Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1985)12ITD520(Delhi)
..... of valuing the so-called stock-in-trade by the assessee. it may also be mentioned that as under the law, as it stood, such a conversion could not be considered to be 'transfer'. the law has been amended by the taxation laws (amendment) act, 1984, providing that such conversion could be covered under the meaning of the word 'transfer'.this ..... amendment was not clarificatory but would make a provision for such a situation and it was intended to bring into the taxation net the gain arising to a person ..... business on 6-11-1979 and the only thing which is there was the declaration made by the assessee, which was clearly from the point of view of taxation. we agree with the reasoning given by the commissioner (appeals) on this aspect of the matter. though we need not consider all the small facts mentioned .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1990)35ITD514(Delhi)
..... have had taxable income in that year. clause (d) of sub-section (3) of section 271 was also enacted by the taxation laws (amendment) act of 1975 w.e.f. 1-4-1976. in the explanatory notes to the taxation laws (amendment) act, it has been clarified that the ceiling prescribed under clause (d) of section 271(3) was meant to mitigate to some ..... would be imposable at all. this would defeat the provisions of section 271(1)(a) of the income-tax act, 1961 as well as the provisions of section 139(4a). explanation 3 to section 271 was inserted under the taxation laws (amendment) act, 1975 w.e.f. 1-4-1976. this explanation provides that if a person who has not hitherto ..... relevant portion of this decision relating to applicability of section 271(3)(d) is quoted hereunder for ready reference: the learned counsel also referred to the provision of law under which no penalty was leviable on the assessee. he pointed out that sub-section (3)(a) of section 271 provides that no penalty for failure to furnish .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1991)37ITD86(Delhi)
..... purposes of the constitution the definition of the expression 'agricultural income' as given in the income-tax act. we have already noticed that sub-section (2) of the taxation laws (amendment) act 1970 introduced some important changes with retrospective effect from 1-4-1962. the effect of this amendment was explained by the board in a circular given on 9-3-1971 no. 56: in recent ..... the decision given by the supreme court interpreting the definition of 'agricultural income' under the 1922 act will apply with equal force to the 'agricultural income' as defined in the income-tax act, 1961. in 1970 by taxation laws (amendment) act, 1970, some modifications were made with retrospective effect from 1-4-1962 but they do not impinge very much upon the subject before us. the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2004)82TTJ(Delhi)911
..... memorandum of cross-objections referred to in sub-section (4) be accompanied by a fee of one hundred rupees." subsequently, the fee was enhanced to rs. 125 by the taxation laws (amendment) act (1970) finance act, 1981 further enhanced the court fee to rs. 200 w.e.f. 1st june, 1981. the basis for payment of the fee for filing appeals to the tribunal was ..... was, therefore, with the object of doing away with the mischief for which there was no remedy in the existing law i.e. pre-amended law, as contained under section 253(6) of the it act. thus, the object of the legislature behind introducing the amendment has to be seen from this angle and the interpretation of clause (d) is to be placed after taking into .....
Tag this Judgment!Court : Delhi
Reported in : (1980)17CTR(Del)234; [1980]126ITR48(Delhi)
..... other unexplained items of wealth. section 69c which permitted an addition on the basis of unexplained expenditure was introduced only with effect from april 1, 1976, by the taxation laws (amendment) act, 1975. but that apart, even if s. 69c is taken into account, the learned counsel argued, the position would not be different. he pointed out ..... affirmative. it is no doubt true that s. 69c which makes specific provision for this situation was inserted in the i.t. act only with effect from april 1, 1976, by the taxation laws (amendment) act, 1975. but we are of opinion that the statutory provision was merely clarificatory and embodies a rule of evidence which is even ..... by the assessed during the year constituted income taxable under tbe income-tax act, 1961 2. whether, on the facts and in the circumstances of the case, the addition of rs. 10,000, as income from undisclosed sources, was justifiable in law 3. whether the finding of the tribunal that the assesses had incurred additional .....
