Court : Gujarat
Reported in : (2008)1GLR392
..... the complaint, which had been filed by the borrowers, complainant alleging that the petitioner finance company had vilotated provisions of the bombay money lenders act 1946. the petitioner finance company had taken up a ground that in view of the provisions of section 2(9)(g) of the money lenders act 1946 the loan to a trader was not covered under the bombay money lenders ..... meaning of term sloan defined in the bombay money lenders act 1946 so as to attract the applicability of the bombay money lenders act 1946. this court has in case of sundaram finance limited (sfl) (supra) considered the provisions of section 2(9)(g) of the bombay money lenders act 1946 in a proceedings under section 482 of the code of criminal procedure while examining the .....
Tag this Judgment!Court : Gujarat
Reported in : (1981)24CTR(Guj)228; [1982]133ITR800(Guj)
..... defined as the liability to pay in presenti or in futro an ascertainable sum of money; that the charging section for the purposes of income-tax was s. 3 of the indian i. t. act, 1922, and the annual finance acts only gave the rate for quantifying the tax; that a liability to pay income-tax was a present liability ..... of these years. the assessment only particularised the amounts; it did not create the right, for the right came into existence as soon as, according to the relative finance act, it became ascertained that the tax deducted at source or treated as paid on its behalf had exceeded the tax payable. that right, therefore, was an asset ..... the accounting year and not a contingent liability. the rate was always easily ascertainable. if the finance act was passed, it was the rate fixed by that act; if the finance act was not yet passed, it was the rate proposed in the finance bill pending before parliament or the rate in force in the preceding year, whichever was more favorable .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]112ITR577(Guj)
..... dividend, the payment of that loan should be treated as distribution of dividend within the meaning of section 23a. 11. it should be noted that clause (e) of section 2(6a) of the act and section 23a were both substituted simultaneously, for the original provisions by the finance act, 1955, with effect from 1st april, 1955. the object of both of the provisions is to prevent ..... has used the expression 'distributed' in clause (b) of the second proviso to paragraph d of part ii of the finance act, 1956, it intended to include 'paid' or 'payment'. by enacting clause (e) of section 2(6a) of the indian income-tax act, 1922, the legislature has created a fiction and has made the payments referred to in clause (e) 'dividend' for the .....
Tag this Judgment!Court : Gujarat
Reported in : (2007)208CTR(Guj)439
..... ', it is evident that advancement of any other object of general public utility is also charitable purpose. the above definition of 'charitable purpose' is modified by the finance act, 1983, with effect from april 1, 1984. before the above amendment, the purpose, i.e., advancement of any other object of general public utility was qualified ..... the institution and not about the nature of the income. if the object of the institution falls within the definition of charitable purposes under section 2(15) of the act and the institution is genuinely carrying out such object, the commissioner of income-tax must register the institution. therefore, the moot question to ..... specific duties and therefore they cannot be said to be doing any charitable work. he contended that the statutory body is not entitled to exemption under section 11.learned counsel for the assessee has strongly opposed the above submissions of the learned departmental representative.8.1 after considering the arguments of both the .....
Tag this Judgment!Court : Gujarat
Reported in : 1991LC16(Gujarat); (1992)1GLR548
..... . section 35(4) also provides that the customs act, 1962 and the rules made thereunder shall apply in relation to the levy and collection of the auxiliary duty of customs ..... written down in the body of the customs tariff act, 1975. the provisions of the customs act, 1962 and the provisions of the customs tariff act, 1975 are supplementary to each other. they cannot be applied and implemented without the aid of each other. similar is the position with regard to finance act, 1975. by section 35 of the finance act, 1978, auxiliary duty of customs has been imposed .....
Tag this Judgment!Court : Gujarat
Reported in : [1985]152ITR251(Guj)
..... the company. the terms 'relevant amount of distribution of dividends' is explained in explanation 1 to item i of paragraph f of part i of the first schedule to the finance act, 1967, and it is to be computed accordingly. once that is computed, what is the amount in which additional tax at 7.5% has to be paid has ..... in the circumstances of the case, the tribunal was justified in confirming the order of the income-tax officer passed under s. 154 of the income-tax act, 1961, holding that the said section was applicable (2) whether, on the facts and circumstances of the case, the tribunal was justified in confirming the adoption of the figures of dividend declared ..... ' or a 'possible different approach' from a different perspective. in other words, he had no alternative case as to what else could have been the view of the section on the facts. only where there is a possibility of the assessee contending that he has a different case or a different approach or that there is a debatable question .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)195CTR(Guj)14; [2005]274ITR242(Guj)
..... (pvt.) ltd. : [1990]186itr609(cal) , the question before the calcutta high court was whether the assessee was a industrial company within meaning of section 2(7)(c) of the finance act, 1981 and whether the assessee was entitled to investment allowance in respect of a generator installed by it. the assessee was carrying on the business of ..... court followed the decision of cit vs. datacons (p.) ltd. (supra) and held that the assessee was an industrial company within meaning of section 2(7)(c) of the finance act, and therefore, the assessee was entitled to get investment allowance in respect of the generator installed by it.9.3 in case of commissioner of income ..... tax vs. shaw wallace and co. ltd. : [1993]201itr17(cal) , the calcutta high court referred to the decisions in the case of addl. cit v. a. mukherjee and co.(p.)ltd. : [1978 .....
Tag this Judgment!Court : Gujarat
Reported in : 1992(57)ELT529(Guj)
..... . section 35(4) also provides that the customs act, 1962 and the rules made thereunder shall apply in relation to the levy and collection of the auxiliary duty of customs ..... written down in the body of the customs tariff act, 1975. the provisions of the customs act, 1962 and the provisions of the customs tariff act, 1975 are supplementary to each other. they cannot be applied and implemented without the aid of each other. similar is the position with regard to finance act, 1975. by section 35 of the finance act, 1978, auxiliary duty of customs has been imposed .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)199CTR(Guj)556
..... hotel building is not deductible for arriving at wdv in view of the amendments effected by finance act, 1983? 2. the assessment year is 1985-86 and the relevant accounting period is calender year ended on 31st december, 1984. while computing depreciation allowance under section 32 of the act, the assessing officer, decreased the written down value (wdv) of hotel building by deducting initial ..... the purposes of granting depreciation under section 32(1)(ii) of the act because of the last portion appearing in clause (v) of section 32(1) of the act. this phrase, but any such sum shall not be deductible in determining the written down value for the purposes of clause (ii) has been omitted from the statute by the finance act, 1983 with effect from 01 .....
Tag this Judgment!Court : Gujarat
Reported in : (2005)196CTR(Guj)515; [2007]291ITR294(Guj)
..... in and substituted the said expression 'free from all encumbrances' by the finance act, 1993 with retrospective effect from 17.11.1992 by the portion in parenthesis. simultaneously, by the very same finance act and with retrospective effect from the said date i.e. 17th november,1992, proviso to sub-section (1) of section 269ue came to be inserted. the substituted provision and the proviso read ..... as under :'269ue.(1) where an order under sub-section (1) of section 269ud is made by the appropriate authority in respect of .....
Tag this Judgment!