Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2007 section 7 amendment of section 10a Sorted by: old Court: income tax appellate tribunal itat chennai Page 1 of about 7 results (0.179 seconds)

The Income Tax Officer, T.D.S. - Vs. Raj Television Network Ltd.,

Court : Income Tax Appellate Tribunal ITAT Chennai

..... (a) for the granting or relief in respect of income on which have been paid both income-tax under this act and income-tax in that country, or (b) for the avoidance of double taxation of income under this act and under the corresponding law in force in that country, or (c) for exchange of information for the prevention of evasion or avoidance of ..... to be taxable in india. he also submitted that no services were rendered by the rtv as per explanation.22. the learned counsel for the assessee argued that by amendment in i.t. act with effect from 01.04.2001, new term for 'royalty' has been inserted, which could at the most, would cover the case of the revenue in view ..... add here that if the payment towards use of equipment such as transponder falls within the existing definition of royalty, then there was no need to amend the definition of royalty in the proposed amendment by finance bill 2001 by which new clause has been inserted. at the cost of repetition, we may also add that section 40(a)(i) .....

Mr. Raya R. Govindarajan, Prop. Vs. the Asst. Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)288ITR150(Chennai)

..... to deal with surcharge in the case of sarojini tea co.(p) ltd. v. collector of dibrugarh, court held that the expression "surcharge" in the context of taxation means an additional imposition which results in enhancement of the tax and the nature of additional imposition is the same as the tax on which it is imposed as ..... constitution of india says that no tax shall be levied or collected except by authority of law. therefore, there must be an enactment for the purpose of levy and also for collection of tax. in other words, the entire process of taxation commencing from texting statute to taking sway of the money from the pocket of the citizen ..... which is authorised by an authority of law.9. the next submission of the learned counsel for the assessee is that the chief commissioners of income tax in their conference expressed a doubt regarding levy of surcharge without any specific amendment in section 113 of the income tax act. under the income tax act, the central board of direct taxes ( .....

Subuthi Finance Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)96TTJ(Chennai)473

..... hon'ble madras high court in the case of t.s. rajam v. ced (1968) 69 itr 342 (mad) has held as under : "'mistake' is an ordinary word but in taxation law it has a special signification. it is not an arithmetical or clerical error that comes within its purview. it comprehends errors which are discerned after a judicious probe into the ..... . from the above facts and case law discussed now, we have to conclude as to whether rectification is possible in respect of this matter which has already been considered and decided in appeals upto the hon'ble high court. now, we will go through the newly inserted section 154(1a) of the act by the direct taxes amendment act, 1964, w.e.f. 6th .....

Southern Petro Chemical Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)93TTJ(Chennai)161

..... the decision of the hon'ble supreme court was based upon the provision of law as it stood prior to the amendment of the taxation laws (amendment & miscellaneous provisions) act, 1986. however, the position is different after the omission of section 34 and since after the amendment no condition remains of furnishing the information to be eligible to claim depreciation, ..... payable by way of percentage of such profits to the directors. thereafter, the learned counsel referred to section 205(2a) of the companies act to submit that after the companies (amendment) act, 1974, no dividend can be declared or paid by the company for any financial year out of the profits of the company for that ..... of cit v. new great insurance co. ltd. (1973) 90 itr 348 (bom) to the assessment year in question without considering the effect of the amendment operative from 1st april, 1968, and in thus holding that the assessee would be entitled to the deduction under section 80m on the gross dividend before deduction of .....

Binny Ltd. Vs. Asstt. Cwt, Central Circle Ii(4)

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)96ITD500(Chennai)

..... 6 and rule 8 have to be valued on the market value.schedule iii was inserted by the direct tax laws (amendment) act, 1989, with effect from 1-4-1989 and in view of the provisions of these rules, the case laws relied on by the assessee is of no assistance to him.in any case, the properties in question were treated ..... was treated as income of the respective years, as admitted before us by the learned counsel of the assessee. we find that income so recognized has not suffered any taxation because of the other business losses suffered by the assessee and therefore such treatment may have been given only to take possible tax benefit. by doing this, assessee has ..... tax, penalty or interest payable in consequence of any order passed under or in pursuance of this act or any law relating to taxation of income or profits, or the estate duty act, 1953 (34 of 1953), the expenditure-tax act, 1957 (29 of 1957), or the gift tax act, 1958 (18 of 1958) (a) which is outstanding on the valuation date and is .....

