Court : Gujarat
Reported in : (1981)20CTR(Guj)90; [1981]127ITR65(Guj)
..... a common account; (vii) the overall control of the board of the directors over all the businesses, common ownership of the various businesses, common source of finance, consolidation of accounts and common assessment proceedings in different years were factors of no material importance; (viii) even in the case of a limited company, there ..... were available for set off against the profits of the general insurance business in the relevant previous year under s. 24(2) of the indian i.t. act, 1922. it was held that interconnection, interlacing, interdependence and unity were furnished by 'the existence of common management, common business organisation, common administration, common ..... or more lines of business may be regarded as the 'same business' or 'different business' depends not upon the special methods prescribed by the i.t. act for computation of the taxable income but upon 'the nature of the businesses, the nature of their organisation, management, source of the capital and fund utilised, .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)190CTR(Guj)363; [2004]269ITR508(Guj)
..... the assessee.''(xvia) 6 1/2 per cent gold bonds, 1977, [7 per cent gold bonds, 1980], [and national defence gold bonds, 1980]'{inserted by the finance (no.2) act, 1965, w.e.f. 1.4.1965 }3.14 in view of the same, the gold bond is also exempted from the payment of wealth tax. it ..... to the assessee in exchange of gold bond.5.4 the learned counsel has invited my attention to the communication dated 22nd september, 1980, issued by ministry of finance, department of economic affairs, new delhi title press communique, national defence gold bonds, 1980, particularly para 9 of the said communication which reads as under:'no capital ..... income-tax vs . east india charitable trust reported in : [1994]206itr152(cal) particularly on page 164 the court observed as under:'the wealth-tax act defines 'asset' in a similar vein as the income-tax act defines 'capital assets'. the assets both for wealth-tax and the income-tax acts, barring the specified exclusions, include property of every description, movable .....
Tag this Judgment!Court : Gujarat
Reported in : (1993)115CTR(Guj)486; [1994]210ITR797(Guj)
..... therein as enunciated by the above supreme court decision will be equally applicable in construing the scope and content of the revisional power under section 264 of the act. it further held that the power conferred under section 264 is not limited to cases where there is an erroneous order passed by the subordinate authority. the ..... the income-tax officer or the appellate authority. as the assessee's request for rectification was rejected, the assessee preferred a revision application under section 264 of the act. that application was rejected on the ground that 'it cannot be said that the quasi judicial powers of the commissioner of income-tax under section 264 are ..... counsel for the petitioner is that the commissioner has dismissed the revision application filed by the petitioner on an erroneous view of section 264(4) of the act. he submitted that the claim which the petitioner had made in the revision application was not the subject-matter of assessment either by the income-tax officer .....
Tag this Judgment!Court : Gujarat
Reported in : [1966]17STC133(Guj)
..... in the following terms : 'suit-cases, attache cases and despatch cases.' the expression 'suit-cases' in this entry has not been defined anywhere in the bombay sales tax act, 1959, and it must, therefore, be construed as understood in ordinary parlance. it is a well-settled principle of construction of words used in a legislative enactment that since ..... , covered by the residuary entry 22 of schedule e which applied to all kinds of goods not specified in any entry in any of the schedules of the act. the deputy commissioner of sales tax negatived the contention of the applicants and held that the word 'suit-cases' was sufficiently wide to include steel trunks sold by ..... business under a bill bearing no. 03825 and dated 17th august, 1961, and submitted an application to the deputy commissioner of sales tax under section 52 of the act for the determination of the sales tax payable on the sale of the said goods. the applicants contended before the deputy commissioner of sales tax that the steel .....
Tag this Judgment!Court : Gujarat
Reported in : [1968]69ITR1(Guj)
..... force during the relevant previous year for the bye-laws annexed to the statement of the case. 5. proceeding further with the examination of the scheme of the act, chapter iv contains provisions conferring authority on the central government to prohibit certain classes of forward contracts. section 15, sub-sections (1) and (4) enact : '15 ..... viscount haldane, delivering the opinion of the privy council, also said to the same effect while construing the canadian income tax law in canadian minister of finance v. smith, where the question was whether profit made from a business of illicit traffic in liquor carried on by the tax-payer in ontario contrary ..... section 2(n) defines 'transferable specific delivery contract' as meaning 'a specific delivery contract which is not a non-transferable specific delivery contract'. 4. chapter iii deals with the subject of recognised associations and contains a fasciculus of sections dealing with recognition of associations and the power to make rules and bye- .....
