Court : Delhi
Reported in : [2002]254ITR401(Delhi)
1. at the instance of the revenue, the following question has been referred for the opinion of this court under section 256(1) of the income-tax act, 1961 (in short 'the act'), by the income-tax appellate tribunal, delhi bench d (in short 'the tribunal') :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in not directing the income-tax officer to work out the deduction under section 80j in accordance with said section as amended by section 17 of the finance (no. 2) act, 1980 ?'2. the dispute relates to the assessment year 1974-75 and while dealing with the question of deduction in terms of section 80j of the act, the tribunal referred to its earlier decision in the assessed's own case for the assessment year 1973-74 and granted the relief.3. in cit v. metal forging (p.) ltd. (i. t. r. no. 211 of 1983) one of the questions related to the application of section 80j. following the views expressed by the apex court in lohia machines ltd. v. union of india : [1985]152itr308(sc) and in view of the decision of this court, which we have given in i. t. r. no. 211 of 1983, the answer to the question referred is in the negative, in favor of the revenue and against the assessed.
Tag this Judgment!Court : Delhi
..... section 23 of the income tax act, which fell for consideration in the liquidator of mahamudabad properties private the commissioner of income tax, west bengal-ii, calcutta (1980) 3 scc482 was as it stood prior to its amendment by finance act, 2001 with effect from ..... the assessee s contention that since the flats/spaces occupied by it, were for the purposes of its business (the profits of which were chargeable to the income tax under profits and gains of business and profession), no notional annual letting value could be assessed/charged to tax under section 23 of the act, was rejected by the itat, relying on the decision of this court dated 31.10.2012 in the assessee s own case ita no.18/1999 titled cit delhi versus m/s ansal ..... the present appeals by the assessee, under section 260a of the income tax act, 1961 (hereinafter referred to as the act ), arise out of the common order dated 28.03.2017 passed by the income tax appellate tribunal (itat) with respect to the assessment years (ays) 2005-06 and ..... clause 14 seeks to substitute a new section for section 23 ita9312017 & 934/2017 page 6 of 14 of the income tax act relating to determination of annual value of ..... finally, this court notices that the finance act, 2017 has amended section 23 of the act to insert sub-section (5), which provides: (5) where the property consisting of any building or land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of .....
Tag this Judgment!Court : Delhi
..... section 23 of the income tax act, which fell for consideration in the liquidator of mahamudabad properties private the commissioner of income tax, west bengal-ii, calcutta (1980) 3 scc482 was as it stood prior to its amendment by finance act, 2001 with effect from ..... the assessee s contention that since the flats/spaces occupied by it, were for the purposes of its business (the profits of which were chargeable to the income tax under profits and gains of business and profession), no notional annual letting value could be assessed/charged to tax under section 23 of the act, was rejected by the itat, relying on the decision of this court dated 31.10.2012 in the assessee s own case ita no.18/1999 titled cit delhi versus m/s ansal ..... the present appeals by the assessee, under section 260a of the income tax act, 1961 (hereinafter referred to as the act ), arise out of the common order dated 28.03.2017 passed by the income tax appellate tribunal (itat) with respect to the assessment years (ays) 2005-06 and ..... clause 14 seeks to substitute a new section for section 23 ita9312017 & 934/2017 page 6 of 14 of the income tax act relating to determination of annual value of ..... finally, this court notices that the finance act, 2017 has amended section 23 of the act to insert sub-section (5), which provides: (5) where the property consisting of any building or land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of .....
