Judgment Search Results Home > Cases Phrase: information technology amendment act 2008 section 46 amendment of section 87 Court: income tax appellate tribunal itat Page 19 of about 617 results (0.312 seconds)

Life Insurance Corporation of Vs. Joint Commissioner of Interest

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... stated earlier, exclusion of interest on securities from the taxability to interest-tax act led to ambiguity. hence, the speech of the finance minister, at the time of re-introducing the interest-tax act, in the year 1991, by amending act no. 45 of 1974 by finance act, 1992, can be relied on to clarify the position. if the legislature ..... 53. much has been argued on the last limb of the definition. the earlier definition specifically excluded interest chargeable under the head "interest on securities" under the it act. in the amended definition, this specific exclusion did not find place after the expression" but does not include..." hence, it was argued on behalf of the revenue that since ..... not extensive. heavy reliance was placed on the decision of the supreme court in the case of p. kasilingam and ors. v.p.s.g. college of technology and ors. air 1995 sc 1395. it was contended that this decision was also considered by the allahabad bench of the tribunal in sahara group of cases, a .....

Asia Satellite Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)85ITD478(Delhi)

..... of the assessee is to make available programmes of the tv channels in india through transponder on its satellite. it is not the mere user of any goods or information/technology in india, which is supplied by the assessee. the decisions in r.d. aggarwal (supra) and other cases referred to : before us and the authorities ..... the payment but was the exercise of profession in arguing the case in india. referring to the provisions of section 3 of the it act, 1961, prior to the amendments carried on by the finance act, 1999, it was stated that first proviso to section 3(2) allowed liberty to the assessee to adopt more than one period ..... of performing, producing or making something". in the like manner the "process" is defined in black law dictionary as "a series of actions, motions or occurrence, progressive act or transaction' continuous portions; method, mode or operation, whereby a result or effect is produced". similarly, in the cambridge international dictionary of english, this word has been .....

Amarjit Singh Bakshi (Huf) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)263ITR75(Delhi)

..... , these submissions and observations in the proposed order cannot impair the value and importance of the seized document. the ao noted, in the impugned assessment order that "the information received from punjab & sind bank brought to the notice of the assessee also shows that value of land measuring 3.812 acres as declared i.e., the part of ..... the ao was, however, resolved by insertion of explanation to section 158ba by finance (no. 2) bill, 1998 with retrospective effect i.e., from 1st july, 1995. this amendment had clarified that regular assessment would be separate and apart from a block assessment under chapter xiv-b.4. the ao in para 3 of the order pertaining to block ..... at rs. 23.50 lakhs as per sale deeds executed on 29th nov., 1994.3. the above information was passed on by the ao assessing shri atwal to the ao assessing shri bakshi. the ao initiated proceeding under section 158bd of it act against shri bakshi and completed block assessment for the asst. yrs. 1987-88 to 1997-98 (upto .....

Assistant Commissioner of Income Vs. Fertilizer Traders [Alongwith

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2004)83TTJ(All.)473

..... of the present cases and the ratio of the various decisions (supra), we are of the opinion that so far as the doctrine of merger, even after the amendment of the provisions of section 263 is concerned, once any of the 'aspects' of an 'issue' is the subject-matter of appeal before the cit(a), then ..... income and it has to be necessarily based on material found during the course of search under section 132 of the it act, 1961. the scope of survey under section 133a was entirely different and the information gathered during the course of survey cannot be made the basis of addition in block assessment. the learned counsel for the ..... is available. as it is undisclosed income, so no bad debt could be claimed. the learned departmental representative lastly argued that provisions of section 158bb have been amended, therefore, material recovered during survey could be considered.38. the learned counsel for the assessee submitted that the details submitted in the affidavit are not additional evidence as .....

Mangilal Rameshwarlal Soni (Huf) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)83TTJ(Jodh.)770

..... be based on : 41. in the instant case, the entire books of accounts were available with the ao and except these books of accounts, there was no material or information which was in the possession of the ao to show that the assessee had earned any income over and above the income shown in the books of accounts. the income ..... year has not been filed? (iii) whether block assessment made by assessing authority as modified by tribunal can be sustained in view of the amended clause (c) of section 158bb of the it act, 1961 as inserted by the finance act, 2002, w.e.f. 1st july, 1995? (iv) whether, in the facts and circumstances of the case, there was any foundation ..... as under: "thus, the limitation is provided only for the purpose of filing the appeal. once the appeal is filed within the limitation, the memo of appeal can be amended as per the practice and procedure. the view does not require any precedent to support. if it is required, even for cosmetic purposes; learned counsel has referred to a .....

