Court : Karnataka
Reported in : AIR1955Kant99; AIR1955Mys99
..... this court has in those proceedings taken the view that section 13 of the indian finance act which repealed the mysore income-tax act did not save section 34 of the mysore income-tax act so as to entitle the income-tax officer to re-open under that section assessment made prior to 1-4-1950. ..... the contention of the petitioner is that after the enactment of the indian finance act it was not competent for the income-tax officer to start proceedings under section 34, indian income-tax act for the purpose of re-opening assessments made before the financial integration. ..... it is urged that even otherwise, after the enactment of the indian finance act section 13) which repealed the existing income-tax laws in force in mysore and with effect from 1-4-1950 any proceeding for re-opening the assessment made prior to that date was not permissible either under section 34 of the mysore income-tax act or under section 34 of the indian income-tax act as in force in the retroceded area prior to its retrocession. ..... it is therefore urged that when the indian finance act repealed mysore income-tax laws, it repealed not only the mysore income-tax act of 1923 but also that part of mysore acts 31 and 57 of 1948 which contain the transitional provisions providing for the applicability of the provisions of the indian income-tax act for certain purposes. ..... it was nearly 4 years after the enactment of the indian finance act that the income-tax officer commenced the impugned proceedings against the petitioner. .....
Tag this Judgment!Court : Karnataka
Reported in : (2009)226CTR(Kar)474
..... accounting period and the effect of the reconstitution of the firm twice in the accounting year being as indicated above it in turn attracts the provisions of section 45(4) of the act and the amount which the outgoing partners had received through respective shares credited to their accounts, in the firm, necessarily reflects the gains which was initially in the hands of the firm and ..... and the judgment of the kerala high court in kunnamkulam's case; that the kerala high court has made a mistake in not noticing the full effect of the provisions of section 45(4) of the act; that section 45(4) being attracted not merely in the case of transfer of property involving dissolution of the firm but transfer in any other situation as is indicated under section 45(4) has been overlooked ..... while this position continued for some time by the finance act of 1987 section (3) and (4) were reintroduced with effect from 1-4- ..... sub-section (3) and (4) by the finance act 1987 clause (ii) of section 47 has been ..... finance act of 1987 having expressly and with definite purpose brought about the amendment to income tax act reintroducing sub-sections (3) and (4) to section 45 of the act, the tribunal should have examined the appeal before it more by applying the statutory provisions as it prevailed during the accounting period relevant to the assessment year ..... modified as per finance act 1987 w.e.f 1-4-1988 ..... finance act 1964 and got back on the statute book by way of amendment through taxation laws (amendment) act .....
Tag this Judgment!Court : Karnataka
Reported in : (1999)154CTR(Kar)564; [1999]237ITR630(KAR); [1999]237ITR630(Karn)
..... return for payment, as in wages ; that on which exertion or labor is expended a product of activity or labor ; as, a literary work ; needlework or embroidery ; an engineering structure, as a bridge or dock ; workmanship [[ : as, to do good work ; a task or undertaking ; as, one's life's work ; a deed or act.in encyclopaedia britannica the word 'work' has been defined as work, in physics, measure of energy transfer that occurs when an object is moved over a distance by an external force at least part of which applied in the direction of the displacement. ..... explanation iii has been inserted by the finance act, 1995, with effect from july 1, 1995, and as per explanation iii for the purposes of section 194c the expression 'work' shall include :--(a) advertising ;(b) broadcasting and telecasting including production of programmes for such ..... 108 which were issued on september 26, 1972 (see [1972] 86 itr 30), and march 20, 1973 ..... even the circular dated may 29, 1972 (see [1973] 84 itr 99), interpreted the provisions of the section 194c and clarified that the tax is not to be deducted under section 194c by ..... 86 dated may 29, 1972 (see [1972] 84 itr 99) was withdrawn beside the ..... 93, dated september 26, 1972, in respect of transport contracts as published in [1972] 86 itr 30 was as under (page 31) : 'a transport contract cannot ordinarily be regarded as a 'contract for carrying out any work' and, as such, no deduction in respect of income-tax is required to be made from payments made under such .....
