Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Mar-06-1989
Reported in : (1989)29ITD1(Kol.)
..... original assessments for the assessment years 1977-78 and 1978-79, section 80aa came to be inserted by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 in the income-tax act, 1961 (for brevity the act) which in substance provides that deduction allowable to a company under section 80m should be computed not on the ..... was that the gross dividend was to be allowed as a deduction under section 80m. subsequently, the parliament by enacting section 80aa by finance (no. 2) act of 1980 with retrospective effect from 1-4-1968, provided that: where any deduction is required to be allowed under section 80m in respect of any income by way of dividends from ..... of the rectification order in a writ petition in the high court. the high court set aside the order by holding that whether the retrospectivity given by the finance act would cover completed assessments or would apply to pending assessments was a debatable point and since it was a debatable point, there could not be said to .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta
Decided on : Sep-13-1989
Reported in : (1990)(26)LC248Tri(Kol.)kata
..... basak, proprietor, m/s. minar jewellers on 1st august, 1980 before the gold control administrator, ministry of finance, department of revenue, new delhi, under section 80 of the gold (control) act, 1968 (hereinafter to be referred to as 'the act', for short) being aggrieved from an order no. 25 (gold) 78/5 of 1980 passed by collector ..... primary gold and gold ornaments so recovered were not recorded in the g.s 13 register required to be maintained by shri basak under the gold (control) act, 1968 and the rules framed thereunder. shri chand mohan basak could not produce any evidence, documentary or otherwise, in support of his bona fide acquisition and possession of ..... the gold and gold ornaments weighing altogether 664.800 gms were, therefore, seized for contravention of the provisions of the gold (control) act, 1968 along with three private account books, two g.s. 13 registers of shri pradip kumar basak and two g.s. 13 registers of shri chand mohan basak.3 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Mar-09-1989
Reported in : (1989)29ITD15(Kol.)
..... hands of the assessee 38. the gujarat high court considered the provisions of section 164 as it stood before the amendment introduced with effect from 1-4-1970 by the finance act, 1970. section 164 which was considered. by the gujarat high court was as follows : 164. where any income in respect of which the persons mentioned in clauses ..... (including surcharge on income-tax, if any) applicable in relation to the highest slab of income in the case of an association of persons as specified in the finance act of the relevant year.23. as has already been pointed out above, the assessees' case falls under the main section, i.e., section 164(1). in the ..... tax (including surcharge on incomes, if any) applicable in relation to the highest slab of income in the case of an association of persons as specified in the finance act of the relevant year. in support of the contention that the assessees before us should be assessed in the status of an association of persons, learned departmental representative .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Feb-03-1989
Reported in : (1989)29ITD495(Kol.)
..... foreign projects.therefore, the project-wise calculation done by the ito was correct and the deduction allowed by the ito was also correct. the department of revenue, ministry of finance, government of india informed the c & ag that relief under section 91 was properly allowed to the appellant-company in the year under appeal.25. as against the ..... two letters dated 24-3-1988 and 5-7-1988 appearing at pages 105 and 104 respectively of paper book no. 1. these are letters of the ministry of finance, department of revenue not accepting audit objections. the central board of direct taxes made it clear to the joint director (ra), office of the c & ag of ..... the foreign accounts and each foreign project is required to be cleared separately under the foreign exchange regulations act, 1973 and the rules made thereunder.15. section 80ab was introduced in 1980 with effect from 1-4-1981 by the finance (no. 2) act, 1980. the purpose and objects of this section are fully explained by the central board of .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta
Decided on : Sep-13-1989
Reported in : (1989)(25)LC500Tri(Kol.)kata
..... ,800.00. he had no cash memo and valid vouchers for dealing with such ornaments. thus he violated the provisions of sections 27(7)(b) and 55 of gold control act, 1968. the aforesaid sri ashok kumar rastogi, s/o sri ram nath rastogi of chowranghigali, muradabad, u.p. gold dealer licence no. 1/69 is required to show cause to ..... were also submitted.5. after adjudication of the case by granting personal hearing to the appellant the ld. collector confiscated the gold ornaments under section 71 of the gold control act, 1968 and gave an option to redeem it on payment of fine of rs. one lakh and further imposed a penalty of rs. thirty thousand on the appellant. it is ..... /84/2152 dated 4-4-1985, issued notice to show cause for the violation of the provisions of section 27(7)(b) and section 55 of the gold (control) act, 1968, allegating that he is a gold dealer and alleging to have gold dealer licence bearing no. 1/69. the appellant challenged the notice to show cause and submitted proper defence .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta
Decided on : Oct-30-1989
Reported in : (1990)LC395Tri(Kol.)kata
..... down by the supreme court in the said decision, a division bench of this court, while dealing with a seizure under section 79 of the gold (control) act, 1968 (of which provisions are in pari materia) held that: "it is significant that the statute requires that the notice must be given within six months which ..... proceedings. a quasi-judicial authority in exercising quasi-judicial powers cannot take advantage of its own illegality. the whole object of section 110(2) of the act becomes nugatory and meaningless if by contravening the mandatory provisions of the statute, the collector of customs confiscates the goods seized which he has no right to ..... (p) 84 dated 24-7-1985 passed by learned additional collector of customs (preventive), indo-nepal border, muzaffarpur, imposing penalties under section 112 of the customs act, 1962 on the above three appellants, and also ordering absolute confiscation of the properties seized in the case valuing at rs. 2,87,341/-, the above mentioned appellants .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta
Decided on : Sep-06-1989
Reported in : (1990)LC563Tri(Kol.)kata
..... all considered in the order.16. further, the learned additional collector has not adverted to the letter written by the director of royal govt. of bhutan in the finance department wherein the director has requested the learned collector for return of the car to major sunuwar as the car belongs to him. the letter reads as follows :- this ..... been submitted by shri hemraj agarwalla. lastly, she prayed for personal hearing.7. after adjudication the learned additional collector confiscated the seized car under section lll(d) of customs act, 1962 and imposed a penalty of rs. 2000/- each on mrs. c.s. lama and shri hemraj agarwalla against which order these two appeals are filed.8. ..... car for confiscation for the above said violations and that to show cause why penalty should not be imposed on the above persons under section 112 of the customs act, 1962. in reply to the show cause notices, the above three persons submitted their replies.4. shri hemraj agarwalla vide his reply dated 17-3-1987 denied .....
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