Judgment Search Results Home > Cases Phrase: finance act 1968 section 28 amendment of section 280zb Year: 1996 Page 4 of about 262 results (0.270 seconds)

Dr. Vs. P. Gopinathan V. Commissioner of Wealth Tax.

Court : Kerala

Reported in : (1996)133CTR(Ker)493

..... tax counsel urged, firstly on the basis of the following words, 'within one year immediately preceding the date of his return and at any time thereafter' introduced by the finance act, 1986 w.e.f. 1st april, 1987, wanted us to appreciate the legislative intent of the clause under consideration as it is. it is not possible when the ..... also apply to the value of the assets acquired by such an assessee out of the monies remitted by him during his ordinary residence in a foreign country.21. the section can be considered from yet another angle. the words are 'such monies '. we have to appreciate the plural sense of the word 'monies' as referring to occasions ..... india for good. the question also is whether it also includes the assets acquired by him after his return, out of such monies.18. the plain language of the section, in our judgment, cannot permit such a restricted approach based on dissection, firstly with regard to the remittances, secondly with regard to the monies and the assets brought .....

Damodar Electronics and Controls Vs. Commissioner of Income-tax

Court : Kerala

Reported in : (1996)134CTR(Ker)398; [1997]224ITR228(Ker)

..... the said amount cannot be disallowed in the computation of income for the purpose of assessment. so also the assessee had contended that explanation 2 to section 43b introduced by the finance act, 1989, with effect from april 1, 1984, cannot be applied to the assessment year in question. though the first appellate authority has considered both the ..... holding that the amount of sales tax remaining unpaid on march 31, 1986, could be allowed under the provisions of section 43b of the income-tax act, 1961. section 43b of the income-tax act, 1961, was inserted by the finance act, 1983, with effect from april 1, 1984. in respect of the items set out in the four clauses ..... stores v. union of india : [1991]189itr70(patna) have taken the view that the proviso to section 43b of the income-tax act, 1961, incorporated by the finance act, 1987, with effect from april 1, 1988, relates back to the date when section 43b came into operation, i. e., from april 1, 1984, and, therefore, the said proviso .....

Kumar Jagdish Chandra Sinha (Dead) Through Lrs. Etc. Vs. Commissioner ...

Court : Supreme Court of India

Reported in : 1996IVAD(SC)496; AIR1996SC1895; (1996)133CTR(SC)143; [1996]220ITR67(SC); JT1996(4)SC709; (1996)9SCC257; [1996]Supp1SCR657

..... or after the 1st day of april, 1969; or] [subs. by finance act, 1968 (w.e.f. 1.4.1969)].(b) the expiry of eight years from the end of the assessment year in which the income was first assessable, in a case falling within clause (c) of sub-section (1) of section 271; or(c) the expiry of one year from the date of ..... time before the end of the period specified in clause (b), and the provisions of clause (iii) of the proviso to sub-section (1) shall apply in every such case. [subs. by finance act no. 19 of 1968 (w.e.f. 1.4.1968)].(b) the period referred to in clause (a) shall be-(i) where the return relates to a previous year relevant to ..... satisfied that any person-(clause (a) and (b) omitted as unnecessary;)(c) has concealed the particulars of his income or [* * *] (the word 'deliberately' omitted by finance act, 1964 (w.e.f. 1.4.1964)] furnished inaccurate particulars of such income,he may direct that such person shall pay by way of penalty,-..[(iii) in the cases referred .....

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

Court : Supreme Court of India

Reported in : 1996VIIIAD(SC)247; 1997AIHC1543; [1997]223ITR271(SC); JT1996(10)SC47; 1996(7)SCALE870; (1997)1SCC719; [1996]Supp8SCR145

..... rendered, will satisfy the requirement of section 80-0 of the income--tax act?4. provisions similar to section 80-0 of the act were originally available in the former section 85 of the income--tax act, 1961. while moving the bill relevant to the finance act no. 2 of 1967, the then finance minister highlighted the fact that fiscal ..... the respondent filed as annexure-b (page 8 of the supplementary paperbook) is relevant and affords guidance in understanding the purport of section 80-0 the act.:section 80-0 of the income-tax act, 1961--deduction-- royalties, etc., from certain foreign enterprises--in case of receipt of brokerage by reinsurance agent, operating in india ..... agreement submitted by the appellant since the income under the agreement is generated in india and is not received in convertible foreign exchange as required under section 80-0 of the act.6. counsel for the revenue brought to our notice the decision in petron engineering construction p. ltd. and anr. v. central board of .....

Hotel and Allied Trades (P.) Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Reported in : [1996]221ITR619(Ker)

..... , that is, in favour of the assessee and against the revenue. the second limb of the question, namely, after the amendment of section 271(1)(c) and the introduction of explanation thereto by the finance act, 1964, with effect from april 1, 1964, whether the burden of establishing concealment continues to be on the revenue. our answer to ..... of the additional building by way of unaccounted investment and the said amount was included in the income of the assessee under section 69 of the act for the years 1966-67, 1967-68 and 1968-69, that since as a result of these additions the returned income for the above assessment years was far below 80 per ..... the same as the undisclosed income of the assessee for the aforesaid three years. these orders of the assessing authority for the years 1966-67, 1967-68 and 1968-69 were confirmed in appeal by the appellate assistant commissioner. the income-tax appellate tribunal also sustained the orders of the authorities below with the modification that the .....

