Court : Andhra Pradesh
Reported in : [1969]74ITR247(AP)
..... ' (income tax act, 1952, section 156 as amended by the finance, act, 1965, section 10 {and schedule ..... paragraph 1(1) of schedule 2 to the finance act, 1956, provides inter alia :'tax under case i, ii or iii shall, except as hereinafter mentioned, be chargeable on the full amount of the emoluments falling under that case, subject to such deductions only as may be authorised by the income tax acts, and the expression only as may be authorised by the income tax acts, and the expression emoluments shall include all salaries, fees, wages, ..... appellants emoluments for income tax purposes under schedule e and (2) was the actual cost of the journeys deductible from his emoluments under the relevant rule.schedule e of the income tax act, 1952, provides as follows : 'tax under this schedule shall be charged in respect of any office or employment on emoluments therefrom which fall under' cases i, ii and iii. ..... the appointment has been renewed from year to year, and in the case stated it was found that he was to act as obstetrician and anaesthetist, and that he was on stand-by duty at specified times in respect of each activity during which period he was required to ..... nor does section 1 of the 1952 act which contemplates that income tax will be imposed on ..... but the act was a consolidation, and fresh consideration cannot, i think, have been given to the subject since the short re-enacted section refers only to one express expense and that is the 'keeping and maintaining a horse to enable him to .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1975]101ITR457(SC)
..... the high court found that in view of the notice of demand the liability of the assessee to pay the arrears arose only after the expiry of 35 days and this period had expired before the finance act, 1965, amending section 220(2) of the act and, therefore, the revenue had no jurisdiction to demand payment of the arrears at the rate of 6% interest. ..... soon after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965, by which the rate of interest was increased from 4% to 6% per annum. ..... in the instant case the finance act of 1965 became effective from april 1, 1965, and the income-tax officer in his letter dated january 10, 1966, to the assesses had merely given effect to the legal provisions of the finance act by insisting that in view of the variation in the rate of interest under sub-section (2) of section 220 the assessee would have to pay interest at the rate of 6% per annum only from april 1, 1965. ..... the moment the finance act, 1965, came into operation and the rate of interest in sub-section (2) of section 220 was increased from 4% to 6% per annum, any order passed by the income-tax officer would automatically operate in accordance with the finance act with effect from april 1, 1965. ..... the income-tax officer pointed out that this course was necessitated in view of the amendment made by the finance act, 1965. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1976SC43; (1975)2SCC721
..... the high court found that in view of the notice of demand the liability of the assessee to pay the arrears arose only after the expiry of 35 days and this period had expired before the finance act, 1965 amending section 220(2) of the act and therefore the revenue had no jurisdiction to demand payment of the arrears at the rate of 6 per cent interest. ..... 1,34,76,000 by march 15, 1968,soon after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965 by which the rate of interest was increased from 4 % to 6 % per annum. ..... in the instant case the finance act of 1965 became effective from april 1, 1965 and the income-tax officer in his letter dated january 10, 1966, to the assessee had merely given effect to the legal provisions of the finance act by insisting that in view of the variation in the rate of interest under sub-section (2) of section 220 the assessee would have to pay interest at the rate of 6 per cent per annum only from april 1, 1965. ..... the moment the finance act, 1965 came into operation and the rate of interest in sub-section (2) of section 220 was increased from 4 percent to 6 per cent per annum, any order passed by the income-tax officer would automatically operate in accordance with the finance act with effect from april 1, 1965. ..... the income-tax officer pointed out that this course was necessitated in view of the amendment made by the finance act, 1965. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 1995(1)ALT288; 1995(77)ELT544(AP)
..... after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965, by which the rate of interest was increased from 4% to 6% per annum. ..... consequently, a notice of demand under section 156 of the act was served on the respondent demanding interest at the rate of 6% per annum pursuant to the amendment issued under section 220(2) of the act. ..... when the legislature has laid down the procedure in the 1961 act for claims being preferred by third parties and their adjudication by the departmental authorities under section 132(5) or section 132(11) of the income-tax act, 1961, the legislature cannot be said to be unaware of the possibility of consequential claims for interest by such third parties in cases of refund. ..... the assessee further undertook to pay interest on the arrears at the rate of 5% per annum, even though under sub-section (2) of section 220 of the income-tax act, 1961, it was required to pay interest at the rate of 4% only. ..... in the present case the order under section 70 of the act was made after the assessed amount of duty was paid up and as such nothing was due on the date the order was made on which the interest could be levied and as such section 70 of the estate duty act, 1953, in terms did not apply. ..... but levy of penal interest under section 139 or section 215 of the act was merely in the regular assessment order.' 38. .....
