Court : Gujarat
Decided on : Mar-23-1976
Reported in : [1978]113ITR745(Guj)
..... exceeds one-fifth of the amount of salary payable to the employee for any period of his employment after the aforesaid date.' 6. this sub-clause was omitted by the finance act, 1968, with effect from april 1, 1969, and in its place sub-clause (v) as extracted above as inserted in clause (a) of section 40. in our ..... of benefit, amenity or perquisite to an employee. in the submission of the learned advocate for the assessee, by the legislative changes brought about in clause (c) by the finance act, 1968, which deleted sub-clause (iii) of clause (c) and inserted sub-clause (v) to clause (a) in section 40, the distinction between an employee and a ..... ii) is excessive or unreasonable having regard to the legitimate business needs of the company and the benefit derived by or accruing to it therefrom.' (iii) (omitted by finance act, 1968, with effect from 1-4-1969). 3. on behalf of the revenue it has been contended that having regard to the legislative history of the provision contained in section .....
Tag this Judgment!Court : Kolkata
Decided on : Feb-19-1976
Reported in : [1977]40STC230(Cal)
..... of the business and, as such, liable to be proceeded against under the provisions of the bengal finance (sales tax) act, 1941. the impugned order dated 4th may, 1968, negatived that contention. the petitioners challenge the propriety of that order. section 17 of the bengal finance (sales tax) act, 1941, provides that where the ownership of the business of a registered dealer is transferred absolutely ..... and sujit kumar laik. on 29th march, 1963, petitioner no. 1 and the deceased, narayan chandra laik, father of petitioner no. 2, obtained registration certificate under the bengal finance (sales tax) act, 1941, from the commercial tax officer, asansol charge. on 6th april, 1968, the aforesaid ajit kumar laik and sujit kumar laik retired from the said business with effect from 1st april .....
Tag this Judgment!Court : Gujarat
Decided on : Apr-05-1976
Reported in : [1977]107ITR590(Guj)
..... mortgage and in this connection he wanted relief under section 24(1)(iii) of the income-tax act, 1961. it may be mentioned at this stage that with effect from april 1, 1969, by virtue of the provisions of the finance act, 1968, section 24(1)(iii) has been deleted. the income-tax officer apportioned the amount of interest ..... income-tax v. radha swami bank : [1972]85itr136(all) , the decision of the bombay high court in commissioner of income-tax v. industrial investment trust co. ltd. : [1968]67itr436(bom) and the decision of the madhy pradesh high court in commissioner of income-tax v. bhopal sugar industries ltd. : [1970]78itr209(mp) . he relied upon these ..... ltd. : [1965]56itr77(sc) , commissioner of income-tax v. south indian bank ltd. : [1966]59itr763(sc) , commissioner of income-tax v. maharashtra sugar mills ltd. : [1968]68itr512(bom) , this being a bombay decision, and the decision of the supreme court in the same case on appeal against the decision of the bombay high court being the .....
Tag this Judgment!Court : Gujarat
Decided on : Mar-31-1976
Reported in : [1977]107ITR63(Guj)
..... would be rs. 30,543 so far as the assessment year 1967-68 was concerned and under section 80j for the assessment year 1968-69 the relief would be rs. 31,020. the application was, therefore, for the purpose of deduction of rs. 30,543 ..... income-tax officer praying that the assessment year 1967-68 was concerned and under section 80j so far as the assessment year 1968-69 was concerned. the contention of the assessee in that application was that all the conditions which would justify the granting of ..... p.) ltd., case : [1975]100itr347(all) , division bench of the allahabad high court held that section 154 of the income-tax act, 1961, is not meant for preferring a claim which the assessee has omitted to prefer in the assessment proceedings. the section can operate ..... date of its detection by the finance (no. 2) act of 1967, which came into effect from april 1, 1968, was the same as the language of section 80j of the act. section 80j came into force with effect from april 1, 1968. thus out of the two .....
Tag this Judgment!Court : Kolkata
Decided on : Feb-18-1976
Reported in : [1979]118ITR946(Cal)
..... allowed. in order to determine the question whether there was wrong calculation at the rate applicable to priority income it is necessary to refer to the relevant provisions of the finance act, 1965. section 2(5)(a)(i) proceeds as follows : 'in respect of any assessment for the assessment year commencing on the 1st day of april, 1965- ( ..... refer to this aspect any further. it was contended alternatively that the petitioner was entitled to certain deductions as provided under section 2(5)(a)(i) of the finance act, 1965, as the said receipts were income or profits derived from export of goods or merchandise out of india. the petitioner also contended that the petitioner was entitled ..... -75 for the assessment years 1967-68 and 1968-69 had taken that view. it may also be contended that there being no export and profits in respect of import entitlement the petitioner was not entitled to deduction of tax as contemplated under section 2(5)(a)(i) of the finance act, 1965. i am not concerned at this .....
Tag this Judgment!Court : Delhi
Decided on : Jan-21-1976
Reported in : [1978]48CompCas149(Delhi); 12(1976)DLT90; 1976RLR477
..... other proceedings. i do not go into the question whether the petition is barred by time on the ground that the cause of action arose some time in 1968 or 1969, and the proceedings have been instituted several years later. i have also considered whether the application should be returned for representation, but i find that ..... has been made or is made before or after the order for the winding up of the company, or before or after the commencement of the companies (amendment act, i960)'. this provision shows that the court's jurisdiction arises concurrently with other courts in respect of suits or proceedings by or against the company. the present proceeding ..... petition under section 446 of the companies act, 1956, moved by jaipal singh alleging himself to be. contributory of the company because he is a depositor. the application has been moved on 30th october, 1975, and seeks to challenge a resolution of m/s. tanwar finance (p) ltd., passed on 16th november. 1968, by which the company was sent .....
Tag this Judgment!Court : Delhi
Decided on : Jul-15-1976
Reported in : (1976)5CTR(Del)0264C
..... had passed a detailed order of assessment for the assessment years 1962-63, 1963-64, 1964-65, 1965-66, 1966-68 and 1968-69 under the local act and from 1963-64 to 1968-69 under the central act (annexure x to the affidavit) and had raised the demand, details of which are set out in the statement of demand (annexure ..... that there was no order transferring the proceedings from sales-tax officer, ward no. 14 to the sales tax officer (sib) but relied on an order july 17, 1968 made by the commissioner of sales-tax, delhi appointing four sales-tax officers including shri h. d. birdi as assessing authorities 'in respect of the entire union territory of ..... declaration that it is not a 'dealer' within the meaning of the bengal finance (sales-tax) act, 1941, as extended to the union territory of delhi, hereinafter to be referred as 'the local act' or to the central sales-tax act, 1956, hereinafter to be referred as 'the central act', and seeks to quash the assessment order in respect of the year 1969 .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-06-1976
Reported in : [1977]40STC404(Cal)
..... executive functions to evolve administrative machinery not inconsistent with existing law, as would subserve its purpose. on interpretation of clause (8) of section 68 of the finance act, 1965, it was held that there was no embargo on officers under other statute to call for particulars of the disclosure if they were otherwise authorised to ..... ltd. a.i.r. 1970 s.c 1292, where the court was considering the provisions in section 152a inserted by the gujarat amendment act, 1968, to the bombay provincial municipal corporation act, 1949. by the said section the corporation was given power to refuse refund of the amount illegally collected as property tax despite the ..... on their application under article 226(1) of the constitution. the relevant facts, according to the petitioners, are that an agreement was entered into on 6th december, 1968, between metalo chemical works, petitioner no. 2, a partnership firm, whereof petitioner no. 1 is one of the partners and esemen metalo chemical (p.) ltd., .....
Tag this Judgment!Court : Kolkata
Decided on : May-28-1976
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 .....
Tag this Judgment!Court : Allahabad
Decided on : May-11-1976
Reported in : [1977]110ITR549(All)
..... the qualification for appointment of valuers under section 4(3) of the estate duty act is concerned, the matter was, up to 21st november, 1969, governed by the notification issued by the government of india, ministry of finance dated 6th july, 1968. this notification classified properties under 11 heads, one of them being immovable property. ..... equivalent to a degree in civil engineering as recognised by the respondent no. 1, vide notification no. 5/77/68 dated 6th july, 1968, under the estate duty act, and in paragraph 30 it is averred that the union public service commission has also recognised the membership of civil division of institution of engineers ..... was not appointed sufficient number of valuers would not be available for effectuating the purposes of the act. this apart, the notification of the lst august, 1975, settles the controversy. formerly, by the notification dated 6th july, 1968, immovable property of all types, which may possibly have included fixed machinery and plant, was .....
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