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Pratap Singh Chandra Singh Vs. Commissioner of Income-tax

Court : Rajasthan

Reported in : [1995]214ITR364(Raj)

..... the income-tax appellate tribunal has referred the following two questions of law arising out of its order dated november 12, 1985, under section 256(1) of the income-tax act, 1961, in respect of the assessment year 1980-81 ..... of the hindu undivided family was effected by the assessee-hindu undivided family on march 31, 1979, which was accepted by the income-tax officer under section 171(3) of the act on january 17, 1980. ..... income-tax appellate tribunal, therefore, was justified in sustaining the levy of interest under section 139(8) of the act ..... a provision even the amendment with retrospective effect has been brought on the statute book, the order which has been passed by the income-tax officer under section 171(3) has to be considered as null and void. ..... 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. ..... sub-section (9) of section 171 of the finance (no. ..... to section 171 was made by the finance (no ..... been made clear that the finding recorded before or after june 18, 1980, being the date of introduction of the finance bill, 1980, shall be null and void. ..... introduced by the finance (no. .....

Commissioner of Income-tax Vs. Madras Motor and General Insurance Co. ...

Court : Chennai

Reported in : (1986)51CTR(Mad)71; [1986]159ITR601(Mad)

..... bankers : [1980]124itr687(all) , also held that neither under section 80k nor under rule 20 of the income-tax rules, 1962, any deduction of the interest paid by the assessee on the loans raised by it for purchasing shares is permitted and that section 80k contemplated deduction of the entire dividend income provided it was attributable to the profits and gains of a company which was entitled to deduction under section 80j.the delhi high court considered the provisions of section 85 of the income-tax act which was ..... 'it may be seen from this statement of the finance minister that so far as the interpretation of section 80k is concerned, they did not want to interfere with the interpretation placed by the various high courts, at least till the assessment year 1981-82 and they wanted to apply the interpretation provision of section 80ab only prospectively with effect from april 1, 1981. ..... we are referring to this prospective operation of section 80 ab only for the purpose of a probable inference that the government itself did not want to disturb the decisions already rendered and they wanted to have a correct interpretation for the period from april 1, 1981, alone and not with reference to earlier assessment years.that the statement of the finance minister could be relied on as an aid to the interpretation of the provisions cannot also be disputed in view of the decision .....

Yenpeyees Rubber (P.) Ltd. Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1983)5ITD605(Mad.)

..... the budget speech of the finance minister for 1980-81 merely mentions : i also propose to make certain amendments in the income-tax act to counteract certain court decisions which have resulted in unintended benefit to taxpayers.... ..... these appeals are directed against the orders of the commissioner (appeals) rejecting the claims of the assessee for relief under section 80hh of the income-tax act, 1961 ('the act'), as a proportion of the profit of the business of the year before setting off of losses carried forward from the earlier years.2. ..... case of cloth traders (supra), the supreme court had to consider the scheme of chapter via and it was observed that all the sections in that chapter used the same legislative formula opening with identical words 'where the gross total income of the assessee includes income' and pointed out that on a plain reading of those sections, the income referred was only the gross income from the source and not the net income as computed under the act. 3. ..... again on reading the speech of the finance minister, the wording of the section and the intention of the supreme court in the case of cloth traders (supra) it appears that if the intention of the parliament was otherwise the wording of the section would be completely different so as to say that the deduction shall be a proportionate amount of the income of the industry which forms the component part of the total income. .....

Educational Trust Fund Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1985)12ITD563(Hyd.)

..... are indeterminate or unknown (such income, such part of the income and such persons being hereafter in this section referred to as 'relevant income', 'part of relevant income' and 'beneficiaries', respectively), tax shall be charged on the relevant income or part of relevant income at the maximum marginal rate : explanation 2 : in this section 'maximum marginal rate' means the rate of income-tax (including surcharge on income-tax, if any) applicable in relation to the highest slab of income in the case of an association of persons as specified in the finance act of the relevant year.for 1980-81 and 1981-82, the change ..... was brought about in the wording of the section by the finance .....

income-tax Officer Vs. Rajnikant Gulabdas Sheth Family

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1987)20ITD668(Ahd.)

