Court : Delhi
Reported in : 2000(57)DRJ635
..... to in sub-section(2) of section 64. said sub-section was introduced with effect from 1st april, 1971 by taxation laws (amendment) act 1970 and at the relevant point of time reads as follows: '64(2) where, in the case of an individual being a member of a hindu undivided ..... property' in the case at hand would mean the person who had thrown the property into the common hotch-potch and that constituted the act of blending. though the provision was introduced by taxation laws (amendment) act, 1975 with effect from 1st april, 1976, it covered transactions where a capital became the property of the assessed by the mode referred ..... referred to as the converted property), then, notwithstanding anything contained in any other provision of this act or in any other law for the time being in force, for the purpose of computation of the total income of the individual under this act for any assessment year commencing on or after the 1st day of april, 1971, - (a .....
Tag this Judgment!Court : Delhi
Reported in : 2001IAD(Delhi)613; 89(2001)DLT717; [2001]249ITR54(Delhi)
..... the formation of trusts and to reduce tax arrears. pursuant to some recommendations of the committee, the taxation laws (amendment) act, 1972, was enacted incorporating those suggestions whereby chapter xx-a was inserted in the act with effect from november15, 1972. the statement of objects and reasons for its enactment mentioned that it was ..... :'this court in hitendra vishnu thakur v. state of maharashtra, : 1995crilj517 , has culled out the principles with regard to the ambit and scope of an amending act and its retrospective operation as follows : '(i) a statute which affects substantive rights is presumed to be prospective in operation unless made retrospective, either expressly or ..... the date of publication in the gazette. neither in section 6 nor in any other section of the amending act was it mentioned that the act would have retrospective effect. if we hold that the act would have retrospective effect it would go against the intention of the legislation.' it was also contended that .....
Tag this Judgment!Court : Delhi
Reported in : 2002IVAD(Delhi)516; 96(2002)DLT399; [2002]254ITR476(Delhi)
..... the powers or performs the functions of an income-tax officer in pursuance of an order made under section 125 or section 125a.' the said section was inserted by taxation laws (amendment) act, 1975, which took effect from january 1, 1976. the purpose of the said section appears to be the reduction of the area of dispute between the ito ..... also be invoked section 21 of the general clauses act envisages that power to issue an order would include a power exercisable in the like manner and subject to the like sanctions and conditions (if any), to add, amend, vary or rescind the same. interpretation of the provisions of law must be made having regard to the object and ..... be invoked. section 21 of the general clauses act, envisages that power to issue an order would include a power exercisable in the like manner and subject to the like sanctions and conditions (if any), to add to, amend, vary or rescind the same. interpretation of the provisions of law must be made having regard to the object and .....
Tag this Judgment!Court : Delhi
Reported in : (2003)184CTR(Del)273
..... taken a contrary view. it is, however,submitted by learned counsel for the revenue that in view of the insertion of sub-section 3 in section 80l by the taxation laws (amendment) act, 1984 withretrospective effect from 1st april, 1976, it is not necessary for us to examinethe issue in the light of the opinion expressed by various courts. it is ..... the order of the tribunal was passed on 26th feb., 1984, i.e., before the insertion of sub-section 3 by the taxation laws (amendment) act, 1984. the tribunal had no occasion to consider the effect of the said amendment in the statute.7. under the circumstances we are of the view that it would be proper and expedient if the matter is ..... question for the opinion of this court :'whether, on the facts and in the circumstances of the case, the partner is entitled to exemption under section 80l of the it act in respect of interest earned by the firm on bank deposits, etc. held in its name.'2. although the revenue has failed to file the paper books as well .....
Tag this Judgment!Court : Delhi
Reported in : 100(2002)DLT318
..... in the instant case, has failed to discharge his onus of proof. the aforesaid explanation was amended by the taxation laws (amendment) act, 1975, with effect from 1st april, 1976. the amendment was prospective in effect and in the year under reference, the amendment was not in force. though the penalty proceedings as penal in nature, in the facts of ..... aforementioned was added. the question is whether the principles enumerated in anwar ali's case : [1970]76itr696(sc) continue to be good law even after the aforesaid amendment affected by the finance act, 1964.the following principles were enunciated in anwar ali's case : [1970]76itr696(sc) :(a) the proceedings under section 28 are ..... at the aforementioned finding insofar as it failed to take into consideration the fact that the provisions of section 271(1)(c) of the said act had undergone an amendment in terms whereof the burden of proof was on the assessed.the learned counsel would contend that the decision of commissioner of income tax v. .....
