Court : Gujarat
..... as the case may be, of part iii of the first schedule of the finance act of the year in which the search is initiated under section 132 or requisition is made under section 132a of the income-tax act." addition of this proviso in the finance act, 2003 further makes it clear that such a provision was necessary to provide for ..... 249 wherein the hon'ble supreme court has held as under: 'the surcharge on the income tax was introduced for the first time by the finance act, 1995, in section 2 (3) thereof. however, initially, this surcharge was levied only on the income of companies i.e. corporate entities incorporated under the indian companies ..... income was made prospective. such a stipulation is contained in second proviso to subsection (3) of section 2 of finance act, 2003. this proviso reads as under: "provided further that the amount of income-tax computed in accordance with the provisions of section 113 shall be increased by a surcharge for purposes of the union as provided in paragraph a, .....
Tag this Judgment!Court : Gujarat
..... trade or businesses commenced after the outbreak of the first world war in 1914. by subjecting the legislation to a strict literal interpretation, rowlatt j. held that the finance (no. 2) act, 1915, in isolation, did not apply to businesses that commenced after the outbreak of war in 1914 and observed as follows: "....... the principle in favour of ..... question in favour of the assessee when two interpretations are possible. thus, we are of the opinion that the question regarding addition of amount under section 32ab(6) of the act is required to be answered in the negative i.e. in favour of the assessee and against the revenue as the tribunal has not erred in ..... for the previous year relevant to the assessment year for which the deduction is claimed have been audited by an accountant as defined in the explanation below sub-section (2) of section 288 and the assessee furnishes, along with his return of income, the report of such audit in the prescribed form duly signed and verified by such .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Gujarat
..... .f 1-7-1995. the exhibition of film in theatre is not an activity expressly covered by the explanation iii. anything which is not expressly covered under the category of work cannot be regarded as "work" by extended meaning of work as described in section 194c of the act. the ..... the purposes of this section, the expression "work" shall also include (a) advertising; (b) broadcasting and telecasting including production of programmes for such broadcasting or telecasting; (c) carriage of goods and passengers by any mode of transport other than by railways; (d) catering.' 9. the abovementioned explanation has been inserted by the finance act, 1994 w.e ..... with ms. mauna bhatt, learned advocate on behalf of the department. he submitted that the tribunal has overlooked that a clarification the fact that section 194c of the act would apply in relation to payment to a person to arrange advertisement, broadcasting, telecasting etc. he has relied upon a decision of the apex .....
Tag this Judgment!Court : Gujarat
..... payment of the tax due on the returned income where such shortfall is on account of increase in the rate of surcharge under section 2 of the finance act, 2000 (10 of 2000), as amended by the taxation laws (amendment) act, 2000 (1 of 2000), and the assessee has paid the amount of shortfall, on or before the 15th day of june, 2000, the ..... specific provision(s) is made in the section saying that all other provisions of the act shall apply to the mat company (section 115ja (4) and section 115jb(5)). similarly, amendments have been made in the relevant finance acts providing for payment of advance tax under sections 115ja and 115jb. so far as interest leviable under section 234b is concerned, the section is clear that it applies to all .....
Tag this Judgment!Court : Gujarat
..... of the view that the above circular has not correctly interpreted the provisions of section 48 viz.a.viz. section 54e. notes on clauses in the finance bill, 1987, neither under clause 15 seeking substitution of a new section of section 48 of the act relating to mode of computation and deductions nor under clause 22 seeking an amendment of ..... claim exemption from tax on such capital gains. the assessee is entitled to avail of the permissible deduction under section 48 (1) (b) of the act and then take the advantage of section 54e of the act by investing the proportionate net consideration in specified assets and thereby avoid tax on the capital gains on which ..... section 54e of the act relating to exemption from capital gain on transfer of capital assets in certain cases, .....
Tag this Judgment!Court : Gujarat
..... of the indian penal code. the complaint has been filed by the deputy director, directorate of enforcement, ministry of finance, department of revenue, government of india in exercise of his powers under section 45 of the act 2002. it also appears that it is the first supplementary complaint dated 29th october, 2014 filed in the complaint dated ..... 4. in the said complaint the complainant prayed before the court to take cognizance of the offence of money laundering in terms of section 3 punishable under section 4 of the p.m.l. act 2002 and issue process against the accused persons in accordance with law. the complainant also prayed to direct confiscation of the properties ..... involved in the money laundering in terms of section 8(5) of p.m.l. act 2002. the complainant also prayed for issuing non bailable warrant in lieu of prosecution against the accused. 5. it appears that the learned .....
Tag this Judgment!Court : Gujarat
..... of the indian penal code. the complaint has been filed by the deputy director, directorate of enforcement, ministry of finance, department of revenue, government of india in exercise of his powers under section 45 of the act 2002. it also appears that it is the first supplementary complaint dated 29th october, 2014 filed in the complaint dated ..... 4. in the said complaint the complainant prayed before the court to take cognizance of the offence of money laundering in terms of section 3 punishable under section 4 of the p.m.l. act 2002 and issue process against the accused persons in accordance with law. the complainant also prayed to direct confiscation of the properties ..... involved in the money laundering in terms of section 8(5) of p.m.l. act 2002. the complainant also prayed for issuing non bailable warrant in lieu of prosecution against the accused. 5. it appears that the learned .....
Tag this Judgment!Court : Gujarat
..... the surat municipal corporation. the answer must therefore, be confined to such a contract and by the very nature of the proceedings under section 62 of the sales tax act, 1969, or section 80 of the gujarat value added tax act, may not have a permanent impact as suggested by the learned agp. 8. in the result, civil application for condonation of delay is ..... state till 14.3.2014 when the proposal to file appeal was sent to the finance department, there is absolutely no explanation at all. there is not a word, a whisper in this application explaining the entire period for nearly six and half years. the ..... order dated 22.10.2007 was communicated to the state on 16.11.2007. thereafter, on 14.3.2014, the proposal to file the tax appeal was sent to the finance department which is approved on 10.4.2014. it can thus be seen that the entire between 22.10.2007 when the order of the tribunal was communicated to the .....
Tag this Judgment!Court : Gujarat
..... the surat municipal corporation. the answer must therefore, be confined to such a contract and by the very nature of the proceedings under section 62 of the sales tax act, 1969, or section 80 of the gujarat value added tax act, may not have a permanent impact as suggested by the learned agp. 8. in the result, civil application for condonation of delay is ..... state till 14.3.2014 when the proposal to file appeal was sent to the finance department, there is absolutely no explanation at all. there is not a word, a whisper in this application explaining the entire period for nearly six and half years. the ..... order dated 22.10.2007 was communicated to the state on 16.11.2007. thereafter, on 14.3.2014, the proposal to file the tax appeal was sent to the finance department which is approved on 10.4.2014. it can thus be seen that the entire between 22.10.2007 when the order of the tribunal was communicated to the .....
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