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Indian Metals and Ferro Alloys Ltd. Vs. Specified Authority and ors.

Court : Orissa

Reported in : [1984]149ITR418(Orissa)

..... section (3) to section 72a was introduced by the finance act of 1978 with effect from may 12, 1978, and the said sub-section provided that the specified authority after examining the proposed scheme of amalgamation and on being satisfied that conditions referred to in sub-section (1) could be fulfilled if the amalgamation be effected should intimate the company that after amalgamation was effected in accordance with the scheme, it would make a recommendation to the central government under sub-section ..... ministry of finance, new delhi, to pass final orders in the matter under section 72a(1)of the act after considering the recommendation of the specified authority as well as other relevant materials on record by giving a reasonable opportunity to the petitioner to put forward its case as to the fulfilment of the pre-conditions prescribed in section 72a(1) (a) and (b) of the act. ..... the specified authority to expedite the recommendation so that the benefits provided under section 72a of the act could be availed of by the petitioner-company for the assessment year 1980 ..... do well to pass final orders under section 72a(1) of the act within two months from the date of ..... section 72a (1) and (2) of the act was introduced by finance ..... on august 8, 1.979, the petitioner-company filed a petition under section 72a(3) of the act with the specified authority for approval of the propose amalgamation of messrs kalinga tubes limited with the petitioner-company to be effective from january 1, 1979, a scheme .....

Commissioner of Income-tax Vs. Ganeshram Nayak

Court : Orissa

Reported in : (1981)22CTR(Ori)132; [1981]129ITR43(Orissa)

..... after the amendment by the finance act of 1969, the provision now reads: ' if the income-tax officer, in the course of any proceedings in connection with the regular assessment for the assessment year commencing on the 1st day of april, 1970, or any subsequent assessment year, is satisfied that any assessee- (a) has furnished under section 212 an estimate of the advance tax payable by him which he knew or has reason to believe to be untrue, or (b) has without reasonable cause failed to furnish ..... section 273 of the act, prior to its amendment by the finance act of 1969, read thus : ' false estimate of, or failure to pay, advance tax. ..... the main point for consideration is whether such assessments can be said to be ' regular assessments ' because jurisdiction to levy penalty under section 273 of the act depends upon the ito's satisfaction that one of the events named therein has happened while the ito is in seisin of proceedings in connection with regular assessment. ..... section 148 of the act provides : '(1) before making the assessment, reassessment or recomputation under section 147, the income-tax officer shall serve on the assessee a notice containing all or any of the requirements which may be included in a notice under sub-section (2) of section 139 ; and the provisions of this act shall, so far as may be, apply accordingly as if the notice were a notice issued under that sub-section...... ' 8. .....

ShamsuddIn Khan and anr. Vs. Commissioner of Income-tax

Court : Orissa

Reported in : AIR1958Ori143; 24(1958)CLT412; [1958]33ITR733(Orissa)

..... income that are chargeable to tax are described in section 6 of the act and an income which comes under any of these classes will be chargeable to tax unless it comes within any of the exemptions provided in other sections of the act.but the quantum of assessment of tax on that income depends on the provisions or the finance act which is an annual act fixing the various rates of income-tax and providing for ..... court their lordships had to construe the expression 'income chargeable to income-tax' occurring in section 34 of that act and they held that charge-ability of the income does not depend on the finance act, but entirely on the provisions of the income-tax act.they quoted with approval the well known federal court decision in chatturam v. ..... section 3 of the income-tax act says that the tax shall be at a rate specified in the annual finance act ..... to tax under the act whatever may be the provisions of the finance act as regards the payability ..... tribunal held that the petitioners were liable to assessment at the maximum rate, by virtue of the proviso to sub-section (1) of section 41 of the income-tax act; and then at the request of the assessees, stated a case, as aforesaid, for the decision of this court ..... the finance act says that the tax shall be levied at the rate specified in the schedule to that act; and the schedule while specifying the rates payable on various slabs of income says in the proviso that 'no income-tax shall be payable on a total income which before deduction of .....

Miss. Lopamudra Misra Vs. Assistant Commissioner of Income Tax and ors ...

