Judgment Search Results Home > Cases Phrase: finance act 2007 section 8 amendment of section 12a Court: gujarat Page 6 of about 85 results (0.113 seconds)

Commissioner of Wealth-tax Vs. Bombay Conductors and Electrical Ltd.

Court : Gujarat

Reported in : [2002]258ITR667(Guj)

..... the facts and in the circumstances of the case, the tribunal is right in law in coming to the conclusion that the assessee is entitled to exemption under section 40(3)(vi) of the finance act, 1983, for the residential property on the ground that the same was used for guest house and business premise ?'2. in the present case, the assessee ..... for business purposes, the value thereof could not be included in the net wealth of the assessee and as such the exemption was available to the assessee under section 40(3)(vi) of the finance act, 1983.3. on the above facts, the above question was referred to this court for its opinion.4. since the property in question was held to ..... and as such in the wealth-tax proceedings, the value thereof cannot be included in the net wealth of the assessee as it is specifically exempt under section 40(3)(vi) of the finance act, 1983.5. in view of the above, we are of the opinion that the tribunal has rightly excluded the value of the property from the net .....

Arvind Boards and Paper Products Ltd Vs. Commissioner of Income-tax, G ...

Court : Gujarat

Reported in : (1982)28CTR(Guj)322; [1982]137ITR635(Guj)

..... of the judgment.we may first look at the relevant provisions of law governing the case in the light of the legislative history.section 80e was introduced by the finance act, 1966, with effect from april 1, 1966. the said section, in so far as sit is relevant for the purposes of the present case, provided, in substance, that in the case ..... subsection, the words 'five per cent.' were submitted for the words 'eight per cent.' by the finance (no. 2) act, 1971, with effect from april 1, 1972. section 80-i itself came to be deleted by the finance act, 1972, with effect from april 1, 1973.section 80-i used the words 'priority industry' and those words defined in cl. (7) of s. ..... list of the articles and things and at item 16 thereof was included 'paper and pulp including newsprint'.section 80e was deleted and, in its place, s. 80-i was introduced by the finance (no. 2) act, 1967, with effect from april 1, 1968. sub-section (1) of s. 80-i is material for the purposes of this case and, when enacted .....

Kaka Ba and Kala Budh Public Charitable Trust Vs. Commissioner of Inco ...

Court : Gujarat

Reported in : (1984)2GLR923; [1984]146ITR9(Guj)

..... , by his letter dated march 20, 1981. this approval was valid and effective up to march 31, 1983. before the expiry of the said approval, by the finance act, 1983, s. 35cca as it then stood, was repealed and an altogether new provision was substituted as s. 35cca with effect from april 1, 1983. broadly stated ..... as its object the rural development programme is entitled to the authorisation under sub-s. (2b). in the very nature of the legislative history of this section, the commissioner is duty bound to give authorisation only to those institutions or associations which are approved and which have undertaken and are implementing approved rural development ..... had been started by the association or institution before the 1st day of march, 1983. (2b) no certificate of the nature referred to in sub-section (2) or sub-section (2a) shall be issued by any association or institution unless such association or institution has obtained from the prescribed authority authorisation in writing to issue .....

Girdardas and Co. Private Ltd. (In Liquidation) Vs. Commissioner of In ...

Court : Gujarat

Reported in : [1965]55ITR171(Guj)

..... already been brought to tax as dividend. from the commencement of the assessment year 1955-56, however, a change took place in the law. section 2(6a) (c) was amended by the finance act, 1955 and the proviso was deleted with the result that from and after the assessment year 1955-56, any distribution made by a liquidator was ..... revenue. the first decision was that reported in gautam sarabhai v. commissioner of income-tax. that case related to the construction of section 2(6a) (c) as it stood prior to its amendment by the finance act, 1956, when the words were 'any distribution made to the shareholders of a company out of accumulated profits of the company.' an ..... of the company, such distribution would be a distribution covered by the expression 'dividend'. of course the section with which i am concerned in the present reference is section 2(6a) (c) as it stood after its amendment by the finance act, 1956, but all that the amendment did was to do away with the inaptness of language without .....

Tata Teleservices Vs. Union of India

Court : Gujarat

..... statement is filed. therefore there was no effect on the limitation for the petitioner for the fy 2007-2008 and 2008-2009. subsequently section 201(3) of the act was amended on 01/10/2014 by finance act, 2014 w.e.f. 01/10/2014 wherein section 201 (3) (i) was omitted. the distinction between cases where statement has been filed ..... thereto the respondent no. 2 by a letter am 29/12/2014 held that the proceedings for f.y. 2007-2008 and 2008-2009 were valid and were within time relying upon the amended section 201(3) of the finance act, 2014. 6.4 that the petitioner by reply dated 05/01/2015 reiterated its submissions in respect of ..... submissions, the respective petitioners have challenged the impugned notices / summonses issued under section 201 of the act. 8.that the amendment of section 201 of the act by finance act, 2014 was expressly made prospective w.e.f. 01/10/2014 and therefore the impugned notices/summons for fy 2007-2008 and 2008-2009 where erroneously issued by respondent no. 2 since .....

