Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2003 section 5 amendment of section 115s Court: mumbai Page 11 of about 1,737 results (0.173 seconds)

Commissioner of Income-tax Vs. International Computers Indian Manufact ...

Court : Mumbai

Reported in : (1990)90CTR(Bom)123

..... and co. : [1987]167itr671(bom) in favour of the assessee and against the revenue. it is also seen that an explanation was inserted in section 263 by the taxation laws (amendment) act, 1984, with effect from october 1, 9184. the explanation then had clauses (a) and (b) only and had nothing to do with the question involved herein. clause ..... any appeal, the commissioner's power under section 263(1) shall extend to such matters as had not been considered and decided in such appeal. the finance act, 1989, further amended explanation (c) with retrospective effect from june 1, 1988. the result was that explanation (c), thereafter, provided that where any order of the assessing ..... 2. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the commissioner of income-tax cannot exercise his powers under section 263 of the income-tax act in respect of an assessment order passed by the income-tax officer, after obtaining approval from the inspecting .....

Bharat Bijlee Ltd. Vs. V. K. Srivastava, Commissioner of Income Tax an ...

Court : Mumbai

Reported in : 1998(3)ALLMR329

..... previous year being the year ended on 30th june, 1977. the case of the assessee is that prior to the substitution of sub-s. (3) of s. 215 of the act by the taxation laws (amendment) act, 1984 w.e.f. 1st april, 1985, there was no provision for levy of interest under s. 215(1) of the ..... tax and so far as it is not due to variation in the rates of tax made by the finance act enacted for the year for which the regular assessment is made.' sub-s. (3) of s. 215 was substituted by the taxation laws (amendment) act, 1984 w.e.f. 1st april, 1985 by the following : '(3) where as a result of an order under ..... act or enhancement thereof on the basis of the tax determined on revised assessment and in that view of the matter, the iac ('ao') acted illegally and without jurisdiction in levying the interest under s. 215(1) of the act on .....

Carona Sahu Co. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : (1995)123CTR(Bom)497; [1995]213ITR106(Bom)

..... assessee to be heard. (5) every direction issued by the inspecting assistant commissioner under sub-section (4) shall be binding on the income-tax officer...' 14. this section was amended by the taxation laws (amendment) act, 1984, with effect from october 1, 1984, and for the words 'the income-tax officer proposes to make any variation', the words and figures 'the income-tax officer proposes ..... after january 1, 1976. this interpretation also gets support from the fact that the procedure under this section relating to reference to the inspecting assistant commissioner was discontinued by the taxation laws (amendment) act, 1984, not with reference to any assessment year but with reference to the date of making the assessment under section 143(3) of the .....

Commissioner of Income-tax Vs. Godavari Sugar Mills Ltd.

Court : Mumbai

Reported in : (1992)107CTR(Bom)50; [1992]198ITR196(Bom)

..... ltd. v. union of india : [1990]184itr599(bom) . the learned judge, while considering the explanation, observed that the explanation as such was inserted in section 263 by the taxation law (amendment) act, 1984 with effect from october 1, 1984. the explanation had only two clauses (a) and (b) at that time. clause (c) was inserted in the explanation by the ..... as the assessment order has merged with the appellate order. 5. it is pointed out by mr. jetley, learned counsel for the revenue, that section 263 has since been amended in the following manner : the explanation to section 263(1) as it stood prior to june 1, 1988, did not contain clause (c) which is the material clause ..... application under section 256(2) of the income-tax act, 1961, made by the revenue asking us to direct the tribunal to frame the following question and refer it to us for adjudication : 'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that passing of an order by the .....

Commissioner of Income-tax Vs. Star Andheri Estate

Court : Mumbai

Reported in : (1994)120CTR(Bom)254; [1994]208ITR573(Bom)

..... or profession received in the accounting year cannot be taxed because the source of income did not exist in the accounting year. sub-section (3a), which was inserted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976, reads : '176. (3a) where any business is discontinued in any year, any sum received after the discontinuance shall be ..... because, in our opinion, the scheme of these two sections is completely different. section 159 is akin to section 44 of the indian income-tax act, 1922, as it stood before the amendment of 1958. the scheme of assessment of income of a dissolved firm originally was the same as in the case of a deceased assessee but that ..... scheme is no more applicable for the assessment of the income of dissolved firms. now, under section 189 or under the amended section 44 of the 1922 act, the income-tax officer has to make an assessment of the total income of the firm as such as if no such discontinuance or dissolution had .....

