Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2003 section 5 amendment of section 115s Court: mumbai Page 7 of about 1,737 results (0.585 seconds)

Whittle Anderson Ltd. Vs. Commissioner of Income-tax, Bombay City I

Court : Mumbai

Reported in : [1971]79ITR613(Bom)

..... continuance of the business or after the cessation thereof' were added only in 1949 by section 11 of the taxation laws (extension to merged states and amendment) act, 1949 (67 of 1949). the clause both prior to and subsequent to the 1949 amendment had come up for construction before court in several cases and the supreme courts has in a recent decision pronounced ..... the question referred and he relied upon its concluding words 'so as to attract the operation of the second proviso to section 10(2)(vii) of the 1922 act, is right in law.' no doubt reference has been made to the second proviso to section 10(2) (vii) and whether the operation of that proviso is attracted in the ..... the finding of the tribunal that the machinery was 'used' so as to attract the operation of the second proviso to section 10(2) (vii) of the 1922 act is right in law ?' 2. we are concerned in this reference with the assessment year 1958-59, corresponding to the previous account year august 1, 1956, to july 31, 1957. the .....

Commissioner of Income Tax Vs. J. K. Investor (Bombay) Ltd.

Court : Mumbai

Reported in : [2000]112TAXMAN107(Bom)

..... the sum for which the property might reasonable be expected to be let from year to year. in our view, this later insertion of clause (b) by the taxation laws (amendment) act. 1975 is meant to cover a case where the rent per annum actually received by the owner is in excess of the fair rent or the standard rent under the ..... be expected to be let from year to year. in other words, insertion of clause (b) by the taxation laws (amendment) act, 1975 covers a case where the rent for a year actually received by the owner is in excess of the lawful rent which is known as the fair rent or standard rent under the rent control legislation. the provision of section ..... the basis to determine the annual value of a property. this was the sole basis prior to the assessment year 1975-76. however, after the amendment of section 23(1) by the taxation laves (amendment) act, 1975, the legislature has clearly laid down under section 23(1)(b) that when the actual annual rent received or receivable is in excess of .....

M/s. Ghodawat Energy Pvt. Ltd. Vs. The State of Maharashtra, Through t ...

Court : Mumbai

..... thereunder from the first schedule to ade act 1957 vide section 10, taxation laws (amendment) act, 2007 (act no.16 of 2007) effective from 1st april, 2007, without losing share of central taxes. this enabled states to levy vat on tobacco ..... 5 is annexed as annexure-e to the paper-book. 18. the petitioner has also brought to our notice the following changes which were made by the taxation laws (amendment act, 2007. these, according to the petitioner, are as under: 19. the parliament omitted chapter headings 2401, 2402 and 2403 and sub-heading and tariff item ..... heading 2403 was omitted from the first schedule to the ade act only with effect from 1st april, 2007, vide section 10 of the taxation laws (amendment) act, 2007 (act no.16 of 2007) read with the notification dated 29th march, 2007. the schedule entry a-45 was amended with effect from 1st april, 2007, to delete reference to tobacco .....

Assistant Commissioner of Vs. Smt. Shantidevi Saraf

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1994)51ITD83(Mum.)

..... the course of hearing, the statutory changes brought about w.e.f.1 -4-1985 were noted and analysed. in particular, sub-section (2) of section 45 inserted by the taxation laws (amendment) act, 1984, w.e.f.1-4-1985 was taken note of. it was also noted in the course of hearing itself that even in the tribunal's decision dated 15 ..... -1 -1990 which was relied upon by the assessee, an argument had been advanced on behalf of the assessee that there was some amendment made in the relevant provisions of the act vide para 4, towards the end of bottom of para 2 of that order of the tribunal. it was also noted that the cit (appeals) in ..... . 23,370 in the appellate order of the cit (appeals). on pg. 2, the cit (appeals) has rightly analysed the existence of amendment in law up to a point as follows : ... it has to be noted that even under the amended provision, the entire difference between the sale price and the cost price is not to be treated as capital gains. it is .....

Mehta Manufacturers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)110ITD1(Mum.)

