Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2005 section 5 amendment of section 80 ia Court: income tax appellate tribunal itat jodhpur Page 1 of about 25 results (0.143 seconds)

Lotus Gums and Chemicals Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2008)116TTJ(Jodh.)542

..... placed on the judgment of the hon'ble supreme court in the case of t.s.balaram, ito v. volkart bros. and ors. . the taxation laws (amendment) act, 2005 has carried out an amendment by inserting proviso clauses below sub-section (3) of section 80hhc with retrospective effect from 1st april, 1998 and also under expln. (baa) whereby for ..... with retrospective effect from 1st april, 1998 it was held that there was mistake which the ao could rectify under section 154 of the act. he also found that in view of taxation laws (amendment) act, 2005 deduction under section 80hhc on depb is not allowable, particularly when there is no cost of acquisition in respect of depb and ..... the issue is a debatable one, he requested him to withdraw the notice so issued.4. the ao, however, taking note of the amendment made retrospectively by taxation laws (amendment) act, 2005 opined that there was mistake apparent from record which he decided to rectify after considering the assessee's reply. he also found that .....

income Tax Officer Vs. Choudhury Farrque Ali and Marble

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2004)82TTJ(Jodh.)1

..... , and instead, as many as four explanations have been inserted to section 271(1)(c) of the act prescribing different deeming provisions. explanation 5 has been added in 1984. explanation 6 has been added in 1989.12. amendments made by the taxation laws amendment act, 1975, w.e.f.1976 are prospective in effect and are hot applicable in asst. yr.1974 ..... & haryana high court in the case of vishwakarma industries v. cit (1982) 135 itr 652 (p&h)(fb) that in view of the amendment of section 271(1)(c) by the finance act, 1964, and the insertion of the explanation, the import of the explanation is to shift the onus to prove from the department where the returned ..... relating upto and including asst. yr. 1975-76.14. the deeming provisions are not unknown to fiscal and other civil laws, but deeming, provisions in criminal and quasi criminal laws are, abhorrent to the judiciary. still, as the law stands after 1975 amendment, they do exist.p.r.basavappa & sons v. cit (2000) 243 itr 776 (kar) in which the ' .....

Smt. Saraswati Devi Gehlot Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2008)304ITR354(Jodh.)

..... ao invoking the general powers of enquiry to make a reference in different circumstances and for other purposes. it is noteworthy that section 55a was introduced in the act by the taxation laws (amendment) act, 1972, when sections 131(1), 133(6) and 142(2) were already in the statute book. learned counsel for the appellant has correctly submitted that if ..... authorities below, it is obvious that the assessee had neither produced these two persons for verification before the ao nor even confirmations were filed. it is trite law that in order to establish the genuineness of a credit not only the identity and the capacity of the creditor is required to be proved but also the ..... of section 142a, which are as under: 142a. estimate by valuation officer in certain cases.--(1) for the purposes of making an assessment or reassessment under this act, where an estimate of the value of any investment referred to in section 69 or section 69b or the value of any bullion, jewellery or other valuable article .....

Sumerpur Co-operative Marketing Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jodhpur

..... claim for the reason that it was not supported by depreciation chart. the learned authorised representative submitted that by the taxation laws (amendment & misc. provisions) act, 1986 w.e.f. 1st april, 1988, which has omitted section 34(1) of it act, 1961, and accordingly, the assessee is no longer obliged to furnish the prescribed particulars of the assets which were ..... in holding that the additional tax was chargeable since there was loss even after adjustments made. this ground was not pressed as there was an amendment in section 143(1a) by the finance act, 1993, retrospectively w.e.f. 1st april, 1989, and making additional tax leviable even in the cases of loss also.4. we ..... required under rule 5aa. further, the rule 5aa of the it rules has also been omitted by the it (third amendment) rule, 1987 w.e.f. 2nd april, 1987 .....

Arihant Tiles and Marbles (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)104TTJ(Jodh.)149

..... industries (p) ltd. v. cce (supra), considered the activities carried on by the assessee for the purpose of taxation under the central excise act, 1944. the hon'ble supreme court, as pointed out earlier, laid down the law that the activities of cutting, trimming and polishing of marble does not amount to manufacture or production of article or ..... in which it has been rendered. the decision of the supreme court in the case of aman marble industries (p) ltd. (supra) is before the amendment in the central excise act, 1944 and, therefore, is applicable to the present case. subsequent decision in the case of kores india ltd. (supra) is not applicable as it has ..... engages in their production or manufacture on the own account;' the definition of excisable goods had also been amended to mean "goods specified in the schedule to central excise tariff act, 1985 as being subject to duty of excise". before this amendment, the hon'ble supreme court in the case of aman marble industries (p) ltd. v. cce .....