Tag this Judgment!Court : Karnataka
Reported in : (2001)166CTR(Kar)148; [2001]247ITR333(KAR); [2001]247ITR333(Karn); [2001]115TAXMAN27(Kar)
..... of the scheme ; (c) which has escaped assessment by reason of the omission or failure on the part of such person to make a return under the income-tax act or to disclose fully and truly all material facts necessary for his assessment or otherwise, then notwithstanding anything contained in the income-tax act or in any finance act, income-tax shall be charged in respect of the income so declared at the rates specified thereunder.4.sub-section (2) of section 64 which contains the exceptions to section ..... ) 33), dated july 25, 1997, issued by the central board of direct taxes, to the extent to which they precluded them from availing of the benefit of filing a declaration under section 64(1) of the finance act, 1997, in the year of search or any earlier year/s, as discriminatory, arbitrary and illegal and opposed to article 14 of the constitution and for a direction to respondents nos. ..... can he take advantage of vdis for the assessment year 1993-94 and subsequent years ?answer : section 64(2)(ii) of the finance act, 1997, lays down that no disclosure of income can be made in respect of the previous year in which a search is initiated or in respect of any earlier previous year. ..... the voluntary disclosure of income scheme, 1997, introduced by chapter iv (sections 62 to 78 of the finance act, 1997 ('the act' for short)), was in force between july 1, 1997, and december 31, 1997. .....
Tag this Judgment!Court : Karnataka
..... sheshachala, cgc, for r-3 sri.y.hariprasad, cgc for r1 & r2) this writ petition is filed under articles226and227of constitution of india praying to declare section115wa to wl of the income tax act, 1961 as introduced by the finance act, 2005 with effect from14.2006 vide annex-a as ultra5(1) vires article14 19 (g) and265of the constitution of india in so far as the petitioners are concerned and etc. ..... , advs for r2) this writ petition is filed under articles226and227of constitution of india praying to strike down the provisions of chapter xii-h inserted in the income tax act, 1961 by the finance act, 2005 with effect from14.2005 as offending the provisions of article14of the constitution of india and as being beyond the legislative competence of parliament in so far as the ..... writ, order or direction more particularly in the nature of a writ of declaration to declare section 115 wa to wl of the income as introduced by the finance act, 2005, with effect from 01.04.2006 vide annexure-a as ultra vires article 14, 19 (1) (g) and 265 of the constitution of india in so far as the.. ..... to provide a harmonious, purposive and contextual the provisions of the finance act, 2005 relating to the fbt so as to further the objective ..... is beyond the circular no.8/2005 tax finance explanatory the provisions realting to fringe benefit tax act, notes2005on circular no.8/2005, dated298- 2005 19 the finance act, 2005 has introduced a new levy, namely, fringe benefit tax (hereafter referred to as fbt) on the .....
Tag this Judgment!Court : Karnataka Dharwad
..... in w.p.nos.67670/2010 as per annexures-j, k and l for the assessment years 2002-03, 2003- 04 and 2004-05 issued by respondent no.5 after a significant lapse of time from the 24 original assessments are valid under section 6(2) of kteg act and assessment orders dated 31.3.2017 in w.p.nos.103670/2017 and 103671/2017 for the assessment year 2009-10 passed by respondent no.5 in terms of the wordings prevailing market price of such goods in local areas under clause ..... entry into local area in respect of any tax period has escaped re-assessment to tax; or (c) tax has been under re-assessed; or (d) has been re-assessed at a rate lower than the rate at which it is assessable under this act; or (e) any deductions or exemptions have been wrongly allowed in respect thereof, the assessing authority may, notwithstanding the fact that whole or part of such escaped turnover or value of taxable goods as the case may be, was already ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka2vidhana soudha bangalore-560 001. .....
