Judgment Search Results Home > Cases Phrase: institutes of technology amendment act 2002 section 4 amendment of section 4 Court: income tax appellate tribunal itat madras Page 1 of about 19 results (0.218 seconds)

T. I. and M. Ltd. Vs. Assistant Commissioner of Wealth

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2000)73ITD180(Chennai)

..... is an employee whose income (exclusive of the value of all benefits or amenities not provided for by way of monetary payment) chargeable under the head "salaries" under the it act does not exceed eighteen thousand rupees;" 10. the notes on clauses clearly spell out that sub-s. (1) gives the rate of tax leviable, sub-s. (2) ..... for the purposes this sub-section, 'company in which public are substantially interested' shall have the same meaning assigned to it in cl. (18) of s. 2 of the it act. (2) for the purposes of sub-s. (1), the net wealth of a company shall be the amount by which the aggregate value of all assets referred to in ..... exclude those assets that are held as stock-in-trade and further amendment was that the salary of employees was increased from ten thousand rupees to eighteen thousand rupees.12. lawmaker in the proposal to introduce wealth-tax on closely held companies had exempted certain institutions which factor is an indicator that they had consciously provided for the .....

T.M. Yusuf Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1998)64ITD84(Mad.)

..... been established the question of considering the admissibility as a deduction under section 35(2a) of the it act or 35cca of the it act does not arise. the cit(a) also considered that in the case of donation to approved institutions u/s 35cca of the it act as amended by the finance act, 1983 conditions for claiming deduction are : (a) a certificate should ..... & kashmir is really assessed to tax in the jurisdiction in ddit, spl. cle., new delhi; (b) if so whether aparna ashram is recognised as approved institution under section 35(2a) of the it act by notification no. 4344 dated 24-11-1981 which was valid up to 24-4-1983; (c) whether the assessee has made donation of rs. 20 ..... other purpose).the cit(a) found that the approval granted under section 35cca of the it act had been withdrawn by the state level committee on 28-1-1987 and so the donation made by the assessee cannot be considered as made to an institution approved for the purpose of section 35cca. the cit(a) has mentioned in his order .....

Assistant Commissioner of Income Vs. Ambadi Enterprises (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Madras

..... representative that the sum of rs. 5,79,589, being cash assistance received by the assessee, has become revenue receipt by way of the retrospective amendment in s. 28(iiib) and (iiic) of the it act.we accordingly direct the ao to include the said sum of rs. 5,79,589 in the income of the assessee under the head 'profits ..... whether the cash incentive received by the assessee is taxable as revenue receipt or not. the learned departmental representative pointed out that there was retrospective amendment by the finance act, 1990, to s. 28 of the it act, by which ss. 28(iiib) and 28(iiic), which read as under, have been added and the income by way of cash ..... adequately elastic to enable the courts to apply the law in a meaningful manner which subserves the ends of justice that being the life-purpose of the existence of the institution of courts. a justifiably liberal approach has to be adopted on principle. 'every day's delay must be explained' does not imply a pedantic approach. the doctrine must .....

V.G. Ramachandran Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2006)100ITD545(Chennai)

..... authority established under a central, state or provincial act or a local authority or a co-operative society, or a university, or indian institute of technology, or state or central government, or an institution having central government, etc. at the time of voluntary retirement or termination of his service in accordance with any scheme or schemes of ..... service will not be included in computing the total income of such employee. other conditions as well as the overall limit shall, however, remain unchanged. this amendment will take effect from 1-4-2004, and will, accordingly, apply in relation to the assessment year 2004-05 and subsequent years.further the memo explaining provisions ..... shifting or splitting of the maximum permissible amount of rs. 5 lakhs either. it is pertinent to mention here that even while clause (10c) has since been amended by the finance act, 2003, so as to make it applicable: not only to any amount "received" but also to any amount "receivable", the second proviso .....

Gopal Srinivasan Trust Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1993)46ITD157(Mad.)

..... while an 'association' might well connote an active element of combining or associating, a 'body' would include even a comparatively inert mass of people or institutions. the only essential attributes of a boi are that there should be a plurality of individuals and they must, in the gross have a nexus to a ..... of the law commission.36. in the cases before us, the assessees are private discretionary trusts. it would, therefore, suffice to note the provisions of the it act, 1961 relating to the assessment of trusts in general and of private discretionary trusts in particular.37. the general provisions relating to 'representative assessees' are contained ..... construction. legislative history in one other respect also points to the same conclusion. the expression 'association of persons' was adopted as a right expression when extensive amendments to the statute were made in the year 1939. the much earlier statutory term 'association of individuals' was given up by the legislature for the reason .....

