Court : Rajasthan
Reported in : 2001(2)WLC525; 2001(3)WLN611
..... petition for enforcement of contractual matter must be entertained directly by the high court even though alternate remedy by way of civil suit is available. assuming that the rajasthan finance corporation is acting arbitrarily in claiming enhanced interest from the petitioner, inspite of circulars passed by the controlling authorities and that action being arbitrary is amenable to judicial review the question is ..... the manner of payment of interest on the local advance, etc., is also voluntarily accepted by the petitioner the conditions imposed on him by the contract as also by the finance corporation act, 1956 statutorily through out the transactions the contract of the petitioner has been voluntary, he has not been coerced into any agreement, he has voluntarily taken the liability flowing .....
Tag this Judgment!Court : Rajasthan
Reported in : 1970WLN398
..... finding that the agreement dated 2.5.1945 became void on the coming into force of the constitution or on 1.4.50 when the finance act was extended to rajasthan sections 65 and 70 of the contract act would apply. we then observed that in that case parties will have to produce material to unable us to pass an appropriate decree. both ..... was entered into.17. we are however of the opinion that the effect of the union of indian extending the finance act to rajasthan with effect from 1. 4.50 was to make void agreement ex a under section 56 of the contract act.18. in view of article 295 of the constitution both the union of india and the state of rajasthan succeeded ..... the new law is within the competence of the legislature and does not transgress the constitutional limits after the constitution came into force.19. the union of india extended the finance act to rajasthan with effect from 1. 4. 50. in view of this law which was within the competence of the union of india the union of india was no .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)125; [2004]269ITR399(Raj)
..... leading case propounding this interpretation is cit v. b.c. srinivasa setty : [1981]128itr294(sc) .in order to overcome the judicial interpretation, the finance act, 1987, w.e.f. 1st april, 1988, has provided in section 55(2)(a) that cost of acquisition in case of self- generated goodwill will be taken to be nil. for the purpose of bringing the ..... as to enable m/s j.k.. white cement works to acquire the same was a capital receipt. because of the fact that the computation provisions under section 48 of it act could, not be applied to, such transaction for want of no ascertainable cost of acquisition on the date of acquisition that capital gains did not arise out ..... there is no direct transfer by the assessee to the person to whom the transfer has been made would result in capital gain. we find under section 45 and section 48 of the it act that the provisions do not inhibit the computation of capital gains on the basis of such transfer. in its elementary form the computation of capital gains .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2007(1)Raj598
..... anr. (supra). it is also contended on the basis of m.j. velu mudaliar and anr. v. sri venkateswara finance corporation and ors. (supra) that where the objection as to non-compliance of section 69(2) of the act was taken but not pressed, it was held that the suit was maintainable. it is submitted that in the instant case, ..... therefore, as held by the apex court in the aforesaid mentioned case of shreeram finance (supra), the subsequent registration of the firm does not cure the defect. the suit is clearly not maintainable in view of the bar under sub-section (2) of section 69 of the act. both the substantial questions of law framed in this case deserve to be decided ..... as entered in the register of firms, the suit was barred by the provisions of section 69(2) of the act. reliance has been placed on jammu cold storage and general mills ltd. v. khairati lal and sons air 1960 jammu & kashmir 101 (fb) and shreeram finance corporation v. yasin khan and ors. : [1989]3scr484 . it is also submitted .....
Tag this Judgment!Court : Rajasthan
Reported in : 2000(3)WLC755; 2001(1)WLN707
..... any period prior to the coming into the force of this notification issued under the provisions of the chapter v of the rajasthan finance act, 1997 at such rates as were applicable to such vehicles from time to time.by order of the governor sd/-(g.l. gupta) deputy secretary to government.'(4). ..... pari/tax/hqrs/95/l6 jaipur, dated : 31st march, 97 notification in exercise of the powers conferred by clause (c) of sub sec. (1) of section 4 and section 4-b of the rajasthan motor vehicle taxation act 1951, (rajasthan act no. 11 of 1951) and in super session of all previous notifications issued in this behalf, the state government hereby, with effect ..... as the case may be. therefore, the second contention of-the learned counsel for the appellants that since the permits/authorisation issued to the appellants is not under sub-sec. (9) of sec. 88, notification dated 31st march, 1997 does not apply to the transport coaches plying within the state on its own force, is devoid of any substance and .....
