Judgment Search Results Home > Cases Phrase: marriage laws amendment act 2003 Court: income tax appellate tribunal itat delhi Page 3 of about 492 results (0.144 seconds)

Mohan Meakins Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)101TTJ(Delhi)359

..... the direct tax laws (amendment) act, 1987 w.e.f ..... in pursuance of any order of assessment or penalty and such amount or any part thereof having been found in appeal or other proceeding under this act to be in excess of the amount which such assessee is liable to pay as tax or penalty, as the case may be, under the act, the government shall pay to such assessee simple interest at the rate on the excess amount from the date on which such amount was paid ..... judgments of various high courts and of the supreme court in the cases referred to above is that interest payable to the assessee, as provided in the act is also an amount and if the same is not paid on the date when it is due, the assessee is equally entitled to interest on the ..... cit (supra) and held that even if there is no provision for payment of compensation for the delay in granting refund of interest the act itself recognized in principle the liability of the department to pay interest when excess tax was retained and the same principle should be extended ..... ao had not considered such claim while deciding the assessee's request for rectification under section 154 of the act, the learned cit(a) directed the ao to decide such claim of the assessee keeping in view the ..... observed thatthe act recognizes the principle that a person should only be taxed in accordance with law and hence where excess amounts of tax are collected from an assessee or any amounts are wrongly withheld from an assessee without authority of law, the revenue .....

Badri Vishal Aggarwal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)105TTJ(Delhi)418

..... considered view, after amendment of section 147 by direct tax laws (amendment) act, 1987 w.e.f. ..... facts in brief are that during the course of assessment under section 143(3)/147 of the act, the ao observed that assessee had sold jewellery to surendra khanna & sons and a draft ..... reserves the right to add, alter, amend, modify or withdraw any ground of appeal ..... the rival contentions, carefully gone through the orders of the lower authorities, various materials placed on record as well as the statement of the assessee recorded by the ao under section 131 of the it act, 1961. ..... ), new delhinot in the name of the assessee-appellant.when there was no reason with the department regarding assessee escaping the income, the notice under section 148 in question is not in accordance with the law.7. ..... matter of order passed under section 143(3)/147 of the it act, 1961. 1. ..... initiating reassessment proceedings by issue of notice under section 148, but mere these statements are not sufficient for making addition in the hands of the assessee under section 143(3)/147 of the act. ..... account was sufficient to form a belief that income of assessee had escaped assessment, and therefore, ao was justified in initiating reassessment proceedings under section 147 by issue of notice under section 148 of the act.9a. ..... to believe that income of the assessee received through the very same bank account has escaped assessment, therefore, reopening by the ao was well within his jurisdiction and as per the provisions of act. .....

S.A. Growth Fund (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

..... this is clear from notes on clauses 'direct tax laws (amendment) bill, 1987' reported in (1987) 168 itr 305 (st.) ..... the above-mentioned amendment was duly incorporated in the it act w.e.f.12th january, 1981 ..... cit was debarred from such an enquiry not only under the bearer bonds act but also under the circular issued by the cbdt itself explaining the provisions of that statute.the asstt ..... 5 of special bearer bonds (immunity & exemptions) act, 1981, inserted sub-cl. ..... 5(b) of the bearer bonds act inserted a new sub-cl. ..... 88,50,000 accepting the assessee's claim that immunity from enquiry was available to the assessee also because of the phrase 'otherwise acquired' found in s.3(1)(a) of the bearer bonds act.as regards the premium of rs. ..... 68 of the it act, 1961 (for short 'the act').the cit(a) deleted the addition of rs ..... it had acquired 885 special bearer bonds issued by the central government under the special bearer bonds (immunities and exemptions) act, 1981 (for short the "bearer bonds act"). ..... 10 from the act itself. ..... 10 of it act exempting "premium on redemption of special bearer bonds, 1991" ..... 10(15)(ib) of the it act." dr. ..... 10(15)(ib) in the bearer bonds act. ..... 10 of it act as under : the learned cit(a) was, therefore, in error in thinking that there was no reference to s ..... any such scheme must, therefore, refer to the provisions of the act. ..... 2000 per bond for 885 bonds : 17,70,000 ------------ the assessee claimed total exemption of the above sum in terms of the bearer bonds act. ..... 10(15)(i) of it act.2. .....