..... this connection, he invited our attention to the relevant notes on clauses to the said finance bill which read as under : clause 27 seeks to amend section 164 of the income-tax act relating to the taxation of discretionary trusts. ..... as a result, the entire income of a discretionary trust will be liable to tax at the maximum marginal rate of income-tax (including surcharge) applicable, under the finance act of the relevant year, to the highest slab of income in the case of an association of persons. ..... under the proposed amendment, the income received by the trustees of a discretionary trust would be chargeable at the rate of income-tax, including surcharge, applicable to the highest slab of income of an association of persons, as specified in the finance act of the relevant assessment year. ..... on the aforesaid facts, the assessee claimed before the ito that it should be taxed at the normal rate as per first proviso to section 164(1) of the income-tax act, 1961 ('the act'). ..... 2) act, 1980. ..... 2) bill, 1980 on 18-6-1980, in the parliament. ..... 2) bill, on 18-6-1980, shri pranlal thakordas trust was dissolved on 1-5-1979 with the result that during the relevant accounting year, there was only one discretionary trust created under the will. .....

Commissioner of Income-tax Vs. Kerala Nut Food Co.,

Court : Kerala

Reported in : [1991]192ITR585(Ker)

..... the claim of the assessees for weighted deduction under section 35b(1) of the act in respect of the commission amount was rejected by the income-tax officer holding that the payment is not expenditure incurred on any of the activities specified in the various sub-clauses of clause (b) of section 35b(1) of the act, the claim of the assessees was accepted by the commissioner of income-tax (appeals) who held that the expenditure had been incurred for the purpose of locating markets outside india for ..... the appellate tribunal was not invited to make a different approach for the two years (1978-79 and 1979-80), the difference brought about by the finance act is not seen mentioned at all and the appellate tribunal had no occasion to consider the same in its appellate order ; nor was any such distinction for the two years (1978-79 and 1979-80) pointed out, ..... section 35b(1)(a) and section 35b(1)(b) of the act were inserted by the finance act, 1968, with effect from april 1, 1968. ..... for the assessment years 1978-79 and 1979-80, the provisions introduced by the finance act of 1978 and deleted with effect from april 1, 1980, will have their impact and a different look with regard to the provisions may be possible. ..... section 35b(1)(b)(iii) was amended by the finance act, 1970. ..... the finance act, 1978, made certain amendments with effect from april 1, 1978, and it was later omitted with effect from april 1, 1980. .....

income-tax Officer Vs. Oceanic Products Exporting Co.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1988)24ITD79(Coch.)

..... apply his mind as to the requirement of an agreement concluded prior to 1-12-1973 for the purchase of the freezer plant so as to be eligible for development rebate for the assessment year 1975-76 in terms of section 16(c) of the finance act, 1974.jurisdiction of the income-tax officer to reassess income arises if he has in consequence of information in his possession reason to believe that ..... in the words of the ito "later on it was found that the freezing plant was installed on 27-3-1975 only and that according to section 16(c) of the finance act, 1974 development rebate on machinery and plant installed after 31-5-1974 but before 1-6-1975 is admissible only if the assessee had either purchased or entered into contract for the purchase of machinery ..... the ito by his letter dated 28-6-1978 brought to the notice of the assessee the provisions of section 16 of the finance act, 1974 and requested the assessee to produce the agreement said to have been entered with the supplier in november 1973 referred to ..... letter dated 16-9-1976, assessees letter dated 8-11-1976, itos letter dated 24-11-1976, notes dated 17-11-1977 made by the ito on which lines the assessment was made on 9-1-1978, reasons recorded on 25-3-1980 for reopening under section 147(b) and letter dated 28-6-1978 from the ito to the assessee. ..... under section 147(b) and issued notice under section 148 on 25-3-1980. ..... reasons on 25-3-1980 for reopening the assessment under section 147(b). ..... section 148 by issuing a notice on 25.3.1980. .....

