Judgment Search Results Home > Cases Phrase: finance act 2001 section 134 amendment of act 5 of 1986 Court: andhra pradesh Page 9 of about 163 results (0.191 seconds)

Bharat Heavy Electricals Limited Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Reported in : [2001]252ITR316(AP)

..... after extracting the facts and analysing several decisions and also considering the effect of section 17(2)(vi), which was inserted by the taxation laws (amendment) act, 1984, but repealed by the finance act, 1985, it was held that the interest subsidy is not a perquisite and that no legal obligation lies on the employer to deduct tax at source. ..... whether, in the facts and circumstances of the case, the income-tax appellate tribunal is correct in holding that the assessee-company is liable to pay tax on interest subsidy provided to its employees in accordance with the provisions of section 201 of the income-tax act, though the asses-see-company was under honest belief that interest subsidy is not inclu-dible as perquisite ?' 5. ..... whether, in the facts and in the circumstances of the case, the income-tax appellate tribunal is correct in holding that the income-tax officer can pass an order under section 201 of the income-tax act inspite of the fact that the employees filed returns of income separately before the assessing officer having jurisdiction ? 6. ..... , in the facts and in the circumstances of the case, the income-tax appellate tribunal is correct in holding that the assessee-company is liable to pay tax on interest subsidy provided to its employees in accordance with the provisions of section 201 of the income-tax act, though the assessee-company was under honest belief that such interest subsidy is not includible as perquisite ? 5. .....

K.P. Chagganlal Oil Mills Vs. Commissioner of Income Tax and anr.

Court : Andhra Pradesh

Reported in : [1959]36ITR337(AP)

..... the action to be taken under section 46(1) of the hyderabad income-tax act where the income has escaped or is under-assessed or is assessed at too low a rate, we held that section 13 of the indian finance act was specifically enacted to save the provisions of income-tax acts in part b states for purposes of completing assessments in the process of being completed as well as assessing incomes escaping assessments, and that, therefore, section 13 of the indian finance act did save section 46(1) of the hyderabad income-tax act notwithstanding its repeal. ..... commissioner of income-tax, we held that sub-section (1) of section 13 of the indian finance act did not have the effect of saving the provisions of section 40 of the hyderabad income-tax act for purposes of imposing they levy of penalty relating to any particular year or years of assessment. ..... after giving notice to the respondents and on considering the petition and the affidavit and on hearing the arguments we had by our order dated march 9, 1956, allowed the petitioner to amend has petition and add the prayer for the issue of writs of certiorari quashing the notice dated may 11, 1955, and the order dated september 21, 1955, of the income-tax officer. ..... in view of the subsequent supervening facts the assessee filed an application for the amendment of his petition on december 2, 1955. ..... the amended writ petition was accordingly filed on march 13, 1956.6. .....

K.P. Chagganlal Oil Mills, Secunderabad Vs. Commissioner of Income Tax ...

Court : Andhra Pradesh

Reported in : AIR1959AP263

..... from this point of view the registration or cancellation of the firm can be said to be a step in the levy, assessment and collection of the tax within the meaning of section 13(1) of the indian finance act and appears to be saved.though this is so by virtue of sub-section (2) of section 46 no order of assessment under section 31 or re-assessment under sub-section (1) of section 46 can be made after the expiry of three years from the end of the year in which the gains were first assessable but this provision does not apply ..... after giving notice to the respondents and on considering the petition and the affidavit and on hearing the arguments we had by our order dated 9-3-1956 allowed the petitioner to amend his petition and the prayer for the issue of writs of certiorari quashing the notice dated 11-5-1955 and the order dated 21-9-1955 of the income-tax officer. ..... in view of the subsequent supervening facts the assessee filed an application for the amendment of his petition on 2-12-1955. ..... the amended writ petition was accordingly filed on 13-3-1956.7. .....

Duncans Agro Industries Ltd. and anr. Vs. Assistant Collector of Centr ...

