Court : Andhra Pradesh
Decided on : Dec-17-1999
Reported in : 2000(4)ALD69; 2000(2)ALT541; (2000)161CTR(AP)44; [2000]242ITR472(AP)
..... said appeals are currently pending.4. the petitioner filed a declaration on 29-12-1998 under section 89 of the finance act to avail of kvs scheme in respect of the interest tax determined for assessment years 1994-95 and 1995-96. but the declaration filed by the petitioner is lodged on the ground that there are no ..... tax arrears remaining unpaid on the date of declaration as required under section 87(m) of finance act, 1998. as already observed, the commissioner is not empowered under the scheme to decide as to whether interest tax demand for the year 1994-95 and 1995-96 were illegally adjusted and set off against the refundable amount under the ..... that the declaration filed by him is lodged as there are no tax arrears remaining unpaid on the date of declaration as required under section 87(m) of finance (no.2) act, 1998.3. the petitioner-company is carrying on business of stock broking, merchant banking, registrars and share transfer agents and investment banking. the petitioner-company .....
Tag this Judgment!Court : Kerala
Decided on : Nov-10-1999
Reported in : [2000]119STC236(Ker)
..... assessing authority for a reasonable time. any assessment proceedings, which were pending before the assessing authority for an unreasonably long time on the date on which the finance act, 1993 came into force will not be saved automatically by the amendment. learned counsel for the petitioner argued that that it is only those assessments which ..... subsequently, the second proviso was amended directing that all assessments relating to the years up to and including the year 1994 shall be completed on or before september 30, 1998. this amendment was made in the finance act of 1998, which came into force on july 29, 1998. counsel for the petitioner submitted that so far ..... no justification is forthcoming from the assessing authority. hence, we are of the view that the proceedings have become stale and irrational at the time when the finance act, 1993 came into force. these proceedings were kept in cold storage not intended to be taken out.13. the next question is whether this proceedings can be .....
Tag this Judgment!Court : Mumbai
Decided on : Feb-04-1999
Reported in : [1999]237ITR472(Bom)
..... rs. 30,000 will apply in relation to all other gratuities under section 10(10)(iii) whether received from the statutory corporations or private employers. the finance act, 1974, has come into force with effect from april 1, 1975.7. in the light of the above discussion, the submissions made by learned counsel ..... a statutory corporation was equated to gratuity received by the employees of the central government, state government or local authority. section 10(10) as amended by the finance act, 1974, consists of three sub-clauses. retiring gratuities received by the employees of the central government, state government and local authority are fully exempted under sub- ..... rupees or fifteen months' salary so calculated, whichever is less ;'5. a bare reading of the above section as it stood before the amendment by the finance act, 1974, shows that gratuity payable to the employees of the government, local authority or a statutory corporation was totally exempted from payment of income-tax, whereas .....
Tag this Judgment!Court : Kerala
Decided on : Nov-27-1999
Reported in : (2000)158CTR(Ker)529; [2000]246ITR278(Ker)
..... to be computation of income in accordance with the provisions of the act. as a necessary corollary, deduction is allowable including what is covered under chapter vi-a (deductions to be made in computing the total income). it is to be noted that chapter vi-a was inserted by the finance act, 1965, with effect from april 1, 1965. section 80hhc ..... is a part of chapter vi-a. we do not find any substance in the ..... plea of learned counsel for the revenue that only deductions contained in chapter iv of the act, more particularly those contained in sections .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Oct-26-1999
Reported in : (2000)160CTR(P& H)199; [2000]241ITR567(P& H); (2000)124PLR474
..... ward no. 1 at faridabad in the state of haryana. the government of india by the finance act, 1997, introduced a scheme called the 'voluntary disclosure of income scheme, 1997' (for short 'the scheme'). it is contained in chapter-iv of the finance act consisting of ss. 62 to 78 (both inclusive). the purpose of introducing the scheme is to ..... of the voluntarily disclosed income was to be paid by the declarant and the declaration was to be accompanied by proof of payment of such tax. sec. 67 of the finance act which is relevant for our purpose is reproduced hereunder for facility of reference : '67. interest payable by declarant. - (1) notwithstanding anything contained in s. 66, ..... filed under art. 226 of the constitution is to the order dt. 21st july, 1998, passed by the cit, rohtak, under s. 67(2) of the finance act, 1997, whereby the declaration filed by the petitioner under the voluntary disclosure of income scheme 1997, was rejected. 3. the petitioner is doing business in timber and is .....
