Court : Kerala
Reported in : [1972]83ITR362(Ker)
..... 44/71 have been preferred.4. criminal appeals nos. 210 and 211 of 1970 are appeals preferred by the same income-tax officer against the finding of the lower court that since section 276b was introduced in the act only from april 1, 1969, by amendment of the indian finance act, 1969, since the failure to deduct the tax from the dividend took ..... section. section 276(d) is to the effect that 'if a person fails without reasonable cause or excuse .... (d) to deduct and pay tax as required by the provisions of chapter xvii-b or under sub-section (2) of section 226 .. .. '13. so, to fasten guilt upon the accused the complainant must show that they failed to deduct and pay ..... the tax as required by the provisions of chapter xvii-b and we have already seen from section 194 which falls under chapter xvii-b that the principal officer when he declares and pays dividends under sub-clause (a), (b), (c), (d) or (e) .....
Tag this Judgment!Court : Kerala
Reported in : [1980]122ITR754(Ker)
..... annuity deposit required to be made by the assessee '3. chapter xxii-a dealing with annuity deposits was introduced in the i.t. act, by the provisions of the finance act, 1964, with effect from april 1, 1964. we may briefly notice the provisions of this chapter. section 280a provides that the provisions of the chapter shall apply to every person, whether an individual, a huf ..... deposits go up to section 280x.7. by the finance act, 1966, the provisions of sections 280k, 280r and 280t omitted with effect from april 1, 1967. the determination of the annuity deposit payable by the assessee was made only by the assessment orders dated march 28, 1969, january 9, 1970, and november 7, 1970.8. the contention on behalf of the assessee was .....
Tag this Judgment!Court : Kerala
Reported in : 1993(44)ECC145
..... the payability and the quantification of the tax depend on the passing and the application of the annual finance act. thus, income is chargeable to tax independent of the passing of the finance act. but until the finance act is passed no tax can be levied. the same principle was reiterated by the supreme court in kesoram industries & cotton mills ltd. ..... romer in the judgment of the privy council reported in commissioner of income-tax, bombay & aden v. khemchand ramdas [1938] 6 itr 414. chapter iii of the income-tax act headed 'taxable income' contains the various provisions with reference to which taxable income is determined. the tax is leviable under section 3 and is ..... as approved by the collector of customs until they are cleared for home consumption or are warehoused or are transhipped in accordance with the provisions of chapter viii. the importer of the goods other than goods intended for transit or transhipment will have to make entry thereof by presenting to the proper officer .....
Tag this Judgment!Court : Kerala
Reported in : [2003]130TAXMAN749(Ker)
..... average advances made by such branches, computed in the prescribed manner.'3. section 36(1) (vii) and (viia) as it stood after the amendment made by the finance act, 1985 reads as follows :'(1) the deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income ..... of the banks. now, after 1985 amendment, the deduction was geared to a percentage of the total income computed before making any deduction under this clause or chapter via or an amount not exceeding two per cent of the aggregate average advance made by the rural branches of such banks computed in the prescribed manner whichever ..... country outside india or a non-scheduled bank, an amount not exceeding ten per cent of the total income computed before making any deduction under this clause and chapter via and an amount not exceeding two per cent of the aggregate average advances made by the rural branches of such bank, computed in the prescribed manner;clause .....
Tag this Judgment!Court : Kerala
Reported in : (2002)173CTR(Ker)402; [2002]254ITR134(Ker)
..... to refer to certain passages of the said decision for our purpose. the apex court was considering the validity of the various provisions in chapter xx-c inserted in the income-tax act, 1961, by the finance act, 1986. while considering the scope of section 269ud(1), the apex court held as follows (page 553): 'in the light of what ..... and to every other person whom the appropriate authority knows to be interested in the property.'16. it was inserted by the finance act, 1993, with effect from november 17, 1992.17. the provisions of chapter xx-c relate to the purchase by the central government of immovable properties in certain cases of transfer that the apparent consideration is ..... above-mentioned principle laid down by the apex court.14. chapter xx-c of the income-tax act consisting of section 269u to 269uo was inserted in the income-tax act by the finance act, 1986, with effect from october 1, 1986. many of the provisions of the earlier chapter xx-a were found to be unworkable and the task of .....
