Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2006)101ITD229(Kol.)
..... of the said order passed by the assessing officer. he further submits that the decision relied on by the ld.counsel for the assessee are prior to the amendment made by the finance act, 1992 with effect from 1.4.1993, therefore, the same are not applicable in the assessee's case. he, therefore, submits that the disallowance of rs. 59,280 ..... trade usage excluding lavish expenditure. such expense did not come within the meaning of "entertainment expenditure" prior to 1.4.1976, when explanation 2 was brought in by a retrospective amendment made in 1983 of sub-section (2a) of section 37. the insertion of explanation 2 made retrospectively but restricted in its application only with effect from 1.4.1976, is ..... .32 rs. 28,69,679.002004-2005 rs. 1,35,56,225.00 rs. 33,87,834.002005-2006 rs. 1,74,33,890.00 rs. 47,98,622.002006-2007 rs. 1,77,89,481.22 5.3 at this stage the ld. counsel for the assessee has also placed on record the following graphics: 5.4. in the light .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1932Cal745,140Ind.Cas.5
..... printed in the said newspaper on 17th april 1932 an article containing words of the nature described in sub-section (1), section 4, press (emergency powers) act, 1931, as amended by section 63, emergency powers ordinance, 1932, the objectionable passages wherein being set out in the annexure to the notices served on the petitioners and the ..... turbulent colonists. to save the indians from their present distress it is necessary to establish factories and revive their trade and industries, & free them from the unfair competition of the foreigners; but the indian government have not done anything for the convenience of the indians, and there is no evidence to show that the government ..... their trade and commerce and their own mill industry for mere subsistence of such, indians and how urgent it is to protect the same from an unjust foreign competition. but what steps have the indian government taken up till now to their (indian's) advantage and according to their desire no evidence is there that .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1957Cal234
..... but in india there is no such legislative enactments with such prohibitions as are contained in the american corrupt practices act, as amended by the taft hartley act, the lobbying act and regulations under the revenue act. as the number of applications here are becoming more and more numerous by which the companies are trying ,to ..... v. congress of industrial organisations, (1948) 335 us 106; 92 law ed 1849 (c), was based on the american corrupt practices act as amended by the taft hartley act which expressly declares it to be unlawful for any labour organisation to make a contribution of expenditure in connection with any election at which ..... bodies working under statutory conditions for different purposes. secondly, it will induce the most unwholesome competition between business companies by introducing the race, who could pay more to the political funds of political parties.in that competition business interest is bound to suffer in the long run. in the bid for political favouritism .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1963Cal178,66CWN211
..... the 26th june, 1918. the government of india have also received information that your date of birth was recorded as 27th december, 1901, when yon sat at the open, competitive examination in july-august, 1923, held by the u. k. civil service commission for appointment to the indian civil service. this date viz., 27th december, 1901, tallies with ..... also fortified by the marginal note to the article, which reads as, 'restriction on practice after being a permanent judge'. that marginal note was in the constitution seventh amendment bill, which was passed by the parliament, is a part of the constitution and it is permissible to look to it for the clue to the meaning of the ..... caused to be recorded by the petitioner himself at the time when he sat for the examination held by the united kingdom civil service commission. that is not acting capriciously but acting on evidence as to age -- although it may be, as the petitioner urges, that those two documents also did not give the correct age of the .....
Tag this Judgment!Court : Kolkata
Reported in : (1981)23CTR(Cal)180,[1983]139ITR763(Cal)
..... large the cost of replacement was allowed as deduction in lieu of depreciation in respect of certain assets. but by the amendments made by the i.t. (amend.) act, 1946, the finance act, 1955 and the finance act, 1956, certain initial depreciation was allowed in respect of buildings, or newly erected machinery and plant installed. the supreme court ..... instructive to refer to the same for the purpose of understanding how the legislature interpreted the supreme court decision. the i.t. act, 1961, was amended by the finance (no. 2) act of 1980, by incorporating section 80aa which reads as follows:'80aa. computation of deduction under section 80m.--where any deduction is required to ..... income received by the taxpayer and not in respect of the net income computed after making the deduction provided under the act.' 18. finally, of course, the finance (no. 2) act of 1980, amending inserting section 80aa and section 80ab was passed in the manner, we have indicated before. the reason for such changes .....
