Court : Allahabad
Reported in : [2003]133TAXMAN482(All)
..... before the above amendment by finance act, 2001 clause (vi) was not there in section 17(2) of the act. ..... hence, the writ petition is liable to be dismissed and the provisions of section 17(2)(vi) of the income tax act as inserted by the finance act, 2001 as well as rule 3 of the income tax rules framed in pursuance of section 17(2)(vi) by the board are legal and valid. ..... in view of the introduction of sub-clause (vi) of clause (2) of section 17 of the act by means of the finance act, 2001, and prescription of the interest-free loan or loans at the concessional rate of interest by the employer to its employees having been treated as a 'fringe benefit' or 'amenity', it is not possible to take the view that the ..... the petitioner is also challenging the validity of section 17(2)(vi) of the income tax act, 1961 as inserted by the finance act, 2001 on the ground that it has delegated essential legislative powers and that it is violative of articles 19(1) and 246 of the constitution ..... hence before the amendment by the finance act, 2001 interest-free loans given by the employer to the employees for various purposes ..... before the amendment by the finance act, 2001 a perquisite was whatever was mentioned in the act itself i.e. ..... other words before the amendment by the finance act, 2001 the perquisites were not determined by delegated legislation by rules made under the act.5. ..... in view of the section 17(2)(vi) which has been introduced by the finance act, 2001, the earlier decision in the case of .....
Tag this Judgment!Court : Allahabad
Reported in : 2004(93)ECC164; 2004(178)ELT150(All)
..... noticees like the petitioners are also covered by the order dated 8.12.1998 notwithstanding the fact that the show cause notices has been adjudicated upon in relation to the co-noticees as well as the declarant under section 90(1) of the finance act, 1998.now the matter has been finally decided by the apex court in the case of union of india and ors. v. ..... on the date of making the declaration, then, no civil proceeding for imposition of fine or penalty shall be proceeded with against such other person and in such cases the settlement in favour of the declarant under sub-section (1) of section 90 shall be deemed to be full and final in respect of such other person also on whom a show cause notice was issued on the same matter covered under the declaration. ..... 312 under rule 9(2) of the central excise rules (hereinafter referred to as 'rules') read with proviso to section 11-a of the act and also proposed to impose penalty on the firm under rule 9(2), 52-a, 173q and 226 of the rules. ..... of the trade notice reads as follows:'having due regard to the aims and objects of the scheme, the government have decided to issue an order for removal of difficulties in terms of the provisions of section 97(1) of the finance (no. ..... dated 9.12.1998 was issued by board in the form of instructions relating to kar vivad samadhan scheme (removal of difficulties) order, 1998 under section 92 of the finance (no. ..... petitioners filed an application for the rectification of mistake under section 35-c(2) of the act. .....
Tag this Judgment!Court : Allahabad
Reported in : [1978]111ITR92(All)
..... :'whether, on the facts and in the circumstances of the case, the appellate tribunal was legally correct in holding that the proportionate share of the taxes paid by the firm, in which the assessee, was a partner under section 68 of the finance act, 1965, should be excluded from the wealth of the assessee on the relevant valuation date?'2. ..... radhey lal munni lal in which the assessee was a partner made a voluntary disclosure under section 68 of the finance act, 1965, declaring concealed income of rs. ..... 49,870 was a 'debt owed' under section 2(m) of the act and should be allowed as a deduction in arriving at the net wealth of the assessee. .....
Tag this Judgment!Court : Allahabad
Reported in : 1987(12)ECC75; 1987(11)LC496(Allahabad); 1987(28)ELT234(All)
..... these rules have been amended by section 51 of the finance act, 1982, the relevant portion whereof reads as under :-'51. ..... secondly, the said rule as amended by the finance act 1982 has the effect of nullifying any decision, order or guidelines which are inconsistent with the amended provisions of rules 9 and 49. ..... (2) any action or thing taken or done or purporting to have been taken or done before the 20th day of february 1982 under the central excise act and the central excise rules, 1944 shall be deemed to be, and to have always been for all purposes, as validly and effectively taken or done as if the amendments referred to in sub-section (1) has been in force at all material times and, accordingly notwithstanding anything contained in any judgment, decree or order of any court, tribunal ..... or other authority, -(a) all duties of excise levied, assessed or collected or purporting to have been levied, assessed or collected before 20th day of february, 1982 on any excisable goods under the central excises act, shall be deemed to be, and shall be deemed to have always .....
Tag this Judgment!Court : Allahabad
Reported in : (2004)191CTR(All)282; [2004]270ITR389(All)
..... section (9) was also inserted in section 171 of the it act by the same finance act ..... before or after such partial partition;(d) the several liability of any member or group of members aforesaid shall be computed according to the portion of the joint family and the provisions of this act shall apply accordingly}.explanation---in this section,--(a) 'partition' means--(i) where the property admits of a physical division, a physical division of the property, but a physical division of the income without a physical division of the property ..... of law under section 27(1) of the wt act, 1957, hereinafter referred to as the act, for opinion of this court :'whether, on the facts and in the circumstances of the case, the tribunal was legally correct in holding that the amended section 20a of the wt act inserted by the finance (no. ..... (1); if in the course of the assessment proceedings, it is claimed by any of the members of the huf which had been assessed to tax under the act in that status unless and until an order was made under section 25a(1); if in the course of the assessment proceedings, it is claimed by any of the members of the huf that there has been total partition of the family property resulting in physical division ..... recognition as the amendment made by section 20a of the act was applied only ..... amendment made in the wt act, being section 20a of the act ..... section 20a of the act which was inserted by finance ..... a plain reading of section 20a of the act, which was inserted by finance (no. .....
