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Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Preamble 1

Title: Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998]

State: Central

Year: 1958

*THE GIFT-TAX ACT, 1958 [Act, No. 18 of 1958] [15th May, 1958] PREAMBLE An Act to provide for the levy of gift-tax BE it enacted by Parliament in the Ninth Year of the Republic of India as follows:-- _____________________ *. This Act cease to apply and have no effect on or after the 01.10.1998 by Finance (No. 2) Act, 1998

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Chapter VIII

Title: Miscellaneous

State: Central

Year: 1958

.....charged as an offence in that prosecution. Explanation.-In this sub-section, "culpable mental state" includes intention, motive or knowledge of a fact, or belief in, or reason to believe, a fact. (2) For the purposes of this section, a fact is said to be proved only when the court believes it to exist beyond reasonable doubt and not merely when its existence is established by a preponderance of probability.] _________________________ 1. Inserted by Act 46 of 1986, section 41 w.e.f. 10-9-1986. Section 35E - Proof of entries in records or documents 1[35E. Proof of entries in records or documents Entries in the records or other documents in the custody of a gift-tax authority shall be admitted in evidence in any proceedings for the prosecution of any person for an offence under this Act, and all such entries may be proved either by the production of the records or other documents in the custody of the gift-tax authority containing such entries, or by the production of a copy of the entries certified by the gift-tax authority having custody of the records or other documents under its signature and stating that it is a true copy of the original entries and that such.....

Mumbai Metropolitan Region Specified Commodities Markets (Regulation of Location) (Enactment of Byelaws with Retrospective Effect to Provide for Levy and Collection of the Registration Fee and Market Complete Act

State: Central

Year: 1997

....."Market Committee" means the Bombay Metropolitan Region Iron and Steel Market Committee, Kalamboli, Navi Mumbai, constituted under section 4 of the Act. SECTION 03: REGISTRATION FEE (1) An application for Registration with the Market Committee, shall be made by the traders lawfully engaged in the specified trade within the market area, to the Chief Executive Officer of the Market Committee. (2) A registration fee of rupees 100 till the 31st December 1990, and thereafter of rupees 200, per application, shall be charged for such registration. SECTION 04: LEVY AND COLLECTION OF MARKET FEE (1) There shall be levied and collected, from every person carrying on specified trade in iron and steel and holding any premises whether as a lessee or otherwise in the market yard, on the basis of the area of the plot, shop, office premises, godown or open space, a fee at the rate specified in the Table below, per annum, for the common services, amenities, and facilities provided by the Market Committee. TABLE 1 Serial No. Area Market Fee Per Square Meter 1. Upto 5,000 Square Meters Rupees 9.00 2. 5,001 To 1,00,000 Square Meters Rupees 7.50 3. Above 1,00,001 Square Meters Rupees 6.00 (2).....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Chapter IV

Title: Assessment

State: Central

Year: 1958

.....for the assessment year commencing on the 1st day of April, 1989, and subsequent assessment years.] ____________________________ 1. Inserted by Act 4 of 1988, sec. 169 w.e.f. 1-4-1989. 2. Inserted by Act 36 of 1989, sec. 31 w.e.f. 1-4-1989. Section 15 - Assessment 1 [15. Assessment (1) (a) Where a return has been made under section 13 or section 14 or in response to a notice under clause (i) of sub-section (4),-- (i) if any tax or interest is found due on the basis of such return after adjustment of any amount paid by way of tax or interest, an intimation shall be sent to the assessee specifying the sum so payable and such intimation shall be deemed to be a notice issued under section 31 and all the provisions of this Act shall apply accordingly; and (ii) if any refund is due on the basis of such return, it shall be granted to the assessee; Provided that in computing the tax or interest payable by, or refundable to the assessee, the following adjustments shall be made in the taxable gifts declared in the return, namely:-- (i) any arithmetical errors in the return, accounts or documents accompanying it shall be rectified ; (ii) any exemption or deduction,.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Chapter VI

Title: Appeals, Revisions and References

State: Central

Year: 1958

.....3 of 1989, sec. 88(i) w.e.f. 1-4-1989. 7. Substituted by Act 53 of 1962, sec. 17 (i)(b)(1), for "Sub-section (1) of section 46 of the Income-tax Act" w.e.f. 1-4-1963. 8 . Inserted by Act 53 of 1962, sec. 17(i) (b)(2) w.e.f. 1-4-1963. 10. Clauses (g) and (h) Inserted by Act 53 of 1962, sec. 17(i) (c) w.e.f. 1-4-1963. 9 . Clause (h) omitted by Act 4 of 1988, sec. 176 (a)(ii) w.e.f. 1-4-1989. 10. Sub-sections (1A), (1B) and (1C) by Act 29 of 1977, sec. 39 and Sch. V, Pt. III w.e.f. 10-7-1978. 11. Clause (b), (c) and (d) Substituted by Act 4 of 1988, sec. 176(b) w.e.f. 1-4-1989. 12. Clause (c) Substituted by Act 3 of 1989, sec. 88 (ii) w.e.f. 1-4-1989. 13. Substituted by Act 4 of 1988, sec. 176 (c), for sub-sections (1B) and (1C) w.e.f. 1-4-1989. 14. Inserted by Act 29 of 1977, sec. 39 and Sch V, Pt. III w.e.f. 10-7-1978. 15 . Substituted by Act 4 of 1986 sec. 161, for, "Appellate Assistant Commissioner" w.e.f. 1-4-1988. 16 . Inserted by Act 29 of 1977, sec. 39 and Sch. V, Pt iv. w.e.f. 10-7-1978. 17 . Inserted by Act 53 of 1962, sec. 17(ii) w.e.f. 1-4-1963. 18 . Substituted by Act 4 of 1988, sec. 161, for "Commissioner" w.e.f. 1-4-1988. 19 . Section 22A.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 46

