Judgment Search Results Home > Cases Phrase: finance no 2 act 1965 section 5 amendment of section 33 Page 10 of about 9,476 results (0.318 seconds)

C. Venkata Reddy and anr. Vs. Income-tax Officer, (Central)-i and ors.

Court : Karnataka

..... further amendment of section 132 took place pursuant to the finance act of 1964 ..... the director of inspection or the commissioner in consequence of information in his possession, has reason to believe that-- (a) any person to whom a summons under sub-section (1) of section 37 of the indian income-tax act, 1922 (11 of 1922) or under sub-section (1) of section 131 of this act, or a notice under sub-section (4) of section 22 of the indian income-tax act 1922, or under sub-section (1) of section 142 of this act was issued to produce, or cause to be produced, any books of account or other documents has omitted of failed to produce or cause to be produced, such books ..... in the travancore case was that whereas section 34 of the indian income-tax act, 1922, underwent the amendments of 1955 referred to above, the corresponding section 47 of the travancore income-tax act continued to be pari materia with the unamended section 31(1) of the indian income-tax act, 1922, their lordships, taking up for decision the point which was left open in the case of mohta, : [1954]26itr1(sc) regarding section 5(1) of the investigation commission act, held that the class of substantial ..... so far as the firm is concerned, the assessments for four years 1962-63, 1963-64, 1964-65 and 1965-66 are pending, that is to say, the returns having been filed they are awaiting scrutiny by the ..... of 1965 which came into force on 6-1-1965 which was replaced by central act no. ..... of 1965 which came into force on 15-3-1965. ..... of 1965. .....

i.T.C. Limited Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1994]205ITR126(Cal)

..... by the amendments made by the income-tax (amendment) act, 1946, the finance act, 1955, and the finance act, 1956, certain initial depreciation was allowed in respect of buildings newly erected or machinery and plant newly installed. ..... therefore, as per the definition of 'written down value', the initial depreciation cannot come within the ambit of the expression 'depreciation actually allowed', and that the meaning of the written down value in section 43(6) shall be its meaning for section 80j as well by virtue of the explanation 3 below section 80j(1a)(ii) and thus the value of depreciable assets should be taken at the written down value determined on the basis of normal depreciation as well as initial depreciation allowed.13. ..... to the assessee less all depreciation acutally allowed to him under this act ; or under the indian income-tax act, 1922 (11 of 1922), or any act repealed by that act, or under any executive orders issued when the indian income-tax act, 1886 (2 of 1886), was in force : provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of sub-section (1) of section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub ..... 2) act, 1965. ..... 2) act, 1965, with retrospective effect from april 1, 1962, there was no scheme for initial depreciation over and above the normal depreciation. .....

Jones (Respondent) Vs. Garnett (Her Majesty's Inspector of Taxes) (App ...

Court : House of Lords

..... covenants continued to have some efficacy for tax purposes (though subject to increasingly stringent conditions) until a general abolition of the relief (for surtax purposes) by section 12 of the finance act 1965. ..... the most striking example of what i have referred to as double vision is chinn v hochstrasser [1981] ac 533, in which this house had to consider section 42 of the finance act 1965. ..... in this connection, as long ago as 1940, in commissioners of inland revenue v payne (1940) 23 tc 610, sir wilfred greene mr discussing a somewhat more simply drafted statutory predecessor of the sections in question here, namely section 38 of the finance act 1938, said this, at p 626, in relation to a scheme whose details are not of significance for present purposes: "the word 'arrangement' is not a word of art. ..... " a comparable definition of "settlement" ("includes any disposition, trust, covenant, agreement, arrangement or transfer of assets") appeared for the first time in subsection (9)(b) of section 21 of the finance act 1936 (provisions as to income settled on children), which was capable of applying to covenanted payments as well as to the income of settled property. ..... so the very wide definition of "settlement" in section 660g(1) of the income and corporation taxes act 1988 (as amended) has a long and fairly complicated pedigree. ..... " the same is true of sections 660a and 660b of the income and corporation taxes act 1988 as amended by the finance act 1995. 42. .....

