Court : Gujarat
Reported in : [1997]224ITR378(Guj)
..... when it was observed, while considering the like provision of the indian it act, 1922 : 'the indian it act, 1922, as amended from time to time, forms a code, which has no operative effect except so far as it is rendered applicable for the recovery of tax imposed for a particular fiscal year by a finance act. ..... envisages that where the capital gain arises from transfer of long-term capital asset, and the assessee, in order to obtain the benefit of that section, has to invest within a period of six months from the date of transfer of the capital asset the net consideration in specified asset. ..... section 4 of the act is the charging section which provides that where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject to the provisions of the act in respect of the total income of the previous year of the ..... section 2 of the act envisages two types of capital ..... section 54a also provides for certain reliefs to the assessee in case where the capital gains arise from the transfer of long-term ..... section 48 which prescribes mode of computation and deduction in respect of income chargeable under the capital gains divides types of capital gains into two categories, namely, capital gains general and capital gains arising from transfer ..... section 48 envisages that capital gain arising as a result of transfer of capital asset are of the two categories .....
Tag this Judgment!Court : Gujarat
Reported in : [1968]69ITR186(Guj)
..... decision deprived the revenue of a large amount of tax which it would otherwise have obtained if section 33 of the english finance act, 1927, were held applicable, the crown accepted the decision as correct and did not appeal from ..... the provision which came up for construction in that case was sub-section (4) of section 33 of the english finance act, 1927, which was couched in the same language as our proviso and ..... the determination of the present controversy, section 44f follows closely, almost to a word, the corresponding section 33 of the english finance act, 1927 - replaced subsequently by section 237 of the english income tax act, 1952 - and, therefore, the observations made in regard to the object and purpose of the english section would be useful in understanding the reason for the enactment of section 44f. ..... are entered into by the assessee for the purpose of achieving such saving or escapement of tax liability the circumstances relating to the transactions would be very material and the opening part of sub-section (2), therefore, requires the income-tax officer to determine by reference to all the circumstances relating to the securities 'including the circumstances with respect to sales, purchases, dealing, contracts, arrangements, transfers ..... be noted that section 44f was introduced in our act by an amendment made in 1939 ..... when the legislature made extensive amendments in the income-tax act in 1939, the legislature introduced section 44f to remedy such mischief. .....
Tag this Judgment!Court : Gujarat
Reported in : [1977]107ITR489(Guj)
..... amounts, as on the first day of the previous year relevant to the assessment year, of - (i) its paid-up share capital; (ii) its reserves, if any, created under the proviso (b) to clause (vib) of sub-section (2) of section 10 of the indian income-tax act, 1922, or under sub-section (3) of section 34 of the income-tax act, 1961; (iii) its other reserves as reduced by the amounts credited to such reserves as have been allowed as a deduction in computing the income of the company for the purposes of the indian ..... income-tax act, 1922, or the income-tax act, 1961; (iv) its debentures, if any; and (v) any moneys borrowed by it from government or the industrial finance corporation of indian or the industrial credit and investment corporation ..... under rule 2 as it stood after its amendment by the business profits tax (amendment) act, 1948, where the company was one to which rule 3 of schedule i applied, its capital was to be the sum of the amount of its paid-up share capital and of its reserves in so far as they had not been allowed in computing the profits of the company for the purposes of the indian income-tax act, 1922, diminished by the cost to it of its investments or other property the income .....
