Judgment Search Results Home > Cases Phrase: finance act 1987 section 91 amendment of section 42 Court: kolkata Page 5 of about 302 results (0.149 seconds)

Chloride India Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1995)53ITD180(Kol.)

..... for this purpose, section 89a was first introduced into the income-tax act by the finance act, 1982. ..... thereafter, the section was omitted and it was replaced by section 80hhc introduced by the finance act. ..... this was consequential to the amendment made to section 28 of the income-tax act treating the above three items as business income. ..... since its introduction, the section has received various modifications and amendments but the substance of the section is the same viz. ..... 1 -4-1991 by the finance act, 1990. ..... this decision establishes the proposition that it is necessary to infer the intention of the legislature while interpreting the provisions of a section it also establishes the proposition that even though in respect of the fulfilment of the second condition viz. ..... however, if regard is had to the fact that the legislature by amendment excluded freight and insurance from the total turnover, thereby bringing the total turnover at par with the export turnover, it would be clear that the intention of the legislature is to harmonise both the expressions.in other ..... a new explanation (ba) was introduced below section 80hhc with retrospective effect from 1-4-1987.as per this explanation, total turnover shall not include freight or insurance attributable to the transport of the goods or merchandise beyond the customs station. ..... 2) act, 1991 with retrospective effect from 1-4-1987 defined total turnover to exclude freight and insurance thereby bringing uniformity in the two. .....

The Century Spinning Mfg. Co. and ors. Vs. State of West Bengal and or ...

Court : Kolkata

Reported in : [1989]73STC277(Cal)

..... propositions of law that fall for consideration pertain to the validity of the provisions of section 6b of the bengal finance (sales tax) act, 1941 (hereinafter referred to as 'the said act of 1941') and the provisions of section 4aaa of the west bengal sales tax act, 1954 (hereinafter referred to as 'the act of 1954') which were incorporated in the said acts respectively by the bengal finance (sales tax) amendment act, 1979 (hereinafter referred to as 'the 1979 amendment').3. ..... state of bihar reported in air 1983 sc 1019, facts were that sub-section (1) of section 5 of the bihar finance act provided for the levy of surcharge on every dealer whose gross turnover during a year ..... making a law for the levy of a surcharge under entry 54 of list ii of the seventh schedule to take into account the total turnover of the dealer within the state and provide, as has been done by sub-section (1) of section 5 of the act, that if the gross turnover of such dealer exceeds rupees 5 lakhs in a year, he shall, in addition to the tax, also pay a surcharge at such rate not exceeding 10 per centum of the tax as may be ..... 2941 to 2943 of 1980, 2305 of 1980, 2361 to 2363 of 1980, 2308 of 1980, 80 of 1982, 2623 to 2625 of 1980, 992 of 1986, 2722 and 2723 of 1980, 1064 of 1987, 820 to 824 of 1987, 2721 of 1980, 81 of 1982, 3501 of 1981, 779 of 1981, 2362 of 1984, 2363 of 1984, 3714 of 1984, 3185 of 1984, 2312 of 1980, 1226 of 1981, 231 of 1984 and 68 of 1984 on the appellate side and writ petition .....

Saraf Infra Projects Ltd. and Anr. Vs. The State of West Bengal and Or ...

Court : Kolkata

..... the court : by this writ petition the petitioners have inter alia prayed for a declaration that sections 628 and 629 of the kolkata municipal act, 1980 (the act, for short) are ultra vires the constitution of india, a writ in the nature of mandamus commanding the respondents authorities to desist from insisting on implementation of those provisions of the act, a writ in the nature of prohibition restraining the respondent no.4 from insisting on exercising its ..... alleged that at no point of time the corporation or any authority mentioned the requirement of taking any other permission or referred to section 628 of the act which requires permission from the central government prior to the grant of sanction of any building plan in an area known as hastings ..... scc125a question cropped up for consideration was whether section 398a of the then kolkata municipal corporation (amendment) ordinance, 1989 subsequently replaced by the amendment act, was valid. ..... mr.mukherjee, the learned senior counsel for the petitioners.submitted that the effect of the absence of any declaration under section 3 of the works of defence act is that the central government does not require to impose any restriction on the enjoyment of the property of the petitioners.mr.mukherjee submitted that it is also obvious from the scheme of the constitution ..... - peerless general finance and investment company limited and others.reported in (1987) 1 scc424the supreme court held that interpretation of a statute must depend on .....

Deputy Commissioner of Income Tax Vs. Stone India Ltd.

