Judgment Search Results Home > Cases Phrase: finance act 1968 section 2 income tax Court: guwahati Page 5 of about 1,780 results (0.077 seconds)

Ladhuram Laxminarayan Vs. Commissioner of Income-tax

Court : Guwahati

..... above parties were, in fact, the moneys belonging to some of the partners of the firm and these partners made voluntary disclosure under section 24 of the finance (no. 2) act, 1965. the income-tax officer held that the interest shown as paid to these parties were not actually paid to a third party ..... , namely, laduram ajitsaria, madanlal ajitsaria, k. p. ajitsaria and sitaram ajitsaria, made declarations under section 24 of the finance (no, 2) act of 1965, wherein they respectively stated that laduram ajitsaria received the interest paid to m/s. international finance corporation and m/s. laxminarayan mohanlal, madanlal ajitsaria received the interest paid to m/s. surajmal ganeshiram ..... firm. these facts are not disputed. 8. the question that arises for determination is whether the assessee-firm is liable to penalty under section 271(1)(c) of the act because in its return it showed these interest amounts as paid to some other parties instead of the four partners mentioned hereinabove. the .....

PorcelaIn India (P.) Ltd. Vs. State of Assam and ors.

Court : Guwahati

..... such exemption is also subject to the conditions as may be specified in such notification. accordingly, the notification dated 30.7.1988 issued under section 3b of the assam finance (sales tax) act, 1956 has prescribed certain conditions which must be fulfilled before any assessee can claim the benefit of exemption. in the present case the petitioner ..... products for the period 15th october, 1982 to 31st august, 1988 in terms of the notification dated 30.7.1988 issued under the provisions of section 3b of the assam finance (sales tax) act, 1950. insofar as the period after 1.8.1988 is concerned, the argument advanced is that the provisions contained in the notification dated 30 ..... exemption on the sale of its finished products if it had levied and collected sales tax is a requirement imposed by section 3b of the assam finance (sales tax) act, 1956 as inserted by chapter iii of act 1 of 1987. such a requirement is also a specific condition subject to which exemption has been granted by the .....

Mechfield Industries Vs. Commissioner of Taxes and ors.

Court : Guwahati

..... for preserving the accounts for a period of eight years only.7. in the present case, the assessment was made under section 9(3) of the assam finance (sales tax) act, 1956 and under section 12 of the said act which has been repealed on july 1, 1993. the rectification of the orders could have been done within a period ..... as required and assessments were made. the assessment for the period september 30, 1983 was completed by the superintendent of taxes, unit-d, guwahati, under section 9(3) of the assam finance (sales tax) act, 1956 on march 15, 1984. thereafter, the deputy commissioner of taxes, guwahati, zone-c, vide letter dated december 1, 1997 issued show cause ..... and notions of justice, equity and good conscience.9. in view of the specific provisions under the assam finance (sales tax) act, 1956 since repealed and provisions of rule 36 read with section 41 of the assam general sales tax act, 1993, we have no hesitation to hold that the jurisdiction of entertain to suo motu is available to .....

Commissioner of Income-tax Vs. Veneer Mills Pvt. Ltd.

Court : Guwahati

..... purpose of the business ...' 8. analysing the corresponding provisions in the assam finance (sales tax) act, 1956, we find that they are more or less similar to the provisions in the u. p. sugarcane cess act, 1956. section 3 is the charging section regarding tax. section 22 states, inter alia, that tax payable shall be paid in the manner ..... that the interest paid on sales tax dues under the assam finance (sales tax) act, 1956, or on forest dues are not deductible under section 36(1)(iii) of the act. the question for consideration is whether these deductions are allowable under sub-section (1) of section 37 of the act, which reads thus : '37. general.--(1) any expenditure ..... doubt that the interest payable on the sales tax dues under the assam finance (sales tax) act, 1956, is part of the sales tax liability. that being so, the amount so paid as interest is admissible as legitimate deduction under section 37 of the act. 10. the same is the position regarding the interest paid on the .....

Bikul Das and ors. Vs. State of Assam and ors.

Court : Guwahati

..... price of such goods to be sold (further) by the buyer is fixed by or under any state act. . .' 6. the provision of law was further amended in 1992 by the finance act, 1992. by the said amendment, section 44ac was deleted and section 206c is inserted which is as follows :'206. profits and gains from the business of trading in ..... august 18, 1994 (annexure-a), brought to the notice about the insertion of section 44ac in the income-tax act, 1961, and also subsequent deletion of the same by the finance act, 1992, and that similar provisions have been made in the new section 206c of the income-tax act, 1961, with effect from april 1, 1992. by the said letter, the ..... spirit liquor shops in assam. in this view of the matter the lessees of the country liquor shops cannot therefore be saddled with the liability imposed in section 206c of the act and the said provision will not be applicable to the buyers covered by the explanation.15. the impugned direction contained in the communication no. c-1/ .....

