Judgment Search Results Home > Cases Phrase: finance act 2007 section 8 amendment of section 12a Court: gujarat Page 8 of about 85 results (0.190 seconds)

Commissioner of Income-tax Vs. New India Industries Ltd.

Court : Gujarat

Reported in : (1992)106CTR(Guj)374; [1993]201ITR208(Guj)

..... the amount calculated at the rate of five thousand rupees per month for any period of his employment after the 28th day of february, 1963...' section 40(c)(iii) was amended by the finance act of 1964, thereafter it read as follows : '(iii) any expenditure incurred after the 29th day of february, 1964, which results directly or ..... us at this stage to refer to the aforesaid two statutory provisions. section 40(c)(iii) being relevant for the assessment year 1968-69 which was originally introduced by the finance act, 1963, is as under : '40. amounts not deductible. - notwithstanding anything to the contrary in sections 30 to 39, the following amounts shall not be deducted in ..... sub-clause (iii) came to be omitted by the finance act, 1968, with effect from april 1, 1969, and, therefore, for the relevant assessment years, i.e., 1968-69 to 1971-72 newly inserted clause (a) (v) of section 40 shall have to be seen which reads as under : 'section 40(a)(v). - any expenditure incurred after 29th day .....

Additional Commissioner of Income-tax Vs. Chandravilas Hotel

Court : Gujarat

Reported in : [1987]165ITR300(Guj)

..... has concealed the particulars of his income or furnished inaccurate particular 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 ..... own terms but by 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 ..... as returned by such person had been accepted as the correct income.' 8. explanation to section 271(1)(c) which has been invoked by the appellate assistant commissioner in imposing penalty on the assessee, was inserted by the finance act, 1964, with effect from april 1, 1964. this explanation was substituted by four explanation by .....

Bardolia Textile Mills Vs. Income-tax Officer, Circle Ii, Ward-e, Sura ...

Court : Gujarat

Reported in : [1985]151ITR389(Guj)

..... 1968 with effect from april 1, 1968. the original s. 141a inserted by the finance act, 1963, with effect from april 1, 1963, was omitted by the finance act of 1964 with effect from april 1, 1964, and it was inserted again in the act by the finance act of 1968. the section, as it stood on april 1, 1968, underwent a change by substitution by s. 42 ..... of the taxation laws (amendment) act, 1975, with effect from april 1, 1976. section 141a provided for provisional assessment for refund. where a return has been furnished under .....

Commissioner of Income-tax-I Vs. Bharat V. Patel

Court : Gujarat

..... are concerned with the period prior to 1.4.2000. 12. we also do not find merit in the contention advanced on behalf of the department that section 17(2)(iiia) inserted by finance act, 1999 w.e.f. 1.4.2000 was clarificatory and, therefore, retrospective in nature. 15. in the case of commissioner of income-tax, bangalore ..... of the option was not ascertainable. in our view, clause (iiia) is not clarificatory. moreover, the meaning of the words specified securities in section (iiia) was defined or explained for the first time vide finance act, 1999 w.e.f. 1.4.2000. moreover, the words allotted or transferred in clause (iiia) made things clear only after 1.4. ..... v. b.c. srinivasa setty [(1981) 128 itr 294 (sc)] this court held that the charging section and computation provision under the 1961 act constituted an integrated code. the mechanism introduced for the first time under the finance act, 1999 by which cost was explained in the manner stated above was not there prior to 1.4.2000. .....

S.R. Koshti Vs. Commissioner of Income-tax

Court : Gujarat

Reported in : (2005)193CTR(Guj)518; [2005]276ITR165(Guj)

..... said explanation, which was omitted by finance act, 1999 w.e.f. 1st june 1999, it becomes clear that even for ..... - an intimation sent to the assessee under sub-section (1) or sub-section (1b) shall be deemed to be an order for the purposes of sections 246 and 264.'on a plain reading of the ..... order of assessment as envisaged under the provisions of the act, a revised return under section 139(5) could have been submitted by the petitioner on or before 31st march 2003, and in fact, was so submitted on 24th september 2002.12. under section 143, the following explanation was inserted by finance act, 1994 w.e.f. 1st june 1994 :'explanation .....

Commissioner of Income-tax Vs. Rohit Mills Ltd.