Tag this Judgment!Court : Rajasthan
Reported in : (2004)186CTR(Raj)268; [2004]271ITR511(Raj)
..... the period ending on 31st march, 1989.'2. it is nobody's case that the newly inserted proviso vide the finance act, 1991 w.e.f. 1st oct., 1991 to section 272a(2) of the act has been given retrospective effect. in absence of any retrospective effect to such provisions, this newly inserted proviso cannot have any impact with regard ..... . while admitting this appeal on 27th nov., 2000, the court had framed following questions :'whether the newly inserted proviso vide the finance act, 1991 w.e.f. 1st oct., 1991 to section 272a(2) of the act is applicable to the respondent-assessee whose default relates to asst. yr. 1989-90 requiring the assessee to file returns on or before 30th april, 1989 for .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2006(4)Raj2970; 2006(4)WLC747
..... liability under income tax was considered in the said judgment and it was held that:under the scheme of the income-tax act, a liability to pay tax is incurred when according to finance act in force the amount of income, profits or gains is above the exempted limit. that liability to the state is independent ..... the petitioner shall be at liberty to raise the question of limitation as prescribed by section 74 of the act before the assistant registrar shall decide the question of limitation first and then proceed.in the result, the petition fails and is dismissed.6. ..... the order of remand as is made. learned single judge further observed that the application is moved for sanctioning or permitting to raise all the disputes under section 74 after the period of limitation is over. even this aspect will have to be taken into consideration before adjudicating the question regarding commencement of proceedings .....
Tag this Judgment!Court : Rajasthan
Reported in : [1970]76ITR212(Raj)
..... facts and in the circumstances of the case, the orders passed under section 23a of the income-tax act, 1922, as it stood after its amendment by the finance act, 1955, were orders of assessment and, therefore, subject to limitation prescribed under section 34(3) of the income-tax act, 1922?'2. in our opinion, the question must be answered in the ..... the company. the same happened in the assessment year 1956-57. the income-tax officer, a-ward, jaipur, took proceedings against the company under section 23 a(1) of the act in respect of both the assessment years and made an order in writing that the company was liable to pay super-tax at the rate of ..... jaipur, which were dismissed. then two separate appeals were filed before the tribunal. the tribunal held that the order under section 23a(1) having been passed beyond the period of limitation prescribed under section 34(3) of the act was not valid in law and the orders were, therefore, set aside. on the application by the commissioner of income- .....
Tag this Judgment!Court : Rajasthan
Reported in : 2000(116)ELT32(Raj); 2000(1)WLC29; 1999(1)WLN377
..... be levied at the rates prescribed in the first and second schedules and shall be collected in such manner as prescribed under the rules.6. by finance act, 1997, section 3a was introduced in the act empowering the central govt, to charge excise duty on the basis of capacity of production in respect of notified goods. this ..... of yarn or weaving of fabrics.'8. the central govt, framed rules for determination of annual capacity of production in exercise of powers conferred by sub-section (2) of section 3a of the act by notification no. 42/98, dated 10-12-1998. the relevant portions of this notification are reproduced hereunder :-'notification no. 42/98:in exercise of ..... types of manufacturers of the same goods of a certain specified description could be put in different classes for the purpose of charging excise duty under section 3 or section 3a of the act. as this point has not been specifically taken, it need not detain us.10. the notification no. 36/98 while specifying the rates of .....
Tag this Judgment!Court : Rajasthan
Reported in : (2006)204CTR(Raj)401; [2006]283ITR304(Raj); RLW2006(2)Raj1170; 2006(2)WLC111
..... placed before a.g.m. for the purpose of distributing its dividends. the object of insertion of section 115j initially w.e.f. 1.4.1988 by income tax act, 1961 and later on by introducing section 115ja w.e.f. 1.4.97 vide finance act, 1996 was to secure minimum tax on the basis of admitted profits earned by the company for the ..... purpose of distributing the dividends if the computation of income in accordance with the provisions of income tax act yields lesser income. the ..... officer.27. this court has an occasion to consider this aspect of the matter of computation of book profits under section 115j in d.b.i.t. appeal no. 1/2003 (rajasthan spinning & weaving mills v. dcit) decided on 21.7.2005. that was a case in which the assessing officer had made alterations in net profit shown by the assessee in .....
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