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Home Bare Acts Phrase: section 10 of the code may not be applicable but the pleadings in both the suit are almost the same and as such it isIncome Tax Act, 1961 Section 115VP
Title : Method and Time of Opting for Tonnage Tax Scheme
State : Central
Year : 1961
.....the option for Tonnage Tax Scheme, and a copy of such order shall be sent to the applicant: Provided that no order under clause (ii) shall be passed unless the applicant has been given a reasonable opportunity of being heard. (4) Every order granting or refusing the approval of the option for Tonnage Tax Scheme under clause (i) or clause (ii), as the case may be, of sub-section (3) shall be passed before the expiry of one month, from the end of the month in which the application was received under sub-section (1). (5) Where an order granting approval is passed under sub-section (3), the provisions of this Chapter shall apply from the assessment year relevant to the previous year in which the option for Tonnage Tax Scheme is exercised. __________________ 1. See rule 11P and Form No. 65.
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 88B
Title : Rebate of Income-tax in Case of Individuals of Sixty-five Years or Above [Omitted]
State : Central
Year : 1961
1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88B as amended by the Finance Act, 1997, with effect from 1st April, 1998; Finance Act, 2000, with effect from 1st April, 2001 and Finance Act, 2003, with effect from 1st April, 2004, stood as under: 88B. Rebate of income-tax in case of individuals of sixty-five years or above An assessee, being an individual resident in India, who is of the age of sixty-five years or more at any time during the previous year shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deduction under this Chapter) on his total income, with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of twenty thousand rupees, whichever is less.
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 88C
Title : Rebate of Income-tax in Case of Women Below Sixty-five Years [Omitted]
State : Central
Year : 1961
1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88C, as inserted by the Finance Act, 2000, with effect from 1st April, 2001, stood as under: 88C. Rebate of income-tax in case of women below sixty-five years. An assessee, (a) being a woman resident in India ; and (b) below the age of sixty-five years, at any time during the previous year, shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deductions under this Chapter) on her total income, with which she is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of five thousand rupees, whichever is less.
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 88D
Title : Rebate of Income-tax in Case of Certain Individuals [Omitted]
State : Central
Year : 1961
1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88D, as inserted by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005, stood as under: 88D. Rebate of income-tax in case of certain individuals. An assessee, being an individual resident in India, (a) whose total income does not exceed one hundred thousand rupees, shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax; (b) whose total income exceeds one hundred thousand rupees and the income-tax payable on such total income (as computed before allowing the deductions under this Chapter) exceeds the amount by which such total income is in excess of one hundred thousand rupees, shall be entitled to a deduction from the amount of income-tax on his total income, of an amount equal to the amount by which the income-tax payable on such total income is in excess of the amount by which the total income exceeds one hundred thousand.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Chapter XIII
Title : Income-tax Authorities
State : Central
Year : 1961
.....may also determine the interest or penalty, if any, payable or imposable accordingly : Provided further that where a person has paid or made satisfactory arrangements for payment of all the amounts referred to in clauses (ii), (iia) and (iii) or any part thereof, the Assessing Officer may, with the previous approval of the Chief Commissioner or Commissioner, release the assets or such part thereof as he may deem fit in the circumstances of the case. 20. Prior to omission, sub-section (6) stood as under : (6) The assets retained under sub-section (5) may be dealt with in accordance with the provisions of section 132B. 21. Prior to omission, sub-section (7) stood as under : (7) If the Assessing Officer is satisfied that the seized assets or any part thereof were held by such person, for or on behalf of any other person, the Assessing Officer may proceed under sub-section (5) against such other person and all the provisions of this section shall apply accordingly. 22. Substituted for one hundred and eighty days from the date of the seizure by the Finance Act, 2002, with effect from 1st June, 2002. 23. Substituted for under clause (c) of section 158BC by the Finance.....
View Complete Act List Judgments citing this sectionAgricultural Income-tax Act, 1957 Chapter 4
Title : Return of Income, Assessment, Etc.
