Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Court: madhya pradesh Page 19 of about 373 results (0.184 seconds)

Commissioner of Income-tax M. P. Vs. Badri Prasad Agarwal.

Court : Madhya Pradesh

Reported in : (1983)29CTR(MP)341; [1983]142ITR353(MP)

..... has shown that the construction adopted by the mysore high court is the correct construction. by the finance act, 1979, expln. 2 has been added in s. 64 which in specific terms says that for the purpose of the section 'income' includes loss. speaking generally, subsequent legislation cannot be used for construction of an earlier statute ..... parliamentary exposition of the meaning of the word 'income' as used in the unamended section, for, that word, in the context of s. 64, was really ambiguous and had given rise ..... 61 of 1972, and the amendment introduced by this amending act, though not retrospective, was used as a parliamentary exposition of its intent contained in the unamended section [see manickam & co. v. state of tamil nadu : [1977]1scr950 ]. the explanation added in s. 64 by the finance act, 1979, though not in terms retrospective serves as a .....

Anup Prabha Bai Sethi Vs. Commissioner of Income-tax, M. P.

Court : Madhya Pradesh

Reported in : [1962]44ITR237(MP)

..... liable to income-tax and super-tax at the rates prescribed by the relevant finance act. but the part b states (taxation concessions) order, 1950, made by the central government in exercise of its power under section 60a of the indian income-tax act granted certain concessions in respect of taxation of income accruing or arising in any part b state. the ..... of net dividend paid out of the profits which have been taxed in the taxable territories other than a part b state may be grossed up under section 16 (2) of the act before its inclusion in the assessees total income. but if the shareholder is an assessee falling under paragraph 4 the tax payable on the entire dividend income ..... or was received by a resident in any of the indian states was not subject to any tax under the indian income-tax act which was not in force in those states. clause (c) of sub-section (2) of section 14, as it stood then, also exempted income which accrued or was received in the indian states and was not brought .....

Commissioner of Income-tax Vs. Bherulal Shrikishan

Court : Madhya Pradesh

Reported in : (1983)36CTR(MP)115; [1984]145ITR805(MP)

..... in cit v. anwar ali : [1970]76itr696(sc) . the decision was rendered under the 1922 act which did not contain any provision analogous to the explanation to section 271(1)(c) of the act which was introduced by the amendment of section 271(1)(c) by the finance act, 1964, w.e.f. 1st april, 1964. we have reproduced the relevant portion of the ..... appellate tribunal's order and it is clear from a mere perusal thereof that the appellate tribunal did not consider the question of burden proof in the wake of the explanation to section 271(1)(c) ..... of the act.6. though there .....

Addl. Commissioner of Wealth-tax Vs. Smt. Manjuladevi Muchhal

Court : Madhya Pradesh

Reported in : [1979]119ITR43(MP)

..... 30th june of the corresponding assessment year is a completed default and not a continuing default; and what all clause (i) of section 18(1) as amended by the wealth-tax (amendment) act, 1964, and by section 24 of the finance act, 1969, provides is for the scale of penalty that should be levied for every month during which the return was not bled. '9 ..... initiated or when the penalty order was imposed as urged by the revenue. '7. similar is the view taken in cwt v. p. c. m. sundarapandian : [1978]114itr367(mad) and cwt v. c. s. manvi : [1978]114itr417(kar) .8. a division bench of the andhra pradesh high court in cwt v. v. r. desai : [1977]108itr787(ap) :' in the ultimate analysis, we .....

Commissioner of Income Tax Vs. M/S Krishi Upaj Mandi Samiti Timarni

Court : Madhya Pradesh

..... of the depreciation in computing his total income, or not. it is submitted that the aforesaid amendment as explanation 5 to sub-section (1) of section 32 has been inserted by the parliament by the finance act, 2001 w.e.f.01.04.2002 and is applicable in the present case. so far as the contribution by the respondent ..... as depreciation is concerned, it has been rightly allowed by the tribunal in view of specific provision as contained in explanation 5 to sub-section (1) of section 32 of the income tax act which specifically provides that the depreciation shall be allowed to the assessee in spite of the fact that the assessee had claimed deduction in ..... is found. so far as the depreciation part is concerned, explanation 5 to sub-section (1) of section 32 of the income tax act provides thus:- "explanation 5.- for the removal of doubts, it is hereby declared that the provisions of this sub-section shall apply whether or not the assessee has claimed the deduction in respect of depreciation .....

Mohan Trading Company and ors. and Hari Shankar Shrivastava and anr. V ...

