Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Page 88 of about 48,232 results (0.362 seconds)

Gvk Inds. Ltd and Anr Vs. The Income Tax officer and Anr

Court : Supreme Court of India

..... be income of the recipient chargeable under the head "salaries".].21. explanation to the section 9(2) was substituted by the finance act 2010 with retrospective effect from 1.6.1976. prior to the said substitution, another explanation had been inserted by the finance act, 2007 with retrospective effect from 1.6.1976. the said explanations read as ..... or business connection in india; or (ii) the non-resident has rendered services in india.]. as amended by finance act, 2007 explanation.-for the removal of doubts, it is hereby declared that for the purposes of this section, where income is deemed to accrue or arise in india under clauses (v), (vi) and (vii) of ..... under: "as amended by finance act, 2010 explanation.- for the removal of doubts, it is hereby declared that for the purposes of this section, income of a non-resident shall be deemed to .....

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Reported in : (1997)224ITR473AAR

..... in the same status as the beneficiary, will be assessable as a "foreign company" attracting the provisions of section 112(c) or section 115a read with section 2(3) of the relevant finance act (set out later). section 112 and section 115a will then apply as if the investor company were the direct recipient of the cg from the investee and ..... effective curb on the proliferation of such trusts, and to reduce the scope for tax avoidance through such means, the finance act, 1970, has replaced section 164 of the income-tax act by a new section. under section 164 as so replaced, a 'representative assessee', who receives income for the benefit of more than one person whose shares ..... 1970 (see [1971] 79 itr (st.) 33)) as under (at page 46) : " private discretionary trusts.--under the provisions of section 164 of the income-tax act before the amendment made by the finance act, 1970, income of a trust in which the shares of the beneficiaries are indeterminate or unknown, is chargeable to tax as a single .....

infotech Enterprises Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2003)85ITD325(Hyd.)

..... thing. this provision was introduced by the finance act, 1988. 3. finance act, 1993 extended the tax holiday under section 10a to industrial units in approved electronic hardware technology parks (ehtps) or software technology parks (stps). this provision is applicable to ..... or produce any article or thing and are set up in notified free trade zones (ftzs). this provision was introduced by the finance act, 1981. 2. similarly, section 10b of the it act allows a five-year tax holiday to approved 100 per cent export oriented undertakings (eous), which manufacture or produce any article or ..... the assessee that an stp unit being 100 per cent eou is eligible for exemption under section 10b of the act is accepted, the amendment brought about by the finance act, 1993 extending the benefit under section 10a of the act to the stps from 1st april, 1994, becomes redundant or superfluous. if a stp unit .....

Kiran Corpn. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)98ITD119(Ahd.)

..... by way of cash compensatory support became taxable retrospectively w.e.f. 1-4-1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. levy of additional tax bears all the characteristics of penalty. additional tax was levied as the assessee did ..... mentioned therein is chargeable to income-tax under the head 'profit and gains of business or profession'. clause (iii)(b) in section 28 was inserted by the finance act of 1990. finance bill which ultimately became the finance act received assent of the president of india on 31-5-1990. clause (iii)(b) was given retrospective operation w.e.f.1-4-1967 ..... of bad debts of rs. 1,30,815. insofar as this ground is concerned, we have already held that in view of explanation inserted below section 36(1)(vii) by the finance act, 2001 with effect from 1-4-1981, the claim of bad debt can be allowed only if the debt is written off by passing entries in .....

Eureka Forbes Ltd. Vs. State of Bihar and ors.

Court : Patna

..... and thereby the impugned orders on different grounds, as enumerated below : (i) audit report cannot constitute an information, as enumerated under section 19(1) of the bihar finance act, 1981 and on that basis, no proceeding for reassessment can be initiated ;(ii) there is no new material on the record to make ..... while rejecting the reply of the petitioner reassessed the petitioner for the aforesaid periods. the petitioner thereafter filed petition for revision under section 46(4) of the bihar finance act, 1981, which has also been rejected by the respondent-commissioner of commercial taxes, patna vide orders as contained in annexure 3 ..... doing business of selling vacuum cleaner. petitioner has challenged notices issued by the respondent-deputy commissioner of commercial taxes, jamshedpur, under section 19(1) read with section 17(2) of the bihar finance act, 1981 (annexure 1 series in respective writ petitions) ; orders of reassessment (annexure 2 series of respective writ petitions) and .....

