Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)292ITR268(Chd.)
..... ) is directed to recomputed the deduction on the basis of the order of the tribunal, however, at the time of giving effect to this order, applicability of provisions of section 80aa which had been introduced through direct taxes finance (pb) act 1980 was lost sight of. ..... to the assessment year in question without considering the effect of the amendment operative from 1st april, 1968, and in thus holding that the assessee would be entitled to the deduction under section 80m on the gross dividend before deduction of the proportionate management expenses? ..... to the assessment year in question without considering the effect of the amendment operative from 1st april, 1968, and in thus holding that the assessee would be entitled to the deduction under section 80m on the gross dividend before deduction of the proportionate management expenses. ..... the question was raised in a writ challenging amendment introduced in the shape of section 80aa through finance (no. ..... to the assessment year in question without considering the effect of the amendment operative from 1st april, 1968, and in thus holding that the assessee would be entitled to the deduction under section 80m on the gross dividend before deduction of the proportionate management expenses? ..... union of india (supra) and also contrary to the amendment made by finance (no. ..... the aforesaid decision was challenged by the revenue on the ground that above view could not be taken in the light of amendment in the act made w.e.f 1st april, 1968. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1989)31ITD535(Chd.)
..... in section 139, the legislature inserted, by finance (no.2) act, 1980 w.e.f. ..... section 139(9) was brought on the statute book by finance act,1980 w.e.f ..... of that by completing the assessment ex part6 long after the filing of the return on 28-6-1979 without raising any objection about its validity, the revenue by letter issued in january 1985 was denying the assessee an opportunity of amending the return to make it in accordance with law as desired.thereafter, certain authorities were cited to convince the assessing authority that it is merely a procedural defect as, in substance, the return was the same and only the signature ..... since the returns were signed by the secretary of the company originally, those returns were invalid.however, it was not controverted that prior to the amendment of section 140(c) by the taxation laws(amendment) act, 1975, w.e.f. ..... we find that not only the legislature inserted clause(c) substitution for clauses (c) & (d) of section 140 by the taxation laws (amendment) act, 1975 but the legislature also inserted by the same act w.e.f. ..... section 140(c) was brought on the statute book by substitution for clauses (c) and (d) by taxation laws (amendment) act, 1975 w.e.f. 1-4-76 ..... 1-9-1980 wherein the income-tax officer could call upon the assessee to amend the return but this provision was also not available to the assessee for 1979-80 ..... year 1979-80, return filed on 28-6-79 was non est in law because it contained basic infirmity and it could not be amended or ratified. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1986)15ITD227(Chd.)
..... section 37(3a) were introduced for the first time in the finance act, 1978, and were applicable for the assessment years 1979-80 and 1980 ..... in which two grounds are raised first being in respect of action of the commissioner (appeals) who reduced the disallowance made by the ito under section 37(3a) of the income-tax act, 1961 ('the act') holding that commission paid by the assessee amounting to rs. ..... even otherwise, for finding out true meaning of the words 'sale promotion' used in section 37(3a), the principles of ejusdem generis would apply, which means, if a general word is added to specific word (advertisement and publicity), the general word wpuld take its ..... sub-section (3a) in its amended form is as under: notwithstanding anything contained in sub-section (1) but without prejudice to the provisions of sub-section (3), where the aggregate expenditure incurred by an assessee on advertisement, publicity and sales promotion in india exceeds forty thousand rupees, so much of such aggregate expenditure as is equal to an amount calculated as provided hereunder shall not be allowed ..... then, in another letter to the ito, it was mentioned that section 37(3a) was introduced in order to curb lavish expenditure on advertisement and publicity in ..... ' have a wide amplitude, expenditure incurred by taxpayers on fashion shows, beauty contests, consumer contests, consumer gift offers, and free samples or gifts will fall within the ambit of new sub-section (3a) of section 37 of the income-tax act. (p. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (1983)3ITD542(Chd.)