Tag this Judgment!Court : Kerala
Reported in : 2003(3)KLT177
..... average advances made by such branches, computed in the prescribed manner'. 3. section 36(1) (vii) and (viia) as it stood after the amendment made by the finance act, 1985 read as follows: '36(1): the deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income ..... of the banks. now, after 1985 amendment, the deduction was geared to a percentage of the total income computed before making any deduction under this clause or chapter via or an amount not exceeding two per cent of the aggregate average advance made by the rural branches of such banks computed in the prescribed manner whichever is ..... country outside india or a non-scheduled bank, an amount not exceeding ten per cent of the total income computed before making any deduction under this clause and chapter via or an amount not exceeding two per cent of the aggregate average advances made by the rural branches of such bank, computed in the prescribed manner, .....
Tag this Judgment!Court : Kerala
Reported in : (2003)183CTR(Ker)21; [2003]262ITR579(Ker)
..... average advances made by such branches, computed in the prescribed manner.'3. section 36(1) (vii) and (viia) as it stood after the amendment made by the finance act, 1985, reads as follows :'36(1). the deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income ..... the banks. now, after the 1985 amendment, the deduction was geared to a percentage of the total income computed before making any deduction under this clause or chapter vi-a or an amount not exceeding two per cent, of the aggregate average advances made by the rural branches of such banks computed in the prescribed manner ..... country outside india) or a non-scheduled bank, an amount not exceeding ten per cent, of the total income (computed before making any deduction under this clause and chapter vi-a) or an amount not exceeding two per cent, of the aggregate average advances made by the rural branches of such bank, computed in the prescribed manner, .....
Tag this Judgment!Court : Kerala
Reported in : [2001]114TAXMAN394(Ker)
..... has no application, and, hence, the demand of tax, as coming through ext. p4 is unsustainable and without jurisdiction.4. section 194g had been introduced by the finance act, 1991, effective from 1-10-1991. i may extract the section, as it might be relevant to appreciate the stand of the parties better :'commission, etc., ..... , the senior counsel, appearing on instructions, for the petitioners, could be summarised as following.5. provisions for collection and recovery of income-tax, appearing in chapter xvii of the act refer to various methods, viz., deduction at source, collection at source, advance payment of tax, collection by recovery and levy of interests, etc. since section ..... of section 194g. the sub-heading of the section is 'commission, etc.,' on sale of lottery tickets. the liability is for deduction at source, under chapter xvii. the general provision by section 190 prescribes for deduction, collection at source or advance payment. it is not disputed that if at all the first one .....
Tag this Judgment!Court : Kerala
Reported in : (2009)226CTR(Ker)403; [2009]183TAXMAN23(Ker)
..... decision of the supreme court in cit v. max india ltd : [2007] 295 itr 282 : [2008] 166 taxman 18, contended that the amendment to clause (a) by finance act, 2002 with effect from 1-7-1994, which requires completion of assessment prior to the date of commencement of search, was not applicable because the amendment was introduced retrospectively subsequent ..... for the assessment year 1997-98 in the computation of income for the block period 1-4-1986 to 5-3-1997 under section 158bb of the act. the assessment under chapter xiv-b was initiated pursuant to a search carried out on 5-3-1997 in the premises of the assessee. as on the date of search, ..... the income-tax department appearing for the appellant and learned counsel appearing for the assessee.4. since computation of income for the purpose of block assessment under chapter xiv-b of the act has to be done under section 158bb, we have to refer the said section. for this purpose, section 158bb with relevant amendments is extracted below:158bb. .....
Tag this Judgment!Court : Kerala
Reported in : [1973]91ITR289(Ker)
..... activities included in its total income of the previous year (as computed before making anydeduction under chapter via of the income-tax act) is not less than fifty-one per cent, of such total income. ' 4. section 2(1) of the finance act provides that:' subject to the provisions of sub-sections (2) and (3), for the ..... a company engaged in the process of manufacturing being included in the definition of an industrial company by the definition in section 2(6)(d) of the finance act, 1968, the assessee claimed that it should be taxed at the rate applicable to an industrial company. the appellate assistant commissioner found that though manufacturing operations ..... on by the assessee in preparing articles of food from raw materials, constitutes ' manufacture or processing of goods ' within the meaning of section2(6)(d) of the finance act, 1968, and that the assessee is an ' industrial company ' within the meaning of the definition contained in that section '2. the assessee is a private limited .....
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