Court : Gujarat
Reported in : (2005)194CTR(Guj)306; [2005]276ITR411(Guj)
..... under consideration under vdis and formed part of total disclosure of rs. 817 lacs. that the commissioner of income tax having issued necessary certificate under section 68(2) of the finance act,1997 regarding the fact of payment of tax on the declared income and thus accepting the declaration it was not open to the respondent to go behind ..... total income for the year. since this income has not been offered for taxation, it has escaped within the meaning of section 147 of the i.t.act,1961. since no scrutiny assessment is made for this year and income escaped is more than rs. 1,00,000/assessment can be reopened with the prior approval of the addl ..... categorically affirmed that while filing return of income for assessment year 1998-99, the first return filed after making declaration under vdis, a note by way of note no. 2 to the return of income clearly states that all entries regarding declaration have been incorporated in the books of account.30. therefore, neither in law was it permissible .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)3GLR1841; (2005)ILLJ592Guj
..... 16th july 1977, 12th june 1978, 18th april, 1979, 2nd march, 1988, 8th february, 1996, 20th december, 1996 and 28th october, 1999. he pointed out that finance department of the state government has issued resolution on 20th october, 1991 wherein it was directed to have 5% cut in the revenue expenditure; review the number of staff, ..... has been introduced for the local authority and more particularly articles 243w and 243-y and sub-clauses (a)(iii) and (b) and 243-y(2), submitted that even the finance commission can direct the local authority to curb their expenses in view of the fact that the state government is required to give grant to the ..... d.a., h.r.a., c.l.a. at par with the permanent employees.2. though, incidentally, the order of reference is passed in special civil application no. 5746 of 1999 where the petitioner is the municipality constituted under the provisions of gujarat municipalities act, 1963, the legal conclusions drawn by us would be applicable to all the statutory .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)218CTR(Guj)541; [2008]307ITR1(Guj)
..... term has to be replaced by the term 'block period'. furthermore, the amendment which is retrospectively made in the definition of the block period by the finance (no. 2) act, 1996, itself indicates that originally the term block period meant as consisting of 10 previous years prior to the previous year in which the search was conducted ..... in any return of income filed by the assessee before the initiation of the search shall be on the assessee.12.1. subsequently by the finance (no. 2) act, 1996 certain amendments in chapter xiv-b of the act came to be made with retrospective effect from 01.07.1995 i.e. the date on which chapter xiv-b of the ..... case of all assessees.(iii) the amendment will take effect retrospectively from 1st july, 1995.12.2. again by the finance (no. 2) act, 1998 certain further amendments were made in chapter xiv-b of the act and the same have been explained by cbdt vide circular no. 772 dated 23.12.1998. the relevant extract reads as under:53. clarificatory amendments in .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)219CTR(Guj)247; [2009]317ITR391(Guj)
..... matters in which common judgment is rendered by this court on 27th april, 1998. he has further submitted that in view of the provisions of section 268a inserted by the finance act, 2008 with retrospective effect from 1st april, 1999 the applicant revenue should not be precluded from filing an application or reference on the same issue in the case of ..... justified in holding that incentive bonus earned by the assessee as development officer of lic was part of salary within the ambit of section 17 of the act and no deductions on account of expenses were permissible?3. the reference was heard by the division bench of this court on 27th april, 1998 and the question was answered ..... 1993. 121 and 132 of 1996; 15, 19 and 49 of 1997 reported as cit v. kiranbhai h. shelat and anr. (1998) 147 ctr (guj) 43--ed.2. in the it ref. no. 132 of 1996, made at the instance of the revenue following question of law was referred:whether in the facts and circumstances of the case the tribunal was .....
Tag this Judgment!Court : Gujarat
Reported in : [1995]214ITR276(Guj)
..... year 1972. the provision came into force with effect from april 1, 1972, through the finance act, 1972. as early as in may, 1972, vide circular no. 86 (see [1972] 84 itr 99) dated may 29, 1972, the finance ministry stated that the deduction of income-tax will be made from sums paid for carrying out ..... clear from these two circulars that the central board of direct taxes, which is the highest authority entrusted with the execution of the provisions of the act, understood sub-section (2) as limited to cases where the consideration for the transfer has been understated by the assessee and this must be regarded as a strong circumstance ..... section 194c is sought to be amended. to the extent it is relevant for present purposes, it is reproduced below (see [1995] 212 itr 122) : '34. (ii) below sub-section (2), after explanation ii, the following explanation shall be inserted, namely : 'explanation iii. - for the purposes of this section, the expression 'work' shall also include - (a) advertising; .....
