Array ( [0] => ..... and wholesale orders of transfer of all proceedings against a particular assessee are saved by the explanation to sub-section (7a) which was added by the indian income-tax (amendment) act of 1956 to get over the situation created by the decision of the supreme court in bidi supply co. v. union of india & others.in our considered view, ..... out of the word 'approval' used in section 158bg. section 158bg underwent a change by the income-tax (amendment) act, 1997 and finance (no. 2) act, 1998 from 1-1-1997 and 1-10-1998 respectively. the old section before amendment stood as under : the order of assessment for the block period shall be passed by an assessing officer not ..... further said that the power conferred on the supreme court by article 136 of the constitution being an extraordinary power, its exercise should be limited to cases of patent and glaring errors of procedure, or where there has been a failure of justice because of the violation of the rules of natural justice or like causes but ..... [1] => ..... therefore, the profit arising from the sale of agricultural land is agricultural income within the meaning of section 2(1)(a). agricultural income is patently exempt from income-tax. according to the amendment made to section 2(14) as referred to above the same profit would be capital gains and would be liable to tax. it is to ..... lordships made the following observation:- we are somewhat surprised that the tribunal and the appellate assistant commissioner should have held that section 2( 14)(iii) of the act was not on the statute book on the basis of a ruling of the bombay high court which had its operation only in the state of maharashtra. in ..... [1981] 128 itr 87, hon'ble the bombay high court was concerned with the definition of 'capital asset' in section 2(14)(iii) as amended by the finance act, 1970. by this amendment agricultural lands situate within municipal limits were included in the definition of capital asset. at the same time agricultural lands situate within 8 kms. of certain ..... [2] => ..... of, or the right to use, any copyright of literary, artistic or scientific work including cinematographic films, or films or tapes used for radio or television broadcasting, any patent, trade mark, design or model, plan, secret formula or process, or for the use of, or the right to use, industrial, commercial or scientific equipment, or ..... for avoidance of double taxation signed on 18th march, 1959. the terms of the agreement have been amended and amendments notified vide notification. no. gsr 680(e) dated 26th august, 1985. in view of section 90 of the income-tax act, 1961, the provisions of the double taxation avoidance agreement have the overriding effect over the provisions ..... chargeable under the head "capital gains") for - (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent invention, model, design, secret formula or process or trade mark or similar property; (ii) the imparting of any information concerning the working of, or the use of, ..... [3] => ..... the case of keshavlal jethalal shah v. mohanlal , hon'ble supreme court held that the wider jurisdiction cannot be invoked against an order made before the commencement of the amending act. in the case of united provinces v.mst. atiqa begum it was held that a retrospective statute which affects the rights in existence is not rightly construed to affect ..... having been passed without any authority of law. as the revenue has brought out the jurisdictional defect to the notice of the tribunal by filing present m.a., the patent legal error committed by tribunal has to be rectified under the provisions of section 254(2), which enables tribunal to rectify any mistake apparent from the record. the provision ..... tribunal rendered in the appeal i.e. ita no. 5301/del/2003 dt. 22nd sept., 2006 and from ma of the department being m.a. no. 97/del/2002 are being culled out and narrated as below.3.1 the assessee trust filed application in form no. 10g for seeking renewal for approval under section 80g of ..... [4] => ..... the present reference applications moved by the revenue arraying as respondent a person who was already dead are not invalid or non est and can be permitted to be amended by substituting the names of the legal representatives in place of the assessee. we, therefore, allow the application moved on behalf of the applicant and direct that ..... learned counsel for the assessee told us that no intimation of the death of the deceased was ever given to the commissioner of wealth-tax. therefore, it is patent that when the present petitions were moved by the commissioner, he had no knowledge that the assessee had died.4. the learned counsel for the assessee contended that ..... particular proceedings. in the form no. 37 prescribed under the income-tax rules for the presentation of a reference application under section 256(1) of the income-tax act, 1961, though there is a column indicating the names of the parties i.e. the applicant and the respondent, there is nothing anywhere to indicate that