Court : Madhya Pradesh
Reported in : [1979]116ITR347(MP)
..... provides what is envisaged by section 3 of the indian i.t. act, 1922, or section 4 of the i.t. act, 1961, that the finance act shall declare the rates applicable. the division ..... amount declared would be a 'debt owed' within the meaning of section 2(m) of the w.t. act, 1957. the division bench of the kerala high court in c.k. babu naidu v. wto : [1978]112itr341(ker) further holds that the latter part of section 68 of the finance act, 1965, is only a machinery provision and the earlier provision ..... r.m. sahai jj. in cwt v. sheo kumar gupta : [1978]111itr92(all) and of the delhi high court, by ansari and khanna jj., in cwt v. girdhari lal : [1975]99itr79(delhi) , taking the view that the amount declared by the assessee under section 68 of the finance act, 1965, partakes of the character of total income assessable under .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2001)170CTR(MP)520; [2001]252ITR764(MP); 2002(1)MPLJ180
..... be treated to be conveying a family arrangement. he was right in coming to that conclusion in view of the provisions of section 171(9) of the income-tax act which were to come into force by december 31, 1978. he was empowered to come to a conclusion that the said document was not effecting a family arrangement as contended by the ..... be liable to be assessed under this act as if no such partial partition had ..... ) and no finding shall be recorded under sub-section (3) that such partial partition had taken place and any finding recorded under sub-section (3) to that effect whether before or after the 18th day of june, 1980, being the date of introduction of the finance (no. 2) bill, 1980, shall be null and void ;(b) such family shall continue to .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1982)31CTR(MP)188; [1982]137ITR329(MP)
..... high court considered the expression used in the definition of 'industrial company' under section 2(6)(d) of the finance act, 1968. (the definition of 'industrial undertaking' under the explanation to section 5(1)(xxxi) is identical with the definition of 'industrial company' under the finance act, 1968). the assessee-company was a printer and publisher of a fortnightly journal, ..... assessee is a partner in a partnership firm, m/s. mehta & company, petlawad. for the assessment year 1977-78, the assessee claimed exemption under section 5(1)(xxxi) of the w.t. act, 1957, in respect of her capital invested in the firm, m/s. mehta & company, petlawad. according to the assessee the above firm was ..... this finding of the tribunal and answered the question in favour of the assessee.8. in addl. cit v. a. mukherjee and co. (p.) ltd. : [1978]113itr718(cal) , a similar question came up before the calcutta high court in respect of an assessee-company, which was only a publisher of books. the calcutta high .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1996)133CTR(MP)1; [1996]217ITR636(MP)
..... central board of direct taxes in an effort to clarify the press note and certain circulars issued by the ministry of finance regarding declaration of higher income or wealth. the applicant, therefore, filed an application under section 256(1) of the act before the income-tax appellate tribunal for referring the case to this court. the question of law framed by the ..... of 1978-79, 1979-80 and 1981-81, as rs. 9,000 for the assessment year 1981-82, as rs. 10,000 for each of the assessment years 1982-83 and ..... , prahladrai hassomal. he expired on november 14, 1989. his widow, smt. ishwaribai, was admitted as a partner in this firm. the returns of income for the assessment years 1978-79 to 1983-84 werefiled by the assessee, hassomal, on march 31, 1987, under the amnesty scheme declaring his income as rs. 5,000 for each of the assessment years .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1997]225ITR427(MP)
..... . civil case no. 120 of 1989 and question no. (ii) in misc. civil case no. 578 of 1992 may be considered in these two cases.8. section 171(9) of the act, inserted by the finance (no, 2) act, 1980, with effect from april 1, 1980, provides as under :' (9) notwithstanding anything contained in the foregoing provisions of this ..... section, where a partial partition has taken place after the 31st day of december, 1978, among the members of a hindu undivided family hitherto assessed as undivided, -- (a) no ..... and any finding recorded under sub-section (3) to that effect whether before or after the 18th day of june, 1980, being the date of introduction of the finance (no. 2) bill, 1980, shall be null and void ; (b) such family shall continue to be liable to be assessed under this act as if no such partial partition .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1980]124ITR728(MP)
