Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1996)58ITD19(JP.)
..... control legislation will have to be taken for determining the bona fide annual value. however, section 23 of the income-tax act, 1961, has been amended by the taxation laws (amendment) act, 1975, and as per the said amended law applicable for the assessment year 1976-77 onwards, where the rent received or receivable in respect of the house property is ..... be taken as the annual letting value of the house property.23. it is not disputed in this case that the provisions of section 23 as amended by the taxation laws (amendment) act, 1975, are applicable and that the actual rent received is assessable to tax as the annual letting value of the house property. neither the assessing ..... excess of the sum referred to in clause (a), the amount so received or receivable." 22. as per section 23 as it existed before its amendment by the taxation laws (amendment) act, 1975, the annual letting value of the house property was deemed to be the sum for which the property might reasonably be expected to be let .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1988)24ITD121(JP.)
..... return much afterwards is not liable to pay the interest. perhaps the legislatures in their wisdom realizing this lack of rational have introduced the explanation by means of taxation laws amendment act, 1984 which explanation reads as under: explanation 2 : where, in relation to an assessment year, an assessment is made for the first time under section ..... tax payable on the total income shall be the amount of tax which would have been payable if the firm had been assessed as an unregistered firm.' the taxation laws amendment act, 1984 has substituted the existing explanation 2 with the explanation given below and has mentioned that the new explanation shall be effective from 1-4-1985 : ..... is adding insult to the injury done by the assessee to the law. to my mind this cannot be and should not be the law and the legislature has already brought forth an amendment in the form of explanation 2 to section 139(8) by taxation amendment act, 1984 which, however, is stated to come into force with .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1993)46ITD24(JP.)
..... of the assessee increased by giving effect to the amended provisions of section 80j which were upheld by the hon'ble supreme court, the interest charged under ..... a result of any rectification or appellate order etc. he submitted that this amendment, permitting the assessing officer to increase the interest both under section 215(3) as well as in explanation 2(b) of section 139(8) had been introduced vide taxation law amendment act, 1984 with effect from 1-4-1985 and hence even if the income ..... 80j by virtue of section 80j(1a) but they had discussed in detail the historical background of those provisions starting from section 15c of it act, 1922, section 84 of it act. 1961 (before its amendment and substitution by section 80j) and rule 19a of the it rules. their lordships have also specifically held that the provisions of rule 19a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1988)25ITD124(JP.)
..... judicial member although referred to the decision of the rajasthan high court which according to him governed the issue before him relied greatly upon the amendment brought about by taxation laws (amendment) act, 1984 by which a clause was inserted with effect from 1-4-1975 in section 187 whereby it was provided that a death of ..... were any guide, we would certainly agree with the aac. we, however, find that the legislature has stepped in to further clarify the law by inserting the following proviso by taxation laws (amendment) act, 1984 : provided that nothing contained in clause (a) shall apply to a case where the firm is dissolved on death of any of ..... for all statutory purposes unless expressly saved by any provision in the income-tax act. the proviso inserted by section 33 of the taxation laws (amendment) act, 1984, did not have such an effect. the department's contention that the effect of the amendment made by the legislature by inserting the proviso was to recognise only dissolutions .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1995)54ITD269(JP.)
..... we direct that the assessing officer shall consider the chargeability of such interest in these proceedings commenced on issue of notice under section 148 with specific reference to amendment made by taxation laws (amendment) act, 1984 w.e.f.1-4-1985, keeping in view of the binding decision of the jurisdictional high court in golcha properties (p.) ltd. v ..... all such evidence whether oral or documentary, which is relevant and material to the liability, incriminates the person concerned and comes from a lawful source.10. section 132 of the act confers dangerously wide powers of search and seizure on the income-tax authorities, without any external check or safeguard for the citizen. the ..... had escaped assessments for the years under consideration. in any case, the assessing officer had good reasons to act under section 147 of the act. once he had reasons to so act the only requirement in law for such action was to record his reasons in writing and to serve on the assessee a notice containing .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1986)16ITD122(JP.)
