Court : Gujarat
Reported in : 2008(127)ECC61; 2008(153)LC61(Gujarat); 2008(229)ELT24(Guj)
..... however, by finance act, 2001, in case of commissioner (appeals) the period of limitation was curtailed from three months to 60 days and the period for condoning delay was curtailed from a further period of three months to a further period of 30 ..... therefore, do not find any merit in any of the contentions raised on behalf of the petitioners for challenging the constitutional validity of the proviso to sub-section (1) of section 35 of the central excise act, 1944 in so far as the parliament has provided for the limitation period of 60 days for filing an appeal before the commissioner (appeals) and in so far as the power to condone the delay conferred on the commissioner (appeals) is only for a period of 30 days after expiry of the limitation period of 60 days.19. ..... thereafter vide act 22 of 1995, the word 'collector (appeals)' was substituted by the word 'commissioner ( ..... while this new chapter conferred on the appellate tribunal power to entertain appeals within three months with further power to condone the delay if sufficient cause was shown, simultaneously the power of the collector (appeals) in the matter of condonation of delay was restricted to a further period of three months after expiry of the limitation period of three months for filing the ..... commissioner of customs (acu), new delhi : 2004(173)elt449(del) taking the view that the commissioner (appeals) had no power to condone the delay in filing the appeal beyond the total period of 90 days from the date of service of .....
Tag this Judgment!Court : Gujarat
..... explanation added to section 80-ib(9) by the finance (no.2) act, 2009 (reproduced above) with retrospective effect from 1.4.2000, reads as under :- "explanation :- for the purposes of claiming deduction under this sub-section, all blocks licensed under a single contract, which has been awarded under the new exploration licensing policy announced by the government of india vide resolution no.o-19018/22/95-ong.dq.vl dated 10th february, 1999 or has been awarded in pursuance of any law for the time being in force or has been awarded ..... it is also proposed to further amend the said sub-section (9) as so substituted and further amended by inserting a new clause (iv) to provide that the benefit of deduction under the said sub-section shall be available if the undertaking is engaged in commercial production of natural gas in blocks licensed under the viii round of bidding for award of exploration contracts under the new exploration licensing policy announced by the government of india vide resolution no.o-19018/22/95-ong.do.vl dated 10th february, 1999 (hereinafter referred to as "nelp- ..... by an amendment in finance act, 2001, when the benefit to commercial producers of mineral oil was shifted from section 80-ia to section 80-ib and the said section 80-ib with effect from 1.4.2002, till its amendment by finance act, 2008 reads as under :- "80-ib(1) where the gross total income of an assessee includes any profits and gains derived from any business referred to in sub-sections (3) to (11). .....
Tag this Judgment!Court : Gujarat
..... explanation added to section 80-ib(9) by the finance (no.2) act, 2009 (reproduced above) with retrospective effect from 1.4.2000, reads as under :- "explanation :- for the purposes of claiming deduction under this sub-section, all blocks licensed under a single contract, which has been awarded under the new exploration licensing policy announced by the government of india vide resolution no.o-19018/22/95-ong.dq.vl dated 10th february, 1999 or has been awarded in pursuance of any law for the time being in force or has been awarded ..... it is also proposed to further amend the said sub-section (9) as so substituted and further amended by inserting a new clause (iv) to provide that the benefit of deduction under the said sub-section shall be available if the undertaking is engaged in commercial production of natural gas in blocks licensed under the viii round of bidding for award of exploration contracts under the new exploration licensing policy announced by the government of india vide resolution no.o-19018/22/95-ong.do.vl dated 10th february, 1999 (hereinafter referred to as "nelp- ..... by an amendment in finance act, 2001, when the benefit to commercial producers of mineral oil was shifted from section 80-ia to section 80-ib and the said section 80-ib with effect from 1.4.2002, till its amendment by finance act, 2008 reads as under :- "80-ib(1) where the gross total income of an assessee includes any profits and gains derived from any business referred to in sub-sections (3) to (11). .....
