Judgment Search Results Home > Cases Phrase: finance act 2007 section 107 amendment of section 127k Court: orissa Page 2 of about 92 results (0.461 seconds)

Indian Metals and Ferro Alloys Ltd. Vs. Specified Authority and ors.

Court : Orissa

Reported in : [1984]149ITR418(Orissa)

..... the said sub-section provided that the specified authority after examining the proposed scheme of amalgamation and on being satisfied that ..... that effect in exercise of powers conferred under sub-section (1) of section 72a of the act. but before issuing the necessary declaration, the central government must be satisfied as to the fulfilment of the pre-conditions provided for in section 72a(1) (a), (b) and (c). sub-section (3) to section 72a was introduced by the finance act of 1978 with effect from may 12, 1978, and .....

Commissioner of Income-tax Vs. Ganeshram Nayak

Court : Orissa

Reported in : (1981)22CTR(Ori)132; [1981]129ITR43(Orissa)

..... . cit : [1973]90itr422(ker) and the other of the patna high court in the case of cit v. ram chandra singh : [1976]104itr77(patna) . 5. section 273 of the act, prior to its amendment by the finance act of 1969, read thus : ' false estimate of, or failure to pay, advance tax.--if the income-tax officer, in the course of any proceedings in connection ..... advance tax payable by him in accordance with the provisions of subsection (3) of section 212, he may direct that such person shall, in addition to the amount of tax, if any, payable by him, pay by way of penalty a sum--...... ' 6. after the amendment by the finance act of 1969, the provision now reads: ' if the income-tax officer, in the .....

ShamsuddIn Khan and anr. Vs. Commissioner of Income-tax

Court : Orissa

Reported in : AIR1958Ori143; 24(1958)CLT412; [1958]33ITR733(Orissa)

..... on that income depends on the provisions or the finance act which is an annual act fixing the various rates of income-tax and providing for exemption and deductions. section 3 of the income-tax act says that the tax shall be at a rate specified in the annual finance act. the finance act says that the tax shall be levied at the ..... their lordships had to construe the expression 'income chargeable to income-tax' occurring in section 34 of that act and they held that charge-ability of the income does not depend on the finance act, but entirely on the provisions of the income-tax act.they quoted with approval the well known federal court decision in chatturam v. commissioner ..... rate specified in the schedule to that act; and the schedule while specifying the rates payable on .....

Miss. Lopamudra Misra Vs. Assistant Commissioner of Income Tax and ors ...

Court : Orissa

Reported in : 2009(I)OLR844

..... income. it is further contended that the appellant having receipt the payment on 5.11.2000, the provision of section 115bb and the explanation-ii of section 2(24)(ix) came into effect only by way of promulgation of the finance act, 2001 w.e.f. 1.4.2002 and consequently, did not have retrospective effect.it further appears that the ..... inter alia, on the ground that the assessing officer was not justified in applying the provisions of section 115bb of the act and that the effect of amendment to section 2(24)(ix) where an explanation was added, vide explanation-ii by the finance act, 2001, came into effect only on 1.4.2002 for the first time, bringing the receipts from ..... this court, which came to be allowed by judgment and order dated 3.2.2009 and, therefore, the order of the tribunal dated 20.7.2007 passed under section 154 of the income tax act was quashed.5. in course of hearing the aforesaid writ application, the present appellant informed the court if the pendency of her appeal before this .....

Rajkumar Lakshminarayan Bhanja Deo Vs. Commissioner of Income-tax, Bih ...

Court : Orissa

Reported in : [1965]58ITR457(Orissa)

..... . section 13 of the finance act, 1950, is almost identical in language with section 7(1) of the act 67 of 1949 and their lordships observations (at page 473) that 'the effect of this provision was to repeal all laws relating ..... .but the observations of their lordships of the supreme court at page 473 in gwalior rayon silk manufacturing (wvg.) companys case regarding the effect of section 13 of the finance act, 1950, which was extended to madhya bharat (which was formerly under part b states) from april 1, 1950, will be of some help here ..... was published in the gazette on january 4, 1950. by virtue of that act the indian income-tax act, 1922, and the various finance acts and other taxation laws were extended to merged areas with retrospective effect from april 1, 1949. sub-section (1) of section 7 of that act was as follows (omitting the proviso :'(1) if, immediately before the 26th .....

Indian Metals and Ferro Alloys Ltd. Vs. Union of India (Uoi) and ors.

