Court : Madhya Pradesh
Reported in : (2006)204CTR(MP)555
..... notwithstanding anything contained in any other provisions of any law for the time being in force, such appeal or reference or reply shall be deemed to have been withdrawn on the day on which the order referred to in sub-section (2) is passed :provided that where the declarant has filed a writ petition or appeal or reference before any high court or the supreme court against any order in respect of the tax arrear, the declarant shall file ..... act, 1998 and after the settlement was made, the assessee had paid the sum determined by the designated authority within 30 days of the passing of the order and had intimated the fact of such payment to the assessing authority along with proof thereof and the designated authority had thereupon issued the certificate to the assessee on 28-4-1999 under sub-section (2) of section 90 of the finance (no ..... the assessee preferred an appeal on 30-12-1996 before the income tax appellate tribunal, indore bench, indore (for short the tribunal) under section 253 of the act.3. ..... on 21-11-1995, the business premises of the assessee were searched and pursuant to a notice, the assessee filed an original return on 2-7-1996 disclosing nil income for the block period assessment year 1994-95 to ..... on 29-11-1996 under section 158bc of the income tax act, 1961 (for short the act). ..... appeal was pending before the tribunal, kar vivad samadhan scheme, 1998 (for short kvss) was introduced by the finance (no. ..... it(ss)a 84/ind/1996 for the block year 1994-95 to ..... on 26-11-1996. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1988]173ITR126(MP)
..... our answer to the aforesaid two questions is that, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(i) and (ii) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amount representing the drawback of customs duty and the refund of excise duty but not the amount representing the premium gain on the value of yarn entitlement.9. ..... 86,188 incurred by the assessee in the assessment years 1964-65 and 1965-66, respectively, were allowable revenue deductions ?at the instance of the commissioner of income-tax : (4) whether, on the facts and in the circumstances of the case, the amount of rebate allowable under section 2(5)(a)(i) of the finance acts, 1964 and 1965, should be calculated by including in the export turnover the amounts representing the drawback of customs duty, refund of excise duty and premium gain on value of yarn entitlement ? ..... the income-tax officer also rejected the claim of the assessee that the amount of rebate allowable under section 2(5)(a)(i) and (ii) of the finance act in force, should be calculated by including in the turnover the amounts representing drawback of customs duty, refund of excise duty and premium gain on the value of yarn entitlement. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1979]116ITR347(MP)
..... :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that neither the tax liability at the rate applicable in accordance with the finance act of the year concerned on the disclosed income included on assessment nor at the rate of 60% prescribed under section 68 of the finance act, 1965, was deductible in arriving at the net wealth of the ..... under section 68(3) of the finance act, 1965, arose on account of their making a voluntary disclosure under section 68(1) of the act and, therefore, there was no 'debt owed' on the valuation date within the meaning of section 2(m) of ..... [1978]112itr341(ker) further holds that the latter part of section 68 of the finance act, 1965, is only a machinery provision and the earlier provision provides what is envisaged by section 3 of the indian i.t. ..... accordingly be held that the tribunal was not justified in holding that, on the facts and in the circumstances of the case, the tax at the rate of 60% prescribed under section 68(3) of the finance act, 1965, was not deductible in arriving at the net wealth of the assessees under section 2(m) of the w.t. ..... --subject to the other provisions contained in this act, there shall be charged for every assessment year commencing on and from the first day of april, 1957, a tax (hereinafter referred to as the wealth-tax) in respect of the net wealth on the corresponding valuation date of every individual, hindu undivided family and company at the rate or rates specified in the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)204CTR(MP)549; [2007]292ITR488(MP)
..... (2) the tribunal may, at any time within four years from the date of the order, with a view to rectifying any mistake apparent from the record amend any order passed by it under sub-section (1) and shall make such amendment if the mistake is brought to its notice by the assessee or the ao:provided that an amendment which has the effect of enhancing an assessment or reducing a refund or otherwise increasing the liability of the assessee, shall ..... , 1996 under section 158bc of the it act, 1961 (for short the act). ..... , 2001 and had lost sight of the fact that under sub-section (4) of section 90 of the finance (no. ..... order, the tribunal has not just corrected a mistake apparent from the record, but has reconsidered the contentions of the learned counsel for the parties, which were raised at the hearing of the appeal and passed a fresh order holding in effect that the appeal though competent has to be treated as dismissed in view of the order/certificate issued by the designated authority under section 90(2) of the finance (no. ..... the designated authority then issued a certificate for full and final settlement of tax arrears under section 90(2) of the finance (no. ..... the assessee submitted an offer for settlement under the kvss and submitted a declaration under section 89 of the finance (no. ..... , 2001 of the tribunal and the ground taken in the said application filed by the assessee was that under sub-section (4) of section 90 of the finance (no. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2004]137STC269(MP)
..... we are saying so, because on the touch-stone of section 84 read with section 86 of the act, without the issuance of the requisite statutory notification (under the provisions of bihar finance act, 1981), the policy resolution of 1995 by itself was not ..... situate outside the state are entitled to any such benefit has to be considered with reference to the statutory orders made under the bihar finance act because notwithstanding the terms of the policy, unless corresponding provisions are made by issuing notifications/orders under the bihar finance act to carry out the objects of the industrial policy, a trader does not get benefits of any sales tax exemption.'14. ..... dhayanand (1996) 7 scc 47 is that by virtue of section 88 of the punjab reorganisation act, 1966 an administrative order made by the erstwhile state does not automatically lapse and continues to be in force, effective and binding on the successor state unless modified and repudiated. ..... the purchase of raw material, but insofar as the inter-state sale is concerned, no such exemption intention could be gathered or inferred from 1995 policy resolution nor was it permissible under the bihar finance act, 1981. ..... mention that what had fallen for consideration before the supreme court was an administrative order not amounting to law within the meaning of section 2(g) of the punjab reorganisation act--as held by the punjab high court with which the supreme court agreed. ..... commercial tax act, 1994 (in short 'the 1994 act') after coming .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1953]23ITR382(MP)
