Court : Chennai
Reported in : [1976]102ITR264(Mad)
..... the tribunal held that the rate of additional super-tax should be fixed with reference to section 104 as amended by the finance act, 1965, at twenty-five per cent, and not at thirty-seven per cent, under the unamended ..... income-tax officer that the proper provision to be applied was section 104 of the income-tax act, 1961, as amended by the finance act, 1965, and in force from april 1, 1965, and not the provision as it was on april 1, ..... section 104(1), as in force during the assessment year 1964-65, provided for the levy of additional super-tax at thirty-seven per cent, on the distributable income as reduced by the amount of dividends actually distributed, while the section, as amended by the finance act 10 of 1965, which came into force from april i, 1965, fixed only twenty-five per ..... although an order under section 104 could be passed only after april 1, 1965, it was an order in respect of the assessment year 1964-65, and that, therefore, the correct provision to be applied was section 104 as it stood prior to the amendment made by the finance act, 1965. ..... income-tax officer, : [1972]83itr217(sc) while considering the scope of an order under section 23a of the indian income-tax act, 1922, corresponding to section 104 of the income-tax act, 1961, the supreme court observed :'in our view an order under section 23a does not assess income, profits or gains as such but what it does is to levy super-tax on a certain ..... section 17 was amended by the gift-tax (amendment) act, 1962, which came .....
Tag this Judgment!Court : Chennai
Reported in : [1979]120ITR132(Mad)
..... section 271(1)(c) had undergone a modification or amendment as made by section 40 of the finance act of 1964 with effect from april ..... section 18 was again amended by section 32 of the finance act of 1968 with effect from april ..... the facts and in the circumstances of the case, the appellate tribunal was right in holding that the law to be applied to determine the quantum of penalty leviable under the provisions of section 18(1)(c) of the wealth-tax act in the present case was the law as obtaining on november 9, 1964, when the original return was filed ? 2. ..... dealing with this submission, the supreme court pointed out that when once proceedings under section 34 were taken to be validly initiated, the jurisdiction of the ito could not be confined only to that portion of the income, and at page 380, it was observed :'it is therefore, manifest that once assessment is reopened by issuing a notice under sub-section (2) of section 22, the previous under-assessment is set aside and the whole assessment proceedings start ..... was amended by central act 46 of 1964 with effect from april 1, 1965. ..... it may be seen that this provision came into force only from april 1, 1965, so that as on the date on which the original return was submitted, this provision fixing a statutory minimum for the levy of penalty was not ..... act and reopened the assessment made earlier on october 27, 1965, wherein there was a deduction ..... as originally payable under the assessment made on 27th october, 1965, was rs. ..... 27th october, 1965. .....
Tag this Judgment!Court : Chennai
Reported in : (1995)124CTR(Mad)298; [1995]217ITR213(Mad)
..... included in the assessment was the net dividend income received by the assessee after deduction of income-tax and, as, according to hi, the gross dividend was includible under section 5(1)(c) of the income-tax act, 1961 (hereinafter referred to as 'the act'), especially in view of the amendment brought about by the finance act, 1965, to the united kingdom income-tax act, 1952, under which u. k. ..... act, by reason of the amendment brought about by the finance act of 1965 ..... income-tax act, 1952, by the finance act, 1965, reference was made to simon's ..... finance act, 1965, amounts deducted by way of tax from the dividends distributed at the standard rates were allowed to be retained by the companies, but after 1965, the amounts had ..... of relief against double taxation, it is income which has been subjected to tax in a foreign country in which it has arisen and irrespective of the fact that there is no provision comparable to section 18(5) of the act, yet the payment of tax by the company operates as a relief to the shareholder and on that account alone the dividend income is not chargeable to tax in the united kingdom. ..... we are, therefore, of the view that though the decision of the supreme court referred to above dealt with a case of the availability of relief under section 49d of the indian income-tax act, 1922, yet the considerations adverted to therein with reference to the nature of the deduction and with reference to the character of the tax deducted at source being eligible for double .....
Tag this Judgment!Court : Chennai
Reported in : AIR1971Mad61
order:--137. by virtue of the opinions of the majority of the full bench, section 6 of madras act xii of 1966 must be struck down, as violative of articles 19(1) and 14 of the constitution of india. it follows that all the proceedings before us under article 226 of the constitution will have to be allowed, but there will be no order as to costs.138. petitions allowed.
Tag this Judgment!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. .....
Tag this Judgment!Court : Chennai
Reported in : [1970]77ITR785(Mad)
..... this is sought to be recovered personally from the petitioner under section 178(4) of the income-tax act as amended by the finance act of 1965 with effect from april 1, 1965.2. ..... in our view the amended provision in sub-sections (3) and (4) of section 178 cannot apply to the facts of the present case where the liquidator has been appointed in the year 1962 and notice of such appointment has been given duly and substantially on november 17, 1963, and ..... we are of the view that the amended provisions cannot be invoked to the facts of the present case and that under the provisions, as it stood before the amendment, the petitioner cannot be said to have contravened the provisions of sub-section (3) of section 178. ..... it is true that under section 178(1) to (3), before its amendment, the petitioner is bound, within 30 days of his appointment as liquidator, to give notice to the income-tax officer concerned of such appointment who, in his turn, is bound, within 3 months, to intimate to the liquidator the estimated amount of tax ..... in this case the petitioner has been made liable to pay the amount of tax personally invoking the amended provisions of section 178. ..... this letter dated november 17, 1963, is in substantial compliance with section 178(1) of the act. .....
