Judgment Search Results Home > Cases Phrase: finance act 1970 section 16 amendment of section 80mm Court: kolkata Page 9 of about 1,322 results (0.116 seconds)

Kesoram Cotton Mills Ltd., Calcutta Vs. Commissioner of Wealth Tax, Ca ...

Court : Kolkata

Reported in : AIR1963Cal392,67CWN22,[1963]48ITR31(Cal)

..... purpose of the excess profits tax. the excess profits tax was imposed by the finance act, 1939 and part ii of the 7th schedule to that act contains the rules for computing the capital employed in a trade or business the profits whereof are subject to that tax. the section of those rules provides that in the computation of the capital, 'debts' are to ..... finance act but until the finance act is passed no tax can be actually levied.'15. it was argued, however, that the rules framed under the wealth tax act and the forms prescribed thereunder go to show that the liabilities of an assessee are to be disclosed and taken into account in computation of the net wealth. the power to make rules is given by section .....

Jeewanlal (1929) Ltd. Vs. Commissioner of Income-tax (Central) and ors ...

Court : Kolkata

Reported in : [1977]106ITR33(Cal)

..... seen that the income-tax officer applied a lower rate of tax holding that the assessee manufactured articles specified in part iii of the first schedule to the finance act, 1965, i.e., aluminium, whereas the assessee was producing aluminium utensils from aluminium. this also appears to be an incorrect application of the facts.' 4. ..... applicant.' 2. by virtue of the aforesaid direction of the appellate assistant commissioner on the 13th november, 1972, the income-tax officer passed an orderpurporting to be one under section 251 of the act in which he gave effectto the appellate assistant commissioner's order in the manner following :' * * * * * ** * rs. 17,43,703less : rebate on 2 ..... in the eye of law, then the same could be subject to the reviskmal jurisdiction of the commissioner subject, however, to the limitation provided in the section.6. furthermore, there is another aspect of the matter. this order passed by the income-tax officer could itself be the subject-matter of appeal again. .....

Bharat General and Textile Industries Ltd. Vs. Commissioner of Income- ...

Court : Kolkata

Reported in : (1986)53CTR(Cal)418,[1985]153ITR747(Cal)

..... cannot be claimed in respect of transportation and freight charges.20. the substitution of sub-clause (iii) of section 35b(1)(b) by the finance act, 1970, with effect from april 1, 1968, i.e., the date from which section 35b was introduced, makes it clear that expenditure on the distribution, supply or provision outside india of the goods ..... export sales. the madhya pradesh high court held that the second partof clause (b)(iii) of section 35b(1) of the i.t. act, 1961, which starts with the words 'not being', which was added by the finance act, 1970, deals with expenditure which is not to be taken into account in granting the export markets development ..... retrospective effect from april 1, 1968. sub-clause (iii) of clause (b) of the sub-section in its original form was 'distribution, supply or provision outside india of such goods, services or facilities'. it was by the finance act, 1970, that with retrospective effect from april 1, 1968, the sub-clause was amended to the present form .....

Commissioner of Income-tax Vs. Madgul Udyog

Court : Kolkata

Reported in : [1994]208ITR541(Cal)

..... high court, a company engaged in construction works for buildings was not treated as an industrial company within the definition of the expression 'industrial company' appearing in section 2(7) of the finance act. the decision is, as indicated, the reaffirmation of the same view taken by the bombay high court earlier in cit v. n. u. c. ( ..... learned counsel for the assessee had drawn a distinction between the use of the word 'goods' in section 2(7)(d) of the finance act and the use of the word 'articles' in clause (iii) of sub-section (4) of section 80j on the ground that in the former what is to be manufactured is 'goods' while in ..... already observed, the use of the word 'construction' in contrast and contradistinction to the words 'manufacturing and processing' in the definition of 'industrial company' in the finance act. the construction is used as an activity separate and distinct frommanufacturing and in the definition of an 'industrial company' it is only construction of ships which is .....

Shri Debi Dutt Moody Vs. Shri Belan and ors.

Court : Kolkata

Reported in : AIR1958Cal398,[1959]35ITR781(Cal)

..... assess or re-assess such income ...... '22. it will therefore appear that under'section 34, as it was before the amendment by section 18.'of the finance act of 1956, it was laid downin the body of the section that so far as noticesunder clause (a) of sub-section (1) are concerned, theymust be 'served'' within 8 years. but underthe proviso ..... been raised, i have to deal with it.19. the point is as follows : under section 34 as id stood before the finance act of 1956, it was incumbent on the income-tax officer, in cases falling under clause (a) of sub-section (1) of section 34, 'at any time within 8 years' to serve on the assessee etc., a notice ..... however, that shortly after the bombay judgment by section 18 of the finance act of 1956, the provisions of section 34, including the proviso, have been altered, as stated above while in the body of the section it was previously laid down that the notice issued under! clause (a) of sub-section (1) of section 34 should be served within 8 years, it .....

income-tax Officer Vs. Kenaram Saha and Subhash Saha and

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)301ITR171(Kol.)

