Judgment Search Results Home > Cases Phrase: finance no 2 act 1977 Court: allahabad Page 15 of about 405 results (0.023 seconds)

Ram Vriksha Son of Rajbali Vs. the Assistant Director of Consolidation ...

Court : Allahabad

Reported in : 2005(4)AWC3872

..... on attaining majority when the petitioner came to know about the entries in the revenue records he filed objection under section 9 a (2) of the act for expunging the name of sawaroo on the ground that sale deed executed by his grand mother during his minority was void as she was not the natural ..... suit for cancellation of sale deed within three years of attaining the majority and the objection has also been field by him after more than one year of publication of notification under section 4 of the act and the consolidation courts have no power to cancel the sale deed hence the objection is liable to be dismissed. ..... a plain reading of section goes to show that after commencement of the act no person is entitled to transfer, alienate or deal with the property of the minor on the ground of his or her being the de facto guardian ..... dispute arises out of proceeding under section 9a (2) of the u.p consolidation of holdings act (for short the act) and relates to plot no. ..... section 11 of the act reads as follows;'de facto guardian not to deal with minor's property- after the commencement of this act, no person shall be entitled to dispose of, or deal with, the property of a hindu minor merely on the ground of his or her being the de-facto guardian of the ..... (45) alr 820 sc has ruled that transfer of a minor's property in violation of section 11 of the act is viod ab initio void. ..... so far as first question is concerned section 11 of the hindu minor and guardianship act 1956 is a complete answer. .....

Ravi Agarwal Vs. Assistant Commissioner of Income-tax, Circle-II, Bare ...

Court : Allahabad

..... in the instant case, the assessing officer has held that the business of giving loans and advances by sarnath finance company constituted less than 20% of the total investment and, therefore, the same is not a substantial part of the business ..... the appellant he had received the loan as a share holder from the finance company in its ordinary course of business and that the lending of money constitutes a substantial part of the business of the finance company and, therefore, the said loan could not be treated as a deemed dividend in view of the provision of sub section (ii) of section 2(22)(e) of the act. ..... that the following question of law arises for consideration, namely: "whether the loan/advance given by the finance company to the assessee, who is a share holder in the finance company was made in the ordinary course of its business, hence outside the scope of section 2(22) (e) of the act." 6. ..... as contemplated under section 2(22)(e) of the act are not disputed by the department and the admitted fact is, that the appellant is a share holder of 15% in sarnath finance ltd. ..... that the balance sheet showed rs.426.32 lacs under the heading stocks on hire and rs.56.23 lacs under the heading "loans and advances" and, therefore, concluded that a substantial business of the finance company was for hire purchase transactions and not for "loans and advances" and, therefore, the loan taken by the appellant was not covered under the exclusionary clause (ii) of section 2(22)(e) of the act. 4. .....

Deoneria Cold Storage and Ice Factory Vs. Commissioner of Income-tax a ...

Court : Allahabad

Reported in : (2003)184CTR(All)39; [2003]260ITR315(All)

..... section 3(a) of the indian post office act, 1898, states :'(a) a postal article shall be deemed to be in course of transmission by post from the time of its being delivered to a post office to the time of its being delivered to the addressee or of its being returned to the sender or otherwise ..... the above provision clearly indicates that merely by posting a letter it does not amount to making a declaration to the designated authority under section 88 of the finance (no. ..... section 88 of the aforesaid finance (no. ..... the central government issued the kar vivad samadhan scheme under the finance (no. ..... a perusal of section 88 of the act clearly shows that the declaration has to be made to the designated authority on or before december 31, 1998, which date had been extended to january 31, 1999.8. ..... section 88 of the act states that the person has to make the declaration to the designated authority by the prescribed date. ..... section 88 of the act as interpreted by us itself shows that it is for the assessee to ensure that the declaration has to reach the designated authority by the date fixed. ..... 2) act, 1998. ..... 2) act of 1998, states as follows :'subject to the provisions of this scheme, where any person makes, on or after the 1st day of september, 1998, but on or before the 31st day of december, 1998, a declaration to the designated authority in accordance ..... 2) act, 1998, which came into force from september 1, 1998, and was applicable till january 31, 1999. .....

