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Start Free TrialFinance Act,1990 Chapter III
Title: Direct Taxes
State: Central
Year: 1990
.....turnover" shall not include any sum referred to in clauses (iiia), (iiib) and (iiic) of section 28;'; (iii) in clause (d), for the words "manufacturing goods", the words and brackets "manufacturing (including processing) goods" shall be substituted. Section 23 - Amendment Of Section 80HHD In section 80HHD of the Income-tax Act, with effect from the 1st day of April, 1991, - (a) in sub-section (2), for the words "by the assessee in convertible foreign exchange", the words and brackets "in, or brought into, India by the assessee in convertible foreign exchange within a period of six months from the end of the previous year or, where the Chief Commissioner or Commissioner is satisfied (for reasons to be recorded in writing) that the assessee is, for reasons beyond his control, unable to do so within the said period of six months, within such further period as the Chief Commissioner or Commissioner may allow in this behalf" shall be substituted; (b) for sub-section (3), the following sub-section shall be substituted, namely :- '(3) For the purposes of sub-section (1), profits derived from services provided to foreign tourists shall be the amount which bears to the.....
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 6
Title: Amendment of Section 28
State: Central
Year: 1990
In section 28 of the Income-tax Act, - (a) after clause (iii), the following clause shall be inserted and shall deemed to have been inserted with effect from the 1st day of April, 1962, namely :- "(iiia) profits on sale of a licence granted under the Imports (Control) Order, 1955, made under the Imports and Exports (Control) Act, 1947 (18 of 1947);"; (b) after clause (iiia), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1967, namely :- "(iiib) cash assistance (by whatever name called) received or receivable by any person against exports under any scheme of the Government of India;"; (c) after clause (iiib), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1972, namely :- "(iiic) any duty of customs or excise re-paid or re-payable as drawback to any person against exports under the Customs and Central Excise Duties Drawback Rules, 1971;".
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 22
Title: Amendment of Section 80hhc
State: Central
Year: 1990
.....be substituted with effect from the 1st day of April, 1991; (ii) after the word "assessee", the brackets and words "(other than the supporting manufacturer)" shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1989; (iii) after the words "convertible foreign exchange", the words and brackets, "within a period of six months from the end of the previous year or, where the Chief Commissioner or Commissioner is satisfied (for reasons to be recorded in writing) that the assessee is, for reasons beyond his control, unable to do so within the said period of six months, within such further period as the Chief Commissioner or Commissioner may allow in this behalf" shall be inserted with effect from the 1st day of April, 1991; (b) for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of April, 1991, namely :- '(3) For the purposes of sub-section (1), profits derived from the export of goods or merchandise out of India shall be the amount which bears to the profits of the business (as computed under the head "Profits and gains of business or profession"), the same proportion as the export.....
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 60
Title: Amendment of Section 15
State: Central
Year: 1990
.....and all the provisions of this Act shall apply accordingly : Provided that an assessee, who has furnished a revised return under section 14 after the service upon him of the intimation under sub-section (1) of this section, shall be liable to pay additional gift-tax in relation to the adjustments made under the first proviso to clause (a) of sub-section (1) and specified in the said intimation, whether or not he has made the said adjustments in the revised return."; (b) in sub-section (4), in clause (i), for the words "before the end of the relevant assessment year", the words, brackets and figures "within the time allowed under sub-section (1) of section 13" shall be substituted.
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 3
Title: Amendment of Section 2
State: Central
Year: 1990
.....and shall be deemed to have been inserted with effect from the 1st day of April, 1967, namely :- "(vb) any sum chargeable to income-tax under clause (iiib) of section 28;"; (c) after sub-clause (vb), the following sub-clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1972, namely :- "(vc) any sum chargeable to income-tax under clause (iiic) of section 28;";' (ii) in clause (40), for the word and figures "section 143", the words, brackets and figures "sub-section (3) of section 143" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1989; (iii) clause (42C) [as inserted by clause (ii) of section 2 of the Direct Tax Laws (Second Amendment) Act, 1989 (36 of 1989)] shall be omitted.
