Court : Mumbai
Reported in : [1991]188ITR591(Bom)
..... 5 in section 271, creating a fiction of concealment of income on the date of seizure of an amount in the course of search was introduced by the taxation laws (amendment) act, 1984, with effect from october 1, 1984.9. admittedly, the commissioner has not considered the facts in the background of the correct legal position. he ..... rejecting the petitioner's application under section 273a.7. relevant part of the provisions of section 273a reads as under :'273a. (1) notwithstanding anything contained in this act, the commissioner may, in his discretion, whether on his own motion or otherwise, - ... (ii) reduce or waive the amount of penalty imposed or imposable on ..... dated august 18, 1987, passed by the commissioner of income-tax under section 273a of the income-tax act is quashed. the commissioner is directed to consider the petitioner's application under that section afresh according to law.12. rule is accordingly made absolute in terms of prayer clause (a) excluding the impugned order dated .....
Tag this Judgment!Court : Mumbai
Reported in : [1999]238ITR736(Bom)
..... part thereof was used by him for payment of tax due from him under the act.4. we have considered the rival submissions. section 80v was inserted in the act by the taxation laws (amendment) act, 1975, with effect from april 1, 1976, and was deleted by the finance act, 1985, with effect from april 1, 1986. this section provides for deduction of ..... interest paid on monies borrowed by the assessee for payment of any taxes due from him under the act. the object of the section ..... of the revenue : 'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the assessee was entitled to the deduction under section 80v of the income-tax act, 1961, of rs. 58,000 forthe assessment year 1976-77, rs. 44,500 for the assessment year 1977-78 .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(4)BomCR686; [2009]183TAXMAN404(Bom)
..... being a seller shall at the time, during the period beginning on the 1st day of june 2003 and ending on the day immediately preceding the date on which the taxation laws (amendment) act, 2003 comes into force, of debiting of the amount payable by the buyer to the account of the buyer or of receipt of such amount from the said buyer in ..... collect the tax for the relevant period. section 206c would, therefore, not be attracted. to that extent the respondents 1 and 2 have held otherwise clearly discloses error of law apparent on the face of the record.in the light of that petition will have to be allowed and allowed in terms of prayer clause (a)(ii). consequently the petition ..... from collecting the tax it cannot be said that he would be liable under sub-section (6) of section 206c. a duty was cast on the petitioner by operation of law. petitioner could not discharge that duty by virtue of an order of this court. the question, therefore, of calling on him to pay the amount which he was disabled .....
Tag this Judgment!Court : Mumbai
Reported in : (1959)61BOMLR578; [1959]35ITR748(Bom)
..... months earlier, that is on 1st april, 1949, section 60a was added to the indian income-tax act to bring the law in harmony and by section 6 of the taxation laws (extension to merged states and amendment) act, 1949, the central government was empowered to make any exemption, reduction in rate or other modification in ..... out in this judgment the relevant provisions of the states of merger (governors' provinces) order, 1949, or the taxation laws (extension to merged states and amendment) act, 1949, or any provision of the indian finance act. the relevant part of section 60a is as under : 'if the central government considers it necessary or expedient so ..... into operation on 1st august, 1949. on 31st december, 1949, came into operation the taxation laws (extension to merged states and amendment) act, 1949. by section 3 of the latter enactment the indian income-tax act, 1922, as also the indian finance act, 1949, were extended to all the merged states. that section specifically provides that the two .....
Tag this Judgment!Court : Mumbai
Reported in : (1987)89BOMLR553; (1988)67CTR(Bom)37; [1988]172ITR1(Bom)
..... in view of the rival submissions, the principal question which falls for determination is the true ambit and scope of the provisions of section 179 of the act.3. section 179(1) and (2) was substituted by the taxation laws (amendment) act, 1975, with effect from october 1, 1975, and reads as under :'179. (1) notwithstanding anything contained in the companies ..... act, 1956 (1 of 1956), where any tax due from a private company in respect of any income of any previous year or from any other company ..... a reference to the background in which section 179 (1) and (2) was substituted for the original section 179 with effect from october 1, 1975. the taxation laws (amendment) bill, 1973, that is, bill no. 34 of 1973, was introduced in the lok sabha on may 9, 1973, and section 50 of this bill provides for .....
