Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2005)92ITD148(Kol.)
..... of cross-objections referred to in sub-section (4) be accompanied by a fee of one hundred rupees." subsequently, the fee was enhanced to rs. 125 by the taxation laws (amendment) act (1970) finance act,1981 further enhanced the court fee to rs. 200 w.e.f. ist june, 1981. the basis for payment of the fee for filing appeals to the tribunal was ..... , appeals are also filed on issues such as tds defaults, non-filing of returns, etc. which may not have any nexus with the assessed income. the act, therefore, has amended section 249 of the it act to provide a fee of rs. 250 for appeals before the cit(a) and rs. 500 for appeals before the tribunal for the residuary group of appeals ..... the date of initiation of assessment proceedings. section 253(6), as it stood upto 31^st may, 1992, prior to its amendment by finance act, 1992, provided that the memorandum of appeal in form no. 36 was to be accompanied by the specified amount of fee as under: "(a) in a case .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2005)93ITD144(Kol.)
..... him on the basis of such "assessment as spelt out in the clause (ii) of sub-section (3) of section 143 of the act. the amended provisions of sub-section (2) and (3) of section 143 provides for making two types of assessment, one being assessment on limited points ..... far as prejudicial to the interest of revenue for the reasons given by him, is not justified and valid in the eyes of law.17. the issue in controversy may also be viewed from some other angle.it is widely known that certain guidelines are now-a ..... assuming jurisdiction conferred upon him under section 263 in respect of a.o.'s order made under section 143(3)(i) is not lawful and thus the ld.cits order made under section 263 cancelling a.o.'s order passed under section 143(3)(i) on 28.2 ..... cancelling the assessment order made under section 143(3)(i) by the a.o. is bad and not sustainable in the eyes of law. he further submitted that the assessee's case was selected for limited scrutiny as provided under section 143(2)(i) on the point .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1986)15ITD508(Kol.)
..... of the commissioner is confined to the orders passed by the ito only. he referred to the explanation to section 263(1) introduced by section 47 of the taxation laws (amendment) act, 1984, with effect from 1-10-1984. according to him, the explanation came into force from 1-10-1984 and so it was not available for supporting ..... with retrospective effect from 1-4-1976. the explanation to section 263(1) is introduced by section 47 of the taxation laws (amendment) act, 1984 prospectively with effect from 1-10-1984 (this amending act received the assent of the president of india on 14-9-1984). though the former explanation was given retrospective effect and the later explanation was ..... case of the department as it clearly states that the explanation takes effect from 1-10-1984 and not from any earlier date which is clear from the amending act itself. regarding the decision in the case of bejoy kumar almal {supra) he stated that it was not a declaratory legislation. consequently, it cannot be said .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1990)32ITD608(Kol.)
..... mistake the word "jewellery" was not mentioned in the disclosure petition and that subsequently, the assessee made a petition before the cit for amendment of the certificate under section 8(2) of the above act. the ito made a reference to the cit seeking clarification. the assessee's petition had been disposed of by the cit. he has ..... accordingly justified in initiating the proceedings under section 147(a). i, therefore, hold that the re-assessment made by the ito under section 147(a) is according to law and hence valid. the appellant's ground in this regard is accordingly rejected. the assessment, therefore, stands confirmed.aggrieved by the said order of the aac the assessee ..... on facts. in the circumstances, the order of the aac should be confirmed.6. we have considered the rival submissions, papers filed before us and the case law cited. the assessee filed the return of income and return of wealth for the assessment year 1976-77 on 9-5-78. the original assessment was made on .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1992)40ITD373(Kol.)
..... and miscellaneous provision) act, 1986. now it was to be seen whether the assessee has to prove beyond reasonable doubt about the existence of reasonable causes in the same ..... act. this has not been done so by the ito. the assessee, therefore, had reasonable cause for the failure under section 44ab.10. the next question regarding the "proof to be advanced in respect of the reasonable causes as has been laid down under section 273b which has come into effect from 10-9-1986by virtue of taxation laws (amendment ..... is, therefore, always 'reasonable cause'.even in strout's judicial dictionary the word "reasonable" has in law the prima facie meaning of reasonable in regard to those circumstances of which the person is called upon to act reasonably or knows or ought not to know. if a cause is reasonable having regard to the circumstances .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1993)45ITD22(Kol.)
..... have been made after april 1, 1988, and have gone to increase the book profits in any year when the provisions of section 115j of the income-tax act were applicable. this amendment will take effect from april 1, 1988, and will, accordingly, apply in relation to the assessment year 1988-89 and subsequent years. (clause 19)." 42. ..... accounting with reference to its investments in order to inflate the cost of shares and eventually understate the book profits to overcome the incidence of higher taxation under section 115j of the act for the year in which the shares have been sold. he, therefore, stated that the change in the method of valuation of quoted shares was ..... reserve. since, in this case, reserve had been validly created in the preceding year, and approved by the shareholders as well as by the authorities under the company law, the profit on sale of investments cannot but be credited to the capital reserve account. crediting it to the profit and loss account will, therefore, amount to the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1994)50ITD348(Kol.)
..... well established that full effect must be given to a statutory fiction and it should be carried on to its logical conclusion. applying this principle it is the amended law which must be held to have been in force at the lime that the order sought to be rectified was passed. the assessment orders for these years ..... of various operations in india, deployment of men and material and considerable organisation and establishment. for some time such expenditure was regulated by section 44d of the act. only the finance act, 1987 introduced section 44bb with retrospective effect from 1-4-1983. if regard is had to the position and the background set out above, it will ..... be income chargeable to tax under the provisions of section 44bb of the income-tax act, 1961 and not under the special provisions for the taxation of fees for technical services contained in section 115a read with section 44d of the income-tax act, 1961.after the above circular based on the opinion of the attorney general the matter .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1994)51ITD234(Kol.)
..... of loss claimed by the assessee. the cit(a) justified this action of a.o.applying the proviso (d) to new section 139(10) of the income-tax act inserted by taxation laws (amendment and miscellaneous provisions) act, 1986 with retrospective effect from 1 -4-1986 as this section has overriding title and, therefore, has superseded section 139(3) and section 80. according to the ..... , relied on the orders of cit(a) and argued that the provisions of section 139(10) are clearly applicable to this case as this particular provision was inserted by taxation laws (amendment and miscellaneous provisions) act, 1986 with retrospective effect from 1-4-1986. it is also submitted that as the a.o. has not extended the time for filing the return and the .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)88ITD404(Kol.)
..... , i find that the a.o. was justified in considering the status of the appellant as 'resident' thereby subjecting the appellant's overseas income of rs. 1,60,384/- to taxation herein india. the a.o.'s action is, therefore, justified and does not warrant any interference from my sides. the issue at (b) above is decided against the appellant and ..... as the return of income was filed on 22-8-91, though as per the provisions of section 139(4) of the act as amended and substituted w.e.f. 1-4-89, the assessee was allowed to file the return of income at any time before the expiry of one year from the end ..... .3. having considered the rival contentions of both the parties and having gone through the orders of the authorities below and on perusal of the provisions of law as contained in section 147 of the act, we are of the considered opinion that the a.o. had reason to believe that the income had escaped assessment clothing him the power to issue .....
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