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Commissioner of Income Tax Vs. Ramlal RajgarhiA.

Court : Kolkata

Reported in : (1992)104CTR(Cal)403

..... learned departmental representative that the provisions of s. 80ab were applicable to the facts of the present case, inasmuch as, we find that s. 80ab was inserted by the finance (no. 2) act, 1980, w.e.f. 1st april, 1981, without having any retrospective effect. on the other hand, we see that the decision of the madras high court in the ..... the appeal of the revenue by observing as under :'we have heard the rival submissions and considered the facts of the case. the insertion of s. 80ab by the finance (no. 2) act, 1980 with retrospective effect from 1st august, 1968 has made it clear that 'where any deduction is required to be made or allowed under any section (except s. ..... case, there was any mistake apparent from the record within the meaning of s. 254(2) of the it act in the tribunals order on ita no. 849(cal) of 1981, dt. 24th september, 1982, which could be rectified by the tribunal by its subsequent order ?'2. the assessment year involved is 1977-78.3. in this case the tribunal allowed .....

Commissioner of Income-tax Vs. Shree Bajrang Electric Steel Co. (P.) L ...

Court : Kolkata

Reported in : [1988]174ITR672(Cal)

..... the new and the old business according to the capital employed and turnover. the commissioner of income-tax (appeals), however, summarily rejected this contention because of the finance (no. 2) act, 1980, by which a new section 80aa had been inserted with effect from april 1, 1968, according to which, for the purpose of computing the deductions ..... claimed this relief in its letter dated february 8, 1979. the commissioner of income-tax (appeals), however, rejected this claim on the ground that by the finance (no. 2) act, 1980, a new section 80aa had been inserted with retrospective effect from april 1, 1968, according to which, for the purpose of computing the deductions under ..... the reassessment proceedings ?'the dispute in this reference relates to the assessees claim for relief under sections 80j and 80-i of the income-tax act, 1961. there was no specific discussion in the order of the income-tax officer but in the appellate order passed by the commissioner of income-tax (appeals), it was .....

Commissioner of Income-tax Vs. Shree Bajrang Electric Steel Co. (P.) L ...

Court : Kolkata

Reported in : [1990]181ITR427(Cal)

..... the new and the old business according to the capital employed and turnover. the commissioner of income-tax (appeals), however, summarily rejected this contention because of the finance (no. 2) act, 1980, by which a new subsection 80aa had been inserted with effect from april 1, 1968, according to which, for the purpose of computing the deductions ..... claimed this relief in its letter dated february 8, 1979. the commissioner of income-tax (appeals), however, rejected this claim on the ground that by the finance (no. 2) act, 1980, a new subsection 80aa had been inserted with retrospective effect from april 1, 1968, according to which, for the purpose of computing the deductions under chapter ..... proceedings ?'3. the dispute in this reference related to the assessee's claim for relief under sections 80j and 80-i of the income-tax act, 1961. there was no specific discussion in the order of the income-tax officer but in the appellate order passed by the commissioner of income-tax (appeals), it was .....

State Bank of India Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1983)6ITD225(Kol.)

..... law stood during the assessment year and the ito did not allow deduction correctly under section 80m. sections 80aa and 80ab were introduced in chapter via by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 and 1-4-1981. it has been stated earlier that for reopening the assessment under section 147(b), only ..... that suspense account interest was not taxable was subsequently confirmed by the cbdt in its letter f. no. 207/10/1973 it (a-ii), dated 16-4-1973 which was addressed to the income-tax adviser and ex-officio deputy secretary, finance department, haryana civil secretariat. even if the decision of the kerala high court is considered along ..... that this enhancement application cannot be accepted. section 36(4) of the state bank of india act has specifically stated that no amount applied for any of the purposes specified in sub-section (2) shall for the purposes of the indian income-tax act, 1922, be treated as income, profits or gains of the state bank. if the amount .....

Smt. Renuka Prasad Vs. the Commissioner of Central Excise, Bolpur

Court : Kolkata

..... with education cess of rs.6,26,826/- and further sum of rs.88,666/- under s & he cess under proviso to section 73 (1) of chapter v of the finance act, 1994, interest at the rate applicable under section 75 of the said chapter as well as the penalty under section 76, 77 & 78 of the said chapter. the facts ..... the service tax within a period of eight weeks. both the orders i.e.order dated 24.08.2010 passed by the respondent no.1 and the order dated 17.04.2013 passed by the cestat, the respondent no.2 herein is the subject matter of the instant writ petition. the main challenge thrown to the aforesaid orders as culled out from ..... tax followed by the penalty and the interest. according to the petitioner, the service tax was demanded under the category of (commercial or industrial construction services) whereas the respondent no.1 have imposed the duty under the category of works contracts services. the order of the cestat is impugned on the plea that the tribunal could not have directed the .....

