Judgment Search Results Home > Cases Phrase: finance act 1987 section 91 amendment of section 42 Court: andhra pradesh Page 4 of about 378 results (0.203 seconds)

Pentakota Surya Appa Rao and ors. Vs. Pentakota Seethayamma and ors.

Court : Andhra Pradesh

Reported in : [1976]103ITR222(AP)

..... that though section 137 of the income-tax act, 1961, which replaced section 54 of the indian income-tax act, 1922, prohibiting disclosure of information in the particulars contained in the income-tax returns furnished or accounts or documents produced under the provisions of the income-tax act, or in any evidence given in the course of any proceedings under the income-tax act and they should be treated as confidential, is omitted now under the finance act, 1964, however, the finance act amended section 138 of ..... , section 138(1) is not left as it stood amended under the finance act of ..... harish chandra chaturdas : [1973]87itr15(patna) in the orissa case it was held that after the omission of section 137 of the income-tax act, 1961, with effect from april 1, 1964, by the finance act, 1964, there is no ban on a court calling for production of the income-tax assessment records of an assessee for any period subsequent to april ..... that section 6 of the general clauses act would apply to the omission of section 137 and expressed the opinion that, since a contrary intention is not apparent in the finance act of 1964, the prohibition contained in section 137 of the 1961 act is not ..... the result of the omission of section 137 and the substitution of section 138 by adding a new sub-section to it by the finance act, 1964, is that no particulars contained in any document whatever, filed or produced during assessment proceedings, are confidential and the bar on the court from summoning for such .....

Commissioner of Wealth-tax Vs. R.D. Chand and

Court : Andhra Pradesh

Reported in : [1977]108ITR787(AP)

..... in the ultimate analysis, we hold that the non-filing of the return on 30th june of the corresponding assessment year is a completed default and not a continuing default; and what all clause (i) of section 18(1) as amendedby the wealth-tax (amendment) act, 1964, and by section 24 of the finance act, 1969, provides is for the scale of penalty that should be levied for every month during which the return was not filed. ..... clauses (i), (ii) and (iii) of the wealth-tax (amendment) act, 1964, were once again amended as stated above by section 24 of the finance act, 1969, which came into force on april 1, 1969. ..... eventually, the case came up before the supreme court, and it was observed as follows (page 463):'furthermore, it is the finance act which fixes the rate of interest payable under sub-section (2) of section 220 and it is common knowledge that every year the finance act makes important amendments in the rates payable under the various provisions of the income-tax act. ..... were amended by section 24 of the finance act, 1969, and clauses (i) and (ii) of the wealth-tax (amendment) act, 1964, were substituted by the following clauses (i) and (ii) along with an explanation:'in the cases referred to in clause (a), in addition to the amount of wealth-tax, if any, payable by him, a sum, for every month during which the default .....

Rastriya Ispat Nigam Limit Vs. Asst. Commissioner of Income Tax and An ...

Court : Andhra Pradesh

..... the parliament again amended section 32 of the act by finance act, 2001 w.e.f.01-04-2002 and the original provisions of section 32 of the act were restored, removing the time limit of eight years that was introduced with effect from 04.07.1997. ..... apart from that, in the present case, the notice under section 154 clearly states that the order under section 147 of the act made on 19-03-2010 requires amendment as there is a mistake apparent from the record and the notice also referred to the details of mistake.19. ..... the difference between the words any order in section 154 and the words the order in section 263 of the act would also have to be noticed and read to understand the words any order to mean even an order of re-assessment or the amended/rectified order passed by an income-tax authority. ..... 10.1 in hind wire industries limited (supra) sub-section (7) of section 154 of the act, as it then stood, fell for consideration, in particular the expression from the date of order sought to be amended therein, of the supreme court. ..... he also invited our attention to the impugned notice to contend that the notice itself makes it clear that the order under section 143(3) read with 147 of the act dated 19-03-2010 requires amendment under section 154 of the act. ..... 2005- 06 made on 19-03-2010 in your case requires to be amended as there is a mistake apparent from the record within the meaning of section 154/155 of the income tax act, 1961. .....

Commissioner of Income-tax Vs. H. Abdul Bakshi and Bros.

