Judgment Search Results Home > Cases Phrase: finance act 1965 section 13 amendment of section 40 Page 5 of about 9,445 results (0.157 seconds)

Smith (inspector of Taxes) Vs. Schofield.

Court : Kolkata

Reported in : [1994]209ITR572(Cal)

..... , i add my own observations, although the appeal was presented to us as raising the sole question whether the indexation allowance provided for by sections 86 and 87 of the finance act 1982, as amended by the finance act 1985, was to be taken into account before or after the application of the time-apportionment provisions of paragraph 11 of schedule 5 to the capital gains tax act 1979 both statutory provisions have a legislative history and were originally set in different contexts to those in which they have to be construed after ..... quoted market value on that day was to be assumed to be the value at which the taxpayer had acquired the, but if the market value when he actually acquired the securities was higher than that on 6 april 1965, so that the assumption that the asset had been acquired at the later value resulted in a greater gain accruing to the taxpayer or a gain where there would otherwise be a loss, or if on that assumption a loss would accrue where ..... where the form of section 28 of the act of 1979 which reproduces, but not in identical terms, the provisions found in section 22(9) and (10) of the finance act 1965 was dictated by changes within the act of 1979, i have been unable to discern, but i see no reason to assume that any change in the basic principle that only gains accruing after 6 april 1965 were to be chargeable to tax was intended. .....

T.K. Roy, Vs. Commissioner of Wealth-tax

Court : Guwahati

..... [1975]101itr457(sc) , the supreme court observed as follows (page 463) :' furthermore, it is the finance act which fixes the rate of interest payable under sub-section (2) of section 220 and it is common knowledge that every year the finance act makes important amendments in the rates payable under the various provisions of the i.t ..... same reason he submits that the assessee is liable to pay penalty under section 18 as amended by the amending act of 1964 up to march 31,1969, for the periods 1965-66, 1966-67, 1967-68 and 1968-69, and thereafter, under section 18 as amended by the 1969 amendment ..... that the penalty leviable for the period from april 1, 1965, to march 31, 1969, was under section 18(1)(a)(i) of the act as amended by the 1964 amendment and for the period after april 1, 1969, under section 18(1)(a)(i) as amended by the 1969 amendment.8. ..... section 18 of the act was amended by the 1964 amendment and the section as amended was given effect from april 1, 1965 ..... further held that the amount leviable for the period from april 1/1965, to march 31, 1969, was under section 18(1)(a)(i) of the acs as amended by the 1964 amendment and for the period after april 1, 1969, under section 18(1)(a)(ii) as amended by the 1969 amendment.66 ..... same reasons, he submits, the assessee is liable to pay penalty under section 18 as amended by the amending act of 1964 up to march 31, 1969, for the periods 1965-66, 1966-67, 1967-68 and 1968-69, and under section 18 as amended by the 1969 amendment thereafter. .....

Tata Teleservices Vs. Union of India

Court : Gujarat

..... retrospectively and therefore, no order under section 201(i) of the act can be passed for which limitation had already expired prior to amended section 201(3) as amended by finance act ..... aforesaid financial years, limitation under section 201(3)(i) of the act had already expired on 31/3/2011 and 31/3/2012, respectively, much prior to the amendment in section 201 as amended by finance act, 2014 and therefore, as such a right has been accrued in favour of the assessee and considering the fact that wherever legislature wanted to give retrospective effect so specifically provided while amending section 201(3) (ii) of the act as was amended by finance act, 2012 with retrospective effect from 1/4/2010, it is to be held that section 201(3), as amended by finance act no.2 of 2014 shall not be applicable ..... , [1964-53 itr 231 = air 1965 sc 171], the hon'ble supreme court in para 5 and 6 has observed and held as under :- ..... , reported in air 1965 sc 720 (para 12 and 13) as well as in the case of ..... 1964-53 itr 231= (air 1965 sc 171). .....

