Court : Kolkata
Reported in : AIR1960Cal646,66CWN304
..... respect to tax on income other than agricultural income. parliament enacted the finance act, 1950 which provided for the imposition of income-tax for the year beginning 1-4-1950. section 3 of the finance act made certain amendments in the indian income-tax act, with effect from that date. the most important amendment is the substitution ..... when it was published in 1955, nobody considered it as a notification affecting lessees and sub-lessees of mines or minerals except as provided in chapter iv of the act. they could not be expected to anticipate that three years after the issue of the notification, it would be made applicable to them with ..... an exclusive subject matter of legislation by parliament. the state legislature is, therefore, not competent to pass a law affecting such matters and the provisions of chapter iv and particularly of sections 28 and 29 are void because such provisions infringe the rights of parliament and are inconsistent with statutes, rules, regulations and .....
Tag this Judgment!Court : Kolkata
Reported in : [1968]69ITR847(Cal)
..... an order determining the amount of super-tax payable by the company under that section. it was held that an order under section 23a after its amendment by the finance act, 1955, was an order of assessment to which the period of limitation prescribed in section 34(3) applied, and such an order could not, therefore, be made ..... an order under section 23a should not be made, could not be issued by the respondent no. 1.mr. sen next argued that the finance act of 1955 amended section 23a of the act, and after this amendment the section itself became a charging section, which empowered the income-tax officer to make an order that the assessee should ..... . reliance was placed on this case for the observations of the supreme court that the expression 'assessment' used in chapter iv of the act did not merely mean computation of income and that this expression was used in the act with different connotations. i shall, however, refer to this decision in another connection, later in this judgment.the next .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1968Cal1,71CWN719
..... in nageswara rao v. a p s.r t cor porafion : air1959sc308 . that was a case under the motor vehicles act, 1939 as amended by act 100 of 1956. the amending act inserted a new chapter iv-a providing for the state transport undertaking running the business to the exclusion, complete or partial, of all other persons doing ..... court will not interfere : [1950]1scr869 , : 1953crilj1621 , budhan choudhury v. state of bihar : 1955crilj374 and : [1961]43itr393(sc) the avowed object of fhe said act is to avoid the long drawn procedure by way of a suit in respect of eviction of unauthorised persons from government property. putting government property on a special footing has ..... section 124), in the public demand recovery act, (section 4 read with sections 9 and 10) in the bengal finance sales tax act, 1941 (section 14(3)) and in the land acquisition act (sections 4, 5a and 6), thika tenancy act (w. b. act 11 ot 1949) the bengal municipal act, and the calcutta municipal act 1951 under sec 12(1) of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1971]82ITR513(Cal)
..... in that case certainly it would not be dividend either in the traditional meaning of the word or even in the extended meaning of it under the income-tax act or the finance act.21. it will be appropriate at this stage to make a reference to the decision of the supreme court in punjab distilling industries ltd. v. commissioner of ..... of electricity, then without anything more about accumulated profits being found as a fact, could this reduction of capital be dividend within the meaning of the income-tax act or the finance act. for instance, if a company is started by subscription to shares and immediately on allotment of shares it is found that a good part of the business of ..... in proviso (i) or paragraph d of the finance act. paragraph d of part ii of the finance (no. 2) act, 1957, deals with the case of rates of super-tax in the case of a company. the subject there is super-tax on a company. supertax is provided in chapter ix of the income-tax act* 1922, of which section 55, inter alia, .....