Tag this Judgment!Court : Kolkata
Reported in : (1982)29CTR(Cal)64,[1983]141ITR531(Cal)
..... by an amendment introduced retrospectively by section 6 of the 2nd finance act, 1965, a proviso was added which stipulates as follows :'provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of subsection (1) of section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub-clauses (a), (b) and (c) of clause (vi) of sub-section (2) of section 10 of the indian income-tax act, 1922 (xi of 1922), where such depreciation was not deductible in determining the written down value for the purposes of the ..... by the amendments made by the income-tax (amendment) act, 1946, the finance act, 1955, and the finance act, 1956, certain initial depreciation was allowed in respect of bnildings newly erected or the machinery and plant newly installed. ..... all these new forms of allowances came into force later and particularly the allowance of initial depreciation was introduced by the indian income-tax (amendment) act (8 of 1946), but the words in section 10(5) denning ' written down value ' to include in the case of assets acquired before the previous year, all depreciation actually allowed to an assessee continued to operate throughout. ..... the purpose of this amendment has been explained in the notes on clauses of the finance act no. .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2006(4)Raj2970; 2006(4)WLC747
..... before amendment, commencement of period of six years within which action under section 74 could be commenced started from the date of alleged act or omission of the person concerned whereas under the new amended provision, the starting point was made depending upon the date of knowledge of the registrar about such alleged act or omission in respect of which action under section 74 of the act of 1965 is desired to be taken.23. ..... on close scrutiny, we find that the principle stated in sc paraser's case (supra) was in the background of income tax act and sovereign power of levy and collection of taxes with the legislative history of amendments in section 34 and keeping in view the fact that the amendment brought in section 34 of income tax act, 1972 came into effect retrospectively, saving the proceedings initiated under unamended provision, cannot be extended to present case.16. ..... assistant registrar of cooperative societies vide impugned order dated 19.2.1990, after holding the inquiry under section 74 of the act of 1965 against the petitioner-appellant directed recovery of rs. ..... before coming to this conclusien the nature of the liability under income tax was considered in the said judgment and it was held that:under the scheme of the income-tax act, a liability to pay tax is incurred when according to finance act in force the amount of income, profits or gains is above the exempted limit. .....
Tag this Judgment!Court : Delhi
Reported in : (2007)210CTR(Del)116; 2007(97)DRJ317; [2008]297ITR125(Delhi)
..... amendments brought about by the finance act 2002, section 132b(4)(b) envisaged payment of simple interest at the rate of 15 per cent per annum on the retained money computed 'from the date immediately following the expiry of six months from the order under sub- section (5) of section ..... ) was previously stipulated in section 132(5) of the it act until its omission by the finance act 2002 with effect from 1.6. ..... further, section 153b prescribes a period of two years for completion of assessment or reassessment by the assessing officer which vide the finance act, 2006 has been further reduced to a period of 21 months in those cases where the last of the authorisations for search under section 132 was executed during the financial year commencing on ..... may have been for the reason that by virtue of the taxation laws (amendment) ordinance, 2003, subsequently cemented by the taxation laws (amendment) act, 2003, the rate of interest stood reduced to 0.5 per cent per month ..... with respect to the payment of interest, it has been stated in the affidavit by the assistant commissioner that as per the provisions of section 132b(4) of the it act, interest was paid on the sum of rs.17,33,529/- as follows: (a) 01-11-02 to 31.08.03 (10 months) at the rate of 0.66 per cent per month = rs.1,14,411/-; (b) 01-09-03 to 30-07-04 (11 months) at the rate of 0.5 per cent per ..... reduced by parliament, since section 132b as originally inserted into the act by income tax (amendment) act, 1965 specified the period to .....
