Court : Gujarat
Reported in : (1968)0GLR507; [1969]72ITR637(Guj)
..... as to affect the vested right of the assessee to claim development rebate in respect of the said trucks. the argument of the assessee was that the taxation laws (amendment) act, 1960, which introduced the proviso in section 10(2)(vib) was enacted on 6th september, 1960, and was, therefore, ineffective to affect the right ..... on further appeal, by the tribunal. the ground of disallowance was the proviso introduced in section 10(2)(vib) of the income-tax act, 1922, by section 4 of the taxation laws (amendment) act, 1960, with effect from 1st april, 1960. the proviso was in the following terms:'provided further that no allowance under this clause shall ..... which became vested in the assessee on 1st april, 1960, to claim development rebate under the then existing law. this argument is plainly incorrect, for it overlooks section 1, sub-section (2), of the taxation laws (amendment) act, i960, which says in terms that, subject to any special provision made in this behalf in that .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)194CTR(Guj)194; [2005]275ITR199(Guj)
..... . the case of the assessee in nutshell is that the period of limitation for passing an order of rectification is prescribed under section 154(7) of the act. that the said provision was amended by taxation laws (amendment) act, 1984 w.e.f. 1st october, 1984, but the time limit of four years from the date of assessment order had to be taken into consideration and ..... assessment order was dated 25th march, 1982. the original period of limitation under the unamended provision would have expired on 24th march, 1986. however, by virtue of the amendment carried out by the taxation laws (amendment) act the said period stood extended upto 31st march, 1986 and the rectification order has admittedly been made on 31st march, 1986. the limited question, therefore, is whether the .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)190CTR(Guj)363; [2004]269ITR508(Guj)
..... in the said provision and thereafter under taxation laws (amendment and miscellaneous provisions) act, 1965, with effect from 4.12.1965 ..... .'21. subsequently, by the finance (no. 2) act, 1965, with effect from 1.4.1965, 7% gold bonds, 1980 were added ..... by them. upon hearing the learned advocates and perusal of the law laid down in the judgments referred to by the learned advocates, the following factual position emerges :20. section 5(1)(xvia) of the act was enacted as under with effect from 13.12.1962 by taxation laws (amendment) act, 1962 :'to exempt 6 1/2% gold bonds, 1977 .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)194CTR(Guj)158; [2005]274ITR176(Guj)
..... (no.2) act w.e.f 1.4.1978. hence while inserting section 80-i in the year 1981, the legislature was ..... of an amount equal to twenty per cent thereof.'section 80j was inserted by finance (no.2) act, 1967 w.e.f. 1.4.1968 and the bracketed portion in section 80j referring to section 80hh was inserted/substituted by the taxation laws (amendment) act, 1975 w.e.f 1.4.1976 and the bracketed portion for section 80hha was inserted by finance ..... m.s. shah, j.1. in this reference at the instance of the revenue, the following question of law has been referred for our opinion for the assessment year 1989-90:-'whether, the appellate tribunal is right in law and on facts in confirming the order passed by the commissioner of income-tax (appeals) holding that the deduction under section .....
Tag this Judgment!Court : Gujarat
Reported in : [2002]253ITR33(Guj)
..... hereinabove.17. before dealing with the rival submissions, it is necessary to make a reference to the relevant statutory provisions contained in chapter xix-a of the act as inserted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976.18. chapter xix-a bears the title 'settlement of cases'. section 245a(a) defines 'case' as any ..... proceeding . . . under this act for or in connection with the assessment or reassessment of any person in respect of any year or years which ..... chapter, be reopened in any proceeding under this act or under any other law for the time being in force.'26. it appears that the provisions of chapter xix-a regarding settlement of cases were substantially amended by the amendment acts of 1984 and 1987, but those amendments are not relevant as the assessment years under .....
