Judgment Search Results Home > Cases Phrase: information technology amendment act 2008 section 46 amendment of section 87 Page 93 of about 18,884 results (0.426 seconds)

Khushmanlal Hiralal Kansara Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1996)56TTJ(Ahd.)62

..... that : "where, on the date of initiation of assessment proceedings, law permitted an appeal to be preferred without payment of admitted tax liability but subsequently if law is amended requiring deposit of entire amount of admitted liability before appeal is entertained, right of appeal in such a case should be governed by unamended law." according to the assessees ..... in consonance with the avowed aims and objects of the legislature in enacting this provision and to further these and not to defeat these. being the creature of the it act, 1961, the cit(a) has to function within the parameters of the said statute and as such has no inherent powers in the matter of entertaining the appeal. ..... not been given any power to condone the default or not complying with the provisions of s. 249(4)(a). it may be mentioned that being the creature of the it act, 1961, the cit(a) has to function within the parameters of the said statute. accordingly, it is held that the cit(a) has to function within the .....

Amisha Trust No. 1 and ors. Vs. Wealth Tax Officer.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1996)55TTJ(Ahd.)465

..... the learned dy. cwt has erred in trying to distinguish the decisions of supreme court and high court.(8) your appellant craves leave to add, alter and/or to amend all or any of the grounds before the final hearing." 3. shri h. m. talati, the learned counsel appearing on behalf of these assessees, contended that the ..... explaining the provisions are reproduced hereunder : "19. changes in the scheme of taxation of the income of private discretionary trusts - under the existing provisions of the it act, income of a private trust is charged to tax at the rates of tax applicable to the personal income of each one of the beneficiaries including his share in ..... assets, the latter deals with income. subject to this difference, the two provisions are identically worded. hence, the decisions rendered under s. 41(1) of the indian it act, 1922, have a bearing on the question arising for decision in this case.it must, therefore, be held to be incontrovertible that whenever a trustee is sought to .....

Goyal Gases (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... to satisfactorily explain the whereabouts of the computers even though the agreement had practically come to an end, i.e., march, 1992 itself when shri goel informed the ao that he was making further enquiries from altos with regard to whereabouts of computers. the ao also noted that description of computers as given in ..... , it is guided by tax experts. therefore, it cannot plead not being properly conversant with the new provision. moreover, the assessee had claimed depreciation as per amended law which clearly establishes that assessee was fully aware of the new provision. (iii) that the assessee has pleaded there was clerical mistake in working of depreciation ..... the assessee is not relevant and mens rea is not essential. if a person has furnished inaccurate particulars, he is liable for penalty of concealment, whether such act was deliberate or not. that it is impossible to know mental attitude. therefore, legislation has deleted the provision with regard to 'mental attitude'. that even in .....

Jai Mahal Hotel (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1998)65ITD362(Delhi)

..... also submitted that there is no contrary judgment of any other high court on this point. at this stage the bench informed the learned counsel for the assessee that the hon'ble rajasthan high court in a recent case of lake palace hotels & ..... between the appellant-company and ihc reveals that ihc possessed expertised resources and infrastructure, covering, inter alia, highly developed technology in the field of hotel-tourists understanding, the need of indian and foreign tourist and travellers and meeting them through ..... depreciation on hotel building on considering the same as 'plant'. 3. the appellant reserves the right to add, alter, amend, delete or modify any ground or grounds of appeal either before or during the course of appeal." 2. the brief ..... vs. shri lakshmi silk mill ltd. (supra). (b) the distinct heads of income specified in s. 14 of the act are mutually exclusive. the income derived from different sources falling under specific heads has to be computed for the purpose of taxation .....

Bharat Mining and Engg. Co. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)229ITR60(Mum.)

..... it could be said that there is error prejudice to the interest or revenue." it may be seen that the cit relied upon the amendment to section 80hhc(2) inserted by finance (no. 2) act, 1991 with effect from 1-4-1991, as per which exclusion from the category of eligible goods for the purpose of granting relief ..... all considered the legal implications of exclusion of minerals and ores for the purpose of section 80hhc. it is also relevant that section 80hhc(2)(b) has been amended with effect from 1-4-1991 taking processed 'minerals and ores specified in the twelfth schedule. out of this exclusion clause. the twelfth schedule includes items of ' ..... commissioner, the assessing officer did not consider the legal implications of exclusion of minerals and ores for the purpose of section 80hhc. section 80hhc(2)(b) had been amended with effect from 1-4-1991 for taking processed 'minerals and ores', as specified in the twelfth schedule. the twelfth schedule includes items of 'cut and polished minerals .....