Shanti Swarup Bhatnagar Vs. Commissioner of Income Tax

Court : Allahabad

Reported in : (2005)196CTR(All)168; [2005]279ITR451(All)

..... as the returned income is less than 80 per cent of the total assessed income, the explanation, as inserted by the finance act, 1964, was applicable and the onus was on the applicant to prove that the failure to return the correct income did not arise from any fraud or any gross or wilful neglect on ..... it may be mentioned here that by section 40 of the finance act, 1964 the word 'deliberately' occurring in clause (c) of section 271(1) of the act has been omitted and the following explanation was inserted at the end of sub-section (1) :'explanation--where the total income returned by any person is less than eighty per cent of the total income ( ..... prior to the aforesaid amendment made by the finance act, 1964, the apex court in the cases of ..... there was no concealment of income and the levy of penalty was not valid, the madhya pradesh high court and the karnataka high court have not considered the effect of explanation added by the finance act of 1964.15. ..... the tribunal, allahabad, has referred the following questions of law under section 256(2) of the it act, 1961 (hereinafter referred to as 'the act') for opinion to this court :'whether, on the facts and circumstances of the case, the view of the tribunal that penalty under section 271(1)(c) was liable to be sustained is correct in ..... applicant has not been able to rebut the presumption raised under the explanation to section 271(1)(c) of the act which was upon the applicant to prove that there was no gross or wilful neglect on his part .....

Smt. Kusum Jaiswal Vs. Commissioner of Income Tax

Court : Allahabad

Reported in : (2005)193CTR(All)651; [2005]273ITR369(All)

..... it may be mentioned here that by section 40 of the finance act, 1964, the word 'deliberately' occurring in clause (c) of section 271(1) of the act has been omitted and the following explanation was inserted at the end of sub-section (1) ..... since explanation to section 271(1) of the act as inserted by the finance act, 1964 was clearly attracted, the onus was on the applicant to prove that there was no fraud or any gross or wilful neglect on her part and it was not ..... prior to the aforesaid amendment made by the finance act, 1964, the apex court in the cases of cit ..... or benefit of revised return filed by her inasmuch as the original return, which was filed, was neither under section 139(2) nor under section 139(1) but was a return filed under section 139(4) of the act which could not have been revised as held by the apex court in the case of kumar jagdish chandra sinha v. ..... it may be mentioned here that it is not the case of the applicant that the penalty under section 271(1)(c) of act has been imposed by the ito on the directions/dictates of the iac and he had not applied his independent mind or discretion in the ..... , with the incorporation of explanation to section 271(1) of the act, the apex court has held in the cases of cit v ..... 25,000 which was financed out of loans and gifts amounting to ..... , allahabad, has referred the following questions of law under section 256(1) of the it act, 1961, hereinafter referred to as the act, for opinion to this court :'1. ..... devendra singh : [1977]108itr314(all) .....

Lakhimpur Finvest Co. Ltd. Vs. State of U.P. and ors.

Court : Allahabad

Reported in : 2005(2)AWC1608

..... ' has been put forward to assert that since on the date when the recovery of the tax was being made, the vehicle was in possession of the finance company, therefore, the company is liable for the payment of tax dues, whereas in the bombay act there was no such clause with respect to the vehicle being plied on hire-purchase agreement.18. ..... under the provisions of section 51(5) of the act, a right has been conferred upon the finance company to get a fresh registration certificate, by following certain procedure and on satisfying the registering authority that the finance company has taken possession of the vehicle from the registered owner owing to the default under the provisions of the said agreement and that the registered owner refuses to deliver the certificate of registration or has ..... , (1999) 9 scc 1, the contention of the state before the apex court was that the finance company would be liable to pay the taxes (arrears of taxes) against the vehicle for which fresh registration has been sought under section 31a (5) of the motor vehicles act, 1939 (the provision is analogous to section. ..... though section 51 of the act contains 9 sub-sections, but it does not prescribe anywhere that in respect of a motor vehicle subject to the hire-purchase agreement if fresh registration is claimed by the finance company, then the finance company first would have to clear all the pending dues namely, tax and additional tax before getting the registration done, viz. .....

Commissioner of Income-tax Vs. Smt. Raj Kumari Vimla Devi and anr.

Court : Allahabad

Reported in : [2005]279ITR360(All)

..... it may be mentioned here that to overcome this difficulty for the purposes of bringing to tax on capital gain, parliament has inserted section 50c of the income-tax act, 1961, by the finance act, 2002, with effect from april 1, 2003, wherein it has been provided that the value adopted or assessed by any authority of a state government for the purpose of payment of stamp duty in respect of land or building or both shall ..... in this view of the matter, we are of the considered opinion that the rules framed under the stamp act cannot be pressed into service for determining the market value of the property and, therefore, there is no deemed gift in the present case. ..... equally it would not be a basis to determine the market value under section 23 of the land acquisition act, of the lands acquired in that area or town or the locality or the taluk, etc.10. ..... the market value of the property worked out in accordance with the stamp act rules is neither binding on the person who produces the instrument for registration nor on the state government. ..... the tribunal has allowed the appeal on the following grounds :'we are of the opinion that the provisions contained in the stamp act and the rules framed thereunder have the limited object of providing guidelines. ..... whether, on the facts and in the circumstances of the case the tribunal was legally correct in holding that the rules framed under the stamp act are not conclusive of determination of market value of properties ?2. .....