Court : Kolkata

Reported in : (2001)69TTJ(Cal)569

..... the assessing officer observed that all expenditure incurred on the maintenance of the guest house and depreciation has to be disallowed by virtue of specific provisions of section 37(4) of the act and he further observed that clause (ii) of explanation to the section specifically mentioned that rent paid in respect of such guest house falls under the expression 'expenditure incurred on the maintenance of a guest house'. ..... as we find that in the instant case the assessee has not shown that the payments were made by virtue of any agreement with the workers under the industrial disputes act or any other analogous act, the disallowance made by the assessing officer under section 40a(9) of the act is in order and we, therefore, set aside the orders of the commissioner (appeals) on this issue.8. ..... we have carefully considered the rival submissions and perused the record.a careful reading of the provisions of sections 32/43a of the act and the clarification issued from time to time by the department of revenue indicates that in order to allow depreciation on the additional liability arising out of exchange fluctuation, the actual payment in that year is not compulsory. ..... cit (1997) 64 itd 33 (mum) wherein it was held that the decision of the calcutta bench of the tribunal (cited supra) has no application to the assessment year 1987-88 and onwards (due to amendment by the finance (no. .....

Commissioner of Income-tax Vs. Capital Electronics (Gariahat)

Court : Kolkata

Reported in : (2003)181CTR(Cal)402,[2003]261ITR4(Cal)

..... section 271b, inserted through the 1984 finance act, appears to be a little different when amended through the taxation laws (amendment and miscellaneous provisions) act, 1986 ..... question referred to this court for answer is as follows :'whether, on the facts and in the circumstances of the case, the appellate tribunal is justified in cancelling the penalty imposed under section 271b of the act on the ground that there was no absolute default on the part of the assessee to get the accounts audited ?'2. mr. ..... through the 1986 amendment act, section 273b was inserted. ..... juris secundum, volume 85, at page 580, in paragraph 1023, the apex court had held that the element of mens rea was not required to be proved in the proceeding taken by the income-tax officer under section 271(1)(a) of the act against the assessee for the assessment years 1965-66 and 1966-67.18. ..... cit : [1999]236itr977(sc) following mussadilal ram bharose's case : [1987]165itr14(sc) and jeevan lal sah's case : [1994]205itr244(sc) were also concerned with the same proposition where the liability arose out of wilful or gross neglect or from fraudulent act or omission on the part of the assessee, which bears an element of criminality or a quasi-criminal implication ..... section 44ab requires an assessee to get his accounts audited within the stipulated time, which, in this case, expired on june 30, 1987. ..... mussadilal ram bharose : [1987]165itr14(sc) ; cit v. k. r ..... decisions in mussadilal ram bharose's case : [1987]165itr14(sc) ; b. .....

Subhasis Bakshi and ors. Vs. State of West Bengal and ors.

Court : Kolkata

Reported in : (1993)1CALLT272(HC)

..... the west bengal council has been established under section 3 of the act as per amendment. ..... bengal, finance department, was so done 'on the recommendation of the bengal council of medical registration' and there it was directed :'that a title, certificate of qualification, diploma or licence granted by the governing body of the state medical faculty, to any person shall subject to the provisions referred to in the said clause entitled the holder of such title, certificate of qualification, diploma or licence to have his name entered in the register of registered practitioners maintained under section 15 of the said act.'18. ..... diploma in community medical services except appendix vii where the form of diploma is not correctly put in and which was rectified thereafter by notification dated 23rd june, published in the calcutta gazette extraordinary of 24th september, 1987 correcting the diploma as 'diploma in community medical service' instead of 'diploma in medicine for community physicians'.15. ..... 'it must be borne in mind that the word 'diploma' has been used in the notification of the government of bengal, finance department, of 17th may, 1915 without any prefix or suffix.16. ..... arun prokash chatterjee appearing for the petitioners submitted that the main reliance of the petitioners is on the notification dated 17th may, 1915 issued by the government of west bengal, finance department. .....