Tag this Judgment!Court : Chennai
Reported in : [1981]131ITR506(Mad)
..... section 69a was introduced by the finance act of 1964 with effect from april 1, 1964, while section 69b was inserted with effect from april 1, 1965, by the finance act of ..... by the board, in consequence of information in his possession, has reason to believe that--(a) any person to whom a summons under sub-section (1) of section 37 of the indian income-tax act, 1922 (xi of 1922), or under subsection (1) of section 131 of this act, or a notice under sub-section (4) of section 22'of the indian income-tax act, 1922, or under sub-section (l)of section 142 of this act was issued to produce, or cause to be produced, any books of account or other documents has omitted or failed to produce, or cause ..... or other valuable article or thing represents either wholly or partly income or property which has not been or, would not be, disclosed for the purposes of the indian income-tax act, 1922 (xi of 1922), or this act (hereinafter in this section referred to as the undisclosed income or property), then--(a) the director of inspection or the commissioner, as the case may be, may authorise any deputy director of inspection, inspecting assistant ..... amendment of section 132 by the finance act of 1964 and again by central act ..... 1965, which came into force on 15th march, 1965, there were minor amendments ..... to amend the ..... the amendments were necessary in order to plug the loopholes which were discovered from time to time or which were brought to light in the course of the administration of these ..... ( .....
Tag this Judgment!Court : Chennai
Reported in : [1978]112ITR731(Mad)
..... the question arose because section 244 of the income-tax act, 1961, was amended by the finance act of 1965 by raising the rate of ..... submission on behalf of the revenue at whose instance the question has been referred to this court was that since the law has been charged only from april 1, 1965, the interest at the enhanced rate will be payable only from april 1, 1965, on the amounts of tax that were to be refunded pursuant to the order of the appellate assistant commissioner and not from the expiry of six months from ..... was originally provided for and as a result of the amendment to section 244(1) of the income-tax act, it has been reduced to three months. ..... after the change that has been effected on april 1, 1965, if the section is read without bearing the changes in mind, it is clear that ..... was effected from april 1, 1965, the plain meaning conveyed by the wording of the section cannot be abrogated or nullified in order to give a different meaning ..... that the purpose and object is to provide for interest in all cases where refund had not been actually made before april 1, 1965, from the date of expiry of six months from the date of the order referred to in section 240. ..... section 240 imposes an obligation on the income-tax officer to refund the excess tax that had been collected as a result of an order of the appellate assistant commissioner or as a result of any order passed in appeal or other proceedings under this act.the section does not speak of any other order to be passed by the .....
Tag this Judgment!Court : Chennai
Reported in : [1984]148ITR484(Mad)
..... section 85a was introduced by the finance act of 1965. ..... 19,774 was income liable to be assessed for the assessment year 1966-67 (3) whether the tribunal was right in law in holding that the restriction under section 85a of the act does not refer to any income exempt from tax under any particular head and that, therefore, the income-tax officer was correct in restricting the rabbet on donations in the hands of the applicant to 10% of the ..... of the assessee's total income reduced by any portion thereof on which income-tax is not payable under any provision of this act and by any amount in respect of which a deduction of income-tax has been granted under any other provision of this chapter, or one hundred and fifty thousand rupees, whichever is less :.....' 10. ..... the total income as reduced by any portion thereof on which income-tax is not payable under any provision of this act and the total income as reduced by and amount in respect of which a deduction of income-tax has been granted under any other provisi on of this chapter. ..... put into homely metaphor it is this : a judge should ask himself the question how, if the makers of the act had themselves come across this ruck in the texture of it, they would have straightened it out he must then do as they would have done ..... but the legislature has not chosen to amend the words occurring therein, viz. ..... the same act has amended simultaneously s. ..... we are of the view that such a thing is not possible as that would mean an amendment of both chap. .....
Tag this Judgment!Court : Chennai
Reported in : [1977]110ITR131(Mad)
..... after the amendments were made by the finance act, 1965, there was no amendment to the surtax act to keep pace with the changes in the income-tax act. ..... circumstances of the case, the amounts of deductions under section 80e for the assessment years 1966-67 and 1967-6s and under sections 80i and 80j for the assessment year 1968-69 could not be considered as sums not includible in the total income for income-tax assessment and, therefore, would not ..... the assessee appealed to the appellate tribunal for each of these years and the tribunal held that the income-tax officer did not act properly in adjusting the capital proportionate to the profits deducted under the provisions of sections 80e, 80-i and 80j, as the case may be; and it is this order of the tribunal that has given rise to the present reference and the question referred to us runs as follows :' whether) on the facts and in the ..... the short point is whether the part of the income, profits and gains of the company which was the subject of deduction under sections 80e, 80i and 80j, as the case may be, was not includible in the total income as computed under the income-tax act so as to justify the application of rule 4. ..... there is no dispute that the assessee was eligible for the deductions available under sections 80e, 80i and 80j as in force in the relevant years. 3. .....
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