Tag this Judgment!Court : Gujarat
Reported in : 2008(120)ECC231; 2008(156)LC231(Gujarat); 2008(232)ELT600(Guj)
..... 196.vii. usha micro process control ltd. v. cc reported in .viii. jayswals nico ltd. v. cc reported in 2006 (195) elt 142 (sc).ix. uoi v. kamlakshmi finance corporation ltd. reported in air 1992 sc 771.x. k.l. tripathi v. state bank of india reported in : (1984)illj2sc .discussion8. taking into consideration the rival submissions of both ..... /s. jhunjunwala vanaspati ltd. (hereinafter referred to as 'the respondent') imported a consignment of crude palm oil-non-edible grade/industrial grade falling under chapter heading no. 1511 90 90 of the customs tariff act, 1975. out of the same, the respondent sold quantity of 500 mt to m/s. magpie overseas company, delhi (hereinafter referred to as ' ..... following decisions:i. agrim sampada ltd. v. uoi reported in 2004 (168) elt 15.ii. savtri electronic c. v. cc reported in .iii. dr. prasad v. cc reported in 1994 (73) elt 93.iv. worldwide east pvt. ltd. v. cc reported in 2001 (136) elt (88).v. telerama (india) ltd. v. cc reported in .vi. audio vision .....
Tag this Judgment!Court : Gujarat
Reported in : (2001)165CTR(Guj)620; [2001]252ITR354(Guj)
..... december 28, 1989, as invalid return, exercising powers under section 139(9) of the income-tax act.5. it would be expedient, at this stage, to refer to the relevant, provisions of section 139 of the income-tax act, provided in chapter xiv, prescribing procedure for assessment and in relation to the return of income.'139. (1) every ..... person, if his total income or the total income of any other person in respect of which he is assessable under this act during the previous year exceeded the maximum amount ..... remotely warrant interference of this court. nothing has been spelt out for the exercise of discretion by the assessing officer under section 139(9) of the income-tax act and the exercise of discretionary power under section 264(1) of the respondent is in any way influenced by extraneous or hostile consideration. on the contrary, the .....
Tag this Judgment!Court : Gujarat
Reported in : (2006)2GLR925
..... nothing on the record which would indicate that reason to belief formed by pi mr. k. c. chudasama, that the accused had committed offence punishable under chapter v of the act in public place, was arbitrary, capricious or whimsical. the circumstances brought on record are such creating a cause to believe by which chain of probable reasoning leading ..... view of the information conveyed to him by pi mr. rathod, he had every reason to believe that the accused had committed an offence punishable under chapter iv of the act and, therefore, he was authorised to detain, search and arrest them. as the search and seizure of psychotropic substance had taken in a public place, this ..... was contended that pi mr. k. c. chudasama is an officer of police department which is mentioned in section 42 of the act, and as he had reason to believe that an offence punishable under chapter iv was committed, he was entitled to search and detain the accused in public place and, therefore, the provisions of section 43 .....
Tag this Judgment!Court : Gujarat
Reported in : (1996)135CTR(Guj)409; [1996]222ITR27(Guj)
..... article 226 of the constitution of india, has challenged the issuance of notice under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act'), at annexure 'j', which is dated december 28, 1994. the assessing officer had reason to believe while assessing the case of the assessee for the assessment year 1989-90 ..... that order was passed, the impugned notice under section 148 has been issued on december 28, 1994, which is under challenge. 2. it appears that in respect of foreign currency loan obtained to finance machinery installed in 1987-88 assessment year, liability on repayment increased during the year by rs. 1,83,88,188 on account of ..... all material facts necessary for assessment for the relevant year, the notice could not have been issued. 5. with the affidavit-in-reply, reasons dated december 19, 1994, passed by the deputy commissioner of income-tax are placed on record. it is very clear from the reasons that four years have lapsed and, therefore, permission of .....
Tag this Judgment!Court : Gujarat
Reported in : [1998]92CompCas692(Guj); (1995)2GLR1619
..... secured creditors. (xi) one another objection was raised by mr. h. v. chhatrapati, learned counsel appearing for the industrial finance corporation of india. the submission is that by the proposed scheme the share capital of the mill company is sought to be ..... to resort to self-help to restore the last source of their butterless bread. their pens are quivering to write a new chapter in the saga of workers' struggle for finding their true 'identity' and 'dignity'. their dream is coming true with the ..... company shall be convened and held at the gujarat chamber of commerce hall, ashram road, ahmedabad, on july 23, 24, 1994, at 11 a.m. for the purpose of considering and if thought fit approving with or without modifications the scheme of ..... directions to convene meetings of the members, creditors and the employees of the company in liquidation under section 391 of the companies act, 1956. affidavit in support of the summons is filed. 2. from the averments made in the affidavit in support of .....
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