Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2007 section 11 omission of second schedule Court: kolkata Page 11 of about 122 results (0.089 seconds)

G.D. Agarwalla Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1996)59ITD230(Kol.)

..... then his orders cannot be sustained. section 45(2) has to be read with section 2(47)(iv). both the provisions were inserted by the taxation laws (amendment) act, 1984 with effect from the assessment year 1985-86. as per section 2(47)(iv) 'transfer' includes the conversion of capital asset by the owner thereof into stock- ..... to preventing the avoidance of tax on such capital gains through the device of converting a capital asset into a trading asset, the amending act has substituted the definition of "transfer" in section 2(47) of the act by a new definition to provide that, in a case where a capital asset is converted by the owner thereof into, or is ..... . these provisions take effect from the assessment year 1985-86. however, as is clear from the objective sought to be achieved by amending the definition of the word "transfer" in section 2(47) of the act and enlarging the same to include cases of conversion of capital asset into stock-in-trade, the new provisions were introduced to overcome .....

West Bengal State Co-operative Bank Ltd. Vs. Joint Commissioner of Inc ...

Court : Kolkata

Reported in : (2004)190CTR(Cal)245,[2004]267ITR345(Cal)

..... two sections is distinctly discernable. the provisions of section 44ab of the said act are applicable in the case of the classified assessee as mentioned therein having regard to the limit ..... compulsorily under section 44ab of the said act which has been incorporated in the act on and from april 1, 1985, by the finance act, 1984, whereas section 142(2a), (2b) was incorporated much earlier than the aforesaid section with effect from april 1, 1976, by the taxation laws (amendment) act, 1975. the difference between the aforesaid ..... decided before i hold the aforesaid impugned order of approval followed by direction for special audit under section 142(2a) of the said act being bad in law is whether the commissioner of income-tax as well as the assessing officer have exercised their jurisdiction as per the mandate of the aforesaid .....

Joshi and Co. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (1987)61CTR(Cal)1,[1986]162ITR268(Cal)

..... it was held by a division bench of the madhya pradesh high courtthat after the insertion of the proviso to section 187(2) of the income-tax act, 1961, by the taxation laws (amendment) act, 1984, with effect from april 1, 1975, a firm would stand automatically dissolved on the death or retirement of any of its partners and the new ..... period and, assuch, the claim was not maintainable.11. on an application of the assessee under section 256(1) of the income-tax act, 1961, the following questions have been referred as questions of law arising out of the order of the tribunal for the opinion of this court i ' (1) whether, on the facts and in the ..... expression ' partnership constituted under a document '. the kerala high court noted that the supreme court had laid down the law in construing the rules framed under the old act which had been embodied in the sections of the subsequent act of 1961. the supreme court, however, did not lay down categorically whether such a document should be in existence .....

Positive Commercial Co. Ltd. and anr. Vs. State of West Bengal and ors ...

Court : Kolkata

Reported in : (1991)2CALLT96(HC)

..... apply to the notified commodities seized under this section and lying in the custody of the prescribed authority on the date of coming into force of the west bengal taxation laws (amendment) act, 1984.9. further, rules 15 & 16 of the said rules are also set out hereunder :-(i) the state government may set up check-post at ..... declaring that the provisions 'of section 9 as amended would have effect and should be deemed always to have had effect in relation, to ..... payment of any tax required to be collected under this act in such state or in relation to any process connected with such assessment, re-assessment, collection or enforcement of payment as if the tax under this act were a tax under such sales tax law'. the amending act of 1976 also contained, inter alia, a validating provision .....

Calcutta Electric Supply Corporation Ltd. Vs. Commissioner of Income-t ...

Court : Kolkata

Reported in : [1989]179ITR580(Cal)

..... with reference to the tax so reduced and the excess interest paid, if any, shall be refunded. it also makes provisions for increasing the amount of interest 17. by the taxation laws (amendment) act, 1984, the old sub-section (1a) has been deleted and a new sub-section has been inserted. this new sub-section has made provision similar to that contained in section ..... or the initial assessment as in the present case. even if the commissioner of income-taxsets aside the assessment under section 263 of the act and any fresh assessment is made, there is no provision under the law by which the amount of interest originally payable on the basis of the first or initial assessment can be withdrawn. hence, the tribunal was .....

