Court : Kerala
Reported in : (1997)137CTR(Ker)656
..... under s. 132a in the case of any person, then, the ao shall proceed to assess the undisclosed income in accordance with the provisions of this chapter.'chapter xiv-b was inserted in the it act, 1961 by the finance act, 1995 w.e.f. 1st july, 1995. it is an admitted case that the search was conducted in this case under s. 132 of the ..... not apply in a case where a search is initiated under s. 132 before 30th day of june, 1995, the date on which the finance act, 1995 came into force. in that view, it cannot be said that chapter xiv-b has retrospective operation. at the same time, the definition of block period contained in s. 158b indicates that it operates for a ..... act and that it was on 23rd feb., 1996. that means chapter xiv-b as it stood now would apply in the present case. earlier chapter xiv-b was inserted .....
Tag this Judgment!Court : Kerala
Reported in : [2000]108TAXMAN125(Ker)
..... 'or for rejuvenation or consolidation of areas used for cultivation of tea' was inserted by the finance act, 1984 with effect from 1-4-1985. so far as the other subsidies are concerned, the taxation laws (amendment) act, 1970, which became operative with retrospective effect from 1-4-1969, specified the scheme for replantation or replacement ..... statute subsequently. this cannot be said to be a clarificatory inclusion. therefore, with effect from 1-4-1985 the benefit is available, in terms of the finance act, 1984. that being the position, for the assessment year 1984-85 the benefit is not available. but it shall be available for the assessment year 1985 ..... of clarification, subsidy relating to rejuvenation was also included for the purpose of deduction. the provision for grant of deduction existed and the insertion by the finance act, 1984 with effect from 1-4-1985 was clarificatory in nature. the learned counsel for the revenue submitted that the provisions were specific and, therefore, the .....
Tag this Judgment!Court : Kerala
Reported in : (1976)5CTR(Ker)0166C
..... . so the applicant on 3rd february 1972 filed company petition no. 1 of 1972 before the company court under section 559 of the act to declare the dissolution of the transferor company by the order dated 13th february 1970 void. but the company court dismissed the company petition no. 1 of 1972 on the ground that the court has no jurisdiction to ..... warrington, l.j. is to take the words themselves and arrive, if possible, at their meaning without, in the first place, reference to cases'.at page 67 in the same chapter the learned author has said :'even though a court is satisfied that the legislature did not contemplate the consequences of an enactment, a court is bound to give effect to .....
Tag this Judgment!Court : Kerala
Reported in : (1996)135CTR(Ker)319
..... in connection therewith or expenditure (wherever incurred) on the carriage of such goods to their destination outside india on the insurance of such goods while in transit, inserted by finance act, 1978 w.e.f. 1st april, 1978 (where such expenditure is incurred before the 1st day of april, 1978;(iv) maintenance outside india of a branch, office ..... parties by placing for our consideration a book a guide on export procedure and documentation ivth edn. by m. i. mahajan. it is stated by them that chapter 'export finance' would give an idea as to what would be packing credit. with the help sought from the said book exporters can get pre-shipment credit which is ..... indian and foreign commercial banks. post-shipment credit is on different payment terms from commercial banks as well as from the export-import bank of india. the said chapter conveys what is pre-shipment credit (packing credit) as well as post-shipment credit both short term as well as long term, packing credit is available to all .....
Tag this Judgment!Court : Kerala
Reported in : (1999)153CTR(Ker)79
..... filed under s. 245c will be disposed of as per the provisions of that chapter and the settlement commissioner is not in anyway bound by the other provisions of the act, in particular s. 186 of the act. it is further submitted that the amendment by way of finance act, 1987, was introduced w.e.f. 1st june, 1987 only for the ..... to indicate that the amendment was introduced only for the purpose of removal of doubts. it has to be pointed out, the deliberations before the parliament while passing the finance bill has not placed before this court for consideration, for the same might throw some light. in this situation, this court has to proceed only on the basis ..... said year was pending. at that stage, the petitioner filed a petition before the settlement commissioner to have the case settled in terms of s. 245c of the indian it act. the settlement commissioner by order dt. 25th jan., 1991 cancelled the registration given to the petitioner for the asst. yrs. 1975-76 and 1976-77 under the provisions .....
