Court : Gujarat
Reported in : [2006]286ITR129(Guj)
..... the apex court in b.r. ltd. (supra) though the controversy brought before the court related to provisions of section 24(2) of the indian it act, 1922, prior to its amendment by the finance act, 1955, the apex court has categorically stated that 'even under the amended provision, the consideration whether in the year of profit the assessee was carrying ..... sent it for processing and after having it processed sold the same in the open market. therefore, the assessee was not entitled to benefit under section 72 of the act to carry forward and set off the accumulated losses pertaining to textile unit which had been sold off,5. in the light of the aforesaid fact situation, mr. ..... 72(1)(i) of the act stipulates that for any assessment year, if the net result of the computation under the head 'profits and gains of business or profession' is a loss, the whole loss (subject to other provisions of chapter vi) be carried forward to the following assessment year and shall be set off against the profits .....
Tag this Judgment!Court : Gujarat
Reported in : (2000)4GLR3309
..... to operate the system. thus, it cannot be used as a telephone even between two separate licence holders.chapter v of the finance act, 1994 refers to service tax. definition is given in clause 65 which reads as under:.65. definitions.in this chapter, unless the context otherwise requires.(41) 'service tax' means tax leviable under the provisions of this ..... chapter....so far as telephone is concerned, it is required to have a look at sub-clauses (47) and (48 ..... parlance, is not understood as a telephone. it is used as a wireless and wireless is not subject to tax. part 12 of the constitution refers to finance, property, contracts and suits. article 265 reads as under:265. taxes not to be imposed save by authority of law: no tax shall be levied or collected .....
Tag this Judgment!Court : Gujarat
Reported in : [2010]24STT121
..... the newly added provision, the said movement of goods was not a taxable event attracting levy of export duty under the provisions of the said act. the entire chapter has been omitted by the finance act, 2007 with effect from 11-5-2007 and, therefore, the aforesaid movement of goods is no longer a taxable event under the said ..... during the above mentioned periods, provided that the provisions of the said chapter and other chapters shall apply to goods admitted to a special economic zone but in the event ..... provides for provisional assessment of duty.21. mr. champaneri has further submitted that chapter x-a incorporating special provisions relating to special economic zone were enacted by act 20 of 2002 effective from 11-5-2002 and have been omitted vide section 99 of the finance act, 2007 with effect from 11-5-2007. section 76b as was operative .....
Tag this Judgment!Court : Gujarat
Reported in : 2003(86)ECC485; (2003)1GLR128
..... years. when adversial proceeding has been initiated by a government department, than at what point of time, a citizen may think that a chapter initiated against him can be treated as a closed chapter. for the sake of argument, the say of the department is accepted that the competent authority may issue such notice even after several ..... the proceedings itself is bad, and therefore, subsequent proceeding cannot sustain. 21. in the case of suthar amrutlat parsotamdas v. rabari vastabhai sartanbhai and ors., reported in 1994 (2) glh (uj-9) 21, this court had interfered in the proceedings initiated by the competent authority in exercise of powers under section 84c of the bombay tenancy ..... similar ratio is found in the decision in the case of ram chandra v. union of india, reported in 1994 (1) scc 44. 26. the reference may not be of much relevance but under the income tax act, considering the contingencies, the reasonable period for re-opening the assessment and an assessee can be served with a .....
Tag this Judgment!Court : Gujarat
Reported in : AIR2008Guj94; (2008)3GLR1963; LC2008(2)395; 2008(38)PTC658(Guj)
..... from the moment of its publication even though the directive itself required implementation later. accordingly, the interpretation of section 10(6) of the trade marks act 1994 was not qualified by the directive.4. the test as to whether the advertisements were misleading was whether they were misleading to the average consumer.5. ..... relied on sections 10(6) (use permitted to identify proprietor's own goods) and 11 (2) (b) (descriptive use permitted) of the trade marks act, 1994. the claimant argued that the defendant's use was not in accordance with honest practices in industrial and commercial matters, that section 11(2)(b) did not ..... on malicious falsehood. on the trade mark infringement claim, the plaintiffs argued that this comparative advertising fell outside the realm of section 10(6) trade marks act 1994 (honest commercial practices) and took unfair advantage of the distinctive character and repute of the vodafone mark. the defendants denied dishonesty and unfair advantage. while .....
