Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2001 section 4 amendment of section 10 Court: income tax appellate tribunal itat Page 1 of about 5,427 results (0.235 seconds)

Assistant Commissioner of Income Vs. Norasia Lines (Malta) Ltd.

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2007)292ITR31(Coch.)

..... the tax due on the returned income where such shortfall is on account of increase in the rate of surcharge under section 2 of the finance act, 2000 (10 of 2000), as amended by the taxation laws (amendment) act, 2000 (1 of 2001), and the assessee has paid the amount of shortfall, on or before the 15th day of march, 2001 in respect ..... the tax due on the returned income where such shortfall is on account of increase in the rate of surcharge under section 2 of the finance act, 2000 (10 of 2000) as amended by the taxation laws (amendment) act, 2001 (4 of 2001) and the assessee has paid the amount of shortfall on or before the 15th day of march, 2001 in ..... itd 269 (del) (sb). after elaborated discussion, the bench held as under: sections 234a and 234b were inserted by the direct tax laws (amendment) act, 1987 w.e.f. 1st april, 1989. the sections were amended by the direct tax laws (amendment) act, 1989 w.e.f. 1st april, 1989. a perusal of the circular no. 549 dt. 31st oct., 1989 shows that those .....

Vahid Paper Converters and ors. Vs. Ito and ors.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)98ITD165(Ahd.)

..... that even as per the supreme court, the decision was applicable for the period prior to 1-4-1988, i.e., before the law was amended by taxation laws (amendment & miscellaneous provisions) act, 1986. moreover in the above case the dispute was not with regard to the computation of income for the purpose of chapter vi-a ..... been answered differently by various high courts some in favour of the assessee and others in favour of the revenue. section 32 has since been amended by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from april, 1,1988, however, the answer to the question remains of substantial importance as various matters are stated to be ..... decision given by the supreme court was for asstt year 1974-75, when section 34 was on the statute book, which is omitted by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from 1-4-1988, as per section 34, the assessee was entitled to depreciation under section 32 only if the prescribed .....

Gulabrai V. Gandhi Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)84ITD370(Mum.)

..... by shri dave in support of the proposition that the declaration was not voluntary.16. let us have a look to explanation 5 which has been inserted by the taxation laws (amendment) act, 1984. it provides that where in the course of a search under section 132, the assessee is found to be the owner of any money, bullion, ..... of 22-9-1989 given by the income-tax department (copy placed on record) wherein the assessees were advised to avail of the concession given by the taxation laws (amendment & miscellaneous provisions) act, 1986 which provided that if during the course of search, the assessee makes a statement under section 132(4) that any money, bullion, jewellery or any ..... assessee has no intention to fabricate any evidence and he includes in his return, the income out of which such assets have been acquired. hence, by the amending act, it has been provided that if an assessee in such cases makes a statement during the course of search admitting that the assets found at his premises or .....

Pukhraj JaIn Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)104ITD371(Hyd.)

..... l.k. kasliwal v.gift-tax officer 38 itd 545, wherein it was held as follows (head note): the provisions of section 15(6) which were inserted by taxation laws amendment act, 1972 with effect from 1-1-1973 ate very clear. these provisions indicate that the jurisdiction and powers of the gto have been curtailed and have been assumed either ..... . cwt [1994] 207 itr 173 taxman 3, held that rule 1d of the wealth lax rules was mandatory. the rules prescribed under the wealth-tax act were also applied for the taxation of gifts as they prescribed one of' the recognised methods of valuation. this received statutory recognition from 1-4-1988 when schedule ii was inserted in the ..... mandatory character is also reinforced by the fact that not only the procedural provision, namely, schedule ii to the act, used the word 'shall', but the substantive provision in section 6(1) also uses the word 'shall'.these case laws lay down the proposition that even in the case of a deemed gift it is mandatory for the ao to .....

Chohung Bank Vs. Deputy Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)102ITD45(Mum.)

..... existing taxes. the competent authorities of the contracting states shall notify each other of any substantial changes, which have been made in their respective taxation laws.11.2 it is, thus, evident that dtaa recognizes the fact that the amendments made in the it act are not affected in so far or they are not in conflict with the specific provisions of the ..... computation of income and not about rates of taxes on the income so computed as it falls in the domain of annual finance act.further, the power of parliament to make amendment in law is not assigned or compromised by virtue of dtaa being in force. it has only to be seen as to whether new provision is in conflict with ..... considered view the explanation introduced in 2001 by finance act, 2001 w.r.e.f. 1-4-1962 is no way in conflict with the dtaa with korea. in fact the dtaa provides for a mechanism for communicating with each other any amendment in law made by one country. article 2 para 4 of dtaa is relevant. it is extracted below : 4. .....

