Judgment Search Results Home > Cases Phrase: finance act 2005 section 2 income tax Court: allahabad Page 3 of about 19,855 results (0.149 seconds)

Sanjay Khetan Vs. Commissioner of Income-tax and ors.

Court : Allahabad

Reported in : (2004)188CTR(All)361; [2004]266ITR453(All)

..... the amounts have not been paid by the assessee-defaulter. the recovery certificate was issued on march 21, 1982, i.e., much before the addition of rule 68b by the finance act, 1992. rule 68b has been inserted with effect from june 1, 1992, which is prospective. hence, in our opinion, rule 68b applies in respect of recoveries in pursuance of ..... june 1, 1992. in our opinion, rule 68b cannot be said to be retrospective. hence, it cannot apply in those cases where the order under section 245-i or chapter xx of the act became conclusive before june 1, 1992, which is the date on which rule 68b came into effect. rule 68b applies only in cases where a conclusive ..... demand of any tax, interest, fine, penalty or any other sum, for the recovery of which the immovable property has been attached, has become conclusive under the provisions of section 245-i or, as the case may be, final in terms of the provisions of chapter xx : provided that where the immovable property is required to be resold due to .....

Chandra Prakash Agrawal Vs. Assistant Commissioner of Income-tax and o ...

Court : Allahabad

Reported in : (2006)206CTR(All)505; [2006]287ITR172(All)

..... books of account and other documents, which have been requisitioned, have been delivered to the requisitioning authority.12. chapter xtv-b containing sections 158b to 158bh has been inserted by the finance act, 1995, with effect from july 1, 1995. as is clear from the heading given under chapter xtv-b, it introduced a ..... a return filed in compliance with the notice dated march 22, 2005. he also requested for disclosing the reason for reopening the assessment under section 148 of the act. respondent no. 1, vide notice dated november 10, 2005, issued under section 142(1) of the act, asked the petitioner to appear and produce certain documents to which ..... books of account, documents, etc. the books of account and other documents having been requisitioned under section 132a of the act, recourse to proceedings under section 148 of the act by issuance of the notice dated march 22, 2005, is wholly without jurisdiction as special procedure for assessment of search cases has been provided under chapter .....

Commissioner of Income-tax Vs. Raja Mohd. Mustafa Ali Khan

Court : Allahabad

Reported in : [1977]109ITR710(All)

..... dwarkadas : [1963]49itr1(sc) and in particular to the observations of hidayatullah j. at page 53, where, considering the provisions of the finance act, 1956, which amended section 34, it was observed:' that this section was to operate on back period does not admit of any doubt. no clearer language could be used for the purpose. the first proviso ..... initiated in 1955, when limitation was still subsisting, the period for making the assessment would be governed by section 34(3), as amended by section 18 of the finance act of 1956, and not by the unamended provisions of section 34(3). in support of this contention he has drawn our attention to the decision of the supreme court ..... in the present reference is short but interesting. section 34 of the income-tax act, before it was amended by section 18 of the finance act, 1956, permitted issue of notices under section 34(1)(a) only within a period of 8 years from the end of the assessment year. by act 18 of 1956, the limitation regarding issue of .....

Anil Rice Mill Vs. the Commissioner of Income Tax

Court : Allahabad

Reported in : (2005)199CTR(All)69; [2006]282ITR236(All)

..... apex court in the case of commissioner of income tax v. united trading and construction co (supra) has only held that there is nothing in section 24 of the finance (no 2) act which prevents the income tax officer, if he is no satisfied with the explanation of the assessee about the genuineness of sources of amounts found credited in ..... the income disclosed by the declarant. it was further held that there is nothing in section 24 of the finance (no. 2) act which prevents the income tax officer, if he is not satisfied with the explanation of the assessee about the genuineness of sources of amounts found credited ..... in ito v. rattan lal : [1984]145itr183(sc) . in the said decision it has been held that the immunity enjoyed by a declarant under section 24 of the finance (no. 2) act, 1965, under the voluntary disclosure scheme is confined to the declarant alone and is not extended to the assessment of a third party assessee in relation to .....

Commissioner of Wealth-tax Vs. B.K. Sharma

Court : Allahabad

Reported in : [1977]110ITR902(All)

..... 1965 did not make any difference. the fact that the tax was paid by the assessee at the rate specified in sub-section (3) of section 68 of the finance act, 1965, instead of the rates specified in the finance acts for 1960-61 and 1961-62 also did not change the legal position. of course, inthe case before the supreme court ..... the liability arose at the end of each previous year. the liability was merely assessed and quantified in 1965 in the manner provided under section 68 of the finance act of 1965. beyond that the finance act made no difference.10. the gujarat high court in commissioner of wealth-tax v. ahmed ibrahim sahigara : [1974]93itr288(guj) has taken a ..... of the kerala high court in c, k. sundara raja naidu v. wealth-tax officer : [1971]82itr410(ker) . the kerala high court hasheld that section 68 of the finance act, 1965, is a special provision to compound the income-tax liability in respect of an income which an assessee may choose to disclose under the scheme envisaged by .....

