Court : Gujarat
Reported in : (2001)165CTR(Guj)722
..... section 54f was introduced in the act by finance act, 2/1977 with effect from 1-4-1978, for the purpose of exempting capital gain from tax, if sale proceeds of the asset are invested within six months in shares, bank deposits, units of the unit ..... of exemption from tax on capital gain, we are not concerned as it is not a question referred to us.the reasoning of the income tax officer that benefit of investment or deposit in accordance with section 155(10b) of the act is not available on capital gain assessable for the assessment year 1974-75, was also confirmed by the commissioner (appeals).the tribunal rejected the appeal of the assessee.in the opinion of the tribunal, by giving retrospective effect ..... of sub-section (7a) to section 155 was introduced by finance act of 1978, but it was given retrospective effect from 1-4- ..... was sought to be done under section 155(7a) which was introduced by the finance act of 1978 with retrospective effect from 1-4-1974.in reply, the assessee stated that he had made requisite deposits, as required by section 54e(3) of the act, of rs. ..... by the same finance act of 1978, sub-section (10b) to section 155 was introduced not retrospectively but prospectively from 1-4-1978, which enables the 'assessee to invest or deposit whole or part of the additional compensation in ..... to grant any benefit of exemption from capital gain tax to the assessee on the additional compensation received by her on the ground that section 54f(3) as inserted by the finance act, no. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1995Cal160
..... it may next he considered whether by saying that the new definition of 'tax recovery officer' substituted by s.4 of the finance act, 1963 'shall be and shall be deemed always to have been substituted' it could be said that by necessary implication or intendment the state government had been authorized to invest the officers mentioned in the notification ..... the substitution made by the finance act was to make the new definition a part of the act from the date it was ..... extended beyond its legitimate field and the aforesaid words occurring in sec.4 of the finance act, 1963 could not be construed to embody conferment of a power for a retrospective authorization by the state in the absence of any express provision in section 2(44) of the act itself. ..... banerjee, therefore, submitted that keeping in view the fact that by reason of the afore mentioned repeal of the act, legislature having expressed its mention of not reserving any seat for admission in the medical colleges on the basis of caste, the state could not have issued the impugned notification dated ..... whereby and where under the west bengal medical and dental college (regulation and admission) act, 1973 was repeated, the state legislature expressed its intention not to reserve any seats for admission in the medical and ..... coming into force of the west bengal medical and dental college (regulation and admission) repealing act, 1977. ..... to west bengal medical and dental colleges (regulation and admission) repealing act, 1977 (act no. ..... 1977 .....
Tag this Judgment!Court : Chennai
Reported in : [2000]241ITR172(Mad)
..... and shipping agents does not amount to a 'profession' and a firm carrying on such activity is not entitled to the benefit of the lower rate of tax applicable to registered firms as provided in sub-paragraph ii of paragraph c of part i of schedule i to the finance act, 1976, and the finance (no. ..... the claim of the assessee, a professional clearing and shipping agency, madras, was that it is carrying on a profession and should, therefore, be taxed at the lower rate applicable to firms which carry on profession as provided in the finance act, 1979. ..... corporation : (1993)iillj795sc , wherein the supreme court held that the activity is a 'shop' for the purpose of the shops and establishments act as the activity carried on by a shipping clearing and forwarding agency is a commercial activity. ..... 2) act, 1977. ..... the terms 'business' and 'profession' are defined in the act in sections 2(13) and 2(36), respectively. .....
