Court : Madhya Pradesh
Reported in : (2008)215CTR(MP)333
..... (supra) has held that proviso appended to section 43b has retrospective operation from the date of enactment of section 43b ibid though inserted in the section at a later date then its omission by finance act, 2003, too will have retrospective effect, i.e. ..... 1st april, 2004 by finance act, 2003, but the said omission will have its retrospective effect from the date of insertion of section 43b ibid as has been interpreted by the supreme court in allied motors (p) ltd. v. ..... apply in relation to any sum referred to in clause (a) or clause (c) or clause (d) or clause (e) or clause (f) which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return:provided further that no deduction ..... it was then amended on 1st april, 1989 and then omitted by finance act, 2003 w.e.f. ..... the special leave petition from this decision of the patna high court was dismissed [see (1991) 191 itr 8]. ..... union of india : [1991]189itr70(patna) . ..... sri jagannath steel corporation : [1991]191itr676(cal) , has taken a similar view holding that the statutory liability for sales-tax actually discharged after the expiry of the accounting year in compliance with the relevant statute is entitled to deduction under section 43b. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1997]226ITR449(MP)
..... the proviso to this section was inserted by the finance act, 1987, with effect from april 1, ..... section 43b was inserted by the finance act, 1983, with effect from april 1, ..... bhopal, under section 256(2) of the income-tax act, 1961 (for short 'the act'), contain the common question, as extracted below, and categorised by the applicant as one of law, for a direction to the tribunal to state the cases and refer the same for our opinion :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the amended provisions of section 43b were applicable ..... aforesaid question of law is sought to be supplemented and supported by the undernoted three common grounds contained in these applications :'(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from april 1, 1988, in section 43b of the income-tax act by exceeding its jurisdiction in reading more than what parliament has expressly provided. ..... face of the view we take and in the light of the decisions, cited in paras 14 and 16 above (see above ) with which we respectfully agree, sanghi motors' case [1991] 187 itr 703, dismissed in limine, does not tilt the balance in favour of the revenue. ..... sri jagannath steel corporation : [1991]191itr676(cal) , cit v ..... union of india [1991] 187 itr 703, in support of his ..... union of india : [1991]189itr70(patna) , and thus affirmed the orders passed by the commissioner of income-tax (appeals .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1996)135CTR(MP)70; [1996]220ITR517(MP); 1996(0)MPLJ885
..... the proviso to this section was inserted by the finance act, 1987, with effect from april 1, ..... section 43b was inserted by the finance act, 1983, with effect from april 1, ..... of income-tax, bhopal, presented under section 256(2) of the income-tax act, 1961, and contain the under noted question, categorised as one of law, for direction to the tribunal to state the case and refer the same for our opinion :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the amended provisions of section 43b were applicable to the assessment year ..... question of law is sought to be supplemented and supported by the undernoted three common grounds contained in these applications :'(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from april 1, 1988, in section 43b of the income-tax act by exceeding its jurisdiction in reading more than what parliament has expressly provided. ..... the face of the view we take and in the light of the decisions, cited in paras 14 and 16 above (see pages 521 and 522), with which we respectfully agree, sanghi motors' case [1991] 187 itr 703, dismissed in limine, does not tilt the balance in favour of the revenue. ..... sri jagannath steel corporation : [1991]191itr676(cal) ; cit v ..... union of india [1991] 187 itr 703 in support of his contention ..... union of india : [1991]189itr70(patna) , and thus affirmed the orders passed by the commissioner of income-tax (appeals .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)205CTR(MP)396(1); [2006]287ITR112(MP)
..... 14th of august, 1991 of the board of directors (sic-cbdt), in which the scope and effect of the amendments in section 271b by the finance act, 1995, w.e.f. ..... he submitted that the change in section 44ab casting the obligation on the assessee to 'furnish' the report of the audit by the specified date was brought in by the finance act, 1995 w.e.f. ..... we find that the appellant had not raised the contention before the tribunal that the amendment to section 44ab requiring the assessee with a business turnover of more than rs. ..... moreover, it will appear from the findings of the tribunal quoted above that the whole approach of the tribunal was as if penalty has to be imposed for non-compliance of the provisions of section 44ab of the act, unless the assessee shows that some good reason as to why such penalty should not be imposed. ..... he further submitted that in case the court holds that the amendment to section 44ab that in case the turnover of the assessee exceeds rs. ..... chaphekar that amendment to section 44ab of the act casting an obligation on an assessee having turnover of more than rs. ..... sheet and the p&l; a/c of the company had to be sent to the two directors at biora for signature, the tribunal was required to apply its mind to the aforesaid explanation given by the appellant consistently with the requirement of section 215 of the companies act, and thereafter record its finding whether the explanation was bona fide or not.11. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)205CTR(MP)396
..... 117 dated 14-8-1991 of the board of directors, in which the scope and effect of the amendments in section 271b by the finance act, 1995, with effect from 1-7-1995 have been explained. ..... he submitted that the change in section 44ab casting the obligation on the assessee to furnish the report of the audit by the specified date was brought in by the finance act, 1995 with effect from 1-7-1995 and the said change of the law would not be applicable to the assessment year 1995-96. ..... . we find that the appellant had not raised the contention before the tribunal that the amendment to section 44ab requiring the assessee with a business turnover of more than 40 lakhs to furnish a report of audit of its accounts by the specified date came into force on 1-7-1995 and was not applicable to the assessment year 1995-96 ..... appellant disclosed that its contract receipts exceeded rs.40 lakhs, during the previous year, relevant to the assessment year 1995-96, but the appellant had failed to furnish by 30-11-1995, a report of audit of the accounts, as required under section 44ab of the act and accordingly the assessing officer served show-cause notices dated 30-91996 and 28-2-1997, on the appellant to show-cause as to why penalty under ..... chaphekar that amendment to section 44ab of the act casting an obligation on an assessee having turnover of more than rs. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1997]226ITR445(MP)