Harshavardhan Chemicals and Vs. Asstt. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)101ITD66(Jodh.)

..... was the successor of the lsc company and the state government fixed the charges for supply of electricity w.e.f.1.2.1952. after the amendment of the electricity [supply] act, 1948 in 1956 the assessee company increased the charges. this unilateral increase in the rates led to the institution of suits by consumers, which were ..... be correct. the subsidy amount did not bear the character of the appellant's income at the time it reached him and therefore, it was not eligible for taxation. (5) the question whether real income had materialized to the appellant had to be considered with reference to the commercial and business realities. when an amount received ..... any express provision of the relevant statute'. so the condition precedent for applying rules of commercial accounting is that these should be in conformity with the provisions of law. if there comes out any conflict between the two, it is only the statutory provision that would have an overriding effect and would hold the field. the .....

Mecshot Blasting Equipments Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)95TTJ(Jodh.)1106

..... of section 43b. thereafter, circular no. 674, dt. 29th dec., 1993, was brought out providing that where instead of amending the sales-tax act, the state government has issued government orders notifying schemes under which sales-tax is deemed to have been actually collected and disbursed as loans; such government orders ..... deduction from their income by virtue of provisions of section 43b. it has been explained in this circular that if the state government makes an amendment in the sales-tax act to the effect that the sales-tax deferred under the scheme shall be treated as actually paid, such a deeming provisions will meet the requirements ..... so as to meet the requirements of section 43b. it was held that a question of law arose from the order of the high court. it is, therefore, apparent that when necessary amendment has been made in the sales-tax act or notification has been issued for allowing sales-tax deferment, the provisions of section 43b would .....

Narayan Ram Chhaba Vs. Ito, Ward-i, Nagaur

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)96ITD163(Jodh.)

..... may, it is seen that the assessee had offered interest income of rs. 26,250 for taxation in the assessment year 1999-2000. it has been stated by the learned a.r.that this interest represents the interest charged by the assessee at the rate of ..... and cannot be determinative of the source of investment as claimed by the assessee. if the interest income is actually earned by the assessee but is not offered for taxation in the return of income, the remedy should be to charge such interest to tax, rather than not accepting the source of the amount. be that as it ..... statutory obligation is the result of a quasi-criminal proceeding, and 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 further held that whether penalty should be imposed for failure to perform a statutory .....

Kothari Departmental Stores (P) Vs. the Assessing Officer Income-tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2005)278ITR214(Jodh.)

..... does not seem to be reasonable as per the wisdom of the court or tribunals, the legislature is free to incorporate an amendment so as to rationalize the payment of fee to the tribunal. however, as the law stands as of now, the assessee is required to pay the fee on the basis of the income as computed by the ..... view that the legislature has fixed the appeal fee payable by the assessee to the income as computed by the assessing officer. i have referred to various provisions of the act relating to the filing of returns and making of assessment by the assessing officer and subsequent appellate proceedings before the cit(a) and the itat. in cit v. ..... or fund or trust or institution has been rescinded." 8. the contentions advanced on behalf of parties are to be considered in the light of the aforementioned provisions of the act. as is evident from section 143(3) the assessing officer is empowered to make an assessment and assess the income of the assessee. if the assessee accepts the assessment, .....

Uma Polymers (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)284ITR1(Jodh.)

..... assigning any reason therefor decline to register a transfer of any share whether fully paid or partly paid.a pubic company, as per the companies (amendment) act means a company which : 19. now we shall discuss the lifting the corporate veil specially in the case of private limited company for protection of ..... to establish conclusively that the finding regarding the genuineness of the subscribers and the transaction suffers from any irrationality, we see no substantial question of law arising for our consideration in this appeal to warrant interference. this appeal accordingly fails and is hereby dismissed.the jurisdictional high court has taken same ..... relate to public limited companies.19. on the other hand, the learned authorised representative has submitted that there is no decision or any provision of law, which differentiates between a private limited company or public limited company for substantiating the view, taken by the learned departmental representative. in addition to that .....