Judgment Search Results Home > Cases Phrase: finance act 1976 section 27 amendment of act 27 of 1957 Court: allahabad Page 1 of about 63 results (0.089 seconds)

Commissioner of Wealth-tax Vs. Sheela Devi Goel

Court : Allahabad

Reported in : (1980)16CTR(All)127; [1981]132ITR517(All)

..... the aac in the appeals against the assessment orders on september 21, 1970, suffered from a mistake apparent on the record as a result of the legal fiction brought about by the restrospective opsration given to the amendments made in section 5(1)(viii) of the principal act and the wto was justified in moving the aac to rectify that mistake and the aac and the appellate tribunal, both, erred in not doing so.9. ..... to the wealth-tax act, 1957, was not a mistake apparent from the record capable of being rectified under section 35 of the wealth-tax act, 1957?'3. ..... 1 which was added to section 5(1)(viii) by section 32 of the finance (no, 2) act of 1971 could or could not be pressed into service while interpreting the word 'jewellery' for the period prior to april 1, 1972, came up for consideration before this ..... amratlal : [1976]102itr105(guj ..... 1976, dismissed those appeals and hence at the instance of the commissioner of wealth-tax and in compliance with the direction issued by this court, the following question of law has been referred for our opinion:'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in holding that the allowance of exemption on the value of the jewellery in the light of the retrospective amendment .....

A. H. Wheeler and Co. Private Ltd. Vs. Income-tax Officer, Allahabad.

Court : Allahabad

Reported in : [1964]51ITR92(All)

this is a writ petition under article 226 of the constitution directed against the orders dated the 17th july, 1962, under section 35 of the income-tax act, 1922 (hereinafter referred to as the act), withdrawing the super-tax rebate under clause i (c) to the second proviso to paragraph d of part ii of the first schedule of the finance act of 1958.the material facts leading up this petition are these : the petitioner is a company duly registered with effect from ..... assessment year 1957-58, the same income-tax officer reduced the amount of super-tax in terms of the finance act of 1957, the relevant provision whereof was in the same terms as that contained in the finance act of 1956 ..... that the provision in the finance act of 1951 in respect of additional income-tax on account of excess dividend was ultra vires and the provisions of the finance acts of 1958 and 1959 were analogous to the provision in the finance act of 1951 and, therefore, the super-tax rebate could not have been withdrawal and (3) that the matter was a controversial one which could not be decided under section 35 of the income-tax act, a provision which deprived ..... tax, where it was pointed out that the provisions of the first schedule, part ii, paragraph d of the finance act of 1956, which is in pari materia with the relevant finance acts of 1958-59, was not at all analogous to the provisions of the finance act of 1951 which their lordships of the supreme court were called upon to consider in commissioner of income-tax v. .....

A.H. Wheeler and Co. P. Ltd. Vs. Income-tax Officer, a Ward

Court : Allahabad

Reported in : [1973]88ITR231(All)

..... it appears that in the rectification proceedings before the income-tax officer it was contended that the relevant provisions of the two finance acts were in pari materia with the provisions of clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act, 1951, and that, as that provision had been held invalid by the bombay high court in khatau makhanji spinning and ..... this is a case where the income-tax officer omitted to apply the relevant provisions of the finance acts of 1958 and 1959, and we are satisfied that the omission constitutes a mistake apparent from ..... it is said, a debatable question whether the finance act, 1958, and the finance act, 1959, warranted 'the reduction of super-tax rebate ..... on july 17, 1962, the income-tax officer made two separate orders under section 35 of the act for the two assessment years purporting to rectify the mistake apparent from the ..... the first contention is that in regard to the case of the assessment year 1959-60, the order under section 35 of the act was made after the assessment order had been modified in appeal and it was not open to the income-tax officer to rectify an assessment order after it had been ..... other contention is that the income-tax officer acted outside the scope of section 35 of the act inasmuch as there was no mistake apparent from ..... the income-tax officer issued a notice under section 35 of the act for each assessment year pointing out that there was an error apparent on the record which .....

income-tax Appellate Tribunal Vs. B. Hill and Co. (P.) Ltd.

