Court : Gujarat
Reported in : (2001)170CTR(Guj)19
..... tour or visit to the place at which such accommodation is situated, is accommodation in the nature of a guest house within the meaning of sub-section (4).'sub-section (5) has been inserted by finance act, 1983, with retrospective effect, but retrospectivity has been restricted to 1-4-1979. hence, the provision cannot be read and pressed into service for ..... ; and(b) is intended for the exclusive use of such employees while on leave.'in this connection it may be noticed that sub-section (5) to section 37 was inserted with effect from 1-4-1979, by finance act, 1983, which reads as under :'for the removal of doubts it is hereby declared that any accommodation by whatever name called, maintained ..... used by the employees and visitors of the company which was a place necessary for stay and could not be termed guest house within the meaning of section 37(4) of the act ?(2) whether, on the facts and in the circumstances of the case, the tribunal was right in law in allowing the expenditure, of rs. .....
Tag this Judgment!Court : Gujarat
Reported in : [1979]119ITR137(Guj)
..... provisions of s. 12. that which has to be culled out by a process of interpretation was made specific by the amendment carried out in s. 12 by the finance act of 1972, with effect from april 1, 1973. where, contributions made with a specific direction that they shall form part of the corpus of the donee trust, they ..... clause,'trust' includes any other legal obligation. our conclusion, therefore, is that, under sub-s. (2) of s. 12, as it stood prior to its amendment by the finance act of 1972, voluntary contributions not stamped with the character of income were not deemed deemed to be income and, therefore, in the instant case, where, as found by the tribunal ..... after the amendment because we are concerned with the assessment year 1970-71. it must be pointed out that s. 12 finds its place in chap. iii of the i. t. act, 1961. chap. iii deals with 'incomes which do not form part of total income'. section 11 of the act deals with 'income from property held for charitable or religious purposes .....
Tag this Judgment!Court : Gujarat
Reported in : [1966]59ITR615(Guj)
..... the 1st of april, 1956', nor was there any warrant for holding that the reference to clause (a) of sub-section (1) of section 34 in the opening part of section 4 was only to the clause as amended by the finance act of 1956. holding that such a notice could be given at any time, i.e., before or after april 1, ..... of 1959 might be issued at any time even though the period of eight years prescribed by that sub-section before it was amended by the finance act of 1956 had expired. similarly, by section 4 of act 1 of 1959, notices issued before act 1 of 1959 and assessment or reassessment, etc., consequent upon such notice were saved from the bar of ..... on the ground that at the time it was issued, the time within which it should have been issued had expired 'under that section as in force before its amendment by clause (a) of section 18 of the finance act, 1956 (xviii of 1956).' reading these two provisions together makes it fairly clear that the intention of the legislature in enacting these .....
Tag this Judgment!Court : Gujarat
Reported in : [1976]102ITR455(Guj)
..... any annuity paid, under the provisions of section 280b. by another section of finance act, 1964, with effect from april 1, 1964, a wholly new chapter, namely, chapter xxii-a, dealing with annuity deposits was inserted in the income-tax act, 1961, and this chapter xxii-a runs from section 280a to section 280x. section 280b, sub-section (4), defines 'annuity' as follows : ..... in commissioner of income-tax v. hukumchand mohanlal and also the decision of the bombay bench of the tribunal in i. t. a. no. 2784 (bombay) 1970-71, dated july 7, 1972. the tribunal accepted the contention of the assessee because, according to the tribunal, the 'depositor' would mean the person who has ..... nominee/ legal representative of the deceased depositor was liable to be assessed as income of the assessee ?' 2. the relevant assessment years are 1969-70 and 1970-71. the assessee herein is the heir and legal representative and nominee of one subhadraben k. nawab who was the original depositor of certain amounts under .....
