Judgment Search Results Home > Cases Phrase: finance act 2007 section 8 amendment of section 12a Court: gujarat Page 7 of about 85 results (0.286 seconds)

Commissioner of Income-tax Vs. Arvind Mills Ltd.

Court : Gujarat

Reported in : (2001)171CTR(Guj)362; [2002]254ITR529(Guj)

..... within the same set of provisions which have been contemplated to be governed by the provisions of section 80ab of the act.13. section 80ab of the act was introduced by the finance (no. 2) act of 1980, with effect from april 1, 1981. while section 80hhc was introduced by the finance act, 1983, with effect from april 1, 1983. therefore, the contention raised on behalf of the revenue ..... difference in other provisions falling under heading c of chapter vi-a and the language employed in section 80hhc of the act. on the contrary, there is an inherent indication in the act when one reads the provision of section 80hhb of the act which was introduced by the finance act, 1982, with effect from april 1, 1983. the language employed in both the provisions is entirely .....

induprasad Devshanker Bhatt Vs. J.P. Jani and anr.

Court : Gujarat

Reported in : AIR1966Guj47; (1965)GLR433; [1965]58ITR559(Guj)

..... 'c' : [1962]44itr325(guj) , where desai c. j., as he then was and miabhoy j., look the view while interpreting the first proviso to section 34 as amended by the finance act, 1956, that the word 'issue' in that proviso could not be equated with the word 'serve' and that the issue of the notice was a different and ..... the contentions that have beeu urged before us, it is necessary to refer briefly to the relevant provisions of the old act and the new act. section 34 of the old act as it stood immediately prior to its amendment by the finance act 1956. was in so far as it is material for our present purpose, in the following terms:'34. (1) ..... or direction contained in an order under section 31, section 33, section 33a, section 33b, section 66 or section 66a.' this was the form in which section 34 stood at the time when the notice dated 27th march 1956 was issued by the income-tax officer under clause (a) or sub-section (1) of that section. by the finance act, 1956, certain amendments of a far- .....

NitIn P. Shah Alias Modi Vs. Dy. C.i.T.

Court : Gujarat

Reported in : (2005)194CTR(Guj)306; [2005]276ITR411(Guj)

..... to the assessing officer the benefit of vdis was not admissible to the assessee as the assessee had failed to comply with the mandatory requirement of section 68(1) of the finance act,1997 by which vdis was floated. the assessing officer stated that records of the assessee for different years were perused and the assessee had neither ..... explanation as regards exemption of the declared amount of rs. 2 crores for the year under consideration under vdis in view of the conditions prescribed in section 68(1) of the finance act,1997. the petitioner wrote on 24/2/2004 once again requesting to furnish a certified copy of the reasons recorded by the respondent. once again ..... under consideration under vdis and formed part of total disclosure of rs. 817 lacs. that the commissioner of income tax having issued necessary certificate under section 68(2) of the finance act,1997 regarding the fact of payment of tax on the declared income and thus accepting the declaration it was not open to the respondent to .....

Synbiotics Ltd. Vs. Assistant Commissioner of Income-tax, Circle- 4

Court : Gujarat

..... the legislature been to allow the unabsorbed depreciation allowance worked out in a.y. 1997-98 only for eight subsequent assessment years even after the amendment of section 32(2) by finance act, 2001 it would have incorporated a provision to that effect. however, it does not contain any such provision. hence keeping in view the purpose of amendment ..... depreciation available to an assessee on 1st day of april 2002 (a.y. 2002-03) will be dealt with in accordance with the provisions of section 32(2) as amended by finance act, 2001. and once the circular no.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed depreciation had ..... claimed set-off of brought forward unabsorbed depreciation allowance of rs. 4.26 crores [rounded off] pertaining to the period between a.y 1984-85 to a.y 2007-08 against the petitioner's income from long term capital gains arising during the year under consideration. such return was taken in scrutiny by the assessing officer. he .....

Commissioner of Income-tax Gujarat-iii Vs. Bhavnagar Chemical Works (1 ...

Court : Gujarat

Reported in : [1983]140ITR61(Guj)

..... licensing of industrial undertaking rules, 1952, wherein the assessee has been registered as falling in item no. 28 of the scheduled industry.it will be seen from section 2(5)(c) of the finance act, 1964, that the item no. 28 of the scheduled industry is specifically excluded from the scope of this action. therefore, the rebate of rs. 35, ..... an annex. b at p. 38 of the paper book, mentioned as follows:'the assessee has been allowed export profit rebate of rs. 35,148 under section 2(5)(a)(ii) of the finance act, 1964, on the export of oil cake worth rs. 35,14,882. in support of the claim the assessee has filed form no. c prescribed ..... industries engaged in the manufacture of vegetable oils, including solvent extracted oils and vanaspati, are industries set out in the first schedule to the industries (development and regulation) act, 1951.the finance act, 1964 (see income tax reports, volume 52, 1964, statutes computation at p. 5) provided by s. 2 for income-tax and super tax being levied for .....