Binny Limited Vs. the Acwt, Jt. Cwt, Special Range Vi

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)280ITR179(Chennai)

..... 6 and rule 8 have to be valued on the market value.9. schedule iii was inserted by the direct tax laws (amendment) act, 1989, w.e.f. 1.4.1989 and in view of the provisions of these rules, the case laws relied on by the assessee is of no assistance to him.10. in any case, the properties in question were ..... was treated as income of the respective years, as admitted before us by the ld. counsel of the assessee. we find that income so recognized has not suffered any taxation because of the other business losses suffered by the assessee and therefore such treatment may have been given only to take possible tax benefit. by doing this, assessee has increased ..... tax, penalty or interest payable in consequence of any order passed under or in pursuance of this act or any law relating to taxation of income or profits or the estate duty act, 1953 (34 of 1953), the expenditure-tax act, 1957 (29 of 1957), or the gift-tax act, 1958 (18 of 1958)- (a) which is outstanding on the valuation date and is claimed .....

Lucky Valley Investments and Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)98TTJ(Chennai)491

..... to change of opinion of the ao. the scope and effect of section 147 as substituted w.e.f. 1st april, 1989, by the direct tax laws (amendment) act, 1987, and subsequently, amended by the direct tax laws (amendment) act, 1989, w.e.f. 1st april, 1989, as also of ss. 148 to 152 have been elaborated in circular no. 549, dt. 31st ..... to interfere with the decision of the high court." the hon'ble allahabad high court has considered the direct tax laws (amendment) act, 1987, and the amended provisions of section 147 with effect from 1st april, 1989. it has also considered amendment which is a radical departure from the original section 147, inasmuch, as clauses (a) and (b) had ..... accounts were available with the ao while framing the assessment under section 143(3) of the act, i.e., original assessment which was completed on 15th march, 1989.the interest income was not declared in the original return for taxation due to the reason that the board of directors have decided to treat the same on receipt .....

Assistant Commissioner of Vs. Selvi J. Jayalalithaa

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)282ITR112(Chennai)

..... to note that the words "on the valuation date which have been incurred in relation to the said assets" were substituted by the finance act, 1992, with effect from april 1, 1993. as such the amended definition is applicable in the context of the present case.7. our attention was invited to circular no. 663 dated september 28,1993 (see ..... therefore liability for such payment is in relation to the statute and not in relation to the asset. holding of assets is a nearest cause to the incidence of taxation. it is only causa causans. therefore it cannot be said that the payment of taxes is directly in the context of the assets held by the assessee. taking into ..... in relation to assets. liability to make payment of tax is a personal liability. the amount of tax is payable because of the mandate of the statute. provision of law is the cause without which the occurrence of tax payment would not have happened, therefore, causa sine qua non for the payment of tax is the statutory liability. payments .....

Express Newspapers Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2006)103TTJ(Chennai)122

..... for companies, i.e., 15th june, 15th september, 15th december, and 15th march. but there is no situation dealt with by the act in respect of the income earned beyond 15th march. prior to the amendment, i.e., upto 1988-89, 'capital gains' were not subject to the provisions for advance payment of tax and were to be wholly ..... pay levy at all.8. since, the issue of maintainability of the appeal is decided, we have gone through the provisions of section 234c of the act and the case law of the hon'ble apex court relied on by the learned departmental representative wherein the hon'ble apex court has dealt with the issue of nature of this ..... this section was inserted in the 1922 act in 1944 while dealing with advance payment of tax. the hon'ble apex court has dealt with historical background and found that the advance tax was introduced as a war measure probably to combat inflation, but like many other innovations in taxation legislation it has outlived the exigency which necessitated it. .....

The Jt. Commissioner of Income Vs. India Equipment Leasing Ltd.

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)111ITD37(Chennai)

..... . itat, sb- hyd 65 itd 17 held as under: the term "accrual" of income used in the companies act, as explained in the various accounting standards and as understood for the purposes of taxation laws in certain circumstances may have different meanings depending on the purpose of legislation, the context in which such expression has been ..... and doubtful debts for the purposes of income-tax.15. chapter iiib containing the provisions relating to nbfcs was inserted in the reserve bank of india act, 1934 by amendment act 55 of 1963 - statement of objects and reasons read as under: the existing enactments relating to banks do not provide for any control over ..... so as to provide for stricter supervision of the operations and working of such banks. the bill seeks to achieve these objectives.section 45ja was inserted by amendment act, 23 of 1997 - statement of objects and reasons read as under: the activities of the non-banking institutions and unincorporated bodies receiving deposits are regulated in .....