Judgment Search Results Home > Cases Phrase: finance act 1965 section 8 amendment of section 33 Court: himachal pradesh Page 1 of about 18 results (0.058 seconds)

Cit Vs. Himachal Oxygen (P) Ltd.

Court : Himachal Pradesh

..... 4 to section 271(1)(c) as it stood prior to its amendment by the finance act, 2002, requires to be carefully compared with the said explanation as amended by the finance act, 2002 ..... existed prior to 2002, which has been done away with for the first time by the finance act, 2002.in para 58, the apex court held as follows:for the reasons stated above, the appeals are accepted and the impugned judgment is set aside, it is held that prior to its amendment by the finance act, 2002, in the absence of any positive income and no tax being levied, penalty for ..... by the explanation to section 271(1)(c) as it stood prior to its amendment by the finance act, 2002. ..... the comparison of the explanation as it stood before 2002 and after 2002 by itself shows clearly that it is only after the amendment made by the finance act, 2002, that the explanation dealt with the situation of an assessee having returned a loss and where, even after addition of concealed income by the assessee, ..... of these two paras clearly shows that the appellate court has held that after 1976 and prior to the finance act of 2002 coming into force, in the absence of any positive income being assessed, no penalty for concealment ..... further, a plain reading of clause (a) of explanation 4 to section 271 as it stood prior to the 2002 amendment, shows that this clause applied to a situation where an assessee has returned a loss which by reason of the addition of the concealed income thereto by the assessing officer, is converted into a .....

H.P. Tourism Development Corporation Ltd. Vs. Commissioner of Income T ...

Court : Himachal Pradesh

..... it held as follows:we find no merit in these civil appeals filed by the department for the following reasons: firstly, as stated above, section 43-b [main section], which stood inserted by finance act, 1983, with effect from 1st april, 1984, expressly commences with a non-obstante clause, the underlying object being to disallow deductions claimed merely by making a book entry based on merchantile system of accounting. ..... the main question which arises for determination in this appeal is whether omission [deletion] of the second proviso to section 43-b of the income tax act, 1961, by the finance act, 2003, operates with effect from 1st april, 2004, or whether it operated retrospectively with effect from 1st april, 1988? 3. ..... whether in the facts and circumstances of the case the learned tribunal is justified in holding that the amendment which were made by finance act, 2003 w.e.f. ..... it is important to note once again that, by finance act, 2003, not only the second proviso is deleted but even the first proviso is sought to be amended by bringing about an uniformity in tax, duty, cess and fee on the one hand vis-a-vis contributions to welfare funds of employee(s) on the other. ..... however if it is held that this amendment is retrospective in nature then the assessee would be entitled to claim deduction of such amounts.6. .....

Commissioner of Income-tax Vs. Mohan MeakIn Breweries Ltd.

Court : Himachal Pradesh

Reported in : [1991]192ITR134(HP)

..... , in our opinion, has now been set at rest by the legislature introducing explanation 2 to sub-section (2a) of section 37 by the finance act of 1983 which was made effective with retrospective effect from april 1, 1976 ..... the next step in this direction was taken by the finance act of 1970, by inserting sub-section (2b) in section 37, which prohibited deduction of any 'expenditure in the nature of entertainment expenditure' incurred within india by any assessee after february ..... . by the finance act, 1983, explanation 2 was added to sub-section (2a) of section 37 which is to the following effect (see : [1983]142itr26(mad) ..... in computing the profits and gains of business or profession, entertainment expenditure incurred outside india will continue to be admissible as a deduction subject to the limits already provided in the law.'8. clause 10 in the 'notes on clauses' of the finance bill, 1970, by which sub-section (2b) was inserted reads as under (see [1970] 75 itr 73) :'sub-clause (b) seeks to insert a new sub-section (2b) in section 37 of the income-tax act and sub-clause (a) seeks to make a consequential amendment in the explanation to sub-section (2a) of that section ..... by the finance act, 1968, an explanation (which is now explanation 7) was added to sub-section (2a) with effect from april 1, 1968, so as to expand the scope of the restrictions with a view to cover and include the expenses incurred by an assessee granting entertainment allowance to its employees or other persons and .....

M/S. Jaiprakash Associates Limited and Another Vs. State of Himachal P ...

