Court : Punjab and Haryana
Reported in : (1997)140CTR(P& H)583; [1997]225ITR675(P& H)
..... all the facts relating to the same and material to the computation of his total income have been disclosed by him.' 10. clause (c) of section 271(1) had been earlier amended by the finance act, 1964, with effect from april 1, 1964, whereby the word 'deliberately'was omitted. earlier when the word 'deliberately' existed there, the second ..... distinctly and these are with respect to two separate offences. the two charges can subsist in many cases. the effect of the explanation, as introduced by the finance act, 1964, and the deletion of the word 'deliberately', was that the onus had been shifted from the department to the assessee. the explanation amounts to a ..... april 1, 1964, mere furnishing of inaccurate particulars attracted the levy of penalty. explanation 1 had also been inserted earlier by the finance act, 1964, but was substituted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976. the provision as it existed in the relevant assessment year 1976-77 can be divided .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1992)105CTR(P& H)378; [1993]199ITR490(P& H)
..... by the sale of the land, that is, by conversion of the land into cash. the resultant income is not agricultural income. the explanation inserted in section 2(1a) by the finance act, 1989, with effect from april 1, 1970, makes the position clear when it declares that revenue derived from land shall not include and shall be deemed ..... of land included in items (a) and (b) of section 2(14)(iii) of the act. in order to qualify for such exemption, it is not enough that the land was once agricultural land. it must be agricultural land even at the time of sale/transfer. by the finance act, 1970, with effect from the assessment year 1970-71, ..... district judge enhanced the compensation. the claimants/landholders were awarded solatium and also interest calculated in terms of sections 23(1a) and 28a, as inserted by amending act no. 68 of 1984. the award made by the district judge was challenged in appeal before this court and the compensation and interest payable to the claimants have been finally .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 2008[9]STR229; [2007]14STT92
..... by the assessee-respondent do not fall in any of the category specified in the definition of 'business auxiliary service' as per subjection 19 of section 65 of the finance act, 1994 (for brevity, 'the finance act).2. the argument raised by the revenue is that the activity carried out by the assessee-respondent amounted to promotion or marketing of service provided ..... putting across or dropping of the name of the principal company, it would become part of the definition of 'business auxiliary service' within the meaning of section 65(19)(ii) of the act. the view taken by the tribunal is unassailable and deserves to be upheld.4. in view of above, instant appeal is dismissed being squarely covered by ..... orderm.m. kumar, j.1.this appeal filed by the revenue under section 35g of the central excise act, 1944 (for brevity, 'the act'), challenges order dated 30-8-2006, passed by the customs, excise and service tax appellate tribunal, new delhi (for brevity, 'the tribunal') (annexure p-3), holding that .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2002)173CTR(P& H)97
..... no order seeking to justify this levy under explanation 1 to section 234b as substituted by the finance act, 2001. in this view of the matter, it is not necessary for us to go into the validity of the retrospective operation of the said ..... biscuits ltd. v. cit : [2000]243itr519(kar) >. he further submitted that the levy of such interest can only be justified under expianation 1 to section 234b as substituted by the finance act, 2001, which had been made applicable retrospectively with effect from 1-4-1989. he pleaded that since the provision for charge of interest has to be construed ..... we are of the view that the challenge to the vires of the retrospective operation of expianation1 to section 234b of the act was substituted by the finance act, 2001, is of academic interest only. in the case in hand, the interest under sections 234a, 234b and 234c had been levied on 13-9-1999 under the unamended provisions. there is .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1970]77ITR405(P& H)
..... reference under sub-section (1) of section 66 of the income-tax act, 1922, the questions referred are '(1) whether, on the facts and in the circumstances of the case, the assessee's profits and gains earned in the calendar year 1955 were assessable to tax for the assessment year 1956-57 at the rates in force according to indian finance act, 1956, ..... the assessee-company's profits and gains earned in the calendar year of 1955 were assessable to tax for the assessment year 1956-57 at the rates as in the finance act of 1956 and not in accordance with clause 23 of the agreement of april 1, 1938, upon whichthe assessee-company based its claim. the answer to the question ..... of its business, was in the nature of capital expenditure and it was for the completion of that that the expenditure, now claimed as revenue expenditure under section 10(2)(xv) of the act, was incurred by the assessee-company and it was thus a part and parcel of the expenditure incurred by it for the expansion of its business. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2010)230CTR(P& H)554,[2010]189TAXMAN308(Punj& Har)
