Judgment Search Results Home > Cases Phrase: the payment of bonus amendment act 2007 Court: income tax appellate tribunal itat delhi Page 1 of about 78 results (0.176 seconds)

Deputy Commissioner of Vs. Kicha Sugar Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the central board of direct taxes circular is found extracted at page 2322, sampath iyengar's law of income tax, ninth edition, which is as follows : " section 29 of the payment of bonus (amendment) act, 1976, has inserted a new proviso to clause (ii) of sub-section (1) of section 36 of the income-tax act, 1961, and has made an amendment to the existing proviso to the said clause with !effect from 25th september, 1975. ..... section 29 of the payment of bonus (amendment) act, 1976, has inserted a new proviso to section 36(l)(ii), income-tax act. ..... after the amendment introduced from september 25, 1975, the new proviso termed as first proviso and the amended second proviso read as under ; " provided that the deduction in respect of bonus paid to an employee employed in a factory or other establishment to which the provisions of the payment of bonus act, 1965 (21 of 1965), apply shall not exceed the amount of bonus payable under that act. ..... next, he referred to section 10 of the payment of bonus act as amended by act 66 of 1980 which came into effect from august 21, 1980. ..... then he took us through the provisions of the payment of bonus act as amended in 1977. .....

Deputy Commissioner of Income Tax Vs. Eicher Goodearth. (Eicher

Court : Income Tax Appellate Tribunal ITAT Delhi

..... 209 of the companies act, 1956 by the companies (amendment) act, 1988, the company has changed its method of accounting for the fluctuation in foreign-currency rates in respect of a foreign currency loan taken by the company in a previous year from the payment basis hitherto consistently followed to the accrual method of accounting. ..... 209(3) of the companies act, which was substituted by the companies (amendment) act, 1988 w.e.f. ..... 209 of the companies act by the companies (amendment) act, 1988, w.e.f. ..... 209(3) inserted by the companies (amendment) act, 1988, w.e.f. ..... 197 to 199, the special bench has held as under : "can the ao recast the book profit the contention of the revenue was that if the book profit shown by the assessee is not in accordance with the provisions of the companies act or if it had been manipulated to show less than the amount which was required to be shown in the p&l a/c, ao had required to be shown in the p&l a/c. ..... it provides that the p&l a/c should disclose turnover, commission, brokerage & discount, raw, material, consumed, goods purchased, opening and closing stock, depreciation, interest paid, provision for income-tax, reserves and provisions, expenditure on account of consumption of stores and spare parts, power and fuel, rent repairs to buildings and machinery, salary, wages, bonus, contribution to p.f. .....

Whirlpool India Holdings Ltd. Vs. Deputy Director of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)1SOT165(Delhi)

..... section 4 of the indian income tax amendment act, 1959 saved the validity of the notice.we have seen the paras of the judgment at page 106 on which the attention of the bench was drawn by the learned counsel for the department and found that these observations of the honble supreme court was applicable prior to amendment of section 143(2). ..... ito (1964) 53 itr 100 (sc), the supreme court strained and wide meaning to the word issue in order to save the income tax (amendment) act, 1959 from being rendered nugatory. ..... while holding so, the honble supreme court has discussed the amended provisions and observed that the amended provisions were applicable only after the date when they were amended therefore the ratio of the decision in the case of r.k upadhyaya (supra) is squarely applicable on the facts of the present case by which the controversy in regard to issue of notice and service of notice have been resolved. ..... it has been observed by honble supreme court in this case that it must be assumed that unless the cheque was collected personally by the payer it would be sent by post thereby constituting the post office as the agent of the payer for the purpose of receiving the payment. ..... raja ramalingams case (supra) were distinguished as those cases deals with regarding the payment made by cheque. .....

