Court : Kolkata
Reported in : [1995]213ITR236(Cal)
..... the cost of acquiring and installing the plant and equipment under relevant statutory provisions relating to income and corporation tax allowances.the primary sections are in the finance act 1971. section 44, which in concerned with writing down allowances provides :'(1) subject to the provisions of this chapter where - (a) a person ..... even at that date still subject to negotiation, but the contract between the council and its contractors for the supply and installation of the equipment - central heating systems in 3,000 council dwellings - had been entered into many months before. the obvious inference is that the council entered into the contract ..... in council cart parks, boilers installed in council officer, cremators installed in a council crematorium, plant and equipment installed in a council swimming pool and central heating installed in council flats or council houses and entry phone or alarm system installed in blocks of council flats. the only difference between these various .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)124CTR(Cal)201,[1995]211ITR79(Cal)
..... of fair play in action. in our view, therefore, the requirement of an opportunity to show cause being given before an order for purchase by the central government is made by an appropriate authority under section 269ud must be read into the provisions of chapter xx-c. there is nothing in the language of ..... as annexure 'e' and they were responsible not only for the purpose of policy-making but also for discharging day-to-day duties and responsibilities which include finance, accounts, income-tax, etc., and subsequently they all are conjointly responsible for the conduct of the business of the company and thus they all are liable for ..... application was modified by giving liberty to the respondent authorities to commence and conclude the assessment proceedings after taking into consideration the provisions of section 43b of the act and to pass a final order. the respondent authorities were, however, restrained from giving effect to or enforcing or communicating the said order to the petitioner .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)126CTR(Cal)69,[1995]212ITR496(Cal)
..... , 1967. therefore, when the return for the assessment was filed the cash compensatory support must be deemed to have been taxable. it is also said that by virtue of the finance act, 1993, section 143(1a) had been amended so that additional tax can be imposed even if after the adjustment the assessee would suffer loss. this amendment, it is pointed out ..... return as filed, without doubt or debate. this is clear from the language of the section and is supported by the authority as well as the circulars issued by the central board of direct taxes in this connection.27. in the case of khatau junkar ltd. v. k.s. pathania : [1992]196itr55(bom) , a division bench of the bombay high ..... s.r.f. charitable trust v. union of india [1992] 193 itr 95.29. in circular no. 581 (see [1990] 186 itr 2) dated september 28, 1990, issued by the central board of direct taxes, it has been said that the scope of the powers to make prima facie adjustments under section 143(1)(a) is 'somewhat coterminous with the power .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR412(Cal)
..... from the income-tax department for any particular property sale.'21. he stressed the fact that the new chapter giving the central government the pre-emptive right of purchase was inserted by the finance act, 1986, in implementation of this long-term policy statement. therefore, this shows the legislative intent to make the limitation rigid ..... competent jurisdiction alone can be added to the period of two months. that the rigidity of limitation is a definite and deliberate legislative act is clear from the observations of the finance minister in the long-term fiscal policy announced in december, 1985. in paragraph 5,30 of the said policy statement, the following ..... interest of the petitioner-society. the order could have been unexceptionable if it were the contemplation of the law that the central government would step into the shoes of thelessee and do all acts necessary for specific performance under the lease agreement. that not being possible, the case is not one that the chapter .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR298(Cal)
..... [1973] 88 itr 80) (f. no. 166/1/73-i. t. (a1)), dated february 17, 1973, issued by the central board of direct taxes, explaining the meaning of industrial company under explanation to section 2(7)(d) of the finance act, 1966. it was explained by mr. poddar, that the expression 'industrial company' is defined each year by the relevant ..... different qualities and blending the same by mixing one type with another, claimed that it was an industrial company within the meaning of section 2(7)(c) of the finance act, 1978, and was entitled to concessional rate of tax. this court held that the assessee was an industrial company entitled to this benefit. there, this court considered ..... is whether the assessee could be said to be an industrial company or not for the purpose of determining the rate of taxes applicable to it under the relevant finance act, 1982. therefore, it is necessary to reframe question no. 1 as under :'whether, on the facts and in the circumstances of the case, the tribunal was .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]208ITR807(Cal)