Assistant Commissioner Wealth Tax Vs. Sultan Brothers (P) Ltd. (Also S ...

Court : Mumbai

Reported in : (1997)58TTJ(Mumbai)562

..... 1991 are by the assessee, wherein the assessee has taken five grounds of appeal in which the assessee has disputed the applicability of provisions of s. 40 of the finance act, 1983 itself.2. we have heard the learned departmental representative as well as assessees counsel. the facts of the case are that the assessee owned a building commonly ..... assessees holding company for hotel business; is deemed to have been used by the assessee for business purpose and therefore, was outside the scope of s. 40 of the finance act, 1983. at the time of hearing, the assessees counsel submitted that in case the revenues appeals fail then he would not like to press these appeals, otherwise, ..... for hotel business was deemed to have been used by the company for its business and consequently the same was outside the purview of the s. 40 of the finance act, 1983.11. as we have dismissed the revenues appeals for both these years, we do not consider it necessary to decide this issue and consequently, the appeals .....

Narsingh Ram Ashok Kumar Vs. Union of India (Uoi) and ors.

Court : Patna

..... similarly situated. we may at this stage also refer to the explanatory notes on the provisions relating to direct taxes in the finance act, 1984, with reference to section 269ss which was inserted in the principal act by the finance act, 1984. it is as follows (see : [1985]152itr1(ap) : '(xxiv) prohibition against taking or accepting certain loans ..... . 32.2 with a view to countering this device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits, the finance act has inserted a new section 269ss in the income-tax act debarring persons from taking or accepting, after 30th june, 1984, from any other person any loan or deposit otherwise than by ..... and farmers who bring produce to mandies for sale. the prohibition contained in section 269ss is confined to loans and deposits only and does not extend to purchase/sale transactions. 32.6 section 276dd inserted in the income-tax act by the finance act, provides that if a person, without reasonable cause or excuse, takes or .....

T.T. Thomas Vs. State of Kerala and ors.

Court : Kerala

Reported in : AIR1997Ker105

..... find any arbitrariness or illegality in the legislation brought out by the kerala legislature. item 3a of the schedule appended to the kerala motor vehicles taxation act 1976 enacted by the kerala finance act, 1994 is valid and it is not open to challenge. 9. petitioners have a case that their vehicles fall within entry 7 in the schedule ..... motor cycle or invalid carriage. omni bus has been defined in clause 29 as any motor vehicle constructed or adapted to carry more than six persons excluding the driver. section 2(33) describes 'private service vehicle' adapted to carry more than six persons excluding the driver and ordinarily used by or, on behalf of the owner of ..... have not been defined in it should have the meaning respectively assigned to them in the motor vehicles act or the rules made thereunder, as per section 2(m) of the act. section 2(21) of the motor vehicles act, 1988 defines 'light motor vehicle' as a transport vehicle or omni bus, the gross vehicle weight of either of which .....

Commercial Tax Officer and Others Vs. M/S. Biswanath Jhunjhunwala and ...

Court : Supreme Court of India

Reported in : 1996VIAD(SC)616; AIR1997SC357; JT1996(7)SC600; 1996(6)SCALE211; (1996)5SCC626; [1996]Supp5SCR286

..... expressly so declares or clearly implies it, the retrospective operation is not controlled by the commencement clause.the court said that the legislature had given to section 18 of the finance act, 1956, only a limited retrospective operation, i.e., upto 1st april, 1956. that provision had to be read subject to the rule, that ..... madras [1962] supp. 2 s.c.r. 716.9. in the case of s.s. gadgil, this court said, and the passages are self-explanatory :section 18 of the finance act, 1956, is, it is common ground, not given retrospective operation before april 1, 1956. the question then is, whether the income-tax officer may issue a ..... state government may make rules, with prospective or retrospective effect, for carrying out the purposes of this act.the ordinance was replaced by the bengal finance (sales tax) (third amendment) act, 1974.4. pursuant to the amendment of section 26(1) of the act, a government notification was issued on 30th march, 1974, amending, 'with effect from the 1st november .....

Commissioner of Income-tax Vs. Gobind Ram

Court : Punjab and Haryana

Reported in : (1996)136CTR(P& H)101; [1996]221ITR892(P& H)

..... 1986, with effect from october 1, 1986. section 269rr provides that chapter xx-a will not apply in relation to transfer of any immovable property after september 30, 1986.7. ..... under section 269d, the proceedings will be dropped if the apparent consideration of the immovable property is below rs. 5 lakhs.' 6. chapter xx-a of the act was made inapplicable in relation to transfer ' of any immovable property after september 30, 1986, and a new chapter xx-c was introduced in the act by the finance act, ..... dated may 16, 1986. subject: acquisition of immovable properties under chapter xx-a of the income-tax act, 1961-guidelines-regarding. the finance bill, 1986, has proposed that no proceedings shall be initiated under section 269c of the income-tax act, 1961, in respect of a property transferred after the 30th day of september, 1986. the bill also .....