Court : Andhra Pradesh

Reported in : 1987(32)ELT350(AP)

..... appeal came up for hearing before the bench, the parliament amended section 4 by finance act, 1982 (act no. ..... the assessee fairly conceded that because of the above explanation inserted by the finance act of 1982 with retrospective effect from 1-10-1975 the assessee's contention is no ..... the bench also rejected the argument that the explanation cannot override the principle set out in sub-clause (ii), by saying that, after the amendment, the explanation and sub-clause (ii) will have to be read together and if so read, there can be little doubt that what can be deducted from the 'cum-duty' price is only the ..... any duty of excise already paid on the raw material or component parts used in the production or manufacture of such goods) from the duty of excise computed with reference to the rate specified in such act in respect of such goods as reduced so as to give full and complete effect to such exemption; and (ii) in any other case, the duty of excise computed with reference to the rate specified in such ..... any excisable goods shall be the sum total of: (a) the effective duty of excise payable on such goods under this act; and (b) the aggregate of the effective duties of excise payable under the central acts, if any, providing for the levy of duties of excise on such goods; and the effective duty of excise on such goods under each act referred to in clause (a) or (i) in a case where a notification or order providing for any exemption (not ..... , dated 30-4-1986 involved three stages ..... 1986 (23) .....

Amara Kondaiah Vs. Income-tax Officer, C-ward and anr.

Court : Andhra Pradesh

Reported in : [1977]106ITR73(AP)

..... like winnings from lotteries, were treated as income in the income-tax act, 1922, but were specifically exempt from levy of income-tax under section 4(3)(vii) of the 1922 act and section 10(3) of the 1961 act, they againbecame taxable when the exemption was withdrawn by the finance act, 1972. 17. ..... by the finance act, 1972, clause (ix) was added to section 2(24) of the income-tax act, 1961, which ..... the sources of income under that act have been expanded from time to time, as for instance, by the inclusion of 'capital gains' in section 6 of the income-tax act, 1961, by the amending act no. ..... income-tax and excess profits tax (amendment) act, xxii of 1947, amended the indian income-tax act by enlarging the definition of the word' income' in section 2(6c) so as to include capital gains and adding a new head of income in section 6 and inserting the new section 12b relating to capital gains. ..... we hold that parliament is competent to enact clause (ix) in sub-section (24) of section 2 of the income-tax act, 1961, under entry 82 of the union list (list i) of the seventh schedule to the ..... lotteries : [1974]95itr171(all) , the allahabad high court held that clause (ix) added to section 2(24) of the income-tax act is intra vires the powers of parliament. ..... now, according to section 2(24)(ix) of the income-tax act, income includes any winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or from gambling or betting of any form or nature .....

Commissioner of Income-tax Vs. Nandanam Constructions

Court : Andhra Pradesh

Reported in : [1996]222ITR737(AP)

..... this context that the definition of 'owner of house property' as contained in section 27 of the act was amended by inserting clause (iiia) by the finance act of 1987 so as to make the position clear and explicit. ..... supreme court discussed the question as to who is the owner referred to in section 9 of the indian income-tax act, 1922, corresponding to section 22 of the present act as under (at page 575) : ' the question is who is the 'owner' referred to in this section is it the person in whom the property vests or is it he who is entitled to some beneficial interest in the property it must be remembered that section 9 brings to tax the income from property and not the interest of a person ..... when the matter was pending decision of the appellate commissioner, the administrative commissioner issued notice under section 263 of the act calling upon the assessee to show cause why the income from house property should not be assessed in his hands for the period between the date of handing over of the ..... the tribunal after considering the case law on the aspect of ownership and possession, the concept of ownership under the transfer of property act, and the liability of a person to pay the tax by virtue of his being in possession of the property, held that the assessee could not be subjected to tax in respect of the property for the ..... the nizam's miscellaneous trust : [1986]160itr253(ap) in support of his contention that income of the present nature is liable to be taxed at the hands .....

N. Karuna and anr. Vs. Appropriate Authority and ors.

Court : Andhra Pradesh

Reported in : [2001]251ITR230(AP)

..... the act by the finance act, 1986, with effect from october 1, 1986. ..... made in respect of any immovable property after the expiration of a period of two months from the end of the month in which the statement referred to in section 269uc in respect of such property is received by the appropriate authority : provided further that where the statement referred to in section 269uc in respect of any immovable property is received by the appropriate authority on or after the 1st day of june, 1993, the provisions of the first proviso ..... -referred provision shows that allowing of possession to be taken or retained in part performance of a contract of the nature referred to in section 53a of the transfer of property act, alone could be considered as transfer and not a permissive possession or any other kind of possession delivered by the seller to the purchaser ..... otherwise provided in this chapter, any order made under sub-section (1) of section 269ud or any order made under sub-section (2) of section 269uf shall be final and conclusive and shall not be called in question in any proceeding under this act or under any other law for the time being in ..... words 'two months', the words 'three months' had been substituted : provided also that the period of limitation referred to in the second proviso shall be reckoned, where any defect as referred to in sub-section (4) of section 269uc has been intimated, with reference to the date of receipt of the rectified statement by the appropriate authority . . . .....

