Judgment Search Results Home > Cases Phrase: finance act 2005 section 18 amendment of section 54ed Court: allahabad Page 1 of about 121 results (0.056 seconds)

Ms Dhampur Sugar Mills Ltd. Dhampur, District Bijnor. Vs. Assistant Co ...

Court : Allahabad

..... day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and (b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time limit for ..... commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005, in response to a notice served under this section, and (b) subsequently a notice has been served under clause (ii) of sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to clause (ii) of sub-section (2) of section 143, but before the expiry of the time limit for making the assessment, reassessment or ..... income chargeable the tax which has escaped assessment is less than rupees one lac, the limitation to issue notice under section 148 of the act is only four years even if case falls under the exception mentioned in proviso to section 147 and six years limitation is applicable only in case where escaped income chargeable to tax exceeds rupees one lac and ..... in view of the above, we are of the view that the impugned notice issued under section 148 of the act is barred by limitation being issued beyond the period of limitation inasmuch as no case of failure on the part of the assessee to disclose fully and truly material .....

Vikram Kothari (H.U.F.) Vs. State of U.P.

Court : Allahabad

..... day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and (b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time limit ..... income chargeable the tax which has escaped assessment is less than rupees one lac, the limitation to issue notice under section 148 of the act is only four years even if case falls under the exception mentioned in proviso to section 147 and six years limitation is applicable only in case where escaped income chargeable to tax exceeds rupees one lac and ..... commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005, in response to a notice served under this section, and (b) subsequently a notice has been served under clause (ii) of sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to clause (ii) of sub-section (2) of section 143, but before the expiry of the time limit for making the assessment, reassessment or re- ..... for the sales of shares were furnished by the assessee, the income by way of interest could not be put to tax under section 56 of the act, 1961, the escapement has been on account of the failure on the part of the assessee fully and truly all material fact necessary .....

Jagran Prakashan Ltd. Vs. Commissioner of Income-tax, Kanpur Nagar

Court : Allahabad

..... commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and (b) subsequently a notice has been served under subsection (2) of section 143 after the expiry of twelve months specified in the proviso to subsection (2) of section 143, as it stood immediately before the amendment of said subsection by the finance act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, ..... - (a) where a return has been furnished during period commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005, in ..... reassessment or recomputation as specified sub-section (2) of section 153, every such notice referred to in this clause shall be deemed to be a valid notice: provided further that in a case .....

Commissioner of Income-tax Vs. Krishi Utpadan Mandi Samiti

Court : Allahabad

Reported in : [2010]186TAXMAN460(All)

..... amendment in section 10(20) brought by the finance act, 2002, the assessees were required to get registration under section ..... of the fact that section 10(29) was omitted and since it wanted exemption under section 11 of the act, it should have filed the application for registration immediately after the finance act, 2002 came into force ..... finance act, 1983 with effect from 1st april, 1984, legislature has omitted the words 'not involving the carrying on of any activity for profit' from section 2(15) of the act ..... allowance, medical aid and contributions towards provident fund and pensions of the officers and servants employed by or for it;(iii) expenses of and incidental to elections under this act;(iv) the principal amount of or interest on loans and advances referred to in clause (x) of sub-section (2) of section 16;(iv-a) the rent of and taxes on any land and building in possession of the committee;(v) expenses on collection, maintenance, dissemination and supply of all such information as ..... market committee; and(xi-a) financial assistance to charitable institutions approved by the board or recognized educational institutions, subject to a maximum of two per cent of total receipt [excluding money raised under clause (v) of section 17 and grants made by government] in the previous financial year;(xii) such other expenses as may be prescribed:provided that the annual expenditure in respect of matters specified in clause (ii) shall not exceed ..... and 2005- ..... to 1-4-2003 to 31-3-2005, i.e. .....

Anirban Nath Sushmita Huf Vs. Dcit Kanpur

Court : Allahabad

..... union of india and others (supra) the madras high court held that section 269ss of the act occurs in chapter xx-b deals with two different kinds of transactions, namely, loans ..... the amended section 269-t, in which the word "loan" was introduced in section 269-t, was introduced for the first time in the year 2002 w.e.f ..... the deputy commissioner of income tax imposed penalty under section 271-e of the act for alleged violation of section 269t, which provides for payment of an amount ..... prior to amendment in section 269- t in the ..... the deputy commissioner of income tax held that the transaction is covered by section 269-t because it represents the repayment of deposits otherwise than by way of crossed account payee cheque ..... the amendment was intended to extend its scope to loans also, hence, loans came within the purview of section 269-t and the penalty provisions of section ..... in the finance bill, 2002 the parliament clearly recognised the fact that the existing provision did not have any ..... motilal subhodh kumar jain (2005) 277 itr 524 (mp) in support of his submission, that in the transaction, as in the present case penalty, provision under section 271-e, is not ..... sought part repayment of the loans by transferring the shares allotted to it by the companies m/s trimurti fertiliser ltd and m/s crown leasing and finance co. ..... sushmita (huf)-the assessee-appellant was in need of money to apply for allotment of shares of two companies m/s trimurti fertiliser ltd and crown leasing and finance co. .....

Oxford Academy for Career Development Vs. Chief Commissioner of Income ...

