Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2005 section 5 amendment of section 80 ia Page 1 of about 39,202 results (0.825 seconds)

Wazir Chand Exports Vs. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

..... to follow the principles as laid down in case of shree ram honda power equip, (supra) as discussed hereinabove. with regard to the amendment brought in by the taxation laws (amendment) act, 2005, which received the assent of president of india on 28th december, 2005, therefore could not be considered by cit qin his order ..... found that because of the insertion of 5th proviso to section 80hhc(3) by taxation laws (amendment) act, 2005, with retrospective effect from 1-4-1992 the assessee cannot be declined deduction. g the said amendment has now been introduced by taxation laws (amendment) act, 2005, which has received the assent of the president of india on 28-12 ..... . in view of the above discussion we direct the assessing officer to recompute the deduction with reference to the amended provisions/after insertion of second, third, fourth and fifth proviso by the taxation laws (amendment) act, 2005. with regard to admissibility of duty draw- back for deduction under section 80-ib, the issue is .....

Raju Bhojwani Vs. Chief Commissioner of Income Tax-xi

Court : Delhi

..... excluding the income from the export incentives. in these circumstances, it is not possible to accept the contention of the petitioner that the retrospective amendment by taxation law (amendment) act, 2005 was detrimental and had reduced the claim for deduction made by him under section 80 hhc as originally claimed. in fact, this aspect ..... has been decided that no penalty shall be levied or interest shall be charged in respect of any fresh demand raised consequent to the enactment of taxation laws (amendment) act, 2005, on account of variation in the returned/assessed income attributable to profits on sale of depb credits or dfrc. further, in such cases ..... , which was partly allowed by the commissioner of income-tax (appeals). the first appellate authority noticed that section 80 hhc had been retrospectively amended by the taxation laws (amendment) act, 2005 and the assessee was entitled to benefit of the proviso added with retrospective effect from 1st april 1998 on account of profits from .....

Bansal Impex Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)115TTJ(Delhi)906

..... we found that because of the insertion of 5th proviso to section 80hhc(3) by taxation laws (amendment) act 2005, with retrospective effect from 1st april, 1998, the assessee cannot be declined deduction. the said amendment has now been introduced by taxation laws (amendment) act, 2005, which has received the assent of the president of india on 28th dec, ..... 2005. the following amendment was made with retrospective effect from 1st april, 1998: (a) after the proviso, ..... accordingly, he supported the order passed by the cit under section 263 of the act.7. we have considered the rival contentions, carefully gone through the orders of the authorities below and also deliberated on various case law referred by cit in his order under section 263 as well as cited by .....

Shri Lal Mahal Limited Vs. Commissioner of Income Tax

Court : Delhi

..... approached by the assessee rejected its contentions and gave full effect to the ao s order in the light of the retrospective amendment to section 80hhc which had come into force by then by taxation laws (amendment) act, 2005 with effect from 01.04.1998. the appeal to the income tax appellate tribunal (itat) met with a similar ..... by the assessee.]. 8. the second, third and fourth proviso to section 80hhc(3) were introduced by the taxation laws (amendment) act, 2005 but with retrospective effect from 01.04.1998.9. after discussing the nature of the amendment and noticing that the ita2632015, ita2642015 & ita2652015 page 8 provision, i.e. section 80hhc(3) as existing ..... the disallowance sought to be made was solely on the basis of the retrospective amendment to section 80hhc(3) by virtue of taxation laws (amendment) act, 2005 since it was brought into force with retrospective effect. it is contended that this amendment was challenged on both a substantive basis as well as on the ground of its .....

Pawan Kumar JaIn Vs. Uoi and ors

Court : Delhi

..... interim relief to the petitioner. it would be evident from prayer (a) itself that essentially the petitioner is challenging the retrospectivity of the amendments to section 80 hhc brought about by the taxation laws (amendment) act, 2005 (hereinafter referred to as the said act ). this issue was considered by the gujarat high court in the case of avani exports & ors. v. cit:348. itr391which set aside ..... . in this writ petition the petitioner has made the following prayers:- wp(c) 1797/2008 (a) declare the provisions of the taxation laws (amendment act, 2005 insofar as it relates to the retrospective amendments of section 28 and 80 hhc of the income tax act, (annexure no.1) as ultra vires the constitution and liable to be struck down; and (b) declare that the cbdt circular .....

