Court : Guwahati
..... activities should be taken into consideration for determining as an industrial company. learned counsel for the assessee-company had drawn our attention to section 2(7)(c) of chapter ii of the finance act, 1982, where industrial company has been defined as follows : ' 'industrial company' means a company which is mainly engaged in the business of generation or ..... than those which are excluded from the total income can be regarded as total income for the purpose of section 2(7)(c) of the finance act, 1982. section 10 in chapter iii of the income-tax act, 1961, gives a list of incomes which cannot be included in the total income. as per section 10 of the ..... the meaning of manufacturer of goods because tea is grown and manufactured. the expression 'mainly' has been explained in the explanation to section 2(7)(c) of the finance act, 1982. as per the provisions of law contemplated under the said explanation, a company (industrial company), shall be deemed to be mainly engaged in the business of .....
Tag this Judgment!Court : Guwahati
..... section 196 of the indian penal code (xlv of 1860)."before the amendment made by the finance act of 1956, section 37 stood as follows :"37. the income-tax officer, appellate assistant commissioner, commissioner and appellate tribunal shall, for the purposes of this chapter, have the same powers as are vested in a court under the code of civil procedure, ..... within the meaning of sections 193 and 228, and for the purposes of section 196 of the indian penal code (xlv of 1860)."the present section was substituted by the finance act, 1956, with effect from the 1st april, 1956, for the following section."37. power to take evidence on oath etc. - (1) the income-tax officer, appellate ..... for the selective application of a law providing for search and seizure.i have already pointed out that section 37(2) was inserted in the income-tax act only by the finance act of 1956. if the object of the income-tax was to prevent evasion of income-tax, section 37(1) which was there before insertion of sub- .....
Tag this Judgment!Court : Guwahati
..... tax is repealed by the amendment of section 4 of act vii of 1964 by the finance act xxiii of 1986. the surtax is discontinued for and after the assessment year 1988-89 under the finance act, 1986. 3. the income-tax was levied at first in 1886. in that act, no distinction was drawn of sources like profession, business ..... indian (or imperial) legislative authority introduced super-tax in 1917 and substituted in 1920 by another act. when the 1922 income-tax act was promulgated, the provisions of the 1920 act were incorporated in sections 55 to 58 in chapter ix of that act. in these sections, super-tax was levied and quantified separately from the income-tax. this ..... pattern is maintained in chapter xi of the 1961 act. super-tax is levied and quantified under sections 104 to 109 of the act. in chapter xi in sections 95 to 109, certain companies are classified, grouped and defined like industrial companies and .....
Tag this Judgment!Court : Guwahati
..... of the policy,2007 and the progression of events including incorporation of section 154 of the finance act,2003 read with schedule ix thereto, the goods under chapter 24 and pan masala under chapter 21 of the first schedule to the tariff act, 1985 cannot be construed to be eligible to avail the benefit/incentives only because the units ..... perceptible bearing thereof on the process of classification of pan masala as a whole under chapter 21 of this enactment in the negative list is deductible. in the opinion of this court even if the impact of section 154 of the finance act,2003 read with schedule ix thereto and the decision of the apex court in r ..... repetition here. pan masala is covered under chapter 21 of the first schedule to the tariff act,1985 and admittedly is one of the ineligible industries catalogued in the negative list thereof. this policy is not under challenge by the applicant. though, reference of section 154 of the finance act,2003 read with schedule ix relatable amongst others .....
Tag this Judgment!Court : Guwahati
..... deducted at source and/or on self-assessment7. the further pleadings of the petitioner-company are that parliament having amended the provisions of the income tax act by the finance act, 1997, inserted chapter xii-d consisting of section 115-c with effect from june 1, 1997, providing for payment of additional income-tax on any amount declared, ..... out of the part of income derived from the agricultural income.10. for ready and handy reference, the impugned provisions of section 115-c as introduced by the finance act, 1997, are quoted hereinbelow.taxes on income other than agricultural income'. entry 46 of list ii (state list) deals with the subject 'taxes on agricultural income' ..... under the law was given in the assessment year 1952-53. the tribunal observed that additional income-tax was also a tax on income and that the finance act could say that the tax would be payable on the income of any year preceding the previous year. however, the tribunal found and referred four questions to .....
