Judgment Search Results Home > Cases Phrase: finance no 2 act 1980 section 2 income tax Sorted by: recent Court: delhi Page 9 of about 834 results (0.095 seconds)

Atlas Shoe Company Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1983)6ITD188(Delhi)

..... in the present case the finance act of 1980 was passed with retrospective effect from 1-4-1972 and in view of the incorporation of section 80j (1a) the present case became a case of mistake apparent from the record in the background of the amending act.we hold likewise.7. ..... one where the order of rectification has been made prior to the aforesaid passing of the finance act, 1980. ..... as we have brought out above, the assessment orders were passed long before the finance act of 1980. ..... (sc), the amendment had already been promulgated when the income-tax officer sought to rectify under section 35 of the 1922 act. ..... 2) act, 1980, sub-section (1a) was added to section 80j with ..... he, accordingly, issued show cause notices to the assessee as to why the assessments of the assessee for the years under consideration be not rectified under section 154 of the act so as to exclude from the capital computation of the assessee for each of the years under consideration the respective amounts of the borrowed capital of the assessee ..... itr 149 (sc) the amending act with retrospective effect was also in existence at the time when the income-tax officer proceeded to rectify the order and could determine whether the records disclosed an apparent mistake in the background of the amended act. ..... industrial undertaking the ito for each of the years under consideration allowed deduction to the assessee under section 80j of the income-tax act, 1961 ('the act') of rs. ..... support the view taken by the tax authorities.6. .....

Ferro Alloys Corporation Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1983)6ITD521(Delhi)

..... 2) act, 1980, insofar as the same purports to amend section 80j of the income-tax act with effect from 1st april, 1972, and from completing the said appeal and/or the assessment proceedings on any basis other than by taking into account borrowed capital in computing the 'capital employed' for the purpose of section 80j of the act and restraining the 1st respondent and 2nd respondent from re-opening, rectifying or revising any of the completed ..... 2) act, 1980, insofar as the same purports to amend section 80j of the income-tax act with retrospective effect from 1st april, 1972; (b) ..... shri wazir singh, the standing counsel for the revenue, contended that the view taken by the tribunal is erroneous and the passage in kanga and palkhivala's law and practice on income-tax quoted by it in its order does not support the view taken by it and on the other hand, it supports the stand of the revenue.according to shri wazir singh, the revenue cannot take a point ..... read as follows: (a) to stay the operation of and/or restrain the respondent from taking any steps and/or giving effect to the provisions of section 17 of the finance (no. ..... in hand and in current account on the basis of gross fixed assets of ferro chrome plant to the total gross fixed assets of the company.the commissioner (appeals) held that in view of the amendment to section 80j by the finance (no. ..... for the assessment year 1975-76 from acting in pursuant to or from giving effect to the provisions of section 17 of the finance (no. .....

Commissioner of Wealth-tax Vs. Ram Pershad

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1984)7ITD656(Delhi)

..... 205, 206 and 207 (delhi) of 1977-78 in relation to the assessment years 1973-74, 1974-75 and 1975-76, held that although the provisions of section 7(4) of the act was brought on the statute book by the finance act, 1976, with effect from 1-4-1976, it would be a fair position if the value of the property, the subject-matter of appeals, for the valuation dates 31-3-1973, 31-3-1974 and 31-3-1975 be adopted, as for the valuation date 31-3-1971 ..... court against the decision of the tribunal and following question was referred to the hon'ble high court : whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in holding that rules 1c and 1d introduced by the wealth-tax (amendment) rules, 1967, by notification dated 6-10-1967, do not have any retrospective effect and could not be applied for the valuation of the unquoted shares for the assessment ..... by the taxation laws (amendment) act, 1972, sub-section (3) of section 7 has been inserted with effect from 1-1-1973, while, under the finance act, 1976, sub-section (4) comes into effect from 1-4-1976. 4. ..... mathurdas govinddas air 1980 sc 1334 and air 1981 sc 998 (sic), has also been relied upon. ..... dharam dev air 1980 sc 1654, bal dosabi v. ..... ochhavlal laljibhai dharia [1980] 125 itr 301, 320 (guj. ..... mahadevia [1980] 122 itr 38. ..... ) (fb), 1980 excise law times ,521, 535 para 46 has also been pressed into service for the assessee. ..... 1, 1980 edn., p. .....

Bimladevi Vs. Union of India and anr.