Court : Himachal Pradesh

..... coming to the second question, namely the issuance of notification by the state government in exercise of power under section 7 of the bihar finance act, it is true that issuance of such notifications entitled the industrial units to avail of the incentives and benefits declared by ..... there is no comparable provision in the present case to section 4 in sainik motors case (supra) as to method of collection of tax the various provisions like levy and payment before amendment of section 3 and levy and collection after amendment of that section, composition of tax in section 4, submission of return in section 5, procedure where no payment is made in section 7, fares and freights escaping assessment in section 8, penalty for non payment of tax in section 9 indicate that the tax is on passengers and owners ..... judgment and quashed the orders of the sales tax authorities, inter alia, holding as follows: so long as the petitioners satisfied the eligibility criteria prescribed in the revised incentive rules, as amended from time to time, they would be entitled to the benefits and incentives extended under the rules and the statutory notification is not a must or an essential prerequisite for the petitioners to assert ..... the mode of levy based on 'per payment for admission' prescribed under section 4(1) prior to amendment by act 24 of 1984 necessitated enquiry into the number of shows held at the theatre and the number of persons admitted to a cinema theatre for each show and gave room for .....

Commissioner, Central Excise Vs. Fermenta Pharma Biodil Ltd.

Court : Himachal Pradesh

Reported in : 2008(3)ShimLC290

..... 2 we hold that cegat should have taken into account the amended provisions of section 11-a which had been amended with retrospective effect vide section 10 of the finance act of 2000.the result would be that the period of limitation for which recovery can be made would be one year and not six months as held by the cegat.the references are answered in ..... take up the second question first since we will first have to decide whether the amended provisions of section 11-a as amended by section 10 of the finance act, 2000 have retrospective effect or not.7. ..... disputed that though the amendment was brought in by the finance act of 2000, it was given retrospective effect and was brought into force from 17.11.1980 the date on which section 11-a was introduced.8. ..... 97 of the finance act provided that in sub-section (1) of section 11-a of the act following shall be added:(a) in the opening portion, for the words 'erroneously refunded', the words 'erroneously refunded, whether or not such non-levy or non-payment, short-levy or short payment or erroneous refund, as the case may be, was on the basis of any approval, acceptance or assessment relating to the rate of duty on or valuation of excisable goods under any other provisions of this act or the rules made ..... facts and circumstances of the case ceget ought to have taken into account section 110 of the finance act, 2000 which seeks to validate certain actions taken under section 11-a of the central excise act, 1944 with retrospective effect?2. .....

State Bank of India Officers' Association and Anr. Vs. Deputy General ...

Court : Himachal Pradesh

Reported in : [1993]200ITR517(HP)

..... have noticed earlier that an explanation was added to section 10(14) of the act by the finance act of 1975, with retrospective effect from april 1, ..... [1975]99itr14(bom) , which declared compensatory (city) allowance exempt from income-tax under section 10(14) of the 1961 act, an explanation was added by the finance act of 1975 with retrospective effect from april 1, 1962. ..... dated march 27, 1990, which is as follows (see [1990] 183 itr 3) :'in exercise of the powers conferred by sub-clause (ii) of clause (14) of section 10 of the income-tax act, 1961 (43 of 1961), the central government hereby makes the following amendments, with effect from april 1, 1990, in the notification of the government of india, in the ministry of finance, department of revenue no. s.o. ..... raised does not now survive in view of the amendment to section 2(24) of the income-tax act, 1961, by the direct tax laws (amendment) act, 1989, with retrospective effect from april 1, 1962. ..... again section 10(14) was amended by the direct tax laws (amendment ) act, 1987, with effect from april 1, 1989, and the amended sub-clause reads as follows :'(14) (i) any such special allowance or benefit, not being in the nature of a perquisite within the meaning of clause (2) of section 17, specifically granted to meet expenses wholly, necessarily and exclusively incurred in the performance of the duties of an office or employment of profit as the central government may, by notification in the official gazette, specify, to the extent .....

Chandra Lakshmi Tempered Glass Co. Pvt. Ltd. Vs. Assistant Commissione ...

Court : Himachal Pradesh

Reported in : [1997]225ITR199(HP)

..... this contention overlooks the amendment introduced in section 2(19a) of the income-tax act by the finance act, 1994, with effect from june 1, 1994. ..... once the additional commissioner falls within the definition of the deputy commissioner, then he could exercise the power of the deputy commissioner under section 151(2) of the act, which will necessarily relate to an earlier period than the notice. ..... by the said amendment, the expression 'deputy commissioner' has been defined as a person appointed to be a deputy commissioner or an additional commissioner under sub-section (1) of section 117. ..... the main objection raised is that the sanction of the competent authority, as prescribed by section 151(2) of the act has not been obtained by the first respondent. ..... it is only a notice issued under section 148 of the act and thiscourt will go into the question of jurisdiction only. ..... in this case, the notice under section 148 of the act was issued in 1995. ..... this writ petition is directed against the notice under section 148 of the income-tax act, 1961. ..... the contention of the petitioner's counsel is that the additional commissioner will not be a deputy commissioner, as contemplated by the section and the only authority empowered by the section is the deputy commissioner. .....

