Court : Rajasthan
Reported in : (1984)42CTR(Raj)218; [1984]149ITR470(Raj)
..... amendment in the definition of the term 'income', the finance act of 1972 also amended section 12 of the 1961 act ..... act of 1922 (hereinafter to be referred as 'the act of 1922') by the act of 1961 and subsequent amendment of the relevant provisions by the finance act of 1972 (hereinafter to be referred to as 'the act ..... received from her husband was wholly taxable, as income deemed to have accrued to the assessee in british india under section 4(2) of the 1922 act, for the reason that the payments were made for the purpose of meeting the assessee's household and living expenses and ..... undergone a change in the act of 1961 and subsequently by the finance act of 1972 effective from april ..... act, the income of a charitable trust was made to stand on a footing different from the earlier provisions in that context and then the position was again changed by the finance act ..... the voluntary contribution did not constitute income in the hands of the recipient charitable society, the donation fell outside section 12(1) of the 1961 act, and, therefore, outside the ambit of section 12(2) and was not to be deemed to be income from property held under trust for the purposes of section 11 and was to be excluded from the taxable income.39. ..... by the finance act of 1972, the definition of the term 'income' was also made inclusive of voluntary contributions received by a trust created wholly for charitable or religious purposes or by an institution established wholly ..... section 12 of the 1961 act (before amendment .....
Tag this Judgment!Court : Rajasthan
Reported in : 1981WLN346
..... the allahabad high court held that they came within the definition of section 2(7)(d)of the finance act of 1966 and 1967 and as such the assessee company was an industrial ..... 1962 was issued under the rajasthan electricity (duty) bill, 1962--in pursuance of sub-clause 3 of clause 3 of the rajasthan electricity (duty) bill, 1962 read with the declaration inserted therein under section 3 of the rajasthan provisional collection of taxes act 1958 (rajasthan act 23 of 1958), the state government being of the opinion that it is expedient in public interest to do so, hereby exempts from tax the consumed--(1) by a consumer in any industry, in the manufacture, production: processing of repair of goods ..... the question was whether the company could be said to be a company, which is mainly engaged in processing of goods within the ambit of explanation of section 6 (d) of the finance act, 1958. ..... dictionaries to which we have referred, it appears to us, that in the context of the present statute which has used the expression 'processing' in contradiction or differently from the expression 'manufacture' the assessee company was engaged in the act of processing the goods in terms of the finance act at the relevant time. ..... ble jain, j, in the case of mewad sheet garh (supra) was of the opinion that the words have to be given meaning in the context of the legislative intent & was further of the view that sub-section (3) section 3 of act would even cover those cases where goods do not undergo any change. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1998Raj293; 1999(1)WLC151; 1998(1)WLN631
..... to entertain the petition and grant petitioner relief notwithstanding the existence of an alternative remedy and further that an alternative remedy provided under the act, is not efficacious remedy on account of the amendment brought about in the rajasthan stamps rules, 1955, which provides that no revision application shall be entertained under section 56 of the act or under rule 73 of the rajasthan stamp rules, 1955 unless it is accompanied by satisfactory proof of the payment of fifty per cent of the ..... for a consideration equal to the amount of theconsideration for the transfer.by rajasthan finance act, 1997, in column no. ..... thus, the article after the finance act, 1997, reads : 'the same duty as on a conveyance ..... has been held by the supreme court (para 10): 'under clause (0 of section 111 of the transfer of property act, 1882, implied surrender is a mode for determination of a lease of immovable property ..... transfer of property on the basis of market value of the land, building structure, machinery, the petitioner moved a revision petition' before the board of revenue (chief controlling revenue authority for the state of rajasthan) under section 56 of the stamp act, which was admitted and further proceedings were stayed. ..... ' under the illustration to clause (f) of section 111 of the transfer of property act, there would be an implied surrender of the former lease if a lessee accepts from his lesser a new lease of the property leased to take effect during the continuance of the .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)77TTJ(NULL)640
