Court : Allahabad
Reported in : [1971]82ITR495(All)
..... of the business were not earned by the beneficiaries and were not immediately derived by them from the carrying on of the trade within the meaning of section 19 of the finance act, 1907, and that the benefit of the relief in respect of earned income on the profits in question could not be allowed.48. ..... means any income of an assessee, who is an individual, hindu undivided family, unregistered firm or other association of persons not being a company, a local authority, a registered firm or a firm treated as registered under clause (b) of sub-section (5) of section 23- (a) which is chargeable under the head 'salaries' ; or (b) which is chargeable under the head 'profits and gains of business, profession or vocation' where the business, profession or vocation is carried on by the assessee or, in ..... earned income' means any income of an assessee who is an individual, hindu undivided family, unregistered firm or other association ofpersons not being a company, a local authority, a registered firm or a firmassessed under clause (b) of sub-section (5) of section 23- (a) which is chargeable under the head 'salaries' ; or (b) which is chargeable under the head 'profits and gains of business, profession or vocation, where the business, profession or vocation is carried on by the assessee or, ..... has been numbered as 13 of 1965, whereas that made at the instance of haji abdul shakoor has been numbered as 201 of 1965. ..... 1965 ..... 13 of 1965 in the affirmative and in favour of the assessee ; my answer to .....
Tag this Judgment!Court : Allahabad
Reported in : 1993(63)ELT626(All)
..... however, it cannot be over-looked that section 35 of the central excises and salt act was amended by the finance (2) act, 1980 which was published in gazette of india on 21-8-1980. ..... the amendments which were envisaged under section 50 of the finance (2) act, 1980 so far as section 35 relating to appeals were concerned vested the collector (appeals) with the jurisdiction to condone the delay in filing an appeal by a further period of three months. ..... that if any difficulty arises in giving effect to the provisions of any act referred to in sub-section (1) as amended by the amendments thereto directed in the vth schedule (particularly in relation to the transition to the provisions of that act as so amended) the central government may by general or special order do anything not inconsistent with such provisions as so amended which appears to be necessary or expedient for the purpose of removing difficulty provided that no such order shall be made after an expiry of two years from the date on which ..... in the present case, we find that it is only to mitigate the oppressiveness of section 35 of the central excises and salt act, that steps were taken under the finance (2) act, 1980 to provide for extension of the period of limitation and that is why a proviso was added vesting the appellate authority with the jurisdiction to condone the delay and extend the period of limitation to six months. .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]280ITR385(All)
..... it is no doubt true that by the said finance act the retrospective amendment was made in the relevant provisions of the act. ..... learned counsel for the revenue submitted that as an amendment was made under section 80j of the act by the finance (no. ..... he submitted that in view of the retrospective amendment it would be treated that for the assessment year in question, borrowed capital had to be excluded while working out the capital employed in a business under section 80j of the act and therefore the order passed by the commissioner of income-tax under section 263 was perfectly justified. ..... the amendments in the relevant provision of the section were made by the finance (no. ..... , on the facts and in the circumstances of the case, the tribunal was correct in holding that since the event of retrospective amendment made in section 80j had occurred after the framing of the assessment on february 13, 1980, the commissioner of income-tax could not validly assume jurisdiction under section 263 of the act 2. ..... is not in dispute that after the retrospective amendment the provisions of the statute exclude the borrowed capital from being taken into consideration for working out the capital employed under section 80j of the act. ..... as a result of the retrospective amendment made in the aforesaid section the position under law would be that during the assessment year in question borrowed capital had to necessarily be excluded and the same has not to be taken into consideration while working out the capital .....
