Judgment Search Results Home > Cases Phrase: finance act 1968 Court: income tax appellate tribunal itat guwahati Page 1 of about 20 results (0.128 seconds)

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 .....

Goyal Trading Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1989)28ITD265(Gau.)

..... was followed. amongst other things, the hon'ble supreme court in the case of jamnaprasad kanhaiyalal (supra) has held that there was nothing' in section 24 of finance (no. 2) act, 1965, which prevented the ito, if he was not satisfied with explanation of the assessee about the genuineness or source of the amount found credited in its books, ..... permissible for the department to go into the question of the nature and source of the amount declared in a voluntary disclosure under section 24 of the finance (no. 2) act, 1965 and to say that the amount did not represent income or declarant. but this decision was overruled by the hon'ble supreme court in another ..... amnesty scheme would not automatically give rise to amnesty to the assessee against enquiries or verification of those facts. there was nothing in section 24 of the finance (no.2) act, 1965, which prevented the income tax officer, if he was not satisfied with explanation of the assessee about the genuineness or source of the amount found .....

Assistant Commissioner of Income Vs. Tea Agency Trading Centre

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2004)88ITD96(Gau.)

..... following the decision of the hon'ble apex court as mentioned above the amount received from insurance company is not, assessable under the head capital gains.subsequently by finance act, 1999, w.e.f, 1st april, 2000, the money received under the insurance policy was brought to tax as capital gain under section 45(1a) of the ..... act. since the case before us is for the asst. yr. 1993-94 the amendment made by the finance act, 1999, is not applicable and accordingly the assessee is not liable to pay capital gains tax.now, the issue remains ..... as to whether the assessee's case falls under section 43 of the it act. the taxation laws (amendment and miscellaneous provisions) act, 1986, has introduced w.e.f. 1st april, .....

Shrimanta Shankar Academy Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

..... income was exempt from the assessment year 1993-94 to 1998-99 under section 10(22) of the act and the claim of the assessee was accepted by the department. the section 10(22) of the act was omitted by the finance (no. 2 ) act, 1998 with effect from 01-04-1999 and for the assessment years 1999-2000 and 2000-2001 the ..... exemption was claimed under section 10(23c)(iiiad) of the act and the returns for the aforestated assessment years were duly filed in ..... response to notices issued under section 142(1) of the act. the relevant particulars .....

Shrimanta Shankar Academy Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2007)109TTJ(Gau.)426

..... its income was exempt from the asst. yrs. 1993-94 to 1998-99 under section 10(22) of the act and the claim of the assessee was accepted by the department. the section 10(22) of the act was omitted by the finance (no. 2 ) act, 1998 w.e.f. 1st april, 1999 and for the asst. yrs. 1999-2000 and 2000-01 the ..... exemption was claimed under section 10(23c)(iiiad) of the act and the returns for the aforestated assessment years were duly filed in response ..... to notices issued under section 142(1) of the act. the relevant particulars for the .....

The Assam State Textbook Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2003)87ITD99(Gau.)

..... capital of the corporation was held by the government of assam represented by the governor of assam, through the secretary, education department, the financial commissioner and secretary, finance department, and the chairman, board of secondary education, in their official capacity. the entire share capital is, therefore, controlled and owned by the government of assam. ..... office of the director of public instructions. in 1950, the name was changed to assam textbook committee with 10 members nominated by the state government. again in 1968, the government constituted it as the board for textbook production and research. in 1972, the board was converted into a corporation by the name of the assam ..... section 10(22) and it was held that if the claim of society which was only a financing body was held not to come within the scope of "other educational institutions" as specified in section 10(22) of the act, it would be unreal and hypertechnical as the object of the society was to establish, run, .....

Bongaigaon Refinery and Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1999)68ITD531(Gau.)

..... of the units.3. in response to show-cause notice of cit, ner, shillong shri p. k.mookherjee, authorised representative and shri s. k. barua, finance manager of the assessee-company appeared and submitted a written reply stating therein that all relevant details relating to the bifurcation of profit amongst the three units of ..... under ss. 80hh and 80-i and, therefore, on these issues, the cit, ner, shillong is justified in setting aside the assessment under s. 263 of it act. according to him, these two sections specifically talk about profit and gains derived from an industrial undertaking which means that separate books of account should be maintained. ..... and co-operative societies are excluded from filing the audit report in the prescribed form since their accounts are required to be audited under the companies act or co-operative societies act. therefore, so far requirement of auditing of accounts is concerned this has to be fulfilled by all the persons claiming special deduction under ss. .....

Asstt. Commissioner of Vs. South Point Montessori School

Court : Income Tax Appellate Tribunal ITAT Guwahati

..... and his wife smt. minati chanda are founder members and hold posts of principal and director of the school respectively. these people enjoy absolute control in matters of administration, finance, appointment of staff and also select other members of the executive committee running the school. (b) that it is not known in what manner sri d.k. chanda ..... difference between the hon'ble members of gauhati bench of i.t.a.t., the above appeals were referred to me under section 255(4) of the income-tax act, 1961 (the act). in fact, i find that there is no difference in five appeals, viz., i.t.a. nos. 389 & 390 (gau)/96 and i.t.a. nos. ..... at the end article (12) provides that in the case of dissolution, the properties remaining will be handed over according to sections 13 and 14 of the societies regulation act, 1860.10. after enquiring into the constitution of the assessee-society, the ld. accountant member observed that all the objects of the assessee-society were educational and surplus generated .....

income-tax Officer Vs. H.S. Chittaranjan

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1993)45ITD273(Gau.)

..... civilian employees of the central government serving in the states and union territories of the north eastern region as per notification of the government of india, ministry of finance, department of expenditure in office memorandum no. 20014/3/1983-e-iv dated 14-12-1983. it was also contended that the allowance was in pursuance of ..... casual then in such a eventuality this clause has no application whatsoever. neither the word "casual" nor the word "non-recurring" has been defined under the income-tax act and these words must, therefore, be understood in their plain and ordinary sense.however, the definition of the word "casual" in the oxford universal dictionary means "(i) ..... the dcit(appeals) that the sda at the most could be treated as a casual and non-recurring receipt being exempt under section 10(3) of the act. the dcit(appeals) agreed with the submissions made before him and directed the assessing officer to delete the said addition. the assessing officer not being satisfied with .....

Deputy Commissioner of Vs. Assam Frontier Tea Ltd.

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1993)47ITD179(Gau.)

..... of law, the tribunal is constituted the final authority on facts and the penultimate authority on law touching the assessment and other proceedings under the income-tax act. the primary purpose of the statute is to levy and collect the income-tax. this is based on the cardinal principle, which has been incorporated as ..... in england, that the authorities sitting in appeal in a tax case, cannot be regarded as deciding a lis, but they are only engaged in an administrative act of adjusting the taxpayer's liability. under our fiscaljurisprudence, we may regard the appellate authorities as exercising quasi-judicial functions in the same sense as a taxing officer ..... court, following the supreme court judgment in mahalakshmi textile mills ltd. 's case (supra), has taken the view that there is nothing in the income-tax act which restricts the tribunal to the determination of the questions raised before the assessing authority and that it was open to the tribunal to consider all matters relating .....