Court : Rajasthan
Reported in : (2004)186CTR(Raj)52; [2004]267ITR398(Raj)
..... section 145 of the act of 1961, as it stood during the relevant assessment period, permitted maintenance of accounts on such hybrid basis and the maintenance of accounts was not required to be exclusively on mercantile or cash basis, as has now been made imperative since amendment of section 145 vide finance act, 1995 w.e.f. ..... rule 6(j) as was operating during the relevant assessment year has been, shown to exist by the assessee and found by the cit(a) as well as the tribunal to exist on cogent material that payment in the manner prescribed under section 40a(3) would have caused many difficulties to the payee, is not vitiated on any ground and does not give rise to substantial question of law for consideration in this appeal.17. in view thereof, no case is made out ..... whether, on the facts and in the circumstances of the case, the tribunal is justified in ignoring the fact that the whole payments made by the assessee during the previous year to m/s banswaa textile mills were in violation of section 40a(3) of the it act and the exceptions provided in rule 6dd(j) cannot be available throughout the year and interpretation of the rule in such a manner cannot be the intention of the legislature ?' 4. ..... 1986-87, 1987-88 and 1988-89 in relation to same assessee by a common order. ..... 1987-88, unless it may be found that the method of accounting employed by the assessee does not make it possible to correctly compute the income.11. ..... 1987-88. ..... 1987-88 in its total taxable income. ..... 1987-88. .....
Tag this Judgment!Court : Rajasthan
Reported in : (1993)109CTR(Raj)115
..... 194a inserted by finance act, 1987, w.e.f. ..... amendment therefore, does not apply to this case as the assessment year involved is 1974-75.in this view of the matter, we dismiss this reference application and refuse to call for the reference ..... 194a and the question whether there is a default or not is a question of interpretation of the of the provisions of the section.4. ..... 1st june, 1987, is prospective in operation. ..... 194a of the it act, 1961 and consequently, directing the ito to remit the interest charged under s. ..... 256(2) of the it act, has been filed by the cit, rajasthan, jaipur, for calling reference, on the following two questions :'(1) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the assessee ..... 201(1a) of the it act ? .....
Tag this Judgment!Court : Rajasthan
Reported in : (2008)218CTR(Raj)140
..... . : [1997]226itr625(sc) has taken the view, that section 27 has been amended by finance act of 1987, with retrospective effect, with a result that under section 22, owner is a person, who is entitled to receive income in his own right, and by virtue of amended provision of section 27, a person who is allowed to take or retain possession of any building or part thereof in part performance of a contract of the nature referred to in section 53a of the transfer of property act, 1882 shall be deemed to be the owner of that building ..... . if the assessee felt, that by virtue of the provisions of section 22, by virtue of amendment made in section 27, the interpretation given by this court in the aforesaid judgment was not correct, the said judgment was required to be challenged further, that having not beendone, the rights of ..... . we have considered the submissions, and find, that this amendment was made in the year 1987, while, the earlier judgment dated 21-7-1994 was rendered in the year 1994, and this aspect was ..... 7 found, that in view of the provisions of sections 14, 15, 19 and 22 of the partnership act, 1932, the partners may by means of an agreement among themselves decide, as to what could be the firm's assets and what could not be the firm's assets, and such an agreement can be ..... , in the capacity of the co-owners, in the same ratio in which they shared the profits and gains from the business of the firm, without going through the requirement of section 17(1)(b) of the registration act. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1997]227ITR698(Raj)
..... section 35b has been omitted by the direct tax laws (amendment) act, 1987, with effect from april 1, 1989. ..... cit wherein the dispute was with regard to freight and packing charges and it was held that they fell within the exclusive sub-clause (iii) of section 35b(1)(b), namely, on the carriage of such goods to their destination outside india and, therefore, no weighted deduction in respect of packing charges and freight was allowable.4. ..... ,' explanation 2 was also inserted by the finance act, 1973, retrospectively with effect from april 1, 1968, which reads as under :-- ' explanation 2. ..... sub-clauses (iii) and (viii) of the aforesaid section are as under :sub-clause (iii) : 'distribution, supply or provision outside india of such goods, services or facilities. . . ..... 7,68,512 being export freight under section 35b of the income-tax act, 1961 ?'2. ..... 7,68,512 being export freight under section 35b of the income-tax act.5. ..... in view of the provisions of section 35b(1)(b)(iii) read with the explanation 2, we are of the view that the tribunal was right in holding that the assessee was not entitled to claim weighted deduction of rs. ..... sub-clause (iii) of section 35b refers to any expenditure on supply or provision outside india of goods, services or facilities. ..... the explanation cannot be interpreted to include the freight charge paid as entitled for deduction under section 35b. ..... the facts of the case are that the assessee claimed deduction under section 35b of rs. .....
