Court : Allahabad
Reported in : (2004)191CTR(All)282; [2004]270ITR389(All)
..... 9)--notwithstanding anything contained in the foregoing provisions of this section, where a partial partition has taken place after the 31st day of ..... partition and the provisions of this act shall apply accordingly.explanation--for the purposes of this section 'partial partition' shall have the meaning assigned to it in clause (b) of the explanation to section 171 of the it act.'5. sub-section (9) was also inserted in section 171 of the it act by the same finance act. it reads as follows :'( ..... court :'whether, on the facts and in the circumstances of the case, the tribunal was legally correct in holding that the amended section 20a of the wt act inserted by the finance (no. 2) act, 1980, would not be applicable to the asst. yr. 1979-80 ?'2. briefly stated facts giving rise to the present .....
Tag this Judgment!Court : Allahabad
Reported in : (2002)172CTR(All)151; [2002]255ITR111(All); [2001]119TAXMAN105(All)
..... . the mistaken legal impression of the petitioner in filing the first revised return appeared to be that since the finance act, 1987, which inserted the proviso to section 43b was made effective from april 1, 1988, and was not expressly declared as retrospective the statutory duty of paying sales tax which was paid after the end of the ..... statutory period prescribed, those assessees were prevented from claiming the deduction. this was not intended by section 43b, and, hence, the first proviso was inserted by the finance act, 1987, in order to eliminate the hardship to such assessees.7. the question arose whether the proviso to section 43b was retrospective. most high courts held that it was retrospective, but the delhi high court .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]154TAXMAN157(All)
..... stationery, printing and postage expenses on the ground that they were relatable to section 35b(1)(b)(iii) which was not operative for the assessment year in question, having been omitted by finance (no. 2) act, 1980 and whether the said expenditure was allowable under section 35b(1)(b)(i)?'2. the present reference relates to the assessment year ..... further appeal, the tribunal took the view that these claims were relatable to section 35b(1)(b)(iii) and could not be allowed as sub-clause (iii) was not operative for the assessment year in question, having been omitted by the finance (no. 2) act, 1980. as the provision under which the claim of weighted deduction on the ..... expenditure on stationery, printing and postage could have been allowed has already been omitted by the finance (no. 2) act, 1980, the deduction was not admissible. so far as sub-clause (i) is concerned, we find that the items mentioned herein do not fall under .....
Tag this Judgment!Court : Allahabad
Reported in : AIR2009All36; 2008(4)AWC3653
..... submissions, we are of the considered opinion that the institution is fully covered by the definition of the 'public authority' under section 2(h)(d)(ii) of the act.9. it being substantially financed by the state government, it was obligatory on the part of the institution to provide the information, as asked for, under the ..... institution also receives maintenance grant from time to time from the government. the words used in section 2(h)(d) of the act, which are to be considered are 'substantially financed'. it is also relevant to note that the words 'substantially financed' has further been clarified by two more words directly or indirectly by funds provided by the ..... to the teachers and staff, will not cover the institution under section 2(h) of the act since the institution is not substantially financed. in fact, the authorities under the act have to find out in each and every case whether the institution is substantially financed or not and in the present case no inquiry having been .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1992All239
..... before the loan was disbursed, those who stood guarantee were bound by the agreement. this is the agreement as is referred to in s. 30 of the industrial finance corporation act, 1948. this is the agreement, when breached, gives the ifc1 a special right for the enforcement of its claims under s. 30. one aspect is relevant. ..... of property pledged, mortgaged, hypothecated or assigned to the corporation as security for the loan as advanced. the crucial question is how effective the remedy under section 30 of the act, aforesaid, is to be as the legislature has provided a special remedy, it was intended to be more effective than the ordinary remedy. a special ..... also be under public accountability to explain their indebtedness.15. diligence in recovering debts is, thus a matter of accountability in reference to the context. section 30 of the act only provides a favoured procedure to the ifci to seek recoveries on loans with a summary procedure. the principles on the obligations of an agreement by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1986)15ITD490(All.)
..... he was called upon to bear by reason of his posting at a particular place and that it was exempt under section 10(74).16. the counsel pointed out that subsequently an explanation to the above section was inserted by the finance act, 1975, with retrospective effect from 1-4-1962. this explanation reads as under : explanation : for the removal of ..... (2).11. we are also in agreement with the stand of the assessees that the explanation inserted by the finance act, 1983, with effect from 1-4-1979 to section 9(1)(ii) cannot be applied to an assessment earlier to the assessment year 1979-80. the explanation was specifically made retrospective only from 1-4- ..... , it was an income deemed to accrue or arise in india and was, consequently, taxable under section 5(2)(b), the assessees being non-residents. his second submission was that with the insertion of the explanation to section 9(1)(ii) by the finance act, 1983, any doubt, if there was one, has also been cleared. while admitting that the .....
Tag this Judgment!Court : Allahabad
Reported in : [1971]82ITR495(All)
..... profits 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. similarly, in ..... d in respect of the profits, it was held that the profits of the business was not 'earned income' of the ward within the meaning of section 19(7) of the finance act, 1907.49. it will be noticed that in neither of the two cases, the two capacities of the trustee and beneficiary and guardian and ward were ..... and 'other sources' where personal exertion is responsible for the income.66. unearned income includes 'income from property', 'income from securities' and 'capital gains'. from 1945 the finance acts began to draw a distinction between earned income and unearned income. a lighter burden of tax was laid on earned income and a heavier burden on unearned income.67. turning .....
Tag this Judgment!Court : Allahabad
Reported in : 1993(63)ELT626(All)
..... shall be made after an expiry of two years from the date on which such amendments came into force.13. 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 ..... own motion entertain revision and grant relief.19. 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 .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]280ITR385(All)
..... tribunal observed as follows :... the amendments in the relevant provision of the section were made by the finance (no. 2) act, 1980, which came into force from august 21, 1980. it is no doubt true that by the said finance act the retrospective amendment was made in the relevant provisions of the act. however, since this event had occurred after the framing of the assessment on ..... the revenue. nobody has put in appearance on behalf of the respondent-assessee.5. learned counsel for the revenue submitted that as an amendment was made under section 80j of the act by the finance (no. 2) act, 1980, which came into force from august 21, 1980, but was retrospective in operation, the order of the assessing authority ought to have excluded the borrowed .....
Tag this Judgment!Court : Allahabad
Reported in : [2004]141TAXMAN545(All)
..... revenue. no body has put in appearance on behalf of the respondent assessee.4. 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 ..... appeal, the tribunal observed as follows:....... the amendments in the relevant provision of the section were made by the finance act, 1980, which came into force from 21-8-1980. it is no doubt true that by the said finance act the retrospective amendment was made in the relevant provisions of the act. however, since this event had occurred after the framing of the assessment on .....
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