Judgment Search Results Home > Cases Phrase: finance act 1987 section 91 amendment of section 42 Sorted by: recent Court: orissa Page 1 of about 124 results (0.146 seconds)

Commissioner of Income-tax Vs. Pyarilal Kasam Manji and Co.

Court : Orissa

Reported in : (1992)101CTR(Ori)247; [1992]198ITR110(Orissa)

..... with a view to get over them, amendments in section 43b were introduced by the finance act, 1987. ..... the original provisos introduced in section 43b by the finance act, 1987, read as follows (see [1987] 166 itr 9) :'provided that nothing contained in this section shall apply in relation to any sum referred to in clause (a) 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 ..... the finance act, 1987, inserted a proviso to section 43b to provide that any sum payable by way of tax or duty, etc ..... from the legislative history set out above, we find that the first proviso to section 43b came into effect from april 1, 1988, and explanation 2 enacted by the finance act, 1989, was made retrospective in its operation with effect from april 1, 1984. ..... both the provisos have been amended by the finance act, 1989. ..... this section was inserted by the finance act, 1983, with effect from april 1, 1984 ..... the memorandum to the finance bill, 1989, clarified the object of deleting the words 'during the previous year' in the following words (see [1989] 176 itr 124 'under the existing provisions of section 43b of the income-tax act, 1961, it is also provided that any sum payable by the assessee as an employer by way of contribution to the provident fund or superannuation fund, etc .....

Indian Metals and Ferro Alloys Ltd. Vs. Commissioner of Income-tax and ...

Court : Orissa

Reported in : 1994(74)ELT802(Ori); [1993]203ITR729(Orissa)

..... was inserted by the taxation laws (amendment) act, 1984, with effect from october 1, 1984, and was amended by the direct tax laws (amendment) act, 1987, with effect from april 1, 1988. ..... june 1, 1988, the explanation to sub-section (1) of section 263 has undergone a change which was introduced by the finance act, 1988. ..... director-general or commissioner authorised by the board in this behalf under section 120 ; (b) 'record' includes all records relating to any proceeding under this act available at the time of examination by the commissioner ;(c) where any order referred to in this sub-section and passed by the assessing officer had been the subject-matter of any appeal, the powers of the commissioner under this sub ..... passed by the assessing officer shall include-- (i) an order of assessment made by the assistant commissioner or the income-tax officer on the basis of the directions issued by the deputy commissioner under section 144a ;(ii) an order made by the deputy commissioner in exercise of the powers or in the performance of the functions of an assessing officer conferred on, or assigned to, him under the orders or directions issued by the board or by the chief commissioner or ..... on april 11, 1988, the petitioner wrote a letter to the commissioner and undertook to file a petition under section 273a(1) and (4) of the act for the concerned four years and the petition was filed on june 9, 1988, and the matter is pending .....

Commissioner of Income-tax Vs. Vincentian Orissa Society

Court : Orissa

Reported in : (1991)100CTR(Ori)211; [1992]194ITR743(Orissa)

..... been further amendments in the explanation to section 263(1) by the finance act, 1988. ..... explanation to section 263(1) was introduced by the taxation laws (amendment) act, 1984, with effect from october 1, 1984, for removal ..... sub-section (2) in the said section by the finance (no. ..... in this context, a reference to section 246 of the act as it stood at the relevant time ..... on being moved under section 256(1) of the act, the aforesaid question has been referred to this court ..... raised before the commissioner that the order having been passed after approval by the inspecting assistant commissioner in terms of section 144b, the same was not available to be revised by the commissioner under section 263 of the act. ..... commissioner of income-tax, orissa, was of the view that the order of assessment was prejudicial to the interests of the revenue, and proceedings under section 263 of the act were initiated. ..... of the revenue, the following question has been referred to this court for adjudication by the income-tax appellate tribunal, cuttack bench (in short 'the tribunal'), under section 256(1) of the income-tax act, 1961 (in short 'the act'). ..... section 144b has been omitted with effect from april 1, 1989, by the direct tax laws (amendment) act, 1987.5 ..... assessment order passed by the income-tax officer in conformity with the directions given by the inspecting assistant commissioner and thereby setting aside the order passed by the commissioner of income-tax under section 263 of the income-tax act, 1961 ?'2. .....

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. .....

Commissioner of Income-tax Vs. Utkal Flour Mills

Court : Orissa

Reported in : [1991]190ITR139(Orissa)

..... before the direct tax laws (amendment) act, 1987, with effect from april 1, 1989, section 139(4)(a) which was substituted by the finance act, 1968, with effect from april 1, 1968, and amended by the taxation laws (amendment) act, 1970, with effect from april i, 1971, stood as under :'4 (a) any person who has not furnished a return within the time allowed to him under sub-section (1) or sub-section (2) may, before the assessment is made, furnish the return for any previous year at any ..... time before the end of the period specified in clause (b), and the provisions of sub-section (8) shall ..... it was urged by the revenue before the tribunal that the decision of the supreme court is no more applicable in view of the amendment made to section 139 by the taxation laws (amendment) act, 1970, with effect from april 1, 1971. ..... : [1970]77itr518(sc) of the supreme court and held that the return, though not originally filed, was filed pursuant to the notice under section 148 of the act and is a return under section 139 although the provisions of section 139(3) of the act have not been complied with by the assessee. .....