Tag this Judgment!Court : Allahabad
Reported in : [2004]141TAXMAN545(All)
..... the learned counsel for the revenue submitted that as an amendment was made under section 80j of the act by the finance act, 1980 which came into force from 21-8-1980, but was retrospective in operation, the order of the assessing authority ought to have excluded the borrowed capital for working out the ..... the amendments in the relevant provision of the section were made by the finance act, 1980, ..... by the said finance act the retrospective amendment was made in the relevant provisions of the act. ..... of the retrospective amendment it would be treated that for the assessment year in question, borrowed capital had to be excluded while working the capital employed in a business under section 80j of the act and therefore the order passed by the commissioner under section 263 was perfectly ..... after the retrospective amendment the provisions of the statute exclude the borrowed capital from being taken into consideration for working out capital employed under section 80j of the act. ..... the circumstances of the case the tribunal was correct in holding that since the event of retrospective amendment made in the section 80j had occurred after the framing of the assessment on 13-2-1980, the commissioner could not validly assume jurisdiction under section 263 of the act2. ..... as a result of retrospective amendment made in the aforesaid section the position under law would be that during the assessment year in question borrowed capital had to necessarily excluded and the same has not to be taken into .....
Tag this Judgment!Court : Allahabad
Reported in : (2006)198CTR(All)378
..... section 35b was amended by insertion of section 35b(1a) by the finance act, 1978 with effect from 1-4-1978 and was omitted with effect from 1-4-1980. ..... a manufacturer or processor who does not own any plant and machinery up to the prescribed limit would not be entitled to claim weighted deduction under section 35b of the act, in view of clause (1a) of section 35b, as it stood by the finance act, 1978.10. ..... section 2(7) of the finance act, 1966, inter alia, reads as follows:'for the purposes of this section and the first schedule. ..... the income tax appellate tribunal, delhi, at the instance of the assessee has referred the following question of law under section 256(1) of the income tax act, 1961 (hereinafter referred to as 'the act') for opinion to this court:'whether on the facts and in the circumstances of the case, the appellate tribunal was justified in law in holding that it was obligatory for the assessee to have machinery and plant and ..... the interpretation of 'industrial company' as contained in the first schedule of the finance act, 1966 was involved. ..... this court held with reference to the section 5(1)(xxxii) of the wealth tax act that an undertaking in order to satisfy the test of 'industrial undertaking' must be (i) engaged in the business of generation or distribution of electricity or any other form of power or (ii) in the constructions of ships or (iii) in the manufacture of process of goods or (iv) in mining. .....
Tag this Judgment!Court : Allahabad
Reported in : [1970]77ITR974(All)
..... the charging section of the income-tax act, 1922, namely, section 3, adopts the rate or rates prescribed in the corresponding finance act and it is subject to the other provisions of the act including section 67b which, as already noticed, lays down that, if the finance act has not been passed till the 1st day of april, the rates prescribed in the bill or in the finance act of the preceding year, whichever is more favourable to the assessee, will be applicable ..... if, however, the finance act had not been passed by the last day of the accounting year the rate could be ascertained by reference to section 67b of the indian income-tax act, 1922, and a reasonable estimate of the tax payable could be easily ..... the object was to claim the amount as a deduction in the computation of the 'net wealth' of the assessee under the newly introduced wealth-tax act, 1957, when the wealth-tax act was first introduced, a company was one of the assessable entities and section 3 of the act, which is the charging section imposed the liability to wealth-tax on the 'net wealth' of every assesses mentioned therein on the corresponding valuation date, that is, the last day of the ..... he then was), speaking for the majority, said that the liability was created by the charging section and the rate of tax was prescribed by the finance act. ..... sales tax (amendment) act (19 of 1956),incorporating the provisions of the ordinance and stating that the amendment shall be deemed to have effect on and from 1st april, 1956 .....
Tag this Judgment!Court : Allahabad
Reported in : [1986]17ITD906(NULL)
..... therefore, reasonable to infer that the intention of parliament is that the explanation should apply only to cases governed by clause (c) of section 271(1) as it stands after its amendment by the finance act. ..... to us to be clear that the two changes introduced in section 271(2) of the act by the finance act, 1964, consisting of the deletion of the word deliberately which occurred in clause (c) and the insertion of the explanation at the end of the said sub-section are very closely interconnected and they form integral parts of one scheme ..... first contended by the departmental representative that the commissioner (appeals) in deciding the appeals did not take into consideration the explanation to section 271(1)(c) as it stood before and after its amendment by the taxation laws (amendment) act, 1975, with effect from 1-4-1976. ..... apart from that, in deciding the effect of the explanation to section 271(1)(c) before its amendment in 1976, the kerala high court laid down in the case of ..... was of the opinion that the revised returns were filed after certain complaints were received against the assessee by the department and, as such initiated proceedings under section 271(1)(c) of the act in respect of each of the assessment years for furnishing inaccurate particulars of income and concealment thereof. ..... 5,200 and assessment under section 143(1) of the income-tax act, 1981 (the act) was made on the same ..... the explanation to section 271(1) of the act only prescribes a rule of evidence relating to .....