Tag this Judgment!Court : Delhi
..... the context of section 80j and the retrospective amendment made by the finance (no.2) act, 1980 with effect from 1.4.1972, would be out of place in the context of chapter xii b of the income tax act. ..... for consideration was the validity of the retrospective amendment made to section 80j by the finance (no.2) act, 1980, with effect from 1.4.1972. ..... view of the forgoing discussion, we hold that the amendment made to explanation 1 to section 115jb of the income tax act, 1961 by the finance (no.2) act, 2009 by insertion of clause (i) with retrospective effect from 1.4.2001 is not ultra ..... writ petition, the petitioner challenges the retrospectivity of the amendment made to section 115 jb of the income tax act, 1961 by the finance (no.2) act, 2009 by insertion of clause (i) to explanation 1 with retrospective effect ..... what section 80j did, when it was amended by the finance (no.2) act, 1980, with retrospective effect from 1.4.1972, was to withdraw the benefit which had already accrued to the assessee as a vested statutory right and it was this kind of retrospective amendment which sought to ..... the memorandum explaining the provisions in the finance (no.2) bill, 2009 the central board of direct taxes stated as follows: clarification regarding add back of provision for diminution in the value of asset, while computing book profits section 115jb of the income-tax act provides for levy of minimum alternate tax (mat) on the basis of book ..... act passed in 1980, to amend section 35 of the income tax act .....
Tag this Judgment!Court : Delhi
..... with a view to providing suitable statutory safeguard in the income-tax act to prevent taxpayer from taking undue advantage of existing provisions of the act by claiming repeated deductions in respect of the same amount of eligible income, even in cases where it exceeds such eligible profits of an undertaking or a hotel, in built restrictions in section 80hhd and 80 ia have been provided by amending the section, so that such unintended benefits are not passed on to the appellant.3. ..... 2) act, 1980, with effect from april 1, 1981, originally included only section 80j. ..... 2) act, 1980, with effect from april 1, 1981, and by the same finance (no. ..... the court traced the history of various legislative amendments made in the aforesaid provisions following in chapter via of the act and following discussion ensued thereupon:-"sub-section (9) of section 80hh, as it stood prior to insertion of section 80i by the finance (no. ..... section 80i was inserted in its present form by the finance (no. .....
Tag this Judgment!Court : Delhi
Reported in : [2009]180TAXMAN467(Delhi)
..... this petition under article 226 of the constitution of india seeks the issuance of a writ to waive the interest levied under section 220 (2) of the income tax act, 1961 (it act for short) pertaining to three consecutive years in respect of which the original demand had already been paid. ..... . we shall now consider the legal propriety of the impugned order dated 2.8.1995 declining to waive the interest which reads thus:subject :- waiver of interest under section 220(2a) of the income-tax act, 1961 - regarding i am directed to refer to your petition no ..... (2a) in light of the above mentioned facts; and whether interest can be levied without the service of a specific order raising the demand under section 220(2a) of the act together with a separate demand notice under section 156 of the act; and whether the impugned order is liable to be set aside since the assessee was not afforded any opportunity of personal hearing. 3. it has been contended on behalf of the petitioner that inasmuch as interest has been charged ..... . on the other hand, the contention on behalf of the revenue is that section 220(2a), having been introduced into the it act with effect from 1.10.1984, has no bearing or applicability on assessment years 1980-81, 1981-82 and 1982-83 and hence the chief commissioner did not possess the power to reduce or waive interest ..... . rules, 1962, and also call in question the constitutionality of the retrospective amendment made in section 80j, by the finance (no .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
..... atchaiah to contend that under section 4 of income tax act assessing officer has got no option except to assess only the right ..... to contend that where the business is one and diverse activities are pursued and expenditure incurred wholly and exclusively for the purpose of business then irrespective of the fact that income from one or more part of the activities is not liable to income-tax, the entire expenditure incurred by the assessee in connection with the business has to be allowed under section 37 of the act. ..... one, and diverse activities are pursued, if expenditure is incurred wholly and exclusively for the purpose of business, then irrespective of the fact that income from one or more part of the activities is not liable to income-tax, the entire expenditure incurred by the assessee in connection with the business has to be allowed under section 37 of the act. ..... the assessing officer himself has held that assessee is entitled for deduction under section 80-ia as it is earning income from generation of electricity which is one of the eligible activity of business to be entitled for deduction under section 80-ia.under section 80-ia such deduction is not eligible unless an undertaking's or an enterprise's gross total income consists of profits and gains derived from any business referred to in sub-section (4).thus if such profits and gains are not earned from business, undertaking ..... wrongly read the explanatory note to finance act (no. ..... 1980 with regard to the insertion of section .....