..... section 43b was amended by the finance act ..... is sought to be supplemented and supported by the undernoted three grounds contained in the applications :(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from april 1, 1988, in section 43b of the income-tax act by exceeding its jurisdiction in reading more than what parliament has expressly provided. ..... income-tax, bhopal, presented under section 256(2) of the income-tax act, 1961, and contain the undernoted question, categorised as one of law, for a direction to the tribunal to state the case and refer the question for our opinion :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the amended provisions of section 43b were applicable to the assessment ..... hold that the tribunal rightly treated the first proviso to section 43b, as amended, as retrospective in operation and correctly extended the benefit ..... year 1984-85 when the said amendment was effective ..... union of india : [1991]189itr70(patna) , and thus affirmed the order of the commissioner of .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2005)195CTR(MP)210; [2005]278ITR122(MP)
..... to clarify this point, the finance act, 1990, has amended the said section to provide that the purchase price would mean any amount (by whatever name called) paid or payable by the buyer to obtain the goods referred to in that section, except the bid amount in ..... (4) the finance act, 1990, has further amended section 44ac so as to include a 'cooperative society' also within the meaning of the term 'seller ..... filed on a floppy, diskette, magnetic cartridge tape, cd-rom or any other computer readable media as may be specified by the board (hereinafter, referred to as the computer media) shall be deemed to be a return for the purposes of sub-section (5a) and the rules made thereunder and shall be admissible in any proceedings thereunder, without further proof of production of the original as evidence of any contents of the original or of any fact stated therein. ..... conditions subject to which such certificate may be granted and providing for all other matters connected therewith.explanation : for the purposes of this section--(a) 'buyer' means a person who obtains in any sale, by way of auction, tender or any other mode, goods of the nature specified in the table in sub-section (1) or the right to receive any such goods but does not include :(i) a public sector company,(ii) a buyer in the further sale ..... 1991-92 and will, accordingly, apply to collections made under section 206c during the ..... 1991-92, and, therefore, will be applicable to the collections under section 206c made during the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1996)134CTR(MP)100
..... this section was inserted by the finance act, 1987 ..... by the finance act, 1983 ..... the core question is whether tribunal rightly applied the amended provision of the aforesaid section to the assessment years prior to 1st april, 1988 the answer depends on as to whether the amendment is declaratory of pre-existing law or it affected vested rights of the parties in case of former, it can be deemed to be retrospective and in case of latter, it has to ..... 35 of the indian it act, which was enacted by the income-tax (amendment) act, 1953, was not declaratory of pre-existing law, and as it clearly affected vested rights which had accrued to the assessee, must be deemed to have come into force ..... the it act, 1961 (for short the act) contain the common question, as extracted below, and categorised by the applicant as one of law, for direction to the tribunal to state the cases and refer the same for our opinion :'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding that the amended provisions of ..... the tribunal, however, held that the amendment was declaratory in nature and was available ..... law is sought to be supplemented and supported by the undernoted three common grounds contained in these applications :'(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from 1st april, 1983 in s. ..... union of india : [1991]189itr70(patna) and thus affirmed the orders passed ..... : [1991]191itr676(cal) ..... (1991) 187 itr 703 in support .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)204CTR(MP)555
..... in any other provisions of any law for the time being in force, such appeal or reference or reply shall be deemed to have been withdrawn on the day on which the order referred to in sub-section (2) is passed :provided that where the declarant has filed a writ petition or appeal or reference before any high court or the supreme court against any order in respect of the tax arrear, the declarant shall ..... 2006) 204 ctr (mp) 549) holding that the aforesaid order dated 16-1-2004 passed by the tribunal was outside the scope and purview of section 254(2) of the act which was confined only to rectification of any mistake apparent from the record and have set aside the said order dated 16-1-2004 of the ..... under section 254(2) of the act for correction of the said order dated 26-11-2001 of the tribunal and the ground taken in the said application filed by the assessee was that under sub-section (4) of section 90 of the finance (no. ..... time and manner of payment of tax arrear(1) within sixty days from the date of receipt of the declaration under section 88, the designated authority shall, by order, determine the amount payable by the declarant in accordance with the provisions of this scheme and grant a certificate in such form as may be prescribed to ..... indirect tax enactment under which the proceedings against the declarant are or were pending shall be deemed to have been revived :provided further that the designated authority may amend the certificate for reasons to be recorded in writing. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1988]173ITR126(MP)
..... assessment years 1964-65 and 1965-66, respectively, were allowable revenue deductions ?at the instance of the commissioner of income-tax : (4) whether, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(i) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amounts representing the drawback of customs duty, refund of excise duty and premium gain on value of yarn entitlement ? ..... our answer to the aforesaid two questions is that, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(i) and (ii) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amount representing the drawback of customs duty and the refund of excise duty but not the amount representing the premium ..... the income-tax officer also rejected the claim of the assessee that the amount of rebate allowable under section 2(5)(a)(i) and (ii) of the finance act in force, should be calculated by including in the turnover the amounts representing drawback of customs duty, refund of excise duty and premium gain on the value ..... (5) whether, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(ii) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amounts representing the drawback of customs duty, refund of excise duty and premium gain on value of .....
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