Judgment Search Results Home > Cases Phrase: finance act 1987 Court: kolkata Page 99 of about 15,093 results (0.076 seconds)

imperial Chemical Industries Ltd. Vs. Income-tax Officer, 'B' Ward and ...

Court : Kolkata

Reported in : [1978]111ITR614(Cal)

..... indian taxation regarding the grossing up of dividends was radically changed and by the finance act, 1959, the system of grossing up of dividends (under sections 16(2) and 18(5) of the 1922 act) was abolished and intercorporate dividends became liable to income-tax at each stage ..... against the said reopening of the assessment for the assessment year 1962-63 of the appellant on the ground that the conditions precedent to take action under section 147 of the income-tax act, 1961, are not satisfied in this particular case and the notice under section 148 was without jurisdiction and ought to have been withdrawn and without prejudice the appellant filed a return ..... of the basis and reasons of issuing the second notice under section 148 of the income-tax act, 1961, on the 20th of may, 1970, on the appellant runs as follows :'(y) to carry on business as capitalists and financiers and to undertake and carry on all kinds of financial, commercial, trading, trust, loan, agency and other operations, and to finance and provide money to or for any of the company's associated companies or for any other ..... and confirmed the finding of the basis and primary facts by the tribunal and held that section 52 of the income-tax act has no application to the facts of the case having regard to the nature of the transaction pursuant to the agreement ..... and was put into operation prior to 30th november, 1956, when the finance bill was introduced reimposing capital gains tax which had remained abolished for certain .....

Chowringhee Sales Bureau P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1977]110ITR385(Cal)

..... it was contended on behalf of the assessee that the above two sums should not be treated as income of the assessee as he was an auctioneer and was liable to pay sales tax under explanation 2 to section 2(c) of the bengal finance (sales tax) act, 1941, and, secondly, the sales tax was realised as the assessee's liability and could not be treated as income and, thirdly, it could not be treated as income until the assessee's liability ceased. ..... it was further observed that under the provisions of the bengal finance (sales tax) act, 1941, and the rules framed thereunder, there was an obligation on the part of every registered dealer, and one had to be a registered dealer if his sales were beyond a certain limit, to pay tax on all sales in certain ..... there was nothing, according to the supreme court, in entry 48 of list ii of schedule vii to the government of india act, 1935, which restricted the power of the legislature in the matter of imposition of sales tax to the levy of sales tax on the owner of the goods on whose behalf these were sold or the purchaser only ..... it may be mentioned that there was a dispute as to whether in its auction business the assessee was liable under the provisions of the bengal finance (sales tax) act, 1941, to pay sales tax. ..... it may also be mentioned that before the tribunal, it was contended on behalf of the assessee that the assessee was an auctioneer and was liable to pay sales tax in accordance with the provisions of the bengal finance (sales tax) act, 1941. .....

Indian Aluminium Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1983]141ITR258(Cal)

..... that application was the first application made by the company after section 80j(3) was enacted by the finance (no, 2) act of 1967 with effect from the 1st april, 1968, which specifically provided for a carry forward of any such ..... the circumstances of the case, the tribunal did not misdirect itself in law in not appreciating that the power to rectify a mistake apparent on the ' records ' in accordance with section 154 of the income-tax act, 1961, is also coupled with a duty to exercise that power for the ends of justice and whether the tribunal is right in law in ultimately holding that the applicant's instant case did not deserve the exercise ..... the return for the material year as there was no provision in the return form to indicate the amount of relief to be carried forward and in the assessee's application for certificate under section 197(3) of the act dated 6th april, 1967, according to the assessee, it was not only indicated that the relief under section 84/80j(3) would be available to the new foil mill at kalwa but also mentioned the quantum of relief ..... in the returns for the material years as there was no provision in the return form to indicate the amount of relief to be carried forward and in the assessee's application for a certificate under section 197(3) of the act, dated 6th april, 1967, it was not only indicated that the relief under section 84/80j(3) would be available to the new foil mill at kalwa but also mentioned the quantum of relief allowable according to its .....

Sm. Parul Lata Chakravarty Vs. Commercial Tax Officer and ors.