Court : Andhra Pradesh

Reported in : [1986]160ITR94(AP)

..... : [1979]118itr583(sc) , where the supreme court observed that the tribunal overlooked the amendments made by the finance act of 1964 and those amendments ought to have been considered by the tribunal. ..... , be a matter of academic interest to examine the real effect of the deletion of the word 'deliberately' in clause (c) of section 271(1) by the finance act of 1964. ..... tribunal allowed the assessee's appeal holding that the assessee discharged the initial burden to prove within the meaning of the explanation to section 271(1)(c) that the failure to return the correct income did not arise from any fraud or any gross or wilful neglect on ..... this reference made by the income-tax appellate tribunal, hyderabad ('the tribunal', for short), under section 256(1) of the income-tax act, 1961 ('the act', for short), at the instance of the commissioner of income-tax came up for hearing before a division bench consisting ..... before the completion of the assessment, the income-tax officer had also issued a notice under section 274(2) of the act requiring the assessee to show cause why penalty should not be levied for concealing the income or furnishing inaccurate ..... of the total income (hereinafter in this explanation referred to as the correct income) as assessed under section 143 or section 144 or section 147 (reduced by the expenditure incurred bona fide by him for the purpose of making or earning any income included in the total income but which has been disallowed as a deduction), such person shall .....

In Re Weirs Settlement Trusts. Macpherson and Weir (Viscount) Vs. Inla ...

Court : Andhra Pradesh

Reported in : [1970]76ITR53(AP)

..... the husbands death on the ground that an interest extending to the whole income ceased on his death (see section 2(1)(b) and 7(7)(a) of the finance act, 1894) : or on the ground that the trust funds were property which passed on the husbands death within the language of section 1 of that act unaided by section 2.the contention of the crown based upon section 2(1)(b) was but faintly urged before us, and we consider could not be sustained in the light of the decision ..... this case on estate duty raises questions concerning the relationship between section 1 and 2 of the finance act, 1894, and concerning their impact on discretionary trusts at a time when the answer to these question on future deaths is about to be provided by parliament in the finance act, 1969.the settlement dated november 26, 1957, was made by viscount weir on the occasion of the ..... under section 43 of the finance act, 1940 ..... in order to see whether an 'interest' existed the house decided that it must bear the same meaning as that word bore in sections 2(1)(b) and 7(7) of the act of 1894, and in considering the word 'interest' in those two section further decided that the rights of any one object of the discretion could not be so described, and that it was not permissible to attempt in some way group the competing rights ..... 491), 'pass' was not a word of art when the finance act, 1894, was introduced, and had been previously used in legislation.having formed the view that it is possible, despite some statement .....

Association of Pesticides Manufacturers, Andhra Pradesh and ors. Vs. S ...

Court : Andhra Pradesh

Reported in : 1997(5)ALT69; [1998]108STC135(AP)

..... consequential provisions were enacted in section 7(2) of the finance act which read as under : 'the amendments made in the central excises and salt act, 1944, sub-clause (1) shall be deemed to have effect on and from the 1st march, 1951 and accordingly :- (a) refund shall be made of all duties collected which would not have collected, if the amendment had come into force on that day, and (b) recoveries shall be made of all duties which have not been collected but which ..... special commercial tax officer [1987] 65 stc 48 (sc); 4 stj 77 holds the field no longer. ..... murthy where it was observed that the incidence of sales tax is ordinarily passed on to the customer and in the event of accepting the retrospective amendment a liability would be created without affording any opportunity to the assessee to pass on the incident of the tax and in such circumstances, there was no justification for review of the judgment it had earlier rendered. ..... cawasji's case [1985] 58 stc 1 (sc), were made, the court observed as under : 'though it is not for the state to justify or explain the necessity for the amendment even in relation to retrospectivity of the act but obviously, on the face of it, there appeared to be a change of policy by a succeeding government on the policy pursued by its predecessor. .....

P.V. Rajgopal and ors. Vs. Union of India and ors.

Court : Andhra Pradesh

Reported in : 1998(4)ALD268; [1998]233ITR678(AP)

..... 1 would draw your attention to sub-clause (vi) of clause (2) of section 17 which was inserted by the taxation laws (amendment) act, 1984, w.e.f 1st april, 1985 but was subsequently deleted by the finance act, 1985 w.e.f. ..... the amendment could take effect, the finance act, 19,85 withdrew the said amendment. ..... the case may be, has without good and sufficient reasons failed to deduct and pay the tax, (1a) without prejudice to the provisions of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section docs not deduct or after deducting fails to pay the tax as required by or under this act, he or it shall be liable to pay simple interest at fifteen per cent per annum on the amount of such tax was deductible to the ..... company of which he is the principal officer does not deduct or after deducting fails to pay the tax as required by or under this act, he or it shall, without prejudice to any oiher consequences which he or it may incur, be deemed to be an assessce in default in respect of the tax : provided that no penalty shall be charged under section 221 from such person, principal officer or company unless the assessing officer is satisfied that such person or principal officer or company, as ..... this was explained by the memorandum explaining the provisions of the finance act, 1985 by circular no.421, dated 12-6-1985 (1956 itr 138), hi spite of this legislative history, an attempt was made to tax the interest subsidy and the calcutta high .....