P.G.F. Ltd. Vs. Union of India (Uoi)

Court : Punjab and Haryana

Reported in : [2005]124CompCas201(P& H); (2004)4CompLJ288(P& H); [2004]55SCL165(Punj& Har)

..... . the respondent through a writ petition filed in this court had challenged the vires of section 24 of the finance act, 1969, by which an amendment was made to the provisions of the wealth tax act, 1957, to include the capital value of agricultural land, for computing 'net wealth', inter alia, on the ground, that under the scheme of the constitution, only the state legislatures had power to legislate on the subject of ..... . in conjunction with the aforesaid factual/legal position, learned counsel invited our attention to the objects and reasons for enacting the sebi act in 1972, as well as the conditions which necessitated various amendments from time to time leading upto the inclusion of section 11aa in the sebi act, to conclude, that the legislative intent was solely aimed at 'investor protection', in order to protect unwary investors from being defrauded by unscrupulous entities ..... learned counsel for the respondents emphatically points out the following facts:--firstly, the activities carried out by the pgfl have all the mandatory features specified in the definition of a 'collective investment scheme' under section 11aa(2) of the sebi act- in this behalf, it is pointed out that all the four mandatory features, have been brought out in the order of the board dated 6-12-2002.secondly, from the salient features of the business ..... . this report led to the companies (amendment) act, 1965, which drastically increased governmental control, over private sector companies .....

Addl. Commissioner of Income-tax, Madras Vs. Rajah Sir M. A. Muthiah C ...

Court : Chennai

Reported in : [1978]112ITR731(Mad)

..... the question arose because section 244 of the income-tax act, 1961, was amended by the finance act of 1965 by raising the rate of ..... submission on behalf of the revenue at whose instance the question has been referred to this court was that since the law has been charged only from april 1, 1965, the interest at the enhanced rate will be payable only from april 1, 1965, on the amounts of tax that were to be refunded pursuant to the order of the appellate assistant commissioner and not from the expiry of six months from ..... was originally provided for and as a result of the amendment to section 244(1) of the income-tax act, it has been reduced to three months. ..... after the change that has been effected on april 1, 1965, if the section is read without bearing the changes in mind, it is clear that ..... was effected from april 1, 1965, the plain meaning conveyed by the wording of the section cannot be abrogated or nullified in order to give a different meaning ..... that the purpose and object is to provide for interest in all cases where refund had not been actually made before april 1, 1965, from the date of expiry of six months from the date of the order referred to in section 240. ..... section 240 imposes an obligation on the income-tax officer to refund the excess tax that had been collected as a result of an order of the appellate assistant commissioner or as a result of any order passed in appeal or other proceedings under this act.the section does not speak of any other order to be passed by the .....

Davy and United Engineering Co. Ltd. Vs. Commissioner of Commercial Ta ...

Court : Kolkata

Reported in : [1978]42STC90(Cal)

..... introduction of the definition of the word 'business' in section 2 of the rajasthan sales tax act, 1954, by the rajasthan taxation laws (amendment) act, 1965, retrospectively was proper and the legislature was competent to give such retrospective effect by the amending act.19. ..... whether or not sales of unserviceable goods, scraps, discarded and surplus materials were exigible to tax under the bengal finance (sales tax) act, 1941, in view of the incorporation of the definition of 'business' by an ordinance promulgated in 1967 (since repealed and saved by west bengal act 25 of 1969), the retrospective operation of which was struck down by the calcutta high court in the case ..... this is a reference under section 21(1) of the bengal finance (sales tax) act, 1941, at the instance ..... section 2(g) of the bengal finance (sales tax) act is ..... our opinion, so far as the bengal finance (sales tax) act, 1941, is concerned the matter is concluded by the judgments of this court and the said act must be read and construed in the ..... raised was whether the sale in question was a sale within the meaning of the bengal finance (sales tax) act, 1941 and, therefore, he was entitled to agitate that a sale within the meaning of the sales tax act must be a sale by a dealer. ..... :(1) whether or not transfers of goods by the applicant-company to other companies of the same consortium against payment of price constituted sales within the meaning of the indian sale of goods act and the bengal finance (sales tax) act, 1941. .....

Thomas John Vs. State of Kerala

Court : Kerala

Reported in : 2010(1)KLT705

..... than the reasonable annual value, the legislature consciously did not provide for a situation where the actual rent received is more than the annual value to be fixed as per sub-clause (i) of sub-section (2) would show that what the legislature contemplated was fixation of value of the building not on the basis of the actual rent received by the owner, but on the basis of annual rent at ..... erecting the building after deducting for depreciation a reasonable amount which shall, in no case, be less than twenty per cent of such cost; and(b) machinery and furniture shall be excluded from valuations under this section:provided further that where the annual value of any building or land which is occupied by or adjacent and appurtenant to buildings is attributable partly to the use of such land or building or any portion thereof ..... section 234 of the kerala municipality act, stands amended by section 76 of the amendment act ..... (2)(i) notwithstanding anything contained in kerala buildings (lease and rent control) act, 1965 (2 of 1965) for the time being in force, the annual value of buildings and lands which are occupied by, or adjacent and appurtenant to buildings shall be deemed to be the gross annual rent at which they may ..... a revision petition under rule 11 of schedule ii of the taxation and finance rules framed under the kerala municipalities act, 1960, which continued to be in force despite the bringing into force of the kerala municipality act, 1994, by virtue of section 575 of the new act. .....

