Judgment Search Results Home > Cases Phrase: finance act 2007 section 47 amendment of section 143 Court: punjab and haryana Page 2 of about 477 results (0.108 seconds)

Ram Gopal Mola Ram and ors. Vs. Commissioner of Income-tax and anr.

Court : Punjab and Haryana

Reported in : AIR1966P& H540; [1967]64ITR419(P& H)

..... coming to the conclusion that the claim of the appellants was time-barred.11. the learned counsel for the respondents also contended that if by section 13 of the finance act, 1950, the jaipur act was completely repealed except for the purposes of levy, assessment and collection of income-tax and super-tax', then on the basis of the ..... and, consequently, the amount claimed had lapsed to the government. the first problem, therefore, to which i have to direct my attention is the scope of section 13 of the finance act, 1950. when united state of rajasthan came into being in april, 1949, it provided for the continuance of all existing laws till they were repealed or amended ..... 26th january, 1950, the part b state of rajasthan emerged as the successor state comprising of all the former rajasthan states. on 31st march, 1950, the finance act of 1950 was passed, section 13 whereof was in the following terms :'13. (1) if immediately before the ist day of april, 1950, there is in force in any part .....

industrial Finance Corporation of India and anr. Vs. Sehgal Papers Ltd ...

Court : Punjab and Haryana

Reported in : AIR1986P& H21

..... of the constitution. if so, its effect? opd. 5. whether issues no. 4 can be decided by the court while dealing with the petitioners under section 30 of the industrial finance corporation act? opp. 6. whether the present petition is male fide for reasons mentioned in paras 2(m) and 2 (t) of the written statement. if so ..... .1 is a public limited company and is engaged in the business of manufacturing and processing of paper, pulp, etc. and is an industrial finance corporation act ( hereinafter referred to as corporation act). respondent nos. 2 to 4 are the other financial institutions and respondent nos. 5 and 6 the banks, which along with petitioners no. 1 ..... into consideration all the circumstances it cannot be held that the petitioners-institution was responsible to close the factory. 8. it is true that mr. vankatachalam, finance director who was acting as such at the instance of the institution, vide letter dated 27th august, 1980, ex. p. 94 wrote to the petitioners that an extra amount of .....

Commssioner of Income Tax Vs. Haryana Minerals Ltd.

Court : Punjab and Haryana

Reported in : [2009]313ITR318(P& H)

..... 85 it was held that the benefit of amendment made in section 80hhc by finance act no. 2 of 1991 could not have been extended to the assessee in relation to the assessment year 1984-85. the position would not be different with ..... revenue and against the assessee. in that regard again reliance was placed on the judgement in the case of m/s gem granites (supra) wherein section 80 hhc(unamended) alongwith the amendment made by finance act no. 2 of 1991 was considered. applying the ratio of the judgement of hon'ble the supreme court in respect of the assessment year 1984- ..... :. it is sufficient to mention that the cit(appeals) as well as the tribunal have treated the provisions of the amended section 80hhc of the act applicable to the case of the assessee as if the amendment made by finance act no. 2 of 1991 was retrospective. this has to be treated as legally unsustainable in view of the law laid down .....

Bharat Fire and General Insurance Ltd. Vs. Commissioner of Income-tax, ...

Court : Punjab and Haryana

Reported in : [1966]61ITR263(P& H)

..... undistributed balance of the total income of the previous year. this amendment in section 23a was brought about by section 15 of the finance act, 1955. section 20 of the said finance act specified the dates regarding the commencement of amendments to the income-tax act. sub-section (1) of section 20 provided that, save as otherwise expressly provided, the amendments to the ..... far as the shareholders are concerned their liability to pay additional tax had already come to an end from the date the amendment in section 23a came into force by the finance act of 1955. by the 1957 amendment the legislature was only altering certain rights and obligations of the companies and were not concerned with ..... about by the amendment in 1957, but so far as the shareholders are concerned the position continued to be the same as under section 23a after its amendment by the finance act of 1955. in short the amendment in 1955 had done away with the liability of the shareholders to pay tax on notional dividend .....

Commissioner of Income-tax Vs. Beco Engineering Co.

Court : Punjab and Haryana

Reported in : [1998]232ITR102(P& H)

..... the legislature intervened with a view to redress the hardship of taxpayers and amended section 34(3)(a) by section 11 of the finance act, 1990. section 11 of the finance act, 1990, reads as under (see [1990] 184 itr 5 ) :'11. amendment of section 34. in section 34 of the income-tax act, in sub-section (3), in clause (a),-- (i) for the words 'the relevant ..... by the supreme court in shri shubhlaxmi mills' case [1989] 177 itr 193, is of no assistance to the revenue. the effect of amendment of section 34(3)(a) by section 11 of the finance act, 1990, was considered by the allahabad high court in cit v. raza buland sugar co. ltd. : [1993]202itr191(all) . it was held ..... to be actually allowed is debited to the profit and loss account of the relevant previous year and credited to a reserve account. the finance act, 1966, by inserting an explanation in section 34 allowed the creation of such a reserve out of the profits or reserves of earlier previous years also. further, the central board of .....

