Court : Gujarat
Reported in : AIR1967Guj141; [1966]61ITR357(Guj)
..... takes away such right nor can any such provision be spelt out by necessary implication. we must, therefore, reach the conclusion that even after the amendment of the income-tax act by the amending act of 1939, a partner's share in the profit of loss of an unregistered firm is liable to be taken into account in computing his income ..... 10 and the ratio of the decision of the privy council in arunachalam chettair's case must, therefore, still continue to apply even after the amendment of the income -tax act by the amending act of 1939.(7) the question however remains whether there is anything in the proviso to section 16(1)(b) or in any of the other ..... this decision, it was argued on behalf of the revenue, was given under the income-tax act as it stood prior to its amendment by the amending act of 1939 and whatever might have been the position under the act as unamended, the amendments made by the amending act of 1939 had made a radical change in the position of a partner in an unregistered .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)4GLR2840
..... grant a permit, inter alia, to the government or any undertaking in which government was financially interested.' 'a cursory perusal of the new provisions introduced by the amending act will show that very extensive powers were conferred on the provincial government and the latter were authorised, in exercise of these powers, not only to regulate or control ..... the fares or freights but also to take up the entire motor transport business in the province and run it in competition with and even to the exclusion of all motor transport operators. it was in exercise of the powers under the newly added sub-section (3) of ..... ', of motor transport business and it became operative again even as against citizens.the court pointed out that the effect of constitution (1st amendment) act, was to remove the shadow and to make the impugned act free from all blemish or infirmity. if that were not so, then, it is not intelligible what 'existing law' could have been .....
Tag this Judgment!Court : Gujarat
Reported in : (1976)5CTR(Guj)23
..... find out whether the tax assessed (rs. 1270/-) was outstanding or not. but in the view of the manedment made in section 271(1)(i) by the direct taxes (amendment) act, 1974, the position would be, as stated above viz., that the liability is incurred by the assessee to pay the penalty provided there is no reasonable cause for not filing ..... at the rate of 2% is to be computed.3. we are of the opinion that the contentions of the revenue should clearly prevail, in view of the amendment made by the direct taxes (amendment) act, 1974. section 271(1)(a) read with section 271(1)(i) prescribes the liability and the rate of penalty. sub-section (2) of section 271 prescribes ..... the return in time. question nos. 1 and 2 which have been raised in view of the provision of law as it stood before the amendment made in section 271 (1)(i) by the direct taxes (amendment) act, 1974 need not be answered. we, therefore, answer question no. 3 as under :'the assessee-firm would incur a liability provided there is .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)218CTR(Guj)479
..... term in respect of long term capital gains was allowed not by way of deduction but through lower rates prescribed in section 115 of the act. with the amendment of finance act, 1987, the statutory deductions or concessional rates available in section 80t and 115 have been incorporated in section 48 itself and sections 80t and 115 ..... under section 54e is to be given before giving deduction under section 80t. on the basis of this decision, she has submitted that after the amendment, by virtue of finance act, 1987, section 80t was deleted and deduction allowable therein to a non-corporate assessee was clubbed in section 48(2) and hence, deduction allowable under ..... board of direct taxes has issued circular no. 45 dated 22.09.1987 explaining the provisions contained in the finance act, 1987. prior to the amendment, under the provisions of section 48 of the income tax act, computation of capital gains resulting from the transfer of capital asset is made by deducting the cost of acquisition, the .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)199CTR(Guj)223; (2005)3GLR2218; [2006]281ITR19(Guj)
..... the specified modes; but the said provision did not permit adopting nil cost of acquisition where the cost was unascertainable.6.1 section 55(2)(a)(i) of the act after amendment specified that where the price was known for acquisition of the specified asset that was the price which was to be taken as cost of acquisition and it had ..... nil the entire sale consideration is required to be taxed as profits and gains under the head 'capital gains' is also sought to be supported by the amendment in section 55 of the act. according to the learned counsel for the revenue the principle -- that a capital asset which does not have cost of acquisition does not fall within the charging ..... referred to an asset acquired by a mode not being any of the modes specified under section 49(1)(i) to (iv) of the act. that even otherwise as could be seen from the said amended provision it pertains only to the specified asset and, therefore, there was no implied inclusion of any other asset where the cost was not known .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1964Guj59; (1963)GLR1033