..... regulate business transactions and to prevent the use of unaccounted money or reduce the chances to use black money for business transactions.47. after the amendment in section 40a(3) by the finance act, 1995 with effect from april 1, 1996, and the amendment in rule 6dd of the income-tax rules by the income-tax (fourteenth amendment) rules, ..... clear that the circumstances spelt out in circular no. 220 were inclusive by way of examples and not exhaustive.5. that finance act, 1995 amended section 40a(3) with effect from april 1, 1996, by which disallowance under section 40a(3) was reduced to 20 per cent, of the expenditure claimed. clause (j) of rule 6dd was also omitted ..... and not only subclause (iv). the exemption is confined to payment to grower or producer of forest produce.75. though this decision is also for the assessment year 1970-71, however, in this case, their lordships of the hon'ble allahabad high court has considered the applicability of rule 6dd(f) which still exists and in some .....

Tata Metaliks Ltd. Vs. C.i.T Iii, Kolkata

Court : Kolkata

..... tax or refund was due from him after making such adjustments. with effect from 1st april, 1998, the second proviso to s.143(1)(a) was substituted by the finance act, 1997, which was operative till 1st june, 1999. the requirement was that an intimation was to be sent to the assessee whether or not any adjustment had been ..... issued as intimated and thereafter the assessing officer did not resort to seeking any further particulars or evidence from the assessee in resorting to the provision of section 143(2) of the said act. in those circumstances, the assessment stood completed and accepted by the assessee who then had sought to file a revised return on the last day ..... of change of opinion, as contended, does not arise. from rajesh jhaveri, we find the hon ble supreme court had considered the effect of section 143 of the said act in discussing its sub-sections as it had undergone change from time to time. the tribunal had relied on the case of cit versus punjab national bank (supra) in which .....

income-tax Officer Vs. Pratappur Sugar and Industries

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1985)13ITD753(Kol.)

..... madras high court has, in its decision in the case of best & co. (p.) ltd. (supra) held, in connection with clause (iii) inserted in section 40(c) of the act by the finance act, 1963 as from 1-3-1963, that the said provision thereunder was not linked to any particular assessment year as such or even the previous year and ..... a mere reading of the sub-section, it is clear that no allowance shall be made in respect of expenditure incurred on account of guest ..... and such accommodation is situated, is accommodation in the nature of guest-house as provided under sub-section (4). but sub-section (4) itself provides that no allowance shall be made in respect of any expenditure incurred by the assessee after 28-2-1970, on the maintenance of residential accommodation in the nature of a guest-house. thus, from .....

Dcit Vs. S.G. Investments and Industries

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD44(Kol.)

..... of expenditure incurred by the assessee in relationship to income which does not form part of the total income under this act." 9. a new section 14a in chapter iv of the income-tax act, 1961 was inserted by the finance act, 2001, with retrospective effect from 1-4-1962. the circular no. 14 of 2001, dated 22-11-2001 issued ..... has been given in circular no. 8 of 2002, dated 27th august, 2002, stating as follows:- "23.1 though the finance act, 2001, a new section 14a was inserted in the income-tax act retrospectively with effect from 1st april, 1962 to clarify the intention of the legislature that no deduction shall be allowed in respect of any expenditure ..... issue at rest and not to unsettle the cases by raising the issue afresh. 23.2 through finance act, 2002, a proviso to section 14a has been inserted so as to clarify that the assessing officer shall not reassess the cases under section 147 of pass an order enhancing the assessment or reducing a refund already made or otherwise increasing .....

The Indian Iron and Steel Co. Ltd. Vs. Member, Board of Revenue

Court : Kolkata

Reported in : [1971]27STC373(Cal)

..... this is the question referred to us. but it seems that the real controversy between the parties has not been brought out in this question. in the bengal finance (sales tax) act, 1941, in section 2(c) a 'dealer' has been defined. according to this definition a 'dealer' means, inter alia, any person who carries on the business of selling goods ..... character and in the course of trade or commerce. 14. so far as our court is concerned the provisions of both section 2(c) and section 2(la) were construed in fort gloster industries ltd. v. member, board of revenue, west bengal [1970] 26 s.t.c. 141 at pp. 160-161. it is observed :.the amended definition of 'business' under ..... section 2(la) insists that it must be a trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or .....