Judgment Search Results Home > Cases Phrase: information technology amendment act 2008 section 46 amendment of section 87 Court: income tax appellate tribunal itat nagpur Page 1 of about 5 results (0.097 seconds)

Deputy Commissioner of Income Tax Vs. Prafulla Kumar Maheshwari.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1996)56TTJ(Nag.)421

..... continue to be a huf liable to be assessed as such." 8. in this s. 20, the word "wealth-tax officer" was substituted by the direct tax laws (amendment) act, 1987, w.e.f. 1st april, 1988. reading of cl. (1) of this section makes it clear that if the ao after inquiry, was not satisfied that a ..... tapeshwari prasad vs. cit (supra). the learned departmental representative further contended that the cwt(a) has failed to consider the fact that the provisions of s. 20a have been amended w.e.f. 1st april, 1980, and incorporated out of necessity to curb the avoidance of wealth-tax so frequently resorted by the assessees by creating multiple hufs.6. ..... of the tribunal in kamal vishnubhai panchal (huf) vs. ito (1987) 29 ttj (ahd) 166 : (1987) 34 taxman 316 (ahd) also independently took a similar view holding that amendment in s. 171 derecognising a partial partition is applicable only to the huf once assessed to tax and the undivided families which were never assessed could not be brought within .....

Deputy Commissioner of Income Tax Vs. Prafulla Kumar Maheshwari

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1996)59ITD257(Nag.)

..... continue to be a huf liable to be assessed as such." 8. in this s. 20, the word "wealth-tax officer" was substituted by the direct tax laws (amendment) act, 1987, w.e.f. 1st april, 1988. reading of cl. (1) of this section makes it clear that if the ao after inquiry, was not satisfied that a ..... tapeshwari prasad vs. cit (supra). the learned departmental representative further contended that the cwt(a) has failed to consider the fact that the provisions of s. 20a have been amended w.e.f. 1st april, 1980, and incorporated out of necessity to curb the avoidance of wealth-tax so frequently resorted by the assessees by creating multiple hufs.6. ..... of the tribunal in kamal vishnubhai panchal (huf) vs. ito (1987) 29 ttj (ahd) 166 : (1987) 34 taxman 316 (ahd) also independently took a similar view holding that amendment in s. 171 derecognising a partial partition is applicable only to the huf once assessed to tax and the undivided families which were never assessed could not be brought within .....

Surendra Kumar JaIn Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2004)85TTJ(Nag.)285

..... f. 1st april, 1989, which extended the period of eight years to ten years. that being the position, the amending act having come into force before expiry of the period prescribed under the old act, the notices issued could not be challenged as being time-barred and without jurisdiction." 114. the decisions relied by ..... assessee. hence to bring to tax such escaped income, the ao initiated action under section 147 after complying with all the statutory formalities. therefore, the information, which enlightened the escapement of sizeable income, and the investigation and verification of the same with reference to the facts disclosed by the assessee in the ..... various points raised by him in connection with assessment of his escaped income in the reassessment proceedings. the assessee, however, once again did not divulge any information in order to offer his explanations/clarifications in the matter and persisted with his earlier stand by raising his following objections : (1) the assessee has .....

income-tax Officer Vs. Jai Jinendra Investment (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1999)70ITD512(Nag.)

..... with the arguments of the parties, for a better appraisal of the arguments, it is necessary to have a glance of the section before and after amendment. before amendment brought in by the direct tax laws (amendment), act, 1987 w.e.f. 1st april, 1989, s. 147 read as under : (a) the ao has reason to believe that, by reason of ..... material facts relating to computation and the claim of deduction under s. 80m. the ao, he held, has applied his mind. in the absence of any information, the subsequent ao cannot act upon on the basis that he had different opinion. he further held that though the provisions of s. 147 have been changed w.e.f. 1st april, ..... loss or depreciation allowance has been computed or if there was no failure or omission on the part of the assessee but subsequently, the officer has, in consequence of information in his possession, reason to believe that income has escaped assessment either by way of allowing excessive relief, or underassessed or assessed at low rate of tax, then .....

Assistant Commissioner of Income Vs. Vijay Kumar Patni, Ajay Kumar

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2007)108ITD409(Nag.)

..... a certain sum of money, unlike in the case of cash system of accountancy which merely takes note of actual receipts or disbursements.as per section 145 as amended w.e.f. 1st april, 1997 the assessee can follow either the mercantile system or cash system of accounting. the assessee was following mercantile system of accounting ..... learned cit(a)-ii, nagpur, dt. 18th june, 2004 in an appeal against assessment order framed under section 143(3) r/w section 147 of the it act (the act).2. all the assessees are relatives and partners in a firm m/s arun automobiles, having equal share therein. original assessments were completed under section 143(1)(a ..... of addition in respect of interest income, in the cross-objections the assessee challenges reopening of assessment and charging of interest under sections 234a and 234b of the act.6. learned special counsel for revenue shri jaiswal, narrating the facts submitted that the firm m/s arun automobiles is following mercantile system of accounting. the .....

