Judgment Search Results Home > Cases Phrase: finance act 2007 section 52 amendment of section 193 Court: allahabad Page 10 of about 478 results (0.145 seconds)

Cit Vs. Wajid Sons (P) Ltd.

Court : Allahabad

Reported in : [2005]144TAXMAN848(All)

..... or not. the lower rate of tax has been prescribed for the assessment years in question in respect of an industrial company by the respective finance acts. in the finance act, which were applicable to assessment years in question, the definition of industrial company has been given as follows:'industrial company' means a company which ..... in the aforesaid case, the facts were that the original assessment of volkart brothers, a firm duly registered under the act, were made on the slab rate prescribed under the respective finance act applicable to registered firm. in the individual assessment of the partners of the firm, their respective shares were included and ..... the tax was assessed at the maximum rate since the partners were assessed as non-resident. the income tax officer initiated the proceeding under section 154 of the act as there .....

Commissioner of Wealth-tax Vs. His Highness Maharaja Vibhuti NaraIn Si ...

Court : Allahabad

Reported in : [1979]117ITR246(All)

..... any alloy for the assessment years 1964-65 and 1965-66 and whether the tribunal was legally correct in holding that explanation 1 which was added to section 5(1)(viii) by section 32 of the (finance) act,1971, could not be pressed into service in interpreting the word 'jewellery'prior to april 1, 1972?'3 ..... . section 5(1)(viii) of the w.t. act provided :'5. (1) subject to the provisions of sub-section (1a) wealth-tax shall not be payable by an assessee in respect of the following assets, ..... 1971. clause (viii) was amended retrospectively to be effective from april 1, 1963. the following words were added at its end : 'but not including jewellery'. this finance act added two provisos and two explanations but the same were made operative prospectively from april 1,1972. clause (viii), after its amendment, reads as follows:'(viii) furniture, household .....

Dr. Shashi Kant Garg, Son of Dr. P.L. Garg Vs. Commissioner of Income- ...

Court : Allahabad

Reported in : (2006)203CTR(All)75; [2006]285ITR158(All)

..... such notice.'32. the words 'or deputy commissioner' occurring in sub-section (1) have been inserted by the finance (no. 2) act; 1998 with effect from 1.10.1998 and the word 'joint' as appearing in sub-section (1) and sub-section (2) has been substituted for the word 'deputy' by the said finance act.33. from a conjoint reading of the aforesaid provision, we find that ..... the assistant commissioner, deputy commissioner, assistant director, deputy director, income tax officer, joint commissioner and joint director have been included in the phrase 'assessing officer', as define' under section 2(7a) of the act. the words 'assistant commissioner' also includes a deputy .....

Cit Vs. Ram Kishore Raj Kishore

Court : Allahabad

Reported in : [2004]135TAXMAN511(All)

..... amendment with retrospective effect from 1-6-1988. for the provisions of section 263(1) along with clause (c) of its explanation, the honble supreme court held that the explanation to section 263(1), which was substituted by the finance act, 1988 with effect from 1-6-1988 was again amended by the finance act, 1989 with retrospective effect from 1-6-1988 to the effect ..... that where any order referred to in the sub section and passed by the assessing officer had been the subject matter .....

Anand Prakash Agrawal Vs. Commissioner of Income-tax (Central)

Court : Allahabad

..... officer. 16. in the light of the aforesaid, it is essential for the court to consider the meaning of "undisclosed income" as defined under section 158b(b) of the income tax act as amended by the finance act, 2002 with effect from 01.07.1995. for facility, the said provision is extracted hereunder: "158b(b) where returns of income have been filed ..... /215 taxman 28/29 taxmann.com 392 (delhi). the learned counsel has also placed reliance upon a decision of the supreme court in cit v. mukundray k. shah [2007] 290 itr 433/160 taxman 276, wherein the judgment of the calcutta high court was reversed wherein the high court held that since all the documents were available for regular ..... .com 217 (mad), indra prastha chemicals (p.) ltd. v. cit [2004] 271 itr 113/[2005] 142 taxman 205 (all.), asstt. cit v. rajesh jhaveri stock brokers (p.) ltd. [2007] 291 itr 500/161 taxman 316 (sc), cit v. kelvinator of india ltd. [2010] 320 itr 561/187 taxman 312 (sc) and cit v. orient craft ltd. [2013] 354 itr .....