Tag this Judgment!Court : Allahabad
Reported in : (2002)172CTR(All)151; [2002]255ITR111(All); [2001]119TAXMAN105(All)
..... this was not intended by section 43b, and, hence, the first proviso was inserted by the finance act, 1987, in order to eliminate the hardship to such assessees.7. ..... the mistaken legal impression of the petitioner in filing the first revised return appeared to be that since the finance act, 1987, which inserted the proviso to section 43b was made effective from april 1, 1988, and was not expressly declared as retrospective the statutory duty of paying sales tax which was paid after the end of the previous year did not appear to be disallowable under section 43b.11. ..... as stated in paragraph 15 of the writ petition, although the amount of sales tax outstanding was not payable by the close of the previous year as per the provisions of the sales tax act, the petitioner was advised that in view of the amendment proposed by the finance bill, 1989, inserting explanation 2 to section 43b, the amount of sales tax outstanding was disallowable under section 43b. ..... it is alleged in paragraph 15 of the writ petition that although the amount of sales tax outstanding was not payable by the close of the previous year under the sales tax act, the petitioner was advised that keeping in view the amendment proposed by the finance bill, 1989, to insert explanation 2 to section 43b, the amount of sales tax outstanding was not allowable under section 43b of the income-tax act. .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]154TAXMAN157(All)
..... under section 256(1) of the income tax act, 1961 (hereinafter referred to as 'the act'), for opinion to this court:'whether, on the facts and in the circumstances of the case, the appellate tribunal erred in law in holding that weighted deduction was not admissible with reference to stationery, printing and postage expenses on the ground that they were relatable to section 35b(1)(b)(iii) which was not operative for the assessment year in question, having been omitted by finance (no. ..... in further appeal, the tribunal took the view that these claims were relatable to section 35b(1)(b)(iii) and could not be allowed as sub-clause (iii) was not operative for the assessment year in question, having been omitted by the finance (no. ..... 2) act, 1980 and whether the said expenditure was allowable under section 35b(1)(b)(i)?'2. ..... as the provision under which the claim of weighted deduction on the expenditure on stationery, printing and postage could have been allowed has already been omitted by the finance (no. ..... 2) act, 1980, the deduction was not admissible. ..... 2) act, 1980. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR2009All36; 2008(4)AWC3653
..... the words used in section 2(h)(d) of the act, which are to be considered are 'substantially financed'. ..... owned by the institution and the mere fact that the institution is receiving grant-in-aid from the state government by way of payment of salary to the teachers and staff, will not cover the institution under section 2(h) of the act since the institution is not substantially financed. ..... case, the argument is accepted that merely because it has its building, land and property, which is corpus of the institution, it will go out of definition of section 2(h) of the act and the entire purpose of the act 2005 shall be defeated.8. ..... in fact, the authorities under the act have to find out in each and every case whether the institution is substantially financed or not and in the present case no inquiry having been conducted by the competent authority the orders directly issued asking the management to divulge the information cannot be sustained.4 ..... - in this act, unless the context otherwise requires,(h) 'public authority' means any authority or body or institution of self-government established or constituted(a) by or under the constitution;(b) by any other law made by parliament;(c) by any other law made by state legislature;(d) by notification issued or order made by the appropriate government, and includes any(i) body owned, controlled or substantially financed;(ii) non-government organisation substantially financed, directly or indirectly by funds provided by the appropriate government .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1992All239
..... proceedings for the sale of property through the receiver is not making any headway; the court does find it surprising that a premier public finance institution, sought and was granted an order to sell through a receiver, but this public finance institution cannot formulate a scheme for the sale of the properties and the assets of the company or a scheme to transfer the management of ..... long drawn litigation and the tfc1 should be able to go to the appropriate court and straightway seek an order of attachment and proceed with the sale of properties, thereafter, the provisions of the act shall be carried, into effect, so far may be practicable in the manner prescribed in the civil procedure code for the sale of properties as if a decree were being executed.19. ..... the concern of the court is that the parties in this petition in the original jurisdiction of the court, are public finance institutions, all instrumentalities of the state, and no headway has been made to report to the court with confidence that the loans given to the company are being ..... defeated.the courts will interpret enactments which create public finance institutions and obliges them to encourage trade and industry with working capital, in a manner by which a man of prudence would act either when granting loans or taking steps to recover ..... the crucial question is how effective the remedy under section 30 of the act, aforesaid, is to be as the legislature has provided a special remedy, it was intended ..... 73 of 1987; state ..... 1987 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1986)15ITD490(All.)
..... the cbdt which is in the nature of explanatory notes on the provisions relating to direct taxes in the finance act, 1983.paragraph 11.4 of this circluar, which is relevant, reads as under : the amendment takes effect retrospectively from april 1, 1979. ..... submission was that with the insertion of the explanation to section 9(1)(ii) by the finance act, 1983, any doubt, if there was one, has also ..... agreement with the stand of the assessees that the explanation inserted by the finance act, 1983, with effect from 1-4-1979 to section 9(1)(ii) cannot be applied to an assessment earlier to the assessment year 1979 ..... that subsequently an explanation to the above section was inserted by the finance act, 1975, with retrospective effect from 1-4-1962 ..... legislature wanted that the explanation should be treated as further retrospective, it could have very well made a provision like that as was done in the case of explanation to section 10(14) of the act, which was specifically made retrospective from the very beginning the act had come on the statute.he was also cirtical of the plea of the learned departmental representative shri upadhyay that the matter should be restored or set aside for reconsideration by ..... be permissible for assessees to contend that for the assessment year 1978-79 and earlier years, their assessments should be revised under section 264 [of the income-tax act, 1961] by ignoring the provisions of the new explanation and following the principle enunciated by the gujarat high court. .....
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