Court : Orissa
Reported in : (1992)103CTR(Ori)222; [1993]199ITR761(Orissa)
..... finance (no. 2) act, 1967, with effect from april 1, 1968 ; the finance (no. 2) act, 1971, with effect from april 1 ..... ' shall have the-meaning assigned to it in section 3 of the companies act, 1956 (1 of 1956). ' 4. clause (viii) as was originally enacted corresponds to section 10(2)(xiva) of the 1922 act. the old provision was re-enacted in identical terms in the 1961 act. but, subsequently, it has undergone several amendments by the finance act, 1966, with effect from april 1, 1966 ; the .....
Tag this Judgment!Court : Orissa
Reported in : (1992)101CTR(Ori)247; [1992]198ITR110(Orissa)
..... where there is dispute about the liability. in the case of certain assessees, practical difficulties were encountered. with a view to get over them, amendments in section 43b were introduced by the finance act, 1987. under the law as amended, if an assessee has paid sales tax, additional sales tax, central sales tax, etc., on or before the ..... these provisions is to provide for a tax disincentive by denying deduction in respect of a statutory liability which is not paid in time. the finance act, 1987, inserted a proviso to section 43b to provide that any sum payable by way of tax or duty, etc., liability for which was incurred in the previous year will be ..... revenue.4. for adjudication of the question referred to this court, we feel it necessary to trace the legislative history of section 43b. this section was inserted by the finance act, 1983, with effect from april 1, 1984. the section, so far as it is relevant for our purpose, reads as follows :'43b. certain deductions to be only on actual .....
Tag this Judgment!Court : Orissa
Reported in : [1955]28ITR136(Orissa)
..... made the original assessment came to the conclusion that the rate at which the super-tax was assessed by virtue of the provisions of section 6(4) (v) of the finance act, 1939, should be the rate prescribed by the finance act of the previous year, viz., of 1938, and the assessment was accordingly made on the 16th march, 1940. in the following ..... issued. from the above resume of facts it would be seen that the ordinance in question had been promulgated before the decision on the reference under section 66(1) had been pronounced and the finance act of 1939 had been made applicable to chota nagpur with effect from 30th march, 1939, i.e., before the close of the financial year ..... only of his view of the law as to whether the rates of the finance act of 1939 were applicable and as in his view the rates of the finance act of 1939 were applicable that in his view constituted 'definite information' so as to attract the operation of section 34. it was found that the view of the second officer about the .....
Tag this Judgment!Court : Orissa
Reported in : AIR1955Ori106; 21(1955)CLT555
..... who made the original assessment came to the conclusion that the rate at which the supertax was assessed by virtue of the provisions of section 6(4)(v) of the finance act, 1939, should be the rate prescribed by the finance act of the previous year, viz., of 1938, and the assessment was accordingly made on 16-3-1940. in the following july, ..... issued. from the above resume of facts it would be seen that the ordinance in question had been promulgated before the decision on the reference under section 66(1) had been pronounced, and the finance act of 1939 had been made applicable to chota nagpur i.e. before the close of the financial year 1939-40, with effect from 30-3 ..... 1939-40 on 22-12-1939. on appeal the income-tax appellate tribunal set aside the assessment on the ground that the indian finance act, 1939, was not in force in chota nagpur, on a reference under section 66(1), the high court agreed with the view of the appellate tribunal. after the decision of the appellate tribunal, but before .....
Tag this Judgment!Court : Orissa
Reported in : [1993]203ITR641(Orissa)
..... (c) after april 1, 1976. originally, the word 'deliberately' existed which was omitted by the finance act, 1964, with effect from april 1, 1964. an explanation was inserted at the end of sub-section (1) of section 271 by the said finance act (section 40 of the finance act, 1964). in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the ..... quantum of tax sought to be avoided under the then existing provisions. subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). four explanations were substituted for the explanation introduced by the finance act, 1964. the effect of the said amendment, so far as we are concerned, is that where, in respect of facts material to .....
