Judgment Search Results Home > Cases Phrase: information technology amendment act 2008 section 46 amendment of section 87 Court: income tax appellate tribunal itat Page 11 of about 617 results (0.114 seconds)

Jay Bros. Investment and Trading Co. Vs. Deputy Commissioner of Income ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... view to expedite grant of refund, a uniform period of three months has been specified in sections 243 and 244 by taxation laws (amendment) act, 1970. if there is delay beyond the period of three months. it act provided for payment of interest to the assessee by the central government. while implementing the provisions of section 243 of the ..... of order the granting the refund' is not correct. thus, in cases where interest is payable by the central government to assessee under section 243 of the act, such interest is to be calculated up to the date of issue of the refund voucher." 5. the learned counsel submitted that the assessee was deprived of the ..... quantification of amount refundable takes place. it may be noted that upto 1st april, 1989, interest on the refund is permissible as prescribed under section 243 of the act wherein similar expression is used by legislature. section 244a comes into effect from 1st april, 1989, whereas section243 is available upto or prior to 1st april, 1989.the .....

income Tax Officer Vs. Dr. N.C. Doka

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2002)82ITD275(Gau.)

..... . moreover, the hon'ble supreme court had no occasion in this case to interpret rule 46a. rule 46a was inserted in the it rules, 1962, by it (second) amendment rules, 1973, w.e.f. 1st april, 1973. this judgment of the hon'ble supreme court was delivered in the year 1964. hence, we are of the opinion ..... have statutory force for the purpose of receiving additional evidences. while the first appellate authority has all the powers to make further enquiry under section 250(4) of the act, however, while receiving additional evidence the authority has to follow the necessary principles incorporated in rule 46a. in other words, the power of the cit(a) to ..... that the first appellate authority is well within his power to make further enquiry as he deems fit by exercising his power under section 250(4) of the it act, 1961. according to the learned authorised representative the restriction contained in rule 46a for receiving additional evidence cannot stand in the way of making further enquiry by the .....

Octavius Steel and Co. Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2002)83ITD87(Kol.)

..... the previous year in which the transfer took place and are chargeable to income-tax under the head 'capital gains'. 9.2. the amending act has inserted a new sub-section (2) in section 45 of the act to provide that the profits and gains arising from the transfer by way of conversion by the owner of a capital asset into, or ..... 1st april, 1985, when an asset is converted by the owner as stock-in-trade of business, such conversion is to be treated as transfer. corresponding amendment was made in section 45 of the act for computing capital gain arising out of such transfer. in the present case the asset was converted into stock-in-trade before 1st april, 1985. even ..... " in relation to a capital asset includes the conversion of capital asset into stock-in-trade only w.e.f. 1st april, 1985, when the amendment came into effect under section 2(47) of the act. in nutshell the submission of mr. singh is that since the conversion took place before 1st april, 1985, the provision of section 45(2) cannot .....

Srinivasan Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1994)51ITD195(Mad.)

..... their individual capacity.20. but the question that arises for consideration is whether the principle incorporated in the said explanation which was inserted by" the taxation law (amendment) act, 1984 with effect from 1-4-1985 could be applied to the assessment year 1984-85. this question is easily answered on the basis of authority. in ..... seven partners were representing their respective hindu undivided families. in other words, to use the phraseology of explanation 2 to section 40b [inserted by the taxation law (amendment) act, 1984] with effect from 1-4-1985, the said 7 persons were partners in a representative capacity.3. for the assessment year 1984-85 which is now ..... assessing officer was in existence even on the date on which the original assessment was made, the assessing officer could invoke the provisions of section 147 because the information that such a decision existed comes to him only much later (see page 297 of the report).13. in view of the foregoing, therefore, we hold .....

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 .....

Psi Data Systems Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1999)69ITD7(Coch.)

..... on the part of the assessee to provide for adequate depreciation before the net profit was ascertained. prior to the companies (amendment) act, 1988, depreciation had been provided as per the rates prescribed in the it act from time to time in the diminishing balance method. but this year the assessee changed the method to claim depreciation on ..... yr. 1988-89 the method of charging depreciation was changed to straight line method in accordance with s.205(2)(b) of the companies act. it was pointed out that the companies (amendment) act, 1988, had prescribed the rates of depreciation on straight line method. shri satyanarayanan submitted that after the introduction of the companies ..... (amendment) act, it became obligatory for companies to charge depreciation on straight line method. when the assessee thus made provision for depreciation on straight line .....

inductotherm (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2000)73ITD329(Ahd.)

..... the keeping of records of depreciation already availed of by each asset eligible for depreciation. in order to simplify the existing cumbersome provisions, the amending act has introduced a system of allowing depreciation on block of assets. this will mean the calculation of lump sum amount of depreciation for the entire block of depreciable ..... the particular asset at a consideration which can be reduced for the purpose of computing wdv of block of assets as provided in s. 43(6)(c) of the it act.11. in the present case, according to the assessee, it has discarded a particular asset during the present year meaning thereby that particular asset was not put to use ..... of assets, such percentage on the written down value thereof as may be prescribed." 7. the definition of block assets has been provided in s. 2(11) of the act according to which 'block of assets' means a group of assets falling within a class of assets, being buildings, machinery, plant or furniture in respect of which the same .....

Dr. T.P. Kulkarni Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)86ITD696(Mum.)

..... immunity to be granted to the assessee under the provisions of expln. 5(a) to section 271(1)(c) of the act. expln. 5 to section 271(1)(c) has been inserted by the taxation laws (amendment) act, 1984 w.e.f. 1st oct., 1984. the newly inserted explanation enacts deeming provision and hence applies to a situation ..... accounting record provides best foundation for filing return of both direct and indirect taxes. accounting is called a language of business. its aim is to communicate financial information about the financial results. this is not possible unless the main objectives of the books of account are to maintain record of business to calculate profit earned or ..... reference of file no. 5 which has been written by the secretary and some entries have also been made by the assessee. these are tabulised statements giving yearwise information regarding operation fees quoted and charged and graft cost supplied to the patient (compilation p. 123). file no. 7 on compilation p. 119 is an appointment .....

Fizz Drinks Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)95TTJ(Delhi)429

..... account that interest for determining the annual letting value in terms of section 23(1)(a) of the act. the learned cit(a) in asst. yr.1992-93 further observed that the provisions of delhi rent control act, 1958, as amended by the amendment act, 1988, w.e.f. from 1st dec., 1988, were different from the provisions of madras/calcutta ..... municipal rent control act and hence the madras and calcutta high courts decisions relied by the learned cit(a) in the ..... asst. yr. 1991-92, referred to above were not applicable. in this connection he noted that after the said amendment w.e.f. 1st dec., 1988, the provisions of delhi rent control act were not applicable to premises whose municipal rent exceeded rs. 3,500. in other words, the provision relating to standard rent is .....