..... exemption from wealth-tax on the building under construction as per clause (v) of sub-section (3) of section 40 of the finance act, 1983. on the peculiar facts and circumstances of that case, while interpreting the provisions of section 40(3) of the finance act, 1983, it was ruled that 'under such circumstances, such building could not have fallen ..... as well, because the word 'any building' cannot possibly be read in isolation and it has harmoniously to be construed with the remaining portion of section 2(ea) of the act, i.e., whether the building used for residential or commercial purposes or for the purpose of maintaining a guest house, because incomplete building, as ..... case, the core question, that arises for determination, is whether the incomplete building of the assessee falls within the ambit of assets as defined in section 2(ea) of the act or not, which postulates that 'assets' in relation to the assessment year commencing on 1st day of april, 1993, or any subsequent assessment year .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1997]223ITR282(P& H); (1997)115PLR129
..... professionals rendering services to the individuals or the parties are covered for the purposes of deduction of income-tax at source within the meaning of section 194c of the act.3. section 194c was inserted in the act by the finance act of 1972, with effect from april 1, 1972. it required a person responsible for paying any sum to any resident (referred to as 'the ..... the deduction of tax at source on the payment of fees for professional services also inasmuch as this was not covered under section 194g of the act.12. a new section 194j has now been enacted. this new provision inserted by the finance act, 1995, with effect from july 1, 1995, requires a person responsible for paying any sum by way of fees for professional .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : AIR1995P& H108; (1995)110PLR541
..... clearly imposed on him under rule 11.5(2). he invoked the provisions of section 35 of the act which authorises him to take suitable action in case he is of the opinion that there is an emergency. since the finance sub-committee was not in existence and the budgetproposals were necessarily required to be ..... and consequently, the injunction granted by the courts below should not be vacated.5. the municipal account code is a compilation of rules 'published under section 240 of the punjab municipal act, 1911 vide punjab government notification no. 11961 dated the 4th april 1930. . . . . .'. chapter ii of this code relates to the preparation and ..... time. finally, on january 30, 1993, the term of the finance sub-committee expired. the committee did not constitute a fresh finance sub-committee. faced with this situation, the president on march 9, 1993 invoked his emergency powers under section 35 of the haryana municipal act, 1973 and submitted the budget proposals to the committee. on march .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1978]48CompCas327(P& H); [1979(38)FLR46]
..... of the corporation shall be vested in the development bank. the corporation cannot be dissolved except by the government......66. the industrial finance corporation act states that whoever in any bill of lading, warehouse receipt or other instrument given to the corporation whereby security is given to the ..... insurance corporation act as well as the industrial finance corporation act confer power on the corporation to make regulations as to the method of recruitment of employees and the terms and conditions of service of such employees or agents. the oil and natural gas commission act under section 12 states that ..... the functions and terms and conditions of service of employees shall be such as may be provided by regulations under the act .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2002)176CTR(P& H)628; [2002]255ITR561(P& H)
..... which is taken into account in computing such total income.' 3. by the finance act, 2001, the above provision stands substituted by the following provision with effect from april 1, 1989 : 'explanation 1. --in this section, 'assessed tax' means the tax on the total income determined under sub-section (1) of section 143 or on regular assessment as reduced by the amount of tax deducted ..... , j. 1. is the provision of section 2mb, explanation 1, as amended by the finance act, 2001, ultra vires this is the short question that arises for consideration in this case. 2. the original provision was in the following terms : 'explanation i--in this section, 'assessed tax' means,-- (a) for the purposes of computing the interest payable under section 140a, the tax on the total .....
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