Tag this Judgment!Court : Allahabad
Reported in : [1973]90ITR479(All)
..... . what he is saying is that a notice under section 34(1)(a), as amended by the finance act of 1956, could have been issued under that act in respect of the assessment year 1948-49, till april i, 1957, and when the finance act of 1956 came into force, he came to be governed by the 8 year period prescribed by the act as amended by the 1956 act and not the 8 year period prescribed by the act as it existed before the amendments made in 1956 ..... . accordingly, the assessee's ground of attack is that the 8 years prescribed by section 34, as amended after 1956, have expired and not that 8 years prescribed by section 34 before its amendment by the finance act, 1956, have expired ..... . but, in our view, the section does not save such notices from attack on all grounds whatsoever; the only ground which cannot be taken to attack the validity of the notice is that at the time the notice was issued the period prescribed under section 34(1)(a), as in force before its amendment by section 18 of the finance act, 1956, had expired ..... . sub-section (4) is in these words : ' (4) a notice under clause (a) of sub-section (1) may be issued at any time notwithstanding that at the time of the issue of the notice the period of eight years specified in that sub-section before its amendment by clause (a) of section 18 of the finance act, 1956 (18 of 1956), had expired in respect of the year to which the notice relates.' 11 .....
Tag this Judgment!Court : Allahabad
Reported in : [1966]62ITR262(All)
..... for the assessment year 1948-49 was possible to be made under the indian income-tax act as the indian income-tax act and the finance act of 1949 were only made applicable in respect of merged states as from the 1st april, 1949, and (2) that the central board of revenue or the commissioner of income-tax had no authority under section 2(11)(i)(b) of the income-tax act to issue any direction in respect of any previous year ending prior to the 1st april ..... as a consequence of the merger, the central taxation laws were made operative in this state by the taxation laws (extension to merged states and amendment) act, 1949, hereinafter referred to as the taxation laws act, 1949.after the merger, for the relevant assessment year 1948-49, the assessee returned an income of rs. ..... the two questions referred are :'(1) whether, on a true interpretation of the provisions of section 3(2) of the taxation laws (extension to merged states and amendment) act, 1949, and para. ..... section 3(1) of the taxation laws (extension to merged states and amendment) act, 1949, hereinafter referred to as the taxation laws act, 1949, extends certain taxation laws to merged states. .....
Tag this Judgment!Court : Allahabad
Reported in : [2000]246ITR209(All); [2001]118TAXMAN71(All)
..... whether, on the facts and in the circumstances of the case and on a proper construction of section 43b read with explanation 2 as added by the finance act, 1989, the appellate tribunal was justified in holding that the said explanation will apply retrospectively with effect from april 1, 1984 ?3. ..... the supreme court has also held in the said case that explanation 2 as added by the finance act, 1989, was retrospective in nature. ..... the income-tax appellate tribunal, allahabad bench, under section 256(1) of the income-tax act, 1961, has stated a case and referred the following questions stated to be of law and to arise out of its order dated august 9, 1989, passed in i. t. a. no. ..... whether the tribunal was right in holding that the jurisdiction under section 263 was rightly and legally invoked by the commissioner of income-tax ?2. ..... 3,21,172 which had been paid by the assessee before filing its return of income for the assessment year 1985-86 could not be disallowed under section 43b of the income-tax act, 1961. ..... cit : [1997]224itr677(sc) , the supreme court held that the proviso is of a clarificatory nature for giving effect to the true intention of section 43b and is, therefore, retrospective in operation. ..... 3,22,791 and we hold that the commissioner could have exercised jurisdiction under section 263 only in respect of a sum of rs. ..... 1 we hold that the tribunal was not right in holding that the commissioner had rightly exercised jurisdiction under section 263 in respect of a sum of rs. .....
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