Judgment Search Results Home > Cases Phrase: finance act 1968 section 2 income tax Court: himachal pradesh Page 1 of about 504 results (0.364 seconds)

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

Court : Himachal Pradesh

Reported in : [1991]192ITR134(HP)

..... 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 ..... 1967 by the taxation laws (amendment) act, 1967, which came into force on and with effect from october 1, 1967, when sub-section (2a) was introduced in section 37 of the act whereby, in the case of assessees other than companies also, a ceiling on such expenditure was fixed. by the finance act, 1968, an explanation (which is now explanation ..... viewed from another angle also. the controversy, 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 explanation has been introduced for the removal of doubts by .....

Cit Vs. Himachal Oxygen (P) Ltd.

Court : Himachal Pradesh

..... the apex court in virtual soft systems ltd. case (supra) held as follows:explanation 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. the comparison of the explanation as it stood before 2002 and after 2002 by itself ..... was still an assessed loss. this situation was not dealt with at all by the explanation to section 271(1)(c) as it stood prior to its amendment by the finance act, 2002. 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 ..... 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 concealment of income could not be levied. the view taken by the karnataka .....

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

Court : Himachal Pradesh

..... welfare fund right upto 1st april, 2004, and who pays the contribution after 1st april, 2004, would get the benefit of deduction under section 43-b of the act. in our view, therefore, finance act, 2003, to the extent indicated above, should be read as retrospective. it would, therefore, operate from 1st april, 1988, when the ..... 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 ..... on the same?2. 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. .....

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

Court : Himachal Pradesh

..... this view of the matter, any notification issued by the government order in exercise of power under section 7 of the bihar finance act, if is found to be repugnant to the industrial policy declared in a government resolution, then the said notification must be held to be ..... has observed as below:- 7. 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 the state government in its ..... is issued by the state government after such policy is approved by the cabinet itself. the issuance of the notification under section 7 of the bihar finance act is by the state government in the finance department which notification is issued to carry out the objectives and the policy decisions taken in the industrial policy itself. in .....

Commissioner, Central Excise Vs. Fermenta Pharma Biodil Ltd.

Court : Himachal Pradesh

Reported in : 2008(3)ShimLC290

..... case.2. in answer to question no. 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 ..... the case?2. whether in the 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. briefly stated the facts of the case are that the assessee firm is manufacturing ..... have effect, as if, for the words 'six months', the words 'five years' were substituted.5. clause 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 .....

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

Court : Himachal Pradesh

Reported in : [1993]200ITR517(HP)

..... the case of cit v. d.r. phatak : [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. the explanation is as follows :'explanation : for the removal of doubts, it is hereby declared ..... the assessee even if it pertains to a period prior to the notifications and the amendment of section 10(14) with effect from april 1, 1989.19. we 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, 1962. the said explanation, as set out ..... in the nature of income or have the character of income, they are not to be included in the total income, if they are exempt under section 10(14). section 10 of the act provides for those incomes which are not to be included in the total income. it states that, in computing the total income of a previous year .....

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

Court : Himachal Pradesh

Reported in : [1997]225ITR199(HP)

..... 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. 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. 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. in this case, ..... by limitation. this is a matter, which can be raised by the petitioner before the concerned authorities. it is only a notice issued under section 148 of the act and thiscourt will go into the question of jurisdiction only. once, it is found that the authority during the said period has done the same .....

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

Court : Himachal Pradesh

Reported in : AIR1992HP53

..... 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 ..... ground that it was incumbent for respondent no. 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. we arc not inclined to allow this point to be urged since no grievance in this regard is made ..... take place. 2. the bank is a co-operative society duly registered under the provisions of the himachal pradesh co-operative societies act, 1968 (act no. 3 of 1969) (hereinafter to be referred as the act). petitioners were the members of board of the bank, duly elected in the year 1988, representing various co-operative societies, the .....

Hem Lata Vs. Himachal Road Transport Corporation and anr.

Court : Himachal Pradesh

..... of the central civil services (classification, control and appeal) rules, 1965. 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. she lastly contended that the appeal has been rejected without a speaking order. 3. ..... 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. this cannot constitute cogent reason to dispense with the inquiry. no cogent reasons have ..... -n of the industrial disputes act, 1947. 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. i have heard the learned counsel for the parties and have perused the pleadings carefully. .....

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

Court : Himachal Pradesh

..... 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. in view of the above discussion, we decide both the questions in favour of the revenue and against the ..... 652.5. these returns were accepted by the income tax officer. 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 ..... rs. 2,53,18,607 and the net gross income from long-term finance was rs. 1,72,15,433. the appellant claimed 40 per cent deduction under section 36(1)(viii) of the income tax act, 1961, amounting to rs. 68,86,173.4. for the assessment ..... year 1988-89, the gross income from financing business was rs. 5,33,30,183.33 and the .....