Court : Kolkata

Reported in : [1966]17STC116(Cal)

..... petitioner has been assessed with sales tax in the two cases respectively under the bengal finance (sales tax) act, 1941, and the central sales tax act, 1956, on her sale of snuff during the four quarters ending chaitra, 1356 ..... meaning of the word 'tobacco' in another statute, namely, the act of 1944, and the rule-making authority under the bengal finance (sales tax) act has also followed that legislative practice.15. ..... to why goods on which additional duty of excise were payable under the additional duties of excise (goods of special importance) act of 1957 (hereinafter referred to as ' the act of 1957 ') were exempted from sales tax has been explained by me in the cases of dilip mukherjee v. ..... included within the meaning of tobacco as given in item 9 of the act of 1944, and, passing through the several links explained earlier, the result would be that snuff would come within the ambit of rule 3(28), so as to allow the petitioner to deduct it from her gross turnover, and the sale of snuff cannot, therefore, be taxed under the bengal finance (sales tax) act, 1941.12. mr. ..... bengal act is concerned, we are primarily concerned with the text of rule 3(28) of the bengal sales tax rules, 1941, which have been framed in exercise of the power conferred by section 26 of the bengal finance (sales tax) act, 1941 ..... that the commodity sold by the petitioner is ' snuff', but he disallows the claim of exemption on the ground that 'snuff is not exempted from tax under the bengal finance (sales tax) act. .....

Jyotirmoy Ghosh and ors. Vs. the State of West Bengal

Court : Kolkata

Reported in : [1967]19STC343(Cal)

..... judge found that some of the documents called for are not covered by the protection against disclosure contained in section 25(1) of the bengal finance (sales tax) act, 1941, and that some others which are entitled to that protection are liable to disclosure under section 25(3) of the act in view of the fact that they are required for the purpose of a prosecution under the indian penal code in respect of those ..... petitions which sought to draw the attention of the court to the provisions of section 25 of the bengal finance (sales tax) act of 1941, stating that the documents called for are protected against disclosure under the provisions of that section and praying for a decision as to whether the exception to disclosure contained in section 25(3) of the act would be attracted to the cases, submitting at the same time that the petitioners will abide by whatever ..... in this connection we may consider section 54 of the income-tax act which contains a provision similar to that in section 25 of the bengal finance (sales tax) act of 1941, but is much wider in its content and includes within the list of protected papers the ..... documents called for from the petitioners are not entitled to the protection of section 25 of the bengal finance (sales tax) act, 1941, and are as such liable to be disclosed. ..... production of documents in the custody of officers of the sales tax directorate is concerned, the law in respect of the same is embodied in section 25 of the bengal finance (sales tax) act, 1941. .....

Prudential Capital Markets Ltd. Vs. Reserve Bank of India

Court : Kolkata

Reported in : II(2004)BC88,(2003)3CALLT333(HC),[2005]123CompCas764(Cal),[2004]55SCL591(Cal)

..... an application for registration to the bank in such form as the bank may specify: provided that a non-banking financial company in existence on the commencement of the reserve bank of india (amendment) act, 1997 shall make an application for registration to the bank before the expiry of six months from such commencement and notwithstanding anything contained in sub-section (1) may continue to carry on the business of ..... (ii) companies in the same group; (iii) all other non-banking financial companies; and (2) the book value of debentures, bonds, outstanding loans and advances (including hire-purchase and lease finance) made to, and deposits with - (i) subsidiaries of such company; and (ii) companies in the same group.to the extent such amount exceeds ten per cent of (a) above. ..... (3) notwithstanding anything contained in sub-section (1), a non-banking financial company in existence on the commencement of the reserve bank of india (amendment) act, 1997 and having a net owned fund of less than twenty-five lakh rupees may, for the purpose of enabling such company to fulfil the requirement of the net owned fund ..... to take part in the formation, supervision or control of the business of operations of any company or undertaking and for that purpose to act as an issue house, registrars and share transfer agents, secretaries, financial advisers or technical consultants or in any other capacity and to appoint and remunerate any directors, ..... was incorporated in march, 1987 and became a public .....

Calcutta Soft Drinks Pvt. Ltd. Vs. Calcutta Municipal Corporation and ...