Tag this Judgment!Court : Delhi
Reported in : [2001]247ITR718(Delhi)
..... to substantiate the reasons for the delay in payment of the admitted tax, if any. this is clear from a proviso to section 140a.7. prior to the amendment by the taxation laws (amendment) act, 1975, an assessed could file its return and then calculate the tax payable in accordance therewith. if he finds that such tax was in excess of rs. 500 ..... the basis of that return as reduced by any tax already paid under any provision of this act exceeds five hundred rupees, the assessed shall pay the tax so payable within thirty days of furnishing the return. (2) after a provisional assessment under section 141 ..... learned counsel for the revenue. there is no appearance for the assessed in spite of service of notices.5. section 140a was inserted by section 34 of the finance act, 1964. the section at the relevant time read as follows :'140a. self-assessment.--(1) where a return has been furnished under section 139 and the tax payable on .....
Tag this Judgment!Court : Delhi
Reported in : (2001)168CTR(Del)266; [2001]250ITR157(Delhi); [2001]116TAXMAN138(Delhi)
..... the explanationn introduced by the finance act, 1964. the effect of the said amendment, so far as we are concerned, is that where, in respect of facts material to the ..... 271, by the said finance act (section 40 of the finance act, 1964). in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the quantum of tax sought to be avoided under the then existing provisions. subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). four explanationns were substituted for .....
Tag this Judgment!Court : Delhi
Reported in : (2010)228CTR(Del)262; [2010]320ITR420(Delhi); [2009]185TAXMAN74(Delhi)
..... capital nature is not admissible to deduction as business expenditure since the same is not treated as revenue deduction however by taxation laws (amendment) act 1970 the legislature introduced section 35-d of the act which came into force with effect from 141971 it enables amortization of specified preliminary expenses which are otherwise not admissible deductions ..... ....6. circular no. 56 dated 19.7.1971 containing explanatory notes on the taxation laws (amendment) act, 1970 clarifies the legislative intent behind insertion of section 35-d of the act on the statute in the following terms:42. section 8 of the amending act has introduced two new sections 35-d and 35e, w.e.f. 1st ..... meaning that should be given to these words 'industrial undertaking' must be the natural meaning it is all the more so because the income-tax act is one consolidating and amending the law relating to income-tax and super tax (see rao bahadur ravulu subba rao v. commissioner of income tax : (1956) 30 itr 163 ( .....
Tag this Judgment!Court : Delhi
Reported in : (2001)164CTR(Del)547; [2001]249ITR31(Delhi)
..... not availed of by him.' 6. it has to be noted that clause (va) of section 17(1) was inserted by the taxation laws (amendment) act, 1984, with retrospective effect from april 1, 1978.7. section 17(3) of the act at the relevant time reads as follows : '(3) 'profits in lieu of salary' includes- (i) the amount of any ..... assailed the appellate assistant commissioner's conclusion on the ground that section 17(1)(vi) had no application. the tribunal analysed the provisions of section 17 of the act and observed that the appellate assistant commissioner was not correct in holding that the payment received on encashment of accumulated leave is covered by section 17(1)(vi) ..... as follows :for the assessment year 1972-73 corresponding to the financial year 1971-72 the assessee, an individual, claimed relief under section 89(1) of the act in respect of rs. 10,709, received on account of encashment of accumulated leave. the income-tax officer rejected the claim on the ground that such relief was .....
Tag this Judgment!Court : Delhi
Reported in : (2004)188CTR(Del)78; 2004(74)DRJ299; [2004]270ITR534(Delhi)
..... from house property is its 'annual value'. the annual value has to be determined in accordance with the provisions of section 23 of the act. the relevant part of section 23, as substituted by the taxation laws (amendment) act, 1976, with effect from 1 april 1976, reads as follows:'s.23. annual value how determined- (1) for the purposes of section ..... the view taken by the appellate authorities below. thus, the order of the tribunal does not give rise to a question of law, much less a substantial question of law, to fall within the limited purview of section 260a of the act, which is confined to entertaining only such appeals against the order which involves a substantial question of ..... assessed on two grounds, namely; (i) the issue being one of law, could not be the subject-matter of prima facie adjustment under section 143(1)(a) of the act and (ii) the concept of annual letting value under sections 22 and 23 of the act does not permit the assessing officer to assess the arrears of rent for .....
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