Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Sorted by: old Page 17 of about 15,869 results (0.366 seconds)

V. I. P. Industries Ltd. Vs. Inspecting Assistant Commissioner.

Court : Mumbai

Reported in : [1990]32ITD331(Mum)

..... since it speaks for itself and its effect is so very clear inasmuch as it speaks of, with effect from 1-6-1988.7. in the memo explaining provision in finance act, 1988, vide para 48, dealing with the topic, amendment of provisions relating to revision of orders prejudicial to revenue, it is stated in very clear terms and that speaks ..... injunction of any court shall be excluded.'4. now the issue for our decision is whether the explanation appended to sub-section (1) of section 263 of the act, which was substituted by the finance act, 1988 with effect from 1-6-88 will apply and, if so, to what effect. the assessee claims that this explanation being effective from 1-6-1988 ..... if we have to take that to be so, which, in this case, is then explanation appended to sub-section (1) of section 263 of the act, which was substituted (as mentioned above by finance act, 1988), is to be effective from 1-6-88. the cut off date if clearly mentioned and accordingly it has to be held that the statute speaks .....

Doom Dooma Tea Co. Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

..... tax is repealed by the amendment of section 4 of act vii of 1964 by the finance act xxiii of 1986. the surtax is discontinued for and after the assessment year 1988-89 under the finance act, 1986. 3. the income-tax was levied at first in 1886. in that act, no distinction was drawn of sources like profession, business ..... indian (or imperial) legislative authority introduced super-tax in 1917 and substituted in 1920 by another act. when the 1922 income-tax act was promulgated, the provisions of the 1920 act were incorporated in sections 55 to 58 in chapter ix of that act. in these sections, super-tax was levied and quantified separately from the income-tax. this ..... pattern is maintained in chapter xi of the 1961 act. super-tax is levied and quantified under sections 104 to 109 of the act. in chapter xi in sections 95 to 109, certain companies are classified, grouped and defined like industrial companies and .....

Kerala State Industrial Development Corporation Ltd. Vs. Commissioner ...

Court : Kerala

Reported in : [1989]180ITR323(Ker)

..... same also. this was so said on the basis that the only specification made was that the deduction should be computed before making any deduction under chapter vi-a of the act. on appeal by the assessee, the income-tax appellate tribunal upheld the said order passed by the commissioner of income-tax in revision. thereafter, ..... the income referred to in section 28 ... (viii) in respect of any special reserve created by a financial corporation which is engaged in providing long-term finance for industrial or agricultural development in india, an amount not exceeding-(a) in the case of a financial corporation or a joint financial corporation established under the ..... . the patna and madhya pradesh high courts have held that the statutory deduction under section 36(1)(viii) of the income-tax act, 1961, available to certain financial corporations providing long-term finance is to be calculated on the total income before deduction of the amount allowable under section 36(1)(viii). it has been held .....

Assistant Collector of Customs (imports) Vs. Sundaram Textiles

Court : Chennai

Reported in : 1990(25)ECC392; 1989(25)LC470(Madras); 1989(44)ELT464(Mad)

..... 6 and 7 granted full exemption of customs leviable under chapter 38 [this should read 'chapter 56'.] of the first schedule of the customs tariff act, and also the auxiliary duty of 20 per cent leviable under section 32 [this should read 'section 35(4)'.] of the finance act, while 2 notification no. 8, an additional duty ..... , had been periodically extended and was also in force upto and inclusive of 31-12-1978. the next series of exemption notifications are issued only on 5-1-1979 as notification nos. 6, 7 ..... chapter 56 of the first schedule of the customs tariff act, 1975 and the whole of the additional duty leviable under section 3 of the act, had been periodically extended and was in force upto and inclusive of 31-12-1978. similarly, notification no. 385 dated 23-7-1976, granting exemptions from the auxiliary duty of customs leviable under section 32(1) of the finance act .....

Collector of Central Excise and Vs. Papyrus Papers Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1989)(24)ECC150

..... that meanwhile the central excises & salt act, 1944 was amended by the finance (no. 2) act of 1980 making provisions for the constitution of this tribunal and substituting a new chapter via in place of erstwhile chapter via in the central excises & salt act, 1944 whereby sections 35,35a and 36 of the act were replaced. the result of this amendment ..... or special order which appears to be necessary or expedient for the purpose of removing such difficulty, under sub-section (3) of section 50 of the finance (no. 2) act of 1980. exercising these powers the central government passed "the customs, central excise & gold (control) removal of difficulties order, 1982 making the provisions of ..... ) by the department or by the concerned party the legislature itself empowered the central government under sub-section (3) of section 50 of the finance (no. 2) act, 1980 to pass any general or special order to do anything not inconsistent with the amended provisions which appear to be necessary or expedient for .....

Commissioner of Income-tax Vs. Shree Bajrang Electric Steel Co. (P.) L ...

