Court : Andhra Pradesh
Reported in : [2001]252ITR316(AP)
..... is the same. after extracting the facts and analysing several decisions and also considering the effect of section 17(2)(vi), which was inserted by the taxation laws (amendment) act, 1984, but repealed by the finance act, 1985, it was held that the interest subsidy is not a perquisite and that no legal obligation lies on the employer to deduct tax at source ..... in favour of the assessee and having not been appealed against, has become final. in view of the ratio laid down in the above case, which has support of the law declared by the supreme court in v.m. salgaocar and bros. p. ltd. v. cit : [2000]243itr383(sc) , the reference is answered in favour of the ..... holding that the assessee-company is liable to pay tax on interest subsidy provided to its employees in accordance with the provisions of section 201 of the income-tax act, though the asses-see-company was under honest belief that interest subsidy is not inclu-dible as perquisite ?' 5. the prime question is whether the interest subsidy .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2004SC2345; (2004)188CTR(SC)289; [2004]267ITR1(SC); JT2004(1)SC132; 2004(4)SCALE774; (2004)4SCC597
..... 1972. the statement of objects and reasons shows that the amendment was incorporated to counter evasion of tax through understatement of the value of immovable property in sale deeds ..... under section 269d(2) of the act prior to the publication of the notice in the official gazette in accordance with section 269d(1) of the act would render the entire proceedings illegal and without jurisdiction. chapter xxa comprising sections 269a to 269s was inserted by the taxation laws (amendment) act, 1972 with effect from 15.11. ..... 2)(a) prior to the publication of the notice in the official gazette rendered the whole proceedings illegal and without jurisdiction, is clearly unsustainable in law. the appeal is accordingly allowed and the judgment and order dated 21.7.1999 of the punjab and haryana high court and also the order dated .....
Tag this Judgment!Court : Rajasthan
Reported in : [1988]173ITR74(Raj)
..... case of succession governed by section 188 of the act, since the applicability of section 187 is excluded by virtue of the proviso to sub-section (2 ..... is 1979-80, admittedly, this is a case governed by sections 187 and 188 of the act, as they stand after the insertion of the proviso in sub-section (2) of section 187 retrospectively with effect from april i, 1975, by the taxation laws (amendment) act, 1984. on the facts and in the circumstances of this case, it is clearly a ..... 1. this reference is made under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), at the instance of the revenue to answer the following question of law, namely :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the firm stood dissolved on the death .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1987)67CTR(AP)109; [1987]169ITR647(AP)
..... quashed. 20. before concluding, we must refer to one contention raised by learned standing counsel. he invited our attention to explanation 2 inserted after section 139(8) by the taxation laws (amendment) act, 1984, with effect from april 1, 1985. the explanation reads : 'where, in relation to an assessment year, an assessment is made for the first time under section ..... of the return filed on june 1, 1979, which was beyond the time limit specified in section 139(4)(b)(iii)) of the act. there is no misunderstanding of the correct provision of law as far as the revenue is concerned and we wonder how learned standing counsel for the revenue canvassed before this court a plea that ..... by counsel less familiar with the provisions of the income-tax act, we would have disregarded it and not taken note of it. coming as it does from standing counsel for the revenue with considerable standing at the bar, we are startled at the proposition of law sought to be made out. not only did learned standing .....
Tag this Judgment!Court : Allahabad
Reported in : [1972]85ITR19(All)
..... and it is not for the court, we think, to supply the omission and complete it. it appears that the omission was noticed recently, and in the taxation laws (amendment) act, 1970, section 38 substitutes for the original section 221(1) a new sub-section clearly mentioning the income-tax officer as the authority empowered to impose penalty. section ..... observations were made in that case do not exist before us. the objection is overruled.16. it was then urged that there was no apparent error of law or of jurisdiction and, therefore, a writ in the nature of certiorari should not be granted. upon the finding that the income-tax officer had no power ..... in failing to pay the amount of advance tax demanded. the petitioner applied in revision to the commissioner of income-tax under section 264(1) of the act against the order of the appellate assistant commissioner concerning the first penalty order and also directly against the second and third penalty orders. theadditional commissioner of income-tax .....
