Judgment Search Results Home > Cases Phrase: finance act 1968 Sorted by: recent Court: orissa Page 1 of about 4,980 results (0.078 seconds)

Commissioner of Income-tax Vs. Prathi Hardware Stores

Court : Orissa

Reported in : [1993]203ITR641(Orissa)

..... 1964. an explanation was inserted at the end of sub-section (1) of section 271 by the said finance act (section 40 of the finance act, 1964). in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the quantum of tax sought ..... to be avoided under the then existing provisions. subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). four explanations were substituted for the explanation introduced by the finance act ..... tribunal suffer from infirmity on account of relevant materials and evidence being ignored.7. a conspectus of the explanation added by the finance act, 1964, and the subsequent substituted explanations makes it clear that the statute visualised the assessment proceedings and penalty proceedings to be .....

S. Ramamurty Das and Partners Vs. Commissioner of Income-tax

Court : Orissa

Reported in : 74(1992)CLT202; [1992]197ITR344(Orissa)

..... , with effect from april 1, 1971. there was a further change in section 271(1)(c) in clause (iii) by the finance act, 1968, with effect from april 1, 1968. prior to the amendment, the penalty leviable was with reference to a certain percentage of the tax sought to be avoided by concealment of the particulars of income or furnishing ..... passed on march 20, 1979.6. several changes have been introduced in section 271(1)(c) and section 274 of the act. we shall deal with them so far as they are relevant for the case at hand. by the finance act, 1964, the word ' deliberately' which occurred in clause (c) of section 271(1) was deleted and an explanation was inserted ..... at the end of sub-section (1) of section 271 which is not very material for us. sub-section (2) of section 274 of the act was amended by the taxation laws (amendment .....

Commissioner of Income-tax Vs. Utkal Flour Mills

Court : Orissa

Reported in : [1991]190ITR139(Orissa)

..... this reference has been made to this court. 5. before the direct tax laws (amendment) act, 1987, with effect from april 1, 1989, section 139(4)(a) which was substituted by the finance act, 1968, with effect from april 1, 1968, and amended by the taxation laws (amendment) act, 1970, with effect from april i, 1971, stood as under :'4 (a) any ..... from the end of such assessment year ;(ii) where the return relates to a previous year relevant to the assessment year commencing on the 1st day of april, 1968, three years from the end of the assessment year ;(iii) where the return relates to a previous year relevant to any other assessment year, two years from the ..... before the tribunal that the decision of the supreme court is no more applicable in view of the amendment made to section 139 by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. according to the departmental representative, the return was not filed either within time provided under section 139 or within such .....

Commissioner of Income-tax Vs. S. Samantasinghar and anr.

Court : Orissa

Reported in : [1988]173ITR425(Orissa)

..... which would have been avoided if the income as returned by such person had been accepted as the correct income. '8. this was substituted by the finance act, 1968, with effect from april 1, 1968, by the following clause :'(iii) in the cases referred to in clause (c), in addition to any tax payable by him, a sum which shall ..... .17. strong reliance was, however, placed by learned counsel for the assessee on the case of shyam lal v. state, air 1968 all 392. that was a case under the prevention of food adulteration act and during the pendency of the trial, the punishing section was amended reducing the rigour of the law and, accordingly, it was ..... and reads as follows :' 271(1). if the income-tax officer or the appellate assistant commissioner or the commissioner (appeals) in the course of any proceedings under this act, is satisfied that any person--...... (c) has concealed the particulars of his income or furnished inaccurate particulars of such income, he may direct that such person shall pay .....

Kailash Chandra Mahesh Kumar Vs. Commissioner of Income-tax

Court : Orissa

Reported in : [1976]104ITR64(Orissa)

..... of the tax, if any, which would have been avoided if the income as returned by such person had been accepted as the correct income.'5. by the finance act of 1968, the upper limit of penalty has now been fixed at twice the amount of income in respect of which the particulars have been concealed or inaccurate particulars have been ..... case of commissioner of income-tax v. k.c. behera : [1976]103itr479(orissa) . before amendment was brought to the provision by the finance act of 1968, sub-clause (iii) of section 271(1)(c) of the act provided :'in the cases referred to in clause (c), in addition to any tax payable by him, a sum which shall not be less ..... counsel, was completed on december 8, 1967, and along with the assessment, the income-tax officer directed initiation of a proceeding under section 271(1)(c) of the act. the satisfaction of the income-tax officer for imposition of penalty was thus reached in december, 1967, and he reported the matter to the inspecting assistant commissioner as he .....