Sitaram Arvind Kumar Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1986)19ITD780(Delhi)

..... be repayable in five equal annual instalments commencing from the expiry of two years from the end of that financial year, together with the interest due on the whole or as the case may be, part of the amount of the compulsory deposit which has remained upaid.to the above sub-section (1)a proviso was added by the compulsory deposit scheme (income-tax payers) (amendment) act, 1985 to the following effect : provided that no depositor shall be entitled to withdraw before the expiry of the financial year 1985-86 any amount which, in accordance ..... which is repaid to him by the government in five equal annual instalments commencing from the expiry of two years from the end of that financial year together with the interest due on the whole or part of the amount of compulsory deposit which has remained unpaid.what, therefore, happens when compulsory deposit is repaid is the refund of the depositor's own money with accumulated interest.repayment of ones own money by the debtor cannot be regarded as payment of annuity by the debtor to the creditor, even if the repayment of the principal sum in five .....

Hem Raj Vijay Kumar and Co. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2001)78ITD304(Delhi)

..... . cit has referred to only clauses (a) and (d) of section 3{i) and, therefore, we will confine ourselves to these provisions, which, prior to amendment by the direct tax laws (amendment) act, 1987, with effect from 1-4-1989, stood as under :-- "3 ..... .--(1) for the purposes of this act, 'previous year' means- (d) in the case of a business or profession newly set up in the said financial year, the period beginning with the date of the setting up of the business or profession and- (ii) if the accounts of the asscssce have been made up to a date within the said financial year, then, at the option of the assessee, ending on that date, or (iii) ending with the period, if any, determined under clause (c), as the case may be; or" as would be seen from the above provisions, the general rule, as per clause (a), in the absence of special provisions ..... . counsel submitted that as the assessing officer had allowed deduction for the payment of interest to members of aop on the strength of a decision of the m.p ..... . 1-4-1989, there was no prohibition for deduction of interest, salary, bonus etc.paid to a member by an aop or body of individuals .....

Asian Hotels Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)81ITD127(Delhi)

..... further, according to the learned jm, the intention of the legislature could be inferred from other circumstances and that being that explanation added to the section required a certificate to be filed by the hotels and the same having been obtained from the person, who made the payments to the hotels in indian currency and such certificate had been specified in sub-section (2a) which was also added to sub-section (2) to section 80hhd by the same amending act. ..... 4,03,09,863 for services rendered to the foreign tourists.with regard to the provisions of sub-section (2a) inserted by the said finance act, i am of the view that this is only a machinery provision for allowing the correct amount of deduction under the above section.in this particular case, there is no doubt about the genuineness of the services and the payments received by the assessee. ..... a clarificatory amendment of this nature will have retrospective effect and, therefore, if the principal act was existing law when the constitution came into force, the amending act also will be part of the existing law. ..... a clarificatory amendment of this nature will have retrospective effect and therefore, if the principal act was existing law when the constitution came into force the amending act also will be part of the existing law. .....

income-tax Officer Vs. Annu Knitting Mills (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1987)23ITD1(Delhi)

..... that section 80 itself has been amended with effect from 1-4-1985 by the taxation laws (amendment) act, 1984. ..... return filed within the extended period was a good return in the sense that the income-tax officer was bound to consider it; but that section 139 did not declare anywhere that where a return was filed within the extended period, it would be deemed to have been filed within the period originally prescribed by the statute; that on the contrary section 139 contained a provision for payment of interest where a return was filed beyond the prescribed date even ..... thus, with due regards to the hon'ble supreme court, we are of the view that the assessee's present case under the present income-tax act does not get any assistance from the ratio in the said case which was decided under the old act and without anticipating the provision of sub-section (3) of ..... (supra) that reading sections 22(2a) and 22(3) of the old act of 1922 (in pari materia with sections 139(3) and 139(4) of the new act) a return must be considered as having been made within the time prescribed even if it is a loss return if it is filed in terms of section 22(3) and the loss determined on assessment on the basis of such a return had to be carried ..... the contrary, the section contains a provision for payment of interest where the return is filed beyond the prescribed date even though within the ..... on the contrary, the section contains a provision for payment of interest where the return is filed beyond the prescribed .....

