Court : Delhi
Reported in : ILR1983Delhi512; [1985]151ITR93(Delhi)
..... passed before the expiration of two years from (to put it briefly) the date of completion of the assessment. these provisions were, however, amended by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. section 274(2) was amended to provide that the iac will be the authority to levy the penalty in cases where the amount of income in respect of which ..... is this aspect if the controversy that arises in these two references as well. the same type of questions will also arise in respect of the amendments made with effect from april 1, 1976, by the taxation laws (amendment) act, 1975, which restored the original measure and restricted the penalty to between 100% to 200% of the amount of tax sought to be avoided as .....
Tag this Judgment!Court : Delhi
Reported in : (1984)40CTR(Del)35; ILR1984Delhi663a; [1984]149ITR178(Delhi)
..... evaded by reason of the concealment of particulars of his income or the furnishing of inaccurate particulars of such income.......'(6) section 274 before its amendment by the taxation laws (amendment) act, 1970 provided : '274 (1)no order imposing a penalty under this chapter shall be made unless the assessed has been heard, or ..... the inspecting assistant commissioner had no jurisdiction to impose any penalty under the amended section 274(2) of the act. the tribunal observed that section 274 was amended by the taxation laws (amendment) act, 1970 with effect from april 1, 1971. under the amended section 274(2) the inspecting assistant commissioner could impose penalty only in a ..... chapter for the imposition of penalty.' the words for 'the minimum penalty impossible exceeds a sum of rupees one thousand' were. substituted by the taxation laws (aemndment) act, 1970 with effect from april i, 1971 by the following words : 'the amount of income (as determined by the income-tax officer on assessment .....
Tag this Judgment!Court : Delhi
Reported in : 1991(1)DRJ(Suppl)102; [1992]194ITR700(Delhi)
..... to income-tax assessment proceedings (other than proceedings initiated under section 147) pending at the time when the said provision was introduced by the taxation laws (amendment) act, 1975, with effect from january 1, 1976 ?' 5. under section 260 of the act, this court has power to reframe a question so as to bring out the real issue between the parties. however, as we proceed ..... tribunal was justified in holding that the provisions of section 144b are procedural and apply to all assessments pending at the time when the said provision was introduced by the taxation laws (amendment) act, 1975 with effect from january 1, 1976 3. whether, on the facts and in the circumstances of the case, the tribunal was right in .....
Tag this Judgment!Court : Delhi
Reported in : [2003]130TAXMAN509(Delhi)
..... taken a contrary view. it is, however, submitted by learned counsel for the revenue that in view of the insertion of sub-section (3) in section 80l by the taxation laws (amendment) act, 1984 with retrospective effect from 1-4-1976, it is not necessary for us to examine the issue in the light of the opinion expressed by various courts. it is ..... the order of the tribunal was passed on 26-2-1984, i.e., before the insertion of sub-section (3) by the taxation laws (amendment) act, 1984, the tribunal had no occasion to consider the effect of the said amendment in the statute.under the circumstances, we are of the view that it would be proper and expedient if the matter is remitted ..... the opinion of this court :'whether, on the facts and in the circumstances of the case, the partner is entitled to exemption under section 80l of the income tax act in respect of interest earned by the firm on bank deposits, etc., held in its name ?'although the revenue has failed to file the paper books as well as .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)2ITD244(Delhi)
..... to read as ones under section 139(1) read with section 139(8) as the said provisions stood in each of the years under consideration, prior to their amendments by the taxation laws (amendment) act, 1970 with effect from 1-4-1971. this view of ourselves finds support from the ratio of the decision of the supreme court in the case of l. ..... this section.[it may be added that in clause (hi) of the proviso to section 139(1), 'nine per cent,' had been substituted for 'six per cent' by the taxation laws (amendment) act, 1967 with effect from 1-10-1976.] we would, therefore, treat the aforesaid impugned orders of the ito under section 154, in the matter of charging of interest under ..... will not be available to the ito for charging that interest because section 139(8) which is sought to be made use of by the ito was substituted by the taxation laws (amendment) act, 1970 w.e.f. 1-4-1972. the present case is a case of wrong labelling. the interest charged by the ito is that one under section 139(1 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1982)1ITD370(Delhi)
