Court : Gujarat
Reported in : (1987)59CTR(Guj)116; [1987]166ITR316(Guj)
..... the assessee-company has been rightly held as an 'industrial company' within the meaning of the aforesaid provisions of the financed act so as to qualify for lower rate of tax as stipulated under the said finance act.' it was the duty of the tribunal to discuss the evidence which was led by the assessee-company and reach and ..... in the various decisions helps it in reaching the conclusion that the assessee-company was an industrial company within the meaning of the aforesaid provisions of the finance (no. 2) act, 1971. the tribunal has also not properly appreciated the various clauses of the agreement entered into between the assessee-company and the bhavnagar firm. prima facie ..... attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter vi-a of the income-tax act) is not less than fifty one per cent. of such total income.' 8. the assessee-company claimed that it is an 'industrial company' .....
Tag this Judgment!Court : Gujarat
Reported in : [1987]165ITR300(Guj)
..... should have concealed the particulars of his income or deliberately furnished inaccurate particulars of such income, but the word 'deliberately' was omitted from the section by the finance act, 1964. what is the effect of this omission does not fall for determination in this case because the assessee is sought to be brought within section 271(1 ..... to the deeming fiction contained in the explanation. the explanation which was not originally there when section 271(1)(c) was enacted but which was introduced by the finance act, 1964, provides that where the total income returned is less than eighty per cent. of the total income assessed, the assessee shall, unless he proves that the ..... is under an obligation to file a true return (vide a. k. bashu sahib v. cit : [1977]108itr736(mad) . in addl. cit v. e. bhoopathy [1978] 113 itr 188, the madras high court was called upon to consider the question whether the tribunal was justified in cancelling penalties imposed on the assessee under section 271(1 .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)54CTR(Guj)241; (1986)2GLR1342; [1986]162ITR240(Guj)
..... of the regular assessment. 20. at this juncture, it would be appropriate to point out that at the time when the provisions of section 19 of the act were inserted in the statute book by the finance act, 1968, with effect from april 1, 1968, it was explained, inter alia, in the memorandum explaining the provisions of the ..... to have been issued in respect of the regular assessment when such assessment is completed.' 21. in the case of swadeshi cotton mills co. ltd. v. ito : [1978]112itr1038(all) , it has been held that section 141a(1) provides that where a return has been furnished under section 139 and the assessee claims that the advance tax ..... deductions. under the mercantile method of accounting, as stated earlier, the moment the liability is incurred, it would be an admissible deduction. what section 43b of the act states is that irrespective of the fact that the liability is already incurred, that would be an admissible deduction only when the actual amount in that regard is paid. .....
Tag this Judgment!Court : Gujarat
Reported in : (1986)54CTR(Guj)272; (1987)1GLR3; [1986]162ITR28(Guj)
..... and required by auditors for purposes of commercial audit less for tax audit. the fact that the impugned section 44ab was placed on the statute book by the finance act, 1984, and was not made effective till april 1, 1985, coupled with the rules being published for the first time on january 31, 1985, as ..... of accounting and what would be the mechanics of accounting are also indicated by the institute of chartered accountants of india in the monograph of compulsory maintenance of accounts, chapter-4, paragraph 4.13.2 is instructive. it reads as under : '4.13.2. vouchers or documentary evidence. - the reliability placed on accounts prepared ..... is apparent unequal treatment, would not make a provision unconstitutional provided the classification is intelligible and has reasonable relation with the object (see in re special courts bill, 1978, : [1979]2scr476 ). we are unable to agree with the contentions urged on behalf of the petitioners obviously for the following reasons. in the first place, .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1987Guj113; (1987)1GLR437
..... question was with regard to the effect of a notification issued by the central government under the provisions of the sugar undertaking (taking over of management) act (49 of 1978). the question before the supreme court was whether the trial of the suit filed by the state bank of india against the sugar company and its guarantors ..... parliament. the bank as well as its employees have a duty towards the entire nation. that is why the employees of the bank have the protection of chapter iii of the constitution with regard to the terms and condition of their employment. the employees of the bank including the top officers of the bank enjoy ..... this legislation also was not sufficient to meet the requirements of the developing economy and hence the introduction of 'social control' by enacting the banking laws (amendment) act, 1968. this also failed to achieve the object and hence the nationalization of banks. 39. after the nationalization of banks, the banking companies and in particular respondent .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1987Guj234; (1987)1GLR514
..... of the privy council and the supreme court, in the case of secretary of state v. mask & co. , the question was regarding adjudication under the sea customs act, 1978 and there, the provision for exclusion of jurisdiction of the civil court was that every order passed in appeal subject to the power of revision shall be final. even in ..... the opponent's plaintiffs. by clause 26(2) only the provisions of s. 100 of the criminal p. c. are incorporated and not the provisions of s. 165 or chapter xii of the code. under s. 100, there is no such requirement. this question has been directly decided in the case of dr. partap singh v. director of enforcement ..... conveyance used in carrying such essential articles without further direction from the officer making such order. (2) the provisions of s. 100 of the code of criminal procedure act, 1973 (act 2 of 1974) relating to search and seizure shall apply to search and seizure under this clause also-: provided that if any such place or premises be found .....
