Court : Rajasthan
Reported in : (1984)42CTR(Raj)218; [1984]149ITR470(Raj)
..... form part of the corpus of the trust or institution). with this amendment in the definition of the term 'income', the finance act of 1972 also amended section 12 of the 1961 act. thus by the 1961 act, the income of a charitable trust was made to stand on a footing different from the earlier provisions in that context and ..... then the position was again changed by the finance act of 1972.19. we would now discuss the implications of section 12(2) of the 1961 act and see whether the same has been rightly applied in the case of the assessee-trust with regard to the ..... that the legislature apprehended a situation that; a charitable trust having accumulated income in excess of that permitted by section 11 might transfer that excess amount to another charitable trust with the intention to evade tax. by the finance act of 1972, the definition of the term 'income' was also made inclusive of voluntary contributions received by a .....
Tag this Judgment!Court : Rajasthan
Reported in : 1981WLN346
..... question was whether the company could be said to be a company, which is mainly engaged in processing of goods within the ambit of explanation of section 6 (d) of the finance act, 1958. it was thus held:explanation:fox the purposes of this clause, a company shall be deemed to be mainly engaged in the business of generation ..... storage. processing of goods need not lead to manufacture of a new article. the allahabad high court held that they came within the definition of section 2(7)(d)of the finance act of 1966 and 1967 and as such the assessee company was an industrial company. the expression used there was similar to the expression with which we ..... present statute which has used the expression 'processing' in contradiction or differently from the expression 'manufacture' the assessee company was engaged in the act of processing the goods in terms of the finance act at the relevant time. this view which we have taken finds support in the bench decision of the allahabad high court in the case .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1998Raj293; 1999(1)WLC151; 1998(1)WLN631
..... of the market value of the property' was substituted. thus, the article after the finance act, 1997, reads : 'the same duty as on a conveyance (no. 23) for a consideration equal to the amount of the market value of the property.' as per section 2(10), the document in question, the supplementary lease deed dated 25-3-88 ..... ofassignment and not by way of under-leasethe same duty as on aconveyance (no. 23) for a consideration equal to the amount of theconsideration for the transfer.by rajasthan finance act, 1997, in column no. 2 of art. 63, for the expression 'the same duty as on a conveyance (no. 23) for a consideration equal to the ..... , building structure, machinery, the petitioner moved a revision petition' before the board of revenue (chief controlling revenue authority for the state of rajasthan) under section 56 of the stamp act, which was admitted and further proceedings were stayed. the revision petition was dismissed on the ground that the revision petition is filed only against the show .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)77TTJ(NULL)640
..... now we may pause here for a moment to clarify the legal position on this point as it emanates from the statutory provisions after the amendment effected vide finance act, 2002 in section 158b w.r.e.f. 1-7-1995. on analyzing the statutory provisions, the relevant legal position, in respect of sustenance/deletion of addition, as undisclosed ..... evidence' did not exist in the aforesaid statutory provision, and so any information could also form the basis for addition as undisclosed income. but now, as section 158bb(1) stands as amended vide finance act, 2002, w.r.e.f. 1-7-1995, an information, available with the assessing officer, to form basis for addition in a block assessment, ..... the said addition, in the hands of present assessee, cd, is not tenable on the legal score as well. we may note that the provision of section 158bb(1) stands amended vide finance act, 2002 w.r.e.f. 1-7-1995, and the relevant amended provision stands as under:'158bb-(1) the undisclosed income of the block period shall .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR2008Raj28
..... of share capital by way of amendment in articles of association shall be payable. article 10-a was inserted in schedule-ii of the act of 1952 by rajasthan finance act, 1997 w. e. f. 1st april 1997. the additional collector (stamps) has passed the impugned order dated 27-7-1999 ..... half (0.5) per cent of a company-] of the authorizedexemption : share capitalarticles of any association not formed for profit and registered under section 26 of the companies act, 1956------------------------------------------------------------[10-a. amendment in half (0.5) per centarticles of association of of the increase in a company.-] authorized share(i) ..... of the company or rupees five hundred,whichever is higher.exemptions :memorandum of any association not formed for profit and registered under section 26 of the companies act, 1956------------------------------------------------------------11. while article 10 refers to articles of association of a company, article 10-a covers an amendment in articles of .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1977Raj80; 1976(9)WLN422