Bharat Enterprises and anr. Vs. Uoi and ors

Court : Delhi

..... interim relief to the petitioner. it would be evident from prayer (a) itself that essentially the petitioners are challenging the retrospectivity of the amendments to section 80 hhc brought about by the taxation laws (amendment) act, 2005 (hereinafter referred to as the said act ). this issue was considered by the gujarat high court in the case of avani exports & ors. v. cit:348. itr391which set aside ..... . in this writ petition the petitioners have made the following prayers:- wp(c) 5240/2007 (a) declare the provisions of the taxation laws (amendment) act, 2005 insofar as it relates to the retrospective amendments of section 28 and 80 hhc of the income tax act, (annexure no.1) as ultra vires the constitution and liable to be struck down; and (b) declare that the cbdt circular .....

Ang Auto Ltd. (Formerly Ang Exports Ltd.) and anr. Vs. Uoi and ors

Court : Delhi

..... interim relief to the petitioner. it would be evident from prayer (a) itself that essentially the petitioners are challenging the retrospectivity of the amendments to section 80 hhc brought about by the taxation laws (amendment) act, 2005 (hereinafter referred to as the said act ). this issue was considered by the gujarat high court in the case of avani exports & ors. v. cit:348. itr391which set aside ..... . in this writ petition the petitioners have made the following prayers:(a) wp(c) 7669/2007 declare the provisions of the taxation laws (amendment) act, 2005 insofar as it relates to the retrospective amendments of section 28 and 80 hhc of the income tax act, (annexure no.1) as ultra vires the constitution and liable 2. (b) declare that the cbdt circular no.2 of 2002 .....

Asstt. Cit Vs. K.S. International

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2007)293ITR39(Delhi)

..... 80hhc is available on such income. in the course of hearing before us, the attention of the learned departmental representative was drawn towards the amendment made by the taxation laws (amendment) act, 2005, retrospectively with effect from april 1, 1998, by which clause (iiid) was inserted in section 28 with a view to deem any ..... profit on the transfer of depb, being duty remission scheme under the export and import policy formulated and announced under section 5 of the foreign trade (development and regulation) act ..... , 1992, as the profits and gains of business. by the same amendment act, provisions of section 80hhc of the act were also modified by, inter-alia, inserting clause (iiid) in the clause (ba) of the .....

Plastiblends India Ltd., a Company Incorporated Under the Companies Ac ...

Court : Mumbai

Reported in : (2009)223CTR(Bom)291; [2009]178TAXMAN397(Bom)

..... from 1.4.2002 and, therefore, the tribunal erred in holding that omission of section 34(1) by taxation laws (amendment and miscellaneous provisions) act, 1986 changed the legal complexion. he further reiterated that explanation 5 to section 32 of the act as inserted by the finance act, 2001 with effect from 1st april, 2002 clearly demonstrates that prior thereto depreciation could not be thrusted on ..... irrespective of whether depreciation allowance was claimed as a deduction under section 32 of the act in arriving at the business income. the tribunal also held that there is no provision in the act for disclaimer of depreciation. omission of section 34(1) by the taxation laws (amendment & miscellaneous provisions) act, 1986 leads to the conclusion that assessee has no option to not to claim depreciation .....

Saraf Seasoning Udyog Vs. Income Tax Officer

Court : Rajasthan

Reported in : (2008)219CTR(Raj)461; [2009]317ITR202(Raj)

..... facts and circumstances of the case and considering the fact that clause (iiid) was inserted in section 28 of the it act. 1961 retrospectively w.e.f. 1st april, 1998 vide taxation laws (amendment) act, 2005, the tribunal was justified in holding that the income derived by the assessee from the sale of depb licenses ..... was not the profit and gains from the industrial undertaking which was held to be eligible for claiming deduction under section 80ib of the act, 1961 otherwise?3. ..... learned counsel for the appellant, that after passing of the assessment order, the provisions of it act have undergone change, inasmuch as, taxation laws (second amendment) bill was introduced in lok sabha on 6th dec, 2005, and was passed as taxation laws (second amendment) act, 2005, and was brought into force on 31st oct., 2005. by section 3 thereof, .....