Judgment Search Results Home > Cases Phrase: finance no 2 act 1980 section 2 income tax Court: guwahati Page 1 of about 52 results (0.121 seconds)

Assam Frontier Tea Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court : Guwahati

..... petition was filed by the company on august 17, 1984, against the union of india, the commissioner of income-tax, north eastern region, shillong, and the inspecting assistant commissioner of income-tax, assessment range-ii, gauhati, to declare sub-sections (9), (10) and (11) of section 40a of the income-tax act, 1961, ultra vires articles 14, 265 and 300a of the constitution of india. ..... 4 crores cannot be deducted as 'section 40a(9) brought in by the finance act, 1984, with retrospective effect from april 1, 1980, specifically provides that such contributions are not to be ..... the finance bill, 1984, which inserted sub-section (9) to section 40a was done to subserve clause (iv) or clause (v) of sub-section (1) of section 36. ..... above plea of the company, we, perforce of historical reasons, have to refer to the speeches of the finance minister when the finance bill of 1980 and the finance bill of 1984 were introduced. ..... in the notes, regarding sub-section (9), it is recited : 'the proposed provision will take effect retrospectively from april 1, 1980, and will, accordingly, apply in relation to the assessment year 1980-81 and subsequent years' (see [1984] ..... the speeches and, in particular, the speechof the finance minister introducing the finance bill, 1984, do point out that all assessees in this regard ..... adverting to some devices adopted by the erring employers, the finance minister reiterated : 'while on this subject, i would like to refer to a tendency noticed to create private trusts .....

Senairam Doongarmal Agency (P.) Ltd. and Others Vs. K.E. Johnson and O ...

Court : Guwahati

..... . he further contended that if the policy of the whole act is prevention of evasion, then both sections 37(1) and 37(2) apply in the same field and serve the same purpose, namely the prevention of evasion.dr.paul contended in reply that the preamble of the finance act of 1956, which introduced section 37(2) by way of an amendment, in the income-tax act, disclosed the policy, namely, the giving effect to the finance proposals of the central government ..... never concealed any book or document in all the proceedings prior to 1960-61 and paid all their tax dues up to that year and against whom there was no proceeding for any escaped assessment under section 34 of the income-tax act, should turn overnight into such a tax evaders as to deserve drastic action under section 37(2) of the income-tax act.it is true that the income-tax authorities have a duty to collect tax for the public exchequer but at the same time they have an equally important duty to ..... court under the code of civil procedure, 1980 (v of 1980), when trying a suit in respect of the following matters, namely :(a) enforcing the attendance of any person and examining him on oath or affirmation;(b) compelling the production of documents; and(c) issuing commissions for the examination of witnesses;and any proceeding before an income-tax officer, appellate assistant commissioner, commissioner or appellate tribunal under this chapter shall be deemed to be a judicial proceeding within the meaning of sections 193 and 228 and .....

George Williamson (Assam) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1991)37ITD392(Gau.)

..... he noted that in the original assessment the assessing officer allowed the weighted deduction claimed by the assessee; but the commissioner of income-tax set aside the assessment by invoking the provisions of section 263 of the act and that is why the assessing officer took up the matter afresh. ..... ponnoave [1970] 75 itr 174 the hon'ble supreme court had occasion to deal with section 4 of the finance act, 1963 which was substituted by a new definition of "tax recovery officer". ..... as stated earlier, the accounting year of the assessee ended on 30-6-1980 of course section 35b(1)(b)(ix) indicates that such deduction on account of export market development allowance would be allowable on such other activities for the promotion of the sale outside india of such goods, services or facilities as may be ..... to him, the tribunal had decided the various points from which it is clear that there is no case for the assessee to claim such relief as the accounting year followed by it ended on 30th june 1980, i.e. ..... 859 incurred for maintenance outside india of warehouse for the promotion of sale of tea outside india during the previous year ended on 30-6-1980.9. ..... 859 incurred for maintenance outside india of warehouse for the promotion of sale outside india of tea during the previous year ended on 30-6-1980. 2. ..... assessing officer pointed out that the claim of the assessee cannot be accepted as, according to him, rule 6aa came into effect from 1-8-1981 and the assessee's accounting year ended on 30-6-1980. .....

Jyoti Forge and Fabrication and anr. Vs. State of Assam and ors.