..... race horses are of no aid since such decisions are concerned with the question in the context of the law that prevailed before the insertion of section 74a by the finance act, 1972, having effect from april 1, 1972. for example, in janab a. syed jalal sahib v. cit : [1960]39itr660(mad) , the assessee, besides carrying on the business ..... that no portion of the loss shall be carried forward for more than four assessment years immediately succeeding the assessment year for which the loss was first computed.' 12. the central board of direct taxes in circular no. 158, dated june 17, 1974, explained the scope of the said section in the following terms:--'34. carry forward and set ..... of income except his winnings from races nor is it allowed to be carried forward to be set off against income from any source in any subsequent year. the finance act, 1974, has amended section 74a so as to provide that the losses incurred by owners of race horses in the activity of owning and maintaining such horses, to .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]207ITR130(Cal)
..... or after the 1st day of april, 1958. (vijay mathur),director (tpl-ii).ministry of financedepartment of revenue.' 9. the aforesaid two notifications were followed by the finance act, 1989, section 26 of which provided-'26. notwithstanding anything contained in the notification of the government of india in the ministry of home affairs, no. s. o. ..... convenience. the enabling powers of the president do not take away anything from the legislative competence of parliament to restrict or enlarge the area of operation of a central act.23. in that view of the matter, this writ petition succeeds and there would be an order as prayed for in terms of prayers (a), (b ..... each such enactment for the commencement thereof, the provisions of each such enactment shall come into force in the state of sikkim on such date as the central government may, by notification in the official gazette, appoint : provided that different dates may be appointed for different provisions of the enactment and for different areas .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1993Cal78
..... in the writ petition by reason of the provision of sections 6 and 14 of the west bengal taxation tribunal act, 1987 as amended by west bengal taxation tribunal (amendment) act, 1992 read with notification of finance department no. 2697 ft dated 28th april, 1992. our attention was also drawn to art. 323b of ..... 1973. ................................... section 14. exclusion of jurisdiction of courts.-- (1) on and from the date from which jurisdiction, powers and authority becomes exercisable under this act by the tribunal, the high court or any civil court except the supreme court of india shall not be entitled to entertain any proceeding or to exercise any ..... the principles mentioned hereinbefore and the express provisions of s. 9(2) of the mines and minerals (regulation and development) act, 1957, this submission cannot be accepted. this field is fully covered by the central legislation.' 27-30. in orissa cement : [1991]2scr105 (supra) the supreme court made an indepth analysis of the orissa .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1993)45ITD22(Kol.)
..... while making the assessment for this year. interestingly, the department was aware of this position as can be seen from the memorandum explaining the amendment introduced by the finance act, 1989. at para 9.6 above (see page 191 supra), we have set down the amendment providing for the adjustment of amounts transferred from the book profit ..... bench shall consist of one judicial member and one accountant member. (3) the president or any other member of the appellate tribunal authorised in this behalf by the central government may, sitting singly, dispose of any case which has been allotted to the bench of which he is a member and which pertains to an assessee whose ..... on september 8, 1992, to take up the matter, the revenue presented a petition dated september 8, 1992, signed by shri s.halder, appellate assistant commissioner, central circle-xii, calcutta, stating that there was no difference of opinion on the point raised in this case, that the decisions so far rendered by the benches of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]207ITR743(Cal)
..... the appropriate authority has, therefore, travelled beyond the limits of the prescribed jurisdiction under section 269ud for determining the apparent consideration in directing the purchase by the central government of lot 'a' at an amount which cannot be considered to be equal to the amount of the apparent consideration. the impugned order, therefore, ..... karnataka high court appears to have held that the transferee could not challenge the order of the appropriate authority for purchase of the immovable property by the central government under section 269ud. the facts of that case are somewhat different from those which are being considered by me. an agreement had been entered ..... -emptive right of purchase. this was followed by the budgetary speech at the time of introduction of the finance bill, 1986, containing the proposal to introduce chapter xx-c in the act, in which the finance minister has also referred to the right under that chapter as a pre-emptive right to purchase properties. .....
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