..... receipts. in dealing with the meaning of the word 'sale' in the finance act for the purpose of imposition of excess profits tax, the court held that sale in the finance act should not be construed in the light of the provisions of the sale of goods act but must be understood in the commercial and business sense. there, there was ..... profit made as a result of compulsory acquisition of an electrical undertaking should be regarded as profits or gains within the meaning of sub-section (2) (vii) of section 107 of the income-tax act, which provides for computation of such profits or gains 'after making allowance in respect of any machinery or plant which has been sold', ..... on compulsory acquisition of land was held to be covered by the words 'purchase money received in respect of a sale or other disposition of the land' in section 15 of the native land trust ordinance, 1945.6. in reply, shri sishodia, learned additional government advocate, contends that the taking of property in exercise of the .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)199CTR(Raj)305; [2006]281ITR177(Raj)
..... provisions envisage any directions to the companies to provide for any matters in the books in a particular manner. it is significant that sub-section (1a) of section 115j was inserted w.e.f. 1st april, 1989 vide finance act, 1988 to eliminate the possible inquiry by the ao in the matter of computation of minimum tax on profits as disclosed by the company ..... profits, which has been placed before agm for the purpose of distributing its dividends. the object of insertion of section 115j initially w.e.f. 1st april, 1988 by it act, 1961 and later on by introducing section 115ja w.e.f. 1st april, 1997 vide finance act, 1996, was to secure minimum tax on the basis of admitted profits earned by the company for the .....
Tag this Judgment!Court : Rajasthan
Reported in : [1994]210ITR821(Raj)
..... rs. 4,800 for the year 1976-77, rs. 4,685 for the year 1977-78 and rs. 4,568 for the year 1978-79 on the said amount under section 32 of the income-tax act.7. regarding question no. 2, it was found in the assessment year 1976-77 that the freight and packing charges of rs. ..... not being expenditure incurred in india in connection therewith or expenditure (wherever incurred) on the carriage of such goods to their destination.9. the above clause was amended by the finance act, 1970, with retrospective effect from april 1, 1968, for (iii) distribution, supply or provision outside india of such goods, services or facilities outside india or on the ..... restricted to the expenditure incurred wholly and exclusively on the distribution, supply or provision outside india of goods, services or facilities.11. explanation 2 was also inserted by the finance act, 1973, which was also from april 1, 1968, and according to which it was provided as under:'explanation 2.--for the purposes of sub-clause (iii) and .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)172CTR(Raj)239
..... referred the aforesaid question as a question for law of the opinion of this court.3. we have heard learned counsel for the parties.section 43b inserted by finance act, 1983, with effect from 1-4-1984, reads as under :'section 43b. certain deductions to be only on actual payment.notwithstanding anything contained in any other provision of this ..... ) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him.'later on, operation of clause (a) was widened by substituting words tax, duty, cess or fee by whatever name called, for words tax or duty vide finance act, 1988 (26 of 1988), with effect from ..... act, a deduction otherwise allowable under this act in respect of :(a) any sum payable by the assessee by way of tax or duty under any law .....
Tag this Judgment!Court : Rajasthan
Reported in : [1962]46ITR351(Raj)
..... 'that year' relate to the year for which a return of the assessees income has to be forwarded under section 22 of the indian income-tax act, called the 'accounting year', or the year ..... . the words that year in the section which are underlined have reference to the assessment year. the year in which this income is taxed is the year of assessment and the rates at which this tax is levied ar prescribed by the annual finance act for that year. do the words ..... for either by general or special notice. assessment and computation of tax are dependent on the annual finance act which prescribes the rates. the question of 'too low' a rate does not arise unless the rate is laid down by the annual ..... finance act. it is the financial year or the year of assessment with reference to which escapment of income or applicability of too .....
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