Judgment Search Results Home > Cases Phrase: finance act 1970 chapter iii income tax Court: allahabad Page 4 of about 431 results (0.084 seconds)

Commissioner of Income-tax-II, Lucknow Vs. Salarpur Cold Storage (P.) ...

Court : Allahabad

..... the assessee has raised such objection before the completion of such assessment or reassessment." 10. section 292 bb of the act was inserted by the finance act, 2008 with effect from 1 april 2008. section 292 bb of the act provides a deeming fiction. the deeming fiction is to the effect that once the assessee has appeared in any proceeding ..... precluded from raising a challenge about the service of a notice, service within time or service in an improper manner. the proviso to section 292 bb of the act, however, carves out an exception to the effect that the section shall not apply where the assessee has raised an objection before the completion of the assessment or ..... v. hotel blue moon [2010] 321 itr 362/188 taxman 113. while construing the provisions of chapter xiv-b of the act in relation to block assessments, the supreme court in that decision considered the effect of section 143 (2) of the act. the supreme court held as follows: "...but section 143(2) itself becomes necessary only where it .....

Late Iqbal Hussain, L/H-2 Ekram Vs. Income-tax Officer, Ward-1(1)

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2007)111TTJ(All.)717

..... of income. prior to this, he is required to pay advance tax as and when he earns income. the liability to pay tax is further fixed by various finance acts and it does not depend upon final assessment to be made. final assessment will only determine the amount of tax as assessed by assessing officer but prior to that ..... at that time was in the form of additional tax. hon'ble supreme const held as under: the expression "assessment" used in the sections of chapter iv of the income-tax act is not used merely in the sense of compulation of income and when section 44 declares unit the partners or members of the firm or association shall ..... other proceeding. the two expressions are joined by the conjunction "and" therefore the domain of the second expression is limited by the contents of the first expression. (vi) in chapter xv, dealing with the 'liability in special cases-representative assessees" (i.e. cases like the present one) the legislature has used the word "levy and collection of any .....

Late Iqbal HussaIn Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... of income. prior to this, he is required to pay advance tax as and when he earns income. the liability to pay tax is further fixed by various finance acts and it does not depend upon final assessment to be made. final assessment will only determine the amount of tax as assessed by assessing officer but prior to that ..... at that time was in the form of additional tax.hon'ble supreme court held as under: the expression "assessment" used in the sections of chapter iv of the income tax act is not used merely in the sense of computation of income and when section 44 declares that the partners or members of the firm or association shall ..... other proceeding. the two expressions are joined by the conjunction "and" therefore the domain of the second expression is limited by the contents of the first expression. (vi) in chapter xv, dealing with the "liability in special cases-representative assessees" (i.e. cases like the present one) the legislature has used the word "levy and collection of any penalty .....

R.R. Engineering Co. Vs. Zila Parishad, Bareilly and anr.

Court : Allahabad

Reported in : AIR1970All316

..... term 'status' for it. could such a tax on the petitioner's 'status' be saved by article 277?30. both articles 276 and 277 occur in chapter i on 'finance', in part xii of the constitution, under the heading; distribution of revenues between the union and the states'. each of these two articles seeks to preserve for ..... not disputed that prior to the commencement of the constitution and even after such commencement but before the enactment of kshettra samities and zila parishads act 1961, the u.p. district boards act (act x of 1922) applied to the district of bareilly and the rules framed thereunder permitted the imposition of a tax on circumstances and property upto ..... the rural areas. there is no dispute also that the area of operation of the present zila parishads and the erstwhile district boards is the same.54. chapter vi of the act deals with funds, property and contracts. sections 99 and 100 which are relevant to the questions in controversy are these:'99. zila nidhf and kshettra nidhi-- .....

Cit Vs. Dugdh Utpadak Sahkari Sangh Ltd.

Court : Allahabad

Reported in : [2005]142TAXMAN611(All)

..... was inserted by finance (no. 2) act, 1980 with effect from 1-4-1981. section 80b(5) of the act is of no relevance as it defines gross total income. it does not specify as to whether deduction of the gross income or net income has to be given under chapter via of the act. section 80ab of the act as it stood during ..... for the purpose of computing the deduction under that section, the amount of income of that nature as computed in accordance with the provisions of this act (before making any deduction under this chapter) shall alone be deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in his ..... the applicability of the later judgment to the facts under consideration on it.'12. it may be mentioned here that the legislature by the finance (no. 2) act, 1980 had introduced sections 80aa and 80ab into the act by the reason of the interpretation placed by the apex court upon section 80m in cloth traders (p.) ltd's case. section 80aa .....

