Judgment Search Results Home > Cases Phrase: finance no 2 act 1977 Court: allahabad Page 22 of about 405 results (0.050 seconds)

M/S. Santkripa Trading Co. Administrative Office and Others Vs. Bank o ...

Court : Allahabad

..... present writ petition is to the instructions dated 13.06.2012 (annexure p-13) issued by the government of india, ministry of finance directing the presiding officers of the debt recovery tribunals to conduct all auctions electronically (for short "the e-auction"). ..... above, had earlier filed writ petitions being writ petition nos.38482/2013 and 38483/2013,challenging the notice issued by the bank under section 13(2) of the act, 2002 which writ petitions were dismissed by the division bench of this court dated 18/7/2013. ..... officers of the debt recovery tribunal is to be conducted in accordance with the income tax act, 1961 and also income tax (certificate proceedings) rules, 1962. ..... the bank has invoked its power under section 13(4) of the act, 2002, hence the action of the bank cannot be said ..... to banks and financial institutions act, 1993 (for short 'the act') confers power under section 29 of the said act with the debt recovery tribunal to sell the property of the certificate debtors in terms of 2nd and 3rd schedules to the income tax act, 1961 and c.w.p. ..... thereafter the bank invoked power under section 13(4) of the act, 2002 and issued e-auction notice dated 25/8/2013 inviting online tenders for auction ..... one where the property is sold to the highest bidder, but only certain persons, or a certain class of persons, are permitted to be present or to offer bids as in the case of an auction sale of property under the partition act, where the right to bid is confined to the co-sharers. .....

income-tax Officer Vs. Gauri Shankar Dalal

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (1983)5ITD340(All.)

..... by the ito and in the assessment year 1973-74 as the ito included half share of the huf in the said three firms in the total income of the assessee by invoking the provisions of section 64(2) of the income-tax act, 1961 ('the act')- similarly, in respect of the assessment years 1974-75 and 1975-76, the ito included half share of the huf in the said three firms in the total income of the assessee. ..... according to him the amendment made by the finance act was by way of clarification only.7. ..... [1975] 99 itr 118, has made the following observation, which clearly supports the assessee's case : from the charging provisions of the act, it is discernible that the words 'income' or 'profits and gains' should be understood as including losses also, so that, in one sense 'profits and gains' represent 'plus income' whereas losses represent 'minus income'. ..... in support of his submission, the learned representative for the department invited our attention to explanation 2 to section 64(2) which was inserted with effect from 1-4-1980 by the finance act, 1979. ..... the learned representative for the department, therefore, submitted that since we are dealing with the assessment year 1977-78, the assessee is not entitled to get the benefit of the said explanation. ..... the assessment year is 1977-78 and the relevant previous year ended on 31-3-1977.3. ..... secondly, it must be 'computed in the manner laid down in the act'. .....

Commissioner of Income-tax Vs. Bazpur Co-operative Sugar Factory

Court : Allahabad

Reported in : (2004)186CTR(All)573; [2003]262ITR45(All)

..... explanation 2 to section 37(2a) of the act was inserted by the finance act of 1983 retrospectively with effect from april 1, 1976. ..... .--for the removal of doubts, it is hereby declared that for the purposes of this sub-section and sub-section (2b), as it stood before the 1st day of april, 1977, 'entertainment expenditure' includes expenditure on provision of hospitality of every kind by the assessee to any person, whether by way of provision of food or beverages or in any other manner whatsoever and whether or not such provision is made by reason of any express or ..... at the instance of the revenue, the following question of law has been referred to this court for its opinion under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the learned tribunal was legally correct in holding that incurring expenses on boarding and lodging facilities given to auditors and government and semi-government ..... section 37(1) of the income-tax act had been amended in the mean time. .....

Sharma Trolly Manufacturers Vs. Government of India and ors.

