Court : Allahabad
Reported in : [2003]133TAXMAN482(All)
..... the income tax (22nd amendment) rules, 2001 issued by the central board of direct taxes. the petitioner is also challenging the validity of section 17(2)(vi) of the income tax act, 1961 as inserted by the finance act, 2001 on the ground that it has delegated essential legislative powers and that it is violative of articles 19(1) and 246 of the ..... as an income saved. in that event it could undoubtedly be treated as 'fringe benefit' or 'amenity' given to the employee.15. in view of the section 17(2)(vi) which has been introduced by the finance act, 2001, the earlier decision in the case of v.m. salgaocar & bros. (p) ltd. v. cit : [2000]243itr383(sc) is not applicable in ..... (2)(vi) read with rule 3 of the rules.16. in view of the introduction of sub-clause (vi) of clause (2) of section 17 of the act by means of the finance act, 2001, and prescription of the interest-free loan or loans at the concessional rate of interest by the employer to its employees having been treated as a 'fringe benefit .....
Tag this Judgment!Court : Allahabad
Reported in : 2004(93)ECC164; 2004(178)ELT150(All)
..... dated 8.12.1998 notwithstanding the fact that the show cause notices has been adjudicated upon in relation to the co-noticees as well as the declarant under section 90(1) of the finance act, 1998.now the matter has been finally decided by the apex court in the case of union of india and ors. v. onkar s. kanwar and ors ..... an order for removal of difficulties in terms of the provisions of section 97(1) of the finance (no. 2) act, 1998. it has been inter alia, clarified that no civil proceedings for imposition of fine or penalty shall be proceeded with against the co-noticees ..... .8a) dated 9.12.1998 was issued by board in the form of instructions relating to kar vivad samadhan scheme (removal of difficulties) order, 1998 under section 92 of the finance (no. 2) act, 1998. annexure-ii of the trade notice reads as follows:'having due regard to the aims and objects of the scheme, the government have decided to issue .....
Tag this Judgment!Court : Allahabad
Reported in : [1978]111ITR92(All)
..... the case, the appellate tribunal was legally correct in holding that the proportionate share of the taxes paid by the firm, in which the assessee, was a partner under section 68 of the finance act, 1965, should be excluded from the wealth of the assessee on the relevant valuation date?'2. sheo kumar gupta, the assessee, was a co-partner in the firm ..... munni lal, kanpur, with ram krishna gupta and others. the partnership of messrs. radhey lal munni lal in which the assessee was a partner made a voluntary disclosure under section 68 of the finance act, 1965, declaring concealed income of rs. 10,00,000. the assessee's share in the concealed income amounted to rs. 87,500. the assessee paid a tax at .....
Tag this Judgment!Court : Allahabad
Reported in : 1987(12)ECC75; 1987(11)LC496(Allahabad); 1987(28)ELT234(All)
..... to continuous process of manufacture, the question of applicability of amended provisions of rules 9 and 49 does not arise. these rules have been amended by section 51 of the finance act, 1982, the relevant portion whereof reads as under :-'51. retrospective effect for certain amandments to central excise rules and validation - (1). the amendments ..... the same, as such untextured yarn must discharge central excise duty before it is taken for texturising purposes. secondly, the said rule as amended by the finance act 1982 has the effect of nullifying any decision, order or guidelines which are inconsistent with the amended provisions of rules 9 and 49. thus, in our ..... in law goods which are excisable. this leads us to notice the settled principles which govern nature of semi-finished goods and their excisability.27. section 2(f) of the act defines the words 'manufacture' to include any process incidental or ancillary to the completion of a manufactured product.28. in south bihar sugar mills .....
Tag this Judgment!Court : Allahabad
Reported in : (2004)191CTR(All)282; [2004]270ITR389(All)
..... 9)--notwithstanding anything contained in the foregoing provisions of this section, where a partial partition has taken place after the 31st day of ..... partition and the provisions of this act shall apply accordingly.explanation--for the purposes of this section 'partial partition' shall have the meaning assigned to it in clause (b) of the explanation to section 171 of the it act.'5. sub-section (9) was also inserted in section 171 of the it act by the same finance act. it reads as follows :'( ..... court :'whether, on the facts and in the circumstances of the case, the tribunal was legally correct in holding that the amended section 20a of the wt act inserted by the finance (no. 2) act, 1980, would not be applicable to the asst. yr. 1979-80 ?'2. briefly stated facts giving rise to the present .....