..... court to cut down the general words imposing the tax by reference to extraneous considerations such as the report of the indian states finance inquiry committee, or possible intention of the legislature gathered from other acts, and that section section 13 of the finance act, 1950, is perfectly intelligible if it is read as keeping alive the state law for the purposes of levy, assessment and collection of tax on the income of the period before 31st march, 1949.in my view, there is considerable force in the argument of the ..... while expressing my dissent from this view, i said :-'i find it difficult to see how section 6 of the general clause act could be invoked in such cases for holding that the effect of the repeal of the government of india act, 1935, is to confirm for ever the rights vested in the citizens just before the commencement of the constitution and deny to the parliament and the state legislature the power of interfering with those rights by enacting retrospective legislation under the powers conferred ..... the short answer to this is that under section 30(1), an appeal lies against any assessment made under any of the sub-sections of section 23 and against certain orders of the income-tax officer which are expressly specified in section 30(1). .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1969MP100; [1969]73ITR95(MP); 1969MPLJ61
..... this liability cannot be affected by imposing the burden of an enhancement in the rate of interest in the absence of anything in section 1 (2) and section 53 of the finance act 1965 to show that the amendment made in section 220(2) expressly or by necessary implication would apply even in those cases where 'the day commencing after the end of the period mentioned in sub-section (1)' falls before 1st april 1965. ..... to the significance of the expression 'the day commencing after the end of the period mentioned in sub-section (1)', as also to the fact that section 1 (2) of the finance act, 1965, itself expressly made the amendment in section 220(2) effective only from 1st, april 1965, there can be no justification whatsoever to apply the enhanced rate of interest of six per cent to cases where the 'day commencing after the end of the period mentioned in sub-section (1)' fell before 1st april 1965.9. ..... the effect of section 1 (2) of the finance act 1965, is that the amendment to section 220(2), effected by section 53 of the finance act raising the rate of interest from four per cent to six per cent, must be deemed to have been included in the principal act as from 1st april 1965.now, interest under section 220(2) is payable 'from the day commencing after the end of the period mentioned in sub-section (1)'. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1983)37CTR(MP)232; [1983]143ITR590(MP)
..... section 2(5)(i) of the finance act ..... of april, 1962, of an amount equal to the income-tax and super-tax calculated respectively at one-tenth ..... prescribed arrangements for the declaration and payment of dividends within india or an assessee other than a company, whose total income includes any profits and gains derived from the export of any goods or merchandise out of india, shall be entitled to a deduction, from the amount of income-tax and super-tax with which he is chargeable for the assessment year commencing on the 1st day ..... of the average rate of income-tax and of the average rate of supertax on the amount of such profits and gains included in the total income.'5. ..... the tribunal in arriving at its conclusion, was right in holding that if the benefits in the form of drawback of customs duty, refund of excise duty and premium gain on value of yarn entitlements to which the applicant-company is entitled are added to the invoice prices of the exported goods, the ussessee would be .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1994)121CTR(MP)116; [1996]221ITR459(MP)
..... by section 40 of the finance act, 1983, it was, however, provided that notwithstanding anything contained in section 13 of the finance act, 1960, wealth-tax shall be charged under the wealth-tax act for every assessment year commencing on or from the first day of april, 1984, in respect of the net wealth on the corresponding valuation date of every company, not being a company in which the public are substantially interested, at the rate of ..... any discrimination or arbitrariness, as complained of by the petitioners and section 40 of the finance act, 1983 cannot be attacked on that count.16. ..... company as defined in the companies act, 1956 (1 of 1956), shall not be a company in which the public are substantially interested and, therefore, will be a company from whom wealth-tax can be charged by virtue of section 40 of the finance act, 1983.10. ..... the provisions of section 40 of the finance act, 1983, are thus arbitrary and offend article 14 of the constitution of india on the ground of ..... or without a further right to participate in profits) carrying not less than fifty per cent; of the voting power have been allotted unconditionally to, or acquired unconditionally by, and were throughout the relevant previous year beneficially held by - (a) the government, or (b) a corporation established by a central, state or provincial act, or (c) any company to which this clause applies or any subsidiary company of such company if the whole of the share capital of such subsidiary company has been .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1960]11STC316(MP)
..... here, the board of revenue found from the assessee's account books that the transactions in question amounted merely to financing the buyers and sellers on an agreement to charge commission and interest and that none of those dealings were entered into by the assessee himself. ..... the questions which are referred to for judgment of this court are the following:(1) whether from the transactions in dispute and evidence on record the assessed is merely a del credere or financing commission agent and does not come under the definition of dealer in respect of charcoal sales? ..... (2) whether in the instant case the assessee can be deemed to have had dominion over the goods in question by virtue of his financing the purchasers and sellers and getting hold of the documents of title?2. ..... 'sale' is defined in section 2(g) as 'any transfer of property in goods for cash or deferred payment,or other valuable consideration, including a transfer of property in goods made in course of the execution of a contract'. ..... and berar sales tax act.6. ..... and berar sales tax act as 'any person who, whether as principal or agent, carries on in madhya pradesh the business of selling or supplying goods, whether for commission, remuneration or otherwise'. ..... and berar sales tax act for determining the question whether certain transactions during the above period were sales or not. ..... and berar sales tax act, 1947. ..... and berar sales tax act why the assessment should not be set aside and a fresh assessment made according to law. .....
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