Court : Orissa

Reported in : 2009(I)OLR844

..... 0262/2002-03 was filed, inter alia, on the ground that the assessing officer was not justified in applying the provisions of section 115bb of the act and that the effect of amendment to section 2(24)(ix) where an explanation was added, vide explanation-ii by the finance act, 2001, came into effect only on 1.4.2002 for the first time, bringing the receipts from t.v. ..... which is quoted herein below:(a) whether in the facts and circumstances of the case the receipt of the appellant on 5.11.2000 can be said to be income and exigible to tax under the income tax act, 1961, for the a/y 2001 -2002, especially when the amendment to section 2(24)(ix) was brought into effect from 1.4.2002section 2(24)(ix) was inserted in the income tax act, 1961 by the finance act, 1972 w.e.f. ..... it is further contended that the appellant having receipt the payment on 5.11.2000, the provision of section 115bb and the explanation-ii of section 2(24)(ix) came into effect only by way of promulgation of the finance act, 2001 w.e.f. ..... in the impugned order, the tribunal while dealing with the revenue's appeal/contentions regarding the applicability of section 115bb and whether the receipt by the appellant was taxable thereunder or not and the receipt by the appellant taxable under the said provision or not, came to hold that the definition of income under section 2(24)(ix) was amended since the definition was not exhaustive and also to include prizes won in entertainment programmes on television and decided .....

Rajkumar Lakshminarayan Bhanja Deo Vs. Commissioner of Income-tax, Bih ...

Court : Orissa

Reported in : [1965]58ITR457(Orissa)

..... section 13 of the finance act, 1950, is almost identical in language with section 7(1) of the act 67 of 1949 and their lordships observations (at page 473) that 'the effect of this provision was to repeal all laws relating to income-tax in its broadest sense prevailing in those parts of india to which the indian income-tax act extended from 1st april, 1950', will apply with full force here.it was then contended relying on section 14(1) of the indian income-tax act ..... ) companys case regarding the effect of section 13 of the finance act, 1950, which was extended to madhya bharat (which was formerly under part b states) from april 1, 1950, will ..... of the levy, assessment and collection of income-tax and super-tax in respect of any period not included in the previous year of the purposes of assessment under the indian income-tax act, 1922, as extended to that state by section 3, or, as the case may be, the levy, assessment and collection of business profits tax for any chargeable accounting period, ending on or before the 31st day of march, 1948, and ..... the central legislature passed the taxation laws (extension to merged states and amendment) act, 1949 (67 of 1949), which was published in the gazette on ..... all laws in force in any of the orissa states prior to the commencement of the order whether substantive or procedural and whether based on custom or usage or statute, continue to remain in force until altered or amended by an order under the foreign jurisdiction act, 1947 (xlvii of 1947). .....

Indian Metals and Ferro Alloys Ltd. Vs. Union of India (Uoi) and ors.

Court : Orissa

Reported in : [1992]195ITR539(Orissa)

..... subsequently, it has been renumbered as section 2(1b) with effect from april 1, 1989, by the direct tax laws (amendment) act, 1987. ..... subsequently, sub-section (3) was inserted by the finance act, 1978, making it operative from april 1, 1978 ..... the expression 'financial non-viability' has not been defined in the act ; but the finance minister's speech, the notes on clauses of the bill and the memorandum explaining the provisions of section 72a of the act make it clear that the financial non-viability of an undertaking has been equated with the 'sickness' of such undertaking and, obviously, in the context of its revival by a sound undertaking, the sickness must be of a temporary character and ..... the object of introduction of the said section, as appears from the finance minister's introductory speech during presentation of the budget, was to the effect that sickness amongst industrial undertakings is a matter of grave national concern ; closure of any sizable manufacturing unit in any industry entails social costs in terms of ..... the section was inserted by the finance (no. ..... this lack of finance may be acting as a detriment. ..... the notes on clauses to the finance bill, 1977, memorandum explaining the provisions of the said bill and the reply to the debate in parliament on the bill on june 23, 1977, clearly show that the object of the enactment is to save the government ..... such rejection the petitioner submitted a representation to the ministry of finance. ..... , it was introduced by the finance (no. .....

M/S.Tata Sky Ltd. Rep. Through Its M.D. and Ceo, S Vs. State of Orissa ...

Court : Orissa

..... state can levy entertainment tax on services covered under section 65(15) of the finance act, 1994 as amended from time to time in respect of the same taxable ..... above questions, it is felt necessary to refer to some of the constitutional provisions and statutory provisions of the 13 finance act, 2001, the prasara bharati (broadcasting corporation of india) act, 1990 and the orissa entertainment tax act, 2006 as amended by orissa entertainment (amendment) act, 2010 and the orissa entertainment rules, 2006 as amended by the orissa entertainment (amendment) rules, 2010, which are relevant for our purpose. ..... service under section 65(105)(zk) of the finance act, 2001 as amended with effect ..... under section 65 (105) (zk) of the finance act, as amended, dth service is covered under the ..... section 65(105) (zk) of the finance act, 2001 as amended ..... (i) levy of service tax on service provided or to be provided to a client by a broadcasting agency or organization covered under section 65(15) of the finance act, 1964 by the union government and (ii) another levy of entertainment tax by the state government on entertainment through dth broadcasting service on the ground that such levy is on a different aspect/sphere and covered under entry 62 ..... the definition of broadcasting, as contained in section 2(c), is incorporated in section 65(15) of the finance act, 2001 and further includes programme selection, scheduling or presentation of 7 sound or visual matter for public viewing through space, cable .....