Tag this Judgment!Court : Kolkata
Reported in : 1988(18)ECC180
..... was that of mc.nicol and anr. v. pinch, (1906) 2 kb 352, where excise duty was levied on the concerned goods for manufacture of saccharin under the english finance act of 1901 and on challenges thrown to such levy it was held by the majority judgment of the court of appeal, that the duty in question, could not be levied ..... notice. while on the question and submissions of double taxation, reference was made by him to maxwell on the interpretation of statutes (twelfth edition) and more particularly to the chapter [which] deals on the question of 'construction most agreeable to justice and reason' and pointed out that in determining either the general object of the legislature, or the meaning ..... dated june 25, 1977 on the basis that brass scrap is a master alloy and also indicated that insofar as the terms of heading no. 74.01/02 in chapter 74 of section 2 are concerned, the primary conclusion is that brass scrap is not a master alloy. it was also observed by the supreme court that the brass .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR572(Cal)
..... contrary, i would expect the sub-section to being by saying that 'subject to the provisions of sections 86 and 87 of the finance act 1982' the gains were to be computed in accordance with chapter ii.the second indication is that, by the terms of section 86(4), the indexation allowance is to be set against the unindexed ..... 28 which provides :'(1) the amount of the gains accruing on the disposal of assets shall be computed in accordance with this chapter, and subject to the other provisions of this act [and sections 86 and 87 of the finance act 1982]. (2) every gain shall, except as otherwise expressly provided, be a chargeable gain. (3) schedule 5 to this ..... allowed against the gain after it had been computed in accordance with chapter ii of part ii of the act of 1979, including the time apportionment provisions of paragraph 11 of schedule 5 which by statutory assumption was the gain accruing after 6 april 1965.the finance act 1985next, it is necessary to consider whether the amendments to the .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1993Cal50,(1993)1CALLT69(HC),97CWN330,1994(48)ECC152
..... need not elaborate. it is stated that the review of the policy direction was taken by the central office of the rbi that the union ministry of finance starting from 3rd january, 1989 and culminated in the circular dated 2nd april, 1990 communicating that the regional offices should strictly adhere toinstructions contained in paragraph 56 ..... of the reserve bank of india relating to release of foreign exchange to indian students for studies in foreign universities as recorded in paragraph 56 of the chapter xvi-30 of 1988 edition of the book of instructions. the learned counsel referred to three exceptions. the third exception which is the subject matter of ..... , enforcement directorate, government of india v. saroj kumar bhotika.10. in the circumstances, i hold that the reserve bank of india and also the union of india have acted in a most discriminatory and unreasonable manner by not allowing theforeign exchange to mr. pramit kumar ray, petitioner no. 2, for pursuing studies of ll.b. (hons.) .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]207ITR130(Cal)
..... , on or after the 1st day of april, 1958. (vijay mathur),director (tpl-ii).ministry of financedepartment of revenue.' 9. the aforesaid two notifications were followed by the finance act, 1989, section 26 of which provided-'26. notwithstanding anything contained in the notification of the government of india in the ministry of home affairs, no. s. o. 1028( ..... force of that provision in the area where it has been brought into force :yearno.short title(1)(2)(3)196143income-tax act, 1961195727wealth-tax act, 1957195818gift-tax act, 1958(3) the provisions of chapter xvii of the income-tax act shall be made applicable with immediate effect. (4) in the case of all assessees liable to advance tax of current ..... , to the state of sikkim from the date which was to be notified by the central government. the provisions of chapter xvii of the income-tax act which related to payment of advance tax on current income of the previous year relevant to the assessment year 1989-90 were made applicable to the .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR412(Cal)
..... clearance certificate from the income-tax department for any particular property sale.'21. he stressed the fact that the new chapter giving the central government the pre-emptive right of purchase was inserted by the finance act, 1986, in implementation of this long-term policy statement. therefore, this shows the legislative intent to make the ..... limitation rigid.22. there are other ramifications in the argument advanced on behalf of the petitioner. it has been argued that the provisions of chapter xx-c are not ..... wholesome and beneficial to the interests of such religious denomination. it is not only that any attempt on the part of the appropriate authority to act under chapter xx-c in regard to such transaction would be an impingement on the authority of the judiciary specially appointed to examine the salutariness of the transaction .....
Tag this Judgment!Court : Kolkata
Reported in : 1994(74)ELT827(Cal)
..... or public notice. however, there has been no corresponding amendment or change in the conditions, governing the grant or importation of additional licences which are contained in chapter 18, para 215 of the import policy. thus, the amendments made in the conditions governing imports under open general licence cannot apply to the importation under an ..... appellants.11. in the context and setting up of the facts and in the light of the provisions of section 3 of the imports & exports (control) act, 1947 (act xviii of 1947), the contentions of the learned counsel appearing for the parties have to be examined. it is, therefore, necessary, at this stage, to set ..... licence is a statutory document having been issued under the said control order which in turn has been framed in exercise of powers conferred under the said act. hence, the statutory conditions contained in the statutory additional import licence would govern importation of goods being imported under an additional licence. para 215 of the .....
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