Harish Krishnakant Bhatt Vs. the Ito

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2004)91ITD311(Ahd.)

..... letter dated 26-2-2002 stated that the expenditure by way of interest was mainly on investment of shares particularly when the dividend was taxable; that after amendment also, the dividend was still taxable and only the procedure for collection of taxes has been shifted from the shareholders to the company; that the expenditure was ..... in respect of expenditure incurred in relation to income which does not form part of total income under this act. 2 the assessee has also sought to contend that the amendment made in this respect is only a procedural amendment in the section since the dividend is still taxable, though, it is taxed in the hands of companies ..... it is saved by proviso to section 14a prohibiting the re-assessment or enhancement of assessment already completed. the proviso to section 14a is inserted by the finance act, 2002 with retrospective effect from 11-05-2001 to save certain completed actions otherwise. it reads as under: "provide that nothing contained in section shall empower .....

ito Vs. Shri Yogi H. Aggarwal, Associated

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)278ITR116(Mum.)

..... with regard to clubbing of minors' income had also led to litigation between the income-tax department and the assessees. section 64 of the income-tax act has, therefore, been amended to provide that all income of a minor is to be included in the income of his parent. however, the income derived by the minor from ..... in the total income of the individual. the provision is to provide relief to the individuals in whose total income of the minor child is to be included. these amendments take effect from 1st april, 1993, and will, accordingly, apply in, relation to assessment year 1993-94 and subsequent years.14. a combined reading of sub-section ..... from manual work or any activities involving his skill, talent or specialized knowledge or experience. therefore, whatever income (excluding deduction permissible under section 10(32) of the act) included by the assessee himself under section 64(1a), the assessee is entitled to deduction under section 80l.18. from the aforesaid provisions of law it is .....

ichalkaranji Co-operative Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2006)102ITD177(Pune.)

..... case of a.n. seth v. cit 33. learned senior counsel shri dastur brought my attention to section 152 of the mulla on the cpc act v of 1908, vol. i, which reads as under: amendment of judgments, decrees or ordersclerical or arithmetical mistakes in judgments, decrees or orders or errors arising therein from any accidental slip or omission may at any ..... . shri dastur reiterated, the letter dt. 20th may, 2002 written by the learned am, after passing the order dt. march, 2002, need to be ignored. the decision cannot be amended except to the extent permitted by section 254(2). he also invited my attention to p. 1284 of mulla on the cpc. vol. no. ii. shri dastur reiterated, hence definitely ..... that the same was not pressed. shri dastur submitted, the letter cannot form the basis of a decision of the learned am because- (4) the letter is not an amendment to the learned am's order as the procedure for the same has not been followed; (5) the letter is contrary to the manner in which the issue has been .....

Deputy Commissioner of Vs. Oman International Bank Saog

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)100ITD285(Mum.)

..... india u.p.ltd. v. dy. citnewdeal finance & investment ltd. v. dy. cit [2000] 74 itd 469 (chennai), jayanti commerce ltd. v. asstt. cit [1997] 61 itd 183 (cal.), wipro information technology ltd. 88 ttj 778, k. raheja development corporation v. asstt.cit [2005] 2 sot 744 (bang.), shobanlal jain v. asstt. cit [2003] 79 ttj (delhi) 446, dy. cit v. cat ..... 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 rationalise the provisions, the amending act, 1987 has amended clause (vii) of sub-section (1) and clause (z) of sub-section (2) of the section to provide that the claim for the bad debt will be allowed ..... if the bad debt or part thereof is written off as irrecoverable in the accounts of the assessee. what is the effect of substitution made by the direct tax laws (amendment) act, 1987 in the matter of deductibility of a bad debt is the core issue. in our view the law has done away of the onerous obligation on the part of .....

Mange Ram Mittal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)103ITD389(Delhi)

..... chapter iv, on the basis of evidence found as a result of search or requisition of books of account or documents and such other materials or information as are available with the ao....after amendment with retrospective effect the provisions of section 158bb(1) are required to be read as under: 158bb(1) the undisclosed income of the block ..... of section 158bc should be confined to evidence found during the course of the search. even after the amendment by the finance act, 2002 with retrospective effect from 1st july, 1995 the doors have been kept ajar to let in other materials or information gathered by the aos during the course of post search enquiry, but such other materials or ..... mumbai) (tm); npar drugs (p) ltd. v. dy. cit (2006) 100 ttj (del) (tm) 38 : (2006) 98 itd 285 (delhi) (tm) 84 ttj (mum.) 151 (sic) and gms technologies ltd. v. dy. cit (2005) 93 ttj (del) 218.the learned counsel argued that a third member decision of the tribunal had the same strength as that of a special .....