..... ramjidas (supra), gursahai saigal v. cit [1963] 48 itr 1 (sc) and india united mills ltd. v. cept (supra). section 144b was introduced by the taxation laws (amendment) act, 1975, with effect from 1-4-1976. it lays down a new procedure, to be followed in those cases where the ito in making the assessment under section ..... 99 itr (st.) 19 and culminating in the taxation laws (amendment) bill, 1973, as reported by the select committee appearing at pages 46 to 126 thereof. the original scheme, as proposed in the bill, was that deputy commissioners ..... department, the learned counsel, shri t.r.ramachandran, referred to the legislative history of section 144b, starting with the recommendations of the wanchoo committee, clause 45 of the taxation laws (amendment) bill, 1973, the notes and comments on the clauses appearing in [1973] 89 itr (st.) 33, the select committee report on the said bill in [1975] .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1987)23ITD546(Delhi)
..... the expiry of two years from the end of the financial year in which the order sought to be revised was passed, was brought on the statute book by the taxation laws (amendment) act, 1984 w.e.f. 1-10-1984 for the following :- (b) after the expiry of two years from the date of roder sought to be revised.thus, it is ..... , the date of hearing, the date of order under setion. 263 and the date on which limitation had struck the proceedings before the insertion of section 263(2) by the taxation laws (amendment) act, 1984 w.e.f. 1-10-1984 (given on next page) :- 3. it is apparent from the statistical data (p. 549) that the commissioner issued notice under section 263 ..... the cit issued notice in the case of miss shikha gupta and others after the period provided under section 263(2) before sub-section (2) was substituted by the taxation laws (amendment) act, 1984 w.e.f.1-10-1984. therefore, according to him, the commissioner had no jurisdiction and the orders that he made under section 263 were devoid of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2005)92ITD324(Delhi)
..... to by business houses controlling groups of companies to manipulate and reduce the taxable income of such companies which are under their control. the taxation laws (amendment) act, 1975, was originally introduced as taxation laws (amendment) bill, 1973, which was popularly known as "black money bill". it is also well known that this bill was introduced as a ..... the assessee. when section 73 was introduced, it did not have the explanation. the explanation was inserted only w.e.f. 1st april, 1977, by the taxation laws (amendment) act, 1975. the explanation applies only to a company. it does not apply to assessable entities other than companies. even amongst companies, it is not applicable to ..... on behalf of the assessee based on the object for which explanation below section 73 was inserted. it was pointed out that the explanation was inserted by the taxation laws (amendment) act, 1975, w.e.f. 1st april, 1977, and that the circular no. 204, dt. 24th july, 1976, stated that "the object of this .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2007)106TTJ(Delhi)65
..... to insertion of aforesaid expln. 1 w.e.f. 1st april, 1988 the it act contained provisions of section 32(1a) to the same effect that were inserted by the taxation laws (amendment) act, 1970 w.e.f. 1st april, 1971 and omitted by the taxation laws (amendment and miscellaneous provisions) act, 1986 w.e.f. 1st april, 1988. in this view of the matter ..... or capital expenditure. of these two issues we find the first issue to be no longer material in view of the following expln. 1 inserted by the taxation laws (amendment and miscellaneous provisions) act, 1986, w.e.f. 1st april, 1988: explanation 1. : where the business or profession of the assessee is carried on in a building not ..... an indefinite future. the learned counsel conveniently omitted the expressions "merely" and "while leaving the fixed capital untouched" which are of seminal importance in relation to the law declared by the hon'ble supreme court in the case of empire jute co. ltd. (supra). the rule given is that if the asset is not part .....
Tag this Judgment!Court : Delhi
Reported in : (1986)54CTR(Del)85; ILR1985Delhi651; [1986]159ITR549(Delhi); 1986RLR115
..... the asset to the valuation officer. 20. in any case, it is not open to the respondents to contend that the provisions of section 16a are not mandatory. after the taxation laws (amendment) act, 1972, was passed, the central board of direct taxes issued circular no. 96, dated november 25, 1972, and paragraph 35 of the said circular provided for the conditions under which ..... houses which the assessed may, at his option, specify in this behalf in the return of net wealth.' 10. section 16a was incorporated in the act with effect from january 1, 1973, by virtue of the taxation laws (amendment) act, 1972. the said section provides for reference to be made to the valuation officer. the relevant portion of the said section is as follows : '16a .....
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