Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1987)23ITD177(JP.)
..... appreciate how far the plea of the assessee has any validity, it is necessary to go to the basis which brought the amendment by the firm amendment act, 1970 (sic) w.e.f. 1-4-71. the c. b. d. t. had realised the hardship that was being ..... order of the jaipur bench of the tribunal dated 15-7-81 in the case of ramchandra cutpiece store, jaipur where considering the amended proviso, it was held that filing of the return of income is not necessary for granting of registration to a firm.5. to ..... firm to furnish the declaration at any time before the assessment is made." 4. the plea of the assessee is that since in the amended proviso, the words "along with its return of income" are not there, form 12 filed by it could be considered and order ..... causes in insisting to file the form 12 along with the return of income and this realisation resulted in the above amendment. this has been brought .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1988)25ITD124(JP.)
..... certainly agree with the aac. we, however, find that the legislature has stepped in to further clarify the law by inserting the following proviso by taxation laws (amendment) act, 1984 : provided that nothing contained in clause (a) shall apply to a case where the firm is dissolved on death of any of its partners.this proviso ..... judicial member although referred to the decision of the rajasthan high court which according to him governed the issue before him relied greatly upon the amendment brought about by taxation laws (amendment) act, 1984 by which a clause was inserted with effect from 1-4-1975 in section 187 whereby it was provided that a death of ..... for all statutory purposes unless expressly saved by any provision in the income-tax act. the proviso inserted by section 33 of the taxation laws (amendment) act, 1984, did not have such an effect. the department's contention that the effect of the amendment made by the legislature by inserting the proviso was to recognise only dissolutions .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1988)24ITD132(JP.)
..... that the notice of demand was issued indicating the tax payable by the assessee. the assessment order was made after the introduction of s. 292b by the taxation laws (amendment) act, 1979. the impugned assessment order was in substance and effect held to be in conformity with and according to the intent and purpose of the ..... the notice or demand was issued indicating the tax payable by the assessee. the assessment order was made after the introduction of section 292b by the taxation laws (amendment) act, 1975. the impugned assessment order was in substance and effect in conformity with and according to the intent and purpose of the income-tax ..... . s. ahluwalia, judicial member - there has been a difference of opinion between us. the point of difference is referred to the third member under sec. 255(4) of the it act, 1961 : "whether the departmental appeal should be dismissed altogether or the matter should be sent back to the ito for examining the same afresh." per shri ch. g. krishnamurthy, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1989)28ITD69(JP.)
..... the trust funds. he then referred to circular no. 229, dt. 9-8-1977 which was issued consequent to the amendments to section 13 vide fin. amendment act, 1977. he observed that the applicability of section 13(2) remain an admitted fact, in view of the rent- ..... gaj singh, by which the trust came to receive the donation of rs. 53 lakhs. the letter reads: i have pleasure in informing you that i desire to give a donation of a sum of rs. 53 lakhs now lying with m/s marudhar hotels pvt. ..... also emphasised that the proviso to section 5(1)(i) was not effective for the years in question, as the amendment was brought in by the fin. act, 1975, effective from 1-4-1986. he again stressed that on the reasonings provided by him and also on ..... relevant and directly connected to the question of whether the trust could be considered to be charitable trust, entitled to exemption under the act. this is a grave error committed by the wto, which could be corrected only by a superior authority like the commissioner and .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1993)44ITD359(JP.)
..... sold the same during the account period for rs. 12,43,453 through the same share broker thereby incurring a loss of rs. 2,73,053. 2. the following information is essential to ascertain the real nature of these transactions : (i) whether the shares purchased were transferred in the name of the assessee and necessary entries were made ..... agency, the partners could agree to carry on any other business from time to time by mutual consent. it is an admitted fact that this partnership deed was not amended. however, the case put forward before us on behalf of the assessee was that in terms of the provision in the partnership deed referred to above, the partners ..... the department in a subsequent year. this rule is subject to limitation, for there should be finality and certainty in all litigations including litigation arising out of the it act and an earlier decision on the same question cannot be reopened if that decision is not arbitrary or perverse, if it had been arrived at after due enquiry if .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1993)45ITD74(JP.)