..... tone down the rigour of such view representations were made to the government and eventually second to fifth provisos to section 80hhc(3) were inserted by the taxation laws (amendment) act, 2005 with retrospective effect. other ongoing controversy regarding the taxability of duty entitlement pass-book (depb) and duty free replenishment certificate (dfrc) was also ..... verification of report in form no. 1 occac observed that the assessee has loss on export turnover at rs. 10,19,985. he considered taxation laws (amendment) act, 2005, in which amendment has been carried out to section 80hhc. since the assessee's export turnover was below rs. 10 crores and there was loss on the total ..... background which led to the insertion of 4 provisos to section 80hhc(3) simultaneous with insertion of section 28(iiid) and (iiie) by the taxation laws (amendment) act, 2005. as per the pre-amended provisions of section 80hhc the assessee was entitled to deduction as per clause (a) or (b) or (c) of section 80hhc(3) .....

Phalton Sugar Works Ltd. Vs. B.J. Chackoo, Income-tax Officer, Compani ...

Court : Mumbai

Reported in : [1963]50ITR56(Bom)

..... of the income of any person or class of person.' 10. this section, as we have already stated, was introduced by the taxation laws (extension to merged states and amendment) act, 1949, and the object and purpose in enacting it was to avoid hardships and anomalies and for removing difficulties, which were likely to ..... petitioner's assessment in british india during those years. after the merger of the phalton state, by section 3 of the taxation laws (extension to merged territories and amendment) act, 1949, the indian income-tax act, 1922, was brought into force and made applicable to the merged state of phalton with effect from the 1st april, ..... state territories was likely to create several difficulties and anomalies and was also likely to cause hardships, the taxation laws (extension to merged territories and amendment) act, 1949, introduced section 60a in the indian income-tax act enabling the central government, if it considered it necessary or expedient so to do for avoiding any hardship .....

K. Y. Patel Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : [1995]214ITR793(Bom)

..... separate property of an individual into property belonging to the family of which such individual is karta. sub-section (2) of section 64 was inserted in the act by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. it applies to separate property converted into 'joint family property' after december 31, 1969. this sub-section provides ..... converted property became taxable as the income of the individual and not as the income of the family. sub-section (2) of section 64, as inserted by the taxation laws (amendment) act, 1970, with effect from april 1, 1971, read as under : '(2) where, in the case of an individual being a member of a hindu undivided family ..... of the previous year of the family relevant to the assessment year for which the individual is to be assessed under sub-section (2).' 7. by the taxation laws (amendment) act, 1975, the following amendments were made in sub-section (2) of section 64 with effect from april 1, 1976 : (i) in clause (b), the words 'in so .....

Jay Bros. Investment and Trading Co. (P) Ltd. Vs. Dy. Cit

Court : Mumbai

Reported in : (2002)74TTJ(Mumbai)748

..... 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, income tax act provided for payment of interest to the assessee by the central government. while implementing the provisions of section 243 of the ..... the date 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 1-4-1989, 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 1-4-1989, whereas section 243 is available upto or prior to l-4-1989. .....

Suresh N. Shah Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)81ITD385(Mum.)

..... cit(a), the case of the assessee squarely falls in the deeming provisions given in expln. 5(a) of section 271(1)(c). expln. 5 has been inserted by the taxation laws (amendment) act, 1984 w.e.f. 1st oct., 1984. the newly inserted explanation enacts deeming provision and hence applies to a situation where in the course of search under section 132 the ..... 132(5) was passed but no penalty under section 271(1)(c) was worked out on the income offered under section 132(4) of the act. similarly, the assessee offered a sum of rs. 18 lakhs for taxation being income earned upto the date of search for the asst. yr. 1991-92. consequent to the search and seizure, order under section 132 ..... (5) was passed but no penalty under section 271(1)(c) was worked out on the income offered under section 132(4) of the act. search and seizure action was taken .....

Shakti Insulated Wires Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD56(Mum.)

..... cocanada radhaswami bank ltd. (supra) the provisions of section 45(2) were not there, which were introduced w.e.f. 1st april, 1985, by taxation laws (amendment) act, 1984. the income was assessable under capital gains and provisions of section 71 specifically prohibits set off of income from capital gains against the business income. this ..... so likes as his rights are subscribed by various welfare regulations. in the present case also the land was subject to various social laws which is urban land ceiling act and development control rules etc. therefore, the developmental rights which were recognized as distinct from the land could not be said to have ..... 1st april, 1994, and the encumbrances imposed upon those rights were only removed by various amendments brought out by various orders. these developmental rights constituted valuable capital asset within the meaning of section 2(14) of the it act. it is pertinent to mention that in the whole development agreement the assessee described itself .....