Court : Income Tax Appellate Tribunal ITAT Lucknow
Reported in : (2007)110TTJLuck357
..... singh gurmukh singh v. ito , the hon'ble supreme court made following important observation: section 40a(3) of the it act, 1961, which provides that expenditure in excess of rs. 2,500 (rs. 10,000 after the 1987 amendment) would be allowed to be deducted only if made by a crossed cheque or crossed bank draft (except in specified cases ..... of crossed cheque/draft and the purchaser's business interest would suffer due to non-availability of goods otherwise than from this particular seller; or (e) the seller, acting as a commission agent, is required to pay cash in turn to persons from whom he has purchased the goods; or (f) specific discount is given by the ..... them number of days after purchase of goods and that no exceptional circumstances compelled the assessee to make the payment in violation of provisions of section 40a(3) of the it act, 1961.4. on appeal, the cit (a) confirmed the addition stating that in my view no exceptional circumstances have been brought out for payment by cash/bearer .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2008)116TTJ(Mum.)177
..... v. cit through which the controversy in this regard has been set at rest. the hon'ble punjab and haryana high court have held that the amendment by the finance act, 1987 was thus held to remedial in nature. the question of law raised before the hon'ble punjab and haryana high court is with regard ..... pay contribution towards provident fund, superannuation fund, gratuity fund, etc. before the due date under the respective enactments, whereas the amended provision, due to the omission of second proviso to section 43b of the act, enables the assessee to pay contribution to provident fund, superannuation fund, gratuity fund, etc. before the filing of the return. ..... fund, gratuity fund, etc. before the due date under the relevant act is not entitled to the deduction without the aid of subsequent amendment, because only by way of subsequent amendment, due to the omission of the second proviso to section 43b of the act, the assessee is able to get deduction of payments made towards provident .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2008)113TTJ(Hyd.)1007
..... and ends with 2000-01. upto asst. yr. 2000-01, the assessee has not got any benefit by virtue of section 10a or 10b of the act. even on consideration of amended provisions of section 10b applicable to period 1st april, 1999 to 31st march, 2001 where period of 8 assessment years has been substituted by 10 assessment years ..... 1st april, 1993 to 31st march, 1994 was 8 assessment years beginning with assessment years relevant to previous year in which the undertaking begins to manufacture. but subsequent amendments applicable to period 1st april, 1999 to 31st march, 2001 in provisions of section 10b this period of 8 assessment years has expanded to 10 assessment years. it ..... 1993-94 which has ended with asst. yr. 2000-01 on completion of eight years. however, this period of 8 years was extended to 10 years by subsequent amendment. the learned departmental representative further submitted that in asst. yrs. 1993-94, 1994-95 and 1995-96, the assessee did not make claim under section 10b. he further .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Chennai
Reported in : (2008)115TTJ(Chennai)563
..... arunaben sumankumar (supra)-record of third person can also be taken into account by the cit for revision under section (v) cit v. vallabhdas vithaldas and anr. (supra)-after amendment of section 263, statements in third parties cases also can be treated as 'record'. (vi) cwt v. s.v. sivarathina pandian ; cit v. m.n. sulaiman ..... allowed development rebate. (vi) the learned counsel submitted that it would be seen from all the cases cited supra that the words 'relating to the proceedings under the it act' had been interpreted to mean (i) papers seized at the time of search including third person, (ii) valuation report, (iii) wrong relief already granted and (iv ..... mind to satisfy himself whether allegations therein were correct; (v) the charge-sheet filed by dvac cannot be considered as 'record relating to the proceedings under this act; (vi) power cannot be exercised for starting fishing and roving enquiries- cit v. gabriel india ltd. .it was further submitted on behalf of the assessee that .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2008)115TTJ(Delhi)752
..... placed upon cit v. sree senhavalli textiles (p) ltd. for the proposition that expln. 5 to section 32(1) applies only from 1st april, 2002 and the amendment does not apply to earlier years. their lordships therein while dealing with the issue of revised return filed by the assessee proceeded to hold as under: held, affirming the ..... could not be converted into a disadvantage and the option could not become an obligation. though after that judgment expln. 5 was inserted in section 32(1) of the it act, 1961, declaring that 'for the removal of doubts' the provisions of sub-section (1) would apply whether or not the assessee had claimed depreciation, the explanation ..... between the members the following question is referred to the hon'ble president of the tribunal for deciding the same as contemplated in section 255(4) of the act: under the facts and findings whether there is any justification to restore the matter to learned cit(a) for addressing on maintainability of claim of higher depreciation .....