Court : Kolkata

..... behalf of the corporation has, however, opposed the aforesaid contentions put forward on behalf of the appellants and has contended that the provisions contained in section 204(2) of the cmc act have not been attracted by the erection of the advertisement by the appellants and as such, his client had the right to proceed with the realisation of the advertisement-tax from ..... advertisement-tax, justice tapan kumar mukherjee was, on the other hand, of the view that the cases of the appellants fall within the purview of section 204(2) of the act and as such, the kolkata municipal corporation is not entitled to realise advertisement-tax from the appellants for giving advertisements on the various shops where their manufactured items are sold ..... was opposed by the calcutta municipal corporation thereby contending that the appellant was not entitled to get the benefit of exceptions provided in section 204(2) of the act as in the places where the advertisements were given by the appellant, not only the items manufactured by the appellants were being sold but also different items ..... corporation to realise tax if any statute gives authority to it to rezalise any tax and section 170(1) of the cmc act having permitted the corporation to realise advertisement-tax only under the situations mentioned in the section 204(1) of the cmc act and having also specifically prohibited the corporation from realising tax if the circumstances mentioned in section 204(2) are present, the conjoint ..... finance .....

State of West Bengal and ors. Vs. Suresh Chandra Bose

Court : Kolkata

Reported in : [1980]45STC118(Cal)

..... the proviso thereto is somewhat similar to section 12(1) of the bengal finance (sales tax) act, 1941, and its proviso except that under the proviso to section 14 of the orissa sales tax act, the period within which the claim for refund is to be made ..... open to the taxpayer, whether in regard to appeal against assessment or to claim for refund, were to be found within the four corners of the income-tax act, and that the assessee had no right enforceable against the commissioner of income-tax to require refund of tax by it upon grounds of equity and good conscience. ..... through court is open subject to the same restriction and also to the bar of limitation under article 96 of the limitation act, 1908, namely, three years from the date when the mistake becomes known to the person who has made the payment by ..... tax officer for being registered as a dealer under the bengal finance (sales tax) act, 1941, under a mistaken impression that he was a dealer under the said act and was liable to pay sales tax. ..... section 12(1) of the bengal finance (sales tax) act, 1941, provides as follows:the commissioner shall, in the prescribed manner, refund to a dealer applying in this behalf any amount of tax or penalty paid by such dealer in excess of the amount due from him under this act, either by cash payment or, at the option of the dealer, by deduction of such excess from the amount of tax due in respect of other period:provided that no ..... within the meaning of the bengal finance (sales tax) act, 1941. .....

Jadunath Saha and anr. Vs. Commissioner of Commercial Taxes

Court : Kolkata

Reported in : [1988]70STC273(Cal)

..... in sub-section (3) of such part of his turnover as specified in sub-section (2);(b) every dealer, other than those referred to in clause (a), whose aggregate of the gross turnover under this act and the gross turnover under the west bengal sales tax act, 1954 during any year ending on or after the 1st day of april, 1979, exceeds rupees fifty lakhs, shall, in addition to the tax payable by him under section 5 and section ..... the charging section of the bengal finance (sales tax) act, 1941 is section 4 which lays down that every dealer whose gross turnover in a given year exceeded the taxable quantum shall be liable to pay tax under that act on all sales effected during the ..... the scheme of the bengal finance (sales tax) act is to levy tax on 'all sales effected' of all commodities except which have been specified as tax-free in the first column of schedule i to the act subject to the conditions and exceptions set ..... section 6b was inserted in the bengal finance (sales tax) act, 1941 by an amendment with effect from 1st ..... are registered dealers under the west bengal sales tax act, 1954, the bengal finance (sales tax) act, 1941 and also under the central sales tax act, 1956. ..... commodities are not to be included in the taxable turnover of the petitioners, turnover tax should not be calculated by taking into consideration these items which have been specifically kept out of the purview of the bengal finance (sales tax) act, 1941 by the schedule annexed to the act read with section 6 of the act.2. .....

Suburban Industrial Works Vs. Collector of Central Excise

Court : Kolkata

Reported in : 1979(4)ELT155(Cal)

..... the blowers without any electrical device were not liable to excise duty under item 33 of the schedule to the central excises and salt act, 1944, till june 30, 1971, when the said item was amended. .....