Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (1992)42ITD320Ctk
..... on 22-9-1986, when explanation 2 to section 139(8) and sub-section (6) of section 215, as amended by the aforesaid taxation laws (amendment) act, 1984, had already come into force, interest under sections 139(8) and 217 of the act was clearly chargeable. the learned departmental representative further submitted that the cases relied on by the dc(appeals) were not ..... order of the dc (appeals).4. the learned departmental representative urged before me that explanation 2 to section 139(8) of the act as substituted and sub-section (6) of section 215 as inserted by the taxation laws (amendment) act, 1984 with effect from 1-4-1985 justify the charge of interest under sections 139(8) and 217 in the present case. ..... explanation 2 to section 139(8), and section 215(6) were, as stated earlier, made effective from 1-4-1985 by the taxation laws (amendment) act 1984. according to them for the purposes of sections 139(8) and 217 the assessment made for the first time in a case under section 147 in .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (1993)45TTJCtk188
..... that to on 22nd sept., 1986, when expln. 2 to s.139(8) and sub-s. (6) of s. 215, as amended by the aforesaid taxation laws (amendment) act, 1984, had already came into force, interest under ss. 139(8) and 217 of the act was clearly chargeable. the learned departmental representative further submitted that the cases relied on by the dy. commissioner(a) were not ..... impugned order of the dy.commissioner(a).4. the learned departmental representative urged before me that expln.2 to s. 139(8) of the act as substituted and sub-s. (6) of s. 215 as inserted by the taxation laws (amendment) act, 1984, w.e.f. 1st april, 1985 justify the charge of interest under ss. 139(8) and 217 in the present case. it ..... expln. 2 to s. 139(8), and s. 215(6) were, as stated earlier, made effective from 1st april, 1985 by the taxation laws (amendment) act 1984. according to them for the purposes of s. 139(8) and s. 217 the assessment made for the first time in a case under s. 147 in respect of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (1996)54TTJCtk644
..... justified in confirming the levy of penalty.8. we have heard the rival submissions and also perused the records.the provisions of s. 275 of the act, as it existed prior to its amendment, by the taxation laws (amendment) act, 1987, w.e.f. 1st april, 1989, are reproduced hereunder : (a) in a case where the relevant assessment or other order is the subject matter of ..... before us. the learned counsel for the assessee submitted before us that the levy of penalty under s. 271b of the act is illegal. he submitted that as per the provisions of s. 275, as it stood prior the amendment by the taxation laws (amendment) act, 1987, w.e.f. 1st april, 1989, the penalty proceedings are necessarily to be initiated during the course of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (2006)100TTJCtk632
..... of the assessee has also stated in the written submission that as a result of the substitution of a new expln. 2 to section 139(8)(a) by the taxation laws (amendment) act, 1984, interest can be charged under section 139(8) even where an assessment is made for the first time under section 147. since the explanation is effective from ..... again and again, the legal heirs filed written submissions on 18th oct., 1996 and submitted that the notice under section 148 dt. 31st oct., 1994 was bad in law and requires to be dropped.6. although there is little mention about the irregularities of the notices in the assessment order and the challenge made by the legal heirs in ..... and the cost and expenses. that apart, he has also allowed deduction under section 80-t as per law and has computed the capital gains tax. he has, at the same time, charged interest under sections 139(8) and 2l7 of the act, as mentioned in the assessment order. however, interest charged under section 217 has been deleted by the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (2005)92TTJCtk1199
..... .e.f. 1st april, 1976 in the form of proviso under expln. 1(b) is now merged with expln. 1(b) itself by an amendment made w.e.f. 10th sept., 1986 by the taxation laws (amendment and misc. provisions) act, 1986.24. the learned authorised representative further submitted that the jurisdictional high court in case of cit v. indian metal & ferro alloys ltd. (supra ..... ) on almost identical facts had confirmed the deletion of penalty under section 271(1)(c), expln. 1. he further submitted that the learned departmental representative is not correct in stating that the law .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (1992)42ITD380Ctk
