Judgment Search Results Home > Cases Phrase: finance act 1992 section 102 amendment of schedule iii Court: allahabad Page 1 of about 139 results (0.157 seconds)

A. H. Wheeler and Co. Private Ltd. Vs. Income-tax Officer, Allahabad.

Court : Allahabad

Reported in : [1964]51ITR92(All)

..... this is a writ petition under article 226 of the constitution directed against the orders dated the 17th july, 1962, under section 35 of the income-tax act, 1922 (hereinafter referred to as the act), withdrawing the super-tax rebate under clause i (c) to the second proviso to paragraph d of part ii of the first schedule of the finance act of 1958.the material facts leading up this petition are these : the petitioner is a company duly registered with effect from the 31st december, 1953. ..... commissioner of income-tax, where it was pointed out that the provisions of the first schedule, part ii, paragraph d of the finance act of 1956, which is in pari materia with the relevant finance acts of 1958-59, was not at all analogous to the provisions of the finance act of 1951 which their lordships of the supreme court were called upon to consider in commissioner of income-tax v. ..... commissioner of income-tax and the decision of the supreme court condensed in taxation of august, 1960, (since reported in 40 itr 189), that the provisions of the finance act of 1958-59 in regard to the reduction of super-tax rebate was on par with the provision of clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act of 1951 whereby an additional income-tax was charged in respect of dividends distributed in excess of rs. .....

A.H. Wheeler and Co. P. Ltd. Vs. Income-tax Officer, a Ward

Court : Allahabad

Reported in : [1973]88ITR231(All)

..... it appears that in the rectification proceedings before the income-tax officer it was contended that the relevant provisions of the two finance acts were in pari materia with the provisions of clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act, 1951, and that, as that provision had been held invalid by the bombay high court in khatau makhanji spinning and ..... this is a case where the income-tax officer omitted to apply the relevant provisions of the finance acts of 1958 and 1959, and we are satisfied that the omission constitutes a mistake apparent from ..... it is said, a debatable question whether the finance act, 1958, and the finance act, 1959, warranted 'the reduction of super-tax rebate ..... on july 17, 1962, the income-tax officer made two separate orders under section 35 of the act for the two assessment years purporting to rectify the mistake apparent from the ..... the first contention is that in regard to the case of the assessment year 1959-60, the order under section 35 of the act was made after the assessment order had been modified in appeal and it was not open to the income-tax officer to rectify an assessment order after it had been ..... other contention is that the income-tax officer acted outside the scope of section 35 of the act inasmuch as there was no mistake apparent from ..... the income-tax officer issued a notice under section 35 of the act for each assessment year pointing out that there was an error apparent on the record which .....

income-tax Appellate Tribunal Vs. B. Hill and Co. (P.) Ltd.

Court : Allahabad

Reported in : (1982)29CTR(All)301; [1983]142ITR185(All)

..... the assessee is a subsidiary, was not a company in which the public are substantially interested within the meaning of section 2(18) of the income-tax act, 1961, and, consequently, not entitled to the concessional rate of income-tax as provided in clause 1(a)(1)(ii) of the proviso to paragraph f of part i of the first schedule to the finance act, 1968 (3) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was ..... the assessee is a subsidiary, was not a company in which the public are substantially interested within the meaning of section 2(18) of the income-tax act, 1961, and consequently not entitled to the concessional rate of income-tax as provided in clause 1(a)(1)(ii) of the proviso to paragraph f, part i of the first schedule to the finance act of 1966 (3) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal ..... which the assessee is a subsidiary was not a company in which the public are substantially interested within the meaning of section 2(18) of the income-tax act, 1961, and consequently not entitled to the higher rebate of income-tax as provided in clause 1(b)(ii)(b) of the proviso to paragraph f of part i of first schedule to the finance act of 1965 (3) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal ..... schedule of the finance act, 1964 (3) whether, on the facts and in the circumstances of the case, the higher rebate granted under clause ( ..... 102 ..... 102 .....

Ved Vyas Chawla Vs. the Income Tax Officer 'C' Ward and Anr.