Bhagwati Prasad Kedia Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (2001)167CTR(Cal)336,[2001]248ITR562(Cal)

..... implementation as and when they are approached.13. here we have been invited to interpret the explanation inserted by the finance (no. 2) act, 1998, incorporated in section 158ba(2) of the income-tax act, 1961 (hereinafter referred to as 'the said act 1961').14. the said explanation is quoted below :'for the removal of doubts, it is hereby declared that- ( ..... and trade pvt. limited, allegedly represented the undisclosed income of the assessee for the block period as defined in section 158b(a) of the income-tax act, 1961 ?2. whether, on the facts and in the circumstances of the case, the tribunal has any material to justify its finding and conclusion that the assessee has ..... of the appellant's case, cited four decisions which are as follows ;(i) shaw wallace and co. ltd. v. cit (asst.) : [1999]238itr13(cal) . (ii) unreported decision in a. p. 0. t. no. 682 of 1999 dated november 17, 2000 (deputy cit v. shaw wallace and co. ltd.--since reported in : [2001]248itr81(cal) ).(iii) s. hastimal v .....

Amitava Mitra Vs. State of West Bengal and ors.

Court : Kolkata

Reported in : [2001]123STC129(Cal)

..... . the notification dated 20th september, 1985 being annexure b to the petition has become automatically ineffective upon the repealing of the bengal finance (sales tax) act, 1941 since no bureau can be constituted under section 19a of the act. hence, the notification as issued as far back as on 20th september, 1985 and the steps taken by the authority pursuant to such notification become ..... . such are as follows :'schedule[see section 2(k)]yearnumbershort title of the specified state act.1941vithe bengal finance (sales tax) act, 1941.1941xithe bengal raw jute taxation act, 1941.1954ivthe west bengal sales tax act, 1954.1974xithe west bengal motor spirit taxation act, 1974.1979vithe west bengal state tax on professions, trades, callings and employments act, 1979.'33. therefore, under no stretch of imagination, such applicability of amendment .....

income-tax Officer Vs. Kamsco Industries (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1983)3ITD359(Kol.)

..... case of cloth traders (supra), allowed deduction at 60 per cent on the gross dividend income. section 80aa, quoted above, was newly introduced by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968.the department has challenged the finding of the commissioner (appeals) on the ground that deduction allowed by the ..... . the department disputes the direction of the commissioner (appeals) regarding deduction allowed by him under section 80m. a new section 80aa was introduced by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968. section 80aa shall be quoted later on. the supreme court pronounced a judgment in the case of ..... dividend and not on net dividend.shri bajoria, the learned departmental representative, referred to section 80aa and stated that the section was introduced by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968. under the circumstances, deduction under section 80m cannot be allowed on the gross dividend of the assessee .....

income-tax Officer Vs. General Investment Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1989)29ITD1(Kol.)

..... the law as interpreted was that the gross dividend was to be allowed as a deduction under section 80m. subsequently, the parliament by enacting section 80aa by finance (no. 2) act of 1980 with retrospective effect from 1-4-1968, provided that: where any deduction is required to be allowed under section 80m in respect of any income ..... original assessments for the assessment years 1977-78 and 1978-79, section 80aa came to be inserted by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 in the income-tax act, 1961 (for brevity the act) which in substance provides that deduction allowable to a company under section 80m should be computed not on the ..... appeal was filed by either side against the order of the appellate asstt. commissioner. by section 32 of the finance (no. 2) act of 1971, section 5(1)(viii) of the wealth-tax act, 1957 was amended withdrawing the exemption on the jewellery with retrospective effect from 1-4-1963. in view of this amendment the appellate asstt. .....

Deputy Director of Tax Credit Vs. National Company Ltd.

Court : Kolkata

Reported in : 76CWN1,[1972]86ITR219(Cal)

..... to issue the impugned notification withholding the benefit of tax credit certificate. it was argued that the statute itself had retrospective operation because chapter xxiib was introduced by the finance act, 1965, in may, 1965, allowing tax credit and export made on and from february 22, 1965. therefore, it was argued the statute clearly had retrospective ..... that paragraph and after sub-paragraph (1) as so re-numbered (as sub-paragraph (1) of that paragraph), the following sub-paragraph shall be inserted, namely :-- (2) no certificate shall be granted under sub-paragraph (1) in respect of any sale proceeds referred to in that sub-paragraph or part of such sale proceeds received after the ..... in column (3) of the said table in respect of such goods or merchandise shall be deemed to be nil and accordingly no certificate shall be granted in respect of such goods or merchandise.'...... 2. this notification shall be deemed to have come into force on the 6th day of june, 1966.' a battle royal was .....