Western Agencies (Madras) Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2003)86ITD462(Mad.)

..... with it, by necessary implication, all the ancillary and incidental powers which are necessary to make the exercise of the substantive power fully effective. the parliament which amended the it act in the year 1970 must be presumed to have knowledge about the decision of the supreme court with reference to the powers of the tribunal under section 254 ..... here that the hon'ble supreme court has dealt with section 22 regarding powers of the said tribunal in respect of recovery of debts due to banks and financial institutions act (51 of 1993) and section 53 of the foreign exchange regulation act, 1973 and section 169 of the motor vehicles act, 1988. in all the cases ..... on oath; (c) compelling the production of books of account and other documents; and therefore, the combined reading and plain interpretation of all these provisions of the it act above, would emerge that the tribunal is vested with powers of a civil court under cpc when trying a suit as stated above the proceedings before it are .....

Agro Pipes (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Madras

..... from the statute) and it is difficult to say why, when such deduction yields a negative figure of profits, it cannot be a 'loss' as generally understood". the institute of chartered accountants of india's ex-pert advisory committee has also published its opinion in respect of the loss in the chartered accountant july, 1991, issue at p. 68 ..... provisions of s. 205(1) of the companies act, 1956. therefore, the meaning given to the terms 'loss' or 'depreciation' under the companies act shall be applied to the it act, 1961, the word 'loss' in proviso (b) to s. 205(1) would include depreciation. if the depreciation is to be excluded the legislature would have used the term ' ..... lays down as under : "if the company has incurred any loss in any previous financial year or years, which falls or fall after the commencement of the companies (amendment) act, 1960, then the amount of the loss or an amount which is equal to the amount provided for depreciation for that year or those years whichever is less, .....

Gift Tax Officer Vs. Dr. V. Srinivasan

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2002)81ITD182(Mad.)

..... the transfer of property act is different from the expression of transfer of property used in section 2(xxiv) of the gt act for the reason that the amendment made in the it act have not been carried out in the gt act so as to include the transactions of the type described in section 53a of the transfer of property act ..... (2) full consideration had already been received by the assessee in the form of equipments by book adjustments on 31st march, 1984. (3) the recent amendment of section 2{47)(v) of the it act, contemplates any transaction involving the allowing of possession of any immovable property to be taken or retained in part-performance of a contract of the nature referred ..... , stated that since delivery of property has taken place on 13th april, 1981, there is no gift in 1989. he also referred to amendment to section 2(47)(v) of the it act and section 27 of the it act as well as the explanation inserted by the finance act, 1987, w.e.f. 1st april, 1988.5. we have considered the rival .....

V. Bhaskaran Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2002)83ITD614(Chennai)

..... 1961) 42 itr 163 (sc) had considered the term 'no appeal shall lie' with reference to the content of the provisions of the it act, 1922, that stated that 'no appeal shall lie unless the tax has been paid'. he contended that the apex court had held that ..... (c) an order passed by a cit under section 263 or under section 272a or an order passed by him under section 154 amending his order under section 263 or an order passed by a chief cit or a director-general or a director under section 272a. ..... individual and has prayed for stay of demand of tax raised on him consequent to assessment framed under chapter xiv-b of the it act, 1961 (hereinafter referred to as the act). the prayer for stay of tax is of rs. 56,698,100 has been ..... rectifying any mistake apparent from the record, amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the ao : provided that an amendment which has the effect of enhancing an assessment .....

V.N. Sudhakaran Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2002)83ITD159(Chennai)

..... 78,29,323 that has raised on him consequent to an assessment that is framed on him with reference to the provisions contained in chapter xiv-b of the it act, 1961 (hereinafter referred to as the act). the assessment has been framed under section 158bc of the act consequent to a search made on his premises. the assessee ..... interest of revenue and other orders of assessment. part 'f' covers general topics like tax to be paid notwithstanding reference, etc.'; 'execution for costs awarded by supreme court'; 'amendment of assessment on appeal'; 'exclusion of time taken for copy' and definition of 'high court'. the chapter xx as indicated above has six parts and each part covers a ..... to, the preliminary objection as raised and as vehemently insisted upon may not have been taken up at all. sec.249(4) of the act underwent an amendment by the taxation laws (amendment) bill, 1973 that was introduced in the parliament on 9th may, 1973. the bill as was placed in february, 1973 the views of the review .....