Court : Kolkata
Reported in : [1967]20STC528(Cal)
..... the assessee-dealer moved this court under section 21(3) of the act and obtained an order calling upon the board to make a statement of case on the following questions of law :(i) whether the defects in the declaration in form xxiv furnished are vital to justify the disallowance of the deduction claimed under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, in respect of sales of ..... messrs diana distributors ;(xi) whether there are admissible evidence and vital defects in the declaration in form xxiv furnished to justify disallowance of the deduction claimed under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, in respect of sales of rs. ..... messrs rabindra & company ;(ix) whether there are admissible evidence and vital defects in the declarations in form xxiv furnished to justify disallowance of the deductions claimed under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, in respect of sales of rs. ..... messrs lakhi stores;(viii) whether there are admissible evidence and vital defects in the declaration in form xxiv furnished to justify disallowance of the deduction claimed under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, in respect of sales of rs. ..... messrs biswanath choudhury;(vii) whether there are admissible evidence and vital defects in the declaration in form xxiv furnished to justify disallowance of the deduction claimed under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, in respect of sales of rs. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2005)92ITD468(Kol.)
..... the new sub-section (2) of section 32 as substituted by the finance act, 2001 ..... in view of the amended provisions of section 32(2) amended by the finance act, 1996 by observing and saying that the unabsorbed depreciation pertaining to the assessment years 1995-96 and 1996-97 cannot be set off against income under any head other than the business income, in as much as, the amended provisions of section 32(2)(iii)(a) are very clear and the position existed in the assessment year 1997-98 cannot be equally treated in the assessment year ..... in the matter of set-off of unabsorbed depreciation has been dispensed with by substituting the section 32(2) by the finance act, 2001 w.e.f. ..... in the case of a company for the assessment year beginning with the assessment year relevant to the previous year in which the said company has become a sick industrial company under sub-section (1) of section 17 of the sick industrial companies (special provisions) act, 1985 (1 of 1986) and ending with the assessment year relevant to the previous year in which the entire net worth of such company becomes equal to or exceeds the accumulated losses. ..... 1.4.1997) and to ascertain the object and purpose in amending section 32(2), the speech made by the finance minister can certainly be referred to, inasmuch as, this is in accord with the recent trend in juristic thought not only in western countries but also in india that interpretation of a statute being an exercise in the ascertainment of meaning, everything .....
Tag this Judgment!Court : Kolkata
Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)
..... : [1977]107itr168(mad) , the question before the madras high court was whether under the provisions of section 2(5)(a) of the finance act, 1966, the cash subsidy and the income derived from the sale of import entitlements would form part of the profits and gains derived from the export of any goods or merchandise ..... section 113 of the income-tax act, 1961, corresponded to section 17(1) of the indian income-tax act, 1922, but that section has now been omitted with effect from april 1, 1965, as a result of the finance act, ..... : [1982]137itr616(guj) , construed the provisions of section 2(5)(a) of the finance act, 1964, regarding the profits derived from exports and held that cash subsidy or allowance given on export of goods is directly connected with the export of goods and rebate under section 2(5) can be claimed in respect of it. ..... other view may be that there being no export and profits in respect of import entitlements, the assessee was not entitled to deduction of tax as contemplated under section 2(5)(a)(i) of the finance act, 1965. ..... as a matter of fact, most of the high courts in construing similar provisions of different finance acts, have taken the view that the sale proceeds would include not only the actual consideration but also what are received in connection with the export ..... a result of the rectification order made by the ito under section 154 of the act, rebates granted to the assessee on its export sales up to june 5, 1966, under section 2(4)(a) of the finance (no. .....