Court : Guwahati

..... pooran mall & sons (supra), the apex court referring to the provisions of the income tax act and the rules held that even if the period of time fixed under section 132(5) of the act found to be mandatory, that was satisfied when the first order was made. ..... did the legislature intend to attenuate or curtail the appellate powers which it conferred on the appellate tribunal in very wide terms under sub-section (4) by enacting sub-section (2)(b) prescribing a time-limit on the commissioner's power to revise an erroneous order of the income tax officer when the commissioner was seeking to exercise the same not suo motu but in pursuance of or obedience to a direction from the appellate ..... the case back to the commissioner for making a fresh assessment in the light of the observations made by it in its judgment or it could, after calling for a remand report, rectify the erroneous order of the income tax officer.further there was no period prescribed within which an appeal against the impugned order of the commissioner had to be disposed of by the tribunal and in the normal course on rare occasions such appeals would have been ..... sons) and (1980) 1 scc 370 (commissioner of income tax v. ..... counsel, finance department submits that the revisional authority even after setting aside the order passed on rectification proceeding was within its competence and jurisdiction to issue direction for fresh rectification order as per the provisions of the act. ..... standing counsel, finance department. .....

Commissioner of Income-tax Vs. Gurudayalram Mukhlal

Court : Guwahati

..... so far as levy of penalty for concealment of income or furnishing of inaccurate particulars of income in cases where section 271(1)(c) (asamended by the finance act, 1964) applies (as in the present case) is concerned, the aforesaid principle will have to be read in the light of the explanation to sub-section (1) of section 271 which was inserted with effect from january 1, 1964. ..... by this reference under section 256(1) of the income-tax act, 1961, the income-tax appellate tribunal, gauhati bench, gauhati, has referred the following question of law to this court for opinion ; 'whether, on the facts and in the circumstances of the case, the tribunal was right in cancelling the penalty levied by the inspecting assistant commissioner under section 271(1)(c) of the income-tax. ..... the undisputed position is that levy of penalty in this case is governed by section 271(1)(c) of the act (as amended by the finance act, 1964). ..... even the fact that the assessee agreed to the inclusion of cash credits or other amounts in the total income on account of his inability to prove the source or to avoid protracted litigation with the department may not justify imposition of penalty unless the income-tax officer has some material to satisfy him that the disputed amount represented the income of the assessee (sir shadilal sugar and general mills ltd. v. ..... cit [1980] 123 itr 57). .....

Jyoti Forge and Fabrication and anr. Vs. State of Assam and ors.

Court : Guwahati

Reported in : (2010)31VST76(Gauhati)

..... mall & sons reported in : (1974) 96 itr 390 (sc) and national taj traders : (1980) 121 itr 535 (sc) : (1980) 1 scc 370 their lordships of the supreme court were taking into consideration the provisions of the income-tax act which though are not pari materia in language but on principles are the same. ..... in its opinion when it observed that once the order has been made within 90 days the aggrieved person has got the right to approach the notified authority under section 132(1) of the then income-tax act within 30 days and that authority could direct the income-tax officer to pass a fresh order. ..... the appellant-writ petitioner being aggrieved by the said order filed a revision petition before the joint commissioner, sales tax, who vide his order dated august 23, 2001/november 5, 2001 observed that in accordance with section 37 of the act service of the notice upon the assessee was mandatory and, as noticed above, the notice was served on october 16, 2000 and much before that on september 26, 2000 the ..... in our opinion it was rightly found by the revisional court that the principles of natural justice and the mandatory command of section 37(1) proviso were violated by the assessing officer in view of the facts that the appellant-writ petitioner was required to appear on september 21, 2000 while the notice was received by him on october ..... (gauhati) : (1988) 2 glr 285 the question of interpretation of section 12(1) of the assam finance (sales tax) act, 1956 was under consideration. .....

Jalan Timbers Vs. Commissioner of Income-tax

Court : Guwahati

..... cit : [1985]152itr507(delhi) , wherein the delhi high court held that section 68 of the income-tax act makes it clear that in respect of a cash credit entry the explanation offered by the assessee can be rejected by the income-tax officer on cogent grounds. ..... 5(m) of 1991, the tribunal has referred the following questions under section 256(2) of the income-tax act, 1961 (for short 'the act'), for opinion of this court : ' 1. ..... on going through the tribunal's judgment, we find that the tribunal observed thus : ' of course, confirmation letter was filed but in the instant case, the income-tax officer went further and verified the assessment records of that creditor from which he found various facts as mentioned in the assessment order and as discussed by us above. ..... being aggrieved, the assessee preferred an appeal before the commissioner of income-tax (appeals) and the commissioner of income-tax(appeals) after hearing the appeal disposed of the same holding that the assessee discharged their onus regarding receipt of the cash credit ..... that being the case, the accounts are relevant and afford prima facie proof of the entries and the correctness thereof under section 34 of the evidence act, so that where a deposit is found to have been made by a third party in the accounts of the firm, that entry is prima facie proof that that amount in question was deposited by the person in whose name the deposit ..... precision finance p. ..... in the accounting year 1980-81, the assessee received a loan of rs. .....