Tag this Judgment!Court : Kerala
Reported in : [2001]119TAXMAN304(Ker)
..... the andhra pradesh high court in dr. (mrs.) renuka datla v. cit : [1999]240itr463(ap) . the division bench was of the view that the provisions contained in the finance act, 1998 introducing the scheme should be given a strict interpretation, since the provisions relate to granting exemption. at page 471 of the said decision it is held as follows :'... diverse ..... instant case has paved way for a new controversy on the application of the scheme itself. the kar vivad samadhan scheme, 1998 (the scheme) was introduced in the finance act, 1998. the scheme makes an offer by the government for settling tax arrears, locked in litigation, by giving substantial discount. section 95 of the ..... of the declarations under the kar vivad samadhan scheme what is necessary is to find out whether there is a revision or appeal pending. section 95(c) of chapter iv of the kar vivad samadhan scheme states that the provisions of this scheme shall not apply to a case where no appeal or reference or writ petition is .....
Tag this Judgment!Court : Kerala
Reported in : (1999)153CTR(Ker)563
..... under six heads of income. the second item "b. interest on securities" was there in s. 14 during the assessment years in question and it was deleted by the finance act, 1988 w.e.f. 1st april, 1989. the salient principle is that the income-tax is only one tax levied on the sum total of the income classified and ..... of a person from various sources falling under the separate heads specified in s. 14 has to be computed in accordance with the provisions governing such heads specified in chapter iv of the act. in the instant case, the income of the assessee-bank, though arises from business, falls under two separate heads, viz., profits and gains of business or ..... they are (i) interest on any security of the central or state government, not being the interest payable under s. 280d in respect of an annuity deposit made under chapter xxii-a and (ii) interest on debentures or other securities for money issued or on behalf of a local authority or a company or a corporation established by a central .....
Tag this Judgment!Court : Kerala
Reported in : [1971]81ITR745(Ker)
..... accrued upon the property comprised therein down to and outstanding at the date of the death. in greens death duties, 4th edition, page 416, section 6(5) of the english finance act of 1894, which runs :'every estate shall include all income accrued upon the property included therein down to and outstanding at the date of the death of the deceased'is ..... the deceased would only be the business which was gifted by the donor and would not include the income thereof.in section 34(4) (section 6(5) of the british finance act of 1894), the word used is 'accrued'. 'accrue' means 'to fall (to any one) as a natural growth or increment; to come as an accession or advantage', in the ..... observation of lord morton need not be followed, at any rate, in india. the counsel may be right when he says that the effect of section 6(5) of the finance act was not considered in the sneddon case, still, as we have already indicated, the proposition laid down in that case, as we have interpreted it, may be accepted as .....
Tag this Judgment!Court : Kerala
Reported in : [1985]58STC282(Ker)
..... expert committee which had recommended the abolition of provisional assessments altogether, so that the assessing authorities could devote their full time for final assessments, and that the finance minister had made a policy statement in this regard in the budget speech. the retention of sub-rule (9) of rule 21 at least, it was ..... sold; and 'taxable turnover' means the turnover on which tax is payable, after permissible deductions. section 16(1) in chapter v, dealing with 'assessment, collection and penalty', provides that :the tax under this act shall be assessed, levied and collected in such manner as may be prescribed.section 17(1) obliges every dealer who is ..... levy and collection 'in such manner and in such instalments as may be prescribed'. the court held that in the absence of a specific provision in the act itself authorising the making of rules for provisional or advance assessment and collection of the tax so assessed, the provisions of the turnover and assessment rules relating .....
Tag this Judgment!Court : Kerala
Reported in : [1978]42STC1(Ker)
..... cases and situations, the decisions have held that the view more beneficial to the assessee must prevail: see commissioner of income-tax, punjab v. kulu valley transport co. p. ltd. [1970] 77 i.t.r. 518 (s.c.), commissioner of income-tax, west bengal i v. vegetable products ltd. [1973] 88 i.t.r. 192 (s.c.), commissioner of ..... temperature at which it yields a vapour which will give a momentary flash when ignited, determined in accordance with the provisions of chapter ii and the rules made thereunder;.from the two definitions in the general sales tax act which we have extracted, it will be noticed that the dominant characteristic of the definition of 'motor spirit' is that it ..... revisions relate to the assessment years 1968-69 to 1971-72. for the years 1968-69 to 1970-71, the assessments were completed accepting the position that the goods in question fell under section 5(1)(ii) of the act and were liable to be assessed under the multi-point scheme of taxation at 3 per cent sales tax. the .....
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