Tag this Judgment!Court : Kolkata
Reported in : [1995]214ITR473(Cal)
..... as regards the amount payable under the water (prevention and control of pollution) cess act, 1977, the assessing officer found that the assessee had two factories, one at amlai and the other at brajrajnagar ..... 2,87,245, which was payable under the water (prevention and control of pollution) cess act, 1977, was outside the mischief of section 43b. ..... tribunal was justified in upholding the order of the commissioner (appeals) to the effect that the unpaid amount under the cement (control) order, 1967, was not hit by the provisions of section 43b of the said act, the tribunal was not justified in upholding the order of the commissioner (appeals), wherein he held that the sum of rs. ..... we find that clause (a) of section 43b of the said act has since been amended by the finance act, 1988. ..... 2,87,245, as was outstanding under the water (prevention and control of pollution) cess act, 1977, was not covered by section 43b of the said act.6. ..... assessee in respect of the unpaid amount under the cement (control) order, 1967, and in the negative and against the assessce in respect of the unpaid cess under the water (prevention and control of pollution) cess act, 1977.7. ..... for the purpose of manufacture of paper and in respect of supply of water, the assessee was required to pay cess under the water (prevention and control of pollution) cess act, 1977. ..... 245 under the water (prevention and control of pollution) cess act, 1977. ..... 851 and under the water (prevention and control of pollution) cess act, 1977, of rs. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 1988(35)ELT34(P& H)
..... 61 was added to the 1st schedule of the central excises and salt act, 1944 (hereinafter called 'the act') by the finance (2) act. ..... whether lamp holders are electric lighting fittings described in entry 61 of the 1st schedule to the central excises and salt act, 1944 and are liable to excise duty is the short but significant question which falls for determination in this writ petition under article 226 of the constitution of india.2. ..... 100/ce/77 dated the 22nd december, 1977, which reads as under : -'sub :- scope of tariff item no. 61-c.e.t. ..... valorem.________________________________________________________________under serial 3 of the act, excise duty is levied and collected in the manner prescribed and the rates set forth in the 1st schedule. ..... 1977 (29 of 1977). ..... in 1977, entry no. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2000)75ITD394(Mum.)
..... had been amended by the finance act of 1977 (supra) and w.e.f. ..... year involved in the present appeal is 1996-97.therefore, we have to deal with the section as it existed before its amendment by the finance act of 1977 (supra).32. ..... it existed before its amendment by the finance act of 1997 (26 of 97) w.e.f. ..... assessment on the basis of the disclosed sources in the return of income should not form the subject-matter of adjudication in the block assessment.keeping in view the scheme of block assessment and other provisions of the act, we are of the considered view that the ao should start the computation of undisclosed income with the figure of returned income filed under s. ..... the learned departmental representative further pointed out that there is a deeming provision under the act where lease of any capital asset for more than specified years is deemed to be a sale for the purpose of computation of ..... (5) of s.80hhf specifically prohibits a deduction under any other provision of the act for the same assessment year if a deduction is allowed in respect of the profit under sub-s. (1) ..... reply the learned counsel for the assessee contended that the term 'sale' was not defined in the it act and, therefore, it was appropriate to refer to r. ..... from the scheme of the act it follows that the job of the ao making block assessments may be confined to the determination of income detected as a result of search and the income which is to be determined in ordinary course on the basis of the books of account .....
Tag this Judgment!Court : Jharkhand
Reported in : (2007)213CTR(Jharkhand)557; [2008]298ITR78(Jharkhand); [2006(4)JCR21(Jhr)]
..... section 32a of the income tax act was inserted by the finance act, 1976 (66 of 1976) with effect from 1st april ..... ' : [1996]219itr223(cal) , a similar question arose for consideration before a division bench of the same calcutta high court on the reference made under section 256(1) of the income tax act as to whether on the facts and in the circumstances of the case, the tribunal was justified in not upholding the finding of the commissioner of income-tax (appeals) to the effect that the computer installed in ..... at the instance of the assessee, on an application filed under section 256(2) of the income tax act, 1961 the income tax appellate tribunal, patna bench, patna, has referred the following question to this court for decision relating to assessment year, 1984-85:(i) whether the tribunal is correct in law in holding that ..... 39,784 and additional depreciation under section 32(1)(iia) of the income-tax act, 1961, on a computer purchased by the assessee during the previous year relevant to the assessment year, it appears to us from the order of the tribunal that there is no dispute that the computer purchased by the assessee is ..... 2) act of 1977, to mean, a company which is mainly engaged in the business of generation and distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods ..... such circumstances was, therefore, held to be an industrial company which has been defined under section 2(7)(c) of the finance (no. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1988)(16)ECC19