Tag this Judgment!Court : Orissa
Reported in : (2009)221CTR(Ori)328; [2009]308ITR133(Orissa); [2009]176TAXMAN293(Orissa)
..... petitioner. the circular dated 03.05.1967 is an outdated one and it has been superseded by various other circulars issued by the board subsequently. the taxation laws (amendment) act, 1975, which came into force with effect from 01.10.1975 brought in a new provision by which powers under section 133a were enlarged and the scope ..... of the books of accounts and documents up to 30.06.2009 for preparation of appraisal report. thus, it is evident, the opposite parties had not acted in accordance with the provisions of law, which is certainly undesirable on the part of the statutory authorities.this hon'ble supreme court in sangeeta singh v. union of india and ors. ..... in his reply dated 23rd june, 2008 (annexure-4) intimated the petitioner that the survey operation under section 133a of the i.t. act was done as per the existing provisions of law. the petitioner was further informed that soon after completion of survey operation, the impugned materials/loose sheet bundles were handed over to sri b. .....
Tag this Judgment!Court : Chennai
Reported in : [2000]245ITR322(Mad)
..... intention to treat him as the principal officer of the company.' the introduction of section 278b into the statute book with effect from october 1, 1975, by the taxation laws (amendment) act, 1975, does not alter or take away the mandatory requirement of issuing notice as contemplated under section 2(35)(b) for an offence under section 276b. while ..... but in both offering the same grounds which are common to both such as: (i) that the lower court misdirected itself on question of law relating to section 278b of the income-tax act, and its application thereof; (ii) that the trial court failed to appreciate the evidence of prosecution that once the deduction of tax deducted ..... of the case as projected by the prosecution and ultimately to weigh the evidence in terms of the requirements of law, has framed five points which are :(i) whether after introduction of section 278b of the income-tax act on october 1, 1975, notice under section 2(35)(b) to the directors of the company is necessary ? .....
Tag this Judgment!Court : Chennai
Reported in : (2003)180CTR(Mad)238
..... officer and it also deals with the other matters which are specified in the other sub sections. sections 144a and 144b were inserted by the parliament by the taxation laws (amendment) act, 1975 on the basis of the recommendations of the wanchoo committee. the said committee has recommended that the higher officer in rank in hierarchy of the officers of ..... further directions given by the tribunal on the basis that the activity is a hobby are also not in accordance with the law.25. the tribunal also referred to section 74a(a) of the income tax act,1961. section 74a(2) refers to computation of income to be made in respect of activity of owning and maintaining race ..... at the instance of the assessee has stated a case and referred the following question under section 256(1) of the income tax act, 1961.'whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the inspecting assistant commissioner had jurisdiction under section 144b of the income tax .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2000]243ITR383(SC); JT2000(4)SC473; 2000(3)SCALE240; (2000)5SCC373; [2000]2SCR1169
..... interest or at a concessional rate. this aspect has been recognised by the statute itself and to bring such items in the net of taxation, the law was amended by the taxation laws (amendment) act, 1984. by this amendment, as already indicated, a new sub-clause (vi) was inserted in section 17(2) and, similarly, another sub-clause (vi ..... certain prescribed purposes either free of interest or at a rate which was lower than the specified rate. however, subsequently, the finance act, 1985, omitted the aforesaid amendments made by the taxation laws (amendment) act, 1984, with effect from the date of its insertion, namely, april 1, 1985, with a view to provide relief to ..... and non-chargeable interest on the debit balance in running account would not amount to providing perquisite. the appellate tribunal also observed that the taxation laws (amendment) act, 1984 for the first time provided that the difference in interest between the prescribed rate and that charged by an employer to the employee .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2006)98ITD165(Ahd.)
..... that even as per the supreme court, the decision was applicable for the period prior to 1-4-1988, i.e., before the law was amended by taxation laws (amendment & miscellaneous provisions) act, 1986. moreover in the above case the dispute was not with regard to the computation of income for the purpose of chapter vi-a ..... been answered differently by various high courts some in favour of the assessee and others in favour of the revenue. section 32 has since been amended by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from april, 1,1988, however, the answer to the question remains of substantial importance as various matters are stated to be ..... decision given by the supreme court was for asstt year 1974-75, when section 34 was on the statute book, which is omitted by the taxation laws (amendment & miscellaneous provisions) act, 1986 with effect from 1-4-1988, as per section 34, the assessee was entitled to depreciation under section 32 only if the prescribed .....
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