..... forbear from enforcing the bombay lotteries and prize competition control and tax act, 1918 as amended by amending act xxx of 1952. the act as originally enacted, did not extend or apply to prize competitions contained in newspapers printed or published outside the province of bombay, but by (no amending act the scope of application of the act was extended to prize competitions contained in newspapers printed and published even outside ..... the state of bombay. the petitioners challenged the act in .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1965Guj112; (1964)GLR705; (1965)ILLJ567Guj
..... 1)(b) of the state act which deals with taxes in respect prize competitions for which a licence had to be obtained became void but not the rest. the supreme court further held that when the words 'for which a licence has been obtained' under s. 8 were removed by the mysore amending act, xxvi of 1957, the ..... rest of the clause (b) in s. 12(1) of the state act ..... in the province of bombay as against the central act the central legislature having passed several amending acts amending that act, the central act would prevail as from the dates when the amending acts came into force and the bombay industrial relations act, therefore, would be void unless every time the acts amending the industrial disputes act were enacted a fresh assent was obtained. as an .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1983Guj86
..... that by refusing to invite offers at per the normal practice the railway administration deprived the petitioners of their legal and constitutional right to enter into a fair competition to secure the contract in question. they, therefore, prav that the mala fide action of the railway administration reserves to be set at nought so that ..... kendu leaves only from the persons who purchased these leaves from individual unit during the preceding year and who acted as purchasers without default and to the satisfaction of the government and the method of sale by open competition was given up. the petitioner's offer for payment of higher price was spurned. rasbihari panda, therefore, ..... notified earlier were made. in the challenge so far as the validity of the act is concerned, a question of importance regarding the scope and effect of article 19(6) of the constitution also arose. the court after referring to the amendment made under article 19(6) observed that the state may, according to the .....
Tag this Judgment!Court : Gujarat
Reported in : 1984(2)ECC63; 1982(10)ELT821(Guj); (1983)1GLR1
..... any such categories are deductible in making computation of the value of goods for the purposes of the levy in the context of section 4 of the excise act prior to its amendment by act 22 of 1973 with effect from october 1, 1975. 5. on a plain reading the scheme of section 4 becomes evident. for determining the value of the goods ..... . in other cases, the producer has to determine the amount of profit to be included within the price of the goods keeping in view the demand for the goods, the competition he has to face in the market and the economic condition of the consumers of such goods. thus the above analysis reveals that there is no scope for any selling ..... be referred to a larger bench. the division bench presumably did not consider it necessary to do so in view of the fact that section 4 of the excise act had been amended meanwhile as can be gathered from the fact that the earlier judgment in first gold tobacco case was referred to as having been rendered in the context of the .....
Tag this Judgment!Court : Gujarat
Reported in : 1983LC1D(Gujarat)
..... any such categories are deductible in making computation of the value of goods for the purposes of the levy in the context of section 4 of the excise act prior to its amendment by act 22 of 1973 with effect from october 1, 1975.5. on a plain reading the scheme of section 4 becomes evident. for determining the value of the ..... enter into the sale price. since section 4 takes into account nothing other than the wholesale price at the factory gate which the manufacturer can reasonably expect, for making the competition, the price obtained by the wholesaler in his turn cannot be take as a measure. to make manifest the rational basis ('why of the rule') it is observed that ..... other cases, the producer has to determine the amount of profit to be included within the price of the goods keeping in view the demand for the goods, the competition he has to face in the market and the economic condition of the consumers of such goods. thus the above analysis reveals that there is no scope for any selling .....
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