..... consideration the provisions of section 64(1)(i), read with explanation 2 to section 64(2), inserted by the finance act, 1979 with effect from 1-4-1980. ..... finance act, 1979 added explanation 2 to section 64(2) with effect from 1-4-1980 ..... the question may, however, arise whether the explanation added by the finance act, 1979 with effect from 1-4-1980 can be said to be applicable to the assessment year 1978-79 which ..... decided by the learned commissioner by reference to the speech of the finance minister made on 28-2-1975 when he was explaining the provisions contained in the amendments in the finance bill, 1979. ..... the word 'income' taken as positive income would necessitate the loss to be excluded at the time when the assessment may have to be revised in order to give effect to the order of appellate authorities under section 250/254 read with section 155(1) of the act.it, therefore, becomes clear that the word 'income' in section 64(1)(i) has to be taken as connoting income as well as loss.7. ..... substituted by the taxation laws (amendment) act, 1975, with effect from 1-4-1975, provides that in computing the total income of any individual, there shall be included all such income as arises directly or indirectly (i) to the spouse of such individual from the membership of the spouse in a firm carrying on a business in which such individual is a partner.explanation 1 to sub-section (1) of section 64 provides that for the purposes of clause (i), the individual, in computing whose total income .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)107ITD343(Chd.)
..... nature of the amendment made by the finance act, 1987, it has been submitted before us that the proviso which is inserted by the amending finance act of 1987, should be given retrospective effect and be read as forming a part of section 43b from its ..... on the ground that he has actually made a payment towards such liability in that year.there was an amendment in section 43b by the finance act, 1987 which may not be relevant for the purpose of present controversy. ..... and the amendment is also not relevant for the purpose of the present controversy.finance act, 1989 made yet another amendment in section 43b by virtue of which 2nd proviso to section 43b was ..... payable" shall mean any sum, liability for which has been incurred by the taxpayer during the previous year irrespective of the date by which such sum is statutorily payable.finance act, 1990 made yet another amendment in section 43b by virtue of which clause (d) of section 43b was amended. ..... the amendment which was made by the finance act of 1987 in section 43b by inserting, inter alia, the first proviso, as remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee and which made the provision unworkable or ..... the amendment which was made by the finance act of 1987 in section 43b by inserting, inter alia, the first proviso, was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee and which made the provision unworkable or .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2006)100ITD365(Chd.)
..... (iii) the provisions of section 32(2) as amended by finance (no. ..... (v) there is nothing to show in the amendment made by the finance act, 2001 which are applicable for the assessment year 2002-03 that those provisions are not to apply in respect of depreciation relating to the assessment years 1997-98 to 2001-02. ..... (iv) in fact the intent and purpose of the amendment made in 1996 has been clarified by the finance minister on the floor of the parliament as under: clause 11 of the bill seeks to amend section 32 of the income-tax act, 1961 relating to depreciation. ..... law was amended with effect from assessment year 1997-98 in the intervening period, there was wide spread apprehension about the treatment of unabsorbed depreciation as on 1-4-1997 and limitation period of 8 years and to allay the fear, the then finance minister made a speech in the parliament which were although already mentioned in the assessee submissions is repeated here at the cost of the repetition: clause 11 of the bill seeks to amend section 32 of the income-tax act, 1961 relating ..... thus as used by the legislatures, amendment and repeal may differ in kind - addition as opposed to withdrawal or only in degree -abrogation of part of a section as opposed to abrogation of a whole section or act: or more commonly, in both kind and degree - addition of a provision to a section to replace a provision being abrogated as opposed by abrogation of a whole section or act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)278ITR254(Chd.)
