Judgment Search Results Home > Cases Phrase: finance act 1968 section 28 amendment of section 280zb Year: 1996 Page 11 of about 262 results (0.405 seconds)

J. B. Boda and Co. Pvt. Ltd. Vs. Central Board of Direct Taxes.

Court : Supreme Court of India

Reported in : (1997)137CTR(SC)287

..... will satisfy the requirement of s. 80-o of the it act ?4. provisions similar to s. 80-o of the act were originally available in the former s. 85 of the it act, 1961. while moving the bill relevant to the finance act no. 2 of 1967, the then finance minister highlighted the fact that fiscal encouragement need to be ..... respondent filed as annexure - b (page 8 of the supplementary paperbook) is relevant and affords guidance in understanding the purport of s. 80-o of the act :'sec. 80-o of the it act, 1961 - deduction - royalties, etc., from certain foreign enterprises - in case of receipt of brokerage by reinsurance agent, operating in india on behalf of ..... in convertible foreign exchange in india'. we are afraid, we do not agree with the submission of the learned counsel for the petitioner. to attract this section, the assessee must receive convertible foreign exchange from abroad. by retaining their fees they are not receiving any foreign exchange in india but only retaining the convertible .....

Government of India Vs. Jagadish A. Sadarangani

Court : Chennai

Reported in : (1996)136CTR(Mad)539; [1996]221ITR338(Mad)

..... from july 1, 1995. the object of introducing sub-section (4) has been stated in the finance bill (see [1995] 212 itr 98 in specific terms (page 314) : 'the ..... the provisions of sub-section (4) of section 269uc are applicable to the case on hand. if so, what is the scope and effect of the same (2) whether the order of the appropriate authority calls for interference 17. point no. 1 : sub-section (4) of section 269uc of the act came to be introduced by the finance act, 1995, with effect ..... new sub-section (4) is intended to deal with cases of defective statements which are furnished to the appropriate .....

Sukra Diamond Tools Pvt. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Chennai

Reported in : (1997)137CTR(Mad)629; [1998]229ITR682(Mad)

..... and the same cannot be supported by any principle of interpretation. 12. mr. s. v. subramaniam, learned senior counsel for the respondents, takes me through the finance act, 1993, which introduced s. 143(1a)(a) in the present form and the fact that the same has been given retrospective effect from 1st april, 1989. with ..... business. the supreme court observed : 'the character of the computation provisions in each case bears a relationship to the nature of the charge. thus, the charging section and the computation provisions together constitute an integrated code. when there is a case to which the computation provisions cannot apply at all, it is evident that ..... made in the present shape which i have already quoted above. 8. the next argument of mr. rajappa is that machinery provisions are always subject to the charging section. reliance is placed on union of india vs . bombay tyre international ltd. : 1983ecr653d(sc) . that was the famous case relating to the post-manufacturing expenses .....

Commissioner of Income-tax Vs. Ashok Kumar Jha

Court : Patna

..... assistant commissioner as well as the tribunal. according to counsel, the findings and the order recorded by them are in teeth of the explanation appended to section 271(1)(c) of the act as inserted by the finance act, 1964. he has placed reliance on chuharmal v. cit : [1988]172itr250(sc) ; cit v. nathulal agarwala and sons : [1985]153itr292(patna) and cjt v. mussadilal ..... ram bharose : [1987]165itr14(sc) . 5. section 271(1)(c), as it originally stood was as follows ;' if the income-tax officer or the appellate assistant commissioner, in .....

Blue Star Ltd. Vs. Hindustan Photo Films Manufacturing Co. Ltd.

Court : Chennai

Reported in : 1997(2)CTC538

..... expeditious enforcement of the measures so determined. the provision regarding suspension of legal proceedings contained in section 22(1) seeks to advance the object of the act by ensuring that a proceeding having an effect on the working or the finances of a sick industrial company shall not be instituted or continued during the period the matter is ..... does not confer any immunity to the applicant from the provisions of section 22 of the act, at least in so far as any interim relief, which would affect the working or the finances of the company, is concerned. 16. even on the plain language of section 22, there can be no doubt whatsoever that an application like the ..... above shows that the observation made by the apex court regarding the eviction proceedings not being covered by section 22(1) of the act was in the context of the fact that such eviction proceedings have no effect on the working or the finances of the company. any proceedings, which would have an effect on the working or the .....

income-tax Appellate Tribunal Vs. Dy. C.i.T. (Assts.) Iii, Hyderabad

Court : Supreme Court of India

Reported in : AIR1996SC1066; (1996)131CTR(SC)59; 1996(82)ELT4(SC)

..... also made the following observations in this connection at page 41 of its judgment: .as already stated, the power to constitute a special bench under section 255(3) of the act shall be exercised judiciously and judicially and the discretion cannot be exercised arbitrarily at the whims and fancies of the authority vested with such power. we ..... bench can be constituted by the president only on the basis of a judicial order and not in exercise of his powers under sub-section (3) of section 255 of the income tax act. according to the learned counsel the high court had equally erred in taking the view that on the facts of the present case the ..... even though he might have subsequently changed his view and recommended constitution of a special bench for resolving the questions involved centering round construction of section 115-j of the income tax act in company of shri t.v. rajagopala rao, judicial member only four listed matters were suggested to be placed before special bench for decision. .....