Tag this Judgment!Court : Gujarat
Reported in : 1988(35)ELT88(Guj); (1988)1GLR388
..... a suit under section 72. the basic requirements of section 72 which contemplated another type of quasi-contract and which is found in the same chapter v of the contract act dealing with certain relations resembling those created by contract, have therefore, of necessity, to be pleaded and proved by the plaintiff and in the ..... by the plaintiff directly in this court against the state of gujarat and the defendant-municipality challenging the vires of the gujarat act no. 6 of 1978, viz., dhrangadhra municipality (imposition of tax) validation act, 1977. for the sake of convenience, we shall refer to dhrangadhra municipality as the defendant and dhrangadhra chemical works as ..... the recovery was illegal. these decisions have also proceeded, with respect, on a misreading of the decision of the supreme court in d. cawasji's case, : 1978(2)elt154(sc) , and more is read therein than what actually emerges from it, as discussed earlier. consequently, these judgments also cannot be of any assistance to .....
Tag this Judgment!Court : Gujarat
Reported in : [1988]174ITR77(Guj)
..... a suit under section 72. the basic requirements of section 72 which contemplated another type of quasi-contract and which is found in the same chapter v of the contract act dealing with certain relations resembling those created by contract, have therefore, of necessity, to be pleaded and proved by the plaintiff and in the ..... by the plaintiff directly in this court against the state of gujarat and the defendant-municipality challenging the vires of the gujarat act no. 6 of 1978, viz., dhrangadhra municipality (imposition of tax) validation act, 1977. for the sake of convenience, we shall refer to dhrangadhra municipality as the defendant and dhrangadhra chemical works as ..... that the recovery was illegal. these decisions have also proceeded, with respect, on a misreading of the decision of the supreme court in d. cawasjis case, : 1978(2)elt154(sc) , and more is read therein than what actually emerges from it, as discussed earlier. consequently, these judgments also cannot be of any assistance .....
Tag this Judgment!Court : Gujarat
Reported in : (1987)66CTR(Guj)89; [1987]168ITR805(Guj)
..... to be the income of the previous year relevant for the assessment year 1952-53 and the entire income must be assessed at the rate specified in the relevant finance act.' 11. the abovesaid decision has no bearing on the fact of this case. the condition imposed by the income-tax officer in the abovesaid case treating the period ..... of 15 months as they are applicable to the previous year of 12 months. the assessee shall not claim excess depreciation, investment allowance and other statutory deductions under chapter vi-a in respect of the excess period of 3 months comprised in the previous year.' are quashed. rule is made absolute to the above extent only with ..... of 15 months as they are applicable to the previous year of 12 months. the assessee shall not claim excess depreciation, investment allowance and other statutory deductions under chapter vi-a in respect of the excess period of 3 months comprised in the previous year.....' 2. no doubt, the prayer in the special civil application is wider .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1989Guj81; (1988)1GLR209
..... areas comprised in arty housing scheme sanctioned under the act. this is the only relevant provision in chap. iv. chapter v is with regard to constitution of tribunal under the act with which we are not concerned. chapter vi empowers the board to evict persons from board premises. chapter vii is relating to finance, accounts and audit, while chap. viii provides for ..... to be an arbitrary choice. the supreme court bench heavily relied upon the earlier decision of the supreme court in the case in re the special courts bill, 1978 air 1979 sc 478 wherein the then learned chief justice had laid down the following principles to judge the validity of the impugned provisions under art. 14 of ..... . therefore, a large latitude is allowed to the states for classification upon any reasonable basis. see also in this connection the observations of this court in the special courts bill 1978 (19794 2 scr 476 : (air 1979 sc 478), where chandrachud, c.j. speaking for the court at page s 534 to 537 (of scr : (at p .....
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