Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1990)32ITD222(Mum.)
..... that is not entertained, is 20th april, 1985. taking either date as the relevant one, under sub-section (7) of section 245m of the act, as it stood amended by the taxation laws (amendment) act, 1984 with effect from 1st october, 1984, where an application made to the settlement commission (it & wt) is not entertained, the assessee has to ..... appellate tribunal and the provisions contained in section 253, section 254 and section 255 shall, so far as may be, apply accordingly.section 245m was later amended by the taxation laws (amendment) act, 1984 with effect from 1st october, 1984 and it stood on the statute book as under: 245m. (1) notwithstanding anything contained in this chapter, ..... -74 to 1984-85 is nil. your application is, therefore, not maintainable under section 245c(1) of the income-tax act, 1961 as amended by the taxation laws (amendment) act, 1984.2. section 245m(7) of the act, as it stood on the date when the order of the it at was made, provided that where an application made .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1990)34ITD268(Mum.)
..... any province of india at any time after the 31st day of march 1948. later on, the taxation laws (extension of merged states and amendment) act, 1949 (18 itr - statutes - page 22) indicated that the expression used in clause (ii) under this act was "within a period of three years from the 1st day of april 1948. the report of ..... the select committee on the taxation laws (extension to merged states and amendment) bill made the following suggestions: (a) to what extent, if any, it is possible to ..... out under the finance act of 1975 in terms of which the period of 31 years was extended to 33 years, the learned authors chaturvedi & pithisaria have made the following comments at page 2149 in their book income-tax law (third edition): (ii) the pre-amendment provisions made the 'tax holiday' concession available in the case of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1993)44ITD231(Mum.)
..... the assessed tax for every month during which the default continued, but not exceeding in the aggregate fifty per cent of the assessed tax...clause (i) was amended by taxation laws amendment act, 1974, deleting the words "but not exceeding in the aggregate fifty per cent of the assessed tax," and in clause (a) the words "without reasonable cause ..... " were deleted by the taxation laws amendment act, 1986 with effect from 10-1-1986.7. the default for the purpose of section 271(1)(a) is thus, (i) failure to file a voluntary return ..... period from the respective assessment year and before the issuance of notice under section 148 of the act.13. we also get support in our aforesaid view by the provisions of explanation 3, inserted below section 271(1)(iii) by the taxation laws (amendment) act, 1975, with effect from 1st april, 1976. it reads as under: explanation 3- .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2003)86ITD696(Mum.)
..... of immunity to be granted to the assessee under the provisions of expln. 5(a) to section 271(1)(c) of the act. expln. 5 to section 271(1)(c) 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 ..... wherein various transactions were recorded. the assessee on the basis of said diaries had calculated his unaccounted and professional income and offered the same for taxation under section 132(4) of the act. the books of account were not maintained by the assessee as per provisions contained in section 44aa r/w rule 6f.3. for the asst ..... record of the factual facts, contemporaneously made but they were never maintained for the purposes of the act to draw source of income or for the computation of total income to offer income calculated therefrom for the purposes of taxation; such books or diaries can hardly be designed or accepted as books of account for the purposes .....
Tag this Judgment!Court : Mumbai
Reported in : [1986]162ITR697(Bom)
..... such proceedings. both these sections are in chapter xx-a entitled 'acquisition of immovable properties in certain cases of transfer to counteract evasion of tax', and introduced in the act by the taxation laws (amendment) act, 1972. these two sections are as under :'269c. (1) where the competent authority has reason to believe that any immovable property of a fair market value exceeding twenty-five ..... end of the month in which the instrument of transfer in respect of such property is registered under the registration act, 1908. this period was originally six months and was amended to nine months with retrospective effect from november 15, 1972, by the taxation laws (amendment) act, 1973, and, therefore, it was agreed by both the parties that a period of nine months was available to .....
