Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2003)86ITD445(Hyd.)
..... machinery. he submitted that the assessing officer allowed the claim or depreciation on ponds for assessment years 1995-96 and 1996-97. he argued that the taxation laws (amendment) act had changed the method of allowing depreciation with effect from 1-4-1988 and the concept of "block of assets" was introduced with effect from 1- ..... -90 and as such not applicable to the facts of the case before us.he once again submitted that there is drastic change by the taxation laws (amendment and miscellaneous provisions) act, 1986 and that the new concept was not properly understood and applied by the revenue authorities.heard both sides. read all the papers on record ..... ... further, that the aggregate of all deductions in respect of depreciation shall not exceed the actual cost to the assessee in respect of such assets. by the amending act, these sub-sections have been deleted in view of the switchover to the system of allowing depreciation on blocks of assets.(j) ... further, the existing explanation .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)106ITD256(Hyd.)
..... .3.f we may also refer to the decision of apex court in cit v. dhadi sahu 199 itr 610-sc, wherein considering the effect of amendment to the provisions of section 274(2) by the taxation laws(amendment)act, 1970 with effect from april 1, 1971, the apex court vide relevant portion of the head-note on pages 611-612 of the report (199 ..... itr) held as follows- the general principle is that a law which brings about a change in the forum does not affect pending actions unless an intention to .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2007)288ITR226(Hyd.)
..... 13 we may also refer to the decision of apex court in cit v. dhadi sahu 199 itr 610 sc, wherein considering the effect of amendment to the provisions of section 274(2) by the taxation laws(amendment)act, 1970 with effect from april 1, 1971, the apex court vide relevant portion of the head-note on pages 611-612 of the report( ..... 199 itr) held as follows the general principle is that a law which brings about a change in the forum does not affect pending actions unless an ..... , subject to tax at maximum marginal rate. the term 'maximum marginal rate' has been defined in section 2(29c), brought on to the statute book, by the direct tax laws (amendment) act, 1987 with effect from 1.4.1989, as "the rate of income tax (including surcharge on income tax, if any) applicable in relation to the highest slab of income .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1992)42ITD473(Hyd.)
..... of owner occupied dwelling house involved three steps. firstly, the annual value is determined in the manner as if the property were let out to tenants. the amendment to section 23(2) by taxation laws (amendment) act, 1970, effective for and from assessment year 1971-72, assures that full municipal taxes payable are to be deducted in such computation. secondly, the amount ..... to an assessee as, from that date onwards, self-occupied property is not subjected to tax. prior to the amendment with effect from 1-4-1987, there was no concept of house or part of house. as per the existing law at the relevant time, any portion of the house, if occupied by the assessee, was subject to tax ..... from record or an obvious error and, therefore, cannot be rectified under section 154 of the income-tax act. the provisions of section 154 can be applied only in a case where the mistake of fact or mistake of law is obvious glaring and apparent from the face of the record. a debatable issue does not fall under the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2003)87ITD359(Hyd.)
..... . both are departmental officers with specified roles in assessment as clarified by the central board of direct taxes in the memorandum explaining the provisions of the taxation law amendment act, 1972. the board explained as under:- with the introduction of the new procedure and appointment of valuation officers who are experts in their respective fields, ..... to the valuation officer can be made by the wealth-tax officer. now, it is well-settled that while framing an order of assessment under a taxation law, the assessing authority exercises quasi-judicial functions. where discretion is conferred on an authority exercising quasi-judicial functions, that authority cannot be directed by the ..... of india intervened and objected to the sale in the course of certain proceedings before the supreme court. the government of india brought some amendment to the antiquities act, by way of insertion of rule 2a providing for reference to a committee for report as to the aesthetic and artistic value of any .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1992)42ITD719(Hyd.)
