Judgment Search Results Home > Cases Phrase: finance act 1968 Court: guwahati Page 10 of about 1,201 results (0.087 seconds)

Assam Frontier Tea Ltd. and anr. Vs. Inspecting Assistant Commissioner ...

Court : Guwahati

..... assessment year. in other words, the tax is assessed and paid in the next succeeding year on the total income of the previous year at the rate fixed by the finance act of the relevant year of assessment. 26. but, should the change in the previous year be allowed even though such permission results in loss of revenue. it is not disputed ..... previous year for the assessment year 1952-53 and that the total income for the period, of 21 months had to be assessed at the rate specified in the relevant finance act for that total income and the income-tax officer could not apply the rate applicable to the income of the last period of 12 months. therefore, it can no longer ..... the length of the previous year is determined, the total income of the previous year relevant to the assessment year must be assessed at the rate specified in the relevant finance act and at no other rate. 25. it is contended by learned counsel that there is a difference in the language employed in the charging sections of the .....

Ampee Industries (P) Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

..... 139(10), which was incorporated by the taxation laws (amendment and miscellaneous provisions) act, 1986, with effect from april 1, 1986, and later on deleted by finance act, 1990, with effect from april 1, 1990. as per the provisions of sections 139(10) of the act, the return of income which shows the total income below the maximum amount ..... we quote the relevant portion of the tribunal's judgment : 'as indicated above, section 139(10) provides that notwithstanding anything contained in any other provision of this act, a return which shows the total income below the maximum amount not chargeable to tax shall have to be ignored. in other words, it is seen that this ..... at the instance of the assessee, the following two questions have been referred by the income-tax appellate tribunal under section 256(1) of the income-tax act, 1961, (for short, 'the act'), for opinion of this court : '(i) whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding .....

Jyoti Forge and Fabrication and anr. Vs. State of Assam and ors.

Court : Guwahati

Reported in : (2010)31VST76(Gauhati)

..... 23 (gauhati) : (1988) 2 glr 285 the question of interpretation of section 12(1) of the assam finance (sales tax) act, 1956 was under consideration. undisputedly the provisions of section 12(1) of 1956 act are pari materia with the provisions of 1993 act. in the said matter of bhauram jodhraj & co. (1989) 75 stc 23 (gauhati) : (1988) 2 ..... appellate or revisional authority can extend the period of limitation if same has expired. it was also contended that the provisions contained in section 37 of the act are mandatory in nature and if the limitation for the first authority during the pendency of the revision or appeal has expired then an order of remand ..... authority nor was it entitled under its revisional jurisdiction or under the provisions of law to extend the period of limitation as provided under section 37 of the act. the board of revenue, however, did not agree with the contention raised by the appellant-writ petitioner and dismissed the appeal. the appellant-writ petitioner still .....

George Williamson (Assam) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1991)37ITD392(Gau.)

..... us for our consideration. as stated earlier, the assessee claimed weighted deduction under section 35b which was introduced in the statute with effect from 1-4-1968 by the finance act 1968. among other things, section 35b prescribed certain weighted deduction to be allowed to the assessee if such assessee has incurred any expenditure as mentioned in the ..... the promotion of sale outside india of such goods, services or facilities as may be prescribed". section 35b itself was introduced in the statute by the finance act 1968 with effect from 1 -4-1968. but what would be "such other activities" nothing was provided. at a later stage, rule 6aa of the income-tax rules, 1962 was ..... . in the case of ito v. m.c. ponnoave [1970] 75 itr 174 the hon'ble supreme court had occasion to deal with section 4 of the finance act, 1963 which was substituted by a new definition of "tax recovery officer". the provision, as amended, empowered the state government to authorise by notification certain land revenue .....

Smt. Lili Bora Vs. Smt. Nishi Rani Hazarika and ors.

Court : Guwahati

..... to pay compensation, which has been determined in this appeal.18. from the evidence of the district transport officer, darrang, it also transpires that the vehicle, in question, was financed by the respondent no. 3 herein, namely, m/s. onkarmal sankarlal, calcutta, and the respondent no. 2, namely, m/s jindal and co. is the person, ..... said three specified modes of agreement, namely, (i) hire-purchase agreement, (ii) agreement of lease, or (iii) agreement of hypothecation. thus, while under the m.v. act, 1939, even a person, who might have had stolen a vehicle and committed an accident, could have, perhaps, been regarded as the owner of the vehicle, for, he had ..... grievous injuries as a result of the said accident and succumbed to her injuries at the hospital.3. the claimant, then, made an application under section 166 of the mv act, 1988, and sought for a sum of rs. 5,00,000/- as compensation. a claim proceeding was accordingly initiated against one nishiranl hazarlka, who is respondent no. .....

