Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 Sorted by: old Court: income tax appellate tribunal itat Page 2 of about 1,078 results (0.197 seconds)

Sri Chaitanya Educational Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)106ITD256(Hyd.)

..... the assessee.7.6 in the light of the foregoing discussion, we find that the commissioner has no power to cancel the registration, prior to insertion of sub-section (3) of section 12aa by the finance act, 2004 with effect from 1.10.2004 nor does the said amendment have any retrospective operation and as such the impugned order ..... section 12aa inserted by the finance act, 2004 with effect from 1.10.2004 are merely procedural and come to the rescue of the department in validating the impugned order dated 26.7.2004 by retrospective operation of the amendment; (b)secondly, even prior to insertion of sub-section (3) of section 12aa, whether the power to cancel the registration always existed, though it was specifically so provided by amendment with effect from 1.10.2004 only; 7.3.a interpretation of statutes ..... . cit 271 itr 322 sc, the apex court, examining the retrospective or otherwise nature of the amendment to the provisions of section 80hhc by the finance act, 1991, whereby the benefit of section 80hhc has been extended to a specific kind of mineral, apex court held that every statute is prima facie ..... section 12aa only by insertion of sub-section (3) thereunder with effect from 1.10.2004, and prior to that date orders under section 12aa could be either granting or refusing to grant registration, and it is only against the latter type of orders passed under section 12aa, a first appeal before the tribunal was provided by the statute by the finance act, 1999 with effect from 1.6.1999 .....

V.G. Ramachandran Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2006)100ITD545(Chennai)

..... cannot be changed because of stretching over the period of payment of dues under the scheme.even now, by way of amendment in the provisions of sub-section (10c) of section 10 by the finance act, 2003 with effect from 1-4-2004, the legislature intended to clarify the position that any amount received or receivable by an employee of a company who opts for voluntary retirement scheme, here the receivable means the voluntary retirement scheme compensation ..... it is pertinent to mention here that even while clause (10c) has since been amended by the finance act, 2003, so as to make it applicable: not only to any amount "received" but also to any amount "receivable", the second proviso has not been altered in any manner; and, consequently, ..... the legislature which has amended the proviso to section 10(10c) as, "or receivable" has been inserted with effect from 1-4-2004 by the finance act, 2003. ..... problem, clause (10c) of section 10 has been amended by the finance act, 2003 to provide that any amount not exceeding five lakh rupees received ..... section 10(10c) any amount received or receivable by an employee, he specifically drew our attention to "or receivable" as inserted in sub-section (10c) of section 10, by the finance act, 2003 with effect from 1-4-2004. ..... the memo explaining the provisions of the finance act, 2003 and the cbdt circular cited above was clearly aimed at solving the problem of retired employees that those persons who received the compensation in instalments spread over to .....

Sri V.G. Ramachandiron Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)284ITR53(Chennai)

..... it is pertinent to mention here that even while clause (10c) has since been amended by the finance act, 2003, so as to make it applicable not only to any amount "received" but also to any amount "receivable", the second proviso has not been altered in any manner; and, consequently, the stipulation therein ..... 2004 by the finance act ..... this problem, clause (10c) of section 10 has been amended by the finance act, 2003 to provide that any amount not exceeding five lakh rupees received or ..... , as per section 10(10c) any amount received or receivable by an employee, he specifically drew our attention to "or receivable" as inserted in sub-section (10c) of section 10, by the finance act, 2003 w.e.f 1.4.2004. ..... the memo explaining the provisions of the finance act' 2003 and the cbdt circular cited above was clearly aimed at solving the problem of retired employees that those persons who received the compensation in instalments spread over to many years ..... changed because of stretching over the period of payment of dues under the scheme.even now, by way of amendment in the provisions of sub-section (10c) of section 10 by the finance act, 2003 w.e.f. ..... this amendment will take effect from april 1, 2004, and will, accordingly, apply in relation to the assessment year 2004-2005 and subsequent years.further the memo explaining provisions of finance bill 2003 as reported in 260 itr at page 197 (statutes) explained in clause 6(b) - it is proposed to provide that any amount, not exceeding five lakh rupees, .....

Van Oord Dredging and Marine Vs. Adit, (international

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)297ITR115(Mum.)