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 37
Title: Amendment of Section 143
State: Central
Year: 1990
In section 143 of the Income-tax Act, after sub-section (1A), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1989, namely :- "(1B) Where an assessee furnishes a revised return under sub-section (5) of section 139 after the issue of an intimation, or the grant of refund, if any, under sub-section (1) of this section, the provisions of sub-sections (1) and (1A) of this section shall apply in relation to such revised return and - (i) the intimation already sent for any income-tax, additional income-tax or interest shall be amendment on the basis of the said revised return and where any amount payable by way of income-tax, additional income-tax or interest specified in the said intimation has already been paid by the assessee then, if any such amendment has the effect of - (a) enhancing the amount already paid, the intimation amended under this clause shall be sent to the assessee specifying the excess amount payable by him and such intimation shall be deemed to be a notice of demand issued under section 156 and all the provisions of this Act shall apply accordingly; (b) reducing the amount already.....
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 54
Title: Amendment of Section 16
State: Central
Year: 1990
.....all the provisions of this Act shall apply accordingly : Provided that an assessee, who has furnished a revised return under section 15 after the service upon him of the intimation under sub-section (1) of this section, shall be liable to pay additional wealth-tax in relation to the adjustments made under the first proviso to clause (a) of sub-section (1) and specified in the said intimation, whether or not he has made the said adjustments in the revised return."; (b) in sub-section (4), in clause (i), for the words "before the end of the relevant assessment year", the words, brackets and figures "within the time allowed under sub-section (1) of section 14" shall be substituted.
View Complete Act List Judgments citing this sectionFinance Act,1990 Section 7
Title: Amendment of Section 32a
State: Central
Year: 1990
In section 32A of the Income-tax Act, - (i) in sub-section (4), in clause (ii), in the opening portion, for the words "the previous year in respect of which the deduction is to be allowed", the words, brackets and figure "any previous year in respect of which the deduction is to be allowed under sub-section (3) or any earlier previous year (being a previous year not earlier than the year in which the ship or aircraft was acquired or the machinery or plant was installed or the ship, aircraft, machinery or plant was first put to use)" shall be substituted and shall be deemed to have substituted with effect from the 1st day of April, 1976; (ii) sub-section (9) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of April, 1976.
View Complete Act List Judgments citing this sectionPrasar Bharati (Broadcasting Corporation of India) Act, 1990 Section 7
Title: Removal and Suspension of Chairman and Members
State: Central
Year: 1990
.....until thePresident has passed orders on receipt of the report of the Supreme Court onsuch reference. (3)Notwithstanding anything contained in sub-section (1), the President may, byorder, remove the Chairman or any Whole-time Member form his office if suchChairman or such Whole-time Member- (a) ceases to be a citizen of India ; or (b) is adjudged an insolvent ; or (c) engages during his term of office in any paidemployment outside the duties of his office ; or (d) is convicted of any offence involving moral turpitude ;or (e) is, in the opinion of the President, unfit to continuein office by reason of infirmity of body or mind : Provided that the President may, by order, remove anyPart-time Member from his office if he is adjudged an insolvent or is convictedof any offence involving moral turpitude or where he is, in the opinion of thePresident, unfit to continue in office by reason of infirmity of body or mind (4) If the Chairman or any Whole-time Member, except any exoffico Member, the Nominated Member or any elected Member, is, or becomes in anyway concerned or interested in any contract or agreement made by or on behalf ofthe Corporation or the Government of.....
View Complete Act List Judgments citing this sectionPrasar Bharati (Broadcasting Corporation of India) Act, 1990 Section 15
Title: Jurisdiction Of, and the Procedure to Be Followed By, Broadcasting Council
State: Central
Year: 1990
.....and within such period as may be specified by regulations. (3) The Broadcasting Council shall follow such procedure as it thinks fit for the disposal of complaints received by it. (4) If the complaint is found to be justified either wholly or in part, the Broadcasting Council shall advise the Executive Member to take appropriate action. (5) If the Executive Member is unable to accept the recommendation of the Broadcasting Council, he shall place such recommendation before the Board for its decision thereon. (6) If the Board is also unable to accept the recommendation of the Broadcasting Council, it shall record its reasons therefor and inform the Broadcasting Council accordingly. (7) Notwithstanding anything contained in sub-sections (5) and (6), where the Broadcasting Council deems it appropriate, it may, for reasons to be recorded in writing, require the Corporation to broadcast its recommendations with respect to a complaint in such manner as the Council may deem fit.
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