Tag this Judgment!Court : Mumbai
Reported in : (1993)46TTJ(Mumbai)71
..... advised the field officers that the assessee would be entitled to interest under s. 214 of the it act, on the amount refundable to him by virtue of order of rectification. the circular also stated that the interest was admissible till the date of regular assessment. only as this ..... interest was granted by the assessing officer. in reference, high court held that the assessee would be entitled to interest on refund of advance tax under s. 214 of the it act. the high court in this connection referred to the circular instruction no. 947 dt. 23rd april, 1976 issued by the cbdt. in the said circular, the cbdt has ..... not make any difference. under the scheme of the act the provision of s. 154 are no in any way materially different from the provisions of s. 155(1), and this has been made abundantly clear in s. 155(1) itself, wherein, it has been held that the assessing officer can amend the order of assessment with a view to including .....
Tag this Judgment!Court : Mumbai
Reported in : (1998)149CTR(Bom)480
..... to the employpes of cooperative societies, universities, i.i.t. and institutes of managenient notified by the central government in this behalf by amending this clause by the finance act, 1994. clause (10c), as arnonded by the finance act, 1994, which is operative w.e.f. 1st april, 1996, reads as follows'(10c) : any amount received by an employee ..... an institution declared to be a university under s. 3 of the university grants commission act, 1956 (3 of 1956), or(vii) an indian institution of technology within the meaning of cl. (g) of s. 3 of the institutes of technology act, 1961 (59 of 1961); or(viii) such institution of management as the central government may by ..... an institution declared to be a university under s. 3 of the university grants commission act, 1956 (3 of 1956),- or(vii) an indian institute of technology within the meaning of cl. (g) of s. 3 of the institutes of technology act, 1961 (59 of 1961); or(viii) such institute of management as the central government may, by .....
Tag this Judgment!Court : Karnataka
Reported in : (1998)144CTR(Kar)474; [1997]227ITR421(KAR); [1997]227ITR421(Karn)
..... , syndicate bank, demanding payment of tax which had earlier been assessed in respect of the firm on the ground that in view of the amendment act the order of the tribunal had become inoperative and that the original assessment order still held the field. the petitioners have challenged that annexure-c. during the pendency of ..... subsequent to the dissolution and reassess the income of the firm. after the passing of that order s. 26 of the act came to be amended by the karnataka act no. 10 of 1987. sec. 13 of the amendment act contained a provision regarding validation of the orders made earlier. the first respondent wrote a letter, annexure-c, to the manager ..... passed or the notices to file the returns were issued, the firms had ceased to exist. the question that requires consideration is whether s. 26(4) as amended by act 10 of 1987 or s. 27 empowers the authority to pass an order of assessment against the dissolved firm in respect of certain income derived after the date .....
Tag this Judgment!Court : Karnataka
Reported in : ILR2005KAR4673; [2007]290ITR522(KAR); [2007]290ITR522(Karn)
..... 1st april, 1988, substituted this section by a new section w.e.f. 1st april, 1989, but that substitution was deleted and instead, certain amendments were made by the direct tax laws (amendment) act, 1989, w.e.f. 1st april, 1989 and thereby clauses (a) and (i) of the original section were omitted.17. a brief analysis ..... given a reasonable opportunity of being heard.'15. the taxation laws (amendment and miscellaneous provisions) act, 1986, apart from others, made the following amendments w.e.f. 10th sept., 1986 :'(1) the words 'without reasonable clause' wherever they occurred, were omitted.'16. the direct tax laws (amendment) act, 1987, apart from making changes in the designations w.e.f ..... '. however, he has confirmed the orders of assessment passed for the asst. yrs. 1981-82 to 1983-84, keeping in view the amendment effected to wt act by the finance act, 1981, by which amendment section 21aa is inserted w.e.f. 1st april, 1981, which is applicable for and from the asst. yr. 1981-82. now .....
Tag this Judgment!Court : Karnataka
Reported in : (2005)198CTR(Kar)209; ILR2005KAR5906; [2005]279ITR402(KAR); [2005]279ITR402(Karn)
..... compensation' is explained by the apex court in the case of cit v. e.d. sheppard (supra). though the decision was rendered prior to the amendment of section 7 of 1922 act w.e.f. 1955, still the meaning assigned to the word can be usefully applied to understand the meaning of the expression 'compensation'. by a ..... 1993 even to workmen and employees of 'any other company', a statutory authority, a local authority, a co-operative society, an university, an indian institute of technology and such institute of management as may be specified by the central government. the exemption provided under this sub-section would cover payments made at the time of ..... an institution declared to be a university under section 3 of the university grants commission act, 1956; or an indian institute of technology within the meaning of clause (4) of section 3 of the institutes of technology act, 1961; or any state government; or the central government; or an institution having importance throughout india or in any .....
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