Court : Madhya Pradesh

Reported in : (1986)52CTR(MP)329; [1985]156ITR134(MP)

..... article 226 of the constitution, challenge is made to the constitutional validity of ss. 44ab and 271b of the i.t. act, 1961 (hereinafter called 'the act'), introduced in the act by section 11 of the finance act, 1984 (act no. 11 of 1984), rule 6g in chapter ccc introduced in the i.t. rules, 1962 (hereinafter called 'the rules ..... is a reasonable classification ; and greater latitude is available to the legislature for classification. [see british india corporation ltd. v. collector of central excise, allahabad : 1978(2)elt307(sc) and anant mitts v. state of gujarat : [1975]3scr220 ]. the intelligible differentia on which the classification is based is obvious in the present case ..... legislation is not a ground to challenge its constitutionality. in the words of krishna iyer j. in murthy match works v. asstt. collector of central exise : 1978(2)elt429(sc) ' unconstitutionally and not unwisdom of a legislation is the narrow area of judicial review '. all the same, a brief reference may be made .....

Addl. Commissioner of Wealth-tax, M.P. Vs. Jamnalal Ramlal Kimtee.

Court : Madhya Pradesh

Reported in : [1983]139ITR625(MP)

..... the prior approval of the inspecting assistant commissioner of wealth-tax before the wealth-tax officer could impose a penalty and not the provisions of section 18(1)(a) as amended by the finance act, 1969 ?'the material facts giving rise to this reference, as set out in the statement of the case, briefly are as follows : ..... would be useful to refer to the necessary provisions of the act. prior to the amendment of s. 18 with effect from april 1, 1965, sub-s. (4) of that section provided as follows :'(4) the wealth-tax officer shall not impose any penalty under this section without the previous approval of the inspecting assistant commissioner of wealth ..... -tax.'the aforesaid provision was deleted by the amending act no. 46 of 1964, which came into force from april 1 .....

Commissioner of Income Tax Vs. Shree Tea Co. and ors.

Court : Madhya Pradesh

Reported in : (1996)135CTR(MP)66

..... of patna in case of jamshedpur motor accessories stores vs. union of india (1991) 91 ctr (pat) 19 and thus affirmed the order of cit(a). sec. 43b was amended by the finance act, 1987. the proviso was made effective from 1st april, 1988. the decision of the tribunal had rested on the order passed in ita no. 1151/ind/ ..... in the applications :(i) that the tribunal erred in law in giving retrospective effect to the amendments effective from 1st april, 1988 in s. 43b of the it act by exceeding its jurisdiction in reading more than what the parliament has expressly provided.(ii) that the taxing statute is passed after great scrutiny and the tribunal erred in ..... cause list for analogous hearing as connected matters. these misc. civil cases are registered on the applications of the cit, bhopal presented under s. 256(2) of the it act, 1961 and contain the undernoted question, categorised as one of law, for direction to the tribunal to state the case and refer the question for our opinion :'whether, .....

Commissioner of Wealth-tax Vs. Smt. Sonal K. Amin

Court : Madhya Pradesh

Reported in : (1980)16CTR(MP)391; [1981]127ITR427(MP); 1980MPLJ425

..... for personal use ' and that section 5(1)(xv) dealt with jewellery in general whether intended for personal use of the assessee or not. to counteract the effect of this decision, clause (viii) was amended by the finance (no. 2) act of 1961. the first amendment material for our purposes introduced by this act in clause (viii) was to ..... tax lr 194 . contrary view has been taken on this point by the orissa and calcutta high courts. [see cwt v. binapani chakraborty [1978] 114 itr 82 and cwt v. aditya vikram birla : [1978]114itr711(cal) . having given our anxious consideration to the problem, we are inclined to agree with the view taken by the orissa and ..... not including jewellery ' were retrospectively added with effect from 1st april, 1963, and the explanation was added only with effect from 1st april, 1972, by the same finance act gives out the clear intention of parliament that the wider meaning given in the explanation is not to be applied for any assessment year before 1st april, 1972. 9 .....

Commissioner of Income-tax Vs. Krebs and Co.

Court : Madhya Pradesh

Reported in : [1998]229ITR615(MP)

..... that the said fee should be taxed at 50 per cent, in view of clause ii(i)(b) of paragraph e of part i of the first schedule to the finance act, 1980 (no. 2 of 1980). aggrieved by this order, the assessee as well as the department both approached the tribunal. the stand taken by the assessee was that the ..... been paid for technical services were not subject to tax by virtue of this proviso, which was inserted by the amendment by finance (no. 2) act of 1977 with effect from april 1, 1977. 12. an analysis of the provisions of section 9(1)(vi) and (vii) clearly shows that what is not made taxable is only the fees paid for technical services ..... zurich (for short 'krebs')is a foreign company and national newsprint and paper mills limited (for short 'nepa mills') is its agent within the meaning of section 163 of the income-tax act, 1961 (for short the 'act'). an agreement dated may 5, 1975, was entered into between the assessee, krebs, on the one hand, and nepa mills, on the other, for supplying .....