Court : Madhya Pradesh
Reported in : 1978MPLJ530
..... the answer to the question must be in the affirmative. it is a general principle of the income-tax law that income-tax is charged according to the relevant finance act. the finance acts of 1960 and 1961 define the total income to mean total income as determined for the purpose of income-tax or super-tax, as the case may be, in ..... before april 1, 1960?'2. the assessee purchased new transport vehicles before 1st april, 1960, and claimed development rebate under section 10(2)(vib) of the income-tax act, 1922, for the assessment years 1960-61 and 1961-62. the claim for development rebate was refused by the income-tax authorities relying on the proviso which was added ..... accordance with the provisions of the income-tax act. by 'the income-tax act' is meant the act as in force on 1st april of the assessment year : see maharajah of pithapuram .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1982)31CTR(MP)188; [1982]137ITR329(MP)
..... expression used in the definition of 'industrial company' under section 2(6)(d) of the finance act, 1968. (the definition of 'industrial undertaking' under the explanation to section 5(1)(xxxi) is identical with the definition of 'industrial company' under the finance act, 1968). the assessee-company was a printer and publisher of a fortnightly journal, sales tax cases. ..... v. mubarakali khan : [1980]123itr101(all) considered the expression 'industrial undertaking' as defined in the explanation to section 5(1)(xxxi) of the w.t. act. in the above case the assessee was a partner in two firms which were engaged in the manufacture of biris. the firms in which the assessee was a ..... a partnership firm, m/s. mehta & company, petlawad. for the assessment year 1977-78, the assessee claimed exemption under section 5(1)(xxxi) of the w.t. act, 1957, in respect of her capital invested in the firm, m/s. mehta & company, petlawad. according to the assessee the above firm was an 'industrial undertaking' and .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1997]226ITR449(MP)
..... patna) , and thus affirmed the orders passed by the commissioner of income-tax (appeals). section 43b was inserted by the finance act, 1983, with effect from april 1, 1984. the proviso to this section was inserted by the finance act, 1987, with effect from april 1, 1988. the tribunal, however, held that the amendment was declaratory in nature and ..... in i. t. a. no. 1151/ind. of 1988-mantri brothers v. ito. aggrieved, the applicant/revenue filed applications under section 256(2) of the act. the applications were rejected. as the tribunal declined to state the case and refer the question, and held that no referable question was in existence, the applicant filed ..... :'(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from april 1, 1988, in section 43b of the income-tax act by exceeding its jurisdiction in reading more than what parliament has expressly provided. (ii) that the taxing statute is passed after great scrutiny and the tribunal erred .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1997]224ITR338(MP)
..... of the facts and on reliance on circular and the provisions of law. section 40a(8) now stands omitted by the finance act, 1985, with effect from april 1, 198g. earlier this provision was inserted by the finance act, 1975, with effect from april 1, 1976. according to this provision as it was in force at the relevant time, ..... the department then filed, an application before this court under section 256(2) of the act which was registered as miscellaneous civil case no. 141 of 1986. this court directed the tribunal on september 22, 1988, to state the case and refer the question ..... in the nature of running current accounts (annexure 'c'). the department felt dissatisfied by the order passed by the tribunal and presented applications under section 256(1) of the act which were registered as r. a. nos. 86 to 88/(ind) of 1985. these applications were rejected by the tribunal on december 6, 1985 (annexure 'd'). .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1996)135CTR(MP)70; [1996]220ITR517(MP); 1996(0)MPLJ885
..... patna) , and thus affirmed the orders passed by the commissioner of income-tax (appeals). section 43b was inserted by the finance act, 1983, with effect from april 1, 1984. the proviso to this section was inserted by the finance act, 1987, with effect from april 1, 1988. the tribunal, however, held that the amendment was declaratory in nature and ..... i) that the tribunal erred in law in giving retrospective effect to the amendments effective from april 1, 1988, in section 43b of the income-tax act by exceeding its jurisdiction in reading more than what parliament has expressly provided.(ii) that the taxing statute is passed after great scrutiny and the tribunal erred ..... connected matters. these miscellaneous civil cases are registered on the applications of the commissioner of income-tax, bhopal, presented under section 256(2) of the income-tax act, 1961, and contain the under noted question, categorised as one of law, for direction to the tribunal to state the case and refer the same for our .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1996)134CTR(MP)100
