Judgment Search Results Home > Cases Phrase: information technology amendment act 2008 section 46 amendment of section 87 Court: income tax appellate tribunal itat chandigarh Page 1 of about 19 results (0.191 seconds)

Dewan Chand Amrit Lal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2006)98ITD200(Chd.)

..... this major economic evil. the government have, in recent past, taken several legislative and administrative measures to unearth black money. the it (second amendment) act, 1981 (hereinafter referred to as the amending act) represents another step in the same direction. 2.2 it came to government's notice that a substantial amount of black money was deposited ..... the limitation with reference to the assessment proceedings, then in no case, penalty under sections 271d and 271e could be initiated in the cases where the information is gathered in the course of search. that would defeat the very purpose of legislating the provisions of sections 271d and 271e. looking from the background ..... the report of the ao has been reproduced by the dy. cit in para 2 of his order which is quoted hereunder: "on receipt of the information necessary enquiries were made and the concerned parties were confronted with the photocopy of the receipt issued by them to shri surinder kumar of bhatinda. the assessee .....

The A.C.i.T. Vs. Aggarwal Construction Co.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

..... . bhan singh, buta singh 120 itr 1 and, levied penalty of rs. 1.00 lac under section 271a of the act. on the other hand, the conclusion of the id cit(a) is that the assessing officer was having sufficient information for making the assessment and the receipts against work done were entered in the bank account and placed reliance upon the ..... to be penalised under section 271a, the assessing officer mentioned that the provisions of the said section were amended w.e.f.1.6.2001 and as per the amended provisions the penally of rs. 25,000 was to be imposed under section 271a of it act. he, however, levied the penally of rs. 1.00 lakh by staling that the provisions which existed .....

Paras Cold Storage and Ice Factory Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2003)84ITD108(Chd.)

..... that the tribunal has veritably sat in appeal over an order passed by its predecessor members and has plainly exceeded its jurisdiction. section 254(2) of income-tax act, 1961 empowers the tribunal to amend any order passed by it under sub-section (1) with a view to rectify a mistake apparent from the record. but it was an order passed on ..... following portion of the headnote of the citation (supra) : on a rectification application under section 254(2) of income-tax act, 1961, on 20-10-1994 filed by the department, the appellate tribunal allowed this application, observing that since the vital information in the form of court proceedings was not before the assessing officer the observation made in its appellate order dated .....

Avon Cycles (P) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1994)48TTJ(Chd.)249

..... before the learned cit(a) against disallowance of rs. 24,53,232 under s. 43b on account of sales-tax. it was argued that s. 43b , as amended by the finance act, 1983, was not applicable in the case of the assessee and that the issue had been decided by various benches of the tribunal, including the chandigarh bench. the learned ..... intimate whether the closing stock of scrap was physically identified/verified at the close of the accounting year and valued. vide another letter dt. 30th april, 1987, it was informed that the value of closing stock of scrap as on the close of the accounting period was not taken into account. it was further pointed out that even in the ..... with it.7. now there is not scope for the first appellate authority also to decide the issue in any manner other than in accordance with law as amended by the finance act of 1990 with retrospective effect from 1st april, 1967.8. the facts relating to the second point of difference of opinion are little confused but from what i .....

Acit Vs. Mahavir Spinning Mills Limited

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2008)110ITD211(Chd.)

..... manufacturing or producing articles or things in a free trade zone subject to certain conditions but similar benefit was not available to the 100% equs so, the amendment was brought to the statute with a view to provide incentive for earning foreign exchange and the units were allowed to claim exemption from tax for a -: ..... allowed under section 80hh or 80hha, 80ib of 80 ia in relation to the profits and gains of the undertaking who claimed deduction under section 10b of it act therefore, to ensure that no assessee should claim any benefit over and above the benefits under section 10b in respect of same industrial undertaking the said provision ..... figure than actually admissible under section 80hhc. the assessing officer asked the assessee to justify its clam of deduction under section 80hhc and 10b of the i.t act. the assessee submitted that section 10b and 80hhc are two different sections intended to give different benefits to the eligible assesseess it was further stated that 100% .....