..... now we may pause here for a moment to clarify the legal position on this point as it emanates from the statutory provisions after the amendment effected vide finance act, 2002 in section 158b w.r.e.f. ..... in view of the provision of section 158bb(1) as it stands amended vide finance act, 2002, w.r.e.f. ..... now, as section 158bb(1) stands as amended vide finance act, 2002, ..... note that the provision of section 158bb(1) stands amended vide finance act, 2002 w.r.e.f. ..... besides, we cannot brush aside and ignore the emphatic fact that there is no return of the present assessee rk furnished on record for the block period, though assessee's allegation has been that the notice under section 158bc was not served on assessee on 12-12-1996, as alleged by the department, but served on 20-1-1997, but due to non-producing of convincing supportive evidence we have not accepted the assessee's allegations regarding the date of service ..... of being heard to the assessee by commissioner/director (or joint commissioner/joint director) before granting approval to the assessing officer for passing assessment order for the block period, as is evident from the proviso to section 158bg which provides for the said previous approval, and there being ample opportunity to the assessee-appellant for contesting various additions made in the block assessment before the appellate authority/tribunal, and ..... in assessment year 1987-88, ground no. ..... on account of investment in nsc in assessment year 1987-88. ..... in assessment year 1987-88. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR2008Raj28
..... alok sharma, learned counsel for the petitioner argued that while the rajasthan finance act, 1997 has affected amendment in article 10 of schedule-ii relating to articles of association of the act of 1952 by separately inserting article 10a but no corresponding amendment has been made in article 39 which pertains to memorandum of association of ..... upon the additional collector (stamps) to resort to the provisions of section 47-c of the act of 1952 before making a formal demand of payment of stamp duty ..... provisions of the companies act, 1956 that deal with the memorandum of association are contained from sections 12 to 19 whereas section 26 refers to articles of association to be signed by the subscribers of the memorandum of association of a company and section 31 provides the manner of alteration of ..... that if memorandum of association of a company is accompanied by articles of association under section 26 of the companies act, 1956 then, only a fixed stamp duty of rs. ..... petition argued that the impugned order could not be straightway challenged before this court in extraordinary remedy of writ jurisdiction in the face of alternate remedy of revision available to the petitioner under section 65 of the stamp act before the chief controlling revenue authority. ..... 39, however, provides that if memorandum of association of a company is not accompanied by articles of association under section 26 of the companies act, 1956, it would attract the same duty as on articles of association (no. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1977Raj80; 1976(9)WLN422
..... while dealing with the question whether any profit made as a result of compulsory acquisition of an electrical undertaking should be regarded as profits or gains within the meaning of sub-section (2) (vii) of section 107 of the income-tax act, which provides for computation of such profits or gains 'after making allowance in respect of any machinery or plant which has been sold', rejected the contention that the word 'sale ..... of the word 'sale' in the finance act for the purpose of imposition of excess profits tax, the court held that sale in the finance act should not be construed in the light of the provisions of the sale of goods act but must be understood in the commercial ..... ; (3) a thing, the absolute or general property in which is transferred from the seller to the buyer, and (4) a price in money paid or promised' coming to the indian law on the sub-sect section 77 of the contract act defined 'sale' as 'the exchange of property for a price involving the transfer of ownership of the thing sold from the seller to the buyer'. ..... compulsory acquisition of the production of sugar manufactured or produced was not a 'sale of goods' within entry 48 of list 2 of the government of india act, 1935 and, therefore, the fixed price paid for such acquisition by the controller was not taxable. ..... 1894) 1 qb 507:'if that transaction had taken place between private persons or private companies without an act of parliament, supposing that were possible, how would it be done, and what would be the .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)199CTR(Raj)305; [2006]281ITR177(Raj)
..... referred to in clauses (i) and (ii)] attributable to the business, the profits from which are eligible for deduction under section 80hhc or section 80hhd; so however, that such amounts are computed in the manner specified in sub-section (3) or sub-section (3a) of section 80hhc or sub-section (3) of section 80hhd, as the case may be; or(iv) the amount of the loss or the amount of depreciation which would be ..... act, he could make the necessary changes before proceeding to assess the company to tax under the explanation to section 115j of the it act.the apex court referred to the object of introducing section 115j in the it act deduced from the budget speech of the then finance minister of india made in parliament while introducing the said section, ..... amendment, with the insertion of sub-section (1a) read with the explanation it reads as under :'(1a) every assessee, being a company, shall, for the purposes of this section, prepare its p&l; a/c for the relevant previous year in accordance with the provisions of parts ii and iii of schedule vi of the companies act, 1956 (1 of 1956).explanation : for the purposes of this section, 'book profit' means the net profit shown in the p&l; a/c for the relevant previous year prepared under sub-section ..... 1987 together with existing looms in sulzer weaving unit except temporary construction at banswara, wherein the rate applied is 20 per cent has been provided on written down value method at the rates specified in schedule xiv of the companies act .....