Tag this Judgment!Court : Gujarat
Decided on : Apr-16-1999
Reported in : [1999]239ITR90(Guj)
..... . 2) of 1998 which came into force w.e.f. 1st april, 1998, a scheme known as kar vivad samadhan scheme was introduced which was contained in chapter iv of the finance act of 1998 which comprised of ss. 86 to 98. the kvss provided that where any person makes on or after the first september, 1998, but on or before ..... that pending litigation or dispute is necessary condition for entering the field of the scheme. it is reflected from the provisions of s. 88 as well as 95 of the finance act of 1998. the amount to be determined under s. 88 is with reference to disputed income, disputed wealth, disputed gift, disputed chargeable expenditure, disputed chargeable interest. section 95 ..... have been raised challenging this order dt. 26th feb., 1999, rejecting the declaration and refusing to determine the amount payable under s. 88 r/w s. 90 of the finance act (no. 2) of 1998 by the designated authority as a consequence of rectification order made under s. 154 by the ao on 26th feb., 1999. 8. the first .....
Tag this Judgment!Court : Chennai
Decided on : Apr-23-1999
Reported in : (2000)158CTR(Mad)437; [1999]240ITR335(Mad)
..... , held that the hospitality expenditure would not be regarded as entertainment expenditure prior to the insertion of explanation 2 to section 37(2a) of the income-tax act, 1961, by the finance act, 1983, with effect from april 1, 1976. since the assessment year involved is 1974-75, the prior law would apply and following the said decision of ..... by way of subscription to the club is an allowable expenditure. 8. the gujarat high court in the case of gujarat state export corporation ltd. v. cit : [1994]209itr649(guj) , held that the entrance fee paid to a sports club is an allowable revenue expenditure as the object of the expenditure was entertaining the indian and foreign ..... w. s. (india) ltd. v. cit : [1994]208itr649(sc) , and the apex court held that the maintenance expenditure incurred by a company for the car provided to the director of the company should be regarded as perquisite subject to the ceiling provided in section 40a(5) of the act. we are of the opinion, that decision of the .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Aug-17-1999
Reported in : AIR1999SC3097; 2000(1)BLJR178; JT1999(6)SC120; 1999(5)SCALE54; (1999)7SCC76; [1999]115STC358(SC)
..... levy of purchase tax. so far as the activity of levy of purchase tax on sugarcane is concerned, both the acts, namely, the finance act and the sugarcane act operate in the same field. therefore, the sugarcane act being a special act pertaining to all aspects of the control of sugarcane as well as levy of purchase tax, the same will have to ..... provides for levy of purchase tax on sugarcane and it is not applicable to levy of purchase tax on any other goods which are otherwise taxable under the finance act. the sugarcane act also provides for regulation of production, supply and distribution of sugarcane. thus, it is an enactment which is specifically meant for the control of the activities of ..... purchase of goods. if it is not so, the state of bihar could not have imposed the levy of purchase tax under the sugarcane act.7. the object of the finance act reads thus:an act to consolidate and amend the law relating to the levy of tax on the sale and purchase of goods in bihar;8. this clearly .....
Tag this Judgment!Court : Kerala
Decided on : Nov-27-1999
Reported in : [2000]244ITR598(Ker)
..... be borne in mind that the change in language of section 271(1)(c) brought in by amendment by the finance act, 1964, makes a lot of difference. the explanation to section 271(1)(c) of the act introduced by the finance act as indicated above creates a presumption of law, which is, no doubt, rebuttable, to the effect that where ..... the rule regarding burden of proof enunciated in cit v. anwar ali : [1970]76itr696(sc) , is no longer valid (see cit (addl) v. jeevan lal sah : [1994]205itr244(sc) ). whether it is a case of undisclosed or unexplained cash deposit or any other concealment, the standard is the same. the principle enunciated in anwar ali's case ..... had not been furnished with copies of the same. overruling the objection, the deputy commissioner of income-tax (appeals) levied penalty under section 271(1)(c) of the act. on appeal, the commissioner of income-tax (appeals) after referring to its earlier findings, observed that the explanation offered by the assessee was false and the amount .....
Tag this Judgment!Court : Andhra Pradesh
Decided on : Sep-14-1999
Reported in : 2000(1)ALD199; 1999(5)ALT715
..... reasons to be recorded in writing.' as indicated above, in all these three writ petitions, the constitutional validity of section 19(3) of the andhra pradesh panchayat raj act, 1994, is challenged, mainly on three grounds.7. leading the arguments on behalf of the writ petitioners, sri s. ramachandra rao, learned senior counsel, firstly, submitted ..... procreation, but only disqualifies any person who is otherwise eligible to seek election to various public offices coming within theambit of the andhra pradesh panchayat raj act, 1994 or delcares such persons who have already been holding such offices to be disqualified from continuing in such offices if they procreate more than two children.23 ..... right. it is a special right created by the statute and can only be exercised on the conditions laid down by the statute. the fundamental rights chapter has no bearing on a right like this created by statute. the appellants have no fundamental right to be elected as members of parliament. if they want .....
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