Court : Guwahati
..... [1978] 41 stc 394, the supreme court while considering whether atukulu (parched rice) and muramaralu (puffed rice) are 'rice' within the meaning of entry 66(b) of the andhra pradesh general sales tax act, 1957, gave a broad enough interpretation of the term 'rice' in accordance with the common sense rule of interpretation and held that the term 'rice' as ordinarily understood is wide enough to include both parched ..... ' taxable at the rate of 8 paise in a rupee without considering the fact that cereals and pulses in all its forms are exempted from payment of sales tax vide entries 6 and 48 of schedule i of 'the act 1993', the superintendent of taxes failed to appreciate that the entries are very wide to cover the cereals and pulses in all its forms and the said items namely, seeds can be said to be one of the ..... in ghasi ram hari ram [1972] 30 stc 88, the delhi high court construing entry 1 of the second schedule to the bengal finance (sales tax) act, 1941, as extended to delhi, which exempted from taxes all cereals including all forms of rice (except when sold in sealed containers), held that the expression ' ..... seed industry for production and sale is regulated under the seeds act, 1966 and rules and the seeds control order, 1983. ..... )1scc391 , to specify whether wheat is different from 'wheat seed' before it is chemically treated and converted into certified seed after undergoing multiple processes in seed industries regulated under the seeds act, 1996, rules and seeds control order, 1983. .....
Tag this Judgment!Court : Guwahati
..... clause c of the guidelines, dated 29.1.2003, aforementioned reads as follows -these guidelines will cover cases on which the banks have initiated action under the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002 and also cases pending before courts/drts/bifr, subject to consent decree being obtained from the courts/drts/bifr. 9. ..... the custodian : [1997]3scr51 , the ambit and scope of section 36 read with section 46 of banking regulation act, 1949, the apex court made it clear that the directives issued by the reserve bank of india are of binding nature, the banks must follow them and if there is violation or breach of these directives, the bank ..... thus, where a bank initiates an action under the said act, the guidelines would get attracted and the bank concerned has to proceed with the case keeping in view the said guidelines. ..... finance ltd. ..... finance ltd. ..... finance ltd. v. ..... 1, which is a limited company registered under the companies act with the petitioner no. ..... the first part applies to those cases, wherein banks have initiated actions under the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002. .....
Tag this Judgment!Court : Guwahati
..... the above contention, we may refer to the scheme of the indian it act, 1922, prior to: its amendment by the finance act, 1956. ..... the finance act, 1992, introduced wide changes in respect of assessment of income of the ..... the karta; the finding in this case is that the promotion of the company and the taking over of the concern and the financing of it were all done with the help of the joint family funds and the said b.k. ..... the case on hand cannot be treated as one of a sub-partnership, though in view of section 29(1) of the indian partnership act, the trust as an assignee, becomes entitled to receive the assigned share in the profits from the firm not as a sub-partner because no sub-partnership came into existence but as an assignee of the share of income ..... if the benefit of section 10(2a) is denied in case of diversion, it would completely nullify the basic scheme of the act since the income of the partner once taxed in the hands of the partnership would be again exigible to tax in the hands ..... assessment of a share of income of a partnership in the hands of a partner has to be apportioned as per the provisions of the it act and, thereafter, the it authorities are required to determine whether it would be assessed in the hands of that partner or in the hands of the ..... once the sub-partnership becomes the real owner of the income for the purpose of assessment despite the provisions of the partnership act, it would be imperative to assume all those facts on which alone the fiction operates. .....