State Trading Corpn. of India Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)36ITD497(Delhi)

..... shri srivastava then referred to the amendment introduced in the said explanation by the finance act, 1989 with effect from 1-6-1988.regarding this amendment also the contention advanced on behalf of the assessee was that it would operate only with effect from 1-6-1988 and, therefore, it would not apply to a case where an order was passed by the commissioner before the insertion of the amendment and in support of the contention that the explanation was not retrospective in operation. ..... regarding the expenditure incurred on payments made to sheikh ghalib mansu rifac, the commissioner set aside the matter to the assessing officer only on the ground that on the other two issues the proceedings are over being restored to him. ..... 10,58,114 on account of sponsorship fee to sheikh ghalib mansu rifac of jeddah.it was noted that this payment was made for securing the right to carry on business in south arabia and that it secured benefit of enduring nature and, therefore, the expenditure was capital expenditure and not a revenue expenditure. ..... the commissioner has not recorded a finding that the order of the assessing officer allowing deduction in respect of the expenditure incurred on payment of sponsorship fee is erroneous and prejudicial to the interest of revenue. ..... 10,58,114 being payment of sponsorship fee to sheikh galib mansu rifac. ..... 29,65,975 included payment of rs. .....

Haryana Wareshousing Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2000)75ITD155(Delhi)

..... 209 of the act, after amendment by the amending act, 1987, lays down the method of computing advance tax payable during a financial year as follows : (a) where the calculation is made by the assessee for paying the advance tax, either of his own accord or on the basis of the estimate of his current income after the assessee is served with a notice by the ao under s. ..... the provisions relating to advance payment of tax have undergone certain significant changes on account of amendments made by the direct tax laws (amendment) act, 1987. ..... 234b no such provision has been made and from clauses attached to the direct tax laws (amendment) act, 1987, it is very clear that provisions are mandatory. ..... 234b to the statute through direct tax laws (amendment) act, 1987. ..... 234a, 234b and 234c have been brought on statute by the direct tax laws (amendment) act, 1987, w.e.f. ..... 234b(1) inserted by the direct tax laws (amendment) act, 1987, w.e.f. ..... 234a, 234b and 234c of the act and when cbdt came to know the plight of assessees who were having bona fide explanations for not complying with the provisions in filing the return making payment of advance tax, etc. ..... there is no need to file any statement/estimate of advance tax payable, as was required before amendment by the act of 1987. ..... 10(29) of the act and assessee was justified in having a bona fide belief that such an income was not subject to income-tax and question of payment of any advance tax did not arise. .....

Motorola Inc., Erisson Radio Vs. Deputy C.i.T.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)96TTJ(Delhi)1

..... view to simplify the aforesaid provisions and also to remove the discretion of the assessing authorities, which had led to litigation and consequent delay in realization of dues, the amending act, 1987, has substituted the above provisions by a simple scheme of payment of mandatory interest for ..... them and also to remover the discretion given to the assessing authority which had led to litigation and consequent delay in realization of the dues, the amendment act substituted the old provisions by a simple scheme of payment of! ..... the scheme of levy of interest is thus to be analysed on the anvil of the provisions referred to hereinabove, it shows that the interest contemplated under sections 234a, 234b and 234c is mandatory in nature and the power of waiver or reduction having not been expressly conferred on the commission, the same indicates that so far as the payment of statutory interest is concerned, the same is outside the purview of the settlement contemplated in chapter xix-a of the act ..... of any person section 139(2): (omitted by direct taxwhose total income is, in the income-tax laws (amendment) act, 1987, w.e.f.officer's opinion, of such an amount as 1.4.1989.to render such person liable to income-section 22(2a): xxxxxxxxxxx xxxxxxxxxxsection 22(3): if any person has not section 139(4): any person who has notfurnished a return within the time furnished a return within the time allowedallowed by or under sub-section (1) to him under sub-section (1), or within theor sub-section .....