Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1986)18ITD114(Mad.)
..... laws (amendment) act, 1970 regarding section 32 (1 a)-[1971] 79 itr (st.) 5.(2) the direct taxes (amendment) act, 1974 regarding section 32-[1974] 95 itr (st.) 153. (3) the finance act, 1975, regarding the proviso to section 32(1)(ii) - [1975] 99 itr (st.) 137. (4) the finance (no. 2) act, 1980, specifying a date with regard to section 32(1)(iia)-[ ..... -3-1970. the second was the insertion of clause (vi) in sub- section (1) of section 32 by section 3 of the direct taxes (amendment) act, 1974 giving additional depreciation on plant and machinery acquired after 31-5-1974. the third is the insertion of clause (iia) in sub- section (1) of section 32 by the finance (no. 2) act, 1980 ..... argued that apart from the specification of the periods, the taxation laws (amendment) act, 1970 and the finance (no. 2) act, 1980 also specified the dates on which they came into force, namely, 1-4-1971 and 1-4-1981 (by the finance act, 1980) and, therefore, they became prospective changes.35. it may be pointed out .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1991)37ITD174(Mad.)
..... and after considering the legal position on this point that the assessee is correctly assessed under section 21(4) of the wealth-tax act. sections 21(1) and (4) were amended by the finance (no. 2) act, 1980 with effect from 1-4-1980. before the said amendment section 21(1) stood as follows :- in the case of assets chargeable to tax under this ..... assessee should be made for each of the nine assessment years under consideration. we hold that only one common trust was created under the four deeds dated 15-7-1970, 15-12-1970, 23-2-1971 and 3-3-1971.16. the next question posed for consideration is the main question involved in these appeals, viz., whether the names of ..... leave to raise them were also filed along with additional grounds. it is contended that the properties conveyed to the trust under the four deeds dated 15-7-1970, 15-12-1970, 23-2-1971 and 3-3-1971 and beneficiaries under them were different. the wealth-tax officer under the circumstances had no authority to aggregate the values of .....
Tag this Judgment!Court : Mumbai
Reported in : [1992]197ITR276(Bom)
..... and in the circumstances of the case, the appellate tribunal was justified in law in holding that the rectification made under section 35 of the wealth-tax act, 1957, consequent to the amendment of section 5(1)(viii) by the finance (no. 2) act, 1971, to include the value of jwellery was not an error apparent from the record for 1965-66 to ..... cannot be invoked to include jwellery or rs. 2,10,000 in a view of the retrospective amendment made in section 5(1)(viii) of the wealth-tax act, 1957, by the finance (no. 2) act, 1971 ?' 2. when these references were called out for hearing none was found to appear on behalf of the respondent assessee in each case. shri jetley ..... 1970-71 assessment years ?' wealth-tax reference no. 16 of 1977 : 'whether, on the facts and in the circumstances of the case, .....
Tag this Judgment!Court : Chennai
Reported in : (1980)19CTR(Mad)209; [1981]127ITR175(Mad)
..... was concerned jewellery was excluded from the exempted list of wealth with effect from april 1, 1963. that is what has been sought to be done by section 32 of the finance (no 2) act of 1971, by inserting the words, 'but not including jewellery' after the words, articles intended for the personal or household use of the assessee' with effect ..... , a debatable point, it was held that there was no mistake apparent from the record, and that the aac had no jurisdiction to rectify the original order dated june 26, 1970. 17. in the course of the judgment, reference was made to the decision of the supreme court in m. k. venkatachalam, ito v. bombay dyeing and . : [1958]34itr143( ..... the tribunal and came to the conclusion that there was no rectifiable error. 8. against this order of the aac refusing to rectify his earlier order dated april 30, 1970, the wto filed appeals before the tribunal. the tribunal relying on two decisions, one of the bombay high court and the other of the gujarat high court to .....
Tag this Judgment!Court : Kolkata
Reported in : (1981)24CTR(Cal)307,[1982]136ITR445(Cal)
..... , 'the income of the previous year of any person' with the purpose of the introduction of sub-section (22a) in section 10 by the finance act, 1970, as explained. in this case the tribunal had emphasised that the trust, which is the assessee, had its objects in the trust deed--objects other ..... 22) any income of a university or other educational institution, existing solely for educational purposes and not for purposes of profit.' 13. sub-section (20a), which was introduced by the finance act of 1970, along with sub-section (22a) are as follows :'(20a) any income of an authority constituted in india by or under any law enacted either for the purpose ..... of a hospital or institution for the reception and treatment of persons. sub-section (22a) along with sub-section (20a) was introduced by the finance act of 1970, and in clause (4), which sought to amend section 10 of the i.t. act, it was explained in the memo of the finance-bill, 1970, as follows :'sub-clause (a) seeks to insert a new clause .....
