Court : Guwahati
..... 15a in the first schedule to the central excise and salt act (hereinafter referred to as 'the said act'), thirty per cent ad valorem duty is liable to be paid on the synthetic resins in any form, whether solid, liquid, or pasty or as powder, granules or flakes or in the form of moulding powders. ..... however, by virtue of powers conferred under rule 8 of the act, the central government had exempted from excise duty any sum that may exceed 80 paise per kg. ..... 35), being the order of the government of india, ministry of finance (deptt. ..... 15a in the first schedule to the act, and that the petitioner, on his free will, had chosen the concessional rate under the notification, considering that it would be advantageous for him to do so. ..... isa in the first schedule to the act. ..... 25) issued under rule 8 of the central excise rules is ultra vires of said rules and the central excises and salt act. 2. .....
Tag this Judgment!Court : Guwahati
..... the board may, from time to time, issue such orders, instructions and directions to other income-tax authorities as it may deem fit for the proper administration of this act, and such authorities and all other persons employed in the execution of this act shall observe and follow such orders, instructions and directions of the board : provided that no such orders, instructions or directions shall be issued-- (a) so as to require ..... under sub-section (l)of section 139 every person,if his total income or the total income of any other person in respect of which he is assessable under the act during the previous year exceeded the maximum amount which is not chargeable to income-tax shall furnish a return of his income or the income of such other person ..... 1963-64, 1964-65 and 1965-66 have been referred by the tribunal under section 256(1) of the income-tax act, 3961 (hereinafter referred to as ' the act'): '(1) whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that penalties under section 271(1)(c) of the income-tax act read with explanation to that section were justified in respect of the assessment years 1963-64, 1964-65 and 1965 ..... or there was furnishing of inaccurate particulars of income as contemplated under clause (c) of sub-section (1) of section 271 of the act and this was done by furnishing the return after 1st april, 1964, the explanation in such a case will be attracted. ..... & insurance) ministry of finance, government of india.'32. .....
Tag this Judgment!Court : Guwahati
..... ajitsaria and sitaram ajitsaria, made declarations under section 24 of the finance (no, 2) act of 1965, wherein they respectively stated that laduram ajitsaria received the ..... the following question of law has been referred by the income-tax appellate tribunal, gauhati bench, under section 256(1) of the income-tax act, 1961, hereinafter referred to as ' the act ' : 'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that the assessee firm had furnished inaccurate particulars of income and, therefore, penalty levied under ..... question that arises for determination is whether the assessee-firm is liable to penalty under section 271(1)(c) of the act because in its return it showed these interest amounts as paid to some other parties instead of the four ..... that being the position, for the purpose of the income-tax act, a firm cannot be equated with the partners because from the relevant provisions of the income-tax act it is quite clear that a firm is an entity which may be assessed as a person as distinguished from the individual partners who ..... knowledge of some of the partners regarding some fact for the purposes of the income-tax act cannot be imputed to the partnership firm as a whole for the purposes of the act, whether for assessment or for penalty. ..... (a)m/s.international finance corpn.1,913.00(b)'surajmal ganeshiram & sons4,500.00(c)'srigopal onkarmal1,988.00(d)'sharma & sons1,960.00(e)'laxminarayan mohanlal723.00(f)'gulabrai .....
Tag this Judgment!Court : Guwahati
..... totally absent in the present case and as such the income-tax officer issued the impugned notice illegally and without jurisdiction ; (2) that since the notice is not under section 147(a) of the act and even if it is assumed that the notice is under section 147(b) it is clearly barred by limitation prescribed under section 149(1)(b); and (3) that the sanction purported to be given by the commissioner of income-tax ..... under this section shall be admissible as evidence against the declarant for the purpose of any assessment proceeding or any proceeding relating to imposition of penalty or for the purpose of prosecution under any of the acts mentioned in sub-section (9) of the wealth-tax act, 1957, in respect of any amount specified in an order made by the commissioner under sub-section (4) or, if such amount is altered by an order of the board under sub-section (6) then ..... being the position we are of the opinion that the conditions precedent for issuing the notice under section 148 of the act within the meaning of section 147(a) of the act are found to be absent in the instant case and, therefore, we hold that the impugned notice is illegal ..... assessee-firm there would have been another hurdle for the department under section 24(11) of the finance (no. ..... it is found that the income-tax officer assumed jurisdiction to issue the notice under section 148 on two grounds, namely, (1) that the assessee filed disclosure petition under the finance (no. ..... out with a disclosure under the finance (no. .....