In Re: Wellman Incandescent India Ltd. (In Liquidation)

Court : Kolkata

Reported in : [2008]145CompCas228(Cal)

..... the sasf has urged that since the lands have been held by court upon the company having been wound up and as recognised by section 456 of the companies act, the applicant's complaint of non-payment of rent and cessation of manufacturing activity is, in effect, a grievance against the court's default for the period after the company was directed to be wound up. ..... a sub-clause of a section introduced to cover a particular type of contingency cannot cut down the scope or content of other clauses of the same section or the main provisions of the act nor can the addition of the said sub-clause by way of a subsequent amendment whittle down or restrict the applicability or reach of the whole enactment. ..... it is important to note that the aforesaid clause was introduced in section 3 of the act by an amendment made by west bengal act no. ..... the applicant refers to the overriding effect of the provisions of the said act of 1976 in terms of section 12 thereof to belittle the mortgagee's claim to its security ahead of the applicant's entitlement upon the lessee failing to adhere to the conditions that would permit the lessee to retain the lands.16. ..... doubtless an industrial undertaking is raised by finance made available to it which gives it the legs to stand on the land provided, but it is for the financial corporation creditor to assess the worth of the security obtained by mortgage.28. ..... [1987] 61 comp cas 663 : air 1987 sc 1023 and mahalakshmi oil mills v. .....

Union of India and ors. Vs. Indian Rayon and Industries Ltd. ors.

Court : Kolkata

Reported in : (2000)1CALLT146(HC),2000(71)ECC72

..... powers conferred by sub-section (1) of section 25 of the customs act, 1962 (52 of 1962), the central government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the government of india in the ministry of finance (department of revenue) ..... it would thus clearly emerge by the above-quoted observations in kastnka trading that the grant of exemption under section 25 of the customs act by itself would not amount to holding out any promise or assurance to any intending importer that the exemption once granted would remain operative indefinitely and that it cannot be withdrawn at ..... or conduct, which is intended to create legal relations or effect a legal relationship to arise in the future, knowing as well as intending that the representation, assurance of the promise would be acted upon by the other party to whom it has been made and has in fact been so acted upon by the other party, the promise, assurance or representation should be binding on the party making it and that party should not be permitted to go back upon it. ..... operative till 31st march 1981, it could not be rescinded or modified before the expiry of that date would amount to prohibiting the government from discharging its statutory obligation under section 25(1) of the act, if it was satisfied that it was in the 'public interest' to withdraw, modify or rescind the earlier notification. ..... 71/87-customs dated 1st march, 1987, namely :--in the table .....

Union of India (Uoi) Vs. Indian Rayon and Industries Ltd.

Court : Kolkata

Reported in : 2003(161)ELT109(Cal)

..... conditions the supersession or revocation of an exemption notification, in the 'public interest', is an exercise of the statutory power of the state under the law itself as is obvious from the language of section 25 of the act under the general clauses act an authority which has the power to issue a notification has the undoubted power to rescind or modify the notification in a like manner from the very nature of power of exemption granted to the ..... government under section 25 of the act, it follows that the same is with a view to enabling the government to regulate, control and promote the industries and industrial production in the country notification no 66 of 1979 in our ..... is sought to be enforced must be shown to be an unequivocal promise to the other party in tended to create a legal relationship and that it was acted upon as such by the party to whom the same was made a notification issued under section 25 of the act cannot be said to be holding out of any such unequivocal promise by the government which was intended to create any legal relationship between the government and the party ..... the public interest so to do, hereby makes the following amendment in the notification of the government of india in the ministry of finance (department of revenue) no. ..... dated 1st march, 1987, namely :-in the ..... 1987 was .....

Commissioner of Income Tax Vs. M.N. Dastur and Co. (P) Ltd.

Court : Kolkata

Reported in : (2000)159CTR(Cal)417

..... the provision of that section was substituted by section 80-o in the year 1968 and that section 80-o is further amended by finance act, 1971, with effect from 1-4-1972, and also amended by finance act, 1974, but made effective from 1-4-1972. ..... 137 that whatever might have been the interpretation placed on clauses (iv) of sub-section (1) of section 99 and section 85a, the correctness of which is not in issue before the apex court, so far as sub-section (1) of section 80m is concerned the deduction required to be allowed under that provision is liable to be calculated with reference to the amount of dividend in accordance with the provisions of the act and forming part of the gross total income and not with reference to the full amount of dividend received ..... or allowed under heading 'c-deductions in respect of certain incomes' in respect of any income of the nature specified in that section which is included in the gross total income of the assessee, then, notwithstanding anything contained in that section, for the purpose of computing the deduction under that section, 'the amount of income of that nature' as computed in accordance with the provisions of this act (before making any deduction under this chapter) shall alone be deemed to be 'the amount of income of that ..... marketing research corporation (1987) 61 ctr (delhi) 204 the delhi high court has considered the issue whether deduction should be allowed under section 80-o on the net income or on the gross income. .....