Court : Allahabad

Reported in : AIR1965All37; [1965]57ITR749(All)

..... therefore, income chargeable under the head 'salaries' by implication will not be subjected to additional surcharge which came to be levied under the finance act of 1963 under section 2(a)(i) and (ii) for the first time. ..... question to be considered whether additional surcharge or additional tax which could have been levied under article 271 can be levied only on a particular class and not on the public in general, the argument is that in the finance act of 1963, which is the impugned provision, the salaried class of persons has been excluded from the application of the provisions for the levy of surcharge. ..... the relevant portion of section 2 sub-clause (2) of the finance act 1963, reads; '(2) in making any assessment for the assessment year commencing on the 1st day of april, ..... employees have always, at least since the income-tax act of 1922, been taxed on the basis' of the finance act current during the year when the salary is received and not on the basis of the finance act enacted after the year has come to a close. ..... the compulsory deposit scheme applies to a well defined class and the finance act of 1963 cannot be said to place any restriction on the free exercise of any profession, trade or occupation. ..... the charge of discrimination, therefore, cannot legitimately be levied against the finance act of 1963 in the matter of 'additional surcharge' as the classification is neither arbitrary nor capricious; it is a perfectly understandable, intelligible and reasonable classification. .....

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

Court : Allahabad

Reported in : [1977]107ITR816(All)

..... it was contended that the assessee was an industrial company within the meaning of section 2(7)(d) of the finance acts of 1966 and 1967 and, therefore, its income was taxable at the concessional rate of 55 per ..... question for our opinion : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was legally correct in holding that the assessee-company was an 'industrial company ' within the meaning of section 2(7)(d) of the finance acts of 1966 and 1967 and was, therefore, entitled to concessional rate of taxation ' 2. ..... this being so, the assessee-company would be an industrial company as defined in section 2(7)(d) of the finance acts of 1966 and 1967, and, therefore, entitled to the concessional rate of tax. ..... the 'processing of goods ' as used in section 2(7)(d) of the finance acts need not be of such a nature as to result in the manufacture of new ..... may be noted that in section 271(1)(c), quoted above, both the words ' manufacture ' and ' process ' were used as are used in the present section 2(7)(d) of the finance acts in hand. ..... to the question referred to us depends upon the interpretation to be put on the word 'industrial company' as defined in section 2(7)(d) of the finance acts of 1966 and 1967. ..... appellate assistant commissioner of income-tax held that the activities of running the cold storage falls in the category of processing of goods and, as such, the assessee-company was an industrial company as defined in section 2(7)(d) of the finance acts. .....

Allahabad District Co-operative Bank Ltd. Vs. Union of India (Uoi) and ...

Court : Allahabad

Reported in : [1972]83ITR895(All)

..... section 2 of the finance act of 1963, which is the relevant finance act for our purposes, provides for the charge of income-tax at the rates specified in part 1 of the first schedule ..... we are, therefore, of opinion that the additional surcharge calculated in the manner provided in the first schedule to the finance act of 1963 is nothing but an amount which goes to constitute the entire income-tax which is payable ..... it will thus be seen that the only effect of making a provision like that of section 81 of the act is that the income-tax authorities will have to compute the income-tax in respect of the total income of the petitioner (including surcharge and the additional surcharge calculated in the manner provided in the finance act of 1963) and from that an amount equal to the income-tax calculated at the average rate of income-tax on the amount of which no ..... the attention of the court to the heading ' surcharge on income-tax ', as contained in the first schedule to the finance act of 1963, under which the additional surcharge was being computed. ..... iii while computing the total income of the previous years of any person the incomes of the types mentioned in section 10 of the act are not to be included no such provision has been made in section 81 of the act ..... this chapter is ' incomes forming part of the total income on which no tax is payable ', as distinguished from the heading in chapter iii of the act, which provides for incomes which do not form part of total income of a person. .....

Ms Md Overseas Limited Vs. Director General of Income Tax and Others

Court : Allahabad

..... the position of assessment in post finance act 1995 is as follows: (a)in case a search is valid then assessment for the block period under chapter xiv b or assessment for six previous assessment years under section 153a to 153c can be done; (b)if the search is invalid then neither the block assessment under chapter xivb nor assessment of previous six assessment years under section 153a to 153c can be done { ..... and performing functions; (ii)sub-section (2) of section 120 {section 120(2)} of the it act provides that the board may further authorise any income-tax authority to issue order for exercising power, functions by all or any of income-tax authorities, who are subordinate to him; (iii)sub-section (3) of section 120 {section 120(3)} of the it act provides that while issuing the direction under section 120(1) or (2), among the ..... section (2) of section 24 {section 24(2)} of the rti act also empowers the central government to amend the second schedule ..... it is mandatory to record the reasons to believe for authorising the search; (ii)whether the dit(i)-kanpur had jurisdiction to authorise the search; (iii)whether the search was invalid as no prior approval of the development commissioner was taken under section 22 of the sez act; (iv) whether the petitioner is entitled to be informed about the information/ material or reasons to believe for authorising search before the question ..... post finance act 1995 position changes by finance act, 1995 (iii) the finance act 1995 inserted chapter ..... 102 .....

