Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Oct-31-1955
Reported in : 195629ITR672(Coch.)
..... respondent income tax authority, in the circumstance at that stage.9. we will now proceed to examine the provision of the finance act relied on by the department for the exercise of their jurisdiction under section 35 of the income-tax act. the finance act (xxxix of the 1952) which governed the instant assessment did no bring about any change in the financial structure that ..... existed in the previous year. we have therefore the to refer to the provision of the finance act (xxiii as 1951) as suitably modified with the reference to section 2 of the finance act (xxix of 1952). part 1 of the first schedule to the finance act (xxiii of 1951) may be taken therefore to have provided for the rate of income-tax which ..... was to be charged as per section 2 of the finance act (xxix of 1952). item b of the part dealt with the case of companies. the normal rate of income-tax was fixed as 4 anna in the rupee on .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Decided on : Apr-12-1955
Reported in : 195629ITR206(Hyd.)
..... b states) (removal of difficulties) order, 1950, is not valid under section 60a of the indian income-tax act, we should consider it as an order made under section 12 of the income-tax act, we should consider it as an order made under section 12 of the finance act. we have considered this aspect of the matter in the aforementioned case and ..... added reason for declaring the explanation to be bad is that it is not permissible for the central government in exercise of the powers under section 60a to amend an order made under section 12 of the finance act. the contents of these two section are different. the only power that may at first sight appear to be common to both these ..... whole or any part of the income of any person or class of persons while that under section 12 of the finance act is vested merely to surmount obstacles or difficulties which may arise in the application of the indian income-tax act to part b states or merged states, though even this power which is merely an enabling one .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Feb-22-1955
Reported in : 195527ITR503(Coch.)
..... have effect. when the legislature intends to repeal a statute it is so expressly mentioned as is clear from the language of the second sub-clause of section 13 of the finance act which reads : "if immediately before the 1st day of april, 1950, there is in force in any state other than jammu and kashmir a law ..... act xxiii of 1121, has been repealed by that section.section 13 (1) of the finance act is as follows :- "13 (1). if immediately before the 1st day of april, 1950, there is in force in any ..... 1125 and 1126, the account years being 1124 and 1125.2. on the first question the contention of learned counsel for the assessee is that section 13 (1) of the indian finance act, xxv of 1950, has rendered assessment to agricultural income-tax for the years in question impossible because the law which authorised it, namely, travancore .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Oct-31-1955
Reported in : 195630ITR73(Coch.)
..... for consideration.10. as far as question (iii) is concerned it is conceded by the learned counsel for the department that by virtue of section 13 of the finance act of 1950, the travancore income-tax act, 1121 should apply for all assessments in respect of accounting years ending on or before 31st march, 1949. in this view the tribunals ..... of entry 82 of the union list cannot be deemed to be income and taxed upon that footing." 15. section 23a of the indian income-tax act, 1922, has been completely recast by the finance act of 1955. it is with the section as it stood before the amendment that we are concerned in this case. subsection (1) as it stood then ..... direction to the income-tax officer to proceed under section 23a of the indian income-tax act, 1922, in respect of the accounting year 1123 which .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Cochin
Decided on : Oct-04-1955
Reported in : 195528ITR885(Coch.)
..... tax for the year.4. two rectification proceedings were, one after the order, taken by the respondent with reference to ex. a order under section 48 of the travancore income-tax act corresponding to section 35 of the indian act. by the first order filed in the case as ex. b he cancelled the adjustment and set-off as regards two of the heads ..... of business belong to the same person and are connected with the same trade, the one being ancillary or subsidiary to the other, if they are owned, controlled and financed in common, if the staff employed and the place of business are the same and if common accounts are kept, it may readily be inferred that the two lines of ..... fatal to the claim that the different line of business are really parts of the same business." 11 again, the jurisdiction to correct by way of rectification under section 35 of the indian act is limited. it deals only with errors apparent on the face of the record which can be corrected at any stage.as observed by gentle, c.j., .....
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