Tag this Judgment!Court : Guwahati
..... , section 43b of the income-tax act, 1961, as insertged by the finance act, 1983, with effect from april 1, 1984, which provides that certain liabilities can be deducted only on actual payment).'12. ..... this appeal has been filed by the revenue under section 260a of the income-tax act, 1961 against the order dated 20.2.2001 passed by the income-tax appellate tribunal, gauhati bench, guwahati in ita no. ..... regarding charging of additional tax under section 143(1a) of the act, the appellate authority held that there was no justification in charging the same as the income of the assessee was still at a loss after making the adjustment.6. ..... facts and in the circumstances of the case, the tribunal was justified and correct in law in holding that no additional tax is impossible when total taxable income is lost after adjustment made under section 143(1)(a) of the act, in spite of the amended provision of sub-section (1a) of section 143 of the act effective from 1.4.1980?regarding question no. ..... this is recognised in trade circles and there is nothing in the bonus act which prohibits such a practice. ..... the assessing officer also charged additional tax under section 143(1a) of the act on the assessee to the extent of rs. ..... the respondent herein is an assessee under the income-tax act, 1961, hereinafter called as the act. ..... the assessing officer added the said contingent liability to aseb to the book profits of the assessee for computation of income under section 115j(a) of the act. .....
Tag this Judgment!Court : Guwahati
..... assessment' is used in the proviso not as an equivalent of the tax calculated at the rate given in the finance act but the total amount which the assessee is required to pay. ..... there the notices which were issued for rectification of the mistakes under section 35 of the indian income-tax act, 1922, were challenged on the ground that the notices became barred by time and thus the notices issued by the respondent are without jurisdiction and ..... thereafter, in the year 1956, the income-tax officer started proceeding under section 35 of the act for rectifying the assessment and no notice was sent to either brother by the income-tax officer and ordered to ..... for the petitioner, relying on section 155 of the income-tax act, urged that in this case notice is mandatory. ..... in the assessment year 1992-93 by order dated march 31, 1995, passed under section 143(3) of the income-tax act, 1961 (for short 'the act' hereinafter), by inadvertent mistake. ..... under section 35(1) of the act, a provision which admittedly applies to the present proceedings, it was incumbent upon the income-tax officer before he made any rectification to issue notice to the assessee communicating his intention to rectify the provisional ..... that by that order, the earlier assessment completed under section 143(3) of the income-tax act was rectified. ..... has been filed challenging the order dated march 13, 1995, passed by the assistant commissioner of income-tax, circle ii(1), guwahati, under section 155 of the income-tax act, 1961. .....
Tag this Judgment!Court : Guwahati
..... for the machinery for collection and recovery of the tax, once the legislature has, in clear terms, indicated that the income of the firm can be taxed in accordance with the finance act of 1956 as also the income in the hands of the partners, the distinction a charging and a machinery section is of no consequence. ..... made from winnings from sikkim lotteries on account of agent's/seller's commission and/or payment of tax called income-tax, would not debar the assessment of that income as per provisions of the income tax act, 1961.in the instant case, as has been pointed out above explanation 2 to section 5, which provides safeguard against double taxation does not apply for the obvious reason that the income in question ..... in selected order of itat p.271), that the income tax deduction made from winnings from sikkim lotteries would debar the assessment of that income as per provisions of the income tax act and that such assessment would not suffer from double taxation on the ground of income-tax having been charged by the sikkim income-tax authorities. ..... under clause (n) of article 371f of the constitution, the president vide notification dated november the 7, 1988 extended the income tax act, 1961 to the state of sikkim and later, the central government issued notification dated 23.2.1989 appointing april 1, 1989 as the date on which the income tax act came into force in the state of sikkim in relation to the previous year relevant to the assessment year commencing on 1.4.1989. .....
Tag this Judgment!Court : Guwahati
..... the machinery for collection and recovery of the tax, once the legislature has, in clear terms, indicated that the income of the firm can be taxed in accordance with the finance act of 1956 as also the income in the hands of the partners, the distinction a charging and a machinery section is of no consequence. ..... in selected order of itat p.271), that the income tax deduction made from winnings from sikkim lotteries would debar the assessment of that income as per provisions of the incometax act and that such assessment would not suffer from double taxation on the ground of income-tax having been charged by the sikkim income-tax authorities. ..... clause (n) of article 371f of the constitution, the president vide notification dated november the 7, 1988 extended the income tax act, 1961 to the state of sikkim and later, the central government issued notification dated 23.2.1989 appointing april 1, 1989 as the date on which the income tax act came into force in the state of sikkim in relation to the previous year relevant to the assessment year commencing on 1.4.1989 ..... jain, c.j.at the instance of the assessee ghisalal agarwala under section 256(1) of the income tax act, the following questions of law has been referred by the tribunal by its order dated 2-12-1996 ..... we have gone through the relevant provisions of the income tax act and the counsel for the revenue could not point out to any provision wherein a specific provision has been made by the legislature for including such an income .....
