Judgment Search Results Home > Cases Phrase: finance act 1968 section 2 income tax Court: gujarat Page 4 of about 7,918 results (0.099 seconds)

Commissioner of Income-tax, Gujarat-iv Vs. Cotton Fabrics Ltd.

Court : Gujarat

Reported in : (1981)23CTR(Guj)247; [1981]131ITR99(Guj)

..... 6. after this decision of the supreme court the legislature by the finance (no.2) act of 1980 inserted s. 80 aa with retrospective effect from april 1, 1968. section 80 aa provides: 'where any deduction is required to be allowed under section 80m in respect of any income by way of dividend from a domestic ..... company which is included in the gross total income of the assessee, then, not withstanding anything contained in that section, the deduction under that section ..... statement of objects and reasons in connection with the finance (no.2) act of 1980, one finds that according to the statement of objects and reasons, the new section, that is s. 80 aa, seeks to clarify that the deductions provided under any such section with reference to the inclusion in the gross total .....

Commissioner of Income-tax Vs. C.D.R. Laxmidevi

Court : Gujarat

Reported in : (1994)122CTR(Guj)246; [1995]211ITR858(Guj)

..... from dividend, interest from business of shares. the original assessment for the assessment year 1968-69 was finalised by the income-tax officer on december 15, 1971, and was rectified by an order dated november 22, 1975, under section 154 of the act to correct the mistake whereby special surcharge on unearned income was charged on the net ..... the dealers of shares. according to the income-tax officer, surcharge was to be charged on the unearned income included in the total income as per the finance act for the assessment year 1967-68. the appellate assistant commissioner setting aside the income-tax officer's order held that there was no mistake apparent on record which ..... 201itr451(guj) . in that case, while considering similar questions in the context of the provisions contained in paragraph a of part i of the first schedule to the finance (no. 2) act, 1967, this court held as under (at page 456) : 'it is clear that the surcharge, which is leviable under the said provision is to be levied .....

Commissioner of Income-tax, Gujarat-ii Vs. Ahmedabad Maskati Cloth Dea ...

Court : Gujarat

Reported in : (1986)50CTR(Guj)283; [1986]162ITR142(Guj)

..... -section(1) of section 80p provides that where, in the case of an assessee being a co-operative society ..... ), 81(iii) and 81(iv) of the act, section 81(iv) being a verbatim reproduction of section 14(5) with the whodunit (1) 'income of co-operative reproduction after the amendment brought about by the finance (no. 2) act, 1967, with effect from april 1, 1968, section 81(iv) was replaced by section 10(29) and section 81(i) was replaced by section 80p with which we are concerned. sub .....

Dhrangadhra Trading Co. Private Ltd. Vs. Commissioner of Income-tax, G ...

Court : Gujarat

Reported in : (1963)0GLR785

..... -54 ?'3. a reference was made by mr. s. p. mehta, the learned advocate for the assessee, to the provisions of the finance act of 1950. he urged that by section 2(1) of that act, it was provided that income-tax should be charged at the rate specified in part i of the first schedule and the rates of super ..... as from 1st april, 1950, in respect of any class of income then it could only effectively do so by amending both the provisions contained in section 14(2)(c) and the provisions of the finance act of 1952. 4. a similar argument had been advanced before the supreme court in the case in rajputana mining agencies ltd. v. union of ..... rates of tax' refers to only certain provisions contained in the first schedule to the relevant finance acts. our attention was called to the provisions of the finance act, 1951, as modified by the finance act, 1952. by section 2 thereof it has been provided that subject to the provisions of sub-sections (3), (4) and (5), for the year beginning the 1st day of april, .....

Commissioner of Income-tax Vs. Gopal Gram Seva Sahakari Mandli Ltd.

Court : Gujarat

..... respect of winnings from lottery. 80tt. [omitted by the finance act, 1986, w.e.f. 1-4-1987. original section was inserted by the finance act, 1972, w.e.f ..... . 1-4-1972 and amended by the finance (no.2) act, 1980 ..... rural development activities." section 80t reads as under: deduction in respect of long-term capital gains in the case of assessees other than companies. 80t [omitted by the finance act, 1987, w.e.f. 1-4-1988. original section was inserted by the finance (no.2) act, 1967, w.e.f. 1-4-1968 in replacement of section 114.] deduction in .....

D.R. Industries Ltd. and anr. Vs. Union of India (Uoi) and 3 ors.