Commissioner of Income-tax, Gujarat I Vs. S.P. Bhatt

Court : Gujarat

Reported in : [1974]97ITR440(Guj)

..... has concealed the particulars of his income or furnished inaccurate particulars of such income. it may be pointed out that, prior to its amendment by the finance act, 1964, section 271(1)(c) required that the assessee should have concealed the particulars of his income or deliberately furnished inaccurate particulars of such income, but the word ..... resort to the deeming fiction contained in the explanation. the explanation which was not originally there when section 271(1)(c) was enacted but which was introduced by the finance act, 1964, provides that where the total income returned is less than eighty per cent, of the total income assessed, the assessee ..... 'deliberately' was omitted from the section by the finance act, 1964. what is the effect of this omission does not fall for determination in this case because the assessee is sought to be brought within section 271(1)(c) not on the application of its own terms but by .....

Shantaben Govindlal Patel Vs. Commissioner of Income Tax

Court : Gujarat

Reported in : (2001)165CTR(Guj)722

..... chargeable to income-tax under the head 'capital gain' by treating the same as income of the previous year in which the transfer took place. section 54f was introduced in the act by finance act, 2/1977 with effect from 1-4-1978, for the purpose of exempting capital gain from tax, if sale proceeds of the asset are ..... basis of award of original compensation, can be recomputed. this provision by insertion of sub-section (7a) to section 155 was introduced by finance act of 1978, but it was given retrospective effect from 1-4-1974. by the same finance act of 1978, sub-section (10b) to section 155 was introduced not retrospectively but prospectively from 1-4-1978, which enables the ' ..... refused to grant any benefit of exemption from capital gain tax to the assessee on the additional compensation received by her on the ground that section 54f(3) as inserted by the finance act, no. 2/1977 came in force with effect from 1-4-1978, and the said provision did not apply to the capital gain assessable .....

Shantaben Chinubhai (Guardian of Minor, Upendra Chinubhai) Vs. Commiss ...

Court : Gujarat

Reported in : (1992)103CTR(Guj)185; [1992]196ITR44(Guj)

..... tax of 55 per cent. instead of 65 per cent. on the ground that it was an 'industrial company' as defined in section 2(6) (c) of the finance act (no. 2) act, 1971, and the finance act, 1972. the division bench of the delhi high court, negativing the claim of the assessee, held that the assessee-company did building ..... page 378) : 'whether, the assessee-company is an 'industrial company' within the meaning of clause (d) of sub-section (7) of section (2) of chapter ii of the finance act, 1966 ?' 12. section 2(7) (d) of the finance act, 1966, defined an 'industrial company' to mean a company which was mainly engaged in the business of generation or distribution of ..... and repairs, it manufactured windows and door frames, and concrete beams and slabs. it claimed that it was an industrial company within the meaning of section 2(7) (d) of the finance act, 1966. the income-tax officer held that the assessee-company was not an industrial company and, therefore, could not claim exemption from the levy .....

Saurashtra Education Foundation Vs. Commissioner of Income Tax

Court : Gujarat

Reported in : (2004)190CTR(Guj)295; [2005]273ITR139(Guj)

..... .f. 1.4.1984. 7. a perusal of the aforesaid statutory provisionswould show that while section 11 provides for exemptionof the income of a trust holding property wholly forcharitable or religious purposes subject ..... (15) in section 2 as under:-2(15) 'charitable purpose' includes relief tothe poor, education, medical relief, and theadvancement of any other object of general publicutility not involving the carrying on of anyactivity for profit. the words, 'not involving the carrying on of anyactivity for profit' have been omitted by finance act,1983 w.e ..... the systematic instruction,schooling or training given to the young has onlycited an instance in order to indicate as to whatthe word 'education' appearing in section 2(15)of the act which defines 'charitable purposes' isintended to mean. we are certain that theseobservations were not intended to keep out of themeaning of the word ' .....

Kantilal Popatlal Shah and ors. Vs. State of Gujarat and anr.

Court : Gujarat

Reported in : AIR1966Guj268; (1966)GLR96

..... bombay finance (amendment) act, 1939, by which part vi was inserted in the bombay finance act 1932 with effect from 31st march 1939. this part was headed 'urban immovable property tax' and it authorized the levy of urban ..... tax as such on open lands in general. in regard to government taxation too there were various taxes levied by the provincial government under the bombay finance act, 1932, but there was no tax on open lands or for the matter of that even on buildings. the provincial legislature, therefore, brought into force the ..... immovable property tax on buildings and lands situate in the area to which the part extended. section 20 which was the first section in this part declared that the .....