Rasik Ramji Kamani Vs. S.K. Tripathi and Others

Court : Mumbai

Reported in : 1991(3)BomCR159; [1993]203ITR848(Bom)

k. sukumaran, j. 1. soon after chapter xix-a was introduced into the income-tax act, 1961, by the taxation laws (amendment) act, 1975, the petitioner herein - rasik ramji kamani involved the facilities afforded by that benign fiscal measure, by moving the settlement commission with the necessary application. the application ..... a statutory provision which came into effect sub-sequent to the commencement of the proceedings. the application was filed on july 22, 1976. the amendments under section 245ha/section 22ha were introduced by the amendment act which came into force only on june 1, 1987. how come an earlier application is processed in the light of a later enactment, when ..... 17. the fact that an ingredient of a statutory provision has been picked up from the past does not mean that the section is retrospective in character. the amendment which brought in section 245ha does not operation in the realm of vested rights. it is purely procedural in character. and it is well-settled that such a .....

Ramkumar Jalan Vs. Income Tax Officer

Court : Mumbai

Reported in : (1998)61TTJ(Mumbai)768

..... , whereas the penalty orders have been passed by the iac, and, therefore, the order are bad in law because jurisdiction of the ito levying penalty under s. 27emc) was omitted w.e.f. 1st april, 1976, by the taxation laws (amendment) act, 1975. according to the assessee's counsel, all the assessment years being relating to the previous years, ..... . 125a, which were in the following terms.'prior to its omission, s. 125a, as amended by the finance (no. 2) act, 1977, w.e.f. 10th july, 1978, stood as under:(1) the cit may, by general or special order in writing, direct that all or ..... (2), the departmental representative expressed his ignorance about such notifications.16. after considering the rival submissions and to decide the issue involved, it is necessary to consider the law relating to the concurrent jurisdiction of the iac, which was prevailing during the period lst oct., 1975 till 31st march, 1976, by virtue of the provisions of s .....

Smruti Trading Company Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... who is the partner and not the joint family as such, was made by the introduction of expln. (1) to (3) to s. 40(b) by the taxation laws (amendment) act, 1984, w.e.f.asst. yr. 1985-86. by introducing these explanations, the representative capacity of the karta was sought to be recognised but that was only as ..... payment to the huf he represents and not to him in his individual capacity. we cannot throw out notions of the partnership law even while considering a question arising under the it act, because s. 2(23) of the it act says that the expressions "firm", "partner" and "partnership" shall have the meanings respectively assigned to them in the indian ..... partnership act, 1932, with the only exception that the expression "partner" would also include a minor admitted to the benefits of the partnership. thus, if under the partnership law, an huf as such cannot become a partner in a firm and it is only the .....

Jay Bros. Investment and Trading Co. Vs. Deputy Commissioner of Income ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... with a view to expedite grant of refund, a uniform period of three months has been specified in sections 243 and 244 by taxation laws (amendment) act, 1970. if there is delay beyond the period of three months. it act provided for payment of interest to the assessee by the central government. while implementing the provisions of section 243 of the ..... of order the granting the refund' is not correct. thus, in cases where interest is payable by the central government to assessee under section 243 of the act, such interest is to be calculated up to the date of issue of the refund voucher." 5. the learned counsel submitted that the assessee was deprived of ..... quantification of amount refundable takes place. it may be noted that upto 1st april, 1989, interest on the refund is permissible as prescribed under section 243 of the act wherein similar expression is used by legislature. section 244a comes into effect from 1st april, 1989, whereas section243 is available upto or prior to 1st april, 1989. .....

Sarabhai M. Chemicals Private Ltd. Vs. P.N. Mittal Competent Authority ...

Court : Mumbai

Reported in : (1980)16CTR(Bom)315; [1980]126ITR1(Bom); [1980]3TAXMAN541(Bom)

..... even at the stage of initiation of proceedings. in income-tax circular no. 96 dated november 25, 1972 : [1973]91itr1(sc) , which dealt with the provisions of the taxation laws (amendment) act, 1972, and the newly added chap. xx-a, in the para. 11, it was observed (91 itr (st.) 1,5)1'the competent authority will have the power ..... done after satisfying the conditions precedent prescribed for the exercise of powers conferred upon the competent authority under chap. xx-a of the act.5. chapter xx-a which contains ss. 269a to 269s was inserted by the taxation laws (amendment) act, 1972, and the insertion took erect from november 15, 1972. in cit v. vimlaben bhagwandas patel : [1979]118itr134(guj) ..... of the slump price is taxable.'32. it must be pointed out that the supreme court was dealing with the provisions of law as they stood before capital gains became taxable under the indian i.t. act, 1922. the case before the high court arose out of income-tax reference no. 74 of 1956, cit v. mugneeram .....