Court : Kolkata

Reported in : [1990]181ITR427(Cal)

..... of such dividends as are computed in accordance with the provisions of this act, before making any deduction under this chapter and not with reference to the gross amount of such dividends. a perusal of the memo explaining the provisions of the finance bill, 1980, would show that the intention behind this provision was that ..... the precise computation of the profit attributable to the new industrial undertaking lose their importance after the supreme court'sdecision in rajapalayam mills ltd. v. cit : [1978]115itr777(sc) , namely, that the deficiency in the new business can be set off against profits from the old business and that no separate recomputation with ..... undertaking for which the deductions under section 80j and 80-i were claimed, the supreme court decision in the case of rajapalayam mills ltd. v. cit : [1978]115itr777(sc) was no longer applicable because of the amended provision. he, therefore, rejected the assessee's contention holding the claim only to be of academic .....

Rajasthan State Electricity Board Vs. Trilok Chand

Court : Rajasthan State Consumer Disputes Redressal Commission SCDRC Jaipur

..... complaint, the complainant could not institute the suit for restoration of electric supply and compensation. it may be stated here that chapters i, ii and iv of the act came into force on 15.4.87 and chapter iii came into force on 1.7.87. the complaint is highly belated inasmuch as the disconnection of the electric supply was ..... national commission). it was observed therein- "as indicated above, by us in some of our earlier judgments, the award of compensation by the forums established under the act has to be made only on well recognised legal principles governing the quantification of damages or compensation. the compensation to be awarded has to be quantified on a rational ..... of, loss or injury was suffered by him. it is only in such event that award of compensation is warranted under the provisions of sec. 14(1)(d) of the act, (see consumer unity society, calcutta v. chairman and the managing director, bank of baroda (original petition no. 2/88, decided on may 18,1989, by the national .....

Kothari and Sons and Others Vs. N. Subramanian, Income-tax Officer, Ce ...

Court : Chennai

Reported in : [1992]196ITR82(Mad)

..... the settlement becomes void.' 16. there was a second proviso to section 245d(1) till april 1, 1979, which was omitted with effect from that date by the finance act, 1979. the second proviso read as hereunder : 'provided further that an application shall not be proceeded with under this sub-section if the commissioner objects to the ..... passed its final order of settlement under section 245d(4), was not maintainable. while allowing the petition, the learned judge had considered all the relevant sections in chapter xixa and their effect. it was the view of the learned judge that when the settlement commission, after dealing with the objections of the commissioner raised under section ..... . c. no. 2164 of 1982, on the file of the same court, has been prayed for. the offenced alleged are also the same. the assessment year is 1978-79. the respondent filed the complaint before the trial magistrate on october 11, 1982. messrs. kothari and sons, the first petitioner (a-1), has filed an application .....

Trinity Electric Syndicates and ors. Vs. S.N. Shende of Bombay and ors ...

Court : Mumbai

Reported in : 1990(3)BomCR104

..... powers of the commissioner under this sub-section shall extend to such matters as had not been considered and decided in such appeal.the explanation was further amended by finance act, 1989 with retrospective effect from 1-6-1988 on the basis of which the explanation (b) to section 263(1) came to be as :(b) 'record ..... this amendment explanation (b) was inserted reading as:(b) 'record' includes all records relating to any proceeding under this act available at the time of examination by the commissioner.it was amended in the present form by the finance act, 1989 with retrospective effect from 1-6-1988. in the present form it reads as under :(b) 'record' ..... assessment and directing a fresh assessment.this section was thereafter first amended by the taxation laws (amendment) act, 1957 with effect from 1-4-1958. this amendment was of not much consequence. the section was again amended by the finance act, 1988 with effect from 1-6-1988. by this amendment explanation to section 263(1) was amended .....

N.C. Rangesh and ors. Vs. Inspector General of Registration, Registrat ...

Court : Chennai

Reported in : (1991)233MLJ1

..... to or in any property valued at more than two lakhs rupees, no registering officer appointed under that act shall register any such document.chapter xx-c consisting of sections.269-u to 269' vo of income-tax act, 1961 has been introduced by the finance act, 1986 with effect from 1.10.1986. section 269-ua(b) defines 'apparent consideration' and it ..... .3.1977 and 29.5.1989 are ex facie arbitrary, illegal and without jurisdiction. it is also stated that section 230-a(1) of the income-tax act, 1961, (as amended by finance act, 1988) provides that a tax clearance certificate is necessary, if the valuation of the property transferred exceeds rs. 2 lakhs, that said value of the transfer ..... income-tax clearance certificate could be insisted upon. as such, in my view, in all these cases before me, neither section 230-a of the income-tax act, 1961 nor chapter xx-c will apply especially when undivided share is sold under a valid sale deed or under a valid agreement of sale as provided in the transfer of .....