..... to them in the computation of their total income for a particular previous year. the purpose of and object behind the various amendments made in section 80c from time to time was elaborately explained by the cbdt in their circular nos. 72 dated 6-1- ..... of the dc (appeals) is that investments had been made by the assessees out of their past incomes which had already suffered taxation. this position is not challenged by the assessees and they have not contended that their savings bank accounts contained their current incomes ..... ending 31-3-1988 relevant to the assessment year 1988-89 which is under consideration, they claimed deductions under section 80c of it act, 1961 in respect of the sums of rs. 10,000 each paid by them on 5-8-1987 as contribution to the ..... revenue.4. the learned departmental representative submitted that the opinion expressed by the ito was correct in law in view of the express language used in section 80c. he further submitted that the learned dc (appeals) was not at .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (1983)4ITD219Ctk
..... of the assessment year 1975-76 when the gifts in question were made to begin with. our learned brothers expressed the opinion that the amendment to section 4(1)(a)(iii) of the wealth-tax act, 1957 ('the act'), did not apply to the assessment year 1975-76 and, therefore, the cross-gifts made and listed above could not be included in ..... part of the wealth of each of the assessees.5. the aac has expressed the opinion that the aforesaid order of the tribunal was rendered in the context of the law as obtained in respect of the assessment year 1975-76, but that it would not apply in respect of the assessment year 1978-79. while holding as above, she ..... act, 1961 where the words 'directly or indirectly' are used. when such words are omitted in section 4(1)(a)(iii) it is abundantly clear that the omission was deliberate so as not to include cross gifts as in this case. when the legislature felt the necessity of bringing the indirect transfers also into the fold of taxation net the section was amended .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (2006)101TTJCtk948
..... clause (a) of section 43b by the finance act, 1988, section 43b is now applicable not only to tax and duty but also to cess or fee, by whatever name called, payable under any law for the time being in force. this amendment is clarificatory in nature, and, therefore, has retrospective operation. therefore, the provisions of section ..... order of the learned cit(a), the assessee is in appeal before us.103. the learned authorised representative submitted that the learned cit(a) ignored the amendments made by the finance act, 1995, effective from asst. yr. 1997-98 whereby it was made mandatory to follow either mercantile or cash system of accounting. all assessees were, ..... away with the impression that this is a mistake of earlier years now rectified by the appellant ignoring the fact that this is on account of amendment made in the act.the interpretation by the cit(a) that the post-retirement medical benefit liability is different than liability on account of leave encashment is wrong. the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (2006)99TTJCtk316
..... of share capital according to the assessee-corporation.8.1 in this connection the assessee-corporation has contended that during the years 1983 to 1987, pending amendment to sfcs act and enhancement to the authorised capital of the corporation, both the state government and idbi have contributed to the share capital of the corporation in the ..... iv) because of the nature of the business undertaken by the assessee-corporation it is quite different from that of general assessees. therefore, the application of the case laws of woodcrafts industries (supra) will not be justified to the present set of, circumstances of the case. the revenue's ground no. 5 is, therefore, ..... asst. yrs. 1990-91 and 1991-92. pages 29 and 30 contain the explanation on brokerage and underwriting commission on issue of bond with citation of case law in support of the contention taken by the assessee. page 31 contains the booklet of osfc employees' provident fund regulation, 1959 containing 20 pages. page 32 contains .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cuttack
Reported in : (2007)107TTJCtk40
..... on 14th march, 2001. however, the alleged no objection of the ao, notwithstanding, the learned cit(a) should have properly appreciated the facts and law governing the issue, and upheld the taxation of the impugned receipts as revenue receipts in assessment. keeping in view the submissions made as above, it is respectfully prayed that the hon'ble tribunal ..... the view taken by the learned cit(a) on the procedure adopted by the appellant for induction of new members is bad in law and not evidenced. 9. that the appellant craves leave to add, to amend any of these grounds before or at the time of appeal.3. before coming to the specific issues raised in various grounds, ..... it is necessary to narrate the facts in brief leading to present appeal.the assessee is a company duly registered under section 25 of the companies act, the liability being limited .....
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