Judgment Search Results Home > Cases Phrase: finance act 1978 section 19 amendment of section 155 Court: allahabad Page 4 of about 2,540 results (0.128 seconds)

Sahara India Savings and Investment Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... 1991, the counsel for the asscssce stated that it would lead to inference that interest on securities was now included within the meaning of interest as defined in section 2(7) of the finance act, 1991. it was submitted that (a) deletion of exclusion of interest on securities would not operate to include the same within the purview of interest unless it is ..... by the hon'ble supreme court in the following eases :(sc), alladi venkateswarlu v. govt. of andhra pradesh [1978] 41 stc 394, 398 (sc).11.7 in view of above discussion, the fact remains that the provisions of section 2(7) of the act, as they stood at the relevant time, are coucbed in a language which is not free from ambiguity and .....

Hirday NaraIn Yogendra Prakash Vs. Income-tax Officer, A-ward, Bareill ...

Court : Allahabad

Reported in : [1965]58ITR828(All)

..... of tax. tax is imposed annually by parliament, and is assessed and charged on annual profits or gains. in respect of every year a section is inserted in a finance act which charges income tax and surtax for that year, and which provides that all enactments relating to income-tax which had effect for the previous ..... that rate or those rates shall be charged for that year in accordance with.... this act in respect of the total income of the previous year..... of every person.'the central act referred to in section 4 is usually the finance act. the finance act, 1956, was enacted to give effect to the financial proposals of the central government for ..... on the passing and the application of the annual finance act. thus, income is chargeable to tax independent of the passing of the finance act but until the finance act is passed no tax can be actually levied. a comparison of section 3 and 6 of the act shows that the act recognises the distinction between chargeability and the actual operation of .....

Ram Swarup Kaushal Vs. Union of India (Uoi) and anr.

Court : Allahabad

Reported in : [1983]139ITR887(All); [1981]6TAXMAN174(All)

..... local authority, and7. every artificial juridical person not falling under any of the categories mentioned above.16. sub-paragraph i of para. a of the first schedule to the finance act, 1974, lays down the rates for the following categories of assessees;1. individual2. huf (other than an huf of which at least one member had total income exceeding rs ..... or other associations of persons or body of individuals whether incorporated or not, and4. every artificial juridical person referred to in sub-clause (1) of clause 31 of section 2, not being those to whom sub-para. ii applies.17. sub-para. ii lays down higher rates for calculating tax in respect of an huf of which at ..... of the amount received by a member of a joint hindu family as a result of sharing the profits of the joint family business, however, is different. section 10(2) of the act lays down :' in computing the total income of previous year of any person, any income falling within any of the following clauses shall not be included... 1 .....

Commissioner of Income-tax Vs. Brij Transport Company Ltd.

Court : Allahabad

Reported in : [1973]87ITR52(All)

..... end of the assessment year was barred by time. relying upon the decision of the gujarat high court, the tribunal held that the order passed under section 23a after its amendment by the finance act of 1955 in the instant case was barred by time. the tribunal, however, did not consider the second contention raised on behalf of the assessee ..... was placed by the tribunal was taken up in appeal before the supreme court. the supreme court held that an order under section 23a of the indian income-tax act, 1922, as amended by the finance acts of 1955 and 1957, made by the income-tax officer directing payment of additional super-tax was not an order of assessment ..... and in the circumstances of the case, the tribunal was right in holding that an order under section 23a of the act after its amendment by the finance act of 1955 is an order of assessment to which the period of limitation prescribed, under section 34(3) applies and such an order cannot, therefore, be made after the expiration of the .....

Commr. of Income-tax, U.P., Lucknow Vs. Radhaswami Satsang Sabha

Court : Allahabad

Reported in : AIR1954All291; [1954]25ITR472(All)

..... 54. then came the decision of the house of. lords in -- 'brighton college v. marriott', 1926 ac 192 (w), in which viscount cave pointed out that-'by the finance act, 1921 (section 30), exemption is granted from income-tax under schedule d in respect of the profits of a trade carried on by any charity, if the work in connection with the ..... that besides the rooms themselves there were other services provided. the language of our act, section 4(3) (i), however, is much wider and it uses the word'property' and not the words 'lands, tenements, hereditaments or heritages.'53. in 1921 certain amendment was made by the finance act of that year and a clause (c) was added which granted exemption 'from ..... gains, and so fall under the burden of the tax.'55. as a result of this decision a further amendment was made in the income-tax law by the finance act of 1927 (see s. 24) and a further exemption was granted if the trade was exercised in the course of the actual carrying cut of a primary purpose of .....