Virender Gautam and ors. Vs. State of H.P. and ors.

Court : Himachal Pradesh

Reported in : AIR1992HP53

..... of the state cooperative banks to follow its policies strictly in the matter of financial assistance and reads as under: '....one of the conditions governing the sanction of credit limits to state co-operative bank under section 21 (i)(v) read with section 21(3)(a) of national bank act 1981, for financing production, procurement and marketing activities of primary; apex, regional weavers' co-operative societies is that the rate of interest charged to the societies should not exceed 1.5% per annum or such other rate of interest ..... issued by the national bank for agriculture and rural development (in short nabard) addressed to the registrars cooperative societies in all the states and union territories notifying the policy governing the financial activities under section 21 (1)(v) read with section 21(3)(a) of the national bank for agriculture and rural development act, 1981, for financing, production and marketing activities of weavers societies. ..... annexure p-3 is a show-cause notice dated january 29, 1990, providing an opportunity to the petitioners in accordance with sub-section (1) of section 37 of the act to state their objections, if any, within a period of thirty days, as to why the board be not removed and fresh election held or an administrator appointed to manage the affairs of the bank. ..... 2, before passing the impugned order, to have consulted the financing institutions to which the bank is indebted as provided in sub-section (5) of section 37 of the act. .....

Hem Lata Vs. Himachal Road Transport Corporation and anr.

Court : Himachal Pradesh

..... it will be apposite at this stage to reproduce sub-rule (ii) of rule 19 of the central civil services (classification, control and appeal) rules, 1965, which reads thus: (ii) where the disciplinary authority is satisfied for reasons to be recorded by it in writing that it is not reasonable practicable to hold an inquiry in the manner provided in these rules.9 ..... she has further contended that the respondent-corporation could not resort to section 25-f of the industrial disputes act, 1947 to dispense with the requirement of regular domestic inquiry. ..... it is evident from the phraseology employed in sub-rule (ii) of rule 19 of the central civil services (classification, control and appeal) rules, 1965 as well as article 311 (2) proviso (b) of the constitution of india that they are pari materia. ..... the language employed in rule 19 of the central civil services (classification, control and appeal) rules, 1965 and article 311 of the constitution of india are more or less pari materia. ..... the reasons assigned even in the notice for not holding the inquiry against the petitioner is that the corporation is a public utility as per the provisions of the industrial disputes act, 1947 and it would have avoided to disrupt the operation of the corporation and to avoid inconvenience besides loss of time and finances. ..... he lastly contended that it was neither practicable nor possible to hold an inquiry against the unauthorized absence of the petitioner to avoid inconvenience and loss of time and finances. 4. .....

H.P. State Industrial Development Corporation Ltd. Vs. Cit

Court : Himachal Pradesh

..... whether the tribunal was correct in law by not appreciating and interpreting the amendment in section 36(1)(viii) for calculating 40 per cent of profit from providing long-term finance in place of 40 per cent of total income with effect from 1-4-1996 is only clarificatory in nature and retrospectively applicable ?it appeal no. ..... thereafter, a notice was issued to the assessee under section 154 of the income tax act, in which the assessee was notified that according to the department, the assessee had derived undue benefit because while calculating the deduction, the losses incurred by the assessee in respect of its other business had ..... it would be relevant to refer to section 2(45) and section 5 of the income tax act, 1961:2(45) : total income means the total amount of income referred to in section 5, computed in the manner laid down in this act;'5. ..... shri vishal mohan has urged that under section 154 of the income tax act, only an error apparent on the face of the record can be rectified and he submits that in this case, there were two interpretations possible to the section and, therefore, the mistake, if any, cannot be said to be an error apparent on the face of record. ..... the appellant claimed 40 per cent deduction under section 36(1)(viii) of the income tax act, 1961, amounting to rs. ..... therefore, we are of the considered view that the revenue was entitled to rectify the error which had occurred because it was an error apparent on the record in terms of section 154 of the act.11. .....