Court : Mumbai
Reported in : 2008(6)BomCR699; 2008(4)MhLj803
..... question referred to us, therefore, is:on the facts and in the circumstances of the case, and on a true interpretation of section 274, as amended by the taxation laws (amendment) act of 1970, the inspecting assistant commissioner to whom the case had been referred prior to 1971 had no jurisdiction to impose penalty.11. it was argued ..... supp (1) scc 257. in that case the question pertained to provisions of section 274(2) of the income tax act as amended by taxation laws (amendment) act, 1970 w.e.f. 1st april, 1971. the amended section provided that if the amount of concealed income exceeds a sum of rs. 25,000/- the income tax officer shall refer ..... the appellate tribunal stated the case to the orissa high court, referring the following question of law:whether, on the facts and circumstances of the case, and on the true interpretation of section 274, as amended by the taxation laws (amendment) act, 1970, the inspecting assistant commissioner to whom the case was referred prior to april 1, 1971 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1984)8ITD645(Mum.)
..... dates for considering the exigibility of the assessee to penalties. he pointed out that the relevant provision of section 18, as it stood prior to its amendment by the taxation laws (amendment) act, 1970, with effect from 1-4-1971, was to the effect that where the value of any asset returned by any person was less than ..... purposes of section 18(1)(c). even after the amendment of the relevant provisions with effect from 1-4-1971, the law on the subject was unaffected.section 18, after its amendment by the taxation laws (amendment) act, 1975, with effect from 1-4-1976, had undergone substantial change. this amendment placed on the statute book the explanation 4 which was ..... for attending to the wealth-tax affairs of the assessee the assessee had appointed shri b.g. gandhi, a senior chartered accoutant, to look after the taxation matters. the returns were being filed by shn ishwardas valiram mahbubani, another co-partner in the firm of hariela.the assessment proceedings were being attended to by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1983)5ITD661(Mum.)
..... to hold that, following the calcutta high court decision in the case of bombay photo stores (p.) ltd. (supra), the provisions of section 104 as amended by the taxation laws (amendment) act, 1975, which took effect from 1-4-1976, did not apply to the facts of the case. the question whether the provisions of section 104 applied ..... notification so 475(e), dated 5-9-1975, issued by the central government in exercise of the powers conferred under section 1(2) of the taxation laws (amendment) act, 1975, this amendment came into effect with effect from 1-4-1976. it was the plea of the learned counsel for the assessee that as explained by the learned ..... on the plea that the liability did not exist as on the date of amalgamation. a further argument was made before the commissioner (appeals) that the taxation laws (amendment) act, 1975 amending the relevant provisions with effect from 1-4-1976 had no application to the facts of the present case. the commissioner (appeals) overruled this objection on .....
Tag this Judgment!Court : Mumbai
Reported in : 2000(3)BomCR133; [1999]240ITR447(Bom); 1999(3)MhLj527
..... are levied. it was immaterial whether the assessee paid the same or not. this position, however, has been changed now by substitution of the above proviso by the taxation laws (amendment) act, 1984 with effect from 1st april, 1985. as a result, for and from the assessment year 1985-86, deduction in respect of taxes levied by the local authority ..... only in the previous year in which such taxes are actually paid by the owner. however, in the present case, we are not concerned with the above amendment because the controversy pertains to the assessment year 1976-77. the real controversy is whether municipal taxes pertaining to earlier years demanded during the relevant previous year are ..... orderdr. b.p. saraf, j.1. by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal has referred the following question of law to this court for opinion at the instance of the revenue :'whether on the facts and in the circumstances of the case the tribunal was .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)168CTR(Bom)337; [2001]249ITR756(Bom)
..... 25, 1983. he contended that section 214 was amended by the taxation laws (amendment) act, 1984, only with effect from april 1, 1985. he accordingly contended that taxation laws (amendment) act, 1984, has no application to the facts of the case. he contended that under the law prevailing prior to the taxation laws (amendment) act, 1984, interest was payable only from the ..... assessing officer erred in granting interest to the assessee with effect from april 1, 1980. we do not find any merit in this argument. the taxation laws (amendment) act, 1984, is procedural in nature and, therefore, it will apply to all pending actions. secondly, in the present matter, the right to receive ..... was passed on october 24, 1988. at this stage, it may be noted that section 214 of the act was amended by the taxation laws (amendment) act, 1984, with effect from april 1, 1985, and by virtue of the amending act, sub-section (1a) was substituted. in other words, the assessing officer passed the order giving effect .....