Tag this Judgment!Court : Gujarat
Reported in : [1981]128ITR486(Guj)
..... that there was no dispute that the assessee's case was covered by the relevant section of the finance act of 1965 and the assessee would have been entitled to rebate at two per cent. ..... the proceeding or any other particulars before him at the stage of the original assessment indicated that the assessee was entitled to such relief under the provisions of the relevant finance act, 1965, so far as the order under reference is concerned. ..... 2(5)(a)(iii) of the finance act of 1964 or of the finance act of 1965, even though no claim was made for that relief by the assessee at the stage of those ..... the finance act, 1965, and the relief which claimed before the aac was claimed for the first time, no claim having been made in that behalf before the ito under the provisions of the finance act, of 1965. ..... the finance act of 1965, being the act 10 of 1965, under ..... by the assessee or the assessment order of the income-tax officer with a view to find out new sources of income and the power of enhancement under section 31(3) of the act is restricted to the sources of income which have been the subject-matter of consideration by the income-tax officer from the point of view of taxability. ..... the finance act of ..... the finance act of 1964 ..... the relevant finance act. ..... act of 1965 ..... against the order of assessment for assessment years 1964-65 and 1965-66, the assessee preferred appeals to the aac and in the course of those appeals it was claimed that the assessee was entitled to rebate at ..... act, 1961, being a section .....
Tag this Judgment!Court : Gujarat
Reported in : (1981)25CTR(Guj)263
..... 1976 : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in rejecting the assessee's claim for deduction under section 2(5)(a)(i) of the finance act, 1965, on account of export of cloth out of india during the accounting year ending on 31st march, 1965 ?' 10. ..... these provisions contained in finance act, 1964, and finance act, 1965 are in identical terms except for the year mentioned in clause (a) of ..... provision contained in the finance act, 1964, the year mentioned in 1964, while in the finance act, 1965 the year mentioned is 1965. ..... 1976 : 'whether, on the facts and circumstances of the case, the tribunal was justified in rejecting the assessee's claim for deduction under section (2)(a)(i) of the finance act, 1964, on account of export of cloth out of india during the accounting year ending on 31st march, 1964 ? ..... - (1) where the total income of an assessee referred to in sub-clause (i) of clause (a) of sub-section (5) of section 2 of the finance act, 1964 (5 of 1964), includes any profits and gains derived from the export of any goods or merchandise out of india, the amount of such profits and gains in respect of which deduction of income-tax and super ..... the finance act, 1965, for the assessment year 1965-66. ..... the finance act, 1965 : '2 ..... finance act, 1965. ..... the finance act, 1965. 5 ..... finance act, 1965. ..... , i would uphold the finding of the revenue authorities that the assessee is not entitled to any relief under section 2(5)(i) of the finance act, 1963.' 7. .....
Tag this Judgment!Court : Allahabad
Reported in : [1971]80ITR693(All)
..... --any search of a building or place by an inspecting assistant commissioner or income-tax officer purported to have been made in pursuance of sub-section (1) of section 132 of the principal act before the commencement of this act shall be deemed to have been made in accordance with the provisions of that sub-section as amended by this act as if those provisions were in force on the day the search was made and shall not be called in question before any court of law or any other authority merely on the ground- (i) that ..... the principal act referred to is the income-tax act, 1961, and there can be no dispute, we think, that the search made in june, 1963, was a search under section 132(1) of that act, section 6 of the amendment act, 1965, is a curative or validating provision and should, therefore, be comprehensively construed. ..... of the amendment (act, 1965, the search must be deemed to be a search under the said section 132(1), there is little difficulty in holding that section 132(8) is attracted to the present account books and documents.9. ..... accordingly, the searches made in june, 1963, must now be deemed to have been made in accordance with the new section 132(1) as brought in by the amendment act, 1965. ..... ' section 6 of the amendment act, 1965, which appears to us relevant, declared :'6. ..... thereafter, parliament enacted the finance act of 1964 (no. ..... and the provision which was brought into the act from that date by the finance. .....
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