Bikul Das and ors. Vs. State of Assam and ors.

Court : Guwahati

..... of such goods to be sold (further) by the buyer is fixed by or under any state act...."7. the provision of law was further amended in 1992 by the finance act, 1992. by the said amendment, section 44ac was deleted and section 206c is inserted which is as follows :``206. profits and gains from the business of trading in ..... memo dated 18-8-1994 (annexure-a), brought to the notice about the insertion of section 44ac in the act, and also subsequent deletion of the same by the finance act, 1992, and that similar provisions have been made in the new section 206c of the act, with effect from 1-4-1992. by the said letter, the assistant commissioner of income ..... as forwarded by the income tax officer, sibsagar, are enclosed herewith for ready reference). the delay in deduction will lead to charging of statutory interest under section 201(1a) of the act, apart from other consequences. the person responsible for tax at source will have to bear interest on these deductions which is at 15 per cent.(sic .....

Bikul Das and ors. Vs. State of Assam and ors.

Court : Guwahati

Reported in : (1998)150CTR(Gau)227

..... of such goods to be sold (further) by the buyer is fixed by or under any state act....'7. the provision of law was further amended in 1992 by the finance act, 1992. by the said amendment, section 44ac was deleted and section 206c is inserted which is as follows :``206. profits and gains from the business of trading in ..... memo dated 18-8-1994 (annexure-a), brought to the notice about the insertion of section 44ac in the act, and also subsequent deletion of the same by the finance act, 1992, and that similar provisions have been made in the new section 206c of the act, with effect from 1-4-1992. by the said letter, the assistant commissioner of income ..... as forwarded by the income tax officer, sibsagar, are enclosed herewith for ready reference). the delay in deduction will lead to charging of statutory interest under section 201(1a) of the act, apart from other consequences. the person responsible for tax at source will have to bear interest on these deductions which is at 15 per cent.(sic .....

Electric and Furnishing Mart Vs. State of Assam and ors.

Court : Guwahati

..... , if the consignor is transporting goods in pursuance of a sale for the purpose of delivery to the buyer. the buyer's registration certificate no. under the assam finance (sales tax) act, 1956, if he is a dealer, has to be stated. under clause 6, if the consignor is transporting goods after purchasing them, the name and address of ..... for restriction of movement and the conditions prescribed therein have been made with a view to ensure that there is no evasion of tax imposed by this act. section 33a also enables the state government to set up and erect check posts and barriers at any place in the state and to require every person importing goods ..... or incidental thereto : it has no power to legislate for levy of tax on sales and purchases in the course of inter-state transactions. the power conferred by section 42 authorising the imposition of restriction on transport or movement of goods might therefore only be exercised in respect of levy, collection and recovery of tax on transactions of .....

Krishna Mohan Banik Vs. Income-tax Officer

Court : Guwahati

..... the facts of the present case and not the law as it stood prior to october 27, 1992. according to mr. joshi, the proviso to section 143(2) was substituted by the finance (no. 2) act, 1991, with effect from october 1, 1991, and as per the aforesaid substituted and/or amended proviso, a limitation of 12 months from the ..... . with effect from october 1, 1991, the aforesaid proviso was no longer in operation and instead the substituted proviso introduced by the finance (no. 2) act, 1991, providing that no notice under section 143(2) shall be served on the assessee after the expiry of 12 months from the end of the month in which the return is furnished came ..... in which the return is furnished, whichever is later.'6. with effect from october 1, 1991, the finance (no. 2) act, 1991, substituted the following proviso for the aforesaid proviso to section 143(2) : 'provided that no notice under this sub-section shall be served on the assessee after the expiry of twelve months from the end of the month in .....

Saligram and Co. and anr. Vs. Deputy Commissioner of Taxes and ors.

Court : Guwahati

..... . this is annexure vi to the writ application.a revision petition was filed before the commissioner of taxes under section 20(2) of the assam finance (sales tax) act challenging the notice under section 31(1) of the act and also seizure of the books of account. a written argument was submitted before the commissioner of taxes, i ..... visited the premises of the petitioner-firm. inspector of taxes, dibrugarh, respondent no. 4, instantly issued a notice to the petitioner-firm under section 31(1) of the assam finance (sales tax) act directing the petitioner to produce all the books of account relating to the business with effect from april 1, 1988 to september 19, 1989 ..... of account dated september 19, 1990 illegal and void.the brief facts are as follows :on september 8, 1989 notice was issued under section 33(1) of the assam finance (sales tax) act, 1956, by the superintendent of taxes, dibrugarh, directing the petitioner to produce the books of account and documents for the periods ending march .....