Tag this Judgment!Court : Kolkata
Reported in : [1989]180ITR86(Cal)
..... that the business must also be deemed to have been conducted by the assessee during the previous year in which the sale took place. therefore, even after the amendment of 1949, it was necessary that during the whole or a part of the previous year, the business should have been carried on by the assessee in order ..... treated as profits of the business under the second proviso to section 10(2)(vii) of the indian income-tax act, 1922.16. the supreme court, in that case, further pointed out that the fiction created by the amendment introduced in 1949 is a limited one for a specific purpose and the fiction cannot be enlarged for the purpose ..... intention of the legislature.21. in the light of the aforesaid rule of construction, the legislative intention indicated by the express language of section 176(4) of the act does not warrant any assumption of a further fiction treating the receipts as the income chargeable under the head 'profits and gains of business, profession or vocation'. wherever .....
Tag this Judgment!Court : Kolkata
Reported in : (1982)29CTR(Cal)46,[1982]136ITR98(Cal)
..... what the law was at the relevant time, not by taking a subsequent law as declaratory provisions of law. it does not appear from the scheme of the act or the subsequent amendment made that it was so. even apart from it, this aspect of the matter does not in any way help the revenue in our opinion. in view ..... of interest. none of these observations, in our opinion, in any way militate against the view taken by the tribunal in this case. it was submitted that the subsequent amendment in 1974 was really clarificatory in nature and made it incumbent that debentures, if any, to be entitled to the computation of capital must be issued to the public. ..... the tribunal was right in holding that the said debentures should be included in capital under clause (iv) of rule 1 of the second schedule to the companies (profits) surtax act, 1964 ?'2. the assessee is a company. it carries on business in the manufacture and sale of pharmaceutical goods. it closes its accounts on 31st march. its surtax assessment .....
Tag this Judgment!Court : Kolkata
Reported in : [1989]73STC277(Cal)
..... firm v. state of tamil nadu reported in air 1985 sc 12 constitutional validity of the provision of section 2 of the tamil nadu additional sales tax (amendment) act, 1976 was under challenge. that section provided forlevying additional tax on the basis of taxable turnover. if the taxable turnover exceeded rs. three lakhs but did ..... ') and the provisions of section 4aaa of the west bengal sales tax act, 1954 (hereinafter referred to as 'the act of 1954') which were incorporated in the said acts respectively by the bengal finance (sales tax) amendment act, 1979 (hereinafter referred to as 'the 1979 amendment').3. learned counsel appearing for the appellants and the writ petitioners have ..... buyer, which can happen, either when he is specifically prohibited for recouping himself as is envisaged by section 6b(4) or it may arise from an amendment of taxing act, making the imposition of tax or additional tax to take effect from a back date, [see in this regard air 1958 sc 756 (konduri buchirajalingam .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]111ITR825(Cal)
..... that the assessment year in question, i.e , 1954-55, ended on 31st march, 1956, under the unamended act and though the amending act retrospectively extended the period to two years with effect from 1st april, 1956, the proceedings which were available before the amendment had become barred before that date. this decision does not in our opinion apply in the facts and circumstances ..... v. lal & co. : [1964]53itr231(sc) . in this case, the supreme court was considering section 34(1) of the indian income-tax act, 1922, which was amended by the finance act, 1956, with retrospective effect from 1st april, 1956. by the amendment the original period of limitation was extended from one year to two years from the end of the assessment year concerned. on .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1956Cal636
..... -tax enquiry committee of 1936 had to consider the provision in chapter 5 of their report and they made the following observations:'although, we understand, the second income-tax amendment act of 1933 was intended to provide for the allowance to the same extent as interest, of annual payments charged on the property, the wording of section 9(1) of ..... of the section is only incidental and i am referring to it at all, because i consider it not unuseful to take a look at the background.29. before the amendment act of 1939, the clause read as follows:clause (iv) 'where the property is subject to a mortgage, or other capital charge, the amount of any interest on such ..... in the form into which it had been altered by the select committee. subsequently, the legislature, when passing the amendment act of 1939, passed the clause in the same form and it is in that form that it still appears in the act.35. i have referred to this background only for the purpose of showing that the anomaly, which mr. .....
Tag this Judgment!