Court : Delhi

Reported in : AIR1983Delhi189

..... before the reserve bank authorities the petitioner represented that she was an income-tax assessed and that she had been keeping the high denomination notes with herself for convenience and safe ..... (3) any person aggrieved by the refusal of the reserve bank to pay the value of the notes under sub-section (2) may prefer an appeal to the central government within fourteen days of the communication of such refusal to him'.a (4) the first contention raised by shri bobde was that, notwithstanding the provisions of the demonetisation act, the holders of the high denomination notes were entitled to obtain exchange value of those notes from the reserve bank of ..... the object is clearly specified in the preamble of the act which read as follows :- 'whereasthe availability of high denomination bank notes facililites the illicit transfer of money for financing transactions which are harmful to the national economy or which arc for illegal purpose and it is thereforee necessary in the public interest to demonetise high denomination bank ..... to 1012 of 1980 and 1141 and 1669 of 1979 wherein the validity of some of the provisions of the high denomination bank notes (demonetisation act') has been challenged ..... 1009, 1010 and 1011 of 1980 : (29) smt.sushmavinod kumar, petitioner in ..... by order dated 14th april, 1980 the said appeal was dismissed. ..... 1012 of 1980 according to the petition, on the day when the ordinance was promulgated on 16th january, 1978 the petitioner was in nepal where she was visiting her .....

Parmatma Saran (Huf) Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1984)7ITD630(Delhi)

..... in view of the new provisions of the income-tax act/wealth-tax act in this regard, contention of the learned counsel that by amendment of section 28 these new provisions have been given effect from 1-4-1980 and, therefore, are applicable to the assessment year 1980-81 and onwards and, thus, not applicable for the assessment ..... for this purpose, the expression 'partial partition' will have the same meaning as in clause (b) of the explanation below section 171 of the income-tax act, that is to say, 'partial partition', will mean a partition which is partial as regards the persons constituting the hindu undivided family or the properties belonging to ..... act, 1980, in the act was brought in the statute book with a specific purpose as enumerated in the memorandum explaining the provisions in the finance ..... whether section 20a of the wealth-tax act, 1957 ('the act'), which had been inserted by the finance (no. ..... in appeal before the aac who, however, rejected the claim of the assessee as follows : this clause also envisages that any finding recorded under sub-section (3) to that effect (regarding partial partition) whether before or after 18-6-1980, being the date of introduction of the finance (no. ..... claim of the assessee on the ground that according to the new provisions of section 171(9) of the income-tax act, 1961 ('the 1961 act') inserted by the finance (no. ..... submissions, we are of the view that the amended section 20a inserted by the finance (no. ..... finance ..... the finance ..... by the finance (no. .....

income-tax Officer Vs. R.M. Nayar

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1982)1ITD841(Delhi)

..... 24,244 brought to tax by the ito, on the ground that this amount was not exempt under section 10(14) of the income-tax act, 1961 ("the act"), was deleted.2. ..... 244 does not represent income which can be brought to tax under any head under the income-tax act.10. ..... ), wherein it has been held that the quality and nature of a receipt for income-tax purposes were fixed once and for all, when the subject of the receipt was ..... learned counsel for the assessee is correct in his submission that the quality and nature of a receipt for income-tax purposes is fixed once and for all, when it is received. ..... are unable to accept this contention because the aac himself has held as under: since it was not a regular allowance, its nature was not income and the provisions of section 10(14) of the act are not attracted.11. ..... the money so reimbursed has been duly accounted for in their income-tax returns. 3. ..... order to determine whether the disputed amount represents income taxable under the head "salaries", we have to refer to the provisions of section 17 of the act. ..... the explanation to section 10(74) was inserted retrospectively by the finance act, 1975. ..... gujral [1980] 125 itr 655( ..... mittal [1980] 121 itr 503 (p. & h ..... pgnatale [1980] 124 itr 391 at page 402 had enunciated the principle that the word "perquisite" would not apply to a mere reimbursement of necessary disbursement ..... 928 of 1980-81 of the aac whereby a sum of rs ..... this appeal filed by the revenue is directed against the order dated 21-7-1980 in appeal no. .....

Commissioner of Income-tax Delhi-iv Vs. Sat Parkash Agarwal

Court : Delhi

Reported in : [1983]140ITR880(Delhi)

..... as follows: '(1) whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the provisions of section 68 of the income-tax act, 1961, were not attracted in regard to unexplained cash credits of rs. ..... to an admission made by the assessed in the course of the assessment proceedings that neither his wife nor any of his minor children had any apparent source of income except interest income shown in their names in the books of the firm and concluded that the money actually belonged to the assessed. ..... act of 1965 it was at all open to the department to examine the genuineness of the deposits afresh in the case of the present assessed though he was not a declarant under the finance act ..... to explain the nature and source of the above credits the assays relied upon the disclosures that had been made under the finance act of 1965. ..... said finance act. 3 ..... as required by the finance act, above refereed to, these declarations were accepted by the cwt and taxes were paid in accordance therewith as ..... whether these declarations represent the truth and the amounts represent the undisclosed income of those persons or whether, as contended for by the department, these disclosures were only made by the assessed in the names of his wife and the minor children, the clear indisputable fact is ..... unable to explain satisfactorily the nature and source of that credit, it could be taxed as the undisclosed income of the assessed for the assessment year 1967-68. ..... : [1980]125itr18( .....

