Court : Kerala
Reported in : [2000]245ITR37(Ker)
..... (6) thereof provides that the assessing officer shall make the valuation in conformity with the estimate of the valuation officer. the said provision was introduced by the taxation laws (amendment) act, 1972, with effect from january 1, 1973. sub-section (3a) of section 23 and the proviso to sub-section (5) of section 24 dealing with ..... law. no doubt, nothing prevents such officer from appearing at the hearing of the appeal or the first appellate authority calling upon him for hearing (see cwt v. shrenik kasturbhai (huf) : [1987]165itr661(sc) ). there is no fetter on the assessing officer/income-tax officer appearing, if so required, before the first appellate authority. by the amendment act ..... dispute to arbitration of valuers, one of whom is nominated by the appellant and the other by the respondent. the section was omitted by the amending' act of 1972 with effect from january 1, 1973. the appellate tribunal has no power to refer the question for arbitration. a new section 287a has been .....
Tag this Judgment!Court : Kerala
Reported in : [1998]233ITR383(Ker)
..... of income-tax (appeals). the second appeal filed before the tribunal was allowed. the tribunal took the view that explanation 2 added to section 40(b) by the taxation laws (amendment) act, 1984, with effect from april 1, 1985, recognising payment of interest to a person in dual capacity, is clarificatory in nature and retrospective in operation. the tribunal ..... . following is the question referred for the opinion of this court :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in upholding the claim of the assessee firm for deduction of interest paid to smt. elsy thomas ?'2. the assessee is a partnership firm. while computing the ..... 40, is declaratory in nature. therefore, even for periods anterior to april 1, 1985, with effect from which date explanation 2 to section 40(b) of the act was inserted, any interest paid to a partner, who is a partner representing his hindu undivided family, on the deposit of his personal/individual funds, does not fall .....
Tag this Judgment!Court : Kerala
Reported in : (1997)140CTR(Ker)20; [1998]229ITR186(Ker)
..... partner. hence, there is a lack of identity in the two status of the recipient.'7. the said authority also has drawn strength, not (?) particularly according to law, from the taxation laws (amendment) act, 1984, with effect from april 1, 1985, adding an explanation to section 40(b) supporting the situation in the context by reason thereof.8. the decision ..... of the hindu undivided family with 12 per cent, interest per annum is not in dispute.4. the income-tax officer referred to the general provision of law relating to the position of the partners of the firm. the officer held that it is not a question for consideration as to whether any of these partners ..... allahabad high court in cit v. nitro phosphetic fertiliser : [1988]174itr269(all) , to find out the object of the provision under section 40(b) of the act. relying on the observations of the allahabad high court to the effect that the provision is to prevent partners siphoning off substantialprofits in the guise of salary, interest, bonus .....
Tag this Judgment!Court : Kerala
Reported in : (2004)186CTR(Ker)343; [2004]269ITR322(Ker)
..... make two separate assessments for the aforementioned two periods. the supreme court after referring to sections 187 and 188 of the act and after noting that the proviso to section 187 was inserted by taxation laws (amendment) act, 1984, with retrospective effect from 1st april, 1975, observed that the assessee's case is not affected by the proviso ..... since the partner died on 12th jan., 1974. the supreme. court observed that section 42 of the indian partnership act, 1932, clause (c) thereof is ..... there is nothing in the language of section 187, 188 or 189, according to the high court, which precludes the application of the partnership law principles even under the it act. it was accordingly held by the high court that where the partnership deed of a firm did not contain any provision that the death of .....
Tag this Judgment!Court : Kerala
Reported in : [1989]180ITR37(Ker)
..... act, 1985. as per section 80v of the income-tax act, in computing the total income of an assessee, there shallbe allowed by way of deduction any interest ..... delay in payment of income-tax can never be a permissible deduction under section 37(1) of the income-tax act.5. we are concerned with the assessment year 1978-79. counsel for the assessee laid stress on section 80v of the income-tax act which was inserted by the taxation laws (amendment) act, 1975, and which was in force till the passing of the finance .....