Badshah Khan Vs. Commissioner of Wealth-tax

Court : Guwahati

..... act, 1957: 'whether, on the, facts and in the circumstances of the case, the tribunal was right in holding that the calculation of penalty up to march 31,1969, was to be made under section 18(1)(i) of the wealth-tax act, 1957, as it originally stood from april 1, 1965, to march 31, 1969, as substituted with effect from april 1, 1965, by section 18 of the wealth-tax (amendment) act, 1964, and thereafter under section 18(1)(i) as substituted by section 24 of the finance act, 1969 ' sections 14, 15 and 18 of the w.t. ..... the aac held that the petitioner would be governed by the then existing law prevalent on june 30, 1969, and the provision of the amendment brought by the finance act from april 1, 1965, could not be applied. ..... however, the aac held that the amended provisions of the act brought in by the finance act, 1969, would not apply and the penalty should be on the basis of the law that existed in the assessment year and accordingly directed that the penalty should be calculated at the rate of 2% of the net assessed ..... ) act, 1964, and again amended by the finance act, 1969, which came into force from april 1, 1969. ..... act, 1957, as it originally stood but it went wrong in holding that the calculation of penalty from april 1, 1969, should be under section 18(1)(i) as substituted by the finance act, 1969. .....

Renusagar Power Co. Ltd. Vs. Union of India, Etc.

Court : Delhi

Reported in : ILR1981Delhi102; [1982]137ITR97(Delhi)

..... (iv)(c) of sub-section (15) of section 10 of the act prior to its amendment by the finance act, 1964 w.e.f ..... freight charges were not included in the above said amount, the petitioner pointed out this fact, as a result of .which government of india in the ministry of finance (department of revenue) passed another order dated june 7, 1967 in continuation of earlier order of september 3, 1965 granting approval under section 10(15)(iv)(c) of the act to the terms of loan amounting to $658,016 (dollars six hundred fifty eight thousands and sixteen only) obtained by the petitioner from m/s. ..... fairness to the counsel for the petitioner, i may notice further arguments that the central government has no power to cancel retrospectively the exemption orders dated september 3, 1965 and june 7, 1967, that there is no inherent power of review in the absence of specific statutory power contained in the act, and that even in administrative proceeding, which involve civil consequences, the doctrine of natural justice is applicable and this has been violated by the central government ..... sorabjee, learned counsel for the petitioner is that the impugned orders proceed, as is apparent, on the basis as if respondents 1 and 2 had after the passing of the two orders; one on september 3, 1965 and the other on june 7, 1967, found out only on re-examination the term regarding the payment of interest in the ministry of industry's letter dated january 2, 1964 and that term provided the rate of interest would be .....

Madura Coats Ltd. Vs. Assistant Collector of Central Excise and ors.

Court : Chennai

Reported in : 1979CENCUS17D; 1978(2)ELT511(Mad)

..... though the hard waste was assessable under item 18 previous to the finance act of 1972, and was assessable under item 18-e after the said act, the exemption notification issued in the year 1965 will continue to have the same effect as it has been issued in respect of the duty payable on hard waste, originally under item 18 but subsequently under item 18-e.8. ..... though the tariff rate in relation to the hard waste was changed under the finance act, the exemption notification issued as regards the duty payable under the unamended provision shall be deemed to continue in force after the finance act of 1972 till a fresh notification was issued after it came into force. ..... was repealed and was re-enacted with modifications as the mines act, 1952; section 29 of the 1923 act empowering the central government to make regulations onsis-tent with the act for specified purposes was re-enacted in the 1952 act as section 57 regulations were made in 1926 under section 29 of the 1923 act; but at the relevant date in 1955, no regulations had been made under section 57 of the 1952 act, so that in 1955 the mines regulations 1926 had not been superseded by any regulations ..... 'the effect of this amendment was that the terene/cotton yarn which was originally covered under item 18 will now fall under the new tariff item 18-e. ..... 18 was amended and a new tariff item no. .....

State of Karnataka Vs. B Govindraj Hegde,

Court : Karnataka

..... ready reference is extracted hereunder: 3 the relevant final notification published on 9.6.2014 is quoted in extenso for ready reference: finance secretariat notification no.fd14pes2013 bangalore, dated:09.06.2014 whereas the draft of the following rules further to amend the karnataka excise (sale of indian and foreign liquor) rules, 1968, was published as required by sub-section (1) of section 71 of the karnataka excise act, 1965 (karnataka act 21 of 1966) in notification no.fd14pes2013dated 20-01-2014 in part-iv-a of the karnataka gazette (extra ordinary) no.fd41dated 20-01-2014 inviting ..... of the powers conferred by section 71 of the karnataka excise act, 1965 (karnataka act 21 of 1966), the government of karnataka hereby makes the following rules, namely:- and whereas, objections and now, therefore, rules1 title and commencement:- (1) these rules may be called the karnataka excise (sale of indian and foreign liquor) (amendment) rules, 2014. ..... section 71(e) of the karnataka excise act, 1965, which provides for the power of the state to make rules for carrying out the purposes of the act reads as ..... facts of the case appear to be that in the state of karnataka, there is karnataka excise act, 1965 (hereinafter referred to as the act for the sake of convenience) which came into force on 30th september 1967. ..... the license shall be bound by the provisions of the karnataka excise act, 1965, and any general specific rules prescribed or which may from time to time be prescribed there .....

