Judgment Search Results Home > Cases Phrase: finance act 2007 section 49 amendment of section 153b Page 99 of about 5,566 results (0.178 seconds)

Reading and Bates Drilling Co. (as Agent of Daniel Gates) Vs. Commissi ...

Court : Uttaranchal

Reported in : (2005)199CTR(Uttranchal)66; [2005]277ITR253(Uttaranchal)

..... he received was for his services in india. in this connection it may be noted that the explanation to section 9(1)(ii) introduced by the finance act of 1983 refers to what constitutes 'income earned in india'. this explanation was introduced by the finance act of 1983 with effect from april 1, 1979, to get over the judgment of the gujarat high court in ..... cit v. s.g. pgnatale manu/gj/0015/1980 : [1980]124itr391(guj) in which it was held that in order to attract section 9(1)(ii) of the act, liability to pay must arise in india .....

Sri Ramchandra Mardaraj Deo Vs. Commissioner of Income-tax, Bihar and ...

Court : Orissa

Reported in : [1955]28ITR136(Orissa)

..... made the original assessment came to the conclusion that the rate at which the super-tax was assessed by virtue of the provisions of section 6(4) (v) of the finance act, 1939, should be the rate prescribed by the finance act of the previous year, viz., of 1938, and the assessment was accordingly made on the 16th march, 1940. in the following ..... issued. from the above resume of facts it would be seen that the ordinance in question had been promulgated before the decision on the reference under section 66(1) had been pronounced and the finance act of 1939 had been made applicable to chota nagpur with effect from 30th march, 1939, i.e., before the close of the financial year ..... only of his view of the law as to whether the rates of the finance act of 1939 were applicable and as in his view the rates of the finance act of 1939 were applicable that in his view constituted 'definite information' so as to attract the operation of section 34. it was found that the view of the second officer about the .....

Commissioner of Income-tax Vs. A. Sreenivasa Pai

Court : Kerala

Reported in : (2000)160CTR(Ker)216; [2000]242ITR29(Ker)

..... ) after april 1, 1976. originally, the word 'delibe-rately' existed which was omitted by the finance act, 1964, with effect from april 1, 1964. an explanation was inserted at the end of sub-section (1) of section 271 by the said finance act (section 40 of the finance act, 1964). in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the ..... quantum of tax sought to be avoided under the then existing provisions. subsequently, further amendments were brought by the taxation laws (amendment) act, 1975, (section 61 of the said amending act). four explanations were substituted for the explanation introduced by the finance act, 1964. the effect of the said amendment, so far as we are concerned, is that where, in respect of facts material to .....

Commissioner of Income-tax, Gujarat Vs. Arun Industries

Court : Gujarat

Reported in : [1966]61ITR241(Guj)

..... it is necessary to notice not only the position prevailing in the relevant year of account but also the position which prevailed prior to the amendment made in section 23(5) by the finance act 1956, with effect from 1st april, 1956. prior to the amendment, the position was as follows : where the firm was unregistered, the tax payable by the ..... the amendment made by the finance act, 1956, tax is payable by the registered firm itself under section 23(5)(a)(i), the revenue would be bound to grant to the registered firm exemption in respect of tax on the exempted profits. ..... liable to pay tax. that such an assessee can exist is clear from the second part of the definition of 'assessee' in section 2(2) and, as a matter of fact, prior to the amendment made by the finance act, 1956, a registered firm was such an assessee, since no tax was payable by the registered firm itself. but now after .....

Commissioner of Income Tax Vs. Greenham Estates (P) Ltd.

Court : Chennai

Reported in : [1996]217ITR80(Mad)

..... firm is a manufacturing company, the assessee should also have been considered as an industrial company within the meaning of s. 2(7)(c) of the finance act for the relevant assessment years. according to the department, the assessee is essentially a plantation company and it received share income from the registered firm, which ..... consideration before the tribunal. the first question is as to whether the assessee is an industrial company within the meaning of s. 2(7)(c) of the finance act, 1981. according to the department, since the partnership-firm is doing manufacturing activities, the assessee, who is a partner in the partnership-firm, cannot claim ..... 73itr751(sc) . the second question that arose for consideration before the tribunal was whether the assessee satisfied the expln. to s. 2(7)(c) of the finance act for the relevant assessment year. according to the explanation the income attributable to any one or more of the manufacturing or the processing activities of the goods included .....