Tag this Judgment!Court : Chennai
Reported in : (1991)1MLJ119
..... -1986.3. the facts lie within a narrow campass. in exercise of its powers conferred under section 9 of the banking companies (acquisition and transfer of undertaking) act, 1970 (central act, 1970), hereinafter referred to as the 'act', the union of india, framed the nationalised banks (management and miscellaneous provisions) scheme, 1970, hereinafter referred to as the 'scheme'. clause 3(c) of the scheme provides for the ..... in w.m.p. no. 11860 of 1986.to issue a writ in the nature of mandamus directing the second respondent - union of india, represented by the secretary, ministry of finance, department of banking, new delhi to appoint after consultation with the reserve bank under clause 3(iii)(c) of the nationalised banks (management and miscellaneous provisions) scheme .....
Tag this Judgment!Court : Chennai
Reported in : 1996(2)CTC373; (1996)IIMLJ398
..... controversy. equally if it is held by this court also as has been held by the courts below that the plaintiff is entitled to avail of the benefits of sections 34 of act 40 of 1979, the suit presented in this case would be well within the period of limitation, is not also in dispute. the above result flows from the various ..... .w.198, dated 29.8.1985 by s.a.kader, j.).4. vythilingam chettiar v. rangaswamipadayachi : (1988)2mlj339 dated 9.9.1988 by sathiadev and sivasubramanian, jj).5. sri varalakshmi finance syndicate v. rqjagopal konar (1990 (2) lw 351, dated 5.10.1990 by t. somasundaram, j.)6. sri agastheeswareswara swami devasthanam v. rajagopal konar (1992 (1) lw 71, dated 31 ..... question in paragraphs 8 to 12 of his judgment, which are to following effect:'para 8. the tact that the suit promissory note came to be executed on 2.5.1970 and that there was an endorsement of payment on 9.4.1973 and the suit as such came to be filed before the trial court on 29.1.80 are .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1975Cal87
..... trust which is a public body functioning for public benefit. section 23 of the land acquisition act is therefore preferred to be amended by omitting sub-section (2) (clause 70 (c)). this is in conformity with other acts and also the recommendation of the local finance enquiry committee.'the above statement clearly indicates that the relevant ..... contended firstly that the award under consideration was made by the tribunal on august 11. 1970 while by the amendment act, xxxii of 1955 which came into force from october 20, 1955, section 23(2) of the land acquisition act was deemed to be omitted therefrom and was not to be taken into consideration in making ..... look into the statement of objects and reasons of the relevant amendment act for incorporating the above provision in the c. i. act. such investigation is permissible in law as observed in jullundur rubber goods manufacturers' association v. union of india, : [1970]2scr68 in following words:'although it may not be permissible to take .....
Tag this Judgment!Court : Delhi
..... . it will be applicable only when the required parameters are met and is not illegal and ultra vires the act, i.e. the finance act, 1994. it is also not contrary to the charging section/provisions of the finance act imposing levy of service tax. the aim and purpose of the said notifications is to provide a convenient, alternative ..... order/direction against the respondent by quashing the impugned provisions viz. section 65(105) (zzd) read with section 65(29) and section 65(39a), section 65(105)(zzq) read with section 65 (25b), section 65(105)(zzzh) read with section 65(30a) and section 65(91a) of chapter v of the finance act, 1994 as much as levying the service tax on the ..... be evident from the prayer in m/s yfc projects pvt. ltd., challenges have been raised to the constitutional validity of section 65(105) (zzd), section 65 (105) (zzq) and section 65 (105) (zzzh) of the finance act, 1994. the prayers made in yfc projects pvt. ltd. are as under: a) issue a writ of certiorari/mandamus or .....
Tag this Judgment!Court : Delhi
..... . it will be applicable only when the required parameters are met and is not illegal and ultra vires the act, i.e. the finance act, 1994. it is also not contrary to the charging section/provisions of the finance act imposing levy of service tax. the aim and purpose of the said notifications is to provide a convenient, alternative ..... order/direction against the respondent by quashing the impugned provisions viz. section 65(105) (zzd) read with section 65(29) and section 65(39a), section 65(105)(zzq) read with section 65 (25b), section 65(105)(zzzh) read with section 65(30a) and section 65(91a) of chapter v of the finance act, 1994 as much as levying the service tax on the ..... be evident from the prayer in m/s yfc projects pvt. ltd., challenges have been raised to the constitutional validity of section 65(105) (zzd), section 65 (105) (zzq) and section 65 (105) (zzzh) of the finance act, 1994. the prayers made in yfc projects pvt. ltd. are as under: a) issue a writ of certiorari/mandamus or .....
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