Court : Rajasthan
Reported in : AIR1951Raj94a; [1951]20ITR214(Raj)
..... property are liable & how the tax is to be recovered but assessment is settled under the finance act which is the annual act & only determines the rate. section 67-b, income-tax act, provides for the contingency if in any year the finance act is not passed by 1st of april or no provision is made therein for the charging of ..... , the petnr. must be held to be immune from liability to assessment on the income of that year.15. the relevant section which calls for a careful consideration is section 2 (14a), income-tax act, as amended by the finance act of 1950, which defines 'taxable territories', & is as under :' 'taxable territories' means -(a) as respects any period ..... chargeability is left to arise by some other law, & that law is the previous state law referred to in section 13, finance act, 1960. it arises in a twofold manner. in the first place, under section 6, general clauses act, the repeal of the state law as from 1-4-1950 did not affect any liability incurred under the repealed .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1960Raj92
..... rajasthan and the liability to indemnify had devolved on the state of rajasthan the agreement would have become frustrated within the meaning of section 56, contract act, on the coming into fores of the finance act, 1950, because the consideration for the agreement namely payment of 7 1/2 per cent on the net profits became irrecoverable ..... that statute and the provisions of the constitution.(2) assuming the agreement to be special law it was repealed by section 30 of the rajasthan excise duties ordinance, 1949, and by section 13 of the finance act.45. in every view of the case therefore i find that the agreement dated 17-4-41 is not enforceable ..... 291, 295 and 306 of the constitution. in pursuance of the agreement the central excises and salt act, 1944, was extended to rajasthan under section 11 of the finance act, 1950 and the rajasthan excise duties ordinance, 1949 was repealed under section 13. the union government started recovering excise duty from the laintiff with effect from 1-4-1950 .....
Tag this Judgment!Court : Rajasthan
Reported in : 2005(103)ECC152; 2005(186)ELT3(Raj)
..... of goods in force on the date when the bill of entry is presented before competent authority before goods are cleared from warehouse under section 68.35. until section 15(1)(b) was amended vide finance act, 2003, the rate of duty and valuation of tariff was to be done as per the date on which goods stored in ..... margin of dumping in relation to such articles may be determined and for the assessment and collection of such anti-dumping duty. sub-section (8) was inserted vide finance act, 2000 extending the provisions of the customs act, 1962 and the regulations made thereunder relating to non-levy, short levy refunds and appeals shall, as far as may be, ..... impost on territorial product, special duty on imports from peoples republic of china was levied by inserting section 8c w.e.f. 11-5-2002 vide finance act, 2002. all these new duties have come to be incorporated in the act of 1975 as a result of obligation arising under international treaties and trade agreements at the international forums .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1953Raj145
..... kishangarh is_ manufacturing cotton cloth at kishangarh in the state of rajasthan. the central excises and salt act, 1944, was extended to the state of rajasthan by section 11, finance act, 25 of 1950, from 1-4-1950, and the necessary rules under that act also came into force from the said date. the superintendent of central excise, jaipur circle, jaipur ..... agreement, the union of india must be deemed to have taken over all current outstandings of cotton excise duties on 1-4-1950, when the finance act brought the central excises and salt act of 1944 into operation into rajasthan. it must, however, be remembered that the report was .made in 1949 in the shape of recommendations, and ..... . the question then is whether the (outstandings on 1-4-1950, would be transferred to the union government after the finance act of 1950 came into force on the 1st april. there is nothing in the finance act of 1950, which specifically transfers the arrears due up to 1-4-1950, to the union government.9. reliance in .....
Tag this Judgment!Court : Rajasthan
Reported in : (1997)139CTR(Raj)540
..... -contractors : (1) any person responsible for paying any sum to any resident (hereinafter in this section referred to as the contractor) for carrying out any ..... which led to the present controversy. sec. 194c of the act making provision for deduction of the tds from the payment made to the contractors and sub-contractors in certain cases, was originally inserted by the finance act, 1972 w.e.f. 1st april, 1972 and the amended section reads as under :'sec. 194c. payment to contractors and sub ..... s. 194c. after the addition of expln. (iii) the compliance of s. 194c is being made by the petitioner. the expln. (iii) added by the finance act of 1995 is merely clarificatory in nature. even otherwise, without this expln. (iii) the carrying of business of transportation of cement from the factory of the petitioner to .....
