Judgment Search Results Home > Cases Phrase: finance act 1968 Court: kolkata Page 7 of about 13,667 results (0.650 seconds)

Calcutta Discount Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1986]161ITR301(Cal)

..... not on the gross dividend ?'2. in view of the provisions contained in section 80aa of the income-tax act, 1961, inserted by the finance (no. 2) act, 1980, with retrospective effect from april 1, 1968, the question must be answered in the affirmative and in favour the revenue.3. miss seal has drawn our attention to a news item published in [1981] 130 ..... ajit k. sengupta, j. 1. in this reference under section 256(2) of the income-tax act, 1961, for the assessment years 1974-75, 1975-76 and 1976-77, the following question has been referred by the tribunal :'whether, on the facts and in the circumstances of .....

Commissioner of Income Tax Vs. Swadeshi Commercial Co. Ltd.

Court : Kolkata

Reported in : (1992)106CTR(Cal)122

..... (as it then stood) were allowed. later, the provision of s. 80m was amended by virtue of provision of s. 80aa by finance (no. 2) act, 1980 which was given retrospective effect from 1st april, 1968. in view of the said amendment to the ito treated the deduction allowed under s. 80m as mistake apparent from the record and proceeded ..... to rectify the said mistake in both the assessment orders under s. 154 of the it act. the objection of the assessee thereto was overruled. the ..... of the case in order to discover the mistake which would be evident from the following observations made by the ito in the proceedings under s. 154 of the it act :'the assessee had income from business, interest, dividend and rent. considering the nature of the activities i feel, that out of expenses incurred by the assessee for .....

Apeejay Structural Works (P.) Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

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 .....

West Bengal State Warehousing Corporation Vs. Commissioner of Income-t ...

Court : Kolkata

Reported in : [1986]157ITR149(Cal)

..... . there, it was held that to claim exemption under section 10(29) (corresponding to section 83 since deleted by the finance (no. 2) act, 1967 with effect from april 1, 1968), it must be proved that the income derived by an authority constituted for the marketing of commodities is income which is derived ..... , then such income is not exempt under that clause. therefore, the income derived by the assessee, a corporation established under the warehousing corporations act, 1962, by way of commission charges for handling the work of loading and unloading of agricultural commodities from the fertillizer and food corporation of ..... commodities ; (c) arrange facilities for the transport of agricultural produce, seeds, manures, fertilisers, agricultural implements and notified commodities to and from warehouses ; (d) act as an agent of the central warehousing corporation or of the government for the purposes of the purchase, sale, storage and distribution of agricultural produce, seeds, manures, .....

The Islampur Municipality and anr. Vs. Chaudhuri M. Manjar Afaque and ...

Court : Kolkata

..... establishing markets for agricultural produce in the state of west bengal. accordingly, in the object it has been stated that earlier in the west bengal markets regulation act, 1968 there was some lacuna in the statute whereby the wholesale traders could be restrained to carry the business within the market yard and also in the market ..... and every phrase of the statute must have a meaning. reliance may be placed to the judgment passed in the case reserve bank of india v. peerless general finance and investment co. ltd. and ors. reported in : [1987]2scr1 , wherein in para 33 the apex court discussed the issue in the following language:interpretation ..... agricultural produce sold in the market area. section 17 reads such:17. levy of fee by market committee.- (1) notwithstanding anything contained in the bengal finance (sales tax) act, 1941 or any other law relating to taxation of agricultural produce in force, the market committee shall levy fees on any agricultural produce sold in the market .....

Ram Kanai Jamini Ranjan Pal Private Ltd. Vs. Member, Board of Revenue

Court : Kolkata

Reported in : [1970]26STC489(Cal)

..... referred to us, namely, 'whether on the facts and in the circumstances of the case, in exercise of his powers under section 20(3) of the bengal finance (sales tax) act, 1941, the additional commissioner was competent to reassess the gross turnover of the petitioner by taking into consideration additional material which had not been made available to the assessing ..... ignore the limitations inherent in the exercise of those powers.8. in a subsequent and later decision of the supreme court in swastik oil mills ltd. v. h.b. munshi [1968] 21 s.t.c. 383 (s.c.), the above view and principle were followed and approved. bhargava, j., rejected the principle of the decision of the andhra pradesh ..... with the view expressed by the decision of the madhya pradesh high court in commissioner of sales tax, m.p. v. caltex (india) ltd. satna a.i.r. 1968 m.p. 191, specially the observations appearing at page 194 in paragraph 6 of that report without a more detailed analysis of the c.p. and berar sales tax .....