Tag this Judgment!Court : Orissa
Reported in : [2005]141STC26(Orissa)
..... decisions taken in the industrial policy itself. in this view of the matter, any notification issued by the government order in exercise of power under section 7 of the bihar finance act, if is found to be repugnant to the industrial policy declared in a government resolution, then the said notification must be held to be bad ..... ltd. [1999] 112 stc 258 ; (1998) 8 jt 2 (sc) wherein it was held that a notification issued in exercise of powers under section 7 of the bihar finance act cannot authorise the state government to negate the incentives and the benefits which an industrial unit would otherwise be entitled to under the industrial policy resolution of the ..... suprabhat steel ltd. [1999] 112 stc 258 in which it was held that a notification issued by the state government in exercise of powers under section 7 of the bihar finance act to the extent it is repugnant to the industrial policy resolution of the government of bihar is bad. he submitted that since withdrawal notifications dated 30th .....
Tag this Judgment!Court : Orissa
Reported in : 2004(I)OLR107; [2005]139STC305(Orissa)
..... this view of the matter, any notification issued by the government order in exercise of power under section 7 of the bihar finance act, if is found to be repugnant to the industrial policy declared in a government resolution, then the said notification must be held to be ..... and the supreme court held :'coming to the second question, namely the issuance of notification by the state government in exercise of power under section 7 of the bihar finance act, it is true that issuance of such notifications entitled the industrial units to avail of the incentives and benefits declared by the state government in ..... is issued by the state government after such policy is approved by the cabinet itself. the issuance of the notification under section 7 of the bihar finance act is by the state government in the finance department which notification is issued to carry out the objectives and the policy decisions taken in the industrial policy itself. in .....
Tag this Judgment!Court : Orissa
Reported in : 108(2009)CLT33; [2009]19STJ357(NULL)
..... was deposited within 30 days of the order the penalty imposed under section 78 of the finance act, 1994 shall stand reduced to rs. 2,67,93,473 provided further that the reduced penalty is also deposited within 30 days from the communication of that ..... rs. 18,51,104, totaling the amount to rs. 11,91,73,890 on the petitioner-corporation under the proviso to section 73(1) of the finance act, 1994, along with interest payable under section 75 of the said act. apart from the above, the petitioner was also imposed with a penalty equal to rs. 200 for every day during which ..... actual payment of the outstanding amount, as well as, a further penalty of rs. 1000 under section 77 of the finance act, 1994. the commissioner has further imposed a penalty of rs. 11,91,73,890 of the petitioner under section 78 of the finance act, 1994 and directed that if the service tax amount and the education cess along with interest .....
Tag this Judgment!Court : Orissa
Reported in : AIR1968Ori1
..... prescribed under the finance act, it was necessary that it should not only be used for the conveyance of goods but also be constructed or adapted for such use, and that as the car had ..... the ground that the user of the car was for a purpose which brought it within a class to which a higher rate of duty is chargeable under the said finance act. he was convicted by the magistrate. on appeal it was contended on behalf of the appellant that to render a motor car subiect to higher rate of duty as is ..... ) and the owner would be liable to be punished under section 123their lordships approved the legal position as laid down in payne v. all' cock, 1932-2 k. b. 413. that was a case where the owner of a private motor car paid duty thereon at the horse-power rate under the finance act of 1920. the car was neither constructed nor adapted .....
Tag this Judgment!Court : Orissa
Reported in : [1959]36ITR100(Orissa)
..... and would include re-assessment.re-assessment will without doubt come within the expression levy, assessment and collection of income-tax occurring in section 13(1) of the finance act.the three expressions levy, assessment and collection are of the widest significance and embrace in their broad sweep all such proceedings for raising ..... 25 and 28, 1950, respectively, which would restrict the meaning of the expression levy, assessment and collection of income-tax in section 13(1) of the finance act; nor do the recommendations bring section 13(1) into conflict with articles 278 and 295 of the constitution of india.'this decision on the interpretation of the expression ..... mohanty, the learned counsel for the assessee, contends that under section 3 of the income-tax act which is a charging section, no tax can be levied unless the annual finance act is passed. section 3 of the indian income-tax act is as follows :'where any central act enacts that income-tax shall be charged for any year at .....
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