Tag this Judgment!Court : Allahabad
Reported in : (2002)172CTR(All)151; [2002]255ITR111(All); [2001]119TAXMAN105(All)
..... . the mistaken legal impression of the petitioner in filing the first revised return appeared to be that since the finance act, 1987, which inserted the proviso to section 43b was made effective from april 1, 1988, and was not expressly declared as retrospective the statutory duty of paying sales tax which was paid after the end of the ..... statutory period prescribed, those assessees were prevented from claiming the deduction. this was not intended by section 43b, and, hence, the first proviso was inserted by the finance act, 1987, in order to eliminate the hardship to such assessees.7. the question arose whether the proviso to section 43b was retrospective. most high courts held that it was retrospective, but the delhi high court .....
Tag this Judgment!Court : Allahabad
Reported in : [2006]154TAXMAN157(All)
..... stationery, printing and postage expenses on the ground that they were relatable to section 35b(1)(b)(iii) which was not operative for the assessment year in question, having been omitted by finance (no. 2) act, 1980 and whether the said expenditure was allowable under section 35b(1)(b)(i)?'2. the present reference relates to the assessment year ..... further appeal, the tribunal took the view that these claims were relatable to section 35b(1)(b)(iii) and could not be allowed as sub-clause (iii) was not operative for the assessment year in question, having been omitted by the finance (no. 2) act, 1980. as the provision under which the claim of weighted deduction on the ..... expenditure on stationery, printing and postage could have been allowed has already been omitted by the finance (no. 2) act, 1980, the deduction was not admissible. so far as sub-clause (i) is concerned, we find that the items mentioned herein do not fall under .....
Tag this Judgment!Court : Allahabad
Reported in : AIR2009All36; 2008(4)AWC3653
..... the foregoing submissions, we are of the considered opinion that the institution is fully covered by the definition of the 'public authority' under section 2(h)(d)(ii) of the act.9. it being substantially financed by the state government, it was obligatory on the part of the institution to provide the information, as asked for, under the ..... the institution also receives maintenance grant from time to time from the government. the words used in section 2(h)(d) of the act, which are to be considered are 'substantially financed'. it is also relevant to note that the words 'substantially financed' has further been clarified by two more words directly or indirectly by funds provided by the ..... for the petitioner and learned standing counsel.2. by this writ petition, the petitioner has prayed for a writ of certiorari quashing the impugned orders dated 12.12.2007, 4.1.2008, 11.1.2008 and 12.3.2008. the writ petition raises an important issue. the orders, which are sought to be challenged in the .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1992All239
..... before the loan was disbursed, those who stood guarantee were bound by the agreement. this is the agreement as is referred to in s. 30 of the industrial finance corporation act, 1948. this is the agreement, when breached, gives the ifc1 a special right for the enforcement of its claims under s. 30. one aspect is relevant. ..... of property pledged, mortgaged, hypothecated or assigned to the corporation as security for the loan as advanced. the crucial question is how effective the remedy under section 30 of the act, aforesaid, is to be as the legislature has provided a special remedy, it was intended to be more effective than the ordinary remedy. a special ..... also be under public accountability to explain their indebtedness.15. diligence in recovering debts is, thus a matter of accountability in reference to the context. section 30 of the act only provides a favoured procedure to the ifci to seek recoveries on loans with a summary procedure. the principles on the obligations of an agreement by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Allahabad
Reported in : (1986)15ITD490(All.)
..... he was called upon to bear by reason of his posting at a particular place and that it was exempt under section 10(74).16. the counsel pointed out that subsequently an explanation to the above section was inserted by the finance act, 1975, with retrospective effect from 1-4-1962. this explanation reads as under : explanation : for the removal of ..... (2).11. we are also in agreement with the stand of the assessees that the explanation inserted by the finance act, 1983, with effect from 1-4-1979 to section 9(1)(ii) cannot be applied to an assessment earlier to the assessment year 1979-80. the explanation was specifically made retrospective only from 1-4- ..... , it was an income deemed to accrue or arise in india and was, consequently, taxable under section 5(2)(b), the assessees being non-residents. his second submission was that with the insertion of the explanation to section 9(1)(ii) by the finance act, 1983, any doubt, if there was one, has also been cleared. while admitting that the .....
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