..... advocate appearing for the assessee appellants vehemently urged that as per provisions contained in section 67(1)(a)(b) read with sections 158 and 247 and the newly amended provisions of section 28(5) the interest received by the assessee from the partnership firm had the character of business income and was part of the their share ..... puranmal & co. which exports precious and semi-precious stones and whose income from exports is totally exempt from tax as per provisions of section 80hhc of the it act, 1961 (the act). for the year under consideration shri moti chand rawat had returned his income at rs. 17,580 and shri ravi kumar rawat at rs. 14,866. at ..... reading of the above provisions would support the statement made above. in fact, the amended provisions of section 28(5) as inserted by the finance act, 1922 with effect from 1-4-1993 clearly exhibit the legislative intent in this respect. the said amended provision runs as under :- 28. the following income shall be chargeable to income-tax .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1993)45ITD634(JP.)
..... an "associate state" was quite alien to the indian federal system.10. it may be recalled that while the indian parliament was enacting the constitution (35th amendment) act the chogyal resented and sought to revoke the treaty. this provoked the progressive section of the people of sikkim and led to a resolution being passed by ..... desire to be associated with the political and economic institutions of india and for seeking representation for the people of sikkim in indian parliament. the constitution (35th amendment) act, 1974 was accordingly passed conferring the status of an "associate state" on sikkim by inserting article 24 and the 10th schedule in the constitution, though the ..... notifications issued thereunder continued to remain in force by virtue of article 371f(k) and (n) of the constitution of india inserted by the constitution 36th amendment act, 1975. in this behalf mr. ranka referred to paragraph 93 of finance minister's speech at page 19 and section 26 of finance bill 1989 at .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1993)46ITD24(JP.)
..... income of the assessee increased by giving effect to the amended provisions of section 80j which were upheld by the hon'ble supreme court, the interest charged under ..... a result of any rectification or appellate order etc. he submitted that this amendment, permitting the assessing officer to increase the interest both under section 215(3) as well as in explanation 2(b) of section 139(8) had been introduced vide taxation law amendment act, 1984 with effect from 1-4-1985 and hence even if the ..... section 80j by virtue of section 80j(1a) but they had discussed in detail the historical background of those provisions starting from section 15c of it act, 1922, section 84 of it act. 1961 (before its amendment and substitution by section 80j) and rule 19a of the it rules. their lordships have also specifically held that the provisions of rule 19a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1994)48TTJ(JP.)547
..... tax liability may not be disallowed. to this extent, the order of the learned cit, jaipur is cancelled.3. the assessee has moved an application whereby it has sought an amendment regarding the language of ground no. 3 in which it has sought to substitute the words "bonus" for the words "provident fund" in ground no. 3 in the ..... of rs. 1 lakh was an ascertained liability with reference to the bonus actually payable to the credit of the concerned department within time allowed under the payment of bonus act. in case the assessee is able to prove these points, no disallowance shall be made to the extent to which these conditions are satisfied.6. for the asst. yr ..... business of owning stones mines and extracting stones therefrom and selling those stones. for the asst. yr. 1985-86 and cit, jaipur took action under s. 263 of the it act and directed that outstanding sales-tax liability amounting to rs. 21,290, including sales-tax liabilities of rs. 2,574 in the books of branch at darah mines be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1996)56ITD486(JP.)
..... no interest is chargeable under section 217. the levy of interest is, thus, illegal and deserves to be deleted. the appellant prays your honour's indulgence to add, amend or alter any of the ground(s) on or before the date of hearing before your honour. on the facts and in the circumstances of the case, the ..... order dated 27th march, 1981, whereby the learned cit(a), jodhpur, directed the assessing officer (ao) to charge interest under section 217(1 a) of the it act, 1961 (the act) on the tax payable after giving credit for the seized amount of rs. 92,000. in his appeal, the assessee has challenged the very legality of the liability ..... the facts and circumstances of the case as discussed above, clearly established the foundational facts and, therefore, fully justified the charge of interest under section 217 of the act. in fact, by making the petition for waiver or reduction of the interest under section 217, the assessee had admitted such liability.that means that the foundational facts .....
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