..... of india : [1991]189itr70(patna) and thus affirmed the orders passed by the cit(a). sec. 43b was inserted by the finance act, 1983 w.e.f. 1st april, 1984. proviso to this section was inserted by the finance act, 1987 w.e.f. 1st april, 1988. the tribunal, however, held that the amendment was declaratory in nature and was ..... on the order passed in ita no. 1151/ind/88 (mantri brothers, neemuch vs. ito). aggrieved, the applicant/revenue filed applications under s. 256(1) of the act. the applications were rejected. as the tribunal declined to state the case and refer the question, and held that no referable question was in existence, the applicant filed ..... in these applications :'(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from 1st april, 1983 in s. 43b of the it act by exceeding its jurisdiction in reading more than what the parliament has expressly provided.(ii) that the taxing statute is passed after great scrutiny and the tribunal erred .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1983MP53
..... are members of the haj committee or the railway users' consultative committee could not be regarded as persons having knowledge of administration, finance or law within the meaning of clause (c) of section 11 of the act as there is neither any nexus nor any relative direct or indirect link between the sphere of activities of respondent no. 3 ..... 11 and the duties and functions of the members constituting a board. it may be noted that the words 'administration', 'finance' or 'law' occurring in clause (c) of section 11 have not been defined in the act. here we do not intend to attempt to give any meaning or definitions of these words which are in any way exhaustive ..... any one of the three requirements, that is to say, the knowledge of administration, finance or law so as to enable them to exercise their powers and duties under the act more effectively so as to achieve the main and dominant objective under the act, it is for this reason that the legislature in its wisdom deemed it necessary to .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1960MP330; [1961]43ITR184(MP)
..... counsel also submitted that assuming that the obligation under article 295(1)(b) could be taken away by legislation, the general provisions of the income-tax act, finance act and the taxation concessions order could not be construed as abrogating the exemption granted to the petitioner under a special law, viz., the order of the ..... petitioner that there being thus a constitutional obligation on the government of india to exempt the petitioner from taxation the relevant provisions of the indian income-tax act, finance act of 1950, and the taxation concessions order, 1950, purporting to authorise imposition of tax on the petitioner, company so as to abrogate the exemption were ..... was incompetent to abrogate the exemption by legislation; and, if it was not incompetent, whether the language used in the relevant provisions of the income-tax act, finance act of 1950 and the taxation concessions order, 1950, was adequate for the purpose.on some of the points arising in the case, the guidance and the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1976]103ITR499(MP)
..... its total income on the basis that its income prior to april 1, 1960, was not taxable under section 14(3) of the income-tax act, as it stood prior to its amendment by the finance act, 1960, which came into force with effect from april 1, 1960. it was contended that the amended section would be applicable only in respect ..... so, the claim for exemption by the assessee based under section 14(3)(i)(c) of the indian income-tax act, 1922, was not well founded.7. the provisions of section 14(3) of the income-tax act, as amended by the finance act, 1960, so far as relevant, are as follows :'(3) the tax shall not be payable by a co ..... into rice. but even after such conversion and change, rice remains in the class of ' agricultural produce '. the term 'agricultural produce' has not been defined in the income-tax act and, therefore, we have to adopt the meaning as commonly understood and incorporated in the dictionaries. 'wheat' and 'rice', etc., are such commodities which are commonly known as ' .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2004]267ITR450(MP)
..... was pronounced by the supreme court on august 1, 2000. subsequent to this judgment, an explanation 1 has been substituted in section 234b of the act with effect from april 1, 1989, by the finance act, 2001. the said explanation has been made effective retrospectively with effect from april 1, 1989. by this explanation 1 it has been clearly mentioned ..... question of law is involved in this appeal and the connected appeals. there is no dispute as to the fact that explanation 1 substituted in section 234b of the act was not brought to the notice of the tribunal or due to oversight it escaped its notice. on bringing this fact to its notice, the tribunal has rectified ..... order passed by the income-tax appellate tribunal, indore bench.3. all these appeals have been preferred by the assessee under section 260a of the income-tax act, 1961 (for short 'the act'). the original order by the tribunal was passed in the appeal preferred by the revenue. the said order of the tribunal was based on a judgment .....
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