Judgment Search Results Home > Cases Phrase: taxation laws amendment act 2007 section 9 omission of section 4 Sorted by: old Court: income tax appellate tribunal itat mumbai Page 6 of about 376 results (0.192 seconds)

Assistant Commissioner of Vs. Smt. Shantidevi Saraf

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1994)51ITD83(Mum.)

..... the course of hearing, the statutory changes brought about w.e.f.1 -4-1985 were noted and analysed. in particular, sub-section (2) of section 45 inserted by the taxation laws (amendment) act, 1984, w.e.f.1-4-1985 was taken note of. it was also noted in the course of hearing itself that even in the tribunal's decision dated 15 ..... -1 -1990 which was relied upon by the assessee, an argument had been advanced on behalf of the assessee that there was some amendment made in the relevant provisions of the act vide para 4, towards the end of bottom of para 2 of that order of the tribunal. it was also noted that the cit (appeals) in ..... . 23,370 in the appellate order of the cit (appeals). on pg. 2, the cit (appeals) has rightly analysed the existence of amendment in law up to a point as follows : ... it has to be noted that even under the amended provision, the entire difference between the sale price and the cost price is not to be treated as capital gains. it is .....

Sbi Capital Markets Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)57ITD72(Mum.)

..... proviso to section 221(1), which we have already quoted in the preceding part of this order. that explanation has been inserted with effect from 1-10-1975, by the taxation laws amendment act, 1975. the case of sriram agarwal (supra) to which shri gupta referred dealt with the provisions of section 212(3a) of the income-tax ..... cease to be liable to any penalty under this subsection, merely by reason of the fact that before the levy of such penalty he has paid the tax.7. the amendment to which shri gupta referred is in second proviso to section 221(1). prior to its substitution with effect from 10-9-1986, the second proviso stood as under: provided ..... ). he explained that assessee's default was under the provisions of section 221, read with section 201(1), of the income-tax act. he pointed out that while the provisions of section 221 had been amended, there was no amendment in the provisions of section 201 and hence the assessee who was only deemed to have committed a default and had not in .....

Trustees of Parsi Panchayat Funds Vs. Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)57ITD328(Mum.)

..... bill, 1984 by which the explanation to section 263 was introduced covering the orders framed as per the directions received under section 144a of the act. this is reproduced below for the sake of facility : sub-clause (a) ..... act as assessing officer singly or shall have concurrent jurisdiction. the order of assessment passed by assessing officer or assessing officer under directions of inspecting assistant commissioner (iac) or by iac all are performing the functions of an assessing officer. this is clearly brought out in the notes on clauses to the taxation laws amendment ..... be accepted as declaring the express intention of the legislation. .the departmental representative contended that the amendment including the revision of an order of assessment framed on the directions under section 144a of the act has to be construed in its true perspective and should not be broken up as suggested by .....

Nathani Steels Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1996)57ITD584(Mum.)

..... the installation of plant and machineries itself shows that the building was used for the purpose of business, (iv) that after the amendment w.e.f. 1-4-1988 by the taxation laws (amendment and miscellaneous provisions) act, 1986, in section 32 by introducing the concept of block of assets, the condition of user is not necessary for claiming the depreciation ..... the keeping of records of depreciation already availed of by each asset eligible for depreciation. in order to simplify the existing cumbersome provisions, the amending act has introduced a system 'of allowing depreciation on block of assets. this will mean the calculation of lump sum amount of depreciation for the entire ..... high court reported as khimji visram & sons (gujarat) (p.) ltd v. cit [1995] 79 taxman 112. regarding the last contention his submission is that after the amendment w.e.f. 1 -4-1988, a new concept has been introduced.according to him, the depreciation is to be allowed on plant and machineries forming part of block .....

Assistant Commissioner of Income Vs. Meghraj GolechA. (Meghraj

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)60ITD448(Mum.)

..... in the instant case, a person who was found in possession of undisclosed income and assets at the time of two searches, a person who had offered for taxation income to the tune of more than rs. 27 lacs on settlement basis before the cit and, yet defied the notices issued under ss. 148 and 139(2 ..... barred by time. he, however, pointed out that in the commentary of chaturvedi & pithisaria on which the learned departmental representative relied, it was mentioned that these amendments were retrospective and apply to earlier years unless those proceedings were already barred by time. he submitted that since in the instant cases the set aside proceedings had got ..... justified because he had ignored the basic changes brought about in the it act in s. 147 w.e.f. 1st april, 1989. according to the learned departmental representative all the cases cited by the learned counsel for the assessee dealt with law as it prevailed before the amended provisions came into effect from 1st april, 1989. dealing with .....