Tag this Judgment!Court : Gujarat
Reported in : [1995]217ITR20(Guj)
..... deduction under section 80k and on the remaining amount, deduction as provided under section 80m(1) shall be allowed : 6. section 80a is added by the finance act (no. 2) of 1980 with retrospective effect from 1st april, 1968, and it is merely an explanatory section which only provides that deduction under section 80m ..... deduction under that section shall be computed with reference to the income by way of such dividends as computed in accordance with the provisions of this act (before making any deduction under this chapter) and not with reference to the gross amount of such dividends.' '80m. (1) where the gross total income of an assessee, being ..... dividend income. however, in this context, learned counsel, mr. mehta, submitted that the legislature has specifically used the phrase 'before making any deduction under this chapter' mentioned in brackets to indicate that section 80k(1) is to be operated without making any deduction including the deductions as provided in section 80m(2). in our .....
Tag this Judgment!Court : Gujarat
Reported in : (2003)179CTR(Guj)266; [2003]259ITR526(Guj)
..... ) unless the context otherwise requires, 'actual cost' means the actual cost of the asset to the assessee, . . . explanation 8 to clause (1) which was inserted by the finance act, 1976, with effect from april 1, 1975, reads as under :'explanation 8.-- for the removal of doubts, it is hereby declared that where any amount is paid or is payable ..... any allowance like investment allowance, depreciation, etc. for instance, in the illustration given by the revenue, if the asset was purchased for 1,44,000dollars in the year 1994 and the cost was paid by taking loan from a financial , institution spread over a period of 12 years and if any fluctuations in the foreign currency takes place ..... the asset by taking loan from a financial institution repayable over a period of 12 years. say, there was a fluctuation in the exchange rate with effect from december 20, 1994, making it rs. 34 per one dollar, i.e., in the same accounting year, and the assessee had paid the instalments of $ 1,000 each on january 1 .....
Tag this Judgment!Court : Gujarat
Reported in : [1992]194ITR659(Guj)
..... refund, was inserted by the finance act, 1968, with effect from april 1, 1968, and sub-section (1) was substituted with effect from april 1, 1976, by the taxation laws (amendment) act, 1975. under the said provision, where the assessee claimed that the tax plaid or deemed to have been paid under chapter xvii-b or chapter xvii-c exceeded the tax ..... him to commence a proceeding even though at the date when he issued notice, it was within the period provided by that amending act. the supreme court, found that the legislature had given to section 18 of the finance act, 1956, a limited retrospective operation, that is, up to april 1, 1956, only and, in the absence of any ..... commence a proceeding for assessment against the assessee as an agent of a non-resident party under the income-tax act, before it was amended, ended on march 31, 1956. though, under the amending act, by section 18 of the finance act. 1956, authority was conferred upon the income-tax officer to assess a person as an agent of a .....
Tag this Judgment!Court : Gujarat
Reported in : [1982]51STC88(Guj)
..... fabrics. we are of the opinion that having regard to the enlarged definition of the term 'cotton fabrics' in item 19 as effected by the finance act, 1969, as well as by the amending act of 1980, tarpaulins must be held to be cotton fabrics. if that is the correct classification, and we have no doubt in our mind about ..... fast developing economy are manifold and it is quite common now to find 'textiles' being used even for industrial purpose. if we look at the customs tariff act, 1975, we find in chapter 59 occurring in section xi of the first schedule that there is a reference to, 'textile fabrics' and textile articles, 'of a kind commonly used in ..... machinery or plant' and clause (4) of that chapter provides that this expression shall be taken to apply inter alia to 'woven textile felts ...... of a kind commonly used in paper-making or other machinery ......' this reference in .....
Tag this Judgment!Court : Gujarat
Reported in : [1975]99ITR179(Guj)
..... 's case had not been in accordance with the intentions of the legislature, it is reasonable to suppose that the necessary amendment would have been made in some subsequent finance act. in these circumstances, i think that this is plainly a case in which the principle stare decisis should be applied, and i would, therefore, hold that, when ..... the assured. in burglary insurance it is the property exposed to the peril. similarly, in fire insurance the building insured is the subject-matter of insurance'. 23. in chapter 5 on insurable interest at page 19 the said learned author observed : 'where, as in the case of personal accident insurance and most branches of property insurance, the ..... been invited by the learned counsel for the revenue to the observation made by e. r. hardy ivamy in his aforesaid book on general principles of insurance law in chapter 44 on 'the assignment of the proceeds of the policy' at page 399, which reads as under : 'in the case of life policies, what is commonly called .....
Tag this Judgment!