..... revised return showing his income from truck business. on these facts, the department sought to impose penalty under the provisions of section 271(1)(c) of the act as amended by the finance act, 1968. this court held that the act of concealment was committed by the assessee on 4-7-66 when he filed his original return and, therefore, the penalty ..... have been initiated after the amendment came into force. thus, according to this decision also the act of concealment of income is committed by the assessee when the return of the income is filed.7. in addl.cit v. c.v. bagalkoti & sons : [1978]115itr131(kar) , it has been held by the karnataka high court that a concealment of ..... income which attracts section 271(1)(c) of the act in the absence of any other statutory provision compelling the court to take a contrary view, takes place when .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 2004(164)ELT399(MP)
..... of the mere fact of the goods having been produced or manufactured and unrelated to and not dependent on any commercial transaction in them. the duty levied under section 7(2) of the finance act, 1951, satisfied this test and the fact that it was imposed with retrospective effect did not alter its essential character as such and convert it into direct ..... . supreme court, which will be referred hereinafter. a reference may be made to a decision given in the case of central provinces & berar sales of motor spirit and lubricants taxation act [1978 (2) e.l.t. (j269) (f.c.) = air 1939 fc 1] in which their lordships of federal court of india have observed :'there can be no reason why ..... distinguished from direct taxes like taxes on property and income.'by following the earlier decision of the hon. supreme court as well as decisions of [1978 (2) e.l.t. j269 (f.c.) = air 1939 fc 1] [1978 (2) e.l.t. j292 (f.c.) = air 1942 fc 33] and [1945 pc 98] referred to above, their lordships distinguished the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)204CTR(MP)555
..... appeal or reference with the leave of the court, furnish proof of such withdrawal along with the intimation referred to in sub-section (2). '13. sub-section (2) of section 90 of the finance (no. 2) act, 1998 quoted above provides that the declarant shall pay the sum determined by the assessing authority within thirty days of the passing ..... the assessee and if so, whether such an appeal stood withdrawn when such an order was issued under sub-section (2) of section 90 of the finance (no. 2) act, 1998 by the designated authority.12. section 90 of the finance (no. 2) act, 1998 is quoted hereinbelow :'90. time and manner of payment of tax arrear(1) within sixty days ..... the material particulars and, therefore, the designated authority should be at liberty to take action in accordance with the said proviso to sub-section (1) of section 90 of the finance (no. 2) act, 1998.11. in this appeal we are not called upon to decide as to whether the material particulars furnished with the declaration by .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1988]173ITR126(MP)
..... gain on value of yarn entitlement ? (5) whether, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(ii) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amounts representing the drawback of customs duty, refund of excise duty and ..... of the commissioner of income-tax : (4) whether, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(i) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amounts representing the drawback of customs duty, refund of excise duty and ..... that it was not revenue expenditure. the income-tax officer also rejected the claim of the assessee that the amount of rebate allowable under section 2(5)(a)(i) and (ii) of the finance act in force, should be calculated by including in the turnover the amounts representing drawback of customs duty, refund of excise duty and premium .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2004]137STC269(MP)
..... touch-stone of section 84 read with section 86 of the act, without the issuance of the requisite statutory notification (under the provisions of bihar finance act, 1981), the policy resolution of 1995 by itself was ..... from 1995 policy resolution nor was it permissible under the bihar finance act, 1981. this apart, we have also very strong doubts whether the 1995 policy resolution by itself can be termed to be 'law' either within the scope and ambit of section 2(f) of the act or even otherwise. we are saying so, because on the ..... when undivided state of bihar was in existence, the state government's intention was to grant incentive with respect of the payment of sales tax under the bihar finance act, 1981. 1995 policy resolution did not contain or carry any explicit or implied indication that the state government intended to grant any exemption with respect to the .....
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