Judgment Search Results Home > Cases Phrase: finance act 1978 section 19 amendment of section 155 Court: kolkata Page 14 of about 2,816 results (0.138 seconds)

Kastur Chand JaIn Vs. Gift Tax Officer, K Ward, Dist. Iii (2), and Oth ...

Court : Kolkata

Reported in : [1961]42ITR288(Cal)

..... depend 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 sections 3 and 6 of the act shows that the act recognised the distinction between chargeability and the actual operation of ..... during the previous year (other than gifts made before the 1st day of april, 1957), at the rate or rates specified in the schedule to the act. section 5 specifies certain exemptions. section 6 is important and relates to the method of determining the value of gifts and runs as follows :'6. value of gifts, how determined. - ..... of the balance-sheets, no further details have been given. on april 19, 1960, the petitioner was served with a notice of demand under section 31 of the gift-tax act. thereafter, this application has been made. it has been stated in the petition that the valuation has been made without disclosing the method of valuation .....

Kastur Chand JaIn Vs. Gift Tax Officer 'K' Ward, Dist. Iii (2) and Ors ...

Court : Kolkata

Reported in : AIR1961Cal649,65CWN706

..... of the tax depend on the passing and 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 sections 3 and 6 shows that the act recognises the distinction between chargeability and the actual operation o the charge.'8 ..... basis of the balance-sheets, no further details have been given. on the 19th april, 1960 the petitioner was served with a notice of demand under section 31 of the gift tax act. thereafter, this application has been made. it has been stated in the petition that the valuation has been made without disclosing the method of valuation, is ..... amount has been ascertained as rs. 2,68,503/- and the total tax payable as rs. 21,020.36 np. the assessment was done under section 15(3) of the gift tax act. on the face of the assessment order, it has been stated that the calculation was made on the basis of the latest balance-sheets available for .....

Reliance Jute Mills Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1972]86ITR570(Cal)

..... four and five years, respectively.'4. later on, the following amendment was made in the aforesaid subsection by section 16 of the finance act, 1955 :'16. amendment of section 24, act xi of 1922.--in sub-section (2) of section 24 of the income-tax act,-- (1) for the words beginning with 'where any assessee sustains a loss of profits' and ending with ..... ' shall be inserted.' 6. in this case, before the tribunal, it was submitted that by reason of the change introduced in section 24(2) of the income-tax act by the finance act of 1955, the loss suffered in any year could be carried forward indefinitely subject to the restrictions in proviso (f). it was urged ..... the same business, profession or vocation'.' 5. yet another amendment came to section 24(2)(iii) as per finance act, 1957, which reads as follows:'8. amendment of section 24.--in section 24 of the income-tax act,--*finance (no. 2) act, 1957. (a) in clause (iii) of sub-section (2), after the words 'following year and so on', the words ' .....

Commissioner of Income-tax Vs. K.L. Thirani and Co. Ltd.

Court : Kolkata

Reported in : [1996]218ITR149(Cal)

..... to the decision of this court in cit v. sri jagannath steel corporation : [1991]191itr676(cal) , wherein this court has held that the amendments to section 43b made by the finance acts, 1987 and 1989 are clarificatory and, therefore, the provisos inserted by these amendments, should also apply to earlier years, even though the provisos and the ..... allowing an opportunity of being heard to the assessee.'as it would appear from its conclusion, the tribunal took the view that the amendments to section 43b as made by the finance acts of 1987 and 1989 should also apply with equal force to the assessment year earlier than the assessment year 1988-89. the provisos inserted by ..... the finance act, 1987, with effect from april 1, 1988, relax the main provision of section 43b by permitting deduction of the liabilities on account of (i) any tax, duty cess or fee ; (ii) any .....

Commissioner of Income-tax Vs. West Bengal Industrial Development Corp ...

Court : Kolkata

Reported in : [1993]203ITR422(Cal)

..... making any deduction under chapter vi-a but before making also any deduction under the aforesaid provision, i.e., section 36(1)(viii). 18. section 10 of the finance act of 1985 has amended section 36(1)(viii) of the act with effect from april 1, 1985. the object of the said amendmentis set out in the memorandum explaining ..... . west bengal industrial development corporation ltd., is admittedly a financial corporation within the meaning of clause (viii) of sub-section (1) of section 36 of the income-tax act, 1961. the dispute in the assessment years 1978-79 and 1983-84 related to the manner of computation of the deduction allowable to the assessee under clause (viii) ..... of sub-section (1) of section 36 of the act. the income-tax officer computed the deduction at the stipulated percentage of the total income arrived at after allowing the .....

Ballarpur Industries Ltd. Vs. Collector of Customs and ors.