an erroneous ..... [5] => ..... a mistake or defect in the notice which is contrary to the mandatory provisions of the statute is curable under section 292b of the act.42. he submitted that section 292b was introduced by the taxation laws (amendment) act, 1975 and in para 47 of the explanatory notes vide circular no. 179, dt. 30th sept., 1975, (1976) 102 ..... (supra) noted in detail the distinction between initiating the assessment itself and exercising powers for making an assessment. on a careful reading of the decision it is patently clear that issuing of notice calling for the return results in initiation of the assessment and therefore, any illegality in validly initiating the assessment would vitiate the entire ..... singh , the rajasthan high court in the case of cit v. gyan prakash gupta (supra) and the third member decision in ashok kumar v. ito (2002) 74 ttj (asr) (tm) 702 : (2002) 80 itd 33 (asr) (tm).72. he argued that in response, it is respectfully submitted that the submission of the revenue that non-issuance of ..... [6] => ..... under section 11. consequent to the interpretation of section 2(15) by hon'ble the supreme court in dharmodayam co. and surat art silk cases (supra) the legislature amended section 13 by adding to sub-section (1) clause (bb) as follows: - 13(1) nothing contained in section 11 or section 12 shall operate so as to ..... have raised a grievance about the political advancement and that appears to be one of the reasons for him to hold that the society's objects are political. patently the society is not engaged in any political activity in the country. political advancement means advancement of political awareness, imparting the people of the country with knowledge ..... character of the present society and, in our view, the larned counsel is right in contending so. charitable purpose has been defined in section 2(75) of the act as under : - "charitable purpose" includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility not involving the ..... [7] => ..... the section. it is irrelevant to consider the place where the information was imparted.that would be relevant only for the situs of accrual of income before the amendment brought in 1976. after the introduction of clause (vi) that has become irrelevant.20. the decision of the andhra pradesh high court in the case of ..... means payments of any kind received as consideration for the use of, or for the right to use, any copyrights of literary, artistic or scientific works, cinematographic films, patents, models, designs, plans, secret processes or formulae, trade marks or for the use of or for the right to use, industrial, commercial or scientific equipment or for ..... these were not relevant.18. we would now consider the submissions made by shri ganesan. these submissions are also relevant for considering, whether, under the income-tax act, any income accrues or arises in india. the discussion in the above paragraphs is only for the limited purpose of finding out, whether the indo-french agreement ..... [8] => ..... finding out the profit and, therefore, the income must be said to belong only to the industrial undertaking. he further held that, by the finance act of 1990, an amendment was brought in treating the receipts both of cash compensatory support and of sale of import licences, retrospectively as profits and gains of business which meant ..... as stated earlier, the complexion of the controversy is now totally changed, since we find clearly what the legislative intent was even earlier to the retrospective amendments made by the finance act, 1990.in view of this, case laws are not discussed.33. on the other grounds, as also in the grounds in the revenue's appeal ..... income-tax (appeals ) has held that the entire expenditure was of the nature of revenue expenditure and he, therefore, deleted the addition. the expenditure is so patently of a revenue character that the learned departmental representative did not find any argument in support of this plea and frankly stated that he has nothing to say on ..... [9] => ..... or by any other name, such crediting shall be deemed to be credit of such income to the account of the payee. according to the learned departmental representative, this amendment is of a clarificatory nature and will, therefore, have retrospective effect.4. a similar controversy had come before me in doab food & general industries ltd. v. ..... oblige it to pay interest under section 201(1a).5. as regards the circular of the board, it is patently of the nature of the explanation referred to above which the legislature inserted by the finance act, 1987 with effect from 1-6-1987 and certainly enlarged the scope of section 194a and consequently places a higher ..... these explanatory notes printed at page 1195 of taxman's direct tax circulars, volume iii, 1988 edition states that these amendments will come into force from 1-6-1987. the board did not say that the amendment to section 194a by the addition of the aforesaid explanation would have retrospective effect. the explanation enlarges the