T.K. Baruah Vs. Commissioner of Wealth-tax

Court : Guwahati

..... the following question is referred : 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the calculation of penalty up to march 31, 1969 was to be made under section 18(1)(i) of the wealth-tax act, 1957, as it originally stood from april 1, 1965, to march 31, 1969, as substituted with effect from april 1, 1965, by section 18 of the wealth-tax (amendment) act, 1964, and thereafter under section 18(1)(i) as substituted by section 24 of the finance act, 1969 ?'2. ..... section 18(1)(i) of the wealth tax act, 1957, was amended by the wealth-tux (amendment) act, 1964, and thereafter is substituted by section 24 of the finance act, 1909.8. ..... whatever the stage at which the satisfaction is reached, the scheme of sections 274(1) and 275 of the act of 1961 is that the order imposing penalty must be made after the completion of the assessment. ..... the appellate tribunal held that the assessee failed to submit returns under section 14(1) of the wealth-tax act, 1957, and that proceeding under section 18(1)(a) was properly initiated. ..... the question now is referred under section 27(1) of the wealth-tax act, 1957, for our opinion.7. ..... the reference in this case is made under sub-section (1) of section 27 of the wealth-tax act, 1957. ..... this case relates to five orders of penalty in relation to the assessment years 1964-65, 1965-66, 1966-67, 1967-68 and 1968-69. .....

C. Venkata Reddy and anr. Vs. Income-tax Officer (Central) I, Banglore ...

Court : Karnataka

Reported in : [1967]66ITR212(KAR); [1967]66ITR212(Karn)

..... amendment of section 132 took place pursuant to the finance act ..... where the director of inspection or the commissioner, in consequence of information in his possession, has reason to believe that - (a) any person to whom a summons under sub-section (1) of section 37 of the indian income-tax act, 1922 (11 of 1922), or under sub-section (1) of section 131 of this act, or a notice under sub-section (4) of section 22 of the indian income-tax act, 1922, or under sub-section (1) of section 142 of this act was issued to produce, or cause to be produced, any books of account or other documents has omitted or failed to produce, or cause to be produced, such books ..... and such money, bullion, jewellary or other valuable article or thing represents either wholly or partly income or property which has been not disclosed for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act (here in after in this section referred to as the undisclosed income for or property), he may authorise any deputy director of inspection, inspecting assistant commissioner, assistant director of inspection or income-tax officer (hereinafter referred to as the authorised officer), ..... far as the firm is concerned, the assessments for four years 1962-63, 1963-64, 1964-65 and 1965-66 are pending, that is to say, the returns having been filed, they are awaiting scrutiny ..... 1965, which came into force on january 6, 1965, which was replaced by central act ..... 1965, which came into force on march 15, 1965 ..... to 1965 .....

C.P. Ohrie Vs. Accountant-general and ors.

Court : Karnataka

Reported in : [1981]127ITR122(KAR); [1981]127ITR122(Karn)

..... to the death-cum-retirement gratuity had been paid at any time between the period commencing on the 24th july, 1971, and ending with the commencement of the central civil services (pension) (second amendment) rules, 1973, to any government servant referred to in rule 37 who had elected the alternative of receiving the death-cum-retirement gratuity and a lump sum amount in lieu of pension, such payment ..... servant who has been permitted to be absorbed in a service or post in or under a corporation or company wholly or substantially owned or controlled by the government or in or under a body con-trolled or financed by the government shall, if such absorption is declared by the government to be in public interest, be deemed to have retired from service from the date of such absorption and shall be eligible to receive retirement ..... whatever the object that might have been stated in the notes on clauses, it is clear that the implication from the amendment was that there might be a scheme for payment in commutation of pension different from the provisions in the civil pensions (commutation) rules and persons not governed thereby and ..... act, 1961, came into force and also to the notes on clauses when a further amendment was made by the finance ..... scheme apart from the civil pensions (commutation) rules by which a person is governed, the operation of section 10(10a) must extend to the amount received under that scheme by that person and cannot be limited ..... 2) act of 1965 by which the provision was .....