Tag this Judgment!Court : Delhi
Reported in : [2001]119TAXMAN707(Delhi)
at the instance of the revenue, following question has been referred for opinion of this court under section 256(1) of the income tax act. 1961 (hereinafter referred to as 'the act') by the tribunal, delhi bench 'd' :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in not directing the income tax officer to out the deduction under section 80j of the income tax act, 1961 in accordance with said section as amended by section 17 of the finance (no. 2) act, 1980 ?'the dispute relates to the assessment year 1974-75 and while dealing with the question of deduction in terms of section 80j of the act, the tribunal referred to its earlier decision in the assessed's own case for the assessment year 1973-74 and granted the relief.2. in cit v. metal forging (p) ltd. (it reference no. 211 of 1983), one of the questions related to application of section 80j. following the view expressed by the apex court in lohia machines ltd. v. union of lndia : [1985]152itr308(sc) and in view of the decision of this court, which we have given in it reference no. 211 of 1983, the answer to the question referred is in the negative, in favor of the revenue and against the assessed.3. reference is disposed of accordingly.
Tag this Judgment!Court : Delhi
Reported in : 1999VAD(Delhi)237; (1999)156CTR(Del)12; 81(1999)DLT178; [1999]239ITR756(Delhi)
..... instance of the revenue, the income tax appellate tribunal (fort short the tribunal) has stated the case and referred the following questions of law under section 256(1) of the income tax act, 1961 (for short the act), for the opinion of ..... 1983 whether directly or in association with any other person, any expenditure (not being in the nature of capital expenditure or personal expenses of the assessee) referred to in clause (b), he shall, subject to the provisions of this section, be allowed a deduction of a sum equal to one and one-third times the amount of such expenditure incurred during the previous year; provided that in respect of the expenditure incurred after the 28th day of february 1973 ..... facts and in the circumstances of the case, the appellate tribunal was justified in law in confirming the order of the cit(a) holding that the assessed was entitled to weighted deduction u/s 35b(1)(b)(viii) of the i.t.act, 1961 in respect of the following expenditures: site expenses amount percentagea) malaysia 1,12,16,647/- 100%b) brtw (libya) 39,60,903/- 100%c) erection sub- 32,36,32,647/- 100%contracts expenses on civil, mechanical& electrical job ( ..... , 1980, issued by the central board of direct taxes (1980) 124 itr 64 explaining the substances of the provisions contained in finance ..... 2) act, 1980, whereby the said explanationn was inserted to modify the provisions relating to the ..... act, 1980 ..... into service the afore-extracted explanationn-2 to section 35b, which was inserted by finance (no. .....
Tag this Judgment!Court : Delhi
Reported in : (1999)65TTJ(Del)1
..... in india, further, it was also being asked (para 2) as to whether any tds returns under section 206 of the income tax act were being filed, and, if yes, where the questionnaire, to submit the least, was a general questionnaire addressed to anpara project seeking details of personnel, having no experience of finance/tax matters entrusted with disbursement of specific amounts to the expatriates employed in india, duly furnished details vide reply ..... that although by inserting an explanationn in section 9(ii) of the income tax act, 1961, with effect from 1st april, 1979 by the finance act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services rendered in india, shall be regarded as income earned in india, yet all kinds of payments arising under a contract of employment are not liable to tax in india. ..... 25-2-1980, and explanationn to section 9(1)(ii) was added thereafter by finance act, ..... on the subject is very clear since after the insertion of explanationn to section 9(1)(ii) by the finance act, 1983, after the judgment of the hon'ble gujarat high court in : [1980]124itr391(guj) . ..... pgnatale : [1980]124itr391(guj) wherein it was held that the amount received outside india as retention remuneration by employees of the french company which had entered into an agreement with an indian company for rendering certain services in europe and in india was not assessable in india under section 9(1)(ii) as salary earned ..... : [1980]121itr531(kar .....
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