Court : Orissa

Reported in : [1992]195ITR539(Orissa)

..... bring it back to health, section 72a of the act was enacted. the section was inserted by the finance (no. 2) act, 1977, with effect from april 1, 1978. at the time of its insertion, it comprised sub sections (1) and (2) only. subsequently, sub-section (3) was inserted by the finance act, 1978, making it operative from ..... april 1, 1978. the object of introduction of the said section, as appears from the finance minister's introductory speech during presentation of the budget, was ..... to generate necessary financial resources to continue the business on an economical level. this lack of finance may be acting as a detriment. the central government and the specified authority, therefore, are required by section 72a to gauge whether the amalgamating company, immediately before its amalgamation, has resources to continue its .....

Southern Medical Specialities Ltd. Vs. Orissa State Financial Corporat ...

Court : Orissa

Reported in : AIR2006Ori175

..... petitioner as a collateral security and, as such, the state financial corporation is not authorized to seize or sell the same in exercise of power under section 29 of the act. the state financial corporation has reiterated the stand taken in the earlier writ petition o.j.c. no. 6758 of 1999. the corporation has taken ..... . the petitioner asserts that the opp. party no. 1 -corporation has no charge or lien over the aforesaid machine as it was not purchased with its finance, but instead it has seized the unit including the machinery belonging to the petitioner and advertised for sale. the petitioner therefore claims that since the machinery has ..... petitioner challenges the action of opposite party no. 1, the state financial corporation in inviting offer for sale of the machinery, which according to the petitioner, is neither financed nor hypothecated or mortgaged to it. according to the petitioner, opp. party no. 2 m/s. cdr medical industries ltd., hyderabad imported a 'whole body ct scanner .....

M/S.Tata Sky Ltd. Rep. Through Its M.D. and Ceo, S Vs. State of Orissa ...

Court : Orissa

..... provide dth broadcasting service in india.5. the dth services were brought within the purview of service tax with effect from 16th june, 2005 by the finance act, 2005. under section 65 (105) (zk) of the finance act, as amended, dth service is covered under the category of broadcasting service . and the service tax at the rate of 10.3% (including 0. ..... under entry-92c it narrows down the field of taxation available under entry 62 of list-ii. no state can levy entertainment tax on services covered under section 65(15) of the finance act, 1994 as amended from time to time in respect of the same taxable event, i.e., provision of broadcasting services under the guise of entertainment. ..... law and in another aspect constitute the notional or presumed income for the purpose of income tax. 42. in all india federation of tax practitioners v. union of india, (2007) 7 scc 527.the hon ble supreme court observed here under: 34. as stated above, entry 60, list ii refers to taxes on professions, etc. it is .....

Laxmi Narayan Agarwalla and ors. Etc. Vs. State of Orissa and ors. Etc ...

Court : Orissa

Reported in : AIR1983Ori210

..... , list i and entry 49 of list ii operate in different fields and enumerate distinct heads of power. lord thankerton observed in (1936) ac 352, in re section 3, finance act, (northern ireland), 1934:--'it is the essential character of the particular tax charged that is to be regarded, and the nature of the machinery, often complicated, by ..... jeejeebhoy v. province of bombay, air 1940 bom 65 (fb), the question was whether the urban immovable property tax levied by s. 22 of the amended bombay finance act, 1932 was beyond the powers of the bombay legislature, on the ground that it was essentially a tax on income, broomfield, j. observed:--'.......the main ground on ..... case (air 1982 sc 697) that the functions, powers and duties of municipalities did not become an occupied field by reason of the declaration contained in section 2 of the central act of 1957.'........ .though, therefore, en account of that declaration the legislative field covered by entry 23, list ii may pass on to the parliament .....

Mannalal Modi Vs. Commr. of Income-tax

Court : Orissa

Reported in : AIR1956Ori37; 21(1955)CLT441; [1956]29ITR30(Orissa)

..... was set aside by the income-tax appellate tribunal on 28-3-1942, on the ground that the indian finance act, 1939, was not in force duringthe assessment year 1939-40 in chota nagpur which was a partially excluded area. on a reference under section 66, the high court agreed with the view of the appellate tribunal by its judgment dated 30-9 ..... -1943. on 30-6-1942, bihar regulation 4 of 1942 was promulgated by which the indian finance act of 1939 was brought into force in chota nagpur retrospectively as from 30 .....