Judgment Search Results Home > Cases Phrase: finance act 1991 section 2 income tax Court: patna Page 1 of about 1,037 results (0.306 seconds)

Commissioner of Income-tax Vs. Pawansut Cold Storage (P.) Ltd.

Court : Patna

..... scientific examination might indicate loss of moisture content, that is not sufficient for holding that the stored articles have undergone a process within the meaning of section 2(7)(c) of the finance act, 1973. ' 11. taking the view following the supreme court decision as to what are the functions of the cold storage, we find ourselves ..... [1991]191itr656(sc) , the question that came up for consideration was whether, on the facts and in the circumstances of the case, the assessee-company running the cold storage could be held to be an industrial company for purposes of section 2(7)(c) of the finance act, 1973, and the first schedule thereto. section 2(7)(c) of the finance act, 1973 ..... the investment allowance as claimed by the assessee as in his view the cold storage plant did not produce any article or thing as envisaged in section 32a of the act. 5. the appeal filed by the assessee was allowed by the commissioner of income-tax (appeals) and the appellate authority accepted the assessee's .....

North Koel Kendu Leaves and Mahulam Leaves, Vs. Union of India (Uoi) a ...

Court : Patna

..... cold storage pvt. ltd. v. cit : [1991]191itr656(sc) . in that case the question for consideration was whether the assessee, a private limited company, was an industrial company as defined under section 2(7)(c) of the finance act for the purpose of the first schedule to that act so that it is entitled to concession in the ..... [1984]145itr387(cal) the question for consideration before the calcutta high court was whether the assessee-company was an industrial company within the meaning of section 2(7)(c) of the finance act, entitled to the concessional rate of tax. the industrial company included even a company engaged in the manufacture or processing of goods. it was ..... cit : [1986]162itr764(bom) , the question before the bombay high court was whether the assessee was an industrial company within the meaning of section 2(6)(c) of the finance act entitled to the concessional rate of tax. the assessee was a company engaged in export of wool to foreign countries. the assessee after purchasing the .....

Shah Traders Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (1996)56ITD33(Pat.)

..... principles involved is important and so a fuller examination is necessary. a proviso was inserted below section 272a(2) of the act by the finance (2) act, 1991, w.e.f. 1 -10-1991 laying down that the amount of penalty for failure in relation to returns under section 206 shall not exceed the amount of tax deductible. the cit(a) has apparently reduced the ..... the penalty order that the person responsible to deduct tax at source, failed to comply with the provisions of section 206 of the income-tax act, 1961, inasmuch as no return was filed in form no. 26a on or before 30-6-1991. financial year under consideration was 1990-91. a notice was, therefore, issued to the assessee to show ..... cause why penalty should not be imposed under section 272a(2)(c) of the act. it was submitted, in reply, that although no return was filed in form .....

Kamkap (India) Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (1998)67ITD237(Pat.)

..... commercial terms under despatch arrangements.it was further submitted that the words 'technical services' had been substituted by 'technical or professional services' in section 80-o vide finance act (2) of 1991. the assessee further submitted that 'technical' means a person having specialised knowledge and experience in 8.7 in its reply to the assessing officer ..... of steel, grading of steel, chemical properties, mode of finance and transportation. these services were of the nature of technical and professional services. it was, therefore, contended that the assessee fulfilled all the requisite conditions for allowance under section 80-o of the it act.8.9 the assessing officer examined the assessee's explanations; ..... relied upon by the rival parties. we are of the view that the assessee is not entitled to the claim of deduction under section 80-o. section 80-o of the it act provides for a deduction of 50 per cent from the income of the assessee by way of royalty, commission, fees or any .....

Bhagwan Singh and Others Vs. Union of India and Others.

Court : Patna

..... thus :"the obligation on the seller to collect income-tax at source had been provided under section 206c of the act read with section 44ac thereof. the finance act, 1992, has deleted section 44ac and sub-section (1) to section 206c has been substituted by a new sub-section.the present set of cases are governed by the provisions as they existed till 31st march, ..... the state of bihar is also a "seller" within the meaning of the aforementioned provisions.thereafter, in raghunath prasad v. union of india (c. w. j. c. no. 7817 of 1991) [1993] 2 blj 152, (see madhan mohan gupta v. union of india : [1993]204itr384(patna) ), this court followed the decision of ramjee prasad sahus case : [1993]202itr800(patna ..... respect of the provisions of sections 44ac and 206c, a bench of this court, to which one of us, g. c. bharuka j., was a party, has refused to grant any interim relief by way of staying collection of income-tax for the reasons detailed therein in c. w. j. c. no. 5685 of 1991 (haroon rashid v. .....