Court : Allahabad

Reported in : 1986(7)ECC146; 1986(25)ELT506(All)

..... since there is a statutory duty cast on the government of india to dispose of the revision under section 36 of the act which it is not performing, it would be desirable that a mandamus be issued to the respondent to discharge its duty.3. ..... the said revision was filed on may 27, 1980 a copy of which has been annexed as annexure 'a' to the writ petition, and is still pending with the government of india, ministry of finance, department of revenue, new delhi.2. mr. v.p. ..... it has been alleged that under rule 8(1) of the central excise and salt rules the central government is empowered to exempt an unit from the operation of the central excises and salt act (hereinafter referred to as the act) and the liability to pay excise duty thereunder. ..... 1 government of india', ministry of finance, department of revenue, new delhi to dispose of the revision dated may 27, 1980 filed by the petitioner within a period of three months from the date of the presentation of a certified copy of this order. ..... the petitioner thereafter, preferred a revision under section 36 of the act before the government of india. .....

Banwari Paper Mills (P.) Ltd. Vs. Deputy Commissioner of Income-tax an ...

Court : Allahabad

Reported in : [1997]228ITR320(All)

..... the amendment by the finance act, 1993, was made with effect from april 1, 1989. ..... section 143(1a) of the income-tax act was introduced by the amendment to the income-tax act with effect from april 1, 1989. ..... , moradabad, issued an intimation to the petitioner, a true copy of which is annexure 2 to the writ petition, in which certain adjustments have been made in the return and an additional income-tax under section 143(1a) of the income-tax act, amounting to rs. .....

Ram Babu and Sons and anr. Vs. Union of India (Uoi) and anr.

Court : Allahabad

Reported in : (1997)141CTR(All)310; [1996]222ITR606(All)

..... in our opinion, explanation (aa) was to plug a loophole in the act since there was possibility that the goods after purchase may not be exported at all and yet the benefit may be claimed. ..... however, explanation (aa) was inserted by the finance (no. ..... by this petition the petitioner has challenged the constitutional validity of section 80hhc, explanation (aa), of the income-tax act, 1961. ..... (aa) means is that it will not be an export out of india if two conditions are satisfied : (i) it should be a transaction by way of sale otherwise in a shop, emporium or an establishment situate in india; (ii) it should not involve clearance in the customs as defined in the customs act. ..... 2) act of 1991, with effect from april 1, 1986. .....

Rampur Distillery and Chemical Co. Vs. State of U.P. and ors.

Court : Allahabad

Reported in : 2005(1)AWC334

..... , or the commencement of the uttar pradesh bikri kar (dwitiya sanshodhan) adhiniyam, 1963, whichever is later, then without prejudice to any other liability to penalty which the defaulter may, in consequence of such nonpayment, incur under this act, simple interest at the rate of eighteen per cent per annum shall run on the amount then remaining due from the date of expiry of the time specified in the said notice, or from the commencement of the ..... until a higher rate is prescribed, the rate of interest will be eighteen per cent per annum :provided further that in respect of an excise revenue which becomes payable before the commencement of the uttar pradesh excise (amendment) act, 1985 interest at the said rate shall be payable from the date of such commencement if the excise revenue is not paid within three months of the said date.explanation. ..... in the case of calcutta jute manufacturing company (supra) the apex court has considered the provisions of section 10a of the bengal finance (sales tax) act, 1941, which provided for payment of interest by a dealer. ..... dwarika prasad sheo karan dass, 1977 uptc 619 (sc). ..... according to the petitioner during the excise year 1977-78 one m/s. ..... facts were that ram gopal along with hira lal was granted licence by public auction for retail sale of the country liquor in respect of some shops in the district of lalitpur for the excise year 1977-78. .....