Tag this Judgment!Court : Guwahati
..... provision after its amendment and regularisation by section 3 of the finance act, 1958, assumed the form of section 4(3)(xxi) which is extracted ..... earlier decisions as well as the judicially evolved principles bearing on the relevant aspect of statutory interpretation, i am of the considered view that a person to be qualified for the exemption contemplated in the above provision of the act has to be essentially a member of a scheduled tribe notified under the scheduled tribes order to be so for the area(s), must be a permanent resident thereof and his income has to accrue from any source located therein. ..... tad/r/35/50/109 dated the february 23, 1951, issued by the governor of assam under the proviso to subparagraph (3) of the said paragraph 20 as it stood immediately before the commencement of the north-eastern areas (reorganisation) act 1971 (81 of 1971) or in the ladakh region of the state of jammu and kashmir, any income which accrues or arises to him,(a) from any source in the areas or states aforesaid, or(b) way of ..... has argued that as the employees whose case is espoused in the instant proceedings are admittedly members of the schedule tribes, residing in the areas as envisaged in section 10(26) of the act, they are apparently entitled to the exemption thereunder and therefore, the impugned decision to the contrary as manifested in the related communications/notifications is per se, illegal, unconstitutional, null and ..... the first time by the finance act, 1955, in the said act. .....
Tag this Judgment!Court : Guwahati
..... prior to the amendment of this clause by the finance act of 1968, allowance from house property income was admissible for an annual charge on house property without any exception even in cases where the charge was created by the assessee himself voluntarily in favour of another ..... the income-tax officer disallowed the deduction under section 24(1)(iv) of the act on the ground that the annual charge was created voluntarily by the act of the parties with a view to reduce the tax liability through artificial and sham ..... -section (1) of section 171 of the act is a deeming provision to the effect that a hindu family hitherto assessed as undivided, shall be deemed to continue to be a hindu undivided family for the purpose of the act except where and in so far as a finding of partition has been recorded under section 171 of the act--the partition may be total or partial. ..... the allowance enjoined in clause (iv) of sub-section (1) of section 24 of the act is admissible on fulfilment of the following conditions : (a) the property is subject to an annual charge on the house property that is providing income ; (b) the said charge is not created by the assessee voluntarily ; and (c) it is not a capital charge. ..... this reference under section 256(2) of the income-tax act, 1961, is made at the instance of the revenue seeking for the opinion of the court on the following questions of law : '(1) whether, on the facts and in the circumstances of the case and in view of the commissioner of income-tax .....
Tag this Judgment!Court : Guwahati
Reported in : (2007)211CTR(Gau)133,[2007]290ITR481(Gauhati)
..... provision after its amendment and regularisation by section 3 of the finance act, 1958, assumed the form of section 4(3)(xxi) which is extracted ..... earlier decisions as well as the judicially evolved principles bearing on the relevant aspect of statutory interpretation, i am of the considered view that a person to be qualified for the exemption contemplated in the above provision of the act has to be essentially a member of a scheduled tribe notified under the scheduled tribes order to be so for the area(s), must be a permanent resident thereof and his income has to accrue from any source located therein. ..... tad/r/35/50/109 dated the february 23, 1951, issued by the governor of assam under the proviso to subparagraph (3) of the said paragraph 20 as it stood immediately before the commencement of the north-eastern areas (reorganisation) act 1971 (81 of 1971) or in the ladakh region of the state of jammu and kashmir, any income which accrues or arises to him,(a) from any source in the areas or states aforesaid, or(b) way of ..... has argued that as the employees whose case is espoused in the instant proceedings are admittedly members of the schedule tribes, residing in the areas as envisaged in section 10(26) of the act, they are apparently entitled to the exemption thereunder and therefore, the impugned decision to the contrary as manifested in the related communications/notifications is per se, illegal, unconstitutional, null and ..... the first time by the finance act, 1955, in the said act. .....
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