Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jul-04-1984
Reported in : (1984)10ITD542(Kol.)
..... for the year 1978-79 was also framed by the same officer on 30-1-1980. thereafter, the finance (no. 2) act, 1980 came into force and by that act section 80aa of the act was inserted in the act with retrospective effect from 1-4-1968. according to section 80aa, net amount and not the gross amount of the dividends is allowed to be ..... signal industry (p.) ltd. for the assessment year 1978-79-against the order of the commissioner of even date 8-1-1982 under section 263 of the income-tax act, 1961 ('the act'), common issues are involved and, therefore, they are disposed of by this common order.2. assessments of income of apeejay structural works (p.) ltd. for both the ..... deducted under section 80m of the act. since there was no such provision at the time of framing the assessments in .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta
Decided on : Oct-29-1984
Reported in : (1985)LC12Tri(Kol.)kata
..... (rupees fifteen thousand only). except for this modification, the appeal is rejected.7. the revenue has filed a cross objection under section 81 (5) of the gold control act, 1968, which was presented in the registry on 8th august, 1983. the order of the ld. collector of central excise is dated 6th november 1978. before the formation of the ..... gold and gold ornaments from the appellant's shop premises and seized the said gold and gold ornaments for the alleged contravention of the provisions of the gold control act, 1968. the private books of accounts revealed the transactions of gold and gold ornaments for rs. 88,660/ weighing 1364.040 gms. on 20 12 1977 a ..... of finance, department of revenue and insurance, new delhi being aggrieved from order no. 73 (gold) 77/11 of 1978 dated 6 11 1978 passed by the collector of central excise, calcutta. after coming into existence of the tribunal, the said appeal stands transferred to the tribunal under section 82 (a) of the gold control act, 1968 and is .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Oct-09-1984
Reported in : (1985)13ITD288(Kol.)
..... their lordships of the hon'ble supreme court in bhikaji dababhai's case (supra). their lordships were interpreting in that case sub-section (1) of section 13 of the finance act, 1950 which saved the law relating to income-tax or super tax, which was in force in any part b state before 1-4-1950 for the purposes of ..... aac was not competent. on a reference, the high court held that the appeal was competent, but the provisions relating to the imposition of penalty were not saved by the finance act and, therefore, the order imposing the penalty was bad. on an appeal to the supreme court, it was held (reversing the decision of the high court): that penalty ..... imposed upon them and later by an order levied a penalty. in the meantime, the state of hyderabad merged with the indian union and the indian legislature by the finance act, 1950, provided that the law existing in the said state would cease to have effect except for the purposes of levy, assessment and collection of income-tax and super .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Nov-30-1984
Reported in : (1985)12ITD647(Kol.)
..... as the said proviso was not in force on 1-4-1946 and that the liability of the company had to be determined as on 1-4-1946, when the finance act, 1946 came into force.the above finding of the bombay high court was approved by their lordships of the hon'ble supreme court, who pointed out, inter alia, that ..... its nature.7. where there is an amendment of substantive law, it is normally not retrospective unless the amending act itself makes it retrospective as in the case, for example, sub-section (1a) of section 80j of the act introduced by the finance (no. 2) act, 1980. in the present case, the amendment to item no. 9 in group d in appendix i of ..... on the fact whether the amendment in the depreciation table is procedural in nature or is it an amendment of the substantive law. section 32 of the income-tax act, 1961 ('the act'), provides for depreciation at the rates as may be prescribed. rule 5 of the rules, which has been formulated in pursuance of the provisions of section 32, stipulates, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Mar-24-1984
Reported in : (1984)8ITD537(Kol.)
..... . it was to be part of the total income and was to be assessed in accordance with the procedures of the 1961 act and subjected to tax at the rates prescribed in the respective finance acts. as the declaration merely provided information to the ito and did not suo moto bring into existence an assessment or reassessment proceeding, ..... section, credit, therefore, shall be given to the declarant in the assessment made under the wealth-tax act for that year'. 1. section 16 of the 1976 act provided immunity to the declarant from penalty, prosecution, etc., under the customs act, 1962, and the gold (control) act, 1968, on fulfilment of certain conditions specified therein. 2. section 17 of the said ..... assessment years 1958-59 to 1967-68 allowed partial relief to the assessee with regard to the valuations of the said properties. the appeals for the assessment years 1968-69 to 1974-75 have not yet been decided by him.5. as the assessee was not satisfied with the aforesaid decision of the aac and felt .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Feb-18-1984
Reported in : (1984)8ITD738(Kol.)