Bhagwan Singh and ors. Vs. Union of India (Uoi) and ors.

Court : Patna

..... thus : 'the obligation on the seller to collect income-tax at source had been provided under section 206c of the act read with section 44ac thereof. the finance act, 1992, has deleted section 44ac and sub-section (1) to section 206c has been substituted by a new sub-section;the present set of cases are governed by the provisions as they existed till 31st march, 1992. ..... state of bihar is also a 'seller' within the meaning of the aforementioned provisions.6. thereafter, in raghunath prasad v. union of india (c. w. j. c. no. 7817 of 1991) [1993] 2 blj 152, (see madhan mohan gupta v. union of india : [1993]204itr384(patna) ), this court followed the decision of ramjee prasad sahu's case : [1993]202itr800( ..... respect of the provisions of sections 44ac and 206c, a bench of this court, to which one of us, g.c. bharuka j., was a party, has refused to grant any interim relief by way of staying collection of income-tax for the reasons detailed therein in c.w.j.c. no. 5685 of 1991 (haroon rashid v. .....

Parikh Engineering and Body Building Co. Ltd. and anr. Vs. Union of In ...

Court : Patna

..... the 1st day of april, 1988' in sub-section (1). thus, by virtue of this amendment, section 115j ceased to be operative from april 1, 1991, i.e., from the assessment year 1991-92 onwards. in other words, section 115j remained operative for ..... for the assessment year 1988-89 the company claimed that the amount was not taxable. the amount was, however, taxed in view of the provisions of section 28 of the act as amended by the finance act, 1990 (with effect from april 1, 1967), and accordingly the intimation was issued. the application filed by the assessee under ..... shall for the purposes of this section prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts ii and iii of schedule vi to the companies act, 1956 (1 of 1956).' 12. by the finance act, 1990, the words 'but before the 1st day of april, 1991' were inserted after the words ' .....

Mukesh Kumar and ors. Vs. Commissioner of Income-tax and ors.

Court : Patna

..... of one hundred and twenty days of the receipt of communication from the settlement commission in case of all applications made under section 245c on or after the date on which the finance (no. 2) bill, 1991, receives the assent of the president and if the commissioner fails to furnish the report within the said period, the ..... so far as they relate to any matters other than those before the settlement commission.(5) omitted by the finance act, 1987, with effect from june 1, 1987.(6) omitted by the finance act, 1987, with effect from june 1, 1987.(7) the settlement commission shall, subject to the provisions of this chapter, have power to regulate its ..... before the income-tax appellate tribunal. while the appeal was pending the income-tax department filed a complaint against the assessee for the offence under section 277 of the act and other sections of the indian penal code with regard to the assessment year 1963-64. the appeal was finally decided in favour of the assessee regarding .....

Mukesh Kumar and ors. Vs. Commissioner of Income Tax and ors.

Court : Patna

..... so far as they relate to any matters other than those before the settlement commission.(5) omitted by the finance act, 1987, w.e.f. 1st june, 1987.(6) omitted by the finance act, 1987, w.e.f. 1st june, 1987.(7) the settlement commission shall, subject to the provisions of this chapter, have power to regulate its own procedure and the ..... again re-examined and the final order has to be passed after taking into consideration the materials referred to in sub-s. (4) of s. 245d of the act. sec. 245f of the act provides with regard to the powers and procedure of the settlement commission. sub-s. (1) of s. 245f provides that in addition to the powers conferred on ..... twenty days of the receipt of communication from the settlement commission in case of all applications made under s. 245c on or after the date on which the finance (no. 2) bill, 1991, receives the assent of the president and if the cit fails to furnish the report within the said period, the settlement commission may make the order without .....

industrial Packers and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (1995)52ITD1(Pat.)

..... bench of the tribunal in the case of rapel (supra) in coming to a conclusion that the explanation (ba) below section 80hhc was clarificatory and applicable retrospectively from 1-4-1986 although the finance (no. 2) act, 1991 made itself applicable retrospectively from 1-4-1987 only and not 1-4-1986.14. we hold that the circumstances of ..... overstated. it was only to remove the anomaly that explanation (ba) was inserted by the finance (no. 2) act, 1991 retrospectively. however, due to an oversight, the date from which 'total turnover' became relevant for the purpose of computation of deduction under section 80hhc was taken to be 1-4-1987 and not 1-4-1986. the patna high ..... the present case justify amply a similar view with respect to section 29 of the act. this view is further reinforced by the non .....