Murtuzabhai Mohammedbhai Vs. Income Tax Officer.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (1997)58TTJ(Nag.)601

..... income should be determined from the regular assessment as reduced by the advance-tax, if any, paid and any tax deducted at source. sec. 234a inserted by the amendment act, 1987 w.e.f. 1st april, 1989 is also identically worded.it stipulates that the interest shall be chargeable on the amount of the tax on the total income ..... (1992) 196 itr 55 (bom), the honble bombay high court held that the disallowance of the claim for deduction can be made only on the basis of the information available in the return and in the documents and accounts accompanying it, in other words, the claim is solely prima facie inadmissible.whether, self-assessment tax payment is includible ..... contended that cannot be considered along with the tds and advance-tax, while computing the income for the purpose of levy of interest under s. 234a of the act.6. we have heard the rival submissions and gone through the orders of the revenue authorities and also the decisions relied upon by the learned counsel for the assessee .....

Murtuzabhai Mohammedbhai Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Nagpur

..... income should be determined from the regular assessment as reduced by the advance-tax, if any, paid and any tax deducted at source. sec. 234a inserted by the amendment act, 1987 w.e.f. 1st april, 1989 is also identically worded.it stipulates that the interest shall be chargeable on the amount of the tax on the total income ..... (1992) 196 itr 55 (bom), the hon'ble bombay high court held that the disallowance of the claim for deduction can be made only on the basis of the information available in the return and in the documents and accounts accompanying it, in other words, the claim is solely prima facie inadmissible.whether, self-assessment tax payment is includible ..... contended that cannot be considered along with the tds and advance-tax, while computing the income for the purpose of levy of interest under s. 234a of the act.6. we have heard the rival submissions and gone through the orders of the revenue authorities and also the decisions relied upon by the learned counsel for the assessee .....

South Eastern Coalfields Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2003)260ITR1(Nag.)

..... basis of existence or non-existence of the information in the possession of the ao at the relevant time to entertain belief about escapement so as to acquire jurisdiction under section 147 r/w section 148. 4.8. it is pertinent to note that section 147 was substituted by the direct tax laws (amendment) act, 1987 w.e.f. 1st april, ..... and sold by such owner. further, the government is also authorized having regard to all the relevant factors, including the geological and mining condition of and the mining technology employed in the collieries by the colliery owners as well as the estimated cost of production of coal and coke produced by such colliery owner to fix by notification ..... year. in order to eliminate the disputes in the matter of determining the year in which a bad debt can be allowed and also to rationalize the provisions, the amending act, 1987, has amended clause (vii) of section (1) and clause (i) of sub-section (2) of the section to provide that the claim for the bad debt will be .....

Assistant Commissioner of Income Vs. Suretech Hospital and Research

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2006)104TTJ(Nag.)869

..... , 1964 on the date of completion of assessment-law in force as on 30th june, 1962, would apply and the provisions of section 17(1)(a) as amended by gt (amendment) act, 1962, w.e.f. 1st april, 1963, will not be applicable. held, that the assessee had not misled the ao while filing the return under section ..... (1)(c)-as regards leviability of penalty in case where assessment resulted in a reduced loss, expln. 4 to section 271(1)(c) inserted by taxation laws (amendment) act, 2002 is clarificatory in nature-the case is covered by the jurisdictional bombay high court decision. the assessee had filed incorrect audit report under section 44ab with the ..... to prove that the loan transactions were not genuine. the assessee submitted that some creditors emigrated to usa temporarily. by producing or furnishing all the above detailed informations, we are of the considered opinion that the assessee has discharged its primary onus and the revenue failed to prove that these creditors were not genuine or they .....

income Tax Officer and ors. Vs. Maheshwari Sewa Samiti and ors.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2005)98TTJ(Nag.)832

..... . the instructions of the cbdt have been given statutory acknowledgement by the jurisdictional high court in cameo colour co. (supra), then why not other instructions/provisions amended have to be taken into consideration.all the instructions of the cbdt have to be taken into account while considering the monetary limit for filing an appeal by ..... mistake apparent from the face of records and the same needs to be rectified.15. section 254(2) of the it act, 1961, expressly confers power upon the tribunal to correct any mistake apparent from the record and power to amend any order passed under sub-section (1) of section 254. in the case of cit v. ballabh prasad ..... an unintended error, it could have been withdrawn and fresh circular/instruction would have been issued, which is within the power of cbdt under section 119 of the act. he further stated that the tribunal, hyderabad bench in the aforecited case has approved the instruction no. 1979 and held that the said instruction leaves no room .....