..... of a partner or not. they have provided by means of proviso to section 187(2), which is effective from 1-4-1975 and the amendment was brought in by taxation laws (amendment) act, 1975. the amendment that is brought in rules is that 'provided that anything contained in clause (a) shall apply to a case where the firm is dissolved on ..... ito but single depreciation was only allowed for each of the two years in question. the assessee thereafter put in applications under section 154 of the income-tax act, 1961 ('the act') that the depreciation should be separately allowed at full rates for both the periods during each of the years in question. the same were rejected by the ..... . the question of the same assets getting depreciation twice and that was not the intention of the legislature do not get the support from the sections of the act. it is not the question of probabilising the intention of the legislature. the question is what did the legislature provide for.this is also the view taken by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1988)24ITD132(JP.)
..... order that the notice of demand was issued indicating the tax payable by the assessee. the assessment order was made after the introduction of s. 292b by the taxation laws (amendment) act, 1979. the impugned assessment order was in substance and effect held to be in conformity with and according to the intent and purpose of the ..... that the notice or demand was issued indicating the tax payable by the assessee. the assessment order was made after the introduction of section 292b by the taxation laws (amendment) act, 1975. the impugned assessment order was in substance and effect in conformity with and according to the intent and purpose of the income-tax ..... order did not contain the direction to levy interest, such a levy would by illegal because the inclusion of interest in the calculation sheet would not be according to law. this view proceeded on the assumption that the calculation sheet did not form part of the assessment order. these two decision were given before section 292b of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1993)46TTJ(JP.)84
..... and other records are properly maintained and faithfully reflect the true income of the tax payer." 4. we may also point out that there has been amendment in s. 271b by the taxation laws (amendment) and misc. provisions of act, 1986 w.e.f.10th sept., 1986 by the virtue of which the words "without reasonable cause" have been omitted. one more ..... amendment worthy of noticing is insertion of the words "or furnish the said report along with the return of his income filed under sub-s. (1) of s. 139 ..... . .." these were inserted by the finance act, 1988 w.e.f. 1st april, 1989. before the aforesaid amendments the penalty under s. 271b was provided where the assessee had failed to furnish the report along with the return of income. however, w. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1991)38ITD545(JP.)
..... all the facts and circumstances of the case, we are of the opinion that the revenue's case fails. the provisions of section 15(6) which were inserted by taxation laws amendment act, 1972 with effect from 1-1-1973 are very clear and read as under: 15(6) notwithstanding anything contained in section 6, for the purpose of making an assessment ..... may refer to the board's instruction in this regard which are reported in [1973] 91 itr page 1 (st.) in the form of explanatory notes on the provisions of taxation laws amendment act, 1972. at page 29 of that report, in the second part of para 49, the board has directed as under: in cases covered by the provisions of clauses (a ..... the clear instructions from the board and clear provisions of section 15(6) of the gift tax act, that part of the conduct of the assessee cannot nullify the requirements of law nor can it empower the gto to ignore the provisions of law and the instructions of the board thereon. from all these discussions it is clear that in the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Jaipur
Reported in : (1998)65ITD117(JP.)
..... that it was only the first/original assessment which could be considered as regular assessment. however, the apex court took note of the sweeping changes brought about by the taxation laws (amendment) act, 1984 brought about in the provisions pertaining to levy and grant of interest w.e.f.1-4-1985, which were common to sections 139(8) 214, 215 ..... hence no interest could be levied at the time of regular assessment also. the said income became taxable, he submitted, only on account of a retrospective amendment in section 2(14) by finance act, 1970 with effect from 1-4-1970. the belief, therefore, according to him, was bona fide. thus shri kothari vehemently urged to uphold the order ..... which the assessee was a partner. it was submitted by shri kothari that it was only as a result of the retrospective amendment with effect from 1-4-1970 in section 2(14) by the finance act, 1989 that the said capital gains became taxable beyond any doubt and hence there existed the bona fide belief that the .....
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