Tag this Judgment!Court : Guwahati
..... as amended;(ii) penalty should not be imposed upon them in terms of section 76, 77 and 78 of chapter-v of the finance act, 1994 as amended;(iii) interest at the prescribed rate under section 75 of chapter-v of the finance act, 1994 as amended should not be demanded and realized from them.2. along with the show cause notice a list ..... is the character of state lotteries and even if it is legalized, would it qualify to be or can it be held to be a trace within the meaning of chapter xxiii of the constitution of india.8. it is in the above context, it was held that the state lotteries cannot be construed to be a 'trade and business ..... was interse between two distinct sets of state, one challenging and the other upholding certain provisions of the lotteries (regulation) ordinance 1997, which later on became the lotteries (regulation) act, 1998. the issue was confined to the state lotteries under entry 40, list (i) of the seventh schedule of the constitution of india. as a consequence of the order .....
Tag this Judgment!Court : Guwahati
..... association on behalf of its members. petitioner no. 2 in the said petition is a practising chartered accountant.2. service-tax was introduced by the finance act, 1994. chapter v thereof contains the scheme and provisions relating to the tax. section 66 imposed service-tax at the rate of 5 per cent of the value ..... the chartered accountants association and the gujarat institute of civil engineers & architects have challenged the constitutional validity of section 88 of the finance act, 1997 and section 116 of the finance (no. 2) act, 1998 levying service-tax on the consulting engineers and architects and also on the practising chartered accountants.the gujarat institute of civil engineers ..... for the petitioners have also relied on the following observations made by a constitution bench of the apex court in second gto v. d.h. hazareth air 1970 sc 999:". . . the sovereignty of parliament and the legislatures is a sovereignty of enumerated entries, but within the ambit of an entry, the exercise of .....
Tag this Judgment!Court : Guwahati
..... machinery for collection and recovery of the tax, once the legislature has, in clear terms, indicated that the income of the firm can be taxed in accordance with the finance act of 1956 as also the income in the hands of the partners, the distinction a charging and a machinery section is of no consequence. both the sections have to ..... taxation does not apply for the obvious reason that the income in question had not earlier been included in the total income of the assessee. the provisions contained in chapters iii and ix are obviously not applicable hereto. thus the inclusion of the income in question in the total income of the assessee for the year under consideration does ..... taxation that, unless otherwise expressly provided, income cannot be taxed twice," the patna high court in the case of tata iron & steel co. ltd. v. union of india(1970) 75 itr 676 (pat.) had stated, "a taxing statute should not be interpreted in such a manner that its effect will be to cast a burden twice over for the .....
Tag this Judgment!Court : Guwahati
..... machinery for collection and recovery of the tax, once the legislature has, in clear terms, indicated that the income of the firm can be taxed in accordance with the finance act of 1956 as also the income in the hands of the partners, the distinction a charging and a machinery section is of no consequence. both the sections have to ..... taxation does not apply for the obvious reason that the income in question had not earlier been included in the total income of the assessee. the provisions contained in chapters iii and ix are obviously not applicable hereto. thus the inclusion of the income in question in the total income of the assessee for the year under consideration ..... that, unless otherwise expressly provided, income cannot be taxed twice,' the patna high court in the case of tata iron & steel co. ltd. v. union of india : [1970]75itr676(patna) had stated, 'a taxing statute should not be interpreted in such a manner that its effect will be to cast a burden twice over for the payment of .....
Tag this Judgment!Court : Guwahati
..... machinery for collection and recovery of the tax, once the legislature has, in clear terms, indicated that the income of the firm can be taxed in accordance with the finance act of 1956 as also the income in the hands of the partners, the distinction a charging and a machinery section is of no consequence. both the sections have to ..... taxation does not apply for the obvious reason that the income in question had not earlier been included in the total income of the assessee. the provisions contained in chapters iii and ix are obviously not applicable hereto. thus, the inclusion of the income in question in the total income of the asses see for the year under consideration ..... that, unless otherwise expressly provided, income cannot be taxed twice.' the patna high court in the case of tata iron & steel co. ltd. v. union of india : [1970]75itr676(patna) had stated, 'a taxing statute should not be interpreted in such a manner that its effect will be to cast a burden twice over for the payment of .....
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