Tag this Judgment!Court : Karnataka Dharwad
..... in w.p.nos.67670/2010 as per annexures-j, k and l for the assessment years 2002-03, 2003- 04 and 2004-05 issued by respondent no.5 after a significant lapse of time from the 24 original assessments are valid under section 6(2) of kteg act and assessment orders dated 31.3.2017 in w.p.nos.103670/2017 and 103671/2017 for the assessment year 2009-10 passed by respondent no.5 in terms of the wordings prevailing market price of such goods in local areas under clause ..... entry into local area in respect of any tax period has escaped re-assessment to tax; or (c) tax has been under re-assessed; or (d) has been re-assessed at a rate lower than the rate at which it is assessable under this act; or (e) any deductions or exemptions have been wrongly allowed in respect thereof, the assessing authority may, notwithstanding the fact that whole or part of such escaped turnover or value of taxable goods as the case may be, was already ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka2vidhana soudha bangalore-560 001. .....
Tag this Judgment!Court : Karnataka Dharwad
..... in w.p.nos.67670/2010 as per annexures-j, k and l for the assessment years 2002-03, 2003- 04 and 2004-05 issued by respondent no.5 after a significant lapse of time from the 24 original assessments are valid under section 6(2) of kteg act and assessment orders dated 31.3.2017 in w.p.nos.103670/2017 and 103671/2017 for the assessment year 2009-10 passed by respondent no.5 in terms of the wordings prevailing market price of such goods in local areas under clause ..... entry into local area in respect of any tax period has escaped re-assessment to tax; or (c) tax has been under re-assessed; or (d) has been re-assessed at a rate lower than the rate at which it is assessable under this act; or (e) any deductions or exemptions have been wrongly allowed in respect thereof, the assessing authority may, notwithstanding the fact that whole or part of such escaped turnover or value of taxable goods as the case may be, was already ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka2vidhana soudha bangalore-560 001. .....
Tag this Judgment!Court : Karnataka Dharwad
..... in w.p.nos.67670/2010 as per annexures-j, k and l for the assessment years 2002-03, 2003- 04 and 2004-05 issued by respondent no.5 after a significant lapse of time from the 24 original assessments are valid under section 6(2) of kteg act and assessment orders dated 31.3.2017 in w.p.nos.103670/2017 and 103671/2017 for the assessment year 2009-10 passed by respondent no.5 in terms of the wordings prevailing market price of such goods in local areas under clause ..... entry into local area in respect of any tax period has escaped re-assessment to tax; or (c) tax has been under re-assessed; or (d) has been re-assessed at a rate lower than the rate at which it is assessable under this act; or (e) any deductions or exemptions have been wrongly allowed in respect thereof, the assessing authority may, notwithstanding the fact that whole or part of such escaped turnover or value of taxable goods as the case may be, was already ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka vidhana soudha bangalore-560 001. ..... additional chief secretary and principal secretary to government finance department government of karnataka2vidhana soudha bangalore-560 001. .....
Tag this Judgment!Court : Karnataka
..... reliance is placed on section 11(6) of the act inserted by the finance act no.2, act 14 with effect from 01.04.2015 to contend that the said amendment applies retrospectively ..... . inserted with effect from 1.4.2015 by finance act no.2/2014, reads as under: or set (6) apart in this section where any income is required to be applied or accumulated for application, then, for such purposes the income shall be determined without any deduction or allowance by way of ..... the shall 24 (ii) where a trust or an institution has been granted registration under clause (b) of sub-section (1) of section 12aa or has obtained registration at any time under section 12a [as it stood before is amendment by the finance (no.2) act, 1996] ..... clarified when compared with certain other provisions which have been made retrospectively in the same finance act. 28 26 ..... finance act ..... , the common substantial question of law that arises for our consideration is as under: whether the tribunal is correct in holding that depreciation is allowable under section 11 of the act, and there is no double claim of capital expenditure as held by the assessing officer and the principles enunciated by the apex court in escorts ltd. ..... nos.233-234/2013, ita no.1/2013, ita no.433/2013, ita no.414/2010, on the assessment orders denying exemption under section 11 read with section 10(23c) of the act and making an addition of income on account of disallowance of depreciation, the assessee preferred appeals which were allowed in favour of the assessee. .....
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