Tag this Judgment!Court : Gujarat
Reported in : (1984)2GLR1244
..... co-operative milk producers union limited has moved special civil application no. 1459 of 1981 challenging the impugned act of 1981. petitioner no. 1 is the federal co-operative society registered under the principal act while petitioner no. 2 is a member of the federal society. petitioner no. 3 is a member of the executive committee and is the ..... the form of other indirect benefits such as preferential treatment accorded to the co-operatives, exemptions from the corporate tax into a certain extent and concessional finances from the various financial institutions; these are a few of the various support measures extended by the government. i say further, that the membership of a ..... gazette of the central government. 13 members of the committee were to be appointed so as to include one representative each of the education ministry, finance ministry of the union government and three members from amongst the former presidents of the society and the remaining to be the eminent members in the .....
Tag this Judgment!Court : Gujarat
Reported in : [1972]85ITR315(Guj)
..... setting out the section as it stood during the assessment year 1961-62 prior to its amendment by the finance act, 1968 - that if the income-tax officer, in the course of any proceedings under the act, is satisfied that any person has concealed the particular on his income or furnished inaccurate particulars of such income ..... without jurisdiction. the commissioner was aggrieved by this decision of the tribunal and he, accordingly, applied for a reference, but the tribunal took the view that no question of law arose out of its order and the application was, therefore, not maintainable. the commissioner, thereupon, applied to this court and, on his application ..... clause (iii) would exceed rs. 1,000. the income-tax officer, therefore, referred the case to the inspecting assistant commissioner as required by section 274(2) for imposing proper penalty on the assessee. the inspecting assistant commissioner issued a show-cause notice to the assessee and, after hearing the assessee, passed an other .....
Tag this Judgment!Court : Gujarat
Reported in : [1987]165ITR195(Guj)
..... be charged is to be computed or calculated at the rate or rates fixed for the year in question by the annual finance act. when, however, one turns to the relevant finance act, one finds this position. the finance (no. 2) act, 1962, provided the rates of income-tax and super-tax for the assessment year commencing on the first of april, 1962 ..... payable by a registered firm. to trace the historical development to its further development with effect from april 1, 1968, as a result of the provisions of the finance (no. 2) act, 1967, section 114 was omitted and in its place section 80t was inserted. under section 80t which thus came into effect from april 1, 1968, where ..... than four partners or whether the firm had five or more than five partners.this provision of section 2,sub-section [4], of the finance [no. 2] act 1962,is to be found reproduced in the finance act of 1963, as also in the finance act of 1964 which provided the rates for the assessment year 1964-65. for the assessment year 1964-65 .....
Tag this Judgment!Court : Gujarat
Reported in : (1995)119CTR(Guj)150; [1995]211ITR575(Guj)
..... of this decision of the supreme court, we will have to proceed on the basis that the majority view expressed in kamalini khataus case : [1978]112itr652(guj) is no longer good law. our attention was also drawn by learned counsel for the assessee to the decision of the calcutta high court in cit v. shri krishna bandar trust : ..... they became trustees of the trust not because they have mutually agreed to be trustees but because they have been appointed as such under the trust deed. by no stretch of imagination, can it be said that they have joined together in common for the purpose of carrying on an activity which would produce income, profits or ..... , and observed as under (headnote) :'........... the amendment effected by the finance act, 1980, has done away with the deeming provisions whereby a trust, under section 164(1), could be assessed as though it were an association of persons. where, however, a case falls under sub-section (2) of section 164, the tax is chargeable as if the income to .....
Tag this Judgment!Court : Gujarat
Reported in : [2009]313ITR359(Guj)
..... learned senior standing counsel appearing for the applicant-revenue. though served, there is no appearance on behalf of the respondent-assessee.4. on behalf of the revenue it was submitted that the provisions of section 158bb of the act have been amended by finance act, 2002 with retrospective effect from 01.07.1995 whereby the reference to chapter ..... there is a column for deduction under chapter vi. the distinction in form no. 2 and form no. 2b is only with regard to column for set off of brought forward losses and unabsorbed depreciation. section 158bh clearly provides that all other provisions of the act would be applicable to block assessment. thus, there is specific exclusion of ' ..... in accordance with the provisions of chapter iv without giving effect to set off of brought forward losses under chapter vi or unabsorbed depreciation under section 32(2), as per the restrictions provided in section 158bb(4) referred above and it has to be inferred that the income under each of the head of .....
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