Cawnpore Sugar Works Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1982)2ITD654(All.)

..... the cancellation of the penalty imposed by the ito under section 221, read with section 201. our attention was also invited to the scheme of the act, particularly chapter xvii where sub-section (1) of section 190 lays down that notwithstanding that the regular assessment in respect of any income is to be made in ..... or before us to show that the co-operative cane development unions or co-operative cane development councils were wholly financed by the government and, therefore, even the notification no. 3489 dated 29-10-1970 cannot be said to cover the payments by way of income from interest to these bodies. the other persons mentioned ..... no. so 3489 dated 22-10-1970 whereby there was exemption from deduction of tax at source on payments made to any undertaking or body including a society registered under the societies registration act, 1860, financed wholly by the government. in these circumstances, according to dr. vaish, considering the purpose of chapter xvii under which section 194a appears .....

Commissioner of Income-tax Vs. Krishak Sahkari Ganna Samiti Ltd.

Court : Allahabad

Reported in : (2003)182CTR(All)481; [2002]258ITR594(All)

..... liable to exemption.4. sri prakash krishna, learned standing counsel for the revenue, submitted as follows :section 14(3) was inserted in the indian income-tax act, 1922, by the finance act, 1955, providing that tax shall not be payable by a co-operative society including such a co-operative society carrying on the business of banking in respect ..... effect that the burden lay upon the assessee to prove for granting deduction that the income falls within the four corners of the provision granting deduction under chapter vi-a of the income-tax act containing section 80p.(iv) cit v. cellulose products of india ltd. : [1991]192itr155(sc) , wherein it was held that only where there is ..... for this purpose to its members.'13. having given our most anxious thought to the aforementioned main object enumerated as above as also other six main objects and chapter xiii which contains the heading 'loan' which is pages at 33 to 36 of the booklet it is clear to us that the assessee-co-operative society would .....

Cit Vs. Krishak Sahkari Ganna Samiti Ltd.

Court : Allahabad

Reported in : [2002]125TAXMAN767(All)

..... liable to exemption.4. sri prakash krishna, learned standing counsel of the revenue submitted as follows :section 14(3) was inserted in the indian income tax act, 1922 by finance act, 1955 providing that the tax shall not be payable by a cooperative society including such a cooperative society carrying on the business of banking in respect of profit ..... effect that the burden lay upon the assessee to prove for granting deduction that the income falls within the four corners of the provision granting deduction under chapter vi-a of the income tax act containing section 80p.(iv) cit v. cellulose products of india lid. : [1991]192itr155(sc) wherein it was held that only where there is ..... this purpose to its members.'7.3 having given our most anxious thought to the aforementioned main object enumerated as above as also other six main objects and chapter xiii which contains the heading 'loan' which is at pages 33 to 36 of the booklet it is clear to us that the assessee cooperative society would .....

The Commissioner of Income Tax Vs. Dugdh Utpadak Sahkari Sangh Ltd.

Court : Allahabad

Reported in : (2006)202CTR(All)343

..... was inserted by finance (no.2) act, 1980 with effect from 1stapril, 1981. section 80b(5) of the act is of no relevance as it defines gross total income. it does not specify as to whether deduction of the gross income or net income has to be given under chapter vi a of the act. section 80ab of the act as it stood during ..... for the purpose of computing the deduction under that section, the amount of income of that nature as computed in accordance with the provisions of this act (before making any deduction under this chapter) shall alone be deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in ..... the applicability of the later judgment to the facts under consideration on it.'12. it may be mentioned here that the legislature by the finance (no.2) act, 1980 had introduced sections 80aa and 80ab into the act by the reason of the interpretation placed by the apex court upon section 80m in cloth traders (p.) ltd.'s case. section 80aa .....

Commissioner of Income-tax Vs. U.P. Financial Corporation

Court : Allahabad

Reported in : (1995)129CTR(All)247; [1996]217ITR191(All); [1995]83TAXMAN565(All)

..... providing that the total income with reference to which deduction is to be computed is the total income computed before making any deduction under chapter vi-a. later, by an amendment by the finance act, 1985, it was clarified that the total income on which deduction is to be computed is the total income computed before making any ..... deduction under this clause and chapter vi-a. thus, the intention of the legislature never seems to have been that the deduction under section 36(1 ..... computing the income referred to in section 28--. . . (viii) in respect of any special reserve created by a financial corporation which is engaged in providing long-term finance for industrial development in india, an amount not exceeding- (a) in the case of a financial corporation whose paid-up share capital does not exceed three crores of .....