Tag this Judgment!Court : Mumbai
Reported in : (1984)41CTR(Bom)175; [1984]150ITR437(Bom); [1984]18TAXMAN372(Bom)
..... to the inspecting assistant commissioner who shall, for the purpose, have all the powers conferred under this chapter for the imposition of penalty.'3. as per the amendment of this sub-section by the taxation laws (amendment) act, 1970, which came into effect from april 1, 1971, the words 'the minimum penalty impossible exceeds a sum of rupees one thousand' were substituted by the words ..... fact, with respect, we fail to see how the making of such a reference could ever be regarded as a mere ministerial act. before making a reference under s. 274(2), as it stood prior to the aforesaid amendment, the ito had to consider the matter and to take a decision that the minimum penalty impossible exceeded a sum of rs. 1 .....
Tag this Judgment!Court : Mumbai
Reported in : [1998]230ITR108(Bom)
..... its total income for the relevant pervious year is not less than fifty one per cent of such total income.' the above sub-s. (4) was, however, substituted by the taxation laws (amendment) act, 1975, w.e.f. 1st april, 1976, by the following : '(4) without prejudice to the provisions of s. 108, nothing contained in this section shall apply to ..... assessee was that the law as amended w.e.f. 1st april, 1976, was not applicable to the assessment of the income of the company which ..... 1st july, 1975, because the order under s. 104 of the act was passed in respect of the income of the amalgamating company for the period prior to the date of amalgamation, i.e., period ending 30th june, 1975, on the basis of the amendment made by the taxation laws (amendment) act, 1975, w.e.f. 1st april, 1976. the case of the .....
Tag this Judgment!Court : Mumbai
Reported in : [1994]205ITR495(Bom)
..... of income from assets transferred by the assessee and not income from assets transferred indirectly by the assessee. that was done only in 1976 by the amendment of section 64 of the act by the taxation laws (amendment) act of 1975, with effect from april 1, 1976, whereby sub-section (1) of section 64 was substituted and in clause (vii) which was ..... dr. b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, made at the instance of the assessee, the income-tax appellate tribunal ('the tribunal'), has referred the following question of law to this court for opinion : 'whether, on facts and circumstances of the case, the sums of rs. 56,236 and ..... rs. 53,834 have been rightly included under section 64(1)(v) of the income-tax act, 1961, in the total income of the assessee for the .....
Tag this Judgment!Court : Mumbai
Reported in : (1996)56TTJ(Mumbai)297
..... explanation has been inserted w.e.f. 1st oct., 1975, by the taxation laws (amendment) act, 1975. the case of sriram agarwal to which sri gupta referred dealt with the provisions of s. 212(3a) of the it act for the asst. yr. 1971-72. it is clear from the abovementioned explanation ..... this sub-section, merely by reason of the fact that before the levy of such penalty he has paid the tax.'7. the amendment to which sri gupta referred is in second proviso to s. 221(1). prior to its substitution w.e.f. 10th sept., ..... default was under the provisions of s. 221 r/w s. 201(1) of the it act. he pointed out that while the provisions of s. 221 had been amended, there was no amendment in the provisions of s. 201 and hence the assessee who was only deemed to have ..... far different from the penalty for a crime or a fine or forfeiture provided as punishment for the violation of criminal or penal laws.'10. in this view of the matter, the ratio of decision in the case of hindustan steel (supra) relied upon by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1989)29ITD164(Mum.)
..... palkhivala. shri palkhivala's argument is based on the assumption that bai shirinbai k.kooka's case (supra) in any case, applicable. bat for the amendment brought about to section 45 by the taxation laws amendment act, 1984, with effect from 1-4-1985, the appellant would be entitled to the benefit of this decision. we have already pointed out that the decision ..... on that basis. the reservation contained in the decision in the case of sunil siddharthbhai (supra) has no application. finally, shri palkhivala argued that section 45 of the it act was amended in 1984 to get over the situation created by the judgment in bai shirinbai k. kooka's case (supra). the same section was ..... on the provisions of sub-sections (3) to (5) of section 45 which were introduced with effect from 1-4-1988 by the finance act, 1987. these sub-sections only clarify the position in law as the legislature always wanted it to be. we are only concerned with finding out whether the ratio of the decision in svnil siddharth-bhai .....
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