Hardeodas Jagannath Vs. Income-tax Officer, Shillong, and Others.

Court : Guwahati

..... on may 26, 1940, a notification was issued under section 92(1) government of india act, 1935 extending the indian finance act of 1940 to that area. the returns were submitted by the assessee to the income-tax officer and the assessments were completed on march 9, 1941. ..... return in the prescribed from. on the april 22, 1940, a notice under section 22(1) income-tax act was published in the newspapers requiring persons generally to submit the returns in the prescribed form. the indian finance act of 1940 had not been extended by any other notification up to that time to this partially excluded area. ..... to the validity of the notification issued by the governor and the applicability of the income-tax act to the excluded areas. one of the contentions raised was that the notification of may 26, 1940, by which the indian finance act was made applicable to the excluded areas was issued after the notices had been issued under section .....

Maud Tea and Seed Company Ltd. Vs. Agricultural Income-tax Officer and ...

Court : Guwahati

..... the province of assam section 5) and it provides by the charging section (section 3) that agricultural income-tax at the rate specified in the annual assam finance acts shall be charged for each financial year on the total agricultural income of the previous year. the part of the definition section (section 2) which is relevant ..... at such rates as may be laid down from year to year in the annual assam finance acts. section 8 of the act deals with the determination of agricultural income mentioned in clause (a) of sub-section (2) of section 2 of the act. the second proviso to the section is important and may be extracted: 'provided further that ..... follows : '3. agricultural income-tax at the rate or rates specified in the annual assam finance acts subject to the provisions of section 6 shall be charged for each financial year in accordance with, and subject to, the provisions of this act on the total agricultural income of previous year of every individual. hindu undivided or joint family, .....

Rejesh Mehendi Ratta Vs. Commissioner of Taxes and ors.

Court : Guwahati

..... district of tinsukia. the assessment of the petitioner for the period ending 30.9.1988 under the assam finance (sales tax) act, 1956 was completed by the respondent no. 3, superintendent of taxes, tinsukia on 25.4.1991 under section 9(4) ..... of the assam finance (sales tax) act, 1956 summarily on the basis of the report of the inspector of taxes the turn over of the petitioner was ..... error. if tax has escaped assessment due to concealment, the proper recourse is to reopen the assessment under section 18 of the act. this is precisely what was attempted to be done but was abandoned subsequently. if on the given facts, the power under section ..... the same set of facts the power under section 36 can be execised. the powers under both the aforesaid two provisions of the act, namely section 18 and 36 operate in two different fields and is vested into two different authorities. to permit the revisional authority .....

Bharat Ferrous (P) Ltd. Vs. Union of India (Uoi)

Court : Guwahati

..... of excise duty in violation of the provisions of law.4. section 3a was inserted by the finance act of 1997 providing for determination of annual capacity of production of a factory for levy of excise duty. the central excise act, 1944 thus stood amended providing for powers with the central government to make rules for determination of ..... the annual capacity of production for levying of excise duty. sub-section (2) of section 3a of the central excise act, 1944 vested powers with the central government to make rules for determination of annual capacity of production. in exercise of this power, the central government made the ..... sum payment of duty as indicated in sub-rule (3), such manufacturer/assessee is not entitled to the benefit under sub-section (4) of section 3a of the act of 1944. however, in my considered opinion, the petitioners' case can be considered for abatement if it is covered by the second proviso quoted above. the provisions .....

Sundaram Mahadeo Vs. Commissioner of Income-tax

Court : Guwahati

..... the circumstances of the case, the tribunal was legally correct in applying the provisions of the explanation to section 271(1)(c) of the income-tax act, 1961, as introduced by section 40 of the finance act, 1964 ?'2. the facts of the case may be briefly stated as follows i the relevant assessment year relates to 1964-65. the assessee-filed ..... the instant case fell short of 80 per cent. of the assessed income and hence the default was covered by the new explanation inserted by section 40 of the finance act, 1964. the inspecting assistant commissioner after having heard the petitioner levied a penalty of rs. 6,500 under section 271(1)(c) of the income-tax ..... , that such expenses claimed by the assessee without mentioning in the return itself came within the purview of the explanation to section 271(1)(c) of the income-tax act, 1961, and that even assuming that there were certain other items also, which could not form part of the subject-matter of penalty under the explanation to section 271 .....