Court : Gujarat

Reported in : (1964)0GLR837; [1965]58ITR854(Guj)

..... , be equal to such percentage of the taxable profits as may be fixed by the annual finance act. by finance acts of 1948 and of 1949, the amount of taxable profits was reduced from sixteen and two-thirds per cent. of the taxable profits to ten per cent. section 2(17) defines 'taxable profits' as meaning the amount by which the profits during a chargeable ..... , whichever is greater. the business profits tax was therefore on the percentage allowed under the relevant finance act corresponding to the chargeable accounting period on taxable profits less the abatement computed in accordance with schedule ii of the act. the accounting period, according to clause (2) of section 2, means a period in relation to any business which is or has been determined as .....

Kashiram Textile Mills Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Gujarat

Reported in : [1995]211ITR889(Guj)

..... the meaning assigned to it in the finance act of the relevant year; (c) the amount of income-tax, if any, payable by the company under section 104 of the income-tax act. explanation. - in relation to the assessment year commencing on the 1st day of april, 1964, the ..... clause (viii) of rule 1 included in the total income; (b) the amount of income-tax, if any, payable by the company under the provisions of the annual finance act with reference to the relevant amount of distributions of dividends by it. explanation. - in this sub-clause, the expression 'the relevant amount of distributions of dividends' has ..... making allowance for any relief, rebate or deduction in respect of income-tax to which the company may be entitled under the provisions of the said act or the annual finance act, and after excluding from such amount - (a) the amount of income-tax, if any, payable, by the company in respect of any income referred to in .....

Commissioner of Income-tax, Gujarat Ii Vs. Amul Transmission Line Hard ...

Court : Gujarat

Reported in : [1976]104ITR771(Guj)

..... is not sufficient to absorb the whole of the amount of development rebate which is required to be absorbed. the amendment made in this sub-section (2) by the finance (no. 2) act of 1967 makes it clear that when the total income of an assessee is worked out to see whether it is sufficient to absorb the ..... made quite explicit by the statutory definition of 'gross total income' given in section 80b. 16. the amendment made by finance (no. 2) act of 1967 in sub-section (2) of section 33 suggests the same thing with regard to development rebate. sub-section (2) of section 33 contemplates the method to be adopted for carrying forward the development rebate if the ..... more words in view of the definition of 'gross total income' given in clause (5) of section 80b, and the amendment which is made in sub-section (2) of section 33, which relates to development rebate, by the same finance (no. 2) act of 1967 with effect from april 1, 1968. the definition shows that the expression 'gross total income .....

Motilal Harilal and Co. Ltd. Vs. Commissioner of Income-tax, Bombay No ...

Court : Gujarat

Reported in : [1962]45ITR557(Guj)

..... the income-tax officer in reducing the rebate allowable to the assessee company under clause (ii) of proviso 1 to paragraph d of part ii of the schedule to the finance act, 1956, in terms of clause 1(b) of proviso 2 of the same paragraph was legal and,(2) whether on the facts and in the circumstances of the case the ..... accounting year being the calendar year 1955. the total income of the assessee company for this assessment year was computed at rs. 4,13,561. under the provisions of the finance act of 1956 which was applicable for the relevant period, the assessee company was liable to pay super-tax at the rate of rs. 0-6-9 in the rupee. the ..... follows : 'power to assess individual members of certain companies'. the section is aimed at foiling an attempt to avoid tax by individual shareholders. we have here to interpret the language used in clause 1(b) of the second proviso to paragraph d of part ii of the schedule to the finance act, 1956, which has been quoted by us earlier. what we have .....

Thakorbhai L. Patel and ors. Vs. Assistant District Registrar, Co-op. ...

Court : Gujarat

Reported in : AIR2001Guj66; (2001)3GLR1921

..... sum which ought to have been brought into account, or(d) misappropriated or fraudulently retained any property of the society or of the financing bank for which it is acting as agent under sub-section (3) of section 16, the registrar may inquire into the conduct of such person or officer and after giving such person or officer an opportunity of ..... such payment from the payee and credit it to the funds of the society or as the case may be of the financing bank;provided further that no order shall be passed under this sub-sec, in respect of any act or omission mentioned in clause (a), (b), (c) or (d) except within six years of the date on which ..... or is against the directions or instructions of the financing bank for which the society is acting as agent under sub-section (3) of section 16, or(b) by reason of his culpable negligence or misconduct involved the society or the financing bank for which it is acting as agent under sub-section (3) of section 16 in any loss or deficiency, or(c) .....