Judgment Search Results Home > Cases Phrase: finance no 2 act 1965 section 5 amendment of section 33 Court: gujarat Page 1 of about 188 results (0.125 seconds)

Commissioner of Income-tax, Gujarat-i Vs. Ahmedabad Keiser-e-hind Mill ...

Court : Gujarat

Reported in : [1981]128ITR486(Guj)

..... that there was no dispute that the assessee's case was covered by the relevant section of the finance act of 1965 and the assessee would have been entitled to rebate at two per cent. ..... the proceeding or any other particulars before him at the stage of the original assessment indicated that the assessee was entitled to such relief under the provisions of the relevant finance act, 1965, so far as the order under reference is concerned. ..... 2(5)(a)(iii) of the finance act of 1964 or of the finance act of 1965, even though no claim was made for that relief by the assessee at the stage of those ..... the finance act, 1965, and the relief which claimed before the aac was claimed for the first time, no claim having been made in that behalf before the ito under the provisions of the finance act, of 1965. ..... the finance act of 1965, being the act 10 of 1965, under ..... by the assessee or the assessment order of the income-tax officer with a view to find out new sources of income and the power of enhancement under section 31(3) of the act is restricted to the sources of income which have been the subject-matter of consideration by the income-tax officer from the point of view of taxability. ..... the finance act of ..... the finance act of 1964 ..... the relevant finance act. ..... act of 1965 ..... against the order of assessment for assessment years 1964-65 and 1965-66, the assessee preferred appeals to the aac and in the course of those appeals it was claimed that the assessee was entitled to rebate at ..... act, 1961, being a section .....

Ahmedabad Manufacturing and Calico Printing Co. Ltd. Vs. Commissioner ...

Court : Gujarat

Reported in : (1981)25CTR(Guj)263

..... 1976 : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in rejecting the assessee's claim for deduction under section 2(5)(a)(i) of the finance act, 1965, on account of export of cloth out of india during the accounting year ending on 31st march, 1965 ?' 10. ..... these provisions contained in finance act, 1964, and finance act, 1965 are in identical terms except for the year mentioned in clause (a) of ..... provision contained in the finance act, 1964, the year mentioned in 1964, while in the finance act, 1965 the year mentioned is 1965. ..... 1976 : 'whether, on the facts and circumstances of the case, the tribunal was justified in rejecting the assessee's claim for deduction under section (2)(a)(i) of the finance act, 1964, on account of export of cloth out of india during the accounting year ending on 31st march, 1964 ? ..... - (1) where the total income of an assessee referred to in sub-clause (i) of clause (a) of sub-section (5) of section 2 of the finance act, 1964 (5 of 1964), includes any profits and gains derived from the export of any goods or merchandise out of india, the amount of such profits and gains in respect of which deduction of income-tax and super ..... the finance act, 1965, for the assessment year 1965-66. ..... the finance act, 1965 : '2 ..... finance act, 1965. ..... the finance act, 1965. 5 ..... finance act, 1965. ..... , i would uphold the finding of the revenue authorities that the assessee is not entitled to any relief under section 2(5)(i) of the finance act, 1963.' 7. .....

Shankerlal Gafurbhai Patel Vs. Commissioner of Income Tax

Court : Gujarat

Reported in : (2004)190CTR(Guj)363; [2004]269ITR508(Guj)

..... per cent gold bonds, 1977, [7 per cent gold bonds, 1980], [and national defence gold bonds, 1980]'{inserted by the finance (no.2) act, 1965, w.e.f. ..... 2) act, 1965, with effect from 1.4.1965, 7% gold bonds, 1980 were added in the said provision and thereafter under taxation laws (amendment and miscellaneous provisions) act, 1965, with effect from 4.12.1965, national defence gold bonds, 1980 were further included ..... commissioner of income tax, tamil nadu-v reported in : [1983]144itr886(mad) the court observed like this:'section 45 of the i.t.act enacts that tax under the head 'capital gains' shall be payable on any profit or gain arising from the transfer ..... date for redemption, as the case may be, if the assessee does not collect the money though so offered and kept ready, he may claim exemption, which is not the intent and purpose of section 5.6.2 learned counsel for the revenue further submitted that the submission of the assessee is also not tenable in law e.g. ..... , any subsequent sale, exchange or transfer of such gold within the meaning of section 2(47) of the income-tax act would attract capital gains tax in respect of capital gain arising from such sale, ..... any subsequent sale, exchange or transfer of such gold within the meaning of section 2(47) of the income tax act would attract capital gains tax in respect of capital gains arising from such sale ..... section 5(1)(xvia) of the act was enacted as under with effect from 13.12.1962 by taxation laws (amendment) act, 1962 :'to exempt 6 1/2% .....