Super Leasing Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... actually received that should form the basis for determining the annual value. in this context, he has also argued that w.e.f. 1st april, 1976, the section has been amended by taxation laws (amendment) act, 1975, and under the provisions of s. 23(1)(d) [sic 23(1)(a)], the annual rent received or receivable forms the basis for determining the annual value. in ..... of east india housing & land development trust ltd. vs. cit (1961) 42 itr 49 (sc) and rejected the claim of the assessee. he also observed that the various case law relied upon by the assessee before him did not support the assessee's contention because in all these cases the various assessees had taken the properties on lease and thereafter ..... ao under r. 46a of the it rules. 3. on the facts and in the circumstances of the case and in law, the learned cit(a) failed to appreciate that as per the provisions of s. 23 of the it act the alv is deemed to be the sum for which the property might reasonably be expected to let from year to year .....

Deputy Commissioner of Vs. Lee and Muirhead Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)60ITD57(Mum.)

..... nature specified in that section. both the provisions of section 23a and of section 56a were introduced later on when the provisions of the act were from time to time amended. section 23a is contained in chapter iv which deals with deductions and assessment, while section 56a is contained in chapter ix which deals with ..... they further held that where the doctrine exposes the overriding public interest to a jeopardy, the doctrine was to yield. the doctrine in its application to taxation matters must be weighted against its impact on public interest. the calcutta high court quoted the judgment of the hon'ble supreme court at page 362 at ..... retrospectively, penalty cannot be levied. even if the donee institution received back the donation, the assessee cannot be denied deduction under section 35cca. the assessee relied upon the following case law in support of its submissions : 1. pressman advertising & marketing (p.) ltd. v. cit [1994] 208 itr 768 (cal.) 3. seksaria biswan sugar factory ltd. .....

Fluid Air (India) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)63ITD182(Mum.)

..... 36, and where such payment has been made otherwise than in cash, the sum has been realised within fifteen days from the due date." the notable omission in the amended proviso is the expression "during the previous year". because of the omission of the expression "during the previous year" in the second proviso to section 43b, we ..... might modify the language used by the legislature so as to achieve the intention of the legislature and produce a rational result. by the court : though equity and taxation are often strangers, attempts should be made that these do not remain always so and if a construction results in equity rather than in injustice, then such construction should ..... same time, the liabilities were disputed and they did not discharge the liabilities. section 43b of the act was inserted to provide that deduction for any sum payable by the assessee by way of tax or duty under any law or any sum payable by the assessee as employer by way of contribution to any provident fund or .....

international Computers India Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1997)63ITD195(Mum.)

..... facts as noted by it and the conclusions thereof are reproduced for the sake of facility, in that sequence : "whether the tribunal was in law justified in holding that the amendment order made by the ito was not sustainable to the extent to which it purported to withdraw development rebate admissible to the assessee in respect of ..... go to a person who does not exploit the machinery himself for manufacturing or producing any article. such a situation is not entirely unknown in the field of taxation. if the object behind section 32a is understood as to encourage industrial activities and investment in capital goods to facilitate industrial developments, the provision would certainly bear ..... such cannot be a partner in another firm though its partners may be partners in the other firm in their individual capacity. either under the repealed act or the act a firm is liable to be separately assessed to tax as well as all its partners in their capacity as individuals if they have taxable income, the .....

Nirmal Udyog Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)65ITD73(Mum.)

..... any, was not available to the assessee as search took place on 22nd august, 1986, and the said provisions were operative from 10th september, 1986, by taxation laws (amendment miscellaneous provisions) act, 1986. regarding the citations relied upon by the appellant at the time of hearing before me, the facts are distinguishable. on the contrary, there is a ..... was not available to the assessee as search took place on 22nd august, 1986, and the said provisions were operative from 10th september, 1986, by taxation laws (amendment miscellaneous provisions) act, 1986. thereafter she held that the assessee's case is covered against them by the decision of the nagpur bench of the tribunal in the case of ..... in the instant case, the ao has failed to establish the same, no penalty could be imposed under s. 271(1)(c) of the act. (ii) the offer for taxation of the additional income cannot be considered to be the concealment of income in the contest of the facts and circumstances obtaining in the case. ( .....