Tag this Judgment!Court : Gujarat
Reported in : (1992)106CTR(Guj)218; [1993]201ITR451(Guj)
..... in order to appreciate the rival contention, it is necessary to read the relevant provision contained in paragraph a of part i of the first schedule to the finance act, which are as follows : 'surcharges on income-tax : the amount of income-tax computed in accordance with the preceding provision of this paragraph shall be increased by the aggregate of surcharge for purposes of the union calculated as ..... the assessee to show cause as to why assessment for the assessment years under reference should not be rectified under section 154 of the income-tax act, 1961 ('the act' for short). ..... expression 'amount of unearned income included in the total income' and, therefore, it could not be said that the matter was free from argument and debate, and, consequently, rectification proceedings under section 154 of the act were bad in law. ..... dividend income was treated as unearned income while making the assessment and, consequently, there was no question of treating the said income as earned income while exercising powers of rectification under section 154 of the act, as urged on behalf of the assessee. ..... ]82itr50(sc) , the mistake cannot be said to be a mistake apparent on the face of the record so that it could be rectified in exercise of the power under section 154 of the act. 8. ..... the appellate assistant commissioner that the income-tax officer could not have rectified the mistake alleged to have been committed by him while framing the assessments under the provisions of section 154 of the act. .....
Tag this Judgment!Court : Gujarat
Reported in : 1996(81)ELT467(Guj)
..... however, on reading the judgment, it appears that under section 51 of the finance act, rules 9 and 49 were amended and in conjunction with section 56a the amended rules were given retrospective effect. ..... on behalf of the petitioner, it has been submitted that so far as the complaint dated 3-8-1987 under section 9 read with section 120b of indian penal code is concerned, they have no quarrel and they are prepared to face the trial and this is the say of rest of the respondents accused also. ..... the complaint for breaches of various rules and provisions of the salt act punishable under section 9 thereof came to be filed on 3-8-1987 before the said court. ..... his submission was that conspiracy is a continuing offence and till detection in the year 1987, the offence continued and the investigation was initiated on detection and complaint was filed in the year 1987 itself and section 9aa having come into force in the year 1985 it would certainly apply and there is, therefore, no question of retrospectivity at all. ..... 441 of 1987 has been pending in the court of additional chief metropolitan magistrate, ahmedabad for offences punishable under section 9 of the central excises and salt act, 1944 (hereinafter referred to as 'salt act') in connection with various alleged breaches. ..... relying on : 1987(32)elt234(sc) learned counsel shri abichandani had submitted that section 11a is operating retrospectively. .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)192CTR(Guj)112; 2004(173)ELT117(Guj)
..... (a) continues to have the power of remand even after the amendment of section 35a(3) of the central excise act, 1944 by finance act, 2001, then the first question does not remain to be decided as substantial question of law.13. ..... (a) continues to have the power of remand even after the amendment of section 35a(3) of the central excise act, 1944, by finance act, 2001 ? ..... therefore, we entirely agree with the view taken by the learned single member of the tribunal that even after amendment of section 35a of the central excise act, the appellate authority has the power to set aside the decision, which is under appeal before it and it has power to remand the matter to the authority below for its fresh consideration.in view of the above ..... (a) does have jurisdiction to remand the appeal before him after the amendment to section 35a of central excise act, 1944 by finance bill, 2001, w.e.f. ..... (a) in appeals filed by the other side that he had no power of remand the matter after the amendment in section 35a of the central excise act, 1944, which came into force w.e.f. ..... (a) has any power of remand after amendment to section 35a(3) which came into force w.e.f. ..... we must also state that even after amendment, which has come into force w.e.f. ..... 2002 (144) elt 97 (trib) that even after the amendment the commr. ..... of customs 2002 (144) elt 385 (trib) and held that after amendment w.e.f. ..... (a) continues to have the power of remand under post 2001 provisions of the central excise act, 1944.11. .....
Tag this Judgment!Court : Gujarat
Reported in : (2009)223CTR(Guj)148; 2009[13]STR250; [2009]20STT91; (2009)26VST371(Guj)
..... the learned assistant solicitor general fairly invited our attention to the provisions of section 93 of the finance act, 1994 which reads as under:93. ..... person or body of persons engaged in any activity having objects which are in the nature of public service and are of a charitable, religious or political nature' which is excluded from the purview of service tax under the provisions of section 65(25a) of the finance act, 1994.2. ..... effluent treatment plants in gujarat established pursuant to the directions of this court and that each common effluent treatment plant is managed and administered by the respective body of industries either as a cooperative society or as a company established under section 25 of the companies act, 1956.5. mr. .....