Tag this Judgment!Court : Mumbai
Reported in : [1999]238ITR785(Bom)
..... high court decision.5. this controversy has, however, now been set at rest by insertion of the following explanation to clause (13a) by the taxation laws (amendment) act, 1984, with retrospective effect from april 1, 1976 :'explanation.--for the removal of doubts, it is hereby declared that nothing contained in this clause ..... that the controversy now stands resolved by insertion of the explanation to clause (13a) of section 10 of the income-tax act, 1961, with retrospective effect from april 1, 1976, by the taxation laws (amendment) act, 1984. the assessee, though served, is not represented. we have considered the submission of mr. desai. section 10(13a ..... ) of the act exempts any allowance specifically granted to an employee by his employer to meet expenditure actually incurred by him .....
Tag this Judgment!Court : Mumbai
Reported in : 2009(111)BomLR1631; (2009)226CTR(Bom)13; [2009]180TAXMAN178(Bom)
..... sought to be argued on behalf of the assessee as that would defeat the very object as set out in the statement of object and reasons to the taxation laws (amendment) act, 1973. in the light of the above, the tribunal was right in taking the view it has taken. the first question is accordingly answered against the ..... and sale of shares shall be deemed to be carrying on speculation business.our attention was invited to circular no. 204. the circular contains the explanatory notes to taxation laws (amendment) act, 1975. para.19.1 deals with the treatment of losses in speculation business. in so far as this paragraph is concerned there is no dispute in respect ..... the court to decide the true effect of the explanation to section 73 and the effect of the circular.4. the explanation to section 73 as introduced by the taxation law (amendment) act, 1973 read as under:explanation.-- where any part of the business of a company (other than an investment company, as defined in clause (ii) of section .....
Tag this Judgment!Court : Mumbai
Reported in : [2001]248ITR723(Bom)
..... the sum for which the property might reasonably be expected to be let from year to year. in our view, this later insertion of clause (b) by the taxation laws (amendment) act, 1975, is meant to cover a case where the rent per annum actually received by the owner is in excess of the fair rent or the standard rent under ..... is the basis to determine the annual value of a property. this was the sole basis prior to the assessment year 1975-76. however, after the amendment of section 23(1) by the taxation laws (amendment) act, 1975. the legislature has clearly laid down under section 23(1)(b) that when the actual annual rent received or receivable is in excess of the ..... be expected to be let from year to year. in other words, insertion of clause (b) by the taxation laws (amendment) act, 1975, covers a case where the rent for a year actually received by the owner is in excess of the lawful rent which is known as the fair rent or standard rent under the rent control legislation. the provisions of .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(1)BomCR840; (2006)202CTR(Bom)308; [2006]284ITR85(Bom); 2005(4)MhLj659
..... the regular assessment order, the assessing officer erred in granting interest to the assessee with effect from april 1, 1980. we do not find any merit in this argument. the taxation laws (amendment) act, 1984, is procedural in nature and, therefore, it will apply to all pending actions. secondly in the present matter, the right to receive the interest accrued to the assessee only ..... above question is answered in the affirmative, i.e., in favour of the assessee and against the department.'in the aforesaid judgment, this court has very clearly held that the taxation laws (amendment) act, 1984 is procedural in nature and therefore it will apply to all the pending actions, and as far as assessee in the said case was concerned, the assessment year started .....
Tag this Judgment!Court : Mumbai
Reported in : [1953]24ITR229(Bom)
..... to the huzur adalat of the baroda state, which could hear the appeal. after the merger of the baroda state, the indian parliament passed the taxation laws (extension to merged state s and amendment) act, 1949, which provided by section 7 (i) :- 'if, immediately before the 26th day of august, 1949, there was in force in any ..... no further right of appeal or right of reference would have arisen to the petitioners. for historical reasons the huzur adalat, and by the taxation laws (extension to merged state and amendment) act of 1949 and the order passed by the central government, the appellate tribunal was constituted to take the place of the huzur adalat which was ..... of appeal was given to them under the baroda law. in march, 1949, the state of baroda merged with india, and on 31st december, 1949, the taxation laws (extension to merged states and amendment) act, 1949, was passed. under this act, by section 3 of the act, the indian income-tax act of 1922 was brought into operation and extended to .....
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