Sumatilal Chimanlal Shah Vs. Controller of Estate Duty, Gujarat

Court : Gujarat

Reported in : (1982)26CTR(Guj)209; [1982]138ITR143(Guj)

..... doubtful and remote about the likelihood of the public issue. in the context of estimating the principal value of such shares under s. 7(5) of the finance act, 1894, expert evidence was adduced on behalf of the crown that it was an invariable practice amongst the board of directors to answer reasonable questions put by ..... this contention subba rao j., speaking for the court, held as under after referring to s. 299(2) of the government of india act, 1935 (p. 1099) : 'under this sub-section the power the make any law by an appropriate legislature was subject to the conditions laid down therein. the power thereunder could not be exercised ..... unless the conditions were complied with. they were fetters on the legislative power. section 299 of the government of india act in express terms said that the appropriate legislature had no power to make any law authorising the compulsory acquisition for public purposes of any land .....

Cit Vs. Sundeep Construction (P) Ltd.

Court : Gujarat

Reported in : [2004]137TAXMAN287(Guj)

..... has satisfactorily discharged the burden of showing that it is a company which is mainly engaged in mining and, therefore, an 'industrial company' as defined by section 2(7)(c) of the finance act, 1982, and hence entitled to the benefit claimed.under the circumstances, we answer the question in the affirmative, i. e., in favour of the assessee ..... than fifty one per cent of such total income.'the assessee claimed the aforesaid benefit on the basis that it is an industrial company as defined by section 2(7)(c) of the finance act, 1982.4. the income tax officer rejected the assessee's claim as an industrial company. the commissioner (appeals) also rejected the assessee's claim ..... facts and in the circumstances of the case, the tribunal is right in law in holding that the assessee is an industrial company within the meaning of section 2(7)(c) of the finance act, 1982 and hence entitled to the benefit claimed ?'2. we have heard mr. manish r. bhatt, learned standing counsel for the revenue and mr. .....

Cit Vs. Dhall Enterprises and Engineers (P) Ltd.

Court : Gujarat

Reported in : [2006]150TAXMAN499(Guj)

..... order to simplify the calculation and accounting of depreciation allowance in respect of machinery or plant of a small cost, the finance act, 1966, has added a proviso (now the first proviso) to section 32(1)(ii) of the income tax act to the effect that where the actual cost of machinery or plant does not exceed rs. 750 the whole of ..... of his business or profession.'8. in 1983, the amendment carried out by the finance act, 1983, came to be explained by departmental circular no. 372, dated 8-12-1983 and paragraph 22.2 of the said circular reads as under :'under the first proviso to section 32(1), the whole of the actual cost of any machinery or plant is ..... deducted in the computation of taxable profits in case where the actual cost of such machinery or plant does not exceed rs. 750. the finance act, 1983, has amended this proviso and increased the monetary ceiling .....

Mrudula Nareshchandra Vs. Controller Estate of Duty

Court : Gujarat

Reported in : [1975]100ITR297(Guj)

..... in our case was directly involved in gartside's case. 61. at this stage it would be proper to quite the two relevant section, namely, section 2(1)(b) and section 7(7) of the english act, i.e., the finance act of 1894. they are as under : '2. (1) property passing on the death of the deceased shall be deemed to ..... and 'accumulation beneficiaries' had an interest in the property from which the income was derived, this was not an 'interest in possession' within the meaning of section 43(1) of the finance act, 1940, and, therefore, the estate duty was not payable on the property advanced to them. the revenue appealed against this decision and the appeal was allowed. ..... ascertained by proper valuation without any consideration of or allowance for goodwill. the duty was claimed by the revenue on the death of the deceased under section 2(1)(b) of the english finance act, 1894, on the footing that the deceased's interest in the goodwill, in which the deceased had an interest ceasing on his death, the .....

Commissioner of Income-tax Vs. Navjivan Roller and Pules Mills

Court : Gujarat

Reported in : [2001]251ITR661(Guj)

..... the provisions of law which concern the issue before us.7. 40a(8) : sub-section 8 has since been omitted by the finance act, 1985, with effect from april 1, 1986. during the assessment years in question 1978-79 and 1979-80, sub-section (8) of section 40a, as inserted by the finance act, 1975, with effect from april 1, 1976, stood as under :'(8) where the ..... its principal business, the business of acceptance of deposits from its members and which is declared by the central government under section 620a of the companies act, 1956 (1 of 1956), to be a nidhi or mutual benefit society ;(vi) a miscellaneous finance company, that is to say, a company which carries on exclusively, or almost exclusively, two or more classes of business .....