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Commissioner of Income Tax, Jalpaiguri Vs. Om Prakash Mittal

Court : Supreme Court of India

Reported in : (2005)194CTR(SC)97; 2005(184)ELT3(SC); [2005]273ITR326(SC); JT2005(2)SC538; (2005)3MLJ48(SC); (2005)2SCC751

..... by the amount of tax calculated on the total income assessed in the earlier proceeding for assessment under section 143 or section 144 or section 147'. (underlined for emphasis) 11. prior to substitution by finance act, 1987 w.e.f. 1.6.1987, the proviso to sub-section (1) read as follows:'provided that no such application shall be made unless the additional amount of income ..... word 'fifty thousand rupees' in the earlier proviso has been substituted by the expression 'one hundred thousand rupees' by the finance act, 1995 w.e.f. 1.7.1995. some changes were introduced by finance act, 1987 w.e.f. 1.6.1987 in sub-section (1b) and (1c) which do not have much importance for the present appeal.12. the commission is not bound .....

Commissioner of Income-tax Vs. Official Liquidator, Palai Central Bank ...

Court : Kerala

Reported in : [1979]49CompCas268(Ker); [1979]117ITR676(Ker)

..... liquidator was dividend. even after the amendment by the finance act, 1955, the language of the clause was found to be somewhat inapt and the legislature, by the finance act, 1956, recast clause (c)...11. the language used by the legislature in section 2(6a)(c), as amended by the finance act, 1956, is fairly clear. there is in the ..... wound up could not be included in the expression ' dividend ' : [see seth haridas achratlal v. commissioner of income-fax : [1955]27itr684(bom) ]. by the finance act, 1955, the proviso to clause (c) was deleted and in consequence thereof the limitation relating to the period during which the profits were accumulated ceased to apply in the ..... 2 kb 52 (ca) was got over under the indian i.t. act, 1922, by the amendment effected by the finance act, 1956, to the provisions of the indian i.t. act, 1922. there is no such corresponding amendment to the provisions of the super profits tax act. in this view again, the reasoning of the tribunal, following the principle .....

Commissioner of Income-tax Vs. Vrindavan Hotels (P.) Ltd.

Court : Kerala

Reported in : (1998)149CTR(Ker)220; [1999]238ITR224(Ker)

..... company, because the activity of conversion of raw materials into food in a hotel does not amount to manufacture or processing of goods within the meaning of section 2(7)(c) of the finance act, 1979, and, therefore, a hotel is not entitled to concessional rate of tax as specified under clause 2(i)(a) of paragraph e of schedule ..... in a hotel, would constitute 'manufacture or processing of goods' within the meaning of section 2(6)(d) of the finance act, 1968. an industrial company engaged in the manufacture or production, was liable to tax at a lesser rate under section 2(6)(d) of the finance act, 1968. this court, reviewing the entire case law germane on the point held in ..... i to the finance act, 1979.4. from these authorities, it is amply clear that this court has discussed the question threadbare whether a hotel is an industrial undertaking, engaged in the .....

In Re: Wood Polymer Limited; in Re: Bengal Hotels Pvt. Ltd.

Court : Gujarat

Reported in : [1977]109ITR177(Guj)

..... companies is beneficial owner of not less than 90 per cent. of the issued share capital of the other company. by section 50(1) of the finance act, 1938, it was provided that section 42 of the finance act, 1930, shall not apply unless it is shown to the satisfaction of the commissioners of inland revenue that the instrument was ..... was made to escoigne properties ltd. v. inland revenue commissioners [1958] ac 549 (hl). section 42 of the finance act, 1930, granted exemption to stamp duty on an instrument to which the section applied. one such instrument comprised in the section was where there was conveyance or transfer of beneficial interest in property from one company with limited ..... a question arose whether certain instruments were exempt from payment of stamp duty as they would fall under section 42 of the finance act, 1930. rejecting the claim for exemption from stamp duty it was held that the object of section 50 was to put a stop to that device; and it succeeded. if that meaning is not .....

Gannan Dunkerley and Co. (Madras) Ltd. Vs. State of Madras

Court : Chennai

Reported in : AIR1954Mad130

..... on a sinking fund policy. the question that arose for decision was whether the company was carrying on 'trade' or 'business' within the meaning of the finance act of 1915, section 39. the court of appeal held that the company did carry on trade or business and was, therefore, liable to be assessed to excess profits duty under ..... the finance act.lord sterndale m. r. at p. 272 considered the meaning of the word 'business' used in the finance act, section 39 and according to the learned master of rolls, the word denotes trade or business of any description carried on ..... and that even holding-company, which does not do any active business but only indulges in passively carrying on business, may yet be doing 'business' within the meaning of the finance act.42. a. lewis and co. (westminster), ltd. v. bell property trust ltd.', 1940 1 ch 345 (z3), is an interesting case. the question dealt with was .....