Laxmi Narayan Agarwalla and ors. Etc. Vs. State of Orissa and ors. Etc ...

Court : Orissa

Reported in : AIR1983Ori210

..... lord thankerton observed in (1936) ac 352, in re section 3, finance act, (northern ireland), 1934:--'it is the essential character of the particular tax charged that is to be regarded, and the nature of the machinery, often complicated, by which the tax is to be assessed is not of assistance except in so far ..... granted by the state of orissa under the provisions of the mines and minerals (regulation and development) act of 1987 (central act 67 of 1957) (hereinafter called 'the central act of 1957') read with the mineral concession rules, 1960 and are carrying on mining operations.4. mr ..... sarojini pradhan contended that the parent act sought to impose a fee; but by the amending act of 1976, the legislature had attempted to levy tax.the distinction between fee ,and tax ..... 22 of the amended bombay finance act, 1932 was beyond the powers of the bombay legislature, on the ground that it was essentially a ..... or confiscatory or unconstitutional in nature, the tax can be struck down as unreasonable and violative of article 19(1)(f).in moopil nair's ease (air 1961 sc 552) (supra), the vires of travancore-cochin land tax act, 1955, as amended by travancore-cochin land tax (amendment) act of 1967, was impugned. ..... enacted with the primary objective of condensing and simplifying the existing laws on the subject by consolidating the different enactments, customs and usages having force of law in the state and also to amend the same in such matters where they are found to be defective and deficient. .....

Mannalal Modi Vs. Commr. of Income-tax

Court : Orissa

Reported in : AIR1956Ori37; 21(1955)CLT441; [1956]29ITR30(Orissa)

..... fact of the indian finance act of 1939 not having been extended to the relevant area for the relevant assessment year'.under these circumstances their lordships held that it was a case where income chargeable to income-tax had escaped assessment, and therefore, section 34 had been rightly ..... was whether in the circumstances of the case it could be said that the income-tax officer had received 'definite information' within the meaning of section 34 as it stood after the amendment of 1939 and the second question was whether the income for the year 1939-40 had escaped assessment. ..... the assessment made or to be made is an assessment made or to be made on a person deemed to be the agent of a non-resident person under section 43, this sub-section shall have effect as if for the periods of eight years and for years a period of one year were substituted. ..... notice issued tinder that sub-section: provided that the tax shall be charged at the rate at which it would have been charged had the income, profits or gains not escaped assessment or full assessment, as the case may be: provided further that when the income, profits or gains concerned are income, profits or gains liable to assessment for a year ending prior to the commencement of the indian income-tax (amendment) act, 1039, or where .....

Commissioner of Wealth-tax Vs. K.B. Pradhan

Court : Orissa

Reported in : [1981]130ITR393(Orissa)

..... the above provision was for the first time amended by the finance act of 1964, with effect from april 1, 1964, and after the amendment the provision reads thus :' one house or part of a house belonging to the assessee exclusively used by him for residential purposes : '7. ..... the assessee further appealed to the tribunal and urged that the word ' house ' in section 5 should be given a liberal construction and as the provision covered part of a house even a house under construction should be considered to be a part of a house and exemption should, therefore, have been extended. ..... assessee claimed exemption in respect of the house under section 5(1)(iv) of the act, but the claim for exemption was rejected by the wto on the footing that the house was incomplete and the work being in progress it could not be considered to be a ' house ' within the meaning of section 5(1)(iv) of the act so as to entitle its value to be deducted as exemption under the relevant provision.3. ..... the relevant provision reads thus :'(1) subject to the provisions of sub-section (1a), wealth-tax shall not be payable by an assessee in respect of the following assets, and such assets shall not be included in the net wealth of the assessee--... ..... the tribunal examined the provision of section 5(1)(iv) of the act, referred to the common parlance meaning of ' house ' and held that the exemption provided for a pattern of investment including the provision for one house for every assessee. .....