Manas Sewa Samiti Vs. Chief Commissioner of Income-tax

Court : Allahabad

..... the supreme court held:- "we shall now consider the effect of insertion of provisos to section 10(23c)(vi) vide finance (no.2) act, 1998. ..... cbdt [2008] 301 itr 86/170 taxman 306 (sc) holding that if the petitioner fulfills the threshold conditions of an educational institute under section 10(23c) (vi) of the act, the authority, in such an eventuality, could not reject the application. ..... notwithstanding the aforesaid, the petitioner applied for registration under section 10(23c)(vi) of the act for the assessment year 2008-09. ..... the assessing officer found that the income of the petitioner was above rs.10 crores and, accordingly, disallowed the exemption claimed by the petitioner under section 10 (23c) (iiiad) of the act on the ground that the registration was required to be obtained under section 10(23c) (vi) of the act. ..... as such, the petitioner fell under section 10(23c) (iiiad) of the income tax act (hereinafter referred to as the act). ..... of an interest free temporary loan by one society to another society having similar objects is neither an "investment" nor a "deposit" and, therefore such loan given does not violate the provisions of section 13(1) (d) read with section 11(5) of the act. 11. ..... registration is granted under section 10 (23c) (vi) of the act. ..... it is contended that an appeal is pending before the high court, under section 260a of the act. 3. ..... the petitioner is a society registered under the societies registration act. .....

Kamlapat Moti Lal Vs. Commissioner, Income-tax

Court : Allahabad

Reported in : AIR1950All249; [1950]18ITR812(All)

..... the decision of the question whether for the purposes of section 25, finance act, 1941, a will should be deemed to be made not at the ..... decision of the commissioners, whether payments out of the income of a lunatic of his committee's remuneration and of the lunacy percentage on his clear annual income payable to the court under section 148, lunacy act, 1890, and the lunacy rules, 1892, rule 183, cannot be deducted from a lunatic's gross income for the purpose of an assessment to super-tax, was held not to operate as res ..... claim under section 10 (2) (vi) a set off of the unabsorbed previous depreciation of the period prior to the transfer, as against the profits earned in the year of transfer, section 10 (2) (vi) of the act is as follows :'such profits or gains shall be computed after making the following allowances, namely:'in respect of depreciation of such buildings, machinery, plant, or furniture being the property of the assesses, a bum equivalent ..... 250), it was assumed that the provisions of section 25, finance act, 1941 were applicable as the will was executed before 1939 although the testator did not die until ..... 'in deciding the question whether the assesses was entitled to get allowance for the unabsorbed depreciation before the date of his purchase the court relied on section 26 (2) of the act which is as follows:'where at the time of making an assessment under section 23, it is found that the person carrying on any business, profession or vocation has been succeeded .....

Motor Industries Company Ltd. Vs. State of U.P. and anr.

Court : Allahabad

Reported in : [1994]95STC490(All)

..... without its being attached to an engine.therefore, for the years 1966-67 and 1967-68 fuel injection pumps and spare parts thereof are taxable at 5 per cent under the bengal finance (sales tax) act, 1941 (as extended to the union territory of delhi) and at 1 per cent under the central sales tax act, 1956, as general machinery, and not at 10 per cent as spare parts of motor vehicles under entry 1 of the first schedule to the bengal ..... in short the contention of the petitioner is that fuel injection equipment is required for the manufacture of diesel engine and is not a part of the motor vehicle specified in entry 43(1) of the schedule to the act as there exists no notification or entry in the schedule regarding the diesel engine ; fuel injection equipments are taxable under entry 38 of the schedule and also the notification dated september 7, 1981, which provides for spare ..... it is true that this rule cannot be used to interpret the clauses in the act but it does show that components of an aircraft, which are machinery, can be treated separately.'6 ..... but prima facie the ordinary meaning of the word 'machinery'--and the word 'machinery' is an ordinary and not a technical word--must, unless there is something in the context, prevail in the indian income-tax act also.according to the above definition, a diesel engine is clearly 'machinery'. ..... sales tax act, but, however, it was denied that being so fuel injection equipment is taxable at the rate of 6 per cent under entry 38 of notification .....