Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2007 section 9 omission of section 4 Court: income tax appellate tribunal itat mumbai Page 1 of about 376 results (0.150 seconds)

First Wealth-tax Officer Vs. Smt. P.H. Harilela

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 .....

Orkay Silk Mills (P.) Ltd. Vs. Income-tax Officer

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 .....

B. Jamasji Mistry (P.) Ltd. Vs. Third Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1985)12ITD546(Mum.)

..... in those assessments, following the order of the tribunal, municipal valuation had been preferred in determining the annual value in view of the change in section 23, effected by the taxation laws (amendment) act, 1975, operating from 1-4-1976. the unsuccessful assessee is on further appeal to the tribunal.4. the principal contention of shri palkhivala, the learned counsel for the assessee, is ..... approach the matter by considering what is the mischief aimed at by this act", the gravemen of the revenue was that part of the rental income received by the landlords (owners was escaping tax and to prevent this, the amendment to section 23 was proposed by clause (8) in the taxation laws (amendment) bill, 1973, and in the statement of objects and reasons, the following .....

Berlia Chemicals and Traders (P) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... co. v. cit (1990) 183 itr 1 (sc). in that case, the supreme court was dealing with the provisions of section 40(b) and with expln. 1 inserted by the taxation laws (amendment) act, 1984, in clause (b) of section 40. one of the arguments advanced on behalf of the assessee was that the insertion of expln. 1, though later in point of time ..... way of lease rental. in the process, if assessee gets tax sops to which it is entitled under the law, it cannot be described as a colourable device. when the seller of the asset has offered rs. 26 lacs for taxation as short-term capital gain and when the lease rentals earned by the assessee have suffered tax, it is ..... as a change in the law as it then obtained." in the present case also, memorandum explaining the provisions in finance (no. 2) bill, 1996, through which expln. 4a was inserted to section 43(1), makes it expressively clear that the amendment will come into effect from 1st april, 1997 and will, accordingly, apply in relation to asst. yr. 1997 .....

First Income-tax Officer Vs. Bharat H. Patel

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1985)12ITD663(Mum.)

..... on the order of the aac.5. on the other hand, the learned departmental representative, shri raju, referred to the explanation to section 16(i), inserted by the taxation laws (amendment) act, 1984, with retrospective effect from 1-4-1975. he, therefore, submitted that the maximum limit up to which the standard deduction under section 16(i) can be ..... up for consideration before us.4. the assessee's learned counsel, shri patel, submitted to us that after the explanation to section 16(i) inserted by the taxation laws (amendment) act, 1984, with retrospective effect from 1-4-1975, which covers the assessment year 1975-76 under consideration here, the controversy on this issue has come to an ..... the time of the decision.viewed in this context, it cannot be disputed that in view of the explanation to section 16(i), inserted by the taxation laws (amendment) act, 1984, with retrospective effect from 1-4-1975, the maximum limit up to which standard deduction under section 16(i) can be allowed will in no .....

Sevantilal M. Sheth Vs. First Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1984)8ITD632(Mum.)

..... to "the converted property or any part thereof insofar as it is attributable to the interest of the individual in the property of the family". after the amendment by the taxation laws (amendment) act, 1975, with effect from 1-4-1976, the expression 'insofar as it is attributable to the interest of the individual in the property of the family ..... would be a question whether the extent of property if at all includible in the assessee's net wealth is capable of computation. the amendment brought in by the taxation laws (amendment) act, 1975, cannot be relevant for the assessment years under appeal. we have only to lean on the position as it obtained prior to the ..... in the hands of the huf subsists.the inclusion was, it was claimed, not warranted in law especially in the light of a proviso to section 4(1a)(c) as it stood before the amendment of the same by the taxation laws (amendment) act, 1975. the commissioner rejected the arguments of the assessee. in fact, the individual's assessment was .....

Fifth Wealth-tax Officer Vs. P.D. Store

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1987)22ITD111(Mum.)

..... applicable at the time of the filing of the original returns would govern the imposition of penalty. section 18(3) prior to its amendment with effect from 1-4-1976 by taxation laws (amendment) act, 1975 was as follows :-- (3) notwithstanding anything contained in clause (iii) of subsection (1), if, in a case falling under clause (c) of that ..... the conditions imposed for exercising jurisdiction by the statute have been fulfilled. the statute, namely, sub-section (3) of section 18 as it stands after the amendment on 1-4-1976 requires previous approval of iac and not of commissioner of wealth-tax. the iac is the statutory authority whose approval would confer jurisdiction on ..... thousand rupees, the wto shall refer the case to the iac who shall for the purpose have all the powers conferred under this section for imposition of penalty.after the amendment with effect from 1.4.1976, sub-section (3) reads as follows :-- (3) notwithstanding anything contained in clause (iii) of subsection (1), if, in .....

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... of a concessional loan had amounted to a benefit, there was no need for parliament to have inserted clause (vi) in section 17(2) of the act by the taxation laws (amendment) act, 1984.73. the learned counsel addressed us on the reliance placed by the department on the judgment of hon'ble supreme court in the case of cit v ..... accept every device employed by an assessee to avoid its tax liability and that the only remedy with the revenue in such situation was to seek a specific amendment of law from the parliament to disregard that particular device. the learned cit, dr pointed out that in the case of azadi bachao andolan hon'ble supreme court was ..... compute tax liability in manner most beneficial to the taxpayer, he was not entitled to resort to a device for the purpose of avoiding taxation that may amount to "a discreditable evasion of the taxing laws". the learned cit, dr, thus, vehemently argued that as far as the two principles viz., duke of westminster principle and ramsay principle .....

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96ITD1(Mum.)

..... of a concessional loan had amounted to a benefit, there was no need for parliament to have inserted clause (vi) in section 17(2) of the act by the taxation laws (amendment) act, 1984.the learned counsel addressed us on the reliance placed by the department on the judgment of honble supreme court in the case of cit v. india ..... accept every device employed by an assessee to avoid its tax liability and that the only remedy with the revenue in such situation was to seek a specific amendment of law from the parliament to disregard that particular device. the learned cit, dr pointed out that in the case of azadi bachao andolan honble supreme court was ..... compute tax liability in manner most beneficial to the taxpayer, he was not entitled to resort to a device for the purpose of avoiding taxation that may amount to "a discreditable evasion of the taxing laws". the learned cit, dr, thus, vehemently argued that as far as the two principles viz., duke of westminster principle and ramsay principle .....

Mandhana Exports (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD306(Mum.)

..... 56. respectfully following the same, the issue is decided in favour of the assessee.from the above, it is evident that perhaps the amendment made by the taxation laws (amendment and miscellaneous provisions) act, 1986, and omission of section 34 was not brought to the notice of the learned members of itat (pune bench). therefore, they ..... the assessee, its claim of depreciation under section 32 cannot be allowed.however, the position is altogether different after the omission of section 34 by the taxation laws (amendment & misc. provisions) act, 1986, w. e. f. 1-4-1988. after the omission of section 34, there does not remain any condition of furnishing the information ..... the period 1-4-1988 when section 34 was in existence. as we have already stated, after the omission of section 34 by the taxation laws (amendment and miscellaneous provisions) act, 1986, the position is altogether different and, therefore, the above decisions relied upon by the ld. representative for the assessee would not be .....