Court : Allahabad

Reported in : (1982)29CTR(All)301; [1983]142ITR185(All)

..... sale of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to tax concession provided under section 2(5)(a)(i) of the finance act, 1964 ? (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is not a company as is ..... of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to the tax concession provided under section 2(4)(a)(i) of the finance act, 1967 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is not a company as is ..... import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to the tax concession provided under section 2(5)(i) of the finance act, 1966 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is nota company as is ..... sale of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to tax concession provided under section 2(5)(a)(i) of the finance act, 1965 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is not a company as is ..... distributor's case : [1976]104itr711(guj) . .....

Ved Vyas Chawla Vs. the Income Tax Officer 'C' Ward and Anr.

Court : Allahabad

Reported in : AIR1965All37; [1965]57ITR749(All)

..... therefore, income chargeable under the head 'salaries' by implication will not be subjected to additional surcharge which came to be levied under the finance act of 1963 under section 2(a)(i) and (ii) for the first time. ..... question to be considered whether additional surcharge or additional tax which could have been levied under article 271 can be levied only on a particular class and not on the public in general, the argument is that in the finance act of 1963, which is the impugned provision, the salaried class of persons has been excluded from the application of the provisions for the levy of surcharge. ..... the relevant portion of section 2 sub-clause (2) of the finance act 1963, reads; '(2) in making any assessment for the assessment year commencing on the 1st day of april, ..... employees have always, at least since the income-tax act of 1922, been taxed on the basis' of the finance act current during the year when the salary is received and not on the basis of the finance act enacted after the year has come to a close. ..... the compulsory deposit scheme applies to a well defined class and the finance act of 1963 cannot be said to place any restriction on the free exercise of any profession, trade or occupation. ..... the charge of discrimination, therefore, cannot legitimately be levied against the finance act of 1963 in the matter of 'additional surcharge' as the classification is neither arbitrary nor capricious; it is a perfectly understandable, intelligible and reasonable classification. .....

Addl. Commissioner of Income-tax Vs. Farrukhabad Cold Storage (P.) Ltd ...

Court : Allahabad

Reported in : [1977]107ITR816(All)

..... it was contended that the assessee was an industrial company within the meaning of section 2(7)(d) of the finance acts of 1966 and 1967 and, therefore, its income was taxable at the concessional rate of 55 per ..... question for our opinion : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was legally correct in holding that the assessee-company was an 'industrial company ' within the meaning of section 2(7)(d) of the finance acts of 1966 and 1967 and was, therefore, entitled to concessional rate of taxation ' 2. ..... this being so, the assessee-company would be an industrial company as defined in section 2(7)(d) of the finance acts of 1966 and 1967, and, therefore, entitled to the concessional rate of tax. ..... the 'processing of goods ' as used in section 2(7)(d) of the finance acts need not be of such a nature as to result in the manufacture of new ..... may be noted that in section 271(1)(c), quoted above, both the words ' manufacture ' and ' process ' were used as are used in the present section 2(7)(d) of the finance acts in hand. ..... to the question referred to us depends upon the interpretation to be put on the word 'industrial company' as defined in section 2(7)(d) of the finance acts of 1966 and 1967. ..... appellate assistant commissioner of income-tax held that the activities of running the cold storage falls in the category of processing of goods and, as such, the assessee-company was an industrial company as defined in section 2(7)(d) of the finance acts. .....

Allahabad District Co-operative Bank Ltd. Vs. Union of India (Uoi) and ...

Court : Allahabad

Reported in : [1972]83ITR895(All)

..... it will thus be seen that the only effect of making a provision like that of section 81 of the act is that the income-tax authorities will have to compute the income-tax in respect of the total income of the petitioner (including surcharge and the additional surcharge calculated in the manner provided in the finance act of 1963) and from that an amount equal to the income-tax calculated at the average rate of income-tax on the amount of which no income-tax is ..... additional surcharge levied under the finance act of 1963, not being income-tax as contemplated by section 81 of the income-tax act, 1961, the petitioner is not exempt from paying it.12 ..... section 2 of the finance act of 1963, which is the relevant finance act for our purposes, provides for the charge of income-tax at the rates specified in part 1 of the first ..... 010.09 as additional surcharge computed under section 3 of the indian finance act, 1963. ..... section 2 of the finance act purports to charge only income-tax and provides how the income-tax is to bo ..... section 2 of the finance act, 1963, clearly indicates that the total amount computed in the manner provided therein after adding the surcharge and the additional surcharge, is the total amount of income-tax that is payable by an ..... learned counsel appearing for the revenue, however, urged that a perusal of the various provisions of the finance act shows that the legislature treated the imposition of ' additional surcharge ' as a levy distinct and separate from ' income-tax .....