..... order the change made by the finance act of 1977 to item no. ..... 33 brought about in 1976 finance act modified the heading to that item to read as "electric fans including regulators".this change according to him applied only to the tariff act and not to the notification as the entry therein relating to electric ..... the only ground on which enlarged period of limitation under section 11a of the central excises and salt act was applied was that in the opinion of the assistant collector there was wilful payment of less duty at ..... , the supreme court was examining a notification under madras city tenants protection act and in this context observed that no resort to the preamble would be justified in interpreting the provision in the act, when the words used in it are clear and unambiguous. ..... the amendment to it came only 16-6-1977 and it was made clear by the budget proposals that the amendment was of a clarificatory nature submitting that a "fan" included regulators even ..... 156/77, dated 18-6-1977 prescribing effective rates for "fans and regulators" indicated that even for the purposes of tariff they were two different articles and that fans were brought ..... facts was therefore justified and the application of the longer period of limitation under section 11a of the central excises and salt act was correct. ..... an indispensable part of the fan and was treated as such by lsi specification and in trade parlance its cost was includible in the assessable value under section 4 of the centra) excises act. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC1707; (1989)3CompLJ319(SC); (1989)77CTR(SC)166; [1990]183ITR43(SC); JT1989(2)SC335; 1989(1)SCALE1567; 1989Supp(2)SCC642; [1989]2SCR994
..... it was also urged that after the introduction of the explanation by the finance act of 1977 with effect from 1 april, 1977 section 9(l)(vii) creates an invidious discrimination among companies which had entered into a foreign collaboration agreement prior to 1 april, 1976 and those who have done so after that date, and that therefore article 14 ..... it was further contended that even after the introduction of section 9(l)(vii) by the finance act of 1976 with effect from 1 june, 1976, the requirement of a business connection of a foreign company was required, and the case was governed by carborundum co. ..... the king, (1946) ac 527:a legislature which passes a law having extra-territorial operation may find that what it has enacted cannot be directly enforced, but the act is not invalid on that account, and the courts of its country must enforce the law with the machinery available to them.in other words, while the enforcement of the law cannot be contemplated in a foreign state, it ..... the appellant approached the income-tax officer for the grant of a 'no objection certificate' as contemplated under section 195(2) of the income-tax act, 1961, to enable it to remit the instalments due without any obligation to deduct any income tax at source, but the request was ..... the commissioner took the view that having regard to section 9(l)(vii) and section 195 of the income-tax act, 1961, the payment constituted income which was deemed to accrue or arise in india and was liable to deduction of tax at .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2008(233)ELT8(SC); [2009]308ITR98(SC); JT2008(12)SC666
..... `manufacture' includes any process-(i) incidental or ancillary to the completion of a manufactured product; and(ii) which is specified in relation to any goods in the section or chapter notes of the first schedule to the central excise tariff act, 1985 (5 of 1986) as amounting to manufacture, or, and the word `manufacturer' shall be constructed accordingly and shall include not only a person who employs hired labour in the production or manufacture of excisable goods but also any ..... act, 1977 w.e.f ..... of central excise, chennai : 2004(174)elt7(sc) in the background of central excise act, 1944 (in short the `excise act') and central excise rules, 1944 (in short the `excise rules') and central excise tariff act, 1985 (in short the `tariff act'). ..... eleventh schedule, which was inserted by finance ( no. ..... (central excise act (1 of 1944) ..... patent and designs act (2 of 1911), section ..... workers and cinema theatre workers (regulations of employment) act (50 of 1981) section 2(i). ..... all these appeals common questions are involved relating to the entitlement of benefit in terms of section 32ab, section 80hh and section 80i of the income tax act, 1961 (in short the `act'). ..... bihar (1961) 12 stc 150, defined the word 'production', albeit, in connection with the bihar sales tax act, 1947. ..... whether the extraction and processing of iron ore amounted to manufacture or not in view of the various processes involved and the various processes would involve production within the meaning of section 32a of the act. .....
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