In Re: Excess Profits Tax Assessment of Chaturbhuj and Co., Kanpur

Court : Allahabad

Reported in : AIR1960All413

..... different from the language used in section 16 of the excess profits tax act.in section 12(2) of the excess profits tax act and in section 18 of the english finance act, which the house of lords interpreted, the provision for allowing deduction in income tax was that deduction ..... income for the purposes of imposition of income tax. the corresponding provision in our excess profits tax act is contained in sub-section (2) of section 12 of the act.it was held by their lordships that, though section 18 of the finance act laid down that the amount of excess profits tax payable in respect of a trade or business for ..... applied if we are called upon to express our opinion in respect of the provision contained in section 12(2) of the excess profits tax act. in section 12 (2) of the excess profits tax act as well as section 18 of the finance act of england which the house of lords had had the occasion to interpret the language used was .....

Chaturbhuj and Co. Vs. Re.

Court : Allahabad

Reported in : [1960]39ITR337(All)

..... income for the purposes of imposition of income-tax. the corresponding provision in our excess profits tax act is contained in sub-section (2) of section 12 of the act. it was held by their lordships that, though section 18 of the finance act laid down that the amount of excess profits tax payable in respect of a trade or business for ..... house of lords had the occasion to interpret, the language used was different from the language used in section 16 of the excess profits tax act. in section 12(2) of the excess profits tax act and in section 18 of the english finance act, which the house of lords interpreted, the provision for allowing deduction in income-tax was that deduction ..... reason for the decision given by the house of lords was that the language of the provisos left no doubt at all that for purposes of section 18 of the finance act the reduced excess profits tax in earlier chargeable accounting periods was to be ignored. no doubt, lord porter in his decision expressed the opinion that .....

Kanoria Chemicals and Ind. Ltd. Vs. Union of India (Uoi) and ors.

Court : Allahabad

Reported in : 2000(68)ECC442

..... revision petition vide order dated 31.8.1982. before the revision was decided by the government of india the act was amended by the finance act 1982. section 47 of the finance act, 1982 amended section 4 of the act and validated by inserting an explanation with effect from 1st october 1975 and also validated the action taken during the ..... to pass fresh order especially when the statutory provisions have been retrospectively amended. the learned counsel for the petitioner had not disputed the applicability of section 47 of the finance act, 1982 in the present petition. we therefore, do not find any error in the orders impugned in the present writ petition.19. in view ..... by the petitioner by observing as under:government observe that whatever doubts there might have been on the issue involved are now set at rest by section 47 of the finance act, 1982. government, therefore, see no reason to interfere with the impugned order in appeal which is correct in law. the revision application is .....

Commissioner of Income Tax Vs. Daljeet Tyres

Court : Allahabad

Reported in : (2006)201CTR(All)530; [2006]287ITR344(All)

..... the case of singh engg. works (p) ltd. v. cit : [1979]119itr891(all) , while considering the deductions under section 80i of the it act, which have since been omitted by finance act, 1972, w.e.f. 1st april, 1973, laid down that the broad distinction between manufacture and production is that manufacture brings ..... by the central government. from 1st april, 1976, however, section 32a was introduced in the it act, 1961 granting investment allowance under the finance act, 1976. a circular of the department being circular no. 202 dt. 5th july, 1976, which explained the provisions of the finance act, 1976, pertaining to direct taxes, refers to investment allowance ..... tarafdar (supra) referred to above, the assessee was granted the investment allowance.12. in the case of cit v. professional information systems & management : [2005]274itr242(guj) , the question arose as to whether data processing through computer amounts to production of article or thing, and that whether the assessee was eligible .....

Sahara India Savings and Investment Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

..... of interest as defined in section 2(7) of the finance act, 1991. it was submitted that (a) deletion of exclusion of interest on securities would not operate to include the same within the purview of interest ..... s submissions relating to the deletion of the erstwhile clause 'exclusion of interest on securities' in sub-clause (1) of the former section 2(7) of the interest tax act, 1974 by the finance act of 1991, the counsel for the asscssce stated that it would lead to inference that interest on securities was now included within the meaning ..... on the facts and circumstances of the case and in law. securities/debentures would not be covered by the definition of 'interest' in section 2(7) even after the amendment by the finance act, 1991.11. we have considered the rival submissions, facts and circumstances of the case, provisions of law and the case laws referred to .....