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Finance (No. 2) Act 1977 Schedule I

Title: First Schedule

State: Central

Year: 1977

..... (5) Notwithstanding anything contained in this rule, no loss which has not been determined by the Income-tax Officer under the provisions of these rules, or the rules contained in Part IV of the First Schedule to the Finance Act, 1974 (20 of 1974), or of the First Schedule to the Finance Act, 1975 (25 of 1975), or of the First Schedule to the Finance Act, 1976 (66 of 1976), shall be set off under sub-rule (1) or, as the case may be, sub-rule (2). Rule 10 - Where the net result of the computation made in accordance with these rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil. Rule 11 - The provisions of the Income-tax Act relating to procedure for assessment (including the provisions of section 288A relating to rounding off of income) shall, with the necessary modifications, apply in relation to the computation of the net agricultural income of the assessee as they apply in relation to the assessment of the total income. Rule 12 - For the purposes of computing the net agricultural income of the assessee, the Income-tax Officer shall have the same powers as he has under the Income-tax Act for the purposes of.....

Finance (No. 2) Act, 1977 Complete Act

State: Central

Year: 1977

.....THERE UNDER (1) The amendments directed in the Fifth Schedule, being amendments to provide for a new appellate authority under the Income-tax Act-,the Wealth-tax Act, 1957-,the Gift- tax Act, 1958- the Companies (Profits) Surtax Act, 1964-andthe Interest-tax Act, 1974-and for matters connected therewith, shall be made in the said Acts. (2) For the removal of doubts it is hereby declared that any action required to be taken, after the commencement of this section, in relation to any appeal disposed of by an Appellate Assistant Commissioner or a Commissioner before such commencement under any. Act referred to in subsec. (1), may be taken as if the amendments directed to be made in that Act by sub-section (1) had not been made. (3) This section shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: SECTION 40: POWER TO EXEMPT FEATURE FILMS ETC. FROM PAYMENT OF EXCISE DUTY (1) The Central Government may. by notification in the Official Gazette, exempt retrospectively from a date not earlier than the 18th day of June. 1977. subject to such conditions as may be specified in the notification, cinematograph films,.....