Tag this Judgment!Court : Gujarat
Reported in : (1982)2GLR596
..... effect of section 13(2) of the finance act on the cochin act or travancore act with effect from the coming into force of the finance act, 1950 ..... when section 13(2) of the finance act provides that on the extension of the central act from april 1, 1950 to the part b state of travancore-cochin, any law corresponding to the central act is repealed with effect from that date, all that we have to see is whether the law repealed substantially provided for the same matters as the central act even though ..... section 11(1) of the finance act extended the central act and the rules and orders made there under, which were in force immediately after the commencement of the finance act ..... the state government urged the following three contentions:(1) the learned city civil judge committed a serious error of law in holding that section 202 of the code is repealed by section 19 of the public premises act, inasmuch as he has failed to appreciate that the provision contained in section 202 was namely procedural one prescribing the manner in which the collector would evict any person wrongfully in possession of the land ..... and the object of the code which, as apparent from the preamble, is to consolidate and amend the law relating to revenue officers and to assessment and recovery of land revenue and to other matters connected with the land revenue legislation, it is manifestly clear that the public, premises act, which has been placed on the statute book to provide for eviction of unauthorised occupant from .....
Tag this Judgment!Court : Gujarat
Reported in : [1980]45STC318(Guj)
..... the present item 19, after its amendment by the finance act of 1977, defines 'cotton fabrics' to mean all varieties of fabrics manufactured either wholly or partly from cotton and includes ... ..... in support of his contention that the legislature has now expressed its intention by adopting the test of predominance of basic material or the prescription of a minimum percentage of the basic material in the relevant entry of cotton fabrics as amended by the finance act of 1977. ..... the assessee had made an application before the deputy commissioner of sales tax under section 62 of the aforesaid act for determining the rate of tax payable on the sales of the aforesaid two ..... it is also axiomatic to say on the recognised principles of interpretation of statutes that 'the construction of a section is to be made of all the parts together' and that 'if not permissible to omit any part of it, the whole section should be read together' (vide s. ..... the outset it should be noted that we are concerned with the interpretation of entries 37 and 40 of schedule i to the gujarat sales tax act, 1969, which provides for exemption of various articles and commodities as provided in section 5 of the said act. ..... tribunal, therefore, accepted the appeal of the assessee and held that the saris in question were not liable to sales tax as they were exempted under section 5 of the sales tax act, 1969. ..... the instance of the revenue, this reference has been made to us under section 69 of the gujarat sales tax act, 1969. .....
Tag this Judgment!Court : Gujarat
Reported in : [1983]139ITR806(Guj)
..... case as follows (at p.602 of 35 itr) :'on principles established by authorities only such questions as relate to one or the other of the following matters can be questions of law under section 66(1) : (1) the construction of a statute or a document of title; (2) the legal effect of the facts found where the point for determination is a mixed question of law and facts; and (3) a finding of fact unsupported by evidence or unreasonable and perverse ..... 2(4) it has been provided :'in cases in which tax has to be deducted under sections 193, 194, 194a and 195 of the income-tax act at the rates in force, the deduction shall be made at the rates specified in part ii of the ..... the assessee, the rate at which tax was deductible on the remittances made in accordance with the provisions of s.195 of the act read with the finance (no. ..... rate of surcharge is nil.therefore, it is clear, in view of the provisions of the finance (no. ..... the finance (no. ..... the finance ..... in the relevant provisions of the finance (no. ..... appeal to the income-tax appellate tribunal and the main question of controversy before the tribunal was whether the impugned payments were covered by the expression 'royalties' used in the relevant provisions of the finance (no. ..... part ii of schedule i of the finance (no. ..... the case, the tribunal was right in law in holding that the payments made by the assessee to the foreign company were royalty payments and as such liable to deduction of tax at lower rate of 50% as prescribed in the finance (no. .....
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