Short Bros. (P.) Ltd., in Voluntary Liquidation by Its Liquidator, A.K ...

Court : Chennai

Reported in : (1964)1MLJ66

..... the proceedings of assessment and, in subsequent appeal.4. the definition of 'dividend' is an inclusive one. sub-clause (c) of section 2(6-a) was substituted by section 3 of the finance act of 1956 with effect from the 1st of april, 1956. it reads thus:dividend includes any distribution made to the shareholders of a company ..... there is thus intrinsic evidence to show that accumulated profits could not include the current profits during the year under assessment.7. after the amendment by the finance act of 1955, the above definition was replaced by the following:(c) any distribution made to the shareholders of a company out of accumulated profits of the company ..... section 2(6-a)(c) would be profis accumulated in the financial years preceding the year in which the liquidation took place.8. it is this observation of the supreme court that is relied upon by mr. ramamani to support his contention that the accumulated profits referred to in the provisions even after its amendment by the finance act .....

Commissioner of Wealth-tax Vs. N.M.R. Krishnamoorthy and Sons Pvt. Ltd ...

Court : Chennai

Reported in : [2000]241ITR439(Mad)

..... substantive and is applicable to all proceedings pending on april 1, 1979, when the rule came into force.' 5. the commissioner took the view that section 40 of the finance act did not exclude the operation of rule 1bb which was confirmed by the tribunal. the view taken by the tribunal and the commissioner is in conformity with ..... pavement is ignored and the provisions of rule 1bb would have to be applied in making the valuation. the commissioner agreed with the assessee's case that section 40 of the finance act, 1983, did not exclude the operation of rule 1bb and accordingly directed the assessing officer to refer the matter again to the valuation officer to determine ..... between the specified area and the unbuilt area exceeded 20 per cent. and hence rule 1bb could not be applied to value it and section 40(4) of the finance act, 1983, excluded application of section 7(1) and rule 1bb made thereunder and accordingly assessed the property at rs. 19,48,000 as determined by the valuation officer .....

Cit Vs. Tirupur Sri Meenakshi Sundareswarar Finance Ltd.

Court : Chennai

Reported in : [2003]127TAXMAN392(Mad)

..... the company was owning the property as a landlord and therefore, that part of the building let out to punjab national bank was exigible to wealth tax under section 40(3) of the finance act, 1983. the appellate tribunal, on appeal by the assessee, however took a different view on the ground that the property was used by the assessee for ..... the building which was let out by the assessee in favour of punjab national bank would be an exempted asset from the list of assets found in section 40(3) of the finance act 1983?the assistant commissioner of wealth tax rejected the claim of the assessee by holding it was liable to wealth tax. the commissioner of wealth tax (appeals ..... tribunal was right in law in holding that the property let out by the assessee was not an asset exigible to wealth tax within the meaning of section 40(3)(vi) of finance act, 19832. the short facts are the assessee is a closely, held company in which the public are not substantially interested and its assets are subjected to .....

Commissioner of Income-tax Vs. Texmaco Ltd.

Court : Kolkata

Reported in : (1982)29CTR(Cal)64,[1983]141ITR531(Cal)

..... all depreciation actually allowed to him under this act, or under the indian income-tax act, 1922 (xi of 1922), or any act, repealed by that act, or under any executive orders issued when the indian income-tax act, 1886 (ii of 1886), was in force : ' 8. by an amendment introduced retrospectively by section 6 of the 2nd finance act, 1965, a proviso was added which stipulates as ..... follows :'provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of subsection (1) of section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub .....

Elgi Electric and Industries (P) Ltd. Vs. the Deputy Commissioner of I ...

Court : Chennai

..... . sub section (2) as it stood during the relevant assessment year herein in ..... . it is seen from the reading of section 37 that the ceiling which was there for grant of deduction on the entertainment expenditure under sub section (2) and (2a) was however removed by the substitution of sub section (2) under finance act of 1992 with effect from 1.4.1993. sub section (2) itself was omitted subsequently by the finance act, 1997 with effect from 1.4.1998 .....