Mahima Dewan vs.state(govt of Nct of Delhi)

Court : Delhi

..... drawn are cogently and firmly established and the circumstances have a definite tendency to unerringly point towards the appellants as the actual perpetrators of the crime, who had entered into a criminal conspiracy as per section 120-b to commit this gruesome murder; the circumstances, taken cumulatively, form a chain so complete that there is no escape from the conclusion that within all human probability the crime was committed by ..... the learned additional sessions judge, north west, rohini courts, delhi in sessions case no.52223/2016, in fir no.180/2012, registered under sections 302/201/364/120b of the indian penal code (hereinafter referred to as ipc ) read with sections of the arms act at police station maurya enclave, whereby the learned sessions judge found the appellants guilty and sentenced them as follows: view all keeping facts and ..... with a view to find out as to whether appellant (a-6) was a member of a criminal conspiracy which was hatched on 01.09.1991 to kill siva on 05.09.1991 or in other words whether there is any evidence to sustain appellant's conviction under section 120-b, indian penal code and, if so, whether the evidence adduced by the prosecution is in conformity with the parameters laid down by this court to prove the guilt of the appellant beyond reasonable doubt. ..... matters page 81 of 159 15.03.2011 i purchased a maruti swift car bearing no.dl-2can-3335 which was financed by hdfc bank. ..... ) reported in 1980 (2) scc665 rameshwar ..... 1980) 2 scc465:1980 ..... in 1980 (2) .....

Jatin vs.state

Court : Delhi

..... drawn are cogently and firmly established and the circumstances have a definite tendency to unerringly point towards the appellants as the actual perpetrators of the crime, who had entered into a criminal conspiracy as per section 120-b to commit this gruesome murder; the circumstances, taken cumulatively, form a chain so complete that there is no escape from the conclusion that within all human probability the crime was committed by ..... the learned additional sessions judge, north west, rohini courts, delhi in sessions case no.52223/2016, in fir no.180/2012, registered under sections 302/201/364/120b of the indian penal code (hereinafter referred to as ipc ) read with sections of the arms act at police station maurya enclave, whereby the learned sessions judge found the appellants guilty and sentenced them as follows: view all keeping facts and ..... with a view to find out as to whether appellant (a-6) was a member of a criminal conspiracy which was hatched on 01.09.1991 to kill siva on 05.09.1991 or in other words whether there is any evidence to sustain appellant's conviction under section 120-b, indian penal code and, if so, whether the evidence adduced by the prosecution is in conformity with the parameters laid down by this court to prove the guilt of the appellant beyond reasonable doubt. ..... matters page 81 of 159 15.03.2011 i purchased a maruti swift car bearing no.dl-2can-3335 which was financed by hdfc bank. ..... ) reported in 1980 (2) scc665 rameshwar ..... 1980) 2 scc465:1980 ..... in 1980 (2) .....

Gaurav and Ors. Vs.union of India and Anr.

Court : Delhi

..... in that process also discussed directive 32 dated 18th september, 2014, which was issued under rule 28 of the railway protection force rules, 1987 ( rpf rules ) read with section 8 of the railway protection force act, 1957 ( rpf act ), and the revised directive dated 28th december, 2017.3. ..... a reference is made to section 8 (1) of the rpf act which states that the command, supervision and administration of the force shall vest in the dg and he is empowered to ..... section 21 of the rpf act empowers the central government to make rules for carrying out the purposes of the act ..... section 15 (1) of the rpf act reads as under: every member of the force shall, for the purposes of this act, be considered to be always on duty, and shall, at any ..... section 8 (1) of the railway protection force act ( rpf act ) states that the command, supervision and administration of rpf shall vest in the director general ( dg ) and he is empowered ..... directive 32 itself is concerned, it has been issued by the dg pursuant to the powers conferred on him by rule 28 of the rpf rules read with section 8 (1) of the rpf act. ..... as was noticed earlier, there was no provision in the rpf act which states that on the completion of a number of years in the rpsf, a constable or hc as the case may be, would as a matter of right be eligible for transfer ..... the rpf rules empowers the dg of the rpf to issue directives relating to the enforcement and furtherance of the provisions of the rpf act and the rpf rules as he may think necessary. .....