Smt. P. Balammal Vs. Controller of Estate Duty

Court : Chennai

Reported in : [2002]125TAXMAN562(Mad)

..... the net wealth of the assessee. the following observation of the supreme court is relevant for the purpose of this case :'the declaration contemplated under section 68 of the finance act, 1965, is a declaration in respect of income of earlier years which had been concealed and on which tax was payable during the relevant assessment ..... the income at the appropriate time and evaded tax did not mean that he was not liable to pay tax. the court also held that section 68 of the finance act, 1965 under which the declaration was made prescribed the procedure for assessment of the concealed income but the liability was held to be deductible as a ..... principles laid down in ahmed ibrahim sahigra dhoraji's case (supra) and held that there are no distinguishable principles in section 68 of the finance act, 1965 and the voluntary disclosure of income and wealth ordinance act, 1975 in spite of certain dissimilarities, but the objects of both the schemes are to encourage disclosure of concealed income .....

Daulatram Rawatmull Vs. Commissioner of Income-tax, Central

Court : Kolkata

Reported in : AIR1967Cal547,[1967]64ITR593(Cal)

..... commr. of income-tax, : air1954bom234 .' 34. the rest of the judgment of the gujrat high court deals with the effect of the amendment made in section 34 by the finance act, 1966, with which we are not concerned in the instant case. we have dealt with the judgment of the gujrat high court at great length because the learned ..... the gujrat high court was not the same as the question before us. the gujrat high court, however, considered the legal position prior to the amendment of section 34 by the finance act, 1956. it is for this reason that the decision of the gujrat high court calls for careful consideration. 27. the learned judges of that high court ..... the notice in that case was issued under clause (a) of sub-section (1) of section 34 on 31st january 1962, and the question for consideration was whether after the amendment by the finance act, 1956, a notice could be issued under clause (a) of sub-section (1) of section 34 for reopening any assessment for any of the assessment years covered .....

Commissioner of Income-tax Vs. Thangamaligai and Co.

Court : Chennai

Reported in : [2000]241ITR525(Mad)

..... rejected as a question of fact and hence this question cannot be referred.4. sub-section (3a) of section 37 of the income-tax act, 1961 (act no. 43 of 1961-for short 'it act'), which was inserted by the finance act, 1983, with effect from april 1, 1984, and omitted by the finance act, 1985, with effect from april 1, 1986, reads as under :'(3a) notwithstanding anything contained in ..... such excess shall not be allowed as deduction in computing the income chargeable under the head 'profits and gains of business or profession'.'5. sub-section (sb) of section 37 thereof, inserted by the finance act, 1983, with effect from april 1, 1984, and omitted by the finance act, 1985, with effect from april 1, 1986, reads as under :'(3b) the expenditure, referred to in sub .....

Ms.Thanjavur Textiles Ltd. Vs. the Joint Commissioner of Income Tax

Court : Chennai

..... 306 (commissioner of income tax kolkata iii v. alom extrusions limited), wherein the supreme court had considered the effect of the omission of the second proviso to section 43 b of the income tax act under finance act, 2003, as having retrospective effect from 1.4.1988, he submitted that going by the deposit made in the separate account, which cannot be in any ..... the decision reported in (2009) 319 itr 306 (commissioner of income tax kolkata iii v. alom extrusions limited) the apex court pointed out that the object of section 43 b, inserted under the finance act 1983, with effect from 1.4.1983, was to disallow deduction claimed merely by making a book entry based on mercantile system of accounting. referring to the deletion .....

Chemical De Universe (P.) Ltd. Vs. Deputy Commissioner of Income-tax.

Court : Delhi

Reported in : [1995]55ITD144(Delhi)

..... public charitable trust v. cit : [1984]146itr9(guj) . while interpreting the provisions of section 35cca of the act, their lordships held as under (head note) :'under the new section 35cca of the i.t. act, 1961, as amended by the finance act, 1983, an assessed will be entitled to deduction of expenses incurred on account of donation made ..... can issue the certificate only if it is authorised in that behalf by the prescribed authority. under the old section 35cca as enacted w.e.f. june 1, 1978, before its amendment by the finance act, 1983, an assessed was entitled to claim deduction of expenses incurred on account of donations to any institution or ..... does not envisage renewal of the approval to the institution and/or the programme.'thus the scope of section 35cca as originally inserted by the finance act, 1978 and effect of amendment made by finance act, 1983 has been explained by their lordships of gujarathigh court as stated above. the proposition that underlying object is the carrying .....