Ms Md Overseas Limited Vs. Director General of Income Tax and Others

Court : Allahabad

..... (ix) the position of assessment in post finance act 1995 is as follows: (a)in case a search is valid then assessment for the block period under chapter xiv b or assessment for six previous assessment years under section 153a to 153c can be done; (b)if the search is invalid then neither the block assessment under chapter xivb nor assessment of previous six assessment years under section 153a to 153c can be done {ajit jain vs union of india: 2000 (242) itr 302} though ..... sub-section (2) of section 24 {section 24(2)} of the rti act also empowers the central government to amend the second ..... sub-rule (2) of rule 112 of the income tax rules, 1962 (the rules) as it stood prior to its substitution by the income-tax (fourth amendment) rules, 1975 specifically provided that the authority must record his reasons before issuing a warrant of authorisation for search. ..... this schedule was amended by the notification dated 27.3.2008 published in the gazette of india extraordinary, part-ii-section 3-sub-section (i) dated 28.3.2008 ..... the assessing officer could make block assessment of previous ten (later amended to six) years up to date of search of the undisclosed income detected as a result of search or ..... essentially, the wp and the amendment application, (i) challenge the search and seizure action; (ii) question the centralisation of assessment case at noida; and (iii) seek a direction for conducting the assessment proceeding at delhi, in case the answer to the aforesaid questions is in negative. .....

Doctors X-ray and Pathology Institute Ltd. Vs. Commissioner of Income- ...

Court : Allahabad

Reported in : [1961]42ITR185(All)

..... the contention of the assessee that it was not liable to pay additional income-tax on the so called excess dividends was not accepted by the tribunal and hence this reference.we are concerned with the finance act, 1951 and paragraph b of the first schedule reads :'b in the case of every company -ratesurchargeon the whole of total incomefor annas in the rupeeone twentieth of the rate specified in the perceding clumn: ..... section 2 of the finance act prescribes the rates of income-tax by its first schedule and by the seventh sub-section of that section provides :for the purposes of this section and of the rates of tax imposed thereby, the expression total income means total income as determined for the purposes of income-tax or super-tax as the case may be, in accordance with the provisions of the income-tax act...it is thus clear from this that if there is no income, there ..... 4,276 under clause (ii) of the the proviso to section b of part 1 of schedule 1 of the indian finance act, 1951, in determining the income-tax payable by the company for the ..... within the territory of india excluding the state of jammu and kashmir, of the dividends payable out of such profits, and has deducted super-tax from the dividends in accordance with the provisions of sub-section (3d) or (3e) of section 18 of that act -(1) where the total income, as reduced by seven annas in the rupee and by the amount, if any exempt from income-tax exceeds the amount of any dividends (including dividends payable at a .....

thermal Contractors Asscn. Vs. Dir. Rajya Vidyut Utpadan Nigam Ltd.

Court : Allahabad

Reported in : (2006)205CTR(All)384; 2006[4]STR18

..... it has further held that under section 68 of the finance act, 1994, as amended by the finance act 1997, read with rule 2(1)(d)(ix) of the service tax rules 1994. ..... according to the petitioner, their members also entitled for reimbursement of the amount of service tax, which they have to pay under the provisions of section 67 and 68 of the finance act, 1994 read with rules 6 of the service tax rules, 1994.3. ..... sri ravi kant, learned senior counsel submitted that from the reading of various provisions of the finance act, 1994 relating to imposition of service tax and the rules framed thereunder, the members of the petitioner association are under the obligation to pay service tax to the union of india, and deposit the tax, non ..... and it is registered under the societies registration act, 1860. .....