Commissioner of Income-tax, Gujarat-i Vs. Satellite Engineering Ltd.

Court : Gujarat

Reported in : [1978]113ITR208(Guj)

..... but it has also made at least two further concessions in favour of new industrial undertakings since its initial enactment; first, from clause (ii) of sub-section (4) of section 80j, which as initially enacted was in pari materia with clause (ii) of sub-section (2) of section 84, the words 'a building (not being a building taken on rent or lease), have been omitted by the finance act, 1975, with effect from april 1, 1976, and, secondly, a provision for carrying forward has been made in ..... relief. by the finance act, 1969, the time-limit of 23 years in section 80j(4)(iii) was increased to 28 years and by the finance act, 1975, it ..... machinery or plant or part thereof transferred to the new business does not exceed 20% of the total value of the building, machinery or plant used in the business, then the condition laid down in clause (ii) of sub-section (2) shall be deemed to have been complied with and the tax holiday will be available to such industrial undertaking, though, for the purposes of computing the capital employed in such industrial undertaking, the total value of ..... country gained independence in 1947, it was most essential to give fillip to trade and industry from all quarters and this seems to be the background for the enactment of old section 15c and its continuance in the statute book in one form or the other thereafter till this date with progressive amendments made from time to time with a view to extending its benefit for a longer ..... (no. 2) act, 1965, the said time limit was .....

Tata Teleservices Vs. Union of India

Court : Gujarat

..... retrospectively and therefore, no order under section 201(i) of the act can be passed for which limitation had already expired prior to amended section 201(3) as amended by finance act ..... aforesaid financial years, limitation under section 201(3)(i) of the act had already expired on 31/3/2011 and 31/3/2012, respectively, much prior to the amendment in section 201 as amended by finance act, 2014 and therefore, as such a right has been accrued in favour of the assessee and considering the fact that wherever legislature wanted to give retrospective effect so specifically provided while amending section 201(3) (ii) of the act as was amended by finance act, 2012 with retrospective effect from 1/4/2010, it is to be held that section 201(3), as amended by finance act no.2 of 2014 shall not be applicable ..... , [1964-53 itr 231 = air 1965 sc 171], the hon'ble supreme court in para 5 and 6 has observed and held as under :- ..... , reported in air 1965 sc 720 (para 12 and 13) as well as in the case of ..... 1964-53 itr 231= (air 1965 sc 171). .....

In Re: Rangkala Investments Ltd.

Court : Gujarat

Reported in : [1997]89CompCas754(Guj); (1995)1GLR308

..... whether or not it has issued a prospectus inviting the public to subscribe for its shares, shall not at any time commence any business - (a) if such company is a company in existence immediately before the commencement of the companies (amendment) act, 1965, in relation to any of the objects stated in its memorandum in pursuance of clause (c) of sub-section (1) of the section 13; (b) if such company is a company formed after such commencement, in relation to any of the objects stated in its memorandum in pursuance of sub-clause (ii) of clause (d) of sub ..... (c) in the case of a company in existence immediately before the commencement of the companies (amendment) act, 1965, the objects of the company; (d) in the case of a company formed after such commencement, - (i) the main objects of the company to be pursued by the company on its incorporation and objects incidental or ancillary to the attainment of the main objects ..... it is submitted that the prayers in the petitions contemplating automatic changes of the objects clause of the memorandum of association of the transferee company without complying with the requirements of section 17 of the act cannot be granted, since the jurisdiction to permit/confirm alteration in the objects clause of the memorandum of association of the company is vested exclusively with the company law board under the aforesaid ..... investment pools, mutual funds, syndicate in shares, stocks, securities, finance and real estate. ..... to finance industrial enterprises .....

Commissioner of Wealth-tax, Gujarat-iv Vs. Zaverbhai Bapuji

Court : Gujarat

Reported in : [1985]151ITR167(Guj)

..... 18 of the act as amended by the finance act, 1969, for the period between april 1, 1969, and march 18, 1971. ..... 18 of the act as amended by the wealth-tax (amendment) act, 1964, for the period between april 1, 1965, and march 31, 1969, and in accordance with s. ..... the rate of tax is determined by the relevant finance act. ..... act, 1957 (hereafter referred to as 'the act') : 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that penalty was leviable in accordance with the provisions of section 18(1) of the act, prior to its amendment on april 1, 1969, in so far as the returns filed by the assessee in respect of the assessment years 1964-65 to 1968-69 were concerned ?' 2. ..... 18 of the act as it stood prior to its amendment by the wealth-tax (amendment) act, 1964, for the period prior to april 1, 1965, in accordance with s. ..... 14(1) of the act to file the return for the assessment year 1964-65 on or before june 30, 1964, and the return for the assessment year 1965-66 on or before 30, 1965, and as the returns were filed late, penalty proceedings were initiated by the wto. ..... in that case, the assessee had filed his wealth-tax returns for the assessment years 1964-65 and 1965-66 on march 18, 1971. .....