Deputy Commissioner of Income Tax Vs. Oriental General Insurance Co.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)92TTJ(Delhi)300

..... of hearing before us, the authorised representative of the assessee pointed out that the provisions of section 43b have been incorporated in rule 5(a) of the first schedule to it act, 1961, by direct tax laws (amendment) act, 1987, w.e.f. ..... in the explanatory notes had no statutory basis : "to enable the general insurance corporation and its subsidiaries to play more active role in capital markets for the benefit of policyholders, the finance act has amended sub-rule (b) of rule 5 of the first schedule to provide for exemption of the profits earned by them on the sale of investment. ..... in that case, the hon'ble supreme court held that certain amount set apart which is treated to be an expenditure for the purpose of insurance act, 1938, cannot be treated so for the purpose of rule 5(a) of the first schedule for the reason that the amount set apart did not fall to be considered as an expenditure in the ordinary ..... counsel argued that the finance act, 1988, had not amended sub-rule (b), but omitted ..... the learned counsel, however, pointed out that the assessee had not acted arbitrarily or unreasonably in this respect.the entries made in the books of account in this behalf were purely based on guidelines for writing off/writing down investments as circulated by general insurance corporation ..... the learned counsel argued that there were several cases under it act where the courts found that the legislature had misfired and held that the situation could not be ..... cit (2003) 259 itr 149 (guj) .....

Harnam Singh Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1987)22ITD561(Delhi)

..... 263 of the act as it existed prior to its amendment by the taxation laws (amendment) act, 1984 w.e.f.1-10-1984, no order made under section 148/147 could be revised by the commissioner under section 263, in view of the prohibition contained under sub-section (2) of section 263, which stipulated that no order shall be made under sub-section (1) to revise an order of re-assessment made under section 147 of the act. ..... any time in the case of an order which has been passed in consequence of, or to give effect to, any finding or direction contained in an order of the appellate tribunal, the high court or the supreme court.in the amendment though sub-section (1) of section 263 remains unchanged an explanation is attached to it which provides that for the purpose of sub-section (1), an order passed by the income-tax officer shall include- (a) an order of assessment ..... though she claimed the jewellery to be her personal property and in her possession ever since her marriage before partition of india in 1947, the department took the view that in the absence of definite source of ..... customary in the families to which i belong that the ladies at the time of marriage and thereafter on certain occasions like birth of a son, birthdays etc. ..... me and that keeping in view the status of the two families, customs in the societies to which we belong and the fact that my marriage took place in 1939, the jewellery in possession of my wife was reasonable. ..... her in-laws and parents at the time of marriage. .....

Haryana Wareshousing Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)75ITD155(Delhi)

..... such provision has been made and from clauses attached to the direct tax laws (amendment) act, 1987, it is very clear that provisions are mandatory. ..... relating to advance payment of tax have undergone certain significant changes on account of amendments made by the direct tax laws (amendment) act, 1987. ..... the statute through direct tax laws (amendment) act, 1987. ..... and 234c have been brought on statute by the direct tax laws (amendment) act, 1987, w.e.f. ..... by the direct tax laws (amendment) act, 1987, w.e.f. ..... 209 of the act, after amendment by the amending act, 1987, lays down the method of computing advance tax payable during a financial year as follows : (a) where the calculation is made by the assessee for paying the advance tax, either of his own accord or on the ..... income-tax calculated under any of the above clauses shall, in each case, be reduced by the amount of income-tax which would be deductible at source under any provisions of the act on any income which has been included in the current/total income determined under any of the above clauses.13. ..... no need to file any statement/estimate of advance tax payable, as was required before amendment by the act of 1987. ..... proposition laid down by the aforesaid decision is that the law does not envisage an assessee to predicate the position after ..... it is difficult on the plain language of the section to hold that the law envisages the assessee to predicate the final assessment and expect him to pay the tax on that basis to avoid the liability .....

income-tax Officer Vs. Surjan Singh

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1983)3ITD438(Delhi)