..... wealth-tax assessment is completed, the liability to income-tax has to be computed on the basis of the return filed and the rates of tax stipulated in the relevant finance act. but if the income-tax assessments, in question, have already been completed, the tax quantified through such assessment orders would be the debt. this logic has been carried ..... while computing the asseesee's net wealth--kesoram industries & cotton mills ltd. v. cwt [1966] 59 itr 767 (sc) and also h.h. setu parvati bayi v. cwt [1968] 69 itr 864 (sc). the quantification of the said debt does take place after the valuation date but this quantum is in respect of the debt which existed on the ..... the wto noticed that he had been granted the following refunds:assessment year date of completion of amount of refund assessment determined1964-65 27-2-1968 2,5011965-66 31-7-1968 1,60,8991966-67 30-8-1968 38,9631967-68 2-6-1969 7,648 similarly, the second assessee, shri gobindlal bangur, was found to have been granted the refunds .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Apr-26-1984
Reported in : (1984)10ITD88(Kol.)
..... of section 155(13). much reliance was placed by the learned counsel for the assessee on section 155(13). but, as we see, section 155(13) was inserted by the finance act, 1975, which took effect from 1-4-1975, but the previous year relevant to the assessment year under appeal ended on 31-3-1974. we are, therefore, of the ..... and the only ground raised before the aac was that the assessee was entitled to deduction of rs. 81,497 being liability for gratuity incurred under the payment of gratuity act, 1972 and provided in the accounts for the year on the basis of actuarial valuation. therefore, the aac had occasion to consider the admissibility of the deduction regarding ..... law as well as on facts in holding that the provision for initial contribution to an approved gratuity fund is deductible under section 36(1)(v) of the income-tax act, 1961 ; 3. that, the commissioner of income-tax (appeals), erred in law in allowing the deduction of rs. 3,17,911 on account of provision for gratuity liability .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Sep-29-1984
Reported in : (1985)11ITD375(Kol.)
..... the companies. under this scheme, any company may make deposit with bank in lieu of payment of surcharge on income-tax under sub-section (6) of section 2 of the finance act, 1976, at any time before the last instalment of advance tax is due in its case. in the case of the assessee, the last instalment for payment of advance tax ..... directed against the order of the commissioner (appeals) dated 16-12-1982, by which he confirmed the order passed by the ito under section 154 of the income-tax act, 1961 ('the act').2. while making the original assessment, the ito had given credit for the deposit of rs. 26,638 made on 15-12-1976 under the companies deposit (surcharge on ..... case of the assessee, advance tax was payable in three instalments on 15-6-1976, 15-9-1976 and 15-12-1976 as per section 211(1)(i) of the act. he, therefore, urged that since the assessee deposited the amount on 15-12-1976, it was to be treated that payment of advance tax was made before the due date .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Aug-10-1984
Reported in : (1985)11ITD577(Kol.)
..... unit has not been formed by the splitting up or reconstruction of the existing unit, the building or machinery for the unit are all new and the new unit is financed by additional capital, it would be entitled to relief under section 80j. the gujarat high court in the case of shree digvijay cement co. ltd. (supra) held ..... to cover the requirement of the distribution system ranging between ii kv. and 33 kv. for this, a collaboration agreement was entered with melco of japan on 30-7-1968. another agreement (entitled 'extension of technical assistance agreement for relay project') was made on 2-12-1975 between melco and the assessee. by this agreement, the original agreement ..... (appeals) on this point.6. the next common ground pertains to the allowability of the assessee's claim for relief under section 80j of the income-tax act, 1961 ('the act') in respect of new range relay department. the relay department was established in the year 1970 and production began in 1970-71. up to march 1976, very .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta
Decided on : Mar-05-1984
Reported in : (1985)(19)ELT224Tri(Kol.)kata
..... liabilities under the repealed law but whether it had taken away those rights and liabilities.there is no doubt in our mind that the new enactment, the gold control act, 1968 kept alive the rights and liabilities under the repealed laws and that an offence or an action that constituted an offence under the repealed law continued to be an ..... under the repealed law must be held to continue.5. for ascertaining whether there was contrary intention it was necessary to look at the provisions of the gold control act, 1968. in order to see whether the rights and liabilities under the repealed law had been put an end to by the new enactment, the correct approach was not ..... stated that this is also an important point of law. he, therefore, said that a reference is required to be made under sec. 82b of the gold control act, 1968.2. the counsel for the department said that there was no need for any reference whatsoever. when the collector did not make investigations to determine from the persons whose .....
Tag this Judgment!