Tag this Judgment!Court : Gujarat
Reported in : (1981)25CTR(Guj)263
..... : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in rejecting the assessee's claim for deduction under section 2(5)(a)(i) of the finance act, 1965, on account of export of cloth out of india during the accounting year ending on 31st march, 1965 ?' 10. ..... : 'whether, on the facts and circumstances of the case, the tribunal was justified in rejecting the assessee's claim for deduction under section (2)(a)(i) of the finance act, 1964, on account of export of cloth out of india during the accounting year ending on 31st march, 1964 ? ..... - (1) where the total income of an assessee referred to in sub-clause (i) of clause (a) of sub-section (5) of section 2 of the finance act, 1964 (5 of 1964), includes any profits and gains derived from the export of any goods or merchandise out of india, the amount of such profits and gains in respect of which deduction of income-tax and ..... , i would uphold the finding of the revenue authorities that the assessee is not entitled to any relief under section 2(5)(i) of the finance act, 1963.' 7. ..... these provisions contained in finance act, 1964, and finance act, 1965 are in identical terms except for the year mentioned in clause (a) ..... the ito, following his decision in the assessment year 1963-64, rejected the assessee-company's claim for rebate under the aforesaid provisions of the relevant finance acts in the assessment years 1964-65 and 1965-66. 3. ..... to the word 'derive' in webster's new 20th century dictionary, 2nd edn. .....
Tag this Judgment!Court : Gujarat
Reported in : (1981)22CTR(Guj)173; [1982]134ITR201(Guj)
..... the voluntary disclosures made and the income-tax paid in respect of these amounts the only thing that was required to be done was to make cross-entries or transfer entries so as to provide for the clear amount which remained and which was now shown in the books of account of the assessee-firm as the amount which was now clean of all liability and was completely covered by the ..... . under the finance act of 1965, clause 68, provision was made for voluntary disclosure of ..... as we have shown by underlining from the quotation from the statement annexed to the declaration under clause 68 of the finance act of 1965, the assessee made it very clear and specified that the amount of rs ..... book is the form duly filled in for making voluntary disclosure of undisclosed income under clause 68 of the finance act, 1965 ..... back upon the arrangement because it was only on the basis of that arrangement between the assessee and the department that the two disclosures were made, one under the ad hoc scheme of the finance act of 1965 and the other under s ..... on november 25, 1965, by the commissioner, gujarat-i, certifying that the assessee had made a declaration under clause 68 of the finance act of 1965 of income amounting to rs ..... and in the circumstance of the case, tribunal was justified in holding that imposition of penalties under section 271(1)(c) was justified for, (a) assessment year 1962-63, (b) for assessment year 1963-64, and (c) assessment year 1964-65 ?' 2. ..... board of revenue, new delhi. .....
Tag this Judgment!Court : Gujarat
Reported in : (1982)25CTR(Guj)263; [1982]137ITR616(Guj)
..... of 1976 :'whether, on the facts and in the circumstances of the case, the tribunal was justified in rejecting the assessees claim for deduction under section 2(5)(a)(i) of the finance act, 1965, on account of export of cloth out of india during the accounting year ending on 31st march, 1965 ? ..... of 1976 :'whether, on the facts and circumstances of the case, the tribunal was justified in rejecting the assessees claim for deduction under section (2)(a)(i) of the finance act, 1964, on account of export of cloth out of india during the accounting year ending on 31st march, 1964 ? ..... - (1) where the total income of an assessee referred to in sub-clause (i) of clause (a) of sub-section (5) of section 2 of the finance act, 1964 (5 of 1964), includes any profits and gains derived from the export of any goods or merchandise out of india, the amount of such profits and gains in respect of which deduction of income-tax and super-tax ..... under the circumstances, the ito, following his decision in the assessment year 1963-64, rejected the assessee-companys claim for rebate under the aforesaid provisions of the relevant finance acts in the assessment years 1964-65 and 1965-66.being aggrieved by the rejection of its claim, the assessee-company carried the matter in appeal before the ..... these provisions contained in finance act, 1964, and finance act, 1965 are in identical terms except for the year mentioned in cl. (a) of ..... meaning given to the word 'derive' in websters new 20th century dictionary, 2nd edn. .....