scope of ..... [10] => ..... made the payment but was the exercise of profession in arguing the case in india. referring to the provisions of section 3 of the it act, 1961, prior to the amendments carried on by the finance act, 1999, it was stated that first proviso to section 3(2) allowed liberty to the assessee to adopt more than one period as ..... including any lump sum consideration but excluding any consideration which would be the income of the recipient chargeable under the head 'capital gains") for (iii) the use of any patent, invention, model, design, secret formula or process or trade-mark or similar property; (iva) the use or right to use any industrial, commercial or scientific equipment but ..... channels, therefore, it amounted to the user of a equipment by the customers of the assessee which could be the subject-matter for taxation only from asst. yr. 2002-03 onwards. in support of this argument the reliance was placed on the decision of chennai bench in the case of raj television network ltd. (supra). apart ..... [11] => ..... counsel for the assessee submitted that learned d.r. overlooked the statutory provisions of sections 391 to 395 of the companies act. the aforesaid provisions were introduced as a result of amendment made by the companies amendment act 31/65 to give effect to the recommendation of daftri shastri committee based on the vivion ghosh commission of enquiry. the said ..... similar issue was considered by ahmedabad bench of the tribunal in the case of industrial machinery associates v. cit [2002] 81 itd 482 (ahd.), wherein the bench observed as under : "in the definition of 'section 2 of the act' a new clause (42c) has been introduced defining slump sale with effect from 1-4-2000. in the ..... the amount of gain, arising from the transfer of the asset. in such a situation, as per the provisions contained in section 50 of the income-tax act, as amended from 1-4-1998, the entire difference between the sale consideration and the wdv in respect of the depreciable asset only has been made liable for short ..... [12] => ..... for assessment year 1979-80 the division bench of the hon'ble high court held in favour of the assessee on the basis of the retrospective amendment to section 28 of the act by the finance act, 1990 making such receipts taxable as business profits.84. on appeal to the hon'ble supreme court, their lordships reversed the view of the high court ..... , tractors etc. were motor vehicles and taxable under the relevant state motor vehicles taxation acts. their lordships considered various state motor vehicles taxation acts before amendment and after amendment and ultimately held that dumpers and lorries through registerable under the motor vehicles act were not taxable under the bihar taxation act as long as they were working solely within the premises of the respective owners, but ..... [13] => ..... or profession. this was, however, subject to certain limits and conditions prescribed in rule 6c of the it rules, 1962. rule 6c was, however, omitted by the it (amendment) rules, 1973, w.e.f. 1st april, 1972.subsequently, in order to place a check on lavish expenditure on maintenance of a guest-house, section 37(4) was ..... in the occasion on which they are used, and the object to be attained'. the courts have declined 'to be bound by the letter, when it frustrates the patent purposes of the statute. in the words of shah, j. : 'it is a recognized rule of interpretation of statutes that expressions used therein should ordinarily be understood ..... maintenance of a guest-house other than holiday homes in computing the profits and gains of business or profession. subsequently, section 37(5) was inserted by the finance act, 1983, with retrospective effect from 1st april, 1979. the aforesaid section contained a definition of a guest-house.a reading of the relevant statutory provisions shows that there ..... [14] => ..... , the appellant's failure to furnish the aforesaid statement of advance tax as per the provisions of section 209a(l)(a) of the act is found to be patent and well established. as discussed above, for such failure of the appellant, no reasonable cause could be made out by or on behalf of the appellant. as regards the contention ..... the tribunal. on a reference to the high court it was contended by the assessee that the income-tax officer had referred to section 271(l)(c) prior to its amendment, that the provision has been deleted and hence the income-tax officer should not have proceeded in the matter and imposed the penalty under section 271(l)(c) of the ..... act. this is what their lordships observed in rejecting the reference application." (at page 540 of the headnote) : "that the income-tax officer might have made a reference to an un-amended provision on the basis of facts which were relevant but the tribunal had found that ..... [15] => ..... 