Title: Power to Make Rules

State: Central

Year: 1958

.....rules conferred by this section shall include the power to give retrospective effect, from a date not earlier than the date of commencement of this Act, to the rules or any of them and, unless the contrary is permitted (whether expressly or by necessary implication), no retrospective effect shall be given to any rule so as to prejudicially affect the interests of assessees.] 7[(4) The Central Government shall cause every rule made under this Act to be laid as soon as may be after it is made before each House of Parliament while it is in session for a total period of thirty days which may be comprised in one session8[or in two or more successive sessions], and, if, before the expiry of the session9[immediately following the session or the successive sessions aforesaid], both Houses agree in making any modifications in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejdice to the validity of anything previously done under that rule.] ___________________________ 1. Inserted by Act 16 of.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 34

Title: Rectification of Mistakes

State: Central

Year: 1958

.....assessee of its intention so to do and has allowed the assessee a reasonable opportunity of being heard. (4) Where an amendment is made under this section, an order shall be passed in writing by the gift-tax authority concerned. (5) Subject to the provisions of sub-section (2) of8[section 33A], where any such amendment has the effect of reducing the assessment, the2[Assessing Officer] shall make any refund which may be due to such assessee. (6) Where any such amendment has the effect of enhancing the assessment or reducing are fund already made, the2[Assessing Officer] shall serve on the assessee a notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall be deemed to be issued under section 31 and the provisions of this Act shall apply accordingly. (7) No amendment under this section shall be made after the expiry of four years9[from the end of the financial year in which the order sought to be amended was passed].] __________________________ 1. Substituted by Act 53 of 1962, sec. 26 w.e.f. 1-4-1963. 2. Substituted by Act 4 of 1988, sec. 161, for "Gift-tax Officer" w.e.f. 1-4-1988. 3. Inserted by Act 4 of 1988, sec. 181.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 16A

Title: Time-limit for Completion of Assessment and Reassessment

State: Central

Year: 1958

.....contained in sub-sections (1) and (2), an order of fresh assessment in pursuance of an order passed on or after the 1st day of April, 1975, under section 22, section 23 or section 24, setting aside or cancelling an assessment, may be made at any time before the expiry of5[two years] from the end of the financial year in which the order under section 22 or section 23 is received by the6[Chief Commissioner or Commissioner] or, as the case may be, the order under section 24 is passed by the Commissioner: 7[Provided that where the order setting aside or cancelling the assessment was passed during the financial year commencing on the 1st day of April, 1985 or the 1st day of April, 1986, the order of fresh assessment may be made on or before the 31st day of March, 1990.] (4) The provisions of sub-sections (1) and (2) shall not apply to the assessment or reassessment made on the assessee in consequence of, or to give effect to, any finding or direction contained in an order under section 22, section 23, section 24, section 26, or section 28 or in an order of any court in a proceeding otherwise than by way of appeal or reference under this Act and such assessment or reassessment.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 28B

Title: Definition of High Court

State: Central

Year: 1958

.....and Delhi High Court (Adaptation of Laws on Union Subjects) Order, 1968, clause 3 and Sch, for clause (ii) w.r.e.f. 1-11-1966. 2. Clause (iia) omitted by the State of Himachal Pradesh (Adaptation of Laws on Union Subjects) Order, 1973, clause 3 and Sch. w.r.e.f. 25-1-1971. 3. Substituted by the North-Eastern Areas (Reorganisation) (Adaptation of Laws on Union Subjects) Order, 1974, clause 3 and Sch. w.r.e.f. 21-1-1972. 4. Union territories of Arunachal Pradesh and Mizoram have attained statehood, with effect from 20-2-1987. 5. Substituted by the Laccadive, Minicoy and Amindivi Islands (Alteration of Name) Adaptation of Laws Order, 1974, clause 3 and Sch., for "the Laccadive, Minicoy and Amindivi. Islands" w.r.e.f. 1-11-1973. 6. Inserted by the Punjab Reorganisation and Delhi High Court (Adaptation of Laws on Union Subject) Order, 1968, clause 3 and Sch. w.r.e.f. 1-11-1966. 7. Inserted by the Taxation Laws (Extension to Union Territories) Regutation 1963, clause 3 and Sch. w.e.f. 1-4-1963. 8. Union territory of Goa has attained statehood, with effect from 30-5-1987.

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 28

Title: Appeal to Supreme Court

State: Central

Year: 1958

(1) An appealshall lie to the Supreme Court from any judgment of the High Court delivered ona case stated under section 26 in any case which the High Court certifies as afit case for appeal to the Supreme Court. (2) Where the judgment of the High Court isvaried or reversed on appeal under this section, effect shall be given to theorder of the Supreme Court in the manner provided in sub-section (6) of section26. (3) The High Court may, on application madeto it for the execution of any order of the Supreme Court in respect of anycosts awarded by it, transmit the order for execution to any court subordinateto the High Court.