..... government may, having regard to the extent of and scope for, urbanisation of that area and other relevant considerations, specify in this behalf by notification in the official gazette ; when the amendment was introduced, the then finance minister, who also happened to be the prime minister, spoke as follows: honourable members are aware that we are at present examining practical means of imposing a ceiling on ..... ) 69 as also the select committee report of the taxation laws amendment bill, 1969 (gazette of india extraordinary, part ii, section 2, dated 3-8-1970 at 766) to ..... be mentioned that earlier the district board was the local body established under the punjab district board act, which was applicable to the estate of delhi, which was treated as part 'c state until the constitutional amendment abolishing the different types of states.delhi became union territory and, therefore, it became necessary to ..... act to consolidate and amend the law ..... ) 90) from a careful reading of the idea behind the amendment introduced by the finance act, 1970, one thing appears to be clear, namely, that the definition of 'capital asset' was enlarged so as to bring within its fold some lands, which ..... bill read as follows: sub-clause (a) seeks to amend clause (14) of section 2 of the income-tax act which defines the term 'capital asset'. ..... however, in view of the proposed amendment to section 47 of the income-tax act, under clause 11 of the bill, capital gains arising from transfers of such land effected .....

Assistant Commissioner of Vs. Vardhman Die Caster

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1997)61ITD213(Delhi)

..... sold or otherwise transferred by the assessee to any person, the investment allowance originally allowed shall be deemed to have been wrongly allowed and the assessing officer may, notwithstanding anything contained in this act recompute the total income of the assessee for the relevant previous year and make the necessary amendments and the provisions of section 154 shall, so far as may be, apply thereto. ..... on the same footings as a retrospective piece of legislation and the legal fiction which goes with retrospective legislation cannot arise in the case of a supreme court decision declaring what the law of the land is.but it does not obliterate the existence of such debate, doubt or conflict prior to such decision. ..... if for establishing the jurisdictional fact, inquiry into a debatable issue of fact and law is to be gone into that jurisdiction is inherent in the exercise of power under section 155.5.1 the learned departmental representative also placed reliance on judgment of hon'ble calcutta high court ..... matter may require a fresh look.6.1 the learned counsel submitted that the effect of a supreme court decision by virtue of the provisions of the constitution is that the supreme court declares the law of the land and it must be held to have been always the ..... departmental representative does not lay down the correct law as the earlier two judgments of hon'ble calcutta high court referred to in the preceding para were not even brought to the notice of hon'ble calcutta high court in .....

Eicher Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)83TTJ(Delhi)673

..... , 1993 should not be considered in those cases in which the deferment of sales-tax scheme was launched by the state government by bringing an amendment in the sales tax act, is not acceptable to us inasmuch as this was issued to overcome certain difficulties faced by the assessee arid the department in giving proper effect to the aforesaid ..... 4.1 the cit(a) has grossly erred on facts and in law in observing inter-alia, that the liability to the premium could be said to arise only in the year of redemption and that till such time that the debentures are redeemed, the same is contingent liability." ..... the cit(a) has grossly erred on facts and in law in rejecting the appellant's claim for deduction of ..... it is equally wrong to say that requirement of law in this regard stood dispensed with in the assessee's case as no such concessions can be read into the facts obtaining in this ..... cit(a) has grossly erred on facts and in law in not holding that maharashtra government had granted deferral of outstanding sales-tax and, therefore, the same should be deemed to have been paid under section 43b of the it act, 1961. 4. ..... similarly, the other case law relied by the assessee-company, it is stated with respect, is distinguishable and is of no assistance to ..... also gone through the various papers as also the case law relied by the learned counsel. ..... (a) has grossly erred on facts and in law in confirming disallowance of rs. ..... (a), new delhi has grossly erred on facts and in law in confirming an addition of rs. .....

income Tax Officer Vs. Ekta Promoters (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)117TTJ(Delhi)289

..... . the above section was inserted by the finance act, 2003 with effect from first day of june, 2003 and the only amendment brought to this section is an amendment by taxation laws (amendment) act, 2003 whereby in sub-section (1) the words "two-third per cent", were substituted by the words "one-half per cent" w.e.f ..... the hon'ble high court decided the question in favour of the revenue and, thus, the matter went to hon'ble supreme court and their lordships of hon'ble supreme court have observed that the law is well-settled that the it act as it stands amended on the first day of april of any assessment year must apply to that assessment year ..... . to contend that according to well-settled law, the it act, 1961 as it stands amended on the first day of april of any assessment year applies to that assessment year and any amendment in the act or the rules which come into force after the first day of april of an assessment year would not apply to that assessment year even if the assessment is actually made after the amendments come into force, learned authorised representative relied on the following decisions:om sindhoori capital .....