..... not considered the amendment made by finance (no.2) act, 2004 which has modified the amendment made by finance act, 2001 retrospectively. ..... departmental representative submitted that there is no reason for admitting these additional grounds of appeal as action of the assessing officer is as per the provision of the act and there is no ambiguity in the language of the provision of section 90 of the act.further the explanation to section 90 inserted by the finance act 2001 with retrospective effect from 1.4.1962 making it clear that charge of tax in respect of foreign company at a higher rate than the rate at which ..... that the provision of section 234 d was inserted by finance act 2003 with prospective effect from 1.6.2003 and was not ..... the assessee itself has made the request for deduction of tax at a lower rate and ultimately entire amount is found chargeable to tax, in absence of payment of advance tax as per provision of the act interest under section234b is chargeable.he submitted that the assessee will get deduction as per provision of section 209(1)(a) to the extent of amount @ 7% of the tds payment and not the full amount of tax ..... the cit(a) in holding that since all payments made to non residents are subject to tax deduction at source under section195 of the act, it is held that the appellant was not liable for advance tax and therefore the interest under section234b is not liable on the ..... the statute book during the relevant period and was inserted by the finance act, 2003 w.e.f. .....

Deputy Commissioner of Vs. Shubham Industies

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2007)104ITD126Luck

..... obviously, since section 142a was not actually on the statute book till it was inserted by the finance act, 2004, the power could not have been exercised by making a specific reference to section 142a, but now when section 142a is inserted and when the legislature has clarified that the said provision is deemed to be on the ..... he submitted that the said section has been inserted by the finance act, 2004, effective from 15-11-1972. ..... in the light of the above findings of the tribunal, the department has filed application and has stated that in view of the amendment made by the finance mi, 2004, by inserting section 142a of the act, which is effective from 15-11-1972, the dvo's report, obtained by the assessing officer under section 131(1) of the act be deemed to be a valid report and as such the addition made by the assessing officer be confirmed. ..... section 40a(7) was introduced in the income-tax act, with retrospective effect from 1-4-1973, by the finance act, 1975, on 12-5-1975. ..... 2) act, 2004, the order dated 9-11-2004, passed in ita nos ..... 2) act, 2004, the order dated 9-11-2004, passed in ita nos ..... 2) act, 2004, the order dated 9-11-2004, passed in ita nos ..... 2) act, 2004. ..... 2) act, 2004 with retrospective effect from 15-11-1972 inserted section 142a which reads as under: 142a ..... 2) act of 2004 or not ..... 2) act, 2004 reads as under: 142a ..... , section 142a was inserted in the act by the finance (no. ..... under section 254(2) of the income-tax act, 1961, in itat's order dated 9-11-2004, passed in ita nos. .....

Dy. Cit(A) Vs. Subham Industries

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... , right from the fifteenth day of november, 1972, the ao had the power to make reference to the valuation officer.obviously, since section 142a was not actually on the statute book till it was inserted by the finance act, 2004, the power could not have been exercised by making a specific reference to section 142a. ..... he submitted that the said section has been inserted by the finance act, 2004, effective from 15^thnovember. ..... in the light of the above findings of the tribunal, the department has filed application and has stated that in view of the amendment made by the finance act, 2004, by inserting section 142-a of the act. ..... section 40a(7) was introduced in the income-tax act, with retrospective effect from april 1, 1973, by the finance act, 1975, on may 12,1975. ..... 2) act, 2004, the order dated 9^thnovember, 2004, passed in i.t.a.nos. ..... 2) act, 2004, the order dated 9^thnovember, 2004, passed in i.t.a. ..... 2) act 2004 with retrospective effect from 15.11.1972 inserted section 142a which reads as under: 142a (1) for the purposes of making an assessment or reassessment under this act, where an estimate of the value of any investment referred to it section 69 or section 69b or the value of any bullion, jewellery or other valuable article referred to in section 69a on section 69b is required to be made, the assessing officer may require ..... 2) act, 2004, the order dated 9^thnovember, 2004, passed in i.t.a. ..... 2)act, 2004. ..... 2) act of 2004 or not. ..... 2) act, 2004, reads is as under: "142a. .....

Deputy Commissioner of Income Tax Vs. Shubham Industries

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2007)106TTJLuck34

..... , right from the fifteenth day of november, 1972, the ao had the power to make reference to the valuation officer.obviously, since section 142a was not actually on the statute book till it was inserted by the finance act, 2004, the power could not have been exercised by making a specific reference to section 142a. ..... in the light of the above findings of the tribunal, the department has filed application and has stated that in view of the amendment made by the finance act, 2004, by inserting section 142a of the act, which is effective from 15th nov. ..... he submitted that the said section has been inserted by the finance act, 2004, effective from 15th nov. ..... the tribunal dismissed the revenue's appeal for more or less identical reasons.section 40a(7) was introduced in the it act, with retrospective effect from 1st april, 1973, by the finance act, 1975, on 12th may, 1975.since the assessment order and the appellate order of the aac were completed long before the insertion of sub-section (7) in section 40a and even the order of the tribunal ..... 2) act, 2004, the order dt. ..... 2) act, 2004. ..... 2) act, 2004, the order dt. ..... 2) act, 2004, the order dt. ..... 2) act, 2004 with retrospective effect from 15th nov. ..... 2) act of 2004. ..... 2) act, 2004, reads as under: 142a. .....

