Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Page 74 of about 48,232 results (0.583 seconds)

Hindustan Petroleum Corporation Ltd. Vs. Commissioner of Income-tax, B ...

Court : Mumbai

Reported in : (1982)30CTR(Bom)254; [1983]143ITR318(Bom); [1982]11TAXMAN79(Bom)

..... position before the tribunal that the amounts of profits and gains derived from exports by the assessee, with reference to which a deduction of tax was admissible under the said finance act, had to be calculated in accordance with the provisions of sub-r. (3) of r. 2 of the said rules, as such profits and gains could not be ..... of the income-tax (determination of export profits) rules, 1962 (referred to hereinafter as 'the said rules') :5. the relevant portion of s. 2(5) of the said finance act reads as follows :'in respect of any assessment for the assessment year commencing on the day of april 1, 1963, - (i) an assessee being an indian company or any other ..... referred to us :'whether, on the facts and in the circumstances of the case, in ascertaining the amount of 'qualifying income' for relief u/s. 2(5) of the finance act, 1963, read with rule 2(3) of the income-tax (determination of export profits) rules, 1962, the entire excise duty payable and paid by the assessee during the assessment .....

Radheshyam Tibrewall and Shree Ganeshdass Oil and Rice Mills Vs. Commi ...

Court : Guwahati

..... the first item which was, however, included in the petition of smt. swati devi. the tribunal held that neither section 68 of the finance act, 1965, nor section 24 of the finance (no. 2) act, 1965, required the commissioner to make any enquiry whatsoever, touching or concerning the sources of the income disclosed or any ..... to the question posed depends entirely on the interpretation of the provisions contained in the act and in particular section 24 of the finance act. section 24 deals with ' voluntary disclosure of income' and consists of 16 sub-sections. sub-section (1) permitted a person to make a declarantion in respect of amounts representing income ..... examine the correctness of the explanation of the assessee whether the production of the declaration and certificate under section 24(15) of the finance act that the declarant voluntarily disclosed the amounts under the act precludes the i.t. authorities from investigating the correctness of the claim or the explanation of the assessee .....

A. Loganathan and Others Vs. A. Loganathan and Others

Court : Chennai

Reported in : [1995]214ITR202(Mad)

..... respectful agreement with the views expressed by the above division bench judgments, i need not once again repeat the same while upholding the constitutional validity of section 2(2) of the finance act, 1977. applying the ratios laid down in the above two division bench judgments, i hold that the provisions impugned in these writ petitions is well ..... by me to indicate the emphasis) 14. it is submitted that total income has been defined in the charging section of the income-tax act, 1961, and the same meaning has been given to the terms in the finance act. agricultural income has not been contemplated as an item to be included in the total income in the definition of ..... venkataswami, j.1. the common prayer in all these writ petitions is for the issue of a writ of declaration, declaring that section 2(2) of the finance act, 1977, is ultra vires and illegal. 2. though different assessees have filed these petitions, the respondents are common and arguments addressed by both sides were also .....

Commissioner of Income-tax Vs. Boots Company (i.) Limited

Court : Mumbai

Reported in : (1994)120CTR(Bom)85; [1995]214ITR175(Bom)

..... to the amount of income-tax computed in accordance with the provisions of paragraph e of part i of the first schedule to the finance act, 1976.9. clause (8) of section 2 of the finance act, 1976, however, relieves a company from the levy of surcharge if it makes a deposit with the idbi, of a sum equal ..... surcharge on income-tax was levied on the assessee in view of the fact that the assessee availed of the option given to it under sub-section (8) of section 2 of the finance act, 1976, and deposited the amount with the industrial development bank of india ('idbi') as contemplated therein in lieu of surcharge. the assessee claimed deduction ..... deal with the other submissions of learned counsel for the assessee based onthe principles of reasonable and beneficial interpretation. it was urged before us that :(i) section 2(8) of the finance act, 1976, creates a legal fiction which should be carried to its logical conclusion ; (ii) the interpretation placed by the assessee is reasonable and in .....

Gda Security Private Limited and anr. Vs. the Union of India Represent ...

Court : Chennai

Reported in : 2003(89)ECC381; 2002(140)ELT332(Mad); [2003]264ITR396(Mad); 2006[2]STR542

..... market research agencies, chartered accountants, cost accountants, etc. were covered.4. the petitioners have then quoted the relevant provisions of the act and they are as under:section 65(40) of the finance act provides the definition of 'security agency' and it reads as under: 'security agency' means any commercial concern engaged in the business ..... fact or activity including services of providing security personnel;'5. the petitioners have also referred to the provisions of section 68(1) and rule 6 of the service tax rules as amended by the finance act, 1998 and the service tax amendment rules, 1998 respectively only to show the manner in which the tax ..... have been filed by various 'security and detective agencies', challenging the provisions of sections 66 and 67 of the finance act, 1994. in fact, from the prayer it appears that the challenge is to the said act generally and the abovementioned sections particularly.2. petitioners case is that they are the security and detective agencies, .....

