2001 PLP 3802 (PTD)
AYYAPPAN TEXTILES LTD. and 2 others Versus COMMISSIONER OF INCOME, TAX
| Citation | 2001 PLP 3802 (PTD) |
| Forum / Court | 241 I T R 545 |
| Bench Members | R. Jayasimha Babu and N. V Balasubramanian, JJ |
| Parties | AYYAPPAN TEXTILES LTD. and 2 others Versus COMMISSIONER OF INCOME, TAX |
Q1: What are the key laws and sections cited in 2001 PLP 3802 (PTD)?
This judgment primarily cites: statutory provisions as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PLP 3802 (PTD)?
The case was heard and decided by the 241 I T R 545 bench comprising: R. Jayasimha Babu and N. V Balasubramanian, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PLP 3802 (PTD) (AYYAPPAN TEXTILES LTD. and 2 others Versus COMMISSIONER OF INCOME, TAX). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Headnotes / Summary
Income‑tax‑‑‑ ‑‑‑‑Depreciation‑‑‑Rate of depreciation‑‑‑Law applicable‑‑‑Law applicable as on date of commencement of assessment year and not law subsequent to that date‑‑‑Income‑tax (Fourth Amendment) Rules, 1983 not applicable for assessment year 1983‑84‑‑‑Indian Income Tax Act, 1961, S.32 ‑‑‑ Indian Income Tax (Fourth Amendment) Rules, 1983. It is well‑settled that the law applicable for assessment is the law applicable as on the commencement of the assessment year and riot the change in the law subsequent to that date: Held, that the amending rule came into force only after the commencement of the assessment year. The Income Tax (Fourth Amendment) Rules, 1983, which came into force on April 2, 1983, was not applicable to the assessment year 1983‑
84. Hence, the assessee was not entitled to depreciation allowance in respect of its assets at the rates prescribed in the Income‑tax (Fourth Amendment) Rules, 1983, for the assessment year 1983‑
84. P.P.S. Janarthana Raja for T.K. Ramkumar for the Assessee. C.V. Rajan for the Commissioner.
Judgment & Decree
Income‑tax‑‑‑ ‑‑‑‑Depreciation‑‑‑Rate of depreciation‑‑‑Law applicable‑‑‑Law applicable as on date of commencement of assessment year and not law subsequent to that date‑‑‑Income‑tax (Fourth Amendment) Rules, 1983 not applicable for assessment year 1983‑84‑‑‑Indian Income Tax Act, 1961, S.32 ‑‑‑ Indian Income Tax (Fourth Amendment) Rules, 1983. It is well‑settled that the law applicable for assessment is the law applicable as on the commencement of the assessment year and riot the change in the law subsequent to that date: Held, that the amending rule came into force only after the commencement of the assessment year. The Income Tax (Fourth Amendment) Rules, 1983, which came into force on April 2, 1983, was not applicable to the assessment year 1983‑
84. Hence, the assessee was not entitled to depreciation allowance in respect of its assets at the rates prescribed in the Income‑tax (Fourth Amendment) Rules, 1983, for the assessment year 1983‑
84. P.P.S. Janarthana Raja for T.K. Ramkumar for the Assessee. C.V. Rajan for the Commissioner. R. JAYASIMHA BABU, J.‑--‑The questions referred to us in these references are capable of being disposed of by a common order and by this common order, the reference are being disposed of. The question referred to us is as to whether the amendment effected to the Income‑tax (Fourth Amendment) Rules, 1983, on April 2, 1983, is applicable to the assessment of the assessee's income for the assessment year 1983‑
84. The assessee claimed that the amendment to the rule was procedural in nature and that claim was negatived by the Tribunal. The amendment effected to the rule which was to the rate at which the depreciation is to be allowed, cannot he regarded as a matter of procedure. It is a substantive right. It is well‑settled that the law applicable for assessment 'is the law applicable as on the date of commencement of the assessment year and not the change in the law amended subsequent to that date. The amending rule came into force only after the commencement of the assessment year and was not applicable to these assessments. The question referred to us is, therefore, answered against the assessees and in favour of the Revenue. The Revenue shall be entitled to costs in the sum of Rs.750 (rupees seven hundred and fifty only) payable in one set. M.B.A./624/FC Reference answered.