1992-93, the separate returns were filed and separate assessments were completed and separate deductions were allowed to the five minor children. the assessee was well aware of the amendment on the statute. therefore, he himself clubbed the income of the minor children under section 64(1 a) and filed one return. accordingly, one deduction has to be ..... of the ao. it was further stated that exemption allowable under section 10(32) has already been allowed by the ao. therefore, there is no provision in the act to allow a separate deduction on account of each child. accordingly it was requested to restore the order of the ao. on the other hand, the learned counsel ..... from plying of truck, capital gains, and interest/dividend. the assessee had also included income of five minor children from interest/dividend under section 64(1a) of the it act. while computing the income the assessee claimed deduction under section 80-i at rs. 35,000 @ rs. 7,000 per minor children. the ao allowed the deduction of ..... [16] => ..... in the case of manohar lal v. dy. cit (1995) 83 taxman 255 (jp)(mag). it may be mentioned that the legislature amended the provisions of section 275 through section 50 of taxation law (amendment) act, 1970 (42 of 1970), newly prescribing a limitation period for imposition of penalty. the change in law has been elaborately explained in the ..... taxpayers, the wanchoo committee recommended that in order to remove hardship, the penalty under section 271(1)(c) should be relatable to the tax payable.the act was, therefore, amended and subsequently the penalty under section 271(1)(c) became relatable to the tax payable. it was stated that the penalty was for the purpose of bending ..... be visited with stringent punishment of heavy penalty." 41. the same bench considered this issue in the case of dillu cine enterprises (p) ltd. v. addl. cit (2002) 80 jtd 484 (hyd). the bench ordered as follows : "we find force in the argument of the learned counsel for the assessee that the object of the provisions ..... [17] => ..... aforesaid, but which were returned back with the remarks "no such concerns exists". on being confronted the assessee filed affidavits wherein it was stated that these persons had acted as name-lenders for the assessee's companies for a consideration of rs. 100 on each rs. 1,00,000 deposited in their bank accounts.18. the ultimate ..... stage. in our considered view there is no doubt that primary statement recorded on 20th june, 1996 is a good piece of evidence for the purpose of assessment under it act, but if it is. rebuttable then the rebuttal should be considered and if it is found satisfactory, then the retraction should be admitted. if by omission or ..... bank accounts were disclosed prior to the search. therefore, any entry made in the bank account can be considered while completing the assessment under section 158bc of the it act as the provisions are very clear.15. next addition is on account of jewellery found during the course of search. the ao was not satisfied with the explanation ..... [18] => ..... madhya pradesh high court was upheld in cit v. suresh chandra mittal (2000) 241 itr 124 (mp). it was further submitted by the learned authorised representative though amendment to section 9(1)(ii) were brought in 1983, still the department clarified the legal position only in june, 1994, by issuing circular no. 685. even ..... withdrawal of the appeal the question referred by the supreme court to the larger bench on the issue of extra territorial application of the provisions of the it act remained inconclusive and thereby strengthen the argument of the existence of bona fide belief.54. the decision cited by the learned authorised representative on l.g. ..... have not created any harm or grievance to the appellant. it was further submitted that these defects can be cured as per provisions of section 292b of the it act, therefore, the notices issued by the ao were valid notices. in support of these contentions, the learned departmental representative placed reliance on the decisions in cit v ..... [19] => ..... . volkart bros. and ors. (1971) 82 itr 50 (sc) held that a mistake apparent from the record within the meaning of section 154 of the act must be an "obvious" and "patent" mistake and not something which can be established by a long drawn process of reasoning on points on which there may be conceivably two opinions. a decision on ..... is contrary to the binding decision of the hon'ble delhi high court in the case of karan & co. v. itat (2002) 243 itr 131 (del) wherein at p. 135, their lordships observed : "in our view, the amendment of an order does not mean obliteration of the order originally passed and its substitution by a new order." "the scope and ..... 1) is the effective order so far as the appeal is concerned. any order passed under section 254(2) either allowing the amendment or refusing to amend gets merged with the original order passed. the order as amended or remaining unamended is the effective order for all practical purposes. the same continues to be an order under section 254(1). ..... ) Patents Amendment Act 2002 Section 32 Amendment of Section 67 - Court Income Tax Appellate Tribunal Itat Delhi - Page 2 - Judgments | SooperKanoon Skip to content