Commissioner of Income Tax Vs. A.U. Chandrasekharan and ors.

Court : Chennai

Reported in : 1997(1)CTC597; [1998]229ITR406(Mad)

..... the tickets. the object of purchasing the ticket was for earning income. 9. the definition of the expression 'income' in cl. (24) of s. 2 of the act has been amended by the finance act, 1972, w.e.f. 1st april, 1972. sub-cl. (ix) has been added to the definition. after this amendment, the expression 'income' includes any winnings from ..... joint venture agreement clearly says that they had entered into a joint venture regarding the placing of bettings, investing in jackpot and treble and tanala events in the horse-racing section of 1972 at hyderabad. each of them contributed rs. 200 initially and agreed to supply further amounts required in equal proportions. the moneys so contributed were to be ..... common purpose or to join in an action. therefore, aop as used in s. 3 of the it act means an association in which two or more persons join in a common purpose or common action, and as the words occur in section, which imposes a tax on income, the association must be one, the object of which is to .....

Indian Aluminium Co. Etc. Etc. Vs. State of Kerala and Others

Court : Supreme Court of India

Reported in : 1996IIAD(SC)137; AIR1996SC1431; JT1996(2)SC85; 1996(1)SCALE780; (1996)7SCC637; [1996]2SCR23

..... november 22,1994 of the kerala high court made in o.p. no. 5957 of 1987 and batch.3. by section 36 of finance act 1978, the central excise and salt act, 1944 [for short the 'excise act) was amended to impose central excise duty on electricity under item 11-e in the 1st schedule to the excise ..... issued directing the municipality to treat the relevant entries as assessment books for the relevant years, was held to be invalid and cancelled. section 152-a was amended by gujarat amendment act, 1968. when it was challenged, this court had pointed out that the corporation was not entitled to withhold the amounts illegally collected and writ ..... of mandamus was issued directing the refund. again, sub-section (3) of section 152-a was introduced validating the collections by gujarat amendment and validation ordinance .....

Commissioner of Income-tax Vs. Ajay Textiles

Court : Punjab and Haryana

Reported in : [1997]224ITR98(P& H)

..... on the department to prove that there was any deliberate concealment on the part of the assessee cannot be sustained in view of the explanation to section 271(1)(c) of the act added by the finance act of 1964, which creates a rebuttable presumption of law that where the total income returned by the assessee is less than 80 per cent. ..... the supreme court in cit v. mussadilal ram bharose : [1987]165itr14(sc) and chuharmal v. cit : [1988]172itr250(sc) argued that the explanation to section 271(1)(c) of the act added by the finance act of 1964, creates a rebuttable presumption of law to the effect that where the total income returned by the assessee is less than 80 per cent ..... no longer applicable in view of the object and intent of the legislature in omitting the word 'deliberately' from clause (c) of section 271(1) of the act and adding the explanation thereto by the finance act of 1964 was to bring about a change in the existing law regarding the levy of penalty so as to shift the burden of .....

Manik Chand Sethia Vs. Union of India (Uoi) and ors.

Court : Allahabad

Reported in : (1997)143CTR(All)428; [1997]226ITR411(All); [1997]92TAXMAN524(All)

..... a judgment dated june 20, 1991, and was thus passed before the supreme court decided c.b. gautam's case : [1993]199itr530(sc) in section 269ud by the finance act, 1993 (sic), and proceeded on the special terms of the agreement between the parties which were to the effect that in case the government decided to ..... a buyer is a person who is interested in the property and sub-section (1a) as inserted by the finance act, 1993, with effect from november 17, 1992, makes this all the more clear. sub-section (1a) stands as under :'before making an order under sub-section (1), the appropriate authority shall give a reasonable opportunity of being heard ..... in excess of the apparent sale consideration and, therefore, the appropriate authority had no jurisdiction to order the purchase of the property in question under section 269ud of the act.20. learned counsel for the respondents contended that the petitioner who agreed to purchase the property in question has no right to maintain this petition .....