Judgment Search Results Home > Cases Phrase: finance act 2007 section 46 amendment of section 142 Court: kolkata Page 10 of about 741 results (0.130 seconds)

J. Thomas and Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (2004)190CTR(Cal)355,[2004]267ITR585(Cal)

..... a trading company but comes within 'any other case', there was no mistake apparent from the records which justified exercise of power under section 154 of the act. reference was made to the finance acts of the year 1984, 1985 and 1986 for contending that the assessee-company declared itself as a trading company from the year 1977-78 ..... cent, of the total income by treating it as within 'in any other case' mentioned in part iii, paragraph e, of the respective finance acts. subsequently, by proceeding under section 154 of the act the assessee was subjected to tax at 60 per cent, of the total income by treating it as a trading company mentioned in part iii, ..... was no question of estoppel in the case of the assessee for claiming itself to be not a trading company. it is contended that a separate finance act enforced each year provides for charging section separately, and, therefore, each year has to be considered separately.10. the contention has been made with regard to the said question no. 2 .....

Bhudharmull Ramchunder Vs. the Investigating Officer, Government of We ...

Court : Kolkata

Reported in : [1977]39STC184(Cal)

..... price of such containers or packing materials is not separately charged for by the dealers....5. in the premises, as mentioned hereinbefore, notice under section 14(1) of the bengal finance (sales tax) act, 1941, dated 15th january, 1971, was issued, which is the subject-matter of challenge.6. counsel for the petitioner contended that there ..... with all the supporting documents, relevant final accounts and balance sheet for the period from 1st july, 1969, to 14th march, 1970, under section 14(1) of the bengal finance (sales tax) act, 1941.2. the petitioner sells salt packed in gunny bags. according to the petitioner, the salt comes packed in gunny bags or loose ..... it was, inter alia, stated as follows:having taken into consideration the difficulties of the traders dealing in goods included in schedule i of the bengal finance (sales tax) act, 1941, government have been pleased to decide that, until further orders, no tax will be levied on sales of the containers and packing materials supplied .....

The Gift Tax Officer 'K' Ward and Anr. Vs. Kastur Chand JaIn

Court : Kolkata

Reported in : AIR1965Cal70,68CWN685,[1964]53ITR411(Cal)

..... the tax depend on the passing and application of the annual finance act. thus, income is chargeable to tax independent of the passing of the finance act but until the finance act is passed no tax can be actually levied. a comparison of sections 3 and 6 of the act shows that the act recognises the distinction between the chargeability and the actual operation of ..... business lines on the basis of a hypothetical sale to a buyer in the open market accordingly, under section 7 (5) of the english finance act 1894 and in the absence of supplementary provisions corresponding to section 6(3) of the gift tax act and rule 10(2) of the gift tax rules, it was held that where the articles of ..... in the previous year * * * it is by virtue of this section that the actual levy of the tax and the rates at which the tax has to be computed is determined each year by the annual finance acts. thus, under the scheme of the income-tax act, the income of an assessee attracts the quality of taxability with reference to .....

Commissioner of Income-tax Vs. Nawn Estate Private Ltd.

Court : Kolkata

Reported in : [1972]86ITR300(Cal)

..... considering the expression ' income received from investments' in the finance (no. 2) act, 1939, for imposition of excess profits tax. section 12 of the 1939 act dealt with 'profits arising in any chargeable accounting period from any trade or business to which this section applies'. sub-section (4) of section 12 said :'where the functions of a company or ..... the persons carrying on the business are beneficially entitled.' 11. incidentally, the provisions of section 12(4) of the english finance (no. 2) act, 1939, were the same as those in the first proviso to section 2(5) of our excess profits tax act of 1940, and lord greene m. r. in construing the word 'investment' in ..... it seems to me reasonably clear that rents from leases or under-leases can properly, in suitable circumstances, be comprised within the phrase ' income from investments' in the finance (no. 2) act, 1939.'16. scott l.j. at page 610 has described the sub-lease which the broadway car co. has granted, in these words :' . , . . .....

Commissioner of Income-tax Vs. Plastica Moulders (P.) Ltd.

Court : Kolkata

Reported in : [1982]134ITR114(Cal)

..... bench of the madras high court in the case of george oakes p. ltd. v. cit : [1966]60itr710(mad) . there clause (b) of section d of part ii of schedule i to the finance act, 1956, was to be attracted if there was a distribution of dividend during the previous year in excess of the six per cent. of the paid ..... year 1956-57, the requirements of clause (b) of part ii-d of schedule i to the finance act, 1956, were satisfied. though the declaration of dividend was made under a direction under section 23a, it was actually covered by the second proviso to that section and the withdrawal of rebate on super-tax was, therefore, justified. 8. in this connection, reference ..... private limited company engaged in the manufacture of plastic goods. the provisions of section 104 of the i.t. act apply in the case of the assessee. there is also no dispute that according to sub-el. (b) of clause (c) of the second proviso to paragraph f of the finance act, 1965, its rebate from tax was liable to reduction @ 7.5 .....