Tag this Judgment!Court : Gujarat
Reported in : (1994)122CTR(Guj)164; [1995]212ITR614(Guj)
..... examination might indicate loss of moisture content, that it not sufficient for holding that the stored articles have undergone a 'process' within the meaning of section 2(7)(c) of the finance act, 1973. with great anxiety we have gone through the facts of the said case and the principle of law as discussed therein. we, however, ..... high court in cit v. casino (pvt.) ltd. : [1973]91itr289(ker) wherein the division bench, while dealing with the word 'processing' appearing in section 2(6)(d) of the finance act, 1968, observed that it was evident from the context in which that word was used that it was complementary to the term 'manufacture' and, therefore, would ..... the trades dealing in or using cotton. the assessee-company claimed that pressing of cotton fell within the expression 'processing of goods' within the meaning of section 2(7)(c) of the finance act, 1973, and, therefore, it was an 'industrial company' entitled to the concessional rate of tax. this court held that loose cotton in bulk .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)57CTR(Guj)151; [1986]162ITR800(Guj)
..... income-tax assessments for the assessment years 1964-65 and 1965-66, the assessee-company had claimed benefit of deduction under section 2(5)(a)(i) of the finance act, 1964, and section 2(5)(a)(i) of finance act 1965. this court confirmed the view taken by the tribunal rejecting the assessee-companys claim for the said deduction. so far ..... higher rebate of surtax under schedule iii to the companies profits (surtax) act, 1964, for the assessment year 1965-66, and to higher development rebate under section 33(1)(b)(b) and relief under section 80-i of the act for the assessment years 1968-69 to 1970-71. applying the commercial sense in which the expression 'petrochemical' was ..... used in item (18) of the fifth schedule and sixth schedule to the act and item (19) of paragraph 2 .....
Tag this Judgment!Court : Gujarat
Reported in : [2001]252ITR846(Guj)
..... provide the exemption in respect of interest only on funds which are repatriable outside india. in order to bring out this intention, section 10(4a) of the income-tax act has been amended by the finance act, 1968. under the amended provision, the exemption will be available only in respect of interest on moneys standing to the credit of ..... it is further clarified that a person shall be held to be 'not resident in india' as defined in section 2(q) of the foreign exchange regulation act, 1973. it is pertinent to note that the non-resident (external) account, rules, 1970, were published by the government of india under the notification no. g. s. r. 265, dated february ..... 10, 1970.13. admittedly, in the case of the assessee, he was permitted to open 'nonresident (external) f. d. account' when his status was 'non-resident' within the meaning of the act. further, there is no dispute that even for the years under consideration, the status .....
Tag this Judgment!Court : Gujarat
Reported in : [2002]123TAXMAN824(Guj)
..... allied motors (p) ltd. v. cit : [1997]224itr677(sc) . the apex court has held that as per the first proviso added to section 43b of the income tax act, 1961 by the finance act, 1987, the main part of section 43b will not apply in relation to any sum which was actually paid by the assessee in the next accounting year if it was ..... payment is furnished by the assessee along with the return. explanation 2 was, therefore, added by the finance act, 1989 with retrospective effect from 1-4-1984 for the purpose of removing any ambiguity about the term 'any sum payable' under clause (a) of section 43b.5. following the aforesaid decision, we answer the question in the affirmative, i.e., in ..... 1984-85:'whether the appellate tribunal is right in law and on facts in deleting the addition of rs. 35,272 on account of unpaid sales tax under section 43b of the income tax act, 1961?'2. we have heard ms. mona bhatt, the learned counsel for the revenue and mr. r.k. patel, the learned counsel for the respondent- .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)51CTR(Guj)52; [1986]158ITR486(Guj)
..... opinion. it cannot be gainsaid that the purpose of obtaining the bank guarantee is to obtain the maximum time for the payment of tax as prescribed under section 68(1)(ii) of the finance act, 1965. since 68(1)(i) requires a person making a disclosure to pay the amount of income-tax as computed at the rate prescribed along with ..... payment of tax for purposes of sub-section (1) unless the payment is guaranteed by a scheduled bank or the person makes an assignment in favour of the president of india of any security of the central or state government. it should also be recalled that this disclosure scheme as available under the finance act, 1965 (no. 10 of 1965), ..... his disclosure proposal or to furnish adequate security for the payment thereof in accordance with sub-section (2) and undertakes to pay such income-tax within a period .....
Tag this Judgment!Court : Gujarat
Reported in : (1999)154CTR(Guj)59; [1999]238ITR510(Guj)
..... petition challenges the order dt. 8th march, 1999, by the designated authority under the kar vivad samadhan scheme introduced by the finance act, 1998. the petitioner has filed a declaration envisaged under s. 89 of the finance act, 1998, claiming the benefit of the claim for settlement of tax arrears. 2. the designated authority having considered the declaration and ..... 95. for the purpose of kar vivad samadhan scheme which gives relief in the matter of clearing the arrears of tax already determined under the provisions of the act, the requirement is not that the assessment should be made directly as a consequence of search relating to the assessment year in question. it is sufficient if ..... the materials discovered during the search. the additions made in asst. yr. 1994-95 are treated as made in consonance to search proceedings under s. 132 of the it act and the additional amount payable was determined as per sub-clause (v) of sub-s. (a) of s. 88. 3. the petitioner contends that search was .....
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