Tag this Judgment!Court : Delhi
Reported in : [1986]157ITR273(Delhi)
..... question referred is concerned, the controversy is as to what is the period after which the penalty order cannot be passed. section 275 of the act was amended by the taxation laws (amendment) act, 1970, with effect from april 1971. the present reference relates to the assessment year 1967-68. however, the assessment was completed on january ..... 29, 1972, after the amendment had been made. 4. the limitation period for passing a penalty order was amended by altering the language of section 275 of the act ..... from time to time and, if varied, the varied time will apply and not the previous time. any amendment of the act necessarily repeals the previously existing provision. unless there is a law that the previous provision is kept alive, we cannot look at it. accordingly, the answer to the referred question .....
Tag this Judgment!Court : Delhi
Reported in : 1998VIIAD(Delhi)425; 76(1998)DLT708; 1998(47)DRJ637; [2000]246ITR571(Delhi)
..... of section 271 was preceded by the word 'deliberately' which has been omitted by the finance act, 1964 w.e.f. 1.4.1964. the explanationn-1 has been inserted by the finance act, 1964 but substituted in the present form by the taxation laws (amendment) act, 1975 w.e.f. 1.4.1976. a material part of clause b of the ..... same, the presumption will become a finding and it would be open to the authority to levy the penalty. their lordships have further held :-even after the amendment of 1964, penalty proceedings continue to be penal proceedings, similarly, the question whether the assessed has concealed the particulars of his income continues to remain a question of ..... learned sr standing counsel for revenue submitted that the decisions relied on by the petitioner are referable to the period prior to substantial amendments effected in the text of section 271 of the income-tax act and have, thereforee, no applicability to the facts of the case at hand. he placed reliance on the recent supreme court .....
Tag this Judgment!Court : Delhi
Reported in : [1973]92ITR312(Delhi)
..... . per annum on the amount of the refund due from the expiry of the period of six months to the date on which the refund is granted. by the taxation laws (amendment) act, 1970 (42 of 1970), the words 'within a period of six months from the date of the order' were substituted by the words 'within a period of ..... the plaint (though these grounds are taken in the replication) and, thereforee, this case of the plaintiffs that certain provisions of the income-tax act of 1961 are ultra virus cannot be entertained. taxation is not deprivation of property and is not governed by clause (1) of article 31 of the constitution, nor is it acquisition or requisitioning of ..... collection of tax. the levying of tax is not deprivation of property and the indian constitution gives protection against taxation save by authority of law. in this case, the tax was imposed by authority of law. tax imposed by a lawful authority is not taking away a man's property. if there is a wrong assessment it has to be corrected .....
Tag this Judgment!Court : Delhi
Reported in : [1984]7ITD25(Delhi)
..... to that part of the order which was required to be made under section 147. the argument is that the provisions of section 144b which was inserted by the taxation laws (amendment) act, 1975, with effect from 1-4-1976 does not apply to the proceedings reopened under section 147 for the assessment year 1959-60. reliance has been placed on ..... draft assessment order was made on 22-3-1976 and the assessment was framed after obtaining directions of the iac as provided under section 144b of the act which was inserted by the taxation laws (amendment) act, 1975, with effect from 1-4-1976.7. against this assessment the assessed filed an appeal to the aac and raised as many as 17 ..... grounds of appeal. the first five grounds read as under :'1. that on facts and under the circumstances of the case as well as in law, the assessment order .....
Tag this Judgment!Court : Delhi
Reported in : (2004)91TTJ(Del)138
..... so made shall be regarded as a regular assessment for the purposes of this sub-section.'9. sub-section (6) of section 215 which was also inserted by the taxation laws (amendment) act, 1984, with effect from 1-4-1985, reads as under'where, in relation to an assessment year, an assessment is made for the first time under section 147, ..... under :'regular assessment' means the assessment made under sub-section (3) of section 143 or section 144.8. explanation 2 to section 139(8) substituted by the taxation laws (amendment) act, 1984, with effect from 1-4-1985, reads as under :'where, in relation to an assessment year, an assessment is made for the first time under section 147 ..... under section 143(3) pursuant to such a notice. after the decision of padma timber depot (supra) for assessment year 1976-77 there has been an amendment in the act. such an amendment as stated hereinbefore was applicable to the assessed's case for both the years, i.e., assessment years 1988-89 and 1989-90. section 2(40) .....
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