Deputy Commissioner of Income Tax Vs. Machino Techno Sales (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1997)62ITD225(Kol.)

..... was beyond the assessee's control. the existence of reasonable cause has been proved by the assessee with sufficient evidence as required by s. 273b of the act introduced by the taxation laws (amendment & miscellaneous provisions) act, 1986 w.e.f. 10th september, 1986.k. ravikumar & co. vs. ito (1989) 33 ttj (mad) 509 : (1989) 29 ..... "provisional" audit report under s. 44ab on 30th july, 1986, notwithstanding the fact that the accounts were not finalised and the statutory audit under the companies act had not been completed. this shows the bona fide of the assessee. the assessee's conduct cannot, therefore, be considered contumacious or in conscious disregard of ..... words 'specified date' in second proviso cannot be read as contended by the learned counsel. it was argued by the learned counsel for the assessee that under it act, whenever the legislature wanted to exclude application of provisions of other enactments, it was specifically provided for in those sections such as ss. 179, 230a, etc .....

Escorts Tractors Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

..... of inventories, material control system, machinery utilisation statements, break-down of the plant and machinery, warranty claim, payrolls, stock register and other management information to organise manufacturing operations of the plant. after satisfying himself about the fulfilment of various conditions, the ao allowed investment allowance and additional depreciation in ..... of the disallowance of rs. 7,000 out of advertisement and publicity expenses representing the payment made to g. b. pant university of agricultural & technology. the learned counsel invited our attention towards the letter dt. 28th january, 1983, sent by the vice-chancellor of the university to the assessee ..... the tribunal also considered the provisions contained in expln. 8 to s. 43(1) by the finance act, 1986, with retrospective effect from 1st april, 1974. after considering the entire material, the amended provisions and the above referred decisions, the tribunal, came to the conclusion that the amount paid by .....

Mrs. Carol Friedel Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... scheme. it was argued that benefit of the above provision should have been given after allowing deduction under s. 48(2) of the it act. the learned cit(a) found that statutory provision of the it act, 1961, stood amended by the finance act, 1987, w.e.f. 1st april, 1988, and deduction earlier permissible under s. 80t were incorporated in s. 48(2) ..... of the it act. the learned cit (a) was of the view that first proviso to ss. 53 and 54 is to be applied and ..... s. 48 is not to be applied in computing short-term capital gains. it is applicable only when long-term capital gain accrues or arises. this scheme of the act is, therefore, clear and provision of s. 48(2) is not automatically applicable in all cases where capital gain accrues or arises. its application is depended upon several other .....

Wall Street Construction Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD43(Mum.)

..... asst. yr. 1991-92 without prejudice that no income be taxed during asst. yr. 1992-93 as submitted in the relevant ground of appeal. (iv) amendment made in section 234b of it act, 1961, by finance act, 1995, by applied prospectively and accordingly interest under said section for asst. yr. 1992-93 be limited into the date of passing an intimation under section ..... 143(l)(a) of the said act." (v) the appellant craves liberty to add, to amend, or alter any of the above grounds of appeal." 5. the main issue in this appeal is the action of the ao in rejecting the ..... considered view, the accounts books of the assessee are liable to be rejected for the following reasons : (i) as a result of two search operations under section 132 of the it act, 1961 on 21st aug., 1990, and on 24th dec., 1992, a computer sheet was found, which gave details of 'on money' receipts and the assessee himself offered the .....

J.K. Investors (Bombay) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... standard rent but because of the definition of the annual letting value the difference between the actual rent received and the standard rent escaped taxation. sec. 23 was accordingly amended and cl. (b) applicable from asst. yr. 1976-77 was incorporated. now the ao has the choice of determining the annual letting value on the basis of ..... statutes must be so construed, if possible so that absurdity and mischief may be avoided. it is also well-settled principle of law that the provisions of the act must be construed in a harmonious manner.17. as already explained treating the notional value of the security deposit as rent received or receivable gives rise to absurdity - ..... the same meaning should be given to the same words used under different statutes. it was contended that the annual value is also referred to under the wt act and it is specifically provided that the notional interest at the specified rate is to be taken into account in determining the annual letting value.same expression has .....