Punjab State Industrial Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)292ITR268(Chd.)

..... . new great insurance co.ltd. . 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. the hon'ble high court answered the question against the revenue but that view was contrary to the decision of supreme ..... court in the case of distributors (baroda) (p) ltd. v. union of india (supra) and also contrary to the amendment made by finance (no. 2) act, 1998 with retrospective effect from 1st april, 1968. it is so held by the supreme court. so the decision of the tribunal and high court are reversed ..... deduction under section 80m is to be allowed. the question was raised in a writ challenging amendment introduced in the shape of section 80aa through finance (no. 2) act, 1980 with retrospective effect. it was the claim of the assessee that above amendment could not be introduced with, retrospective effect in the light of decision of hon'ble supreme .....

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)107ITD343(Chd.)

..... 496, dt. 25th sept., 1987 providing for allowance of deduction in respect of the sales-tax deferred payment would apply only if a state government had amended its sales-tax act to provide that the sales-tax that was deferred under an incentive scheme framed by it would be treated as actually paid so as to meet the requirements ..... in respect of the tax paid by them. this was not intended by section 43b. hence, the first proviso was inserted in section 43b. 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 ..... in respect of the tax paid by them. this was not intended by section 43b. hence, the first proviso was inserted in section 43b. 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 .....

Assistant Commissioner of Income Vs. Aggarwal Construction Company

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)106ITD129(Chd.)

..... in the case of brij mohan v. cit and levied penalty of rs. 1 lakh under section 271a of the act. on the other hand, the conclusion of the learned cit(a) is that the ao was having sufficient information for making the assessment and the receipts against work done were entered in the bank account and placed reliance upon the ..... liable to be penalized under section 271a, the ao mentioned that the provisions of the said section were amended w.e.f. 1st june, 2001 and as per the amended provisions, the penalty of rs. 25,000 was to be imposed under section 271a of it act. he, however, levied the penalty of rs. 1 lakh by stating that the provisions which existed ..... having sufficient information for making the assessment. on the contrary, the assessee was not maintaining such books of account which could enable the ao to compute its income. 3. it is prayed that the order of the learned cit(a) be cancelled and that of the ao may be restored. 4. the appellant craves leave to add or amend any grounds .....

Om Prakash Munjal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2002)83ITD481(Chd.)

..... she also relied on the order of cit(a) where the action of ao in reopening of the assessment has been upheld by referring to the amended provisions of the act. she further submitted that medical expenses reimbursed to the assessee abroad were rightly taxed under the head "income from other sources" because the assessee was not ..... cover the reopened proceedings.8. now, if we refer to the amended provisions of section 147, we find that there are significant changes made therein. prior to amendment of the provisions, the ao could assume jurisdiction under section 147 only if there was positive information to the effect that income chargeable to tax had escaped assessment. besides ..... of "income chargeable to tax" escaping assessment under the deeming provisions. the action of the ao in this case can be seen in the light of amended legal provisions of section 147, wherein reimbursement of travelling expenses of sizeable amount were not included in the total income of the assessee and there is no .....

Prakash Chand Vij Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)95TTJ(Chd.)409

..... household expenses. the assessee stated that he did not maintain any personal set of books of account. the ao scrutinised the regular returns of the assessee but information could not be found regarding withdrawals made by him. according to the ao, some unaccounted money must have gone in his conspicuous living standard and other personal ..... previous year for the purpose of aggregation be taken as total income in accordance with the provisions of this act. earlier in place of "act", the word used was "chapter iv" and the amendment had been inserted by the finance act, 2002, with retrospective effect from 1st july, 1995. therefore, combined reading of the entire section 158bb ..... years falling within the block period computed in accordance with the provisions of this act, on the basis of evidence found as a result of search or requisition of books of account or other documents and such other materials or information as are available with the ao and relatable to such evidence, as reduced by .....