Tag this Judgment!Court : Rajasthan
Reported in : 1994(1)WLC554; 1994(1)WLN652
..... the rst act was amended by the rajasthan finance act, 1987 (act no. ..... in relating to works contract that tax would be leviable on the value of the works-contract after deducting (i) the cost of labour upto that extent as may be prescribed in the rules framed under the act, in view of explanation i to section 2(t); and (ii) such deduction as may be prescribed in the rules in view of the proviso to section 5(3)--on the other hand, sub-section (1) of section 5) of the act, which applied in respect of other sales, imposes tax on the taxable turnover which has been defined under clause ..... their lordships then laid down as under:a comparison of the provision contained in sub-section (3) of section 5 read with section 2(t) and sub-section (1) of section 5 read with section 2(s) would indicate that in relation to works contract the legislature has made a departure in the matters chargeability of the tax and by using the expression 'turnover' instead of 'taxable turnover' in section 5(3) it has charged the field of taxability to permit tax being levied on sales in the course of inter-state trade or commerce, sales outside the state ..... in the circumstances, it is not necessary to examine the other question relating to the validity of explanation i to clause (o) of section 2 of the rajasthan sales tax act, explanation (i) to clause (i) o section 2, sub-section (2-c) of section 7, clause (ii) of sub-rule (2) of rule 29 and sub-rule (2) of rule 46 of the rajasthan sales ax rules. .....
Tag this Judgment!Court : Rajasthan
Reported in : (1997)IILLJ608Raj; 1997WLC(Raj)UC1
..... seized of the matter of the provisions involved as under:-'the finance bill (no.2) of 1980 ultimately culminated in the finance (no.2) act, 1980 and by this act, section 80j was amended and sub-section (1-a) was introduced with retrospective effect from april 1, 1972. ..... the retrospective amendment made in section 80j was involved, as amended by finance (no.2) act, 1980 ..... finance act (no.2) of 1980 insofar as it amended section 80j by incorporating rule 19-a in the section with retrospective effect from april 1, 1972, was merely clarificatory in nature and must accordingly ..... non-payment of the bonus or delayed payment of bonus means that the contravention of the provisions of the bonus act have been made and is punishable under section 28 of the act, and for the reason that he had already paid the bonus for accounting year 1993-94 before coming into force of the amending act, as per the terms of the settlement arrived at between the employer and the employees, and additional liability cannot ..... even otherwise, any agreement or settlement, which negates the provisions of the payment of bonus is illegal per se as per provisions of section 34 of the payment of bonus act, section 34 of the act prescribes that subject to the provisions of section 31a, the provisions of the payment of bonus act shall have effect notwithstanding anything inconsistent carried on in any law for the time being in force or in terms of any award, agreement ..... counsel has relied on 1987(3) scc 189, 1987(3) scc 622 and .....