Senairam Doongarmal Agency (P.) Ltd. and Others Vs. K.E. Johnson and O ...

Court : Guwahati

..... . he further contended that if the policy of the whole act is prevention of evasion, then both sections 37(1) and 37(2) apply in the same field and serve the same purpose, namely the prevention of evasion.dr.paul contended in reply that the preamble of the finance act of 1956, which introduced section 37(2) by way of an amendment, in the income-tax act, disclosed the policy, namely, the giving effect to the finance proposals of the central government ..... never concealed any book or document in all the proceedings prior to 1960-61 and paid all their tax dues up to that year and against whom there was no proceeding for any escaped assessment under section 34 of the income-tax act, should turn overnight into such a tax evaders as to deserve drastic action under section 37(2) of the income-tax act.it is true that the income-tax authorities have a duty to collect tax for the public exchequer but at the same time they have an equally important duty to ..... court under the code of civil procedure, 1980 (v of 1980), when trying a suit in respect of the following matters, namely :(a) enforcing the attendance of any person and examining him on oath or affirmation;(b) compelling the production of documents; and(c) issuing commissions for the examination of witnesses;and any proceeding before an income-tax officer, appellate assistant commissioner, commissioner or appellate tribunal under this chapter shall be deemed to be a judicial proceeding within the meaning of sections 193 and 228 and .....

Khatau Junkar Ltd. and Another Vs. K.S. Pathania and Another

Court : Mumbai

Reported in : 1992(1)BomCR550; (1992)102CTR(Bom)194; [1992]196ITR55(Bom)

..... in this petition, the first petitioner has challenged an intimation sent to it under section 143(1)(a) of the income-tax act demanding income-tax and additional tax under section 143(1a) of the income-tax act for the assessment year 1990-91. 2. ..... but, in any event, in the absence of any specific provision in the income-tax act which disallows a deduction because a specific document specified in that section is not annexed to the return, the income-tax officer cannot, under clause (iii) of the proviso to section 143(1)(a), disallow a claim or a deduction because, in his view, adequate evidence in support of such a claim or deduction is not before him. ..... secondly, as the note to the finance act of 1980 shows, there were hardly any occasions when, on the basis of the return as well as the documents annexed to it, such an adjustment was required to be made. ..... the finance act has omitted the requirement of making adjustments under sub-clauses (ii) and (iii) or clause (b) of section 143(1).' 13. ..... 2) act, 1980, stated, inter alia : 'experience has also shown that while there are a number of cases which require rectification of arithmetical errors in the return..... ..... the explanatory note in respect of the amendment of section 143(1) under the finance (no. ..... this section was again changed with effect from april 1, 1980. ..... after the 1980 amendment, only arithmetical errors could be corrected. .....

Plastiblends India Ltd., a Company Incorporated Under the Companies Ac ...

Court : Mumbai

Reported in : (2009)223CTR(Bom)291; [2009]178TAXMAN397(Bom)

..... this court in the case of grasim industries ltd (cited supra) has observed as under:section 80hh of the income-tax act, 1961 begins with the words 'where the gross total income of an assessee includes any profits and gains derived from an industrial undertaking' the expression 'gross total income' is defined under section 80b(5) to mean the total income computed in accordance with the provisions of the act, before making any deduction under chapter vi-a. ..... he further submits that the right of the assessee to disclaim depreciation is based on the interpretation of provisions of section 32(1) and 43a of the act which continued till the assessment year 2002-2003, when explanation to section 5 was inserted by the finance act 2001 with effect from 1.4.2002 and, therefore, the tribunal erred in holding that omission of section 34(1) by taxation laws (amendment and miscellaneous provisions) act, 1986 changed the legal complexion. ..... 2) act of 1980, has merely made the position which was implicit explicit. ..... 2 act of 1980, parliament had clearly intended to say that what is included in the gross total income is not only a specified category of income but also a particular quantum of income belonging to that specified category. .....