Tag this Judgment!Court : Rajasthan
Reported in : (1998)144CTR(Raj)336
..... circular dt. 23rd february, 1996, the it authorities have reopened the assessments against the petitioner and in some of the matters, have issued fresh assessment orders.2. by the finance act, 1997, a proviso to sub-s. (2) of s. 44ad has been added giving retrospective operation w.e.f. 1st april, 1994 i.e., asst. yr. ..... is comprehensive. all deductions under ss. 30 to 38 including depreciation, will be deemed to have been already allowed and no further deduction will be allowed under these sections. the written down value will be calculated, where necessary, as if depreciation as applicable has been allowed. in the case of firms, the normal deductions to ..... is comprehensive. all deductions under ss. 30 to 38 including depreciation, will be deemed to have been already allowed and no further deduction will be allowed under these sections. the written down value will be calculated, where necessary, as if depreciation as applicable has been allowed. in the case of firms, the normal deductions to .....
Tag this Judgment!Court : Rajasthan
Reported in : (2003)179CTR(Raj)432; [2003]260ITR41(Raj)
..... but for the purpose of meeting the expenses wholly, necessarily and exclusively incurred in the performance of duties. as a result of amendment of section 10(14)(i) by the finance act, 1995, referred to above, such special allowance or benefit has to be prescribed by the board by framing a rule in that regard. ..... profit, for the purposes of the said sub-clause for the for the assessment year 1989-90 and subsequent assessment years.'22. there was further amendment in the finance act, 1995, with effect from july 1, 1995, which substituted the words 'as may be prescribed' for the expression 'as the central government may, by notification, ..... board of direct taxes circular dated november 28, 1986, has accepted the position that the additional conveyance allowance would be treated as exempt under section 10(14) of the act, provided that a certificate is issued by the life insurance corporation to the effect that additional conveyance allowance was granted to the concerned development officer .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR2001Raj170; [2001]106CompCas629(Raj); 2001(2)WLC79; 2003(1)WLN620
..... industrial and investment corpn. of maharashtra (6). it stated in relation to that case 'where there was inconsistency between two special laws, the finance corporation act, 1951 and the sick industrial companies (special provisions) act, 1985. the later contained section 32 which gave overriding effect to its provisions and was held to prevail over the former. it was pointed out by ahmadi j., that ..... derogation if, the industrial finance corporation act, 1948 (15 of 1918), the state financial corporations act, 1951 (63 of 1951), the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india act, 1984 (62 of 1984), and (the sic industrial companies (special provisions) act, 1985 and the small industries development bank of india act, 1989)' section 4 of the rru act; '4. power to .....
Tag this Judgment!Court : Rajasthan
Reported in : (1996)132CTR(Raj)134; [1997]225ITR468(Raj)
..... (see [1990] 186 itr 81), dated august 3, 1990, issued in this regard reads as under (at page 100) :'explanatory notes on the provision of the finance act, 1990.--modification of provisions relating to exemption of income from exports.--27. at present exporters are given incentives by way of cash compensatory support (ccs), drawback of duty ..... the taxing provision regarding the taxability of these incentives received by the exporters, new clauses (iiia), (iiib) and (iiic) have been inserted in section 28 of the income-tax act to provide that the profit on sale of import entitlement licences, ccs and drawback of duty respectively shall be chargeable to income-tax under the head ..... the case. the law has been amended with retrospective effect from the dates from which these incentives were introduced. in view of the amended provisions of section 28 of the act relating to exemption of income from exports (item no. 27.2 above), this question is also answered in favour of the revenue and against the .....
Tag this Judgment!Court : Rajasthan
Reported in : (2007)209CTR(Raj)143; [2007]288ITR116(Raj)
..... proceeds of such goods or merchandise exported out of india must be receivable by the assessee in convertible foreign exchange.32. however, vide the finance act, 1990, certain changes were made in sub-section (2)(a). the word 'receivable' was substituted by the words 'received in, or brought into, india'. this substitution was made effective ..... such goods or merchandise.26. thus the formula of quantifying deduction was changed.27. yet again vide the finance act, 1988 sub-section (1) of section 80hhc was substituted with effect from april 1, 1989. the substituted sub-section (1) provides that where an assessee being an indian company or a person (other than a company) ..... when the assessment year commenced on april 1, 1989, clauses (iiia), (iiib) and (iiic) had not been inserted in section 28, but the same have been inserted with retrospective effect vide the finance act, 1990, which reads as under:28. the following income shall be chargeable to income-tax under the head 'profits and .....
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