Commissioner of Income-tax Vs. London Star Diamond Co. (i) Ltd.

Court : Mumbai

Reported in : [1995]213ITR517(Bom)

..... of the clear opinion that the assessee is engaged in the business of processing of goods within the meaning of sub-clause (c) of clause (8) of section 2 of the finance act, 1975. 11. in the instant case, we are, however, not in a position to ascertain and hold whether the assessee fulfils the requirement of the ..... is conspicuous by its absence in the above definition. as against this, the expression used in the definition of 'industrial company' in clause (c) of section 2(8) of the finance act, 1975, is 'engaged in the manufacture or processing of goods'. the use of different expressions by the legislature in the definition of the same expression for different ..... facts and in the circumstances of the case, the tribunal was right in law in holding that the assessee was an industrial company within the meaning of section 2(8) of the finance act, 1975 ?' 2. this reference pertains to the assessment year 1975-76. the assessee is a limited company which deals in diamonds. its main activities .....

Gwalior Rayon Silk Manufacturing (Weaving) Co. Ltd. Vs. Income-tax Off ...

Court : Madhya Pradesh

Reported in : AIR1969MP100; [1969]73ITR95(MP); 1969MPLJ61

..... for- payment of the amount specified in any notice of demand ended before 1st april 1965, and that there was nothing in section 220(2) or in the finance act, 1965, to indicate that the amendment made by section 53 of the finance act, 1965, in section 220(2) had such a retrospective effect. thus, according to the learned counsel, an assessee, to whom a notice under ..... from the petitioner interest at the rate of six per cent the department was not giving a greater retrospective effect to the amendment than that expressly stated in section 1 (2) of the finance act, 1965. to support his contention, learned counsel relied on venkatachalam v. bombay dyeing and mfg. co. ltd. : [1958]34itr143(sc) .8. in our judgment the plea of the .....

Saruplchand and Hukumchand Vs. Union of India and Another.

Court : Madhya Pradesh

Reported in : [1953]23ITR382(MP)

..... chargeability. the chargeability is left to arise by some other law, and that law is the previous state law referred to in section 13 of the finance act, 1950.'as to section 13 of the finance act, 1950, it was observed in the rajasthan high court decision that it kept alive the state law not only for the purpose of ..... the general words imposing the tax by reference to extraneous considerations such as the report of the indian states finance inquiry committee, or possible intention of the legislature gathered from other acts, and that section section 13 of the finance act, 1950, is perfectly intelligible if it is read as keeping alive the state law for the purposes of levy ..... 31st march, 1950, would be chargeable under the state law and not under the indian income-tax act. i am unable to agree with this reading of section 13 of the finance act, 1950. to my mind, section 13 of the finance act preserves the operation of the state law imposing income-tax, super-tax or tax on profits of business .....

Sukhlall Chandanmull Vs. A.C. JaIn and anr.

Court : Kolkata

Reported in : AIR1958Cal669

..... tax cannot equally reasonably be re-classified or subdivided for the purposes of super tax.17. i, therefore, hold that the finance act, 1951 as applicable to the finance act, 1954 under section 2 of the finance act, 1954 is not ultra vires the constitution and does not infringe the right of equality before the law or the equal ..... the basis of the assessment made, the income-tax officer applied the different rates of income-tax, surcharge and super-tax prescribed by the finance act of 1951 as applicable to the finance act, 1954 for the said assessment year. dr. pal appearing for the appellant has challenged the validity of progressive and graduated system of tax ..... protection of the laws. i hold further that the finance act is not ultra vires the constitution and the rates imposed thereunder are neither .....

Commissioner of Wealth-tax Vs. Rama Shankar Bajoria

Court : Kolkata

Reported in : [1992]194ITR132(Cal)

..... voluntary disclosure under section 68 of the finance act, 1965, on may 25, 1965. the amount disclosed was rs. 2 lakhs with interest accrued thereon ..... income-tax and wealth-tax liabilities constituted a debt under section 2(m) of the wealth-tax act, 1957.4. a similar question has been considered by a division bench of this court under the voluntary disclosure scheme introduced by section 68 of the finance act, 1965, in the case of cwt v. bansidhar poddar : [1978]112itr957(cal) . in that case, the assessee had made a .....