Tag this Judgment!Court : Guwahati
..... appeal is against the decision or order relating to any duty demanded in respect of goods which are not under the control of customs authorities or any penalty levied under the act, any person desirous of appealing against such decision or order shall, pending the appeal, deposit with the proper officer the duty demanded or the penalty levied. ..... similarly the first proviso to section 19(1) of the assam finance (sales tax) act, 1956 is also different from the proviso to section 129(1) of the customs act, 1962.the first proviso to sub-section (1) of section 30 of the assam sales tax act, 1947 reads as follows :-'provided that no appeal shall be entertained by the said authority unless he is satisfied that the amount of tax assessed or the penalty levied, if not otherwise directed ..... ' similarly the first proviso to sub-section (1) of section 19 of the assam finance (sales tax) act, 1956, reads as follows :-'provided that no appeal shall be entertained-by the said authority unless he is satisfied that the amount of tax assessed or the penalty levied, if not otherwise directed by ..... the point that arises for consideration is whether an appeal under section 128 read with section 129 of the customs act, 1962 is at all entertainablc without deposit of the penalty levied and if entertainable whether the appeal may be heard without ..... of the proviso to section 129(1) of the customs act, 1962 is different from the above provisions of the assam sales tax act and the assam finance (sales tax) act. .....
Tag this Judgment!Court : Guwahati
..... charity and the interest in the return, that such expenses claimed by the assessee without mentioning in the return itself came within the purview of the explanation to section 271(1)(c) of the income-tax act, 1961, and that even assuming that there were certain other items also, which could not form part of the subject-matter of penalty under the explanation to section 271(1)(c) if there were some ..... the facts and in the circumstances of the case, the tribunal was legally correct in applying the provisions of the explanation to section 271(1)(c) of the income-tax act, 1961, as introduced by section 40 of the finance act, 1964 ?'2. ..... and hence the default was covered by the new explanation inserted by section 40 of the finance act, 1964. ..... from the order of the tribunal in the penalty appeal it is found that, according to the tribunal, the explanation to section 271(1)(c) of the act is applicable to the facts and circumstances of the case and, therefore, the burden of proof is on the assessee-petitioner as provided under the explanation and that burden having not been discharged the ..... a reference under section 256(1) of the income-tax act, 1961, and the following question of law has been ..... section 271(1)(c) of the income-tax act, 1961, by order dated february 9, ..... consideration in the instant case is whether, on the facts and in the circumstances of the present case, the explanation to section 271(1)(c) of the income-tax act, 1961, hereinafter referred to as 'the act', is applicable.7. .....
Tag this Judgment!Court : Guwahati
..... investment of the surplus funds, securities of the government of india or the government of assam, or other securities specified in clauses (a), (b), (c) and (d) of section 20 of the indian trusts act and to act as agents of co-operative societies for the purchase and saleof shares and securities.the petitioners contention before the commissioner as well as before this court has been that the securities are the trading assets of ..... securities and sicne the profit and loss was not disclosed in a statement as such dealer in securities, the petitioner was not entitled to the benefit under the aforesaid section of the act.in our opinion, the commissioners finding that only a dealer in securities is entitled to the benefit under section 81 and that a co-operative society, whcih has invested its available funds in ..... business income.secondly, it is found from the order of the income-tax officer that the particular assessee approached the commissioner of income-tax in revision under section 264 of the act against the assessment of tax on interest on securities for the earlier years and the commissioner rejected the revision petitions and upheld the order of the income-tax officer for the ..... out that there are other securities, some trustee securities, shares in other co-operative institutions, some shares in industrial finance corporation, assam financial corporation, agricultural refinance corporation and central warehousing corporation and that some of these investments are .....