Commissioner of Income-tax Vs. Dhampur Sugar Mills Ltd.

Court : Allahabad

Reported in : [1996]220ITR671(All)

order--sec. 263(1)(c) inserted by finance act, 1989, effect of.ratio :order of tribunal holding that assessing officer's order merged in the order of appellate authority requires reconsideration as section 263(1)(c) was inserted by the finance act, 1989, with retrospective effect from 1-6-1988 and the order of the tribunal was passed much earlier.held :section 263(1)(c) was inserted by the finance act, 1989, with retrospective effect from 1-6-1988. if the amended provision is taken into aid, then the tribunal will not be right in holding that the order of the assessing officer stood merged in the order of the appellate authority. since the tribunal did not and could not advert to clause (c) of section 263(1), as it passed its order on much earlier date, the matter requires reconsideration in view of section 263(1)(c) of the assessing officer. application :not to current assessment years.income tax act 1961 s.263

Orient Arts and Crafts Vs. Commissioner of Income Tax

Court : Allahabad

Reported in : (2005)198CTR(All)378; [2005]279ITR581(All)

..... the ito. according to the assessee, it is as small scale exporter and is entitled to the benefit under section 35b(1a). section 35b was amended by insertion of section 35b(1a) by the finance act, 1978, w.e.f 1st of april, 1978, and was omitted w.e.f. 1st of april, 1980. the ito found that the assessee was ..... does not own any plant and machinery upto the prescribed limit would not be entitled to claim weighted deduction under section 35b of the act, in view of clause (1a) of section 35b, as it stood by the finance act, 1978.9. all the three authorities have found that the assessee does not own any plant and machinery. the learned ..... treated as an 'industrial company'. the interpretation of 'industrial company' as contained in the first schedule to the finance act, 1966, was involved. section 2(7) of the finance act, 1966, inter alia, reads as follows :'for the purposes of this section and the first schedule.--(d) 'industrial company' means a company which is mainly engaged in -the business of .....

In Re: Income-tax Assessment of Misrimal Gulabchand of Beawar for the ...

Court : Allahabad

Reported in : AIR1950All270

..... the appellant or his daughters, nor assessment of such income, until the passing of the indian finance act of 1939, which imposed the tax for 1939-40 on the 1938-39 income and authorised the present assessment. by sub-section (1) of section 6, finance act, 1939, income-tax for the year beginning on 1st april 1939, is directed to be ..... '. this can only refer to the indian income-tax act, 1922, as it stood amended at the date of the indian finance act, 1939, and necessarily includes the alterations made by the amending act, which had already come into force on 1st april 1939.'similar provisions are contained in section 6, finance act of 1914, and on a parity of reasoning the ..... charged at the rates specified in part 1 of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that 'for .....

Mishrimal Gulabchand of Beawar, in Re.

Court : Allahabad

Reported in : [1950]18ITR75(All)

..... appellant or his daughters, nor assessment of such income, until the passing of the indian finance act of 1939, which imposed the tax for 1939-40 on the 1938-39 income and authorised the present assessment. by sub-section (1) of section 6 of the indian finance act, 1939, income-tax for the year beginning on the 1st april, 1939, is directed ..... can only refer to the indian income-tax act, 1922, as it stood amended at the date of the indian finance act, 1939, and necessarily includes the alterations made by the amending act, which had already come into force on the 1st of april, 1939.'similar provisions are contained in section 6 of the finance act of 1944, and on a parity of ..... to be charge at the rates specified in part i of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that .....

Additional Commissioner of Income-tax Vs. Smt. Vimla Mali

Court : Allahabad

Reported in : [1977]109ITR555(All)

..... her deceased husband. 4. in reply to the objection raised by sri sharma, the learned standing counsel appearing for the revenue submitted that under the explanation to section 271 inserted by the finance act, 1964, when the total income returned by a person is less than 80 per cent. of the total income as assessed, the burden is on such ..... of the income of her husband was. not due to any fraud or any gross or wilful neglect. in such a situation even if the explanation to section 271(1) inserted by the finance act,' 1964, should be applied, the respondent should be held to, have discharged theburden placed by the explanation. hence, sri sharma is right in our ..... positive finding by the tribunal that there was no concealment of income, by the respondent and hence the answer to the question whether the explanation to section 271(1)(c) inserted by the finance act, 1964, does or does not apply to the present case, will have no effect upon the ultimate decision as to whether penalty should be .....