Tag this Judgment!Court : Gujarat
Reported in : [1983]142ITR503(Guj)
..... the references is identical, namely : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that the assessee is entitled to be treated as an industrial company under section 2(7)(c) of the finance act, 1973 ?' 3. ..... 2(8)(c) of the finance act, 1974, and except for this difference, in substance, the question involved in that reference is the same because the definition of industrial company ..... 'manufacture or processing of goods' has not been defined by the finance act, 1973, or the finance act, 1974. ..... 2(6)(d) of the finance act, 1968, observed that it was evident from the context in which that word was used, that it was complementary to the term 'manufacture' and, therefore, would not ..... 2(7)(c) of the finance act, 1973, and, therefore, the order of the commissioner directing levy of tax at the rate of ..... do not consider it necessary to refer to a number of authorities to which our attention was called by the learned counsel for the revenue because we think that the point is concluded by a decision of the supreme court to which we will presently ..... high court took the view that no manufacturing process was involved in ginning cotton as the process of ginning did not create any new or distinctive commodity. ..... the dictionary, the term 'manufacture' means a process which results in an alteration or change in the goods which are subjected to the process of manufacturing leading to the production of a commercially new article. .....
Tag this Judgment!Court : Gujarat
Reported in : (1964)0GLR746; [1965]56ITR621(Guj)
..... any time notwithstanding the expiration of the period of eight years provided under the section as it stood prior to its amendment by the finance act, 1956, and also enacted section 4 in the following terms for validation of notices issued prior to the commencement of the amending act : 'no notice issued under clause (a) and sub-section (1) of section 34 of the principal act at any time before the commencement of this act and no assessment, reassessment or settlement made or other proceedings taken in consequence of such notice shall ..... the learned advocate-general based on the substitution of words effected in sub-section (1b) by the finance act, 1956, must therefore be rejected. 22. ..... petition came to be heard by this court, parliament had enacted act xxxiii of 1954 which, as stated above, introduced section 34(1a) in section 34 of the indian income-tax act and this court came to the conclusion on a comparison of the provisions of section 5(1) of the act with section 34(1a) of the indian income-tax act that the new sub-section inserted in section 34 by act xxxiii of 1954 was intended to deal with the class of persons who were said to have been classified for special treatment by section 5(1) of act xxx of 1947.' 13. ..... this act was passed on 8th september, 1948, and it substituted a new section in place of the old and the material part of the material part of that section as subsequently amended by the income-tax (amendment) act, 1953 (which came in force 1st april, 1952), was as .....
Tag this Judgment!Court : Gujarat
Reported in : (2007)212CTR(Guj)285
..... the reference in favour of the revenue with the opinion that the appellate tribunal was in error in deleting the value of the factory and research buildings which were under construction and not in actual use for the purpose of business as contemplated under the provisions of section 40(3)(vi) of the finance act, 1983 and that in allowing the claim of the assessee, the tribunal had misread the plain and simple language of the said provisions. ..... that nothing in this clause shall apply to any unused land held by the assessee for industrial purposes for a period of two years from the date of its acquisition by him'(c) for clause (vi), the following clauses shall be substituted, namely:'(vi) building or land appurtenant thereto, other than building or part thereof used by the assessee as factory, godown, warehouse, cinema house, hotel or office for the purposes of its business or as a hospital, creche, school, canteen, library, recreational centre, shelter ..... , rest-room or lunch room mainly used for the welfare of its employees or used as residential accommodation, except as provided .....
Tag this Judgment!Court : Gujarat
Reported in : [1978]113ITR745(Guj)
..... in the submission of the learned advocate for the assessee, by the legislative changes brought about in clause (c) by the finance act, 1968, which deleted sub-clause (iii) of clause (c) and inserted sub-clause (v) to clause (a) in section 40, the distinction between an employee and a director of a company-assessee is not sought to be done away with by the ..... sub-clause (iii) of clause (c) of section 40 was first added by the finance act, 1963, with effect from april 1, 1963, and it read as under : '(iii) any expenditure which results directly or indirectly in the provision of any remuneration or benefit or amenity to an employee who is a citizen of india, to the extent such expenditure exceeds the amount calculated at the rate of five thousand rupees per month for any period of his employment after the february ..... we are of the opinion that the contentions urged on behalf of the assessee are well-founded for two significant reasons : in the first place, the distinction in the matter of deductibility of expenses made by a company in the case of directors and employees before the finance act of 1964, or thereafter continues to prevail because in the ultimate analysis the legislature was making different provisions about the amount of expenses which would not be deductible in ..... the following clause was substituted by the finance act, 1964, with effect ..... the amending act of 1968 does not appear to have been altered when the new sub-clause (v) was inserted in clause (a) of section 40. .....
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