Commissioner of Wealth-tax Vs. Surendra Paul

Court : Kolkata

Reported in : (1987)61CTR(Cal)244,[1987]168ITR208(Cal)

..... ,01,200 arising on the basis of the disclosure made by the firm of aminchand pyarelal, of which the assessee is a partner, under section 68 of the finance act, 1965, and under section 24 of the finance (no. 2) act, 1965, have to be deducted from the net wealth of the said firm in respect of the assessment years 1960-61 to 1965-66 ..... the case, the tribunal was right in law in holding that the personal income-tax liabilities of rs. 90,000 arising from the disclosure made by the assessee under section 68 of the finance act, 1965, would be deductible in computing the net wealth of the assessee in respect of the assessment years 1963-64 to 1966-67?'5. so far as the ..... individual, hindu undivided family and company but not by a firm.10. the tribunal held that as a firm was not an assessee within the meaning of the wealth-tax act, therefore, section 7(2)(a) would not be applicable in determining the net wealth of the firm and, therefore, for determining the value of the interest of a partner in the .....

Bengal Investments Limited Vs. Assistant Commissioner(Tarc) Service Ta ...

Court : Kolkata

..... erred in passing the order. mr.bharadwaj, learned advocate for the respondent, submits that since the appellant had preferred statutory appeal on merits under section 85 of the finance act, 1944 beyond the period of limitation, in view of the principle of law laid down in the unreported judgment delivered on 16th august, 2015 ..... before the appellate tribunal, being, the customs central excise and service tax appellate tribunal, east regional bench at kolkata. the tribunal while referring to section 85 of the finance act, 1994 and relying on the judgment of the supreme court rendered in m/s.singh enterprises versus commissioner of central excise, jamshedpur & ors.reported in ..... a demand of rs.6,86,841/-. nevertheless, being aggrieved, the writ petitioner preferred an appeal before the commissioner of central excise (appeal) under section 85 of the finance act, 1994, on 30th of june, 2013, i.e.much beyond the period of limitation, as prescribed under the statute. the petitioner however, made .....

income-tax Officer Vs. Kenaram Saha and Subhash Saha and

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)301ITR171(Kol.)

..... business transactions and to prevent the use of unaccounted money or reduce the chances to use black money for business transactions.47. after the amendment in section 40a(3) by the finance act, 1995 with effect from april 1, 1996, and the amendment in rule 6dd of the income-tax rules by the income-tax (fourteenth amendment) ..... jangipur giving direction to the assessee to make the payment in cash.however, it was pointed out by the learned departmental representative that these supply orders are dated 2007 and, therefore, will not be applicable to the year under consideration. what was the exact direction of the supply order in the accounting year relevant to/ ..... and supplies, government of west bengal, which is enclosed by the assessee's learned counsel with his written submission, and contended that such allotment letters are of 2007 and, therefore, not relevant to the year under appeal. in view of the above, it is submitted by the learned departmental representative that the order of the .....

Sudipto Sarkar Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2006)101ITD229(Kol.)

..... trade, but does not include expenditure on food or beverages provided by the assessee to his employees in office, factory or other place of their work.the finance act, 1992 has substituted sub-section (2) for sub-sections (2) and (2a) with effect from 1.4.1993 provides a quantum of disallowance. the new provision provides that deduction on account of entertainment expenditure shall ..... the aforesaid decisions relied on by the ld. counsel for the assessee arc prior to the substitution of sub-section (2) of section 37 of the income-tax act by the finance act, 1992 with effect from 1.4.1993 and later on amended by the finance act, 1994 with retrospective effect from 1.4.1993, therefore, in view of the non obstante clause provided in sub ..... .32 rs. 28,69,679.002004-2005 rs. 1,35,56,225.00 rs. 33,87,834.002005-2006 rs. 1,74,33,890.00 rs. 47,98,622.002006-2007 rs. 1,77,89,481.22 5.3 at this stage the ld. counsel for the assessee has also placed on record the following graphics: 5.4. in the light .....

M/S.Srei Infrastructure Finance Ltd. Vs. Dy.Commissioner of Income Tax ...

Court : Kolkata

..... by an additional surcharge, for purposes of the union, to be called the education cess on income tax, .. (d) sub-section 12 of section 2 of the finance act, 2008 provides, inter alia as follows: the amount of income tax as specified in sub-sections (1) to (10) and as increased by a surcharge, for purposes of the union, calculated in the manner provided therein ..... the income-tax rules, at the relevant time (i.e.before april 1, 2007).provided for set off of the mat credit balance against the amount of tax plus interest i.e.after the computation of interest under section 234b. this was directly contrary to a plain reading of section 115jaa(4).further, a form prescribed under the rules can never have any .....