Judgment Search Results Home > Cases Phrase: competition amendment act 2007 section 8 amendment of section 10 Court: kolkata Page 16 of about 8,244 results (0.259 seconds)

Commissioner of Income-tax Vs. Ellerman Lines Ltd.

Court : Kolkata

Reported in : [1970]75ITR47(Cal)

..... to be a strange way of interpreting the statutory or legal position in this respect, a course adopted perhaps to avoid an open breach of the indian income-tax act, after its amendment as noticed above.30. incidentally, it also affects the assessee's own contention in this regard that the ratio certificate granted by the income-tax authorities is final and ..... is that the ' development rebate ' under the indian income-tax act corresponds to the ' investment allowance under the u. k. act. now, ' development rebate' was introduced in the indian act on april 1, 1955, by section 8 of the finance act, 1955, by amending section 10 of the income-tax act and enlarging it. further amendment on this point of development rebate was introduced in the indian .....

Commissioner of Income-tax, Central Vs. Mugneeram Bangur and Co.

Court : Kolkata

Reported in : [1983]139ITR414(Cal)

..... basis of such assessment, a refund shall be given of the difference. (4) where the person who was at the commencement of the indian income-tax (amendment) act, 1939 (vii of 1939), carrying on any business, profession or vocation on which tax was at any time charged under the provisions of the indian income-tax ..... the relief. the high court observed that income from property, buildings, and land appurtenant thereto ordinarily described as house property income is charged under section 9 of the act. according to the madras high court, it was a separate head of charge like section 10 which covered the income from business, profession or vocation. the house ..... -tax. the tribunal observed that such computation was only a provisional computation. in that view of the matter, the tribunal was of the view that the aac had acted rightly ingiving relief for super-tax also. in these circumstances, the three questions indicated above have been referred to this court.10. the first question, therefore, to .....

Commissioner of Wealth-tax Vs. India Exchange Traders' Association

Court : Kolkata

Reported in : [1992]197ITR356(Cal)

..... court decided the issue in the absence of any rule for valuing unquoted shares of companies other than investment companies.68. it may be mentioned that the direct tax laws (amendment) act, 1989, has recast, with effect from april 1, 1989, i.e., for and from the assessment year 1989-90, the existing provisions of section 7 which deals with ..... such rules may provide the manner in which the market value of any asset may be determined. the words 'market value' are not defined in the act. rule 1d was inserted by the wealth-tax (amendment) rules, 1967 (see [1967] 66 itr 44). it lays down the mode of computation of the market value of unquoted equity shares of companies ..... 60. the supreme court did not have, the opportunity of examining the impact of rule 1d inserted by the wealth-tax (amendment) rules, 1967, as the supreme court was concerned with the question of valuation under the gift-tax act and the rules framed thereunder.61. rule 1d as framed, unlike rule 10(2) of the gift-tax rules, gives .....

Britannia Industries Ltd. Vs. Joint Commissioner of Income-tax and ors ...

Court : Kolkata

Reported in : (2005)193CTR(Cal)26,[2004]271ITR123(Cal)

..... once the distinction between the eligibility to deduction and the eligibility of deduction are removed by the finance act, 1989, the position stood clear as has been contended by dr. pal. inasmuch as after the amendment brought about in the finance act, 1989, the word 'eligible' from the phrase 'profits of eligible business or profession' having been ..... of depreciation ; (ii) the amount of income-tax paid or payable, and provision therefor ; (iii) the amount of surtax paid or payable under the companies (profits) surtax act, 1964 (7 of 1964) ; (iv) the amounts carried to any reserves, by whatever name called ; (v) the amount or amounts set aside to provisions made for meeting ..... the previous year relevant for the assessment year. the question raised in this case relates to the eligibility of deduction under section 32ab of the income-tax act, 1961. having regard to section 32ab as it stood then whether the income derived under the head 'income from business or profession' only would be .....

Britannia Industries Ltd. Vs. Joint Cit and ors.

Court : Kolkata

Reported in : (2004)193CTR(Cal)26,[2004]271ITR128(Cal),[2005]143TAXMAN325(Cal)

..... once the distinction between the eligibility to deduction and the eligibility of deduction are removed by the finance act, 1989, the position stood clear as has been contended by dr. pal. inasmuch as after the amendment brought about in the finance act, 1989, the word 'eligible' from the phrase 'profits of eligible business or profession' having been ..... of depreciation(ii) the amount of income-tax paid or payable, and provision therefor;(iii) the amount of surtax paid or payable under the companies (profits) surtax act, 1964 (7 of 1964);(iv) the amounts carried to any reserves, by whatever name called;(v) the amount or amounts set aside to provisions made for meeting ..... the previous year relevant for the assessment year. the question raised in this case relates to the eligibility of deduction under section 32ab of the income tax act, 1961. having regard to section 32ab as it stood then whether the income derived under the head income from business or profession only would be eligible .....