Tag this Judgment!Court : Mumbai
Reported in : [1993]202ITR716(Bom)
..... regard to the time within which it has to be filed. as stated earlier, under clause (ii) of the proviso to section 184(7) as amended by the taxation laws (amendment) act, 1970, with effect from april 1, 1971, though such declaration is required to be furnished before the expiry of the time allowed under sub-section (1 ..... 1970-71 or any earlier year where the question of continuation of registration is considered on or after april 1, 1971. (see explanatory notes on provisions of taxation laws (amendment) act, 1970). in the present case, though the assessment year is 1970-71, the return was submitted by the assessee on july 3, 1972, and the ..... shall have effect for every subsequent assessment year provided the requirements laid down in the proviso thereto are complied with. clause (ii) of the proviso was substituted by the taxation laws (amendment) act, 1970, with effect from april 1, 1971, by the following : '(ii) the firm furnishes, before the expiry of the time allowed under sub-section (1 .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1957Bom134; (1957)59BOMLR268; ILR1957Bom428; [1957]32ITR350(Bom)
..... the company was rs. 68,228.2. after the merger of the phaltan state, by section 7 of the taxation laws (extension to merged states and amendment) act (lxvii of 1949) the phaltan state income-tax act (iii of 1941) stood repealed, except for purposes of levy, assessment and collection of income-tax and super-tax ..... -tax officer cannot be passed. even though the phaltan state income-tax act has been repealed by the taxation laws (extension to merged states and amendment) act, 1949, for purposes of levy, assessment and collection of income-tax and super-tax the phaltan income-tax act does survive, and rectification of a mistake in assessment must be regarded ..... as 'assessment' within the meaning of section 7 of the taxation laws (extension to merged states and amendment) act, 1949. 7. we are also unable to agree with the contention of mr. palkhivala that section 35 of the indian income-tax act contemplates rectification of mistakes which are clerical or arithmetical only. section 35 .....
Tag this Judgment!Court : Mumbai
Reported in : (1993)115CTR(Bom)12; [1993]201ITR1050(Bom)
..... acquisition by the bigger hindu undivided family, according to the appellate assistant commissioner, the insertion of clause (iv) of subsection (1) of section 49 of the act by the taxation laws (amendment) act, 1975, with effect from april 1, 1976, had no application to the case of the assessee which pertains to the assessment year 1972-73. the appeal of ..... it may be mentioned that clause (iv) to sub-section (1) of section 49 was inserted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976. the words 'or clause (iv)' in the explanation were also inserted by the same amendment act with effect from april 1, 1976.10. a plain reading of this section clearly goes to show that ..... b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of the revenue :' whether, on the facts and in the circumstances of the case, the market value .....
Tag this Judgment!Court : Mumbai
Reported in : [1986]17ITD931(Mum)
..... , therefore, the order of the aac is reversed while the order of the ito is restored.13. clause (iii) of sub-section (1) of section 64 as substituted by the taxation laws (amendment) act, 1975, with effect from 1-4-1976, clearly lays down that in computing the total income of any individual, the income of a minor child of such individual from the ..... . where he was admitted to the benefits of the partnership in the total income of the father only reinforced what was enjoined on the ito by the provisions of the act and even without the assessment order it was not open to the ito to include this income in the total income of the assessee-individual who was a minor.10 ..... assessee does not want to retract or go back upon what was shown in the return and offered for assessment.9. shri mulla submitted that under section 64 of the act, the income of a minor child from the admission to the benefits of partnership in a firm was includible in the total income of the father or the mother whosoevers .....
Tag this Judgment!Court : Mumbai
Reported in : (1995)53TTJ(Mumbai)647
..... as given in (1985) 151 itr 46, here as under :'circular no. 402 dt. 1st november, 1984subject : taxation laws (amendment) act, 1984 - amendment of s. 263 of the it act, 1961 - clarification regarding.as a consequence of the amendment of s. 263 of the it act, 1961, by s. 47 of the taxation laws (amendment) act, 1984, the limitation for passing an order under s. 263 will, in view of general principles of interpretation ..... in cases where orders sought to be revised (were) passed before 1st october, 1984. according to the learned counsel, the amendment made by the taxation laws (amendment) act, 1984 was not retrospective in nature. it is clearly laid down in the statute that the said law shall be operative w.e.f. 1st october, 1984. this position is clarified in the circular also. subsequent legislation do .....
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