Court : Kolkata

Reported in : 1987(30)ELT195(Cal)

..... said bill of entry according to the petitioner illegally by leaving auxiliary duty at the rate of 35% ad valorem. although according to the petitioner section 44, sub-section (1) of the finance act, 1982 provides that in case of goods mentioned in the first schedule as amended from time to time there shall be levied and collected as ..... by virtue of notification of the government of india the whole of the auxiliary duty of customs leviable on such goods under sub-section (1) of section 44 of the finance act of 1982. the petitioner contended that the brass scrap so imported by the petitioner fell within serial no. 109 which had been exempted from ..... of customs leviable on such goods under sub-section (1) of section 44 of the finance act, 1982. hence, the petitioner contended that the goods so imported by, the petitioner will exempt from the whole of the auxiliary duty of customs leviable on such goods under sub-section (1) of section 44 of the finance bill 1982.4. by notification dated 11th .....

Bharat Devi Oil Mill and ors. Vs. Inspector of Central Excise

Court : Kolkata

Reported in : 1978(2)ELT53(Cal)

..... of mustard oil which according to the authorities became subject to excise duty at the rate of rs. 75 per ton, thereafter increased from time to time. in the finance act, 1960, this item was renumbered as item no. 12. the petitioners and their association did not accept mustard oil as coming within the ambit of them no. 23 ..... the only point for consideration is whether mustard oil comes within the ambit of item 13 in first schedule to the central excises and salt act, 1944. this item was introduced by the finance act of 1956 and is to the following effect .'vegetable non-essential oil all sorts, in or in relation to the manufacture of which any process ..... relief moved this court in constitutional writ jurisdiction for writs commanding the respondents not to levy or realise excise duty on mustard oil under the central excises and salt act, 1944. the grounds urged were the 'vegetable non-essential oil all sorts' did not include mustard oil and those terms were to vague to include any specific .....

Eastern Spinning Mills and Indus. Ltd. Vs. Union of India (Uoi)

Court : Kolkata

Reported in : 1989(21)LC260(Calcutta),1988(37)ELT14(Cal)

..... dated 1st november, 1980 exempted the whole of the duty of customs as well as the additional duty levied under section 3 of the customs tariff act 1975 (act no. 51 of 1975) as also the duties levied under the finance act in the form of auxiliary duties of customs. therefore, according to the petitioner, the demand of the customs authorities ..... additional duty of customs and the auxiliary duty of customs. the additional duty of customs if levied under section 3 of the customs tariff act, in the form of countervailing duty and the auxiliary duty of customs is levied under the finance act. may be that the said 'additional duty' and the said 'auxiliary duty of customs' are also ..... of the duty of customs, no matter whether the same was levied under the customs act or whether the same was levied in the form of additional duty under section 3 of the customs tariff act and whether the same was levied under the finance act, in the form of auxiliary duties of customs. the petitioner wanted me to read .....

Cementation Patel Vs. Commissioner of Commercial Taxes

Court : Kolkata

..... be a dealer or a person carrying on the business of selling in respect of the said transactions. he referred to section 2 of the bengal finance (sales tax) act, 1941, which provided as follows :section 2. in this act, unless there is anything repugnant in the subject or context,-(1a) 'business' includes-(i) any trade, commerce or manufacture ..... the terms of the contract, including the nature of the obligations to be discharged thereunder and the surrounding circumstances.(d) state of tamil nadu v. the hindu [1978] 41 s.t.c. 105.-in this case the applicant, publisher of a newspaper, had procured some newsprint for a particular publication, which was ultimately not published ..... submitted that the question was covered by a decision of this court in davy and united engineering co. ltd. v. commissioner of commercial taxes, west bengal, calcutta [1978] 42 s.t.c. 90-. the applicant in that case, also a member of the same consortium, had been engaged in transactions identical to those of the applicant .....

Shri Mohan Lal Chokhany Vs. the Commercial Tax Officer and ors.

Court : Kolkata

Reported in : [1971]28STC367(Cal)

..... the period, a penalty not exceeding one and a half times the amount should not be imposed on you under the central sales tax act, 1956, read with sub-section (1) of section 11 of the bengal finance (sales tax) act, 1941'. now, surely on its own terms, this is not a penalty under rule 12 of the central sales tax (west bengal ..... is further reinforced by the order of penalty imposed in the present appeal. it will be recalled that notice under section 9 of the central sales tax act read with section 11 and section 14(1) of the bengal finance (sales tax) act was given to the appellant inter alia 'to show qause...why in addition to the amount of tax to ..... dismissed the application and the petition by an order and judgment dated the 19th february, 1970. the learned judge came to the conclusion that under section 11 of the bengal finance (sales tax) act, the sales tax authorities in west bengal were empowered to impose penalty for non-submission of return or late submission of return and also for .....