Judgment Search Results Home > Cases Phrase: finance act 1968 section 28 amendment of section 280zb Year: 1991 Page 5 of about 233 results (0.309 seconds)

V. Vaidyanathan Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1991)39ITD229(Mad.)

..... it constitutionally valid and avoid that construction which attributes irrationality to the legislature.14. we are, therefore, compelled to take a close look at the mechanism of this section. in section 8 of the finance act, itself two expressions are used. in respect of clause (a) the word used is 'substituted' whereas in respect of clause (b) the word used is ' ..... it could take effect from the date of the bill. under clause (5) of the general clauses act, the amendment can take effect only from the date specified in the act or on receiving the assent of the president. since the finance act, 1979, section 1 states that it shall be deemed to have come into force from 1-4-1979, this ..... section comes into the statute from 1-4-1979. of course, it states that in a case where .....

Commissioner of Income-tax Vs. Chandrakant M. Tolia

Court : Chennai

Reported in : (1991)96CTR(Mad)117; [1992]195ITR593(Mad)

..... failure to disclose the added amounts in the returns filed by him was due to any fraud or willful neglect on his part. 14. the explanation to section 271(1)(c) was introduced by the finance act, 1964, with effect from april 1, 1964. the supreme court decided anwar ali's case : [1970]76itr696(sc) on april 29, 1970, i.e., six years ..... the returns for the assessment year 1961-62 and 1962-63 were filed long before the amendment of section 271 with effect from april 1, 1968, penalty for such concealment of income was held leviable in accordance with the provisions of section 271 of the act as they stood prior to the amendment and not after the amendment, even where the penalty proceedings had .....

Commissioner of Income-tax Vs. Eastern Chemicals and Minerals Pvt. Ltd ...

Court : Chennai

Reported in : (1991)94CTR(Mad)86; [1991]192ITR423(Mad)

..... amounts referred to will necessarily constitute business receipts referable to, or derived from the export of cycle rims and hence the assessee was entitled to the rebate under section 2(5)(a) of the finance act, 1966, on the two amounts. the above decision is clearly distinguishable on facts and the principle laid down in that decision will not apply to the ..... -67, the assessee claimed a rebate on the value of the exported goods on the two receipts referred to above on the basis of the provisions of section 2(5)(a) of the finance act, 1966. the income-tax officer held that the cash subsidy of rs. 1,60,717 and the profits from the sale of import entitlements amounting to ..... the notification no. s.o. 3210, dated august 8, 1969 (see [1969] 74 itr (st.) 6), but had considered only the combined effect of section 2(5)(a)(i) and 2(5)(d) of the finance act, 1966, and the rule 2(2) of the income-tax (determination of export profits) rules, 1966. the assessee would get the benefit of notification no .....

Mccormick Vs. United States

Court : US Supreme Court

..... legislation that will benefit the district and individuals and groups therein is the everyday business of a legislator. it is also true that campaigns must be run and financed. money is constantly being solicited on behalf of candidates, who run on platforms and who claim support on the basis of their views and what they intend to ..... legislation that will benefit the district and individuals and groups therein is the everyday business of a legislator. it is also true that campaigns must be run and financed. money is constantly being solicited on behalf of candidates, who run on platforms and who claim support on the basis of their views and what they intend to ..... make opportunity for the commission of any fraud on the united states; or" "(c) being induced to do or omit to do any act in violation of the official duty of such official or person" section 201(b)(1) provides penalties for anyone who "corruptly gives, offers or promises anything of value to any public official or person who .....

Vijay Prataprai Mehta Vs. Union of India

Court : Mumbai

Reported in : 1992(59)ELT382(Bom)

..... rupees pernamely - plates, sheets, metric tonne.circles, strips and foilsin any form or size.(3) pipes and tubes. ten per cent ad valorem.' by section 48 of the finance act, 1981 the schedule to the excise act has been amended and a sub-item (1b) and explanation ii has been included as follows : '(1b) waste and scrap. explanation i - 'copper' ..... the position, in the present petition also we hereby quote the above item no. 26a of the first schedule to the central excises & salt act, 1944 as duly amended by section 48 of the finance act, 1981 read with notification no. 32 of 1981 dated 1st march 1981. 'item no. 26a of the first schedule to the central excises and ..... that the copper scrap and waste were included under item no. 26a(1b) by section 48 of the finance act, 1981. for the purpose of clarity and at the cost of repetition, it may be mentioned that by section 48 of the finance act, 1981, schedule to the excise act stood amended and special item no. (1b) as well as explanation ii was .....