Tag this Judgment!Court : Kolkata
Reported in : [1980]46STC35(Cal)
..... were duly accepted by the commissioner of income-tax and a certificate under section 68(7) of the finance act, 1965, has been given to the partners and taxes on such disclosures ..... 1971, individually to the said narayandas phumra, as also daulal phumra and ramanlal phumra, two other partners of the petitioner, under section 14(1) of the bengal finance (sales tax) act, 1941, stating, inter alia, as follows :you are hereby directed under section 14(1) read with section 21a of the bengal finance (sales tax) act, 1941, to produce all the relevant records of your personal business since 1st january, 1964, to the date of production on ..... declarations made under the provisions of section 68 of the finance act, 1965, and the proceedings thereunder are confidential and no public servant including the commissioner of income-tax before whom the declaration might be made would be entitled to disclose the particulars contained in such declaration and the same would not be admissible as evidence against the petitioner for the purpose of assessment under the bengal finance (sales tax) act. ..... to the said three partners of the petitioner, namely, narayandas phumra, daulal phumra and ramanlal phumra, all dated 13th january, 1972, as follows :you are hereby directed under section 14(1) read with section 21a of the bengal finance (sales tax) act, 1941, to produce all the relevant records of your personal business since 1st january, 1964, to the date of production on 3rd february, 1972, at 11 a.m. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1967Cal338,[1966]18STC379(Cal)
..... ; (c) whether on the facts and in the circumstances of the case the sales in question to the shipping agents who are (within the meaning of the bengal finance (sales tax) act, 1941) registered dealers of coke are exempted from taxes under section 5(2)(a)(ii) of the bengal finance (sales tax) act; (d) whether on the facts and in the circumstances of the case the hon'ble member, board of revenue was legally justified in not allowing the stand taken by the petitioner ..... of the case the sales in question of goods to the bengal nagpur railway can be said to have taken place in west bengal within the meaning of explanation 2 of the section 3 (g) of the bengal finance (sales tax) act and as such liable to be taxed under the said ..... thatthe sales in question having been made to registered dealers are exempt from taxes on the ground that the stand is a new one; (e) whether on the facts and in the circumstances .....
Tag this Judgment!Court : Kolkata
Reported in : (1989)77CTR(Cal)112,[1989]176ITR473(Cal)
..... by the said finance act, section 40(a)(v) was inserted with effect from 1st april, ..... by the finance act of 1965, the second proviso was inserted in section 40(c)(iii) which runs as follows :'provided further that nothing in this sub-clause shall apply to any expenditure which results directly or indirectly in the provision of any benefit or amenity or perquisite to an employee whose income chargeable ..... section 40(c)(iii) was introduced by section 6 of the finance act,1963, with effect from april 1, ..... by the finance act of 1968, sub-clause (iii) of section 40(c) and explanation 2 thereof stood omitted with effect from april 1, 1969, and explanation 1 remains attached to ..... tax, west bengal iii, calcutta, the following question of law has been referred to this court for the assessment year 1972-73 under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case and on a correct interpretation of section 40(c) and section 40a(5) of the income-tax act, 1961, the tribunal was correct in holding that an expenditure incurred by the assessee-company in respect of its employee-directors did ..... in place of section 40(a)(v), a new clause was introduced, ..... the new sub-section (5) of section 40a reads asfollows :'(5) (a) where the assessee- (i) incurs any expenditure which results directly or indirectly in the payment of any salary to an employee or a former employee, or (ii) incurs any expenditure which results directly or indirectly in the provision of .....
Tag this Judgment!Court : Kolkata
Reported in : [1971]27STC373(Cal)
..... turnover relates to trade, commerce, manufacture, adventure or concern there can be no question for its attracting a tax under the bengal finance (sales tax) act simply on the ground that it is without profit and that such absence of profit-motive is not a sufficient ground for exemption ..... by the petitioner to the members of its staff of certain commodities such as coke-breeze and stores should be excluded from its turnover as dealer for the purpose of imposition of sales tax under the bengal finance (sales tax) act, 1941, merely because such sales were without any profit-motive, and thus be exempt from sales tax? 4. ..... west bengal taxation laws (amendment) act, 1969, section 2(la) was incorporated into ^he bengal finance (sales tax) act with retrospective effect. ..... we have pointed out already, a person cannot be a 'dealer' within the meaning of the bengal finance (sales tax) act unless, inter alia, he carries on the business of selling the goods in question in the state ..... held that although profit-motive might have been absent in the particular sale transactions, they nevertