Court : Allahabad
Reported in : (2005)198CTR(All)396; [2006]280ITR263(All)
..... of any portion thereof into a lump sum grant;'20. from a reading of the aforesaid provision, it will be seen that from the assessment year commencing 1st april 1970 which is applicable in respect of the assessment years in question, only that annuity has been excluded from the assets which has not been purchased by the assessee or purchased ..... for a period not exceeding six years from the date the interest vests in the assessee;(2) in relation to the assessment year commencing on the 1st day of april, 1970, or any subsequent assessment year but before the 1st day of april, 1993--(i) animals;(ii) a right to any annuity (not being an annuity purchased by the assessee ..... limit as also the rate of interest and its repayment had been specified. section 7a of the 1974 act, which was inserted by the finance (no. i) act of 1980 with effect from 1.4.1981, had granted exemption under section 5 of the act by treating the amount of compulsory deposit to be a deposit with a banking company to which the .....
Tag this Judgment!Court : Allahabad
Reported in : (2003)184CTR(All)39; [2003]260ITR315(All)
..... a true copy of the memo of appeal has been annexed as annexure 3 to the petition.3. the central government issued the kar vivad samadhan scheme under the finance (no. 2) act, 1998, which came into force from september 1, 1998, and was applicable till january 31, 1999. this scheme provided for settlement of disputed arrears of tax, etc ..... . section 88 of the aforesaid finance (no. 2) act of 1998, states as follows :'subject to the provisions of this scheme, where any person makes, on or after the 1st day of september, 1998, but on ..... being delivered to a post office to the time of its being delivered to the addressee or of its being returned to the sender or otherwise disposed of under chapter vii.'11. the above provision clearly indicates that merely by posting a letter it does not amount to making a declaration to the designated authority under section 88 .....
Tag this Judgment!Court : Allahabad
Reported in : [1977]110ITR289(All)
..... accordingly and the excess, if any, paid shall bedeemed to be tax payable by the assessee and the provisions of this act shallapply accordingly.(2) on any portion of such amount which is refundedunder this chapter, interest shall be payable only up to the date on whichthe refund was made.'12. though there was no definition of ..... to it on advance tax deposited by it in excess of the amount of tax which it was ultimately held liable to pay.2. for the assessment year 1970-71, the petitioner deposited rs. 73,398 as advance tax. on november 25, 1972, the income-tax officer made the assessment resulting in a demand of ..... requiring otherwise, the context of the section indicates that this meaning should be given to the expression ' regular assessment'. '19. after examining the scheme of the act, his lordship observed that regular assessment under section 214 would include an assessment made by the income-tax officer pursuant to the direction of the appellate assistant commissioner. referring .....
Tag this Judgment!Court : Allahabad
Reported in : (1982)28CTR(All)83; [1983]142ITR101(All); [1982]11TAXMAN150(All)
..... shall refer the case to the inspecting assistant commissioner who shall, for the purpose, have all the powers conferred under this chapter for the imposition of penalty.'4. this provision was deleted by the amending act of 1975 with effect from april 1, 1976. the result being that after april 1, 1976, the iac lost jurisdiction ..... dated 21st september, 1978, reducing the penalty to rs. 52,799. the petitioner thereupon filed a reference application before the tribunal under section 256(1) of the act against the order dated 21st september, 1978, which is still pending. the petitioner also made an application under section 254(2) for recalling the order dated 21st september ..... j.1. for the assessment year 1970-71 while finalising the assessment the ito came to the conclusion that the assessee had concealed particulars of its income. since the minimum penalty leviable exceeded rs. 25.000 he referred the case to the iac under section 274(2) of the i.t. act. from the regular assessment the assessee .....
Tag this Judgment!Court : Allahabad
Reported in : (1980)16CTR(All)127; [1981]132ITR517(All)
..... of an amending provision to a completed assessment is not a debatable point. as noted above, section 32 of the finance (no. 2) act, 1971, inserted the words 'but not including jewellery' in section 5(1)(viii) of the act and this amendment is to take effect from april 1, 1963. the amended provision thus reads:'5. (1) subject ..... following the decision of the supreme court in cwt v. arundhati balkrishna : [1970]77itr505(sc) , accepted the assessee's contention and directed the exclusion of the aforesaid value of jewellery.2. by section 32 of the finance (no. 2) act, 1971, section 5(1)(viii) of the act was amended with retrospective effect from april 1, 1963, and the words 'but ..... appellate orders of the aac dated september 21, 1970, were inconsistent with these provisions and must be deemed to suffer from a mistake apparent from the record.7. the question whether expln. 1 which was added to section 5(1)(viii) by section 32 of the finance (no, 2) act of 1971 could or could not be pressed into .....
Tag this Judgment!Court : Allahabad
Reported in : (1984)43CTR(All)189; [1984]150ITR446(All); [1984]19TAXMAN131(All)
..... the reference application on the grounds which have been set out in the said order. he further submitted that the insertion of section 21aa in the w.t. act by the finance act, .1981, with effect from april 1, 1981, made the legal position absolutely explicit. in other words, the interpretation which was placed by the tribunal on ..... xxv), (xxvi), (xxvii), (xxviii) and (xxix) of sub-section (1) of that section shall not be excluded.' 10. the background in which this provision was inserted by the finance act, 1981, is fully detailed in circular no. 308 dated june 29, 1981, which has been reproduced in [1981] 131 itr 119 of the statutes section. the relevant portion of the ..... on cit v. chander bhan harbhajan lal : [1966]60itr188(sc) , mathura prasad v. cit : [1966]60itr428(sc) , cit v. indian mica supply co. p. ltd. : [1970]77itr20(sc) and cgt v. smt. kusumben d. mahadevia : [1980]122itr38(sc) . these authorities are in support of the proposition that where a reference will be futile or where the .....
Tag this Judgment!Court : Allahabad
Reported in : [1972]84ITR799(All)
..... as it makes a lesser cut in the scope of the phrase ' debts owed ' in the main part of section 2(m) and is against the department. in the finance bill, 1959, clause (2) provides for insertion of clause (iii)(b) in section 2(m). while moving the bill, the mover of the bill explained his purpose behind clause ..... of the assessee.20. the construction which we are persuaded to accept has already been accepted by the calcutta high court in commissioner of wealth-tax v. banarashi prasad kedia, [1970] 77 i.t.r. 159 (cal.). the calcutta high court said:' in the context in which it has been used, the expression ' outstanding ' means an amount which ..... , revision or other proceedings as not being payable by him. '18. there are thus three requirements: firstly, the amount of the tax should be payable under any of the acts specified in the maiu part of clause (iii); secondly, the amount of tax should be outstanding on thevaluation date; and, thirdly, the outstanding amount of tax, partially or wholly .....
Tag this Judgment!Court : Allahabad
Reported in : 2000(3)AWC2139; (2002)3UPLBEC2351
..... charges. (leading writ pr. 29 and pr. 34 of writ petition no. 6636 of 1986). chapter v-property-contract, finance and accounts and audit-sections 39 to 51 deal with financial aspects of jal sansthan. section 44 of act. 1975. reads : '44. general principles for jal sansthan's finance.--a jal sansthan shall from time to time so fix and adjust its rates of ..... the petitioners claim to have filed appeal under section 54 to challenge assessment of annual value under section 53 of the said act. hence, impugned gazette notifications cannot be said to be bad ; as also held by this court in 1970 alj 325, hari lal arya v. town area committee. in air 1962 sc 795. it is held that both the ..... taxes on same commodity, if earlier or later law not repealed--shall be valid. b. water charges : 37. contention no. iii : (i) jal sansthan is under obligation under section 69 of act, 1975. (as also .....
Tag this Judgment!Court : Allahabad
Reported in : (2004)191CTR(All)460; [2005]275ITR628(All)
..... the basis of a decision of the apex court in the case of cwt v. arundhati balkrishna : [1970]77itr505(sc) . the assessment was made on 16th dec., 1970. subsequently, section 5(1)(viii) of the act was retrospectively amended by the finance (no. 2) act, 1971 w.e.f. 1st april, 1963, whereby the exemption on the value of jewellery was withdrawn ..... counsel for the applicant submitted that, as a result of the legal fiction incorporated with retrospective operation and the amendment of section 5(1)(viii) of the act by the finance (no. 2) act, 1971 w.e.f. 1st april, 1963, the omission of the value of the jewellery from the net wealth of the applicant was a mistake ..... sheela devi goel, : [1981]132itr517(all) .7. sri mahajan, the learned counsel for the revenue, has submitted that section 5(1)(viii) of the act was retrospectively amended by the finance (no. 2) act, 1971 w.e.f. 1st april, 1963 whereby the exemption on the value of the jewellery was withdrawn. the wto has granted exemption on the value .....
Tag this Judgment!Court : Allahabad
Reported in : 2005(3)ESC2162
..... to make new or additional statute inconsistent with such statutes.'22. the degree colleges are regulated in pursuance to provision contained in chapter 11 of the act.a perusal of chapter 11 shows that government possess effective power to control or to check the malpractices if any committee of management does not discharge ..... the constitution of examination and admission committees. the bill also provides for the appointment of pro-vice-chancellors in certain universities and a whole-time finance officer in place of honorary treasurer in all universities.'14. petitioners colleges have been affiliated with various universities. accordingly, they falls within the supervisory ..... chancellors and other educationists.2. the bill, inter alia, provides for the reorganisation of the court, the executive council, the academic council, the finance committee and the selection committees for the appointment of teachers in the universities with a view to making them more effective and compact bodies. it .....
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