Padmavati Jaykrishna Vs. Commissioner of Wealth-tax, Gujarat Iii

Court : Gujarat

Reported in : [1976]105ITR115(Guj)

..... the court then proceeded to consider what is a mistake apparent from the record and after considering the relevant provisions contained in the amending act came to the following conclusion : 'it is in the light of this position that the extent of the income-tax officer's power under section 35 to rectify mistakes apparent from the record must be determined; and, in doing so, the scopes and effect of the expression 'mistake apparent from the record' has to be ascertained. ..... the ornaments made of precious metal containing any precious or semi-precious stones, or would the term 'jewellery' mean only jewels pure and simple in other words, the substantial question which would arise on the amendment sought to be made effective from different dates is as to what is a legislative intent in giving an enlarged definition, which includes also the articles which were admittedly jewellery and which is to be effective from april 1, 1972 ..... in order to answer this question, we may shortly refer to the provision of the wealth-tax act at it stood prior to the amendment and the amending section in the finance (no. ..... wealth-tax officer, as stated above, did not grant exemption as prayed for by the assessee as in his opinion the articles in question could not be said to be articles for personal uses and, therefore, by his order of may 10, 1965, added the value of the said articles in the net wealth of the assessee. .....

Gujarat Narmada Valley Fertilizer Co. Ltd. Vs. Parver Rustamji Kasad a ...

Court : Gujarat

Reported in : (1994)1GLR5

..... appear and adduce evidence for the purpose of determining the amount of compensation:provided that no such local authority or company shall be entitled to demand a reference under section 18.state amendments: gujarat: in its application to the state of gujarat in section 50 for the words 'may appear and adduce evidence', the words shall be called upon to appear and adduce evidence, if any shall be substituted.from the ..... my opinion, even otherwise, the controversy as to whether a local authority or any company for whose benefit the land is acquired, can be said to be 'person interested' within the meaning of section 18 and whether such party has a right of being impleaded as respondent in reference proceedings on the ground that its interest would be adversely affected in case of enhancement of compensation, is now finally ..... he further submitted that in view of the amendment of section 50(2) of the land acquisition act by the state of gujarat, even statutorily, an obligation is cast on the court to call upon to appear and adduce evidence lo the local authority ..... intention of the legislature to see that since compensation is to come from the fund of the local authority or company, it is vitally interested in safeguarding its finance and interest by pointing out to the collector or the court as the case may be, necessary evidence so as to resist the claim of enhanced compensation or ..... 20 of 1965 and substituted the words 'shall be called upon to appear and adduce evidence, if any' in .....

Chhotabhai Jethabhai Patel and Co. Vs. Commissioner of Income-tax, Guj ...

Court : Gujarat

Reported in : (1981)22CTR(Guj)173; [1982]134ITR201(Guj)

..... several places, as we have shown by underlining from the quotation from the statement annexed to the declaration under clause 68 of the finance act of 1965, the assessee made it very clear and specified that the amount of rs ..... permitted to go back upon the arrangement because it was only on the basis of that arrangement between the assessee and the department that the two disclosures were made, one under the ad hoc scheme of the finance act of 1965 and the other under s ..... certificate was issued on november 25, 1965, by the commissioner, gujarat-i, certifying that the assessee had made a declaration under clause 68 of the finance act of 1965 of income amounting to rs ..... view of this arrangement which was arrived at, it may be pointed out that there was an agreed assessment but the agreed assessment was cast in the form of voluntary disclosure schemes of the finance act of 1965 (what is called an ad hoc scheme) and the scheme under the finance (no ..... whether, on the facts and in the circumstance of the case, tribunal was justified in holding that imposition of penalties under section 271(1)(c) was justified for, (a) assessment year 1962-63, (b) for assessment year 1963-64, and (c) assessment year 1964-65 ?' ..... clause (a), 'any amount declared by any person under this section in respect of which the tax referred to in sub-s ..... if he credits in books of account, if any, maintained by him for any source of income or in any other record, the amount declared as reduced by the tax paid thereon under this section' .....