..... are of the view that the assessee was liable to pay advance tax.however, section 115 ja had been brought on statue by the finance (no.2) act, 1996 w.e.f. ..... opinion, all other provisions of it act including the provisions relating to payment of advance tax are applicable even when the income is computed under section 115ja because section 115ja has a specific provision in the shape of sub-section (4) which reads as under: "save as otherwise provided in this section, all other provisions of this act shall apply to every assessee, being a company, mentioned in this section. ..... it was stated that section 115ja contains specific provisions relating to applicability of other provisions of it act and as per section 208 of it act, the assessee was liable to pay ..... the assessee stated that the issue as to whether advance tax was to be payable even if the income was to be determined under section 115ja, was a debatable issue and moreover the provisions of section 115ja were brought on statute by the finance (no. ..... the above report of the assessing officer to the assessee who stated that the provisions of section 115ja were brought on the statute by finance (no. ..... of the case in brief are that the income of the assessee was computed under section 115ja of it act and the assessing officer charged interest under section 234c amounting to rs. ..... revenue vehemently argued that the assesses was liable to pay advance tax because it was immaterial that the income was determined under section 115ja of it act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2005)95TTJ(Chd.)404
..... section 32 was amended by the finance act, 2001. ..... the ao.2.7 we have considered these submissions of the assessee but the fact remains that in case the assessee is legally entitled to claim depreciation in the assessment framed by the ao on the directions of the cit(a) issued under section 263 of the act, only then the same can be allowed to the assessee irrespective of the fact whether the ao has rightly allowed the part depreciation on the basis of the revised computation filed by the assessee during the ..... ii and for the first time this claim was filed before the ao, while he was passing a fresh assessment order in the light of the directions of the cit(a) issued under section 263 of the act.2.5 the first contention raised by the learned authorised representative for the assessee before us was that the principles of natural justice have not been complied with by the ao while reframing the set aside assessment. ..... it also appears that no appeal has been filed by the assessee against the original assessment and against the order passed by the ao under section 154 of the act.2.1 aggrieved with the order of the ao, the assessee went in appeal before the cit(a) and submitted before him a copy of the letter dt.20th sept. ..... explanation 5 inserted by the finance act, 2001, is also of no help to the appellant. ..... 5 inserted by the finance act, 2001, as the same should be deemed to have taken effect from the retrospective effect and so even during the assessment proceedings for the asst. yr. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2004)88TTJ(Chd.)450
..... force" stated in section 193 is to be found in the charging section 4 read with the finance act of the relevant previous ..... the appellant in view of the fact that in so far as interest on securities is concerned, the finance act, 1986, and finance act, 1987, did not provide for deduction of any surcharge on tax deducted at source in respect of interest ..... substance in the claim made by the assessee, treated the assessee as a defaulter and levied interest under section 201(1a) of the income tax act as per details given below : the assessing officer also imposed penalties in the two years under section 271c of the income tax act which was introduced with effect from 1-4-1989, for failure of the assessee to deduct surcharge as under : ..... is the principal officer does not deduct or after deducting fails to pay the tax as required by or under this act, he or it shall, without prejudice to any other consequences which he or it may incur, be deemed to be an assessee in default in respect of the tax '.provided that no penalty shall be charged under section 221 from such person, principal officer or company unless the assessing officer is satisfied that such person or principal officer or ..... was actually paid, the date of actual payment has to be determined and interest computed from the date of default to the aforesaid date as envisaged under sub-section (1a) of section 201 of the income tax act.the assessing officer has collected material from various recipients regarding surcharge paid by them. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chandigarh
Reported in : (2007)112TTJ(Chd.)94
..... insofar as the plea of the revenue based on the amendment made to section 36(1)(iii) by the finance act, 2003 is concerned we may refer to the decision of our co-ordinate bench in the case of swaraj engines ltd ..... thirdly, the ao noted that the amendment under section 36(1)(iii) made by the finance act, 2003 w.e.f. ..... no doubt in terms of the amendment made by the finance act, 2003 by way of insertion of the proviso, the impugned expenditure is ..... assessment year in question is 2000-01 whereas the amendment has been made by the finance act 2003 w.e.f. ..... on both these aspects, we do not find any justifiable reasons which would disentitle the assessee from the deduction which is otherwise found allowable to it under section 36(1)(iii) of the act.the fact that in the immediately preceding assessment year, the assessee chose not to claim the deduction cannot be understood to hold the issue against the issue (sic-assessee) if otherwise the statutory provisions ..... the relevant assessment years in this regard are 1991-92 and 1995-96.therefore, once it is established that the assessee is entitled to deduction under section 80-1 of the act in the year when the new industrial undertaking was set up it is not thereafter open to the lower authorities to question allowability of deduction in the subsequent assessment ..... , it follows that the position of law prevailing prior to the amendment is to be applied to test efficacy of the stand of the assessee for deduction under section 36(1)(iii) of the act. .....
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