Commissioner of Income-tax Vs. Navabharat Enterprises

Court : Andhra Pradesh

Reported in : (2002)174CTR(AP)105; [2002]253ITR316(AP)

..... the commissioner of income-tax opined that though the words used are 'such goods' in both the limbs of clause (b) of sub-section (1), therepetition of the same words is indicative of the fact that the goods exported in both the years must be the same for entitling the assessee-company to claim extra deduction on account of the incremental turnover.3. ..... 372 (see : [1984]146itr9(guj) ), dated december 8, 1983, issued in explaining the different provisions of the finance act, 1983. ..... the income-tax officer was of the view that since no coffee was exported by the assessee-company in the immediately preceding previous year, the assessee-company was not entitled to any relief under section 80hhc(1)(b) on the export of coffee during the relevant previous year corresponding to the assessment year 1984-85. ..... the short question that falls for our consideration is whether the words 'such goods or merchandise' occurring in clause (b) of sub-section (1) of section 80hhc qualify the words 'any goods or merchandise' occurring in sub-section (1) of section 80hhc of the act or whether these words are referable to some other provisions in sub-section (1). ..... the assessment was completed by the income-tax officer on march 26, 1986, on a total income of rs. .....

Commissioner of Income-tax Vs. Sri Krishna Oil Complex Ltd.

Court : Andhra Pradesh

Reported in : [2000]242ITR48(AP)

..... under these circumstances the commissioner (appeals) held that section 9(1)(vi) of the act inserted by the finance act with effect from june 1, 1976, is not applicable and, therefore, the royalty payable to trade mcnair ..... of the income by way of royalty is a foreign company the agreement shall not be deemed to have been made before that date unless, before the expiry of the time allowed under sub-section (1) or sub-section (2) of section 139 (whether fixed originally or on extension) for furnishing the return of income for the assessment year commencing on the 1st day of april, 1977, or the assessment year in respect of which ..... december 16, 1975, since it was approved on august 24, 1976, by the central government, does it make any difference for the purpose of section 9(1)(vi) of the act in other words, does the approval of the agreement by the central government on august 24, 1976, make it a post-april 1, 1976, agreement thereby attracting section 9(1)(vi) of the act at this stage, it is necessary to refer to section 9(1)(vi) of the act and the relevant proviso and explanation thereto which reads as under :'9. ..... ; 1/3rd at the time of transfer of technical documentation and 1/3rd at the time of commencement of commercial production.skocom was treated as an agent of trade mcnair under section 163 of the act by an order passed by the income-tax officer on june 29, 1981, for the assessment year 1979-80. ..... the said amendment suggested by the central government was accepted and the same .....

Asmitha Microfin Limited (Asmitha)

Court : Andhra Pradesh

..... a majority in number representing three- fourths in value of the creditors, or class of creditors, or members, or class of members as the case may be, present and voting either in person or, where proxies are allowed under the rules made under section 643, by proxy, at the meeting, agree to any compromise or arrangement, the compromise or arrangement shall, if sanctioned by the court, be binding on all the creditors, all the creditors of the class, all the members, or all the members ..... submitted that the matter was not pursued at the level of cdreg regarding merger - demerger as requisite majority of lenders had already approved the scheme in the board convened meeting and sections 391 and 394 of the act provide a complete mode and manner in which scheme of arrangement between a company, its shareholders and its creditors are to be proposed, considered, scrutinized, approved and sanctioned. ..... it was envisaged that by virtue of the said scheme of arrangement, share would become a mature micro finance institution and both the share and asmitha companies would have an increased scope for the operations of their respective non-ap business and ap business in order to achieve economies ..... detailed guidelines on the corporate debt restructuring system on 23.08.2001 for implementation by the banks and financial institutions. ..... incorporated in the year 2001 and 1999 respectively. ..... petition no.200 of 2016 is asmitha microfin limited (asmitha) a public limited company incorporated on 26.02.2001. .....