Court : Allahabad

Reported in : (2009)226CTR(All)606

..... scope of the definition was changed for the it act, 1961, specially after an amendment in section 2(15) by the finance act, 1983, w.e.f. ..... out in accordance with the objects of the trust or institution, as the case may be, he shall pass an order in writing cancelling the registration of such trust or institution:provided that no order under this sub-section shall be passed unless such trust or institution has been given a reasonable opportunity of being heard.it is submitted by the petitioner's counsel that it is not applicable for the years under consideration. ..... regarding the applicability of the amendment in section 12aa(3) of the act, which came into existence ..... the order cancelling the registration granted to a trust or institution under section 12aa of the act being a quasi-judicial order does not fall within the category of orders mentioned under section 21 of the general clauses act, 1897, which provides that the power conferred on an authority empowers to issue orders including the power to rescind such orders and the cit would not have power to rescind the order passed ..... the learned counsel for the petitioner has submitted that the registration under section 12a of the act is an elaborate procedure and is not just a mere formality and the recognition once granted cannot ordinarily be withdrawn and in the present case, all the aims and objects of the petitioner's ..... radha kishan goel : (2006) 200 ctr (all) 300 : (2005) 278 itr 454 (all) as well as in the case of virtual soft .....

A. H. Wheeler and Co. Private Ltd. Vs. Income-tax Officer, Allahabad.

Court : Allahabad

Reported in : [1964]51ITR92(All)

..... this is a writ petition under article 226 of the constitution directed against the orders dated the 17th july, 1962, under section 35 of the income-tax act, 1922 (hereinafter referred to as the act), withdrawing the super-tax rebate under clause i (c) to the second proviso to paragraph d of part ii of the first schedule of the finance act of 1958.the material facts leading up this petition are these : the petitioner is a company duly registered with effect from ..... that the provision in the finance act of 1951 in respect of additional income-tax on account of excess dividend was ultra vires and the provisions of the finance acts of 1958 and 1959 were analogous to the provision in the finance act of 1951 and, therefore, the super-tax rebate could not have been withdrawal and (3) that the matter was a controversial one which could not be decided under section 35 of the income-tax act, a provision which deprived ..... -tax, where it was pointed out that the provisions of the first schedule, part ii, paragraph d of the finance act of 1956, which is in pari materia with the relevant finance acts of 1958-59, was not at all analogous to the provisions of the finance act of 1951 which their lordships of the supreme court were called upon to consider in commissioner of income-tax v. ..... of the matter and the relevant provisions of the finance acts of 1958-59 being mandatory, the income-tax officer, under the provisions of section 35 of the act, had only done what he was obliged to do under the act. .....

A.H. Wheeler and Co. P. Ltd. Vs. Income-tax Officer, a Ward

Court : Allahabad

Reported in : [1973]88ITR231(All)

..... it appears that in the rectification proceedings before the income-tax officer it was contended that the relevant provisions of the two finance acts were in pari materia with the provisions of clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act, 1951, and that, as that provision had been held invalid by the bombay high court in khatau makhanji spinning and ..... this is a case where the income-tax officer omitted to apply the relevant provisions of the finance acts of 1958 and 1959, and we are satisfied that the omission constitutes a mistake apparent from ..... it is said, a debatable question whether the finance act, 1958, and the finance act, 1959, warranted 'the reduction of super-tax rebate ..... on july 17, 1962, the income-tax officer made two separate orders under section 35 of the act for the two assessment years purporting to rectify the mistake apparent from the ..... the first contention is that in regard to the case of the assessment year 1959-60, the order under section 35 of the act was made after the assessment order had been modified in appeal and it was not open to the income-tax officer to rectify an assessment order after it had been ..... other contention is that the income-tax officer acted outside the scope of section 35 of the act inasmuch as there was no mistake apparent from ..... the income-tax officer issued a notice under section 35 of the act for each assessment year pointing out that there was an error apparent on the record which .....

income-tax Appellate Tribunal Vs. B. Hill and Co. (P.) Ltd.

Court : Allahabad

Reported in : (1982)29CTR(All)301; [1983]142ITR185(All)

..... the sale of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to the tax concession provided under section 2(4)(a)(i) of the finance act, 1967 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is not a company as is ..... the sale of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to the tax concession provided under section 2(5)(i) of the finance act, 1966 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is nota company as is ..... from the sale of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to tax concession provided under section 2(5)(a)(i) of the finance act, 1965 (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is not a company as is ..... from the sale of import entitlements were not profits derived from the export of goods by the assessee and accordingly not entitled to tax concession provided under section 2(5)(a)(i) of the finance act, 1964 ? (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in holding that the assessee is not a company as is .....

Ved Vyas Chawla Vs. the Income Tax Officer 'C' Ward and Anr.

Court : Allahabad

Reported in : AIR1965All37; [1965]57ITR749(All)

..... therefore, income chargeable under the head 'salaries' by implication will not be subjected to additional surcharge which came to be levied under the finance act of 1963 under section 2(a)(i) and (ii) for the first time. ..... question to be considered whether additional surcharge or additional tax which could have been levied under article 271 can be levied only on a particular class and not on the public in general, the argument is that in the finance act of 1963, which is the impugned provision, the salaried class of persons has been excluded from the application of the provisions for the levy of surcharge. ..... the relevant portion of section 2 sub-clause (2) of the finance act 1963, reads; '(2) in making any assessment for the assessment year commencing on the 1st day of april, ..... employees have always, at least since the income-tax act of 1922, been taxed on the basis' of the finance act current during the year when the salary is received and not on the basis of the finance act enacted after the year has come to a close. ..... the compulsory deposit scheme applies to a well defined class and the finance act of 1963 cannot be said to place any restriction on the free exercise of any profession, trade or occupation. ..... the charge of discrimination, therefore, cannot legitimately be levied against the finance act of 1963 in the matter of 'additional surcharge' as the classification is neither arbitrary nor capricious; it is a perfectly understandable, intelligible and reasonable classification. .....