West Bengal Financial Corporation and anr. Vs. Gluco Series Private Lt ...

Court : Kolkata

Reported in : AIR1973Cal268

..... , rule 1 of the code of civil procedure inasmuch as a proceeding under section 30 of the industrial finance corporation act, 1948 is a proceeding of the kind contemplated by section 141 of the code of civil procedure.15. learned advocate-generalthen contended that section 32, sub ..... appointed. he referred to me an order passed by a. n. sen, j. on 20-2-1968 in matter no. 732 of 1967 (cal). (industrial finance corporation of india v. agrind febrications ltd.) under the industrial finance corporation act, 1948. where the learned judge appointed ad interim receivers. he also referred me to another orderdated july 20 ..... also stated that there is a recent decision of the patn.a high court reported in : air1972pat83 (industrial finance corporation of india v. thakur paper mills ltd.) where under section 30 of the industrial finance corporation act, 1948. the patna high court has taken the view that court has power to appoint receiver under order 40 .....

Banwarilal Pasari Vs. D.R. Kohli and ors.

Court : Kolkata

Reported in : AIR1972Cal306

..... that inasmuch as it was held in the decision of b. c. mitra, j. in the case of vaishali finance corporation v. d. r. kohli, matter no. 18 of 1968 (cal.), that under the proviso to section 115(2) of the said act an option should have been given to the owner before making the order of confiscation and as in this case ..... in question was passed as mentioned hereinbefore on 28th august, 1967. the petitioner had moved an application which came up for hearing before b. c. mitra, j. in june, 1968 when it was adjourned for a fortnight. b. c. mitra had mentioned that at the first hearing a point was taken that the previous application was incompetent in the absence ..... covered only of cars or vehicles in respect of which there were permits, in other words, in cases of legal hirings. it was urged that under the motor vehicles act hiring out of vehicles or conveyances without a permit was illegal. in the premises it was submitted that in the instant case there having been no permit the instant hiring .....

Mathura Prasad Saraf and ors. Vs. Company Law Board and ors.

Court : Kolkata

Reported in : [1979]49CompCas371(Cal)

..... previous approval of the company in its annual general meeting or of the central government is not necessary under section 372(4) of the act.9. in the premises, the contrary direction given by the ministry of finance, department of company affairs and insurance, in the notification no. g.s.r. 72, dated january 1, 1966, is violative of section 372( ..... fully paid up at the rate of rs. 40 per share from m/s. macneill & barry ltd.4. pursuant to the said authority, on 16th january, 1968, the aforesaid shares were purchased from macneill & barry ltd, at rs. 40 per share by paying a sum of rs. 13,57,560. due to shortage of time between the ..... of production, staff, labour and other affairs of both the gardens would be secured with comparative lesser costs than before. in the premises, by a resolution dated 5th january, 1968, the board of directors of the company unanimously authorised the petitioner no. 2 to purchase in the name of the company those 33,939 ordinary shares of rs. 10 each .....

Siemens (India) Ltd. Vs. Assistant Commissioner of Commercial Taxes

Court : Kolkata

Reported in : [1976]38STC480(Cal)

..... in exercise of his jurisdiction of revision and, secondly, on the construction of the order he passed on the revisional application before him. section 20 of the bengal finance (sales tax) act, 1941, deals with appeal, revision and review. sub-section (1) of section 20 states that a dealer may, in the prescribed manner, appeal to the prescribed ..... for rs. 29,392.98 and the remaining amount was disallowed and added back to balance (a).4. the petitioner being aggrieved by the said order dated 31st august, 1968, and the additions made thereunder preferred an appeal before the assistant commissioner of commercial taxes (south) circle, calcutta, challenging, inter alia, the validity and legality of the ..... a sum of rs. 29,392.98 and rejected the balance amount of rs. 49,82,246.90. the commercial tax officer in his order dated 31st august, 1968, observed, inter alia, as follows:the dealer appeared to have claimed rs. 50,11,639.88 on the ground that the sales were effected in the course of import .....