National Federation of Insurance Field Workers of India (Cuttack Divis ...

Court : Orissa

Reported in : 106(2008)CLT118; [2009]185TAXMAN87(Orissa)

..... 701 dated 23.03.1995 stating therein, inter alia, that consequent upon the amendment of section 10(14) of the said act by the direct tax law (amendment) act, 1987 with effect from 01.04.1989, all circulars, instruction and clarifications issued by the board regarding section 10(14) up to 31.03.1999 ceased to have effect from the assessment year ..... it was also made clear that consequent upon the amendment of section 10(14) of the said act by the direct tax law (amendment) act, 1987 with effect from 01.04.1989, all circulars, instructions and clarifications issued by the board regarding section 10(14) up to 31.03.1989 ceased to have effect from the assessment year ..... paragraph 9 of the writ petition it has been stated that by the finance act, 1995 which came into effect on 01.07.1995 the words 'as may be prescribed' stated in section 10(14) of the said act has been amended. ..... in it appears that rajasthan high court was considering impact of the circular of the ministry of finance, government of india issued through the central board of direct taxes dated 28th november, 1986. ..... moreover, the subsequent circular issued by the government of india, ministry of finance dated 1st february, 2001 was also never placed before the division bench of the rajasthan high court and was ..... the circular of government of india, ministry of finance dated 4th january, 2001, which has been referred to above, was not at all considered by the division bench of the rajasthan high court as the same was not placed .....

Pravata Kumar Tripathy Vs. Union of India (Cbi)

Court : Orissa

..... electronic record was produced; (c) the certificate must furnish the particulars of the device involved in the production of that record; (d) the certificate must deal with the applicable conditions mentioned under section 65b (2) of the evidence act; and (e) the certificate must be signed by a person occupying a responsible official position in relation to the operation of the relevant device.15. ..... pradeep kumar sethy, chairman-cum-managing director of at group of companies with his associates collected money by forming atmpcs under the provisions of orissa co-operative societies act, 1962 (orissa act 2 of 1963) and used to enroll the depositors as members promising them to provide higher rate of interest on the deposits and since the schemes of at group were very attractive, the people in large ..... was instituted on the first information report submitted by one sri sukumar panigrahi before the inspector-incharge, kharvelnagar police station, bhubaneswar on 7.2.2013 and the case was registered under sections 420,120-b and 406 indian penal code against 13 accused persons namely pradeep sethy, mano.pattnaik, lakhia sahoo, satyabrat padhi, p.k. ..... even if for the sake of argument it is taken that there was 27 conversation between the petitioner and the main accused but it was just a request of the petitioner to the main accused to finance some amount for the cultural festival banki mahostov . ..... of gujurat v- mohan lal jitamal torwal reported in air 1987 sc 1321, it is held as follows: 5. .....

Damodar Mishra Vs. the East Coast Rail

Court : Orissa

..... has insisted that in case the railway administration is of the view that use of the unmanned level crossing has the potential of exposing the -6- users to accidents and mishaps, it is its obligation under section18 of the railways act, 1989 (hereinafter called in short act ) to get it manned after erecting necessary fences/gates/ bars.without resorting to such measures, the contemplated steps to close/demolish the unmanned level crossing is wholly illegal and arbitrary, he maintained. ..... referring to section 18 of the railways act, 1989, it has been urged that in case railway administration apprehends accidents and untoward incidents for the unregulated use of the unmanned level crossing, it is obliged erect a fence/gates/bars thereof. ..... section 18of the railways act, 1989 is extracted hereunder for ready reference:18. .....

M/S. Abb India Ltd. Rep.Through Its Chief Financia Vs. State of Odisha ...

Court : Orissa

..... (supra), wherein it has been held as follows: therefore, we are of the view that in order to maintain transparency, any officer who is involved in any manner or has acted with the process of audit and preparation of the audit report in respect of the dealer should no.be the assessing officer of that dealer. ..... 03.02.2014 (annexure-2) issued by the sales tax officer, bhubaneswar-i circle, bhubaneswar and the order of assessment dated 01.08.2014 (annexure6 series) passed by the deputy commissioner of sales tax, 2 bhubaneswar-ii circle, bhubaneswar-opposite party no.3 under section 42(4) of the orissa value added tax act, 2004 (for short, the ovat act . ..... further, the documents enclosed with the report which potentially carries the statement of the manager, accounts & finance, m/s ind barath energy (utkal) ltd. ..... opposite party no.3deputy commissioner of sales tax, bhubaneswar-ii circle, bhubaneswar having issued letter no.747 dated 21.01.2014 relying upon which the audit visit report was prepared is competent to assess the petitioner-company under section 42 of the ovat act.5. ..... the deputy commissioner of sales tax-opposite party no.3 being the purported author of the audit visit report could no.have utilized the said report to assess the petitioner-company under section 42 of the ovat act. mr. ..... justice can never be seen to be done if a person acts as a judge in his own cause or is himself interested in its outcome. .....

M/S. Orissa Stevedores Ltd. Link Road, Cuttack Vs. Deputy Commissioner ...

Court : Orissa

..... levy of interest is mandatory under section 75 of the finance act and there is no question of 4 limitation for levy of interest as st-3 returns were assessed and the service tax liability has already been met.4. .....