Tag this Judgment!Court : Rajasthan
Reported in : [2002]254ITR637(Raj)
..... nor justified (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was legally justified in holding that the income is not assessable in the assessment year 1987-88, despite the amended provisions of section 45(5) of the income-tax act, 1961 (3) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was legally justified in allowing relief to the assessee by holding that the decision of the ..... not in dispute that sub-section (5) of section 45 was introduced by the finance bill, 1987. ..... sandeep bhandawat learned counsel for the revenue that sub-section (5) of section 45 specifically deals with the cases of compulsory acquisition and is applicable with reference to the date of receipt of the compensation notwithstanding anything contained in sub-section (1) of section 45 relating to the year in which the transfer ..... of income-tax held that as the amount of enhanced compensation was received by the assessee in the year 1986, therefore, the capital gain could not be assessed for the assessment year 1987-88 as per section 45(5) as the same was introduced in the year 1988. ..... the proceedings were reopened under section 147, clause (a), for the year 1987-88 on the ground that the amount of compensation has been received in the ..... the note on finance bill, 1987, clearly speaks that the amendments will take effect from april 1, 1988, and will accordingly apply in relation to the assessment year1988-89 and .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)75TTJ(NULL)322
..... this ground was not pressed as there was an amendment in by the finance act, 1993, retrospectively with effect from 1-4-1989, and making additional tax leviable even in the cases of ..... further, the rule 5aa of the income tax rules has also been omitted by the income tax (third amendment) rule, 1987 with effect from 2-4-1987, meaning thereby that the assessing officer is bound to allow depreciation allowance in respect of assets entitled to, even if particulars relating to such assets were not furnished ..... the learned authorised representative submitted that the learned commissioner (appeals) erred in holding that the provision of section 143(1)(a) permits the assessing officer to make adjustment in respect of assessees claim regarding sales-tax, gratuity ..... he explained the extent and ambit of the prima facie adjustments to be made under the first proviso to section 143(1)(a) and empowers for the following adjustments :(i) only apparent arithmetical errors in the return, accounts or documents, accompanying the return,(ii) loss carried forward, deduction, ..... provisions) act, 1986 with effect from 1-4-1988, which has omitted section 34(1) of income tax act, 1961, and accordingly, the assessee is no longer obliged to furnish the prescribed particulars of the assets which were required ..... ) upheld the order of the assessing officer and held that the assessing officer was entitled to make adjustment/disallowance under section 143(1)(a) for inadmissible claim in the absence of evidence.2. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1990]68CompCas666(Raj); 1989(2)WLN216; 1989(2)WLN591
..... fresh application forms to such persons free of cost and has also returned their amounts/drafts for filing fresh applications in accordance with the conditions laid down in the amended form which has been duly approved by the central government and is in accordance with the articles of association of non-petitioner no. 1.11. ..... the non-petitioner company submitted an application under section 3 of the act for recognition which was granted to it under section 4 of the act from january 9, 1989, for a period ..... it is also pointed out that those persons who had applied for enrolment as members in the year 1987-88 have been supplied with fresh forms free of cost and if they choose to apply for membership as per the conditions laid down in the new form for application which has been approved ..... per the direction of the stock exchange division of the central government, ministry of finance, the number of members has been increased from 200 to 500. ..... this clearly shows that the central government, ministry of finance, through the department of economic affairs is giving directions to non-petitioner no, 1 from time to time as is evident from the documents mentioned above and other documents on file and ..... dated march 28, 1989, issued by the department of economic affairs, ministry of finance, government of india, addressed to the president of non-petitioner no. ..... have been already appointed, vide letter dated february 1, 1989, of the ministry of finance which has been marked as annexure-r-1/12. .....
Tag this Judgment!Court : Rajasthan
Reported in : 2005(191)ELT99(Raj); RLW2005(1)Raj264; 2005(1)WLC110
..... section 50(1) of the finance act, 1982, provides that in case of goods, chargeable with a duty of excise, under the act, as amended from time to time, read with any notification, for the time being in force, issued by the central government, in relation to the duty, so chargeable, there shall be levied and collected, a special duty of ..... from this case on which emphasis has been made by the learned counsel for the petitioner are reproduced hereunder :-'section 50 of the finance act, 1982, reads as under:'50. ..... manufactures thereof are used, are exempted from the payment of so much of the excise duty leviable thereon as is equivalent to the duty of excise, or as the case may be, the additional duty leviable under section 2a of the indian tariff act, 1934 (32 of 1934), already paid on copper or copper alloys in any crude form or manufactures thereof.notwithstanding anything contained in the foregoing paragraph, such pipes and tubes of copper and copper alloys manufactured from copper ..... (supra), is concerned, that was in the context of section 50 of the finance act of 1982. ..... later on section 34 of the finance act, 1975 ..... ''under section 50(1) of the finance act, 1982, special duty of excise, is to be levied and collected, equal to ten per cent of the amount, so chargeable on ..... in section 50 of the finance act of 1982 what has been provided for is that special duty of excise shall be levied and collected equal to ten per cent of the amount ..... central excise, cochin, 1987 (28) e.l.t. 58 (s.c.). .....
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