Commissioner of Income-tax Vs. Bhan Singh Boota Singh

Court : Punjab and Haryana

Reported in : [1974]95ITR562(P& H)

..... 1971] 79 i.t.r. 28 (all.). of course, the learned judges of the allahabad high court proceeded on a different ground, namely, that the change in section 271 by the finance act of 1964 was merely a change in the matter of onus and did not affect the substantive rights of the assessee. however, a contrary view has been taken by ..... far as the department is concerned, is necessarily by a return. if the return had been filed before the 1st of april, 1964, obviously the provision of section 40 of the finance act of 1964 would not have come into play. this is conceded by the learned counsel for the department. but, in the present case, the return was filed on ..... the 9th of april, 1964, when the provision of section 271, as they emerge after the finance act of 1964, had come into operation. therefore, those provisions must govern the case because the concealment would be when the return is filed, and not prior .....

Present : Mr. Sanjay Bansal Senior Advocate with Vs. the Assistant Com ...

Court : Punjab and Haryana

..... registered as a charitable trust. the argument of the revenue before the supreme court in respect of the provisions of sub-section (4a) as inserted vide finance act, 1983 and also the substituted sub-section (4a) inserted by finance act no.2 of 1991 was as under: 20. this brings us to the second controversy, relevant to assessment years 1984 ..... 1992-93.4. the basis of the notices issued to the petitioner is insertion of sub-section (4a) in section 11 of the act by finance act, 1983 w.e.f. 01.04.1984. sub-section (4a) has been again substituted by finance (no.2) act, 1991 w.e.f. 01.04.1992. the relevant statutory provisions before insertion/substitution and after ..... ltd. vs. income tax officer, companies district i, calcutta & another 1961 (41) itr 191.assistant commissioner of income tax vs. rajesh jhaveri stock brokers(p) ltd. (2007) 291 itr 50.& commissioner of income tax vs. kelvinator of india ltd. (2010) 320 itr 56.apart from the judgment of this court in vipin khanna vs. commissioner .....

Commissioner of Income-tax Vs. Salig Ram Prem Nath

Court : Punjab and Haryana

Reported in : [1985]153ITR234(P& H)

..... satisfactorily ?' 5. we have heard the learned counsel for the parties. as far as the 15 persons, who had themselves declared their respective incomes under section 24 of the finance (no. 2) act, 1965, totalling to rs. 1,08,000, are concerned, the matter admits of no difficulty. these persons have themselves made the necessary declarations and ..... questions of law for our opinion :'1. whether, on the facts and in the circumstances of this case, and on a true interpretation of section 24 of the finance (no. 2) act, 1965, the appellate tribunal was right in law in holding that after having accepted the voluntary disclosures of the various creditors holding cash credits totalling ..... to explain the nature and source of these deposits, the assessee stated that they were made by these persons who had made voluntary disclosures under section 24 of the finance (no. 2) act, 1965, on march 2, 1966, before the cit and had paid tax thereon. the ito was not satisfied with the explanation given or .....

Niemla Textile Finishing Mills P. Ltd. Vs. Income-tax Officer and Anot ...

Court : Punjab and Haryana

Reported in : (1985)45CTR(P& H)263; [1985]152ITR429(P& H)

..... raw materials in a hotel would not constitute either a 'manufacture' or 'processing' of goods within the meaning of s. 2(6)(d) of the finance act of 1968. it was held that unless a commercially new different article is produced, the process could not be called a manufacturing process.whilst considering the authorities ..... development on sound and balanced lines of these industries was sought to be secured by the licensing of all new undertakings by the central government. section 2 of the act declared that it was expedient in public interest that the union should take under its control the industries specified in the first schedule. the relevant ..... , namely, woollen, cotton, synthetic fabrics, etc. under s. 280zb of the i.t. act, 1961 (hereinafter referred to as the 'act'), the petitioner company is entitled to tax credit certificate after the conditions as enshrined in the aforesaid section are fulfilled. the petitioner company is to pay tax for the assessment year commencing from april 1 .....

Commissioner of Income-tax Vs. Kartar Singh and Co. P. Ltd.

Court : Punjab and Haryana

Reported in : (2009)221CTR(P& H)479; [2008]300ITR440(P& H)

..... that no tax or refund was due from him after making such adjustments. with effect from april 1, 1998, the second proviso to section 143(1)(a) was substituted by the finance act, 1997, which was operative till june 1, 1999. the requirement was that an intimation was to be sent to the assessee whether or ..... return and making the permissible adjustments only. as a result of insertion of the explanation to section 143 by the finance (no. 2) act of 1991 with effect from october 1, 1991, and subsequently with effect from june 1, 1994, by the finance act, 1994, and ultimately omitted with effect from june 1, 1999, by the explanation as ..... ble supreme court in the case of assistant cit v. rajesh jhaveri stock brokers p. ltd. : [2007]291itr500(sc) . two expressions 'assessment' and 'intimation' have been interpreted by their lordships as used in section 143(1)(a) of the act. the aforementioned exposition of law has flowed from the amendment substituting the word 'intimation' for 'assessment' .....