Tag this Judgment!Court : Guwahati
..... the following question of law has been referred by the income-tax appellate tribunal, gauhati bench (hereinafter referred to as 'the tribunal'), under section 256(1) of the income-tax act, 1961 (hereinafter referred to as ' the act'): 'whether, on the facts and in the circumstances of the case, the tribunal was justified in setting aside the consolidated order dated march 31, 1970, of the appellate assistant commissioner of income-tax, shillong range, shillong, relating ..... appellate assistant commissioner has also pointed out that there are other securities, some trustee securities, shares in other co-operative institutions, some shares in industrial finance corporation, assam financial corporation, agricultural refinance corporation and central warehousing corporation and that some of these investments are apparently long-term investments.'33 ..... secondly, it is found from the order of the income-tax officer that the particular assessee approached the commissioner of income-tax in revision under section 264 of the act against the assessment of tax on interest on securities for the earlier years and the commissioner rejected the revision petitions and upheld the order of the income-tax officer for the earlier years ..... against the orders of the income-tax officer in the preceding years, the assessee filed revision petitions under section 264 of the act before the commissioner of income-tax, who disposed of the petitions of the assessee on april 19, 1969, confirming the orders of the income-tax .....
Tag this Judgment!Court : Guwahati
..... 33 of 1974) are applicable to the point at issue and we are clearly of the opinion that in an appeal before the board of revenue under the assam finance (sales tax) act, 1956, the board has no power to pass an order resulting in enhancement of the tax assessed by the authority from whose order the appeal has been preferred before ..... thus it is found that in an appeal before the board as provided under section 20a of the assam finance (sales tax) act the department does not come into the picture though for the ends of justice and in compliance with the principles of natural justice the department is also usually heard in an appeal before ..... on comparison of the provisions of section 20a of the assam finance (sales tax) act, 1956 and section 253 of the income-tax act, 1961, it is found that under the assam finance (sales tax) act, the right of appeal has been given to the dealer only and not to ..... baruah, the learned counsel for the petitioner, submits that the board of revenue under the assam finance (sales tax) act, 1956, in deciding an appeal under section 20a has no jurisdiction to pass an order, effecting enhancement ..... comparing the provisions of sub-section (4) of section 20a of the assam finance (sales tax) act and the provisions of sub-section (1) of section 254 of the income-tax act, it is found that in disposing of an appeal, the board has to give the dealer only an opportunity of being heard and then it has to pass such orders thereon as it thinks fit and it has the duty to .....
Tag this Judgment!Court : Guwahati
..... (3) notwithstanding the retirement of a partner from a firm, he and the partners continue to be liable as partners to third parties for any act done by any of them which would have been an act of the firm if done before the retirement, until public notice is given of the retirement:provided that a retired partner is not liable to any third party who deals with the firm without knowing ..... on business and it was registered under section 5 as a dealer under the assam finance (sales tax) act, 1956, hereinafter referred to as the 'act' on 14th april, 1964. ..... (2) a retiring partner may be discharged from any liability to any third party for acts of the firm done before his retirement by an agreement made by him with such third party and the partners of the reconstituted firm and such agreement may be implied by a course of dealing ..... retired, that will not absolve them from the legal liabilities under the provisions of the indian partnership act, because no case of retirement could be made out by them.13. ..... that being so, the dues under the act may be recovered from the two petitioners, namely, suresh chandra kar ..... section 32 of the indian partnership act, 1932, deals with retirement of a partner and it ..... section 2(3) of the act defines 'person' as follows: (3) 'person' means and includes:-(i) an individual,(ii) a hindu undivided or joint family,(iii) a company,(iv) a firm,(v) an association of persons or body of individuals, whether incorporated or not,(vi) a department of any government, (vii) a .....
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