Tag this Judgment!Court : Rajasthan
Reported in : [1994]210ITR821(Raj)
..... the above clause was amended by the finance act, 1970, with retrospective effect from april 1, 1968, for (iii) distribution, supply or provision outside india of such goods, services or facilities outside india or on the insurance of such goods while in transit, (when such expenditure is incurred ..... recorded by the tribunal that the amount of subsidy given by the state government to the assessee for constructing the labour colony would not be converted into a loan, the said amount of subsidy was deductible under section 43(1) of the income-tax act, 1961, for the purpose of assessing the actual cost of the labour colony and the tribunal, was, therefore, right in taking the said view. ..... the tribunal has found that the said amount has to be deducted for the purpose of determining the actual cost under section 43(1) of the income-tax act, 1961, for the reason that the amount of the subsidy was not required to be repaid by the assessee to the state government. ..... accordingly, we hold that the income-tax appellate tribunal was justified in coming to the conclusion that weighted deduction under section 35b of the income-tax act was not allowable in respect of the expenditure on freight and packing charges and the tribunal was justified in disallowing 25 per cent. ..... explanation 2 was also inserted by the finance act, 1973, which was also from april 1, 1968, and according to which it was provided as under:'explanation 2 ..... cit) decided on january 27, 1987, and it was held as under :'question no. .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)172CTR(Raj)239
..... which was inserted by finance act (11 of 1987) with effect from 1-4-1988, and modified along with insertion of clauses (c), (d) and (e), and explanation 2, which was inserted vide act. no. ..... .section 43b inserted by finance act, 1983, with effect from 1-4-1984, reads as under :'section 43b ..... referred to in clause (a) or clause (c) or clause (d) or clause (e) which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return :provided further ........................explanation 1 ..... alia, on the ground that since the amount of tax had actually not been paid in the previous year relevant to assessment year to which the assessment related, the same cannot be allowed under section 43b as deduction and can be allowed as deduction only in the year of actual payment.in appeal, the commissioner (appeals) had confirmed the order of income tax officer.however, the tribunal, on ..... allowed under the sales-tax law, although after the close of the previous year, it shall be allowed as deduction.on an application being made by the commissioner under section 256(1) for making a reference of aforesaid question of law for the opinion of this court, the tribunal noticed that there is a conflict of opinion between various high courts. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1962]46ITR351(Raj)
..... income, profits or gains chargeable to income-tax have escaped assessment for any year, or have been under assessed or assessed at too low a rate or have been made the subject of excessive relief under this act, or that excessive loss or depreciation allowance has been computed,he may in cases falling under clause (a) at any time and in cases falling under clause (b) at any time within four years of the end of ..... year income profits or gains chargeable to income-tax have escaped assessment for that year or have been under assessed or assessed at too low a rate, or have been made the subject of excessive relief under the act, or excessive loss or depreciation allowance has been computed, or(b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part of the assessee the income tax officer has in consequence of information ..... proceed to assess or re-assess such income, profits or gains or recompute the loss or depreciation allowance; and the provisions of this act shall, so far as may be apply accordingly as if the notice issued under that sub-section :provided that the income-tax officer shall not issue a notice under clause (a) of sub-section (1) -(i) for any year prior to the year ending on the 31st day of march, 1941;(ii) for any year if eight ..... tax are dependent on the annual finance act which prescribes the rates. ..... purpose of a rejoinder to add new grounds to the parent petition unless leave has been first obtained and the petition amended. .....
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