Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)288ITR226(Hyd.)
..... such interpretation would affect the very purpose of chapter xiv b. the crucial omission in the charging sections and ambiguity makes the object of harmonisation, liberal construction, unattainable. on the other hand, we hold that the plain intention of the legislature was never to levy surcharge on undisclosed income of a block ..... retrospective application, as amendment affects substantive right. it was also held that substituted legislation cannot be said to have retrospective operation as golden rule of construction applies even to a substituted legislation and a substituted legislation cannot be held to be retrospective in the absence of any thing in the enactment ..... contemporaneous exposition" cannot be applied to ongoing statutes and the understanding of the chief commissioners of income-tax cannot be looked at as an aid for construction of the statutes. thus, the suggestions of the national conference of chief commissioners of income-tax are not relevant in this context.8.17 reference .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1986)15ITD26(Hyd.)
..... consideration, therefore, is whether or not the assessee-company manufactures or produces articles or things, there being no suggestion that the assessee is engaged in the business of construction. this has to be examined on the facts of the case, viz., that the assessee is mainly engaged in carrying out large scale repairs to ships though the ..... undertaking will be entitled to investment allowance under section 32a(1) if the new machinery or plant is installed after 31-3-1976 for the purpose of business of construction, manufacture or production of an article or thing not being an article or thing specified in the list in the eleventh schedule of the act. the main point ..... the point at issue, but there is no bar in seeking guidance from the same.15. we may examine the case from another angle. what is the rule of construction of statute the object of which is to encourage industrialisation according to the decision of the punjab high court in webbing & belting factory (p.) ltd. v. cit [1961 .....
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