Doctors X-ray and Pathology Institute Ltd. Vs. Commissioner of Income- ...

Court : Allahabad

Reported in : [1961]42ITR185(All)

..... the contention of the assessee that it was not liable to pay additional income-tax on the so called excess dividends was not accepted by the tribunal and hence this reference.we are concerned with the finance act, 1951 and paragraph b of the first schedule reads :'b in the case of every company -ratesurchargeon the whole of total incomefor annas in the rupeeone twentieth of the rate specified in the perceding clumn:provided that in the case of a company which ..... section 2 of the finance act prescribes the rates of income-tax by its first schedule and by the seventh sub-section of that section provides :for the purposes of this section and of the rates of tax imposed thereby, the expression total income means total income as determined for the purposes of income-tax or super-tax as the case may be, in accordance with the provisions of the income-tax act...it is thus clear from this that if there is no income, there is no question of applying a rate ..... 4,276 under clause (ii) of the the proviso to section b of part 1 of schedule 1 of the indian finance act, 1951, in determining the income-tax payable by the company for the assessment years 1951-52 and 1952 ..... the income-tax officer treated this amount as excess dividend and levied additional income-tax purporting to act under paragraph b of part 1 of the first schedule to the indian finance act, 1951.for the assessment year 1952-53 (the previous year being the calendar year 1951), the assessee company was found to have made a profit .....

thermal Contractors Asscn. Vs. Dir. Rajya Vidyut Utpadan Nigam Ltd.

Court : Allahabad

Reported in : (2006)205CTR(All)384; 2006[4]STR18

..... it has further held that under section 68 of the finance act, 1994, as amended by the finance act 1997, read with rule 2(1)(d)(ix) of the service tax rules 1994. ..... according to the petitioner, their members also entitled for reimbursement of the amount of service tax, which they have to pay under the provisions of section 67 and 68 of the finance act, 1994 read with rules 6 of the service tax rules, 1994.3. ..... sri ravi kant, learned senior counsel submitted that from the reading of various provisions of the finance act, 1994 relating to imposition of service tax and the rules framed thereunder, the members of the petitioner association are under the obligation to pay service tax to the union of india, and deposit the tax, non ..... and it is registered under the societies registration act, 1860. ..... (iii) issue a writ order or direction in the nature of mandamus directing the respondent no. .....

Commissioner of Income-tax Vs. Malhotra Cold Storage and Fruit Industr ...

Court : Allahabad

Reported in : (1996)132CTR(All)345; [1996]219ITR131(All); [1996]86TAXMAN1(All)

..... in view of the amendment made by the finance act, 1964, the case on hand will not be governed by the case of anwar ali : [1970]76itr696(sc) , but by a decision of the ..... to making the task of the revenue less difficult parliament by the finance act, 1964, omitted the word 'deliberately' in clause (c) and added ..... evidence to show that the deposits represented the concealed income of the assessee in the relevant year : that disallowance of the claim of the revenue expenditure will not attract the explanation to section 271(1)(c) of the act and that rejection of a claim of revenue expenditure does not mean that there was concealment or that inaccurate particulars were furnished by the assessee. 10. ..... from these authorities it is clear that after the finance act, 1964, the rule regarding burden of proof enunciated in anwar ali's case : [1970]76itr696(sc) ..... [1987]165itr14(sc) , in which the supreme court explained that under the law, as it stood prior to the amendment of 1964, the onus was on the revenue to prove that the assessee had furnished inaccurate particulars or had concealed his ..... in view of the aforesaid legal position emerging from the amended section 271(1)(c), read with the explanation, the burden, no doubt, shifted to the assessee in the case on hand, inasmuch as a return of loss was filed and the total assessed income ..... to9,300(ii)expenditure of capital nature debited to profit and loss account23,390(iii)out of labour charges, donation and income-tax debited to profitand loss .....