143(1)(b) were omitted by the finance (no. .....
Tag this Judgment!Court : Chennai
Reported in : [2003]128TAXMAN880(Mad)
..... 2) act, 1980 and the reason for the deletion is stated in the statement of objects and reasons and it reads as under :'under section 143(1) of the income tax act, an income tax officer may make a regular assessment without requiring the presence of the assessee or the production by him of any evidence in support of the return, and without being satisfied that the return was correct and complete in ..... sub-clauses (iiia), (iiib) and (iiic) of section 28 of the act postulate that the profits on the sale of an import licence, cash assistance and duty of customs or excise repaid or repayable as drawback are all treated as business income and by the finance act, 1990, section 28 has been amended with full retrospective effect from 1-4-1961 treating all kinds of income covered under three sub-clauses as business income of the assessee. ..... 'sub-clauses (ii) and (iii) of section 143(1)(b) were omitted by the finance (no. .....
Tag this Judgment!Court : Chennai
Reported in : (1986)54CTR(Mad)235; [1986]159ITR618(Mad)
..... it must also be pointed out that parliament has now introduced section 80aa and section 80ab by finance act 2 of 1980. ..... section 80aa is restricted only to 'computation of deduction under section 80m' and section 80ab deals with deduction required to be made or allowed under any other section except section 80m included in chapter vi-a of the income-tax act ..... ]155itr120(sc) shows that that was restricted only to the construction of section 80m of the income-tax act, 1961, as will be clear from the following observations at page 131 : 'it is section 80m which has to be construed and this section, as we shall presently show, is materially different from section 85a. ..... for the assessment year 1973-74, the question was whether relief under section 80k of the income-tax act, 1961, should be granted on the net dividend income or on the gross dividend income. ..... with the assessee's income under section 64(1)(iii) of the income-tax act, 1961. ..... order of the tribunal, the above-mentioned two questions have been referred to this court under section 256(1) of the income-tax act, 1961. 3. ..... counsel pointed out that the supreme court has now taken a different view in regard to the provisions of section 80m of the income-tax act, 1961, and has reversed the earlier decision of the supreme court in which the supreme court had, with reference to section 80m, also held that for the purpose of section 80m, the deduction must be made with reference to the gross dividend income and not the net dividend income. .....
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