Judgment Search Results Home > Cases Phrase: patents amendment act 2002 section 32 amendment of section 67 Court: income tax appellate tribunal itat delhi Page 2 of about 165 results (0.120 seconds)

Dec 02 1999 (TRI)

Kailash Moudgil Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)72ITD97(Delhi)

..... and wholesale orders of transfer of all proceedings against a particular assessee are saved by the explanation to sub-section (7a) which was added by the indian income-tax (amendment) act of 1956 to get over the situation created by the decision of the supreme court in bidi supply co. v. union of india & others.in our considered view, ..... out of the word 'approval' used in section 158bg. section 158bg underwent a change by the income-tax (amendment) act, 1997 and finance (no. 2) act, 1998 from 1-1-1997 and 1-10-1998 respectively. the old section before amendment stood as under : the order of assessment for the block period shall be passed by an assessing officer not ..... further said that the power conferred on the supreme court by article 136 of the constitution being an extraordinary power, its exercise should be limited to cases of patent and glaring errors of procedure, or where there has been a failure of justice because of the violation of the rules of natural justice or like causes but .....

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Jul 24 1990 (TRI)

income-tax Officer Vs. Mohd. Hanif Gaddi

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1990)34ITD35(Delhi)

..... therefore, the profit arising from the sale of agricultural land is agricultural income within the meaning of section 2(1)(a). agricultural income is patently exempt from income-tax. according to the amendment made to section 2(14) as referred to above the same profit would be capital gains and would be liable to tax. it is to ..... lordships made the following observation:- we are somewhat surprised that the tribunal and the appellate assistant commissioner should have held that section 2( 14)(iii) of the act was not on the statute book on the basis of a ruling of the bombay high court which had its operation only in the state of maharashtra. in ..... [1981] 128 itr 87, hon'ble the bombay high court was concerned with the definition of 'capital asset' in section 2(14)(iii) as amended by the finance act, 1970. by this amendment agricultural lands situate within municipal limits were included in the definition of capital asset. at the same time agricultural lands situate within 8 kms. of certain .....

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May 31 1991 (TRI)

Swadeshi Polytex Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)38ITD328(Delhi)

..... of, or the right to use, any copyright of literary, artistic or scientific work including cinematographic films, or films or tapes used for radio or television broadcasting, any patent, trade mark, design or model, plan, secret formula or process, or for the use of, or the right to use, industrial, commercial or scientific equipment, or ..... for avoidance of double taxation signed on 18th march, 1959. the terms of the agreement have been amended and amendments notified vide notification. no. gsr 680(e) dated 26th august, 1985. in view of section 90 of the income-tax act, 1961, the provisions of the double taxation avoidance agreement have the overriding effect over the provisions ..... chargeable under the head "capital gains") for - (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent invention, model, design, secret formula or process or trade mark or similar property; (ii) the imparting of any information concerning the working of, or the use of, .....

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Jan 31 2008 (TRI)

income Tax Officer Vs. Shree Vallabh Smarak Bhojanalaya

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)114TTJ(Delhi)683

..... the case of keshavlal jethalal shah v. mohanlal , hon'ble supreme court held that the wider jurisdiction cannot be invoked against an order made before the commencement of the amending act. in the case of united provinces v.mst. atiqa begum it was held that a retrospective statute which affects the rights in existence is not rightly construed to affect ..... having been passed without any authority of law. as the revenue has brought out the jurisdictional defect to the notice of the tribunal by filing present m.a., the patent legal error committed by tribunal has to be rectified under the provisions of section 254(2), which enables tribunal to rectify any mistake apparent from the record. the provision ..... tribunal rendered in the appeal i.e. ita no. 5301/del/2003 dt. 22nd sept., 2006 and from ma of the department being m.a. no. 97/del/2002 are being culled out and narrated as below.3.1 the assessee trust filed application in form no. 10g for seeking renewal for approval under section 80g of .....

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Aug 26 1988 (TRI)

Commissioner of Wealth-tax Vs. Krishan Kumar Agarwal

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1989)28ITD530(Delhi)

..... the present reference applications moved by the revenue arraying as respondent a person who was already dead are not invalid or non est and can be permitted to be amended by substituting the names of the legal representatives in place of the assessee. we, therefore, allow the application moved on behalf of the applicant and direct that ..... learned counsel for the assessee told us that no intimation of the death of the deceased was ever given to the commissioner of wealth-tax. therefore, it is patent that when the present petitions were moved by the commissioner, he had no knowledge that the assessee had died.4. the learned counsel for the assessee contended that ..... particular proceedings. in the form no. 37 prescribed under the income-tax rules for the presentation of a reference application under section 256(1) of the income-tax act, 1961, though there is a column indicating the names of the parties i.e. the applicant and the respondent, there is nothing anywhere to indicate that an erroneous .....