Geep Flashlight Industries Ltd. and ors. (Since Changed to Geep Indust ...

Court : Allahabad

Reported in : [1996]218ITR638(All)

..... of writ petitions calls in question the constitutional validity of sub-section (8) of section 40a of the income-tax act, 1961. the sub-section was inserted by the finance act, 1975, with effect from april 1, 1976, and omitted by the finance act, 1985, with effect from april 1, 1986.2. section 40a sets out expenses or payments not deductible in certain ..... circumstances. for the sake of convenience, we may set out sub-section (8). it reads ..... way of subscription to share capital, etc., as also loans raised on security are also excluded.4. the objects and reasons behind this sub-section were set out in a memorandum accompanying the finance bill, 1975. it has been extracted in paragraph 8(b) of c.m.w.p. no. 175 of 1979. it reads thus .....

Dhiraj Mal Vs. Commissioner of Income-tax

Court : Allahabad

Reported in : [1971]79ITR242(All)

..... be issued at any time notwithstanding that at the time of the issue of the notice the period of eight years specified in that sub-section before its amendment by clause (a) of section 18 of the finance act, 1956 (18 of 1956), had expired in respect of the year to which the notice relates.' 7. in the present case the assessment ..... amendment made by the finance act of 1956 in section 34(1)(a) removing the bar of the lapse of eight years' period in cases of certain incomes.'10. ..... the notices shall not be challenged on the ground that a period of eight years under section 34(1)(a) as in force after the amending act of 1948 had elapsed. it has deliberately used the words as in force before its amendment by the finance act, 1956'. these words indicate that the legislature intended to give full effect to the .....

Dr. Sahai's Laboratory Pvt. Ltd. and Ors. Vs. State of U.P. and Ors.

Court : Allahabad

Reported in : AIR1980All364

..... alcohol enumerated at serial no. 2 (iii) to the schedule of medicinal and toilet preparations (excise duties) act, 1955 were exempted from the operation of act 39 of 1955. the schedule contained in the original act was substituted by section 64 of the finance act of 1964. clause 2 (iii) of the schedule specified 'all others containing alcohol which are prepared by ..... as 1955, it is not possible to hold that the reference to the schedule to the act was to the one which stood in the original act and not the one which stood substituted by the finance act, 1964. after the schedule being substituted by the finance act, 1964, it is the new schedule which would be the part of the ..... to the writ petition) of clause 2 (iii) to the schedule to medicinal and toilet preparations (excise duties) act, 1955, was to the schedule to the said act as it stood in 1955 and not as it stood after its being substituted by the finance act of 1964. this argument is based on the circumstance that the year of the .....

Commissioner of Income Tax and anr. Vs. Iqbal Ahmad L/H of Late Jullan

Court : Allahabad

Reported in : (2007)213CTR(All)77

..... case of cit v. podai cement (p) ltd. (1997) 141 ctr 67 (sc) : air 1997 sc 2523 while interpreting the provisions under section 22 of the act has held that amendment introduced to section 27 of the act by the finance act, 1987 by substituting els. (iii), (iiia) and (iiib) in place of old clause (iii) w.e.f. 1st april, 1988 was ..... acquisition under any law could arise in the previous year when compensation or part thereof or such consideration or part thereof was first received. even though sub-section (5) was inserted by the finance act, 1987 w.e.f. 1st april, 1988, we are of the considered opinion that this provision is only clarificatory in nature and has to be ..... anxious consideration to the various pleas raised by the learned counsel for the parties, we find that section 45 of the act deals with various situations when capital gains can be said to have arisen. sub-s. (5), which was inserted by finance act, 1987 w.e.f. 1st april, 1988 provides that the capital gains in case of compulsory .....

Subhra Motel (P.) Ltd. Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1998)64ITD134(All.)

..... have been brought on statute for effective discharge of liability. on comparison of two provisos inserted by finance act, 1987 in respect of clause (a) and finance act, 1989 in regard to clause (b) of section 43b of the act, it would be clear that the conditions for payment in respect of clause (b) are more restrictive. for ready reference ..... the proviso as introduced are quoted below :- provided that nothing contained in this section shall apply in relation to any ..... officer rejected the claim and split the receipts into two parts. the high court held that the entire receipts were assessable as income from property under section 9 of the act. it was held by the hon'ble supreme court that "the services rendered by the assessee to its tenants were the result of its activities .....