Pradeep Batra Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1991)39ITD406(Delhi)

..... in respect of persons who have agricultural income in addition to non-agricultural income that the mode of computation of rate of tax as provided by the finance act is adopted. the karnataka high court also upheld the constitutional validity of aggregating agricultural income for rate purposes by holding that the agricultural income was not ..... the total income. the finance acts of 1973 and 1974 by legislative fiction deem agricultural income to be part of total income for the limited purpose of working out the rate of tax. the impugned provisions do not outrun the embankments provided by sections 4,66 and 110 of the i.t. act and the scheme of the ..... defined under section 2(24) of the income-tax act, 1961.under section 10 certain incomes are excluded from forming part of total income and agricultural income is specifically excluded from the total income. there is thus no doubt that agricultural income as such is not liable to tax. from assessment year 1973-74 the finance act, 1973 provided .....

Geep Flashlight Industries Ltd. and ors. (Since Changed to Geep Indust ...

Court : Allahabad

Reported in : [1996]218ITR638(All)

..... of writ petitions calls in question the constitutional validity of sub-section (8) of section 40a of the income-tax act, 1961. the sub-section was inserted by the finance act, 1975, with effect from april 1, 1976, and omitted by the finance act, 1985, with effect from april 1, 1986.2. section 40a sets out expenses or payments not deductible in certain ..... circumstances. for the sake of convenience, we may set out sub-section (8). it reads ..... way of subscription to share capital, etc., as also loans raised on security are also excluded.4. the objects and reasons behind this sub-section were set out in a memorandum accompanying the finance bill, 1975. it has been extracted in paragraph 8(b) of c.m.w.p. no. 175 of 1979. it reads thus .....

Godavari Sugar Mills Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : [1992]193ITR141(Bom)

..... the reduction in rebate should be confined only to the dividend declared for the immediately preceding year cannot be accepted as there is no distinction contemplated in the finance act, 1965, between dividend for the relevant year and earlier years. the expression used 'on the whole amount of the dividends other than dividends on preference shares, ..... 50 and the same had to be distributed to the shareholders during this assessment year because of the action of the income-tax officer under section 23a of the indian income-tax act, 1922, having been upheld by the high court in the reference. the appellate assistant commissioner noted the contention of the assessee to the ..... year under consideration for the accounting years 1948-49 and 1949-50, respectively, on the basis of the decision of the bombay high court under section 23a of the indian income-tax act, 1922 ?' 2. the assessee is a company carrying on the business of manufacturing and sale of sugar. the relevant assessment year is 1965-66 .....

Chief Commissioner (Administration) Vs. Sanjay Sales Syndicate

Court : Karnataka

Reported in : [1992]197ITR255(KAR); [1992]197ITR255(Karn)

..... . 5. both these reasonings need not be considered by us in view of the specific language of section 43b of the income-tax act, 1961, read with explanation 2 thereto introduced with effect from april 1, 1984, by the finance act, 1989. the effect of this explanation is that every sum payable by an assessee if not paid ..... on or before the due date applicable for furnishing the return of income under sub-section (1) of section 139 of the income-tax act, 1961, and the assessee had furnished proof of having made such payment. this proviso was inserted by the finance act, 1987, with effect to this proviso in the present case in actually making the ..... during the relevant accounting year cannot be deducted under the main provision of section 43b even though the liability was incurred during the said accounting year. whatever .....

India Jute and Industries Ltd. Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1991)(33)ECC188

..... reference to an exemption or concession notification which would necessarily affect the rate of duty. however, by section 47 of finance act, 1984, section 35b pertaining to appeals to tribunal was amended by adding a proviso. the first proviso to section 35b has taken away the jurisdiction of the appellate tribunal to decide any appeal pertaining to rebate of ..... in my view, neither the speical bench nor the regional bench will have jurisdiction because by the amendment to section 35b by the finance act 1984, the jurisdiction in such matters has been vested in the govt. of india under section 35ee.35. i agree with the order of learned brother, shri peeran. however, i am of the ..... outside india (except to nepal or bhutan) under bond (rule 13 central excise rules). this provision barring tribunal's jurisdiction came into effect with the enactment of finance act 1984, on 11-5-1984. therefore, where the appeal from an order of the collector (appeals) turns on the interpretation of 12,12a and 13 of .....