J. Raghottama Reddy, Vs. Income-tax Officer

Court : Andhra Pradesh

Reported in : [1988]169ITR174(AP)

..... prior to the amendment made by the finance act, 1970, the definition of the term 'capital asset' in section 2(14) of the income-tax act, 1961, excluded from its scope, inter alia, agricultural land in india. ..... union of india : [1975]98itr237(guj) , the approach of the gujarat high court is that by virtue of the amendment of the definition of 'capital asset' by the finance act, 1970, all agricultural lands situated within the limits of municipalities, etc. ..... the finance act, 1970, has accordingly amended the relevant provisions of the income-tax act so as to bring within the scope of taxation capital gains arising from the transfer of agricultural land situated in certain areas. ..... according to the definition as amended by the finance act (19 of 1970), all agricultural lands situate within municipalities and within such distance as may be notified, not exceeding 8 kilometres' redius, became capital assets. 12. ..... until the amendment of the definition of 'capital asset' by the finance act, 1970, 'agricultural land in india' was excluded from the definition of 'capital asset' by clause (iii) of the definition. ..... , parliament thought that it would be sufficient to amend the definition of 'capital asset' - and that was done by the finance act, 1970 (no. ..... 42 of 1970), any change has been brought about in the concept of the said expression consistent with the amendment of the definition of 'capital asset' by the finance act, 1970. ..... sarala devi [1987] 167 itr 136 is altogether different. .....

Elkem Technology, by Gpa Sponge Iron India Limited Vs. the Deputy Comm ...

Court : Andhra Pradesh

Reported in : (2001)169CTR(AP)49; [2001]250ITR164(AP); [2001]117TAXMAN382(AP)

..... clause (vii) of section 9 was inserted by the finance act, 1976, with effect from 1.6.1976 and a proviso was added to it by the finance (no.2) act, 1977, with effect from 1.4.1977 ..... appellant that in terms of clause ii of the agreement the payments made by the indian company to the non-resident company were for the purchase of equipment and towards consideration for construction of the project and therefore section 9(1)(vii) of the act are not applicable and the explanation 2 to the said provision would operate.8. ..... the assessee referred to explanation 2 of section 9(1)(vii) of the income tax act,1961 (for short 'the act'), to claim that the payment does not come under the definition of `fees for technical services'.the assessing officer has rejected the above contention of the assessee stating that in terms of clause ii(1)(b) of the contract ..... the assessing officer completed the assessment under section 143(3) on 28.12.1993 and held that the amount of rs.69,85,000/- is liable for indian income tax at 15% ..... of services of technical or other personnel) but does not include consideration for any construction, assembly, mining or like project undertaken by the recipient or consideration which would be income of the recipient chargeable under the head 'salaries'.section 9 applies to both residents and non-residents. ..... section 9 of the act deals with the income deemed to accrue or arise in india ..... it is against the said order, the above appeal is preferred in terms of section 260a of the act.3. .....

Commissioner of Income-tax Vs. Navabharat Enterprises (P.) Ltd.

Court : Andhra Pradesh

Reported in : (1987)62CTR(AP)189; [1988]170ITR332(AP)

..... section 37(2b) was omitted by the finance act, 1976, with effect from april 1, 1977, and it was again reintroduced by further amendment with effect from april 1, 1979, through the taxation laws (amendment) act, 1978. ..... it was further amplified by the explanation to sub-sections (2) and (2a) introduced by the finance act of 1968 expanding the scope of the restriction imposed by sub-section (2a) so as to take in any expenditure incurred by an assessee in expending entertainment allowance to its employees or other persons from february 29, 1968, and also the amount of any expenditure in the nature of entertainment expenditure incurred by any employee or other person ..... the initial step was section 6 of the finance act of 1961 which came into effect from april 1, 1962, by which the scope of the proviso to section 10(2) (xv) of the 1922 act was curtailed by imposing a ceiling limit on all business expenditure in the nature of entertainment expenditure which could be allowed to companies. ..... fleming (inspector of taxes) [1973] ac 628 (hl), the question was whether the expenses laid out for the provision of hospitality by a newspaper publisher to informants and contributors is deductible in computing the profits under section 15 of the finance act, 1965, to the newspapers published in the united kingdom. ..... the decision in union carbide's case : [1987]165itr558(cal) is of little assistance to the company. ..... cit : [1987]163itr848(kar) ). ..... cit : [1987]165itr558(cal) . 52. .....