..... received by the assessee and not any other amount. it is precisely to meet such a situation that the second proviso was inserted by the taxation laws (amendment) act, 1984. section 16 of the said amendment act, no doubt, does not say that the proviso shall have retrospective effect; but, in our opinion, it would be consistent with reason to ..... the deposit can be made within six months from the date of payment of compensation, provided the said proviso is considered retrospectively.the proviso, however, was inserted by taxation laws (amendment) act, 1984 w.e.f. 1-4-1984. in that connection, the a.p. high court was called upon to decide the nature of the first proviso ..... following. in n.t.r. estate v. cit [1986] 157 itr 2851 (ap). in that case three explanations were inserted under section 40(b) of the taxation laws (amendment) act, 1984, w.e.f.assessment year 1985-86. but those explanations were held to be clarificatory in nature and work retrospectively in operation and they can be applied .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1992)40ITD1(Hyd.)
..... v. commissioner of income-tax (42 i.t..r.p.150). as far as the assessment year 1985-86 is concerned, the problem is solved by the taxation laws (amendment) act, 1984. in other cases since the language of section 161 is clear the status of the trustee shall be the same as that of the beneficiary and the ..... the purposes of the new provision, the term 'maximum marginal rate' shall have the same meaning as in explanation 2 to section 164 of the income-tax act. the proposed amendment will take effect from 1st april, 1985 and will, accordingly, apply in relation to the assessment year 1985-86 and subsequent years.the memorandum explaining the provisions ..... the purposes of the new provision, the term "maximum marginal rate" shall have the same meaning as in explanation 2 to section 164 of the income-tax act. the proposed amendment will take effect from 1st april, 1985 and will, accordingly, apply in relation to the assessment year 1985-86 and subsequent years.22. in memorandum explaining provision .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1994)48ITD159(Hyd.)
..... assesseeat rs. 1,22,656. admittedly, the andhra pradesh high court decision was rendered before the introduction of section 244(1a) under the taxation laws (amendment) act, 1974 with effect from 1-10-1975. the effect of the amendment brought about in section 244(1a) and also the real ambit of sub-section (2) of section 214 was examined by the delhi high ..... tax paid as well as the regular tax paid were found to be in excess of the tax due. thus, according to the delhi high court decision, after the amendment to section 244(1a) and also under the clear ambit of sub-section (2) of section 214, the assessee is entitled to interest on the excess of the advance ..... in that case was whether the advance tax adjusted towards the demand assessed, was a payment for purposes of allowing interest under section 244(1a) of the income-tax act. it is held that the moment the advance tax was adjusted towards the tax liability created under the regular assessment, the advance tax lost its identity, and took the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2004)90ITD344(Hyd.)
..... original cost is brought to tax separately under the head 'capital gains'. in terms of s. 50, which was introduced in the present form by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from 1,4.1988, the excess of the sale consideration received over the written down value is brought to tax exclusively under the head ..... any opinion on the correctness of that view, for, in our judgment, by virtue of the amendment made in section 10(2) (vii), proviso (ii), of the indian income-tax act, 1922, by section 11 of the taxation laws (extension to merged states and amendment) act, 67 of 1949, even under a realisation sale, excess over written down value not exceeding ..... viz. that the asset should have been sold when the business was carried on. therefore all that b.m. kharwar's case lays down is that after the amendment act 1949 referred to earlier even if plant and machinery is sold as a part of a realization sale the provisions of the second proviso to section 10(2) .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1987)22ITD504(Hyd.)
..... 1983 and the time limit of two years from that date for taking action under s. 263 expired on 20-3-1985. the extended time limit brought about by taxation laws (amendment) act, 1984 into s. 263 would apply only for orders passed after 1-10-1984.11. the learned commissioner did not find any force in any of the objections raised ..... of the assessees on 28-3-1985. so, the revisional orders were passed much beyond two years from the date of the assessment orders.section 263(2) was substituted by taxation laws (amendment) act, 1984, w.e.f. 1-10-1984 and it is as follows : no order shall be made under sub-section. (1) after the expiry of two years ..... 1984 was relied upon. the said circular was in the shape of a direction and it is as follows : as a consequence of the amendment of s. 263 of it act, 1961, by section 47 of the taxation laws (amendment) act, 1984 the limitation for passing an order under section 263 will, in view of general principles of interpretation of statutes, stand extended in .....
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