Tag this Judgment!Court : Gujarat
Reported in : (2006)205CTR(Guj)252; [2007]288ITR196(Guj)
..... . mr.patel further invited the court attention to para-61.8 of circular no. 204, dated july 24, 1976 being the explanatory notes on the provision of the taxation laws (amendment) act, 1975 effective from 1.4.1976 and 1.4.1977. this circular is reported in 110 itr21. it says that new explanation 1 provides that where in respect of ..... . the tribunal, therefore, proceeded on the footing that the burden to prove that the conduct of the assessee company was contumacious or dishonest and it had acted on defiance of law in the discharge of its obligation and had accordingly, concealed its income or had furnished inaccurate particulars of its income was on revenue. with regard to penalty ..... . but with regard to addition of rs. 10,112/- on account of terminal allowance or profit under section 41(2) of the act, the learned cit(a) directed the i.t.o to consider for taxation the amount of rs. 84,462/- received from insurance company for loss of capital asset, in the immediately succeeding year. 5. the .....
Tag this Judgment!Court : Gujarat
Reported in : (2009)226CTR(Guj)171; [2009]317ITR188(Guj); [2009]183TAXMAN6(Guj)
..... form of original eighth schedule, prior to insertion of sub-section (11) of section 80hh of the act, specified entire mehsana district, including kalol taluka, as 'backward area' as per list appearing in the eighth schedule of the act. by virtue of taxation laws (amendment and miscellaneous provisions) act, 1986, with effect from 10.09.1986 the explanation below sub-section (10) of section 80hh of ..... , 1987.subject :'backward area' for the purpose of section 80hh of the income-tax act, 1961 - problems arising from the omission of the eighth schedule of the income-tax act with retrospective effect - notification of backward areas - certain clarifications - regarding.by an amendment brought about by the taxation laws (amendment and miscellaneous provisions) act, 1986, explanation below sub-section (10) of section 80hh of the income-tax .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]105ITR230(Guj)
..... observed : 'in the said case, the assessee did not at any time furnish a return of his income. section 139 as it stood before its amendment by the taxation laws (amendment) act, 1970, did not empower the levy of interest where the assessment is completed without the assessee furnishing a return of his income. such an assessee may ..... be subject to other liabilities under the act but was not chargeable to interest. therefore, the decision of the andhra pradesh high court holding that ..... in one class for the purpose of enjoyment of certain privileges go hand in hand with certain liabilities imposed under the law in the case of non-performance of legal obligations under the act. the classification being founded on an intelligible differentia and the said differentia having a rational relation to the object of .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)54CTR(Guj)272; (1987)1GLR3; [1986]162ITR28(Guj)
..... in the mofussil and other places where chartered accountants are not readily available, without any corresponding substantial benefit to the government revenue. instead, by the taxation laws (amendment) act, 1975, sub-sections(2a) to (2d) of section 142 were introduced with effect from april 1, 1976. providing for statutory audit in cases ..... judgment assessment. in this connection, our attention was invited to section 44aa which was put on the statute book by the taxation laws (amendment) act, 1975, which is inserted in the 1961 act, with effect from april 1, 1976, whereunder the persons specified therein are required to keep and maintain such books of ..... a raison d'etre for the select committee of parliament to drop the provision of compulsory audit sought to be introduced by clause 39 of the taxation laws (amendment) bill, 1973. the impugned provisions, according to the petitioners, entail unreasonable restriction not justified in the public interest and, therefore, violative of article .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]107ITR214(Guj)
..... default continues. it may be noticed that under section 276 the words are 'without reasonable cause'. under section 271a which was inserted in the act by the taxation laws (amendment) act, 1975, any person failing without reasonable cause to keep and maintain such books of account and other documents as required by section 44aa or the ..... of the amount of the tax, if any, which would have been leviable. under section 272a, sub-section (2), which was also introduced by the taxation laws (amendment) act, 1975, penalty has been provided for failure without reasonable cause or excuse to furnish the return in due course of time as mentioned in section 133, ..... steel ltd.'s case : [1972]83itr26(sc) that penalty will not ordinarily be imposed unless the party obliged, either acted deliberately in defiance of law or was guilty of conduct contumacious or dishonest, or acted in conscious disregard of its obligation, it was clearly bringing in the element of means rea. the words 'conscious disregard .....
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