Commissioner of Income-tax Vs. Veneer Mills Pvt. Ltd.

Court : Guwahati

..... the following question has been referred at the instance of the revenue to this court by the income-tax appellate tribunal, guwahati bench, guwahati, under section 256(1) of the income-tax act, 1961 (for short, 'the act') : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the payment of interest of rs ..... income-tax officer disallowed deduction of this amount from the assessable income on the ground that interest was paid for delayed payment and was penal in nature akin to interest under section 220(2) of the income-tax act, 1961, and the same is not covered by section 36(1)(iii) of the income-tax act. ..... cess act, 1956, can be claimed as deduction under section 10(2)(xv) of the indian income-tax act, 1922, corresponding to section 37 of the 1961 act. ..... that is the only ground on which the revenue resists the claim of the assessee to a deduction of the interest under section 10(2)(xv) of the indian income-tax act, 1922, the assessee is entitled to succeed. ..... during the previous year corresponding to the assessment year 1977-78, the assessee paid interest on sales tax dues to the state government under the provisions of the assam finance (sales tax) act, 1956, as also interest for delayed payment of forest kist amount due to the government for some prior years ..... cit : [1980]123itr429(sc) has held that the interest paid on sugarcane cess under section 3(3) of the u. p ..... 's case : [1980]123itr429(sc) considered the provisions of the u. p .....

Goyal Trading Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (1989)28ITD265(Gau.)

..... there was nothing in section 24 of the finance (no.2) act, 1965, which prevented the income tax officer, if he was not satisfied with explanation of the assessee about the genuineness or source of the amount found credited in its books, although the same had already been made subject to declaration by the creditor and taxed under the amnesty scheme, to ascertain true nature and source of credit.mere filing of a return under amnesty scheme would not automatically give rise to amnesty to assessee ..... , b-ward, would change in view of the filing of the revised return showing higher amount is not tenable.in fact, section 143 or the clauses thereunder do not suggest such change of jurisdiction, the income tax officer, b-ward, who made the original assessment and initiated the proceedings would continue to hold the same jurisdiction.income shown in original return filed by assessee to determine competence and jurisdiction not to be judged on the basis of revised return.there is no express terms ..... ram nath prem kumar [1980] 124 itr 404. ..... cit [1980] 125 itr .393, in which the decision of the hon'ble allahabad high court at pioneer trading syndicate v. ..... works [1980] 122 itr 306.18. ..... [1980] 122 itr 301, as also as decided by the hon'ble punjab and haryana high court in the case of cit v. .....

Commissioner of Income-tax Vs. Goslino Mario and ors.

Court : Guwahati

..... on the facts and in the circumstances of the case, the tribunal was right in law in holding that the explanation added to section 9(1)(ii) of the income-tax act, 1961, by the finance act, 1983, with retrospective effect from april 1, 1979, was only procedural in nature and as such applicable to the assessee's case ?5 ..... italian concern was salary earned in india within the meaning of section 9(1)(ii) (as it stood before amendment) of the income-tax act, 1961, and as such assessable under the income-tax act, 1961 ?4. ..... of the assessees that the salary and allowances were not taxable in india was not accepted by the income-tax officer who completed the assessment under section 143(3) of the income-tax act, 1961, hereinafter referred to as the act. ..... questions of law have been referred to this court under the provisions of section 256 of the income-tax act, 1961, for its opinion : '1. ..... the facts and in the circumstances of the case, the tribunal was right in law in holding that the rupee payment taken in india in the shape of daily allowance was not exempt from tax under section 10(14) of the income-tax act, 1961 ?6. ..... concern was assessable in the hands of the foreign technician in terms of section 15, read with sections 5 and 9(1)(ii) of the income-tax act, 1961 ?2. ..... pgnatale's case, : [1980]124itr391(guj) and a reference was made to the principle accepted after the decision of the house of lords in ..... pgnatale, : [1980]124itr391(guj) which is a decision of a division bench of the gujarat .....