Tag this Judgment!Court : Kerala
Reported in : [1999]236ITR562(Ker)
..... only such of those gold ornaments which belong to the person in possession. it is for that reason the legislature has inserted sub-section (4a) by the taxation laws (amendment) act, 1975, with effect from october 1, 1975, by which it is presumed that the gold ornaments or other valuable articles or things found in the possession and ..... a sale is for the benefit of both the parties. the court also observed that there was no difference between the common law of england and the codified law found in sections 172 - 176 of the contract act.20. a division bench of the gujarat high court in cit v. avkash nidhi : [1986]160itr729(guj) had occasion ..... manner whatsoever. the allegations are vague and baseless. the issuance of warrant and the proceedings pursuant to the warrant of authorisation are legal and in accordance with law,'7. learned counsel appearing for the petitioner submitted that the seizure of the articles admittedly belonging to various customers, who had pledged the same with the .....
Tag this Judgment!Court : Kerala
Reported in : (2003)183CTR(Ker)182; [2003]261ITR721(Ker)
..... when the assessee had not made a claim. in para. 4 of the order of the tribunal it was noticed that after the amendment of section 34(1) by the taxation laws (amendment and miscellaneous provisions) act, 1986, with effect from april 1, 1986, it was not necessary for the assessee to furnish the prescribed particulars for claiming depreciation ..... would have ended there. but according to sri p. k. r. menon, learned standing counsel appearing for the revenue, the explanation inserted by the amendment to section 32 by the finance act, 2001, with effect from april 1, 2002, would take us back to the position that whether or not the assessee claimed the deduction in respect ..... which amended section 25(2) of the wealth-tax act to the effect that 'record shall include and shall be deemed always to have included all records relating to any proceeding under this act available at the time of examination by the commissioner' has been noticed. it can be seen that the word 'record' by fiction of law is .....
Tag this Judgment!Court : Kerala
Reported in : [1994]210ITR299(Ker)
..... presumed to have used that expression with an altogether different intention qua charity, as otherwise there was no need to bring about an amendment incorporating the word 'philanthropy' in section 10(22a) of the income-tax act. in fact, in in re macduff: macduff v. macduff [1896] 2 ch 451, the argument of the attorney-general ..... involved in the activities of the assessee-company ? 2. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the observations of the lower authorities that since the institution is running on commercial lines it is not entitled to exemption under section 10(22a ..... the judgment of stirling j., in re macduff. [1896] 2 ch 451.23. shorter oxford english dictionary, 3rd edition, 'philanthropic' :'characterized by philanthropy ; benevolent, humane.'24. law lexicon cum digest, vol. iii, by n.m. mulchandani, 'philanthropic purpose' ;'it is not always necessary that a 'philanthropic use' must be such as may be beneficial .....
Tag this Judgment!Court : Kerala
Reported in : (1981)21CTR(Ker)334; [1982]136ITR733(Ker)
..... was in force at the time when the penalty proceedings were initiated and it remained unaffected by the subsequent change introduced in that law by the amending act of 1970. endorsing the same view, mittal j., speaking on behalf of the division bench of the punjab high court in cit v. raman industries, , observed that ..... penalty for concealment of income is the law that was in force on the date on which the return in which concealment is said to have taken place was furnished before the ito and that the amendments made by the t.l. (amend.) act, 1970, empowering the ito to levy ..... they stood prior to the amendment introduced therein by the t.l. (amend.) act, 1970. accordingly, the aac held that the only competent authority who could levy a penalty in the case was the iac. the department carried the matter in appeal before the tribunal. the tribunal confirmed the order of the aac holding that the law governing the imposition of .....
Tag this Judgment!Court : Kerala
Reported in : 2007(2)KLJ817
..... to achieve the aforesaid object and to ensure payment of contribution the kerala motor transport workers welfare fund act and the scheme thereunder and the kerala motor vehicles taxation act were amended.7. the kerala motor vehicles taxation act, 1976 was enacted by the government to consolidate and amend the laws relating to the levy of tax on motor vehicles and on passengers and goods carried by such ..... vehicles in the state of kerala. the kerala motor vehicles taxation act, 1976, in short the taxation act, falls under entry 57 list ii .....
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