East India Pharmaceutical Works Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (1978)2CompLJ51(Cal),[1978]114ITR591(Cal)

..... principle whatsoever can make it a deductible expenditure under section 37(1) of the act in view of the aforesaid mandate of the law.22. further, the provisions of section 80v, introduced with effect from april 1,1976, by section 26 of the taxation laws (amendment) act, 1975, cannot be ignored in deciding the instant question before us. it provides ..... that any interest paid by an assessee in the previous year on any money borrowed for the payment of tax due from him under the act shall be deducted in computing his total income. ..... a business' is wider in scope than the expression 'for the purpose of earning profit'. it is also settled law that an expenditure cannot be allowed as business expenditure under section 37(1) of the act unless it was incurred or laid out directly or indirectly by an assessee wholly and exclusively for the purpose of .....

Union of India and anr. Vs. Income Tax Settlement Commission

Court : Kolkata

..... factual aspect, it would be profitable and/or relevant to trace out the power of settlement commission from chapter xix-a of the said act. the said chapter was introduced by the taxation laws (amendment) act, 1975 with effect from 01-04-1976. the mechanism is provided therein for making an application for settlement of the cases pertaining to ..... assessee in a prescribed form and manner, with full and true disclosure of his income which has not been disclosed before the assessing officer. section 245d(1) of the said act ..... extraneous to the said application. section 245 i says that the said order is conclusive and shall not be reopened in any proceeding under the act or any other law for the time being in force. sub-section 6b of section 245d bestowed the power on the settlement commission to rectify any mistake apparent from .....

Kanoria Overseas Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1986)18ITD44(Kol.)

..... regard. in respect of the point of jurisdiction after assessment was completed under section 144b, the commissioner was of the view that after clarification made by the taxation laws (amendment) act, 1984, this contention of the assessee has no force. he also considered other objection that the order of the ito was not erroneous or prejudicial to the ..... after giving the assessee an opportunity of being heard. hence, this appeal by the assessee.5. it is submitted on behalf of the assessee that the commissioner acted wrongly in initiating proceedings under section 263 and to cancel the assessment on the grounds noted in the order. in fact, the submissions made before the commissioner ..... of the revenue. the commissioner found that since the ito failed to charge interest under section 217 while passing order under section 143(3)/144b of the act without giving any reason, the order of the ito was erroneous and prejudicial to the interest of the revenue.4. the commissioner took into account the .....

Satadal Savings and Investments Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1992)40ITD117(Kol.)

..... conditions that the return of loss should be filed within the period lald sown under section 139(1) or within the extended time allowed by the ito as amended by taxation laws (amendment) act, 1984 relevant for the assessment year 1985-86. it is also the case of the appellant that the ito ought to have heard the appellant and elicited ..... section 80 is a mandatory provision and it starts with a "non-obstante clause" and, therefore, overrides the provisions of section 72 of the act. the appellant should have followed the law and then he would have been entitled to the benefit of section 72. the question of following rules of natural justice or giving any hearing to ..... being directory and not "mandatory". as to how mandatory and directory enactments have to be construed the law has been clearly and succinctly lald down by lord halsbury in article 656 to the effect that -- where a statute requires an act to be done at or within a particular time, or in a particular manner, the question arises .....

Smt. Maina Devi Nahata Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1995)52ITD668(Kol.)

..... up the plea of limitation under section 153(2a). we have to uphold the plea. the relevant dates are given above. section 153(2a) which was inserted by the taxation laws (amendment) act, 1970 to apply from the assessment year 1971-72, is reproduced below : notwithstanding anything contained in sub-sections (1) and (2), in relation to the assessment year ..... if the ito wishes to take advantage of section 153(1)(b), the assessee should be informed of concealment within the normal period of limitation prescribed by the act and if that is not done, the extended period of limitation under that provision would not be available. in the present case we have no evidence produced before ..... appeal before the cit(a). the first contention on behalf of the assessee was that the assessment was barred by limitation prescribed by section 153(2a) of the act. according to the assessee the fresh assessment ought to have been completed on or before 31-3-1986, computing the period of two years prescribed by the .....