Coal India Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)88ITD514Cal

..... the same dividend [emphasis supplied by us]. both these events took place before the income-tax act was amended to exempt dividend income from tax w.e.f. 1-4-1998. thus, there has been double taxation due to the extant provisions of the act....(item no 10 of hpc minutes dated 10-5-2001, at page 7 of compilation filed ..... tests.in our considered view, therefore, the assessee's claim regarding exclusion of the aforesaid amount under explanation (if) to section 115ja(2) of the act is not sustainable in law. we do not also find any other enabling provisions for exclusion of this amount from the book profits. once the assessee itself includes an amount in the ..... a peculiar accounting practice followed by the assessee, shown dividend as income of the previous year to which dividends pertain - something which is alien to the income-tax law as well as standard accounting practices.4. while the dividends of rs. 539.35 crore thus shown in the profit and loss account of the assessee were not included .....

Sword Global (i) (P) Ltd. Vs. the Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chennai

..... not. the aforesaid controversy is no more after 1.4.2001 because these provisions have now been amended and brought them on par with the other exemptions/deductions allowed under chapter via of the act. as per the settled law, all the brought forward losses and depreciation are first required to be set off against the business ..... considering the set off of brought forward losses against the business profits. if this procedure is applied and upheld by the courts, this will result in the taxation of much higher income in the hands of various assessees for the assessment year 2003-04, if such assessees do not have any brought forward losses/depreciation ..... learned departmental representative controverted the arguments advanced by the learned counsel for the assessee and stated the first appellate authority has passed the impugned order under the law and it is a well reasoned order according to the facts and circumstances of the case. he stated that method of computation adopted by the assessee is .....

NavIn Bharat Industries Ltd. Vs. the Deputy C.i.T., Special

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... income which is not includible in the total income and does not deal with the losses from that source etc., and in any case, as per the amendment in the said section by the finance act, 2001, it is applicable only from 1.4.1962.22. the learned departmental representative strongly relied upon the orders of the authorities below. he submitted ..... the facts on record. we have also perused the provisions of section 10a, section 70 and section 71 of the i.t. act and also the decisions relied upon by the learned cit(appeals). the special scheme of taxation formulated by the govt. for taxability of units set up in the export processing zone, contained in section 10a, is a code ..... by itself. the computation of such units as well as the carry forward and set off etc., has been specifically laid down in the said section. the other provisions of the i.t. act and any .....

Rajendra Automobiles Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1988)25ITD555(All.)

..... should be imposed as prescribed under the statute at the time when the order imposing penalty was made, that is to say, in accordance with the law as it stood after amendment by the taxation laws (amendment) act with effect from 1-4-1976, since the income-tax officer passed the penalty order on 18-3-1980, while the return was filed on ..... tax appellate tribunal nominated the third member, who vide his order dated 15-1-1988 held that the penalty is leviable in accordance with law prior to the amendment of section 271(1)(iii) by the taxation laws (amendment) act, 1975 which came into effect from 1-4-1976 as the concealment in this case was made on 21-8-1975 when the ..... , the decision of the supreme court in the case of brij mohan (supra), i hold that the penalty is leviable in accordance with law prior to the amendment of section 271(1)(iii) by the taxation laws (amendment) act, 1975 which came into effect from 1-4-1976 as the concealment, in this case was made on 21-8-1975 when the return .....

First Wealth-tax Officer Vs. Smt. P.H. Harilela

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1984)8ITD645(Mum.)

..... dates for considering the exigibility of the assessee to penalties. he pointed out that the relevant provision of section 18, as it stood prior to its amendment by the taxation laws (amendment) act, 1970, with effect from 1-4-1971, was to the effect that where the value of any asset returned by any person was less than ..... purposes of section 18(1)(c). even after the amendment of the relevant provisions with effect from 1-4-1971, the law on the subject was unaffected.section 18, after its amendment by the taxation laws (amendment) act, 1975, with effect from 1-4-1976, had undergone substantial change. this amendment placed on the statute book the explanation 4 which was ..... for attending to the wealth-tax affairs of the assessee the assessee had appointed shri b.g. gandhi, a senior chartered accoutant, to look after the taxation matters. the returns were being filed by shn ishwardas valiram mahbubani, another co-partner in the firm of hariela.the assessment proceedings were being attended to by .....