Cawnpore Textiles Ltd. Vs. Commissioner of Income-tax

Court : Allahabad

Reported in : (2006)200CTR(All)203; [2005]276ITR612(All)

..... so far as the cash incentive under the export promotion scheme is concerned it may be mentioned here that section 28(iiib) of the act which has been inserted by the finance act, 1990, with effect from april 1, 1967, provides that the case assistance (by whatever name called) received or receivable by any person against exports under any scheme of the government of india and section 28(iiic ..... received by the assessee under the export promotion scheme benefits from the government represented the income of the assessee taxable within ambit and scope of the charging provisions of the income-tax act, 1961 and were, therefore, rightly included in its total income for the assessment years 1977-78 and 1978-79 ?3. ..... 1985 which relates to the assessment years 1977-78 and 1978-79, the tribunal has referred the following questions of law under section 256(1) of the act for the opinion of this court :'1. ..... for the assessment years 1976-77, 1977-78 and 1978-79, the applicant ..... in respect of the assessment years 1976-77, 1977-78 and 1978-79 also he included depreciation on furniture and car while computing disallowance under the aforesaid section in respect of sri ..... be considered for the purpose of disallowance under section 40a(5) of the income-tax act, 1961 for the assessment year 1977-78 ?'3. ..... which no expenditure was actually incurred, could be treated as an expenditure or allowance for the purposes of disallowance under section 40a(5) of the income-tax act, 1961 for the assessment year 1977-78 ?5. .....

Krishi Utpadan Mandi Samiti Vs. Union of India (Uoi) and anr.

Court : Allahabad

Reported in : (2004)188CTR(All)556; [2004]267ITR461(All); (2004)2UPLBEC1833

..... mentioned that although earlier the expression 'local authority' was not defined in the it act, subsequently by finance act of 2002 it has been defined in the explanation to section 10(20) of the it act as follows:'explanation: for the purposes of this clause, the expression 'local authority' means ..... prior to finance act, 2002, this court could have treated the petitioner as a local authority relying on the general clauses act, it cannot do so now after the above enactment, since now 'local authority' has been defined in the it act itself.21 ..... the petitioner relied has been abolished by the finance act, 2002.8. ..... hyatt air 1971 sc 725, the question was whether under section 17(3) of the it act, 1961, the interest on the assessee's own contribution to an unrecognised provident fund could ..... the contention of the assessee was that the word used in the act was 'for sale' and not 'for sale by him' and hence the goods sold by a third party were also ..... possible to refer to the definitions in other acts, as the it act now specifically defines 'local authority'.10. ..... that in tax matters the literal rule of interpretation applies and it is not open to the court to extend the language of a provision in the act by relying on equity, inference, etc. ..... or(iii) municipal committee and district board' legally entitled to, or entrusted by the government with the control or management of a municipal or local fund; or(iv) cantonment board as defined in section 3 of the cantonments act, 1924 (2 of 1924);'7. .....

Addl. Commissioner of Income-tax Vs. Abbas Wazir (P.) Ltd. and Samad C ...

Court : Allahabad

Reported in : (1979)9CTR(All)169; [1979]116ITR811(All)

..... 2) act, 1967 or section 2(6)(d) of the finance act, 1968, so as to be entitled to concessional rates of tax in the assessment year 1974-75 '3. ..... for the assessment year 1974-75, it had claimed relief under section 2(8)(c) of the finance act, 1974 (20 of 1974). ..... business of......manufacture or processing of goods.........if the income attributable to any one or more of theaforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter via of the income-tax act) is not less than fifty-one per cent. ..... cit : [1978]113itr84(sc) , the supreme court had occasion to consider the expression 'attributable to' occurring in section 80e (as it stood prior to its amendment by the finance (no. ..... of law for our opinion;'whether, on the facts and in the circumstances of the case, the tribunal was legally correct in holding that the assessee-company was an 'industrial company' within the meaning of section 2(7)(d) of the finance (no. ..... 2) act, 1967). .....