Arun Excello Foundations (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : LC(2007)(3)269

..... , 2005 by the finance (no.2) act, 2004. ..... view of the clear language of the section which did not postulate any restriction regarding the extent of shops and commercial establishments under section 80-ib(10) and such restrictions with retrospective effect imposed only by finance act, 2004 w.e.f. ..... 2) act, 2004 w.e.f.1st april, 2005, sub-section (10) as amended by the finance act, ..... act, 2004 and notes on clauses in finance ..... 2000 by the finance act, 2000 and by the finance act, 2003 and as substituted by the finance (no. ..... 2001 and finance act, 2003 w.e.f. ..... 2000 has laid down various conditions and the provisions of section 80-ib amended by various finance acts as amended w.e.f. ..... to be eligible undertaking, developing and building housing projects and for claiming deduction under section 80-ib(10), finance act, 2000 w.e.f. ..... act, 2004 (23 of 2004) ..... 2) act, 2004 which reads as under: extension of the time-limit for obtaining approval of housing projects for the purpose of tax holiday under section 80-ib, and allowing deduction for redevelopment or reconstruction of existing buildings under ..... 2) act, 2004 which reads as under: under the existing provisions contained in sub-section (10), hundred per cent deduction of the profits of an undertaking developing and building housing projects is allowed if the housing project is approved by a local ..... 2) act, 2004 and the same provided clause (d) of section 80-ib(10), where restriction is put regarding the maximum commercial area to be built-up in view of .....

Abu-dhabi Commercial Bank Ltd. Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... submitted that this condition is the same as the one that existed in the explanation to section 90 prior to its deletion by the finance act, 2004; and, therefore, the ratio of the rulings in the case of decca survey overseas ltd. ..... deal with the contention that the definition of 'domestic company' in section 2(22a) itself includes the similar contention as was there in explanation to section 90 prior to its deletion by the finance act,2004. ..... with regard to tax treaties with 4-countries, which are subsequent to insertion of this explanation to section 90 by the finance act, 2001, we are of the considered opinion that in spite of insertion of this explanation in section 90, insertion of such clause in tax treaties with the outside countries is always advisable to avoid any confusion; but that ..... find that out of list of 26 treaties of india with various countries, all treaties are dated prior to the date of finance act, 2001, except, the treaty of india with ukraine, which is dated 11-1-2002; with uganda, which is dated 12-10-2004; with sudan, which is dated 1-11-2004 and with malaysia, which is dated 12-10-2004. ..... , we find that anexplanation has been inserted in section 90 by the finance act, 2001 with retrospective effect from 1-4-1962. ..... tax treaty between india with new zealand was also in the year 2000, which is also prior to the date of finance act, 2001.25. ..... , it can be seen that this explanation was inserted for removal of doubts; and the same is inserted by the finance act, 2001. .....

Amit Estate Organizer Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)113TTJ(Ahd.)1018

..... the reference made by the ao to the departmental valuer could not be held to be bad in law, in view of the provisions of section 142a, as inserted by the finance (no.2) act, 2004, with retrospective effect from 15th nov ..... 1995-96, 1996-97 and 1998-99 as well as for making any addition on the basis of such report in these three assessment years.23.2(ii) here, it can be argued that after the insertion of provisions of section 142a by the finance (2) act, 2004 with retrospective effect from 15th nov. ..... on account of alleged difference in cost of construction; there shall have to be a corresponding deduction of identical amount because the amendment brought about in section 69c by finance (2) act of 1999 being effective from 1st april, 1999 was applicable only for asst. yr. ..... effect from 1st april, 1998, second proviso to section 143(l)(a) was substituted by the finance act, 1997, which was operative till 1st june, 1999. ..... june, 1994 by finance act 1994. ..... june, 1999 by explanation as introduced by the finance act (no. ..... a result of insertion of explanation to section 143 by the finance act (no. ..... but we are of the opinion that it is not so because the provisions of section 142a, though have been made applicable only to the cases where the assessments had not become final on or before 30th day of september, 2004, but in our opinion, these provisions have not made the references having made under section 131(l)(d) of the act in the cases where the assessments have not become final till 30th sept. .....