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Mar 09 2007 (TRI)

Smt. Krishna Verma Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)107ITD1(Delhi)

..... a mistake or defect in the notice which is contrary to the mandatory provisions of the statute is curable under section 292b of the act.42. he submitted that section 292b was introduced by the taxation laws (amendment) act, 1975 and in para 47 of the explanatory notes vide circular no. 179, dt. 30th sept., 1975, (1976) 102 ..... (supra) noted in detail the distinction between initiating the assessment itself and exercising powers for making an assessment. on a careful reading of the decision it is patently clear that issuing of notice calling for the return results in initiation of the assessment and therefore, any illegality in validly initiating the assessment would vitiate the entire ..... singh , the rajasthan high court in the case of cit v. gyan prakash gupta (supra) and the third member decision in ashok kumar v. ito (2002) 74 ttj (asr) (tm) 702 : (2002) 80 itd 33 (asr) (tm).72. he argued that in response, it is respectfully submitted that the submission of the revenue that non-issuance of .....

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Sep 27 1989 (TRI)

income-tax Officer Vs. Servants of the People Society

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1989)31ITD426(Delhi)

..... under section 11. consequent to the interpretation of section 2(15) by hon'ble the supreme court in dharmodayam co. and surat art silk cases (supra) the legislature amended section 13 by adding to sub-section (1) clause (bb) as follows: - 13(1) nothing contained in section 11 or section 12 shall operate so as to ..... have raised a grievance about the political advancement and that appears to be one of the reasons for him to hold that the society's objects are political. patently the society is not engaged in any political activity in the country. political advancement means advancement of political awareness, imparting the people of the country with knowledge ..... character of the present society and, in our view, the larned counsel is right in contending so. charitable purpose has been defined in section 2(75) of the act as under : - "charitable purpose" includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility not involving the .....

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Jul 18 1990 (TRI)

income-tax Officer Vs. Munak Galva Sheets Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1990)35ITD304(Delhi)

..... the section. it is irrelevant to consider the place where the information was imparted.that would be relevant only for the situs of accrual of income before the amendment brought in 1976. after the introduction of clause (vi) that has become irrelevant.20. the decision of the andhra pradesh high court in the case of ..... means payments of any kind received as consideration for the use of, or for the right to use, any copyrights of literary, artistic or scientific works, cinematographic films, patents, models, designs, plans, secret processes or formulae, trade marks or for the use of or for the right to use, industrial, commercial or scientific equipment or for ..... these were not relevant.18. we would now consider the submissions made by shri ganesan. these submissions are also relevant for considering, whether, under the income-tax act, any income accrues or arises in india. the discussion in the above paragraphs is only for the limited purpose of finding out, whether the indo-french agreement .....

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Mar 25 1991 (TRI)

Mentha and Allied Products Pvt. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1992)43ITD33(Delhi)

..... finding out the profit and, therefore, the income must be said to belong only to the industrial undertaking. he further held that, by the finance act of 1990, an amendment was brought in treating the receipts both of cash compensatory support and of sale of import licences, retrospectively as profits and gains of business which meant ..... as stated earlier, the complexion of the controversy is now totally changed, since we find clearly what the legislative intent was even earlier to the retrospective amendments made by the finance act, 1990.in view of this, case laws are not discussed.33. on the other grounds, as also in the grounds in the revenue's appeal ..... income-tax (appeals ) has held that the entire expenditure was of the nature of revenue expenditure and he, therefore, deleted the addition. the expenditure is so patently of a revenue character that the learned departmental representative did not find any argument in support of this plea and frankly stated that he has nothing to say on .....

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May 10 1991 (TRI)

Friends Auto India (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)38ITD389(Delhi)

..... or by any other name, such crediting shall be deemed to be credit of such income to the account of the payee. according to the learned departmental representative, this amendment is of a clarificatory nature and will, therefore, have retrospective effect.4. a similar controversy had come before me in doab food & general industries ltd. v. ..... oblige it to pay interest under section 201(1a).5. as regards the circular of the board, it is patently of the nature of the explanation referred to above which the legislature inserted by the finance act, 1987 with effect from 1-6-1987 and certainly enlarged the scope of section 194a and consequently places a higher ..... these explanatory notes printed at page 1195 of taxman's direct tax circulars, volume iii, 1988 edition states that these amendments will come into force from 1-6-1987. the board did not say that the amendment to section 194a by the addition of the aforesaid explanation would have retrospective effect. the explanation enlarges the scope of .....

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