J.K. Iron and Steel Co. Ltd. Vs. the Income Tax Officer and anr.

Court : Allahabad

Reported in : AIR1967All248; [1967]65ITR386(All)

..... the learned advocate general appearing for the petitioner has stressed that section 23-a after its amendment by the finance act 1955, was a charging section and an order passed thereunder was an order of assessment to which section 34 (3) was attracted section 34 (3) provides that no order of assessment shall be made after the expiry of four years from the end of the assessment year no such order could hence be passed for the assessment year 1956-57, after 31st march ..... the view taken by the gujarat high court in (1964) 64 itr 271: air 1965 guj 105 (supra) that the unamended section 23-a was a fiscal provision and not a penal provision is, with respect, not in accord with the law declared by the supreme court.16. ..... it is stated that at the hearing held on 30-9-1964, it appeared that orders under section 23-a were likely to be passed by the 5th or 6th october, 1965 and that as the proceedings, being barred by time, are without jurisdiction, they are liable to be quashed. ..... from the counter-affidavit filed by the income-tax officer it appears that he passed the order under section 28-a on 5-10-1965 before he had received intimation of the interim order of this court staying further proceedings. ..... , civil appeal no 807 of 1963, dated 22-3-1965: (reported in : [1965]57itr176(sc) the supreme court again analysed the nature and effect of section 23-a. .....

Commissioner of Income-tax Vs. Aspinwall and Co. Ltd. and anr.

Court : Kerala

Reported in : [1975]98ITR291(Ker)

..... according to the tribunal, the expression 'the public' in section 2, clause (18)(b)(i) of the income-tax act, as it stood prior to the amendment by the finance act of 1965, took within its purview a company in which the public were substantially interested and what was done by the finance act of 1965 was only to clarify that position and not to effect any change in the pre-existing law. ..... in 1965, section 2(18) was again amended thus :'2. ..... this definition of a company in which the public were substantially interested was again amended by the finance act of 1957. ..... the learned counsel for the department relied on the explanatory notes to the clauses of the finance bill of 1965 and the speech of the honourable minister who piloted the bill in parliament and argued that, the provision in section 2(18) before its amendment did not take in a company like the assessee-company. ..... we do not think that this is the proper way to understand and interpret section 2(18) before its 1965 amendment statements by ministers and explanatory notes on the clauses of the bill cannot be used as aids to the construction of the enactment. ..... section 2(18)(b)(b)(iii) therefore removes all doubts in understanding the scope of the expression ' the public ' in section 2(18)(b)(b)(i) before the 1965 amendment. ..... the 1965 amendment by expanding the expression 'the public' in section 2(18)(b)(b)(i)(c) has, according to us, only clarified the pre-existing position and it does not make any change in the law.20. .....

B. Govindraj Hegde Vs. State of Karnataka, Department of Finance and E ...

Court : Karnataka

..... draft of the following rules further to amend the karnataka excise (sale of indian and foreign liquor) rules, 1968, was published as required by sub-section (1) of section 71 of the karnataka excise act, 1965 (karnataka act 21 of 1966) in notification no. ..... and restaurants association and ors (2013) 8 scc 519 dealing with the right of dance performers in hotels and bars which was banned by rules amended by the bombay police act, 1951 and such an amendment of s.33 a and b effected by the amendment act of 2005 was struck down by the hon ble supreme court with the following relevant observations: 108: the high court has held that the classification ..... , in exercise of the powers conferred by section 71 of the karnataka excise act, 1965 (karnataka act 21 of 1966), the government of karnataka hereby ..... the amendment in the rules is in conflict with the existing rules and regulatory provisions enacted in the karnataka excise act, 1965 and other ..... hon ble supreme court in the case of r chandevarappa and ors vs state of karnataka (1995) 6 scc 309 and upholding the provisions of the sc/st (prohibition on transfer of certain lands) act, 1978 enacted by the state of karnataka and karnataka revenue code, the court held that the prohibitory clause is absolute in terms and stipulated to effectuate the constitutional policy and therefore, the alienation of ..... sd/- under secretary to government (in-charge) finance department (excise) 4. ..... extenso for ready reference:finance secretariatnotificationno. .....