Commissioner of Income-tax Vs. Harlal Mannulal

Court : Madhya Pradesh

Reported in : [1989]178ITR284(MP)

..... upholding the levy of penalty by the appellate assistant commissioner. it is thus clear that even in this case, reliance was not placed on the explanation added in section 271 by the finance act, 1964. it is, therefore, apparent that virtually, the tribunal, in its appellate order, placed reliance on the decision of the supreme court in cit v. ..... supreme court in the case of cit v. mussadilal ram bharose : [1987]165itr14(sc) . the supreme court has pointed out that the explanation added to section 271(1) by the finance act, 1964, permits a presumption to be raised, but the said presumption was a rebuttable one. in the instant case, in view of the facts already ..... and the inspecting assistant commissioner, vide his order dated february 3, 1978, imposed a sum of rs. 20,000 as penalty on the assessee on the finding that he was guilty of concealment of income as contemplated by section 271(1)(c) of the income-tax act, 1961 ('the act'). this order , however, was reversed by the tribunal. in .....

C. K. Babu Naidu Vs. Wealth-tax Officer, a Ward, Calicut, and Another ...

Court : Kerala

Reported in : [1978]112ITR341(Ker)

..... on the income declared by the assessee. the latter part is only a machinery provision and the earlier provisions provides what is envisaged by section 4 of the income-tax act, 1961, that the finance act, 1965, shall declare the rates applicable. neither of these things can alter the liability, a liability that arises and stems from the existence ..... to the net wealth of the assessees for each of the years what we have mentioned, the entirety of the income declared for that year under section 68 of the finance act, 1965. counsel for the assessee has repeated the argument that was advanced by him before the learned single judge that the procedure adopted is not ..... state, as we have already stated, that the contention was that out of the income attributable to each of the assessment years, the tax leviable under section 68 of the finance act, 1965, must be deducted for the purpose of arriving at the net wealth assessable to wealth-tax. the assessees, the appellants, had already been assessed .....

Mahendra Rambhai Patel Vs. Controller of Estate Duty, Gujarat State

Court : Gujarat

Reported in : AIR1965Guj9; [1965]55ITR1(Guj)

..... of trust property --- from one person to another. if there is, there would be passing of property within the meaning of section 1 of the u.k. finance act, 1894, and section 5 of our act, but not otherwise.(5) applying this test it is clear that on the death of manubhai, one half share of manubhai in ..... the income to which the interest extended. this decision, therefore, clearly shows that interest in possession within the meaning of section 5 (3) of the u.k. finance act, 1894, corresponding to section 23 of our act, means beneficial interest in possession of the property, that is beneficial possession or enjoyment of the property either to the extent ..... passes on the death' might have created some difficulty if interpretation but two generations of judicial decision have imparted to that expression as occurring in section 1 of the u.k. finance act, 1894, which imposed for the first time in england the duty called 'estate duty', exact shades of meaning that could not have been originally .....

Nilgiris Potato Growers Co-operative Marketing Society Ltd. Vs. Commis ...

Court : Chennai

Reported in : [1978]111ITR375(Mad)

..... iv)on the next rs. 15,000 of the residual income9%(v)on the balance of the residual income10%the rest of the provision need not be extracted. section 2(8) of the same finance act, 1963, provides :'(8) for the purposes of paragraphs a and c of part i of the first schedule, the expression `residual income' means the amount ..... to the full logical extent, viz., that there could be no two views possible in the relevant provisions of the finance act, 1963, so that the error in the calculation of tax in the original assessment was a patent one.section 81(1)(c) provides that income-tax shall not be payable by a co-operative society in respect of the ..... been made to set out how the calculation of tax made in the original assessment under section 143(3) was wrong and how the calculation made under section 154 is correct.'it, however, considered elaborately the various provisions of the income-tax act and the finance act, 1963, and came to the conclusion that there was a mistake in the calculation of .....

Commissioner of Income-tax Vs. Soundararaja Finance Ltd.

Court : Chennai

Reported in : [2006]283ITR559(Mad)

..... be noted that the first proviso to section 32 was omitted by the finance act, 1995 with effect from april 1, 1996. prior to the omission, the first proviso as inserted by the finance act, 1966 with effect from april 1, 1966 and amended by the finance act, 1983 with effect from april 1, ..... learned standing counsel for the revenue, who submitted that if the asset is used for less than 180 days, the third proviso to section 32(1) would operate. here the issue is related to the question that if the individual worth of the asset is less than rs ..... cent. ?2. the facts leading to the above question of law are as under :(i) the assessee is a hire-purchase and lease finance company. the assessment year is 1992-93 and the corresponding accounting year ended on march 31, 1992. the assessee-company filed its return of ..... p.p.s. janarthana raja, j.1. the present appeals are filed under section 260a of the income-tax act, 1961 by the revenue, in i. t. a. no. 1724/ mds/97, passed by the income-tax appellate .....