Deputy Commissioner of Vs. Schlumberger Seaco Inc.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1994)50ITD348(Kol.)

..... tax at the rates applicable to the ordinary income of the non-resident as specified in the relevant finance act. (ii) consideration which will be chargeable to tax in the hands of the recipient under the head 'salaries'. 16.4 the aforesaid amendment has come into force with effect from the 1 st june, 1976 and will apply in relation to ..... the assessment year 1977-78 and subsequent years [section 4(b) (part) of the finance act].from the above circular it will be clear that the legislature while introducing ..... by the finance act, 1987 but with retrospective effect from 1-4-1983.alter the judgment of the supreme court in bombay dyeing & mfg. co.ltd.'s case (supra), there can be no dispute that a retrospective amendment can give rise to an action on the ground that the failure to apply the provision gave rise to a mistake apparent .....

Asstt. Cit Vs. Pallawi Resources Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)86TTJ(Kol.)579

..... (supra) but the point of departure was made in the following context : "upon taking into consideration the explanation appended to section 23(1) as inserted by reason of taxation laws (amendment) act, 1975, as also upon consideration of the circulars issued by the board, it was further held : 'but the legal position is that such arrears of rent are the annual rent ..... sum for which the property might reasonably, be expected to be let from year to year. to our mind, this clause (b), a later insertion by the taxation laws (amendment) act, 1976, is meant to cover a case where the rent for a year actually received by the owner is in excess of the lawful rent which is known as fair ..... property is its annual value. the annual value is to be determined in accordance with the provisions of section 23. sub-s. (1) of section 23, by virtue of the amendment with effect from the assessment year 1976-77, has two limbs, clause (a) and clause (b).clause (a) says that the annual value is the sum for which the .....

Principal Commissioner of Income Tax2, Kolkata Vs. National Insurance ...

Court : Kolkata

..... of the business. to enable the general insurance corporation and its subsidiaries to play a more active role in capital markets for the benefit of policy-holders.the finance act has amended sub-rule (b) of rule 5 of the firs.schedule to provide for exemption of the profits earned by them on the sale of investment. as a corollary, ..... exemption of the aforesaid sum, being profits on sale of investments for that assessment year. the assessing officer in an order passed on 31st december 2007 under section 143(3) of the act rejected the claim of the assessee for reduction of rs.245.09 crores from book profit and added back the said sum to the total income ..... of a general insurance company. thirdly, he has argued that the consistent stand of the income tax authorities between the assessment years 1991-92 and 2004-05 as also 2007-08 till 2010-11 reflects that the mandate of the circular was accepted by the tax authorities and followed. there was consistent practice of not making adjustment by way .....

The Metal Corporation of India Ltd. and anr. Vs. Union of India (Uoi) ...

Court : Kolkata

Reported in : AIR1970Cal15,73CWN676

..... the owner had been deprived of. the question of compensation would be a 'justiciable issue. these decisions were given before the constitution (4th amendment) act 1955, whereby article 31(2) was amended. the amendment provided inter alia that a law providing for compulsory acquisition of properties shall not be called in question in any court on the ground that ..... the legislature made the law in fraud of powers in the sensewe have explained, the question is within the jurisdiction of the court'. the result of the amending act was that if the state government acquired land for housing purposes, the claimant got only the value of the land at the date of the publication of the ..... all the increments due to spiralling of prices, it must be held that there was a violation of article 31(2). it was further held that the amending act did not derogate from the principle that the valuation on the date of issue of notification afforded the criterion for determining compensation of the land to be acquired .....

Prahladrai Agarwalla and ors. Vs. Sm. Renuka Pal and ors.

Court : Kolkata

Reported in : AIR1982Cal259

..... is an undervaluation and would not in any event determine the question of jurisdiction. mr. ghose referred to section 18 of the presidency small cause courts act as amended by the west bengal act xxxii of 1969. the portion relevant for our purposes of the said section reads as under :'subject to the exceptions in section 19, the small cause ..... speculation and cannot determine the question of jurisdiction. subsequent events however, show that the respondents not only did not give up the claim for recovery of possession, but amended the plaint in such a way that the suit herein became a suit solely cognizable by this court. whether that is permissible or not is the subject matter of ..... . subsequent facts would reveal that not only the respondents did not give up any part of their claim in the suit but on the contrary they applied for amendment of the plaint so as to convert the suit to a suit triable by this court in its ordinary original civil jurisdiction and not on the basis of concurrent .....