State : Karnataka
Year : 1957
.....the prescribed manner, pay in advance the full amount of tax payable by him on the basis of such return and shall furnish along with the return satisfactory proofof the payment of such tax. After the assessment is made under section 19 the amount of tax so paid shall be deemed to have been paid towards the tax so assessed and excess amount, if any, paid shall be refunded to such person. (b) If after the assessment under section 19 it is found that the tax paid under clause (a) was less than the tax payable by more than twenty-five per cent, the3 [Assistant Commissioner of Agricultural Income-tax] may direct such person to pay in addition to the tax, by way of penalty, a sum9 [equal to twenty four per cent per annum of the amount of tax so paid short calculated from the date of expiry of the year to which such taxrelates:] 10 [Provided that in the case of a person whose total agricultural income as determined by the3 [Assistant Commissioner of Agricultural Income-tax] is less than twenty thousand rupees, the penalty imposed shall not exceed one hundredrupees.]] 11 [Provided further that no penalty under this sub-section shall be imposed unless the assessee affected has had a.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 10
Title : Incomes Not Included in Total Income
State : Central
Year : 1961
.....1] : For the purposes of this sub-clause, the expression industrial undertaking means any undertaking which is engaged in (a) the manufacture or processing of goods; or 53[(aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or] (b) the business of generation or distribution of electricity or any other form of power; or 54[(ba) the business of providing telecommunication services; or] (c) mining; or (d) the construction of ships; or 55[(da) the business of ship-breaking; or] (e) the operation of ships or aircrafts or construction or operation of rail systems; 56[Explanation 1A : For the purposes of this sub-clause, the expression interest shall not include interest paid on delayed payment of loan or on default if it is in excess of two per cent per annum over the rate of interest payable in terms of such loan.] 57[Explanation 2 : For the purposes of this clause, the expression interest includes hedging transaction charges on account of currency fluctuation;] (v) interest on (a) securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, in the Reserve.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Chapter X
Title : Special Provisions Relating to Avoidance of Tax
State : Central
Year : 1961
.....executive directors or members of the governing board, of each of the two enterprises are appointed by the same person or persons ; or (g) the manufacture or processing of goods or articles or business carried out by one enterprise is wholly dependent on the use of know-how, patents, copyrights, trade-marks, licences, franchises or any other business or commercial rights of similar nature, or any data, documentation, drawing or specification relating to any patent, invention, model, design, secret formula or process, of which the other enterprise is the owner or in respect of which the other enterprise has exclusive rights ; or (h) ninety per cent or more of the raw materials and consumables required for the manufacture or processing of goods or articles carried out by one enterprise, are supplied by the other enterprise, or by persons specified by the other enterprise, and the prices and other conditions relating to the supply are influenced by such other enterprise ; or (i) the goods or articles manufactured or processed by one enterprise, are sold to the other enterprise or to persons specified by the other enterprise, and the prices and other conditions relating thereto.....
View Complete Act List Judgments citing this sectionAgricultural Income-tax Act, 1957 Section 3
Title : Charge of Agricultural Income-tax
State : Karnataka
Year : 1957
(1) Agricultural Income-tax at the rate or rates specified in1[x x x] the Schedule to this Act shall be charged for each financial year commencing from the first April 1957 in accordance with and subject to the provisions of this Act, on the total agricultural income of the previous year of every person. 2[Provided that where by virtue of any provision of this Act, agricultural income tax is to be charged in respect of the income of a period other than the previous year, agricultural income in the total tax shall be charged accordingly.] (2) Where there is included agricultural income of an assessee any income exempted from agricultural income-tax by or under the provisions of this Act, the agricultural income-tax payable by the assessee shall be an amount bearing to the total amount of the agricultural income-tax which would have been payable on the total agricultural income had no part of it been exempted, the same proportion as the unexempted portion of the total agricultural income bears to the total agricultural income. 1[(3) x x x] ________________________ 1. Omitted by Act 14 of 1983 w.e.f. 1.12.1982 2. Inserted by Act 10 of 1987 w.e.f. 1.4.1987
View Complete Act List Judgments citing this sectionAgricultural Income-tax Act, 1957 Section 66
Title : Composition of Agricultural Income Tax
State : Karnataka
Year : 1957
.....and shall not be eligible to carry forward any loss or unabsorbed depreciation of any of the previous years. (7) The assessment of tax under this section on the fraction of an acre shall be made proportionately and tax payable shall be rounded off to the nearest rupee; (8) When there is any change in the extent of land during the previous year the maximum extent of land held for not less than one hundred and eighty days during the later period of the previous year shall be deemed to be the extent of land held during the previous year for the purpose of assessment of tax under this section. (9) If for any reasons, extent of land in respect of which composition is permissible under this section, has escaped composition or composition has been permitted at a lower rate, the provisions of section 36 shall apply as if it were an escape of agricultural income under the Act.] _________________________ 1. Section 66 Inserted by Act 23 of 1985 w.e.f. 1.4.1985. 2. Substituted by Act 5 of 2000 w.e.f. 1.4.2000. 3. Omitted by Act 10 of 1987 w.e.f. 1.4.1985. 4. Inserted by Act 18 of 1994 w.e.f. 1.4.1994. 5. Substituted by Act 18 of 1994 w.e.f. 1.4.1994. 6. Inserted by Act.....
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