Court : Gujarat

Reported in : 2008(127)ECC61; 2008(153)LC61(Gujarat); 2008(229)ELT24(Guj)

..... authority, suo motu power of initiation of appeal conferred on the commissioner under section 35e(3) of the act is also to be exercised within a period of three months. this period was earlier one year, but is now reduced to three months by finance act, 2007 - that is - within three months from the date of ..... excise matters somewhat similar to the set up on the direct taxes side and the demand had been endorsed by the estimate committee of parliament. accordingly, finance act, 1980 provided for setting up an appellant tribunal to hear appeals in respect of customs, central excise and gold control matters independent of the executive machinery ..... commissioner (appeals)'. however, by finance act, 2001, in case of commissioner (appeals) the period of limitation was curtailed from three months to 60 days and the period for condoning delay was curtailed from a further period of three months to a further period of 30 days. sub-section (4a) inserted in section 35a relating to procedure in .....

Commissioner of Income-tax Vs. Zippers India

Court : Gujarat

Reported in : (2006)203CTR(Guj)52; [2006]284ITR142(Guj)

..... fact that the court does not propose to disturb the order of the tribunal the matter is taken up and disposed of finally.6. section 37(3a) of the act was introduced initially by finance act,1978 with effect from 01/04/1979 and came to be deleted with effect from 01/04/1981. thereafter, once again the provisions were ..... from 01/04/1984 and were omitted with effect from 01/04/1986 by finance act,1985. therefore, the provisions were operative for assessment years 1979-80 and 1980-81 and thereafter for assessment years 1984-85 and 1985-86. 7. section 37(3a) of the act provides that where the expenditure or, as the case may be, the aggregate ..... taxpayers on fashion shows, beauty contests, consumer contests, consumer gift offers, and free samples or gifts will fall within the ambit of new sub-section (3a) of section 37 of the income-tax act'14. applying the aforesaid principles to the facts concurrently found by commissioner (appeals) and tribunal, it is apparent that the commission paid for local .....

In Re: Wood Polymer Limited; in Re: Bengal Hotels Pvt. Ltd.

Court : Gujarat

Reported in : [1977]109ITR177(Guj)

..... the companies is beneficial owner of not less than 90 per cent. of the issued share capital of the other company. by section 50(1) of the finance act, 1938, it was provided that section 42 of the finance act, 1930, shall not apply unless it is shown to the satisfaction of the commissioners of inland revenue that the instrument was not ..... of the court. that question does not appear to have been raised in the case under discussion. similar is the position in rodwell securities v. inland revenue commissioners [1968] 1 all er 257. the benefit of exemption from the stamp duty was denied on the construction of statute granting exemption but the following observation was relied upon ..... , morality has no place and it is a strict rule of fiscal law that has to prevail. in commissioner of income-tax v. a. raman & co. : [1968]67itr11(sc) it was observed as under :'avoidance of tax liability by so arranging commercial affairs that charge of tax is distributed is not prohibited. a taxpayer may resort to .....

Commissioner of Income-tax, Gujarat Vs. Arun Industries

Court : Gujarat

Reported in : [1966]61ITR241(Guj)

..... it is necessary to notice not only the position prevailing in the relevant year of account but also the position which prevailed prior to the amendment made in section 23(5) by the finance act 1956, with effect from 1st april, 1956. prior to the amendment, the position was as follows : where the firm was unregistered, the tax payable by the ..... the amendment made by the finance act, 1956, tax is payable by the registered firm itself under section 23(5)(a)(i), the revenue would be bound to grant to the registered firm exemption in respect of tax on the exempted profits. ..... liable to pay tax. that such an assessee can exist is clear from the second part of the definition of 'assessee' in section 2(2) and, as a matter of fact, prior to the amendment made by the finance act, 1956, a registered firm was such an assessee, since no tax was payable by the registered firm itself. but now after .....

Bharat Textile Works and ors. Vs. Income-tax Officer Circle-iv, 3-a, ( ...

Court : Gujarat

Reported in : [1978]114ITR28(Guj)

..... one sum if only the last of such dates has not expired. by the finance act, 1964, sub-section (3a) was added to section 212 and under that sub-section, in the case of any assessee who is required to pay advance tax by an order under section 210, if, by reason of the current income being likely to be greater ..... no estimate is made and under sub-section (1a) of section 217 which was added by the finance act, 1969 where, on making ..... on such of the dates applicable in his case under section 211 as have not expired, by instalments which may be revised according to sub-section (2). the proviso to section 212, sub-section (3a), which added by the finance act, 1970, is not material for the purpose of this judgment. section 217(1) provides for the payment of interest when .....