Commissioner of Income-tax Vs. Industrial Promotion and Investment Cor ...

Court : Orissa

Reported in : (1992)103CTR(Ori)222; [1993]199ITR761(Orissa)

..... old provision was re-enacted in identical terms in the 1961 act. but, subsequently, it has undergone several amendments by the finance act, 1966, with effect from april 1, 1966 ; the finance (no. 2) act, 1967, with effect from april 1, 1968 ; the finance (no. 2) act, 1971, with effect from april 1, 1972 and the finance act, 1974, with effect from april 1, 1975. there have been substitutions and ..... insertions by the finance act, 1979, with effect from april 1, 1980 ; the finance act, 1981, with effect from .....

Subhash Chandra Padhi Vs. State Transport Authority and ors.

Court : Orissa

Reported in : II(1994)ACC147

..... 2. the orissa legislature thought of augmenting the financial resources of me state for financing the expanding developmental activities and proposed the legislation to levy tax on passengers and accordingly, the orissa motor vehicles (taxation of passengers) bill, 1968 was introduced in the legislative assembly. the bill was referred to the select ..... reports as per annexure-a series. the concerned authority, therefore, initiated a proceeding under section 8 of the orissa motor vehicles (taxation of passengers) act and after giving due opportunity completed the assessment for the period in question. the petitioner being aggrieved by the same preferred an appeal and the appeal ..... the assessment made by the authorities under section 8 was not paid and the amount is recoverable under me provisions of the orissa public demands recovery act, me certificate proceeding has been initiated.5. mr. das, me learned counsel for the petitioner, raises two contentions in challenging me assessment made by .....

Damodar Mishra Vs. the East Coast Rail

Court : Orissa

..... level crossing at gate no.220 does no.appear per se to be illegal, arbitrary or illogical and more decisively against public interest. section 18of the railways act, 1989 is extracted hereunder for ready reference:18. fences, gates and bars the central government may, within such time as may be specified by it or ..... 9.1.2014 was proposed, the same was opposed by the general public for which the same could no.materialize. referring to section 18 of the railways act, 1989, it has been urged that in case railway administration apprehends accidents and untoward incidents for the unregulated use of the unmanned level crossing, it is obliged ..... the unmanned level crossing has the potential of exposing the -6- users to accidents and mishaps, it is its obligation under section18 of the railways act, 1989 (hereinafter called in short act ) to get it manned after erecting necessary fences/gates/ bars.without resorting to such measures, the contemplated steps to close/demolish the unmanned level .....

M/S. Orissa Stevedores Ltd. Link Road, Cuttack Vs. Deputy Commissioner ...

Court : Orissa

..... . interest is mandatory on the short payment, late payment of service tax. besides, no appeal lies against levy of interest. levy of interest is mandatory under section 75 of the finance act and there is no question of 4 limitation for levy of interest as st-3 returns were assessed and the service tax liability has already been met.4. undisputedly, in .....

Central Electricity Supply Company of Orissa Limit Vs. Ombudsman,centr ...

Court : Orissa

..... property without authority of law. it was further argued that the cea regulations have been framed in exercise of powers conferred under the electricity act,2003 (for short the act ), a central act. the cea regulations lay down specific provisions for installation and use of meters. under the said regulations main meter is to be primarily used ..... of cea regulationsthe provisions of the regulations framed by central electricity authority (cea) under section 55(1), 73(e) and 177(2)(c) of the electricity act, 2003 as amended from time to time, shall be applicable with regard to installation and operation of meters. in case there is any inconsistency between cea regulations and ..... osfc & ors: air 2007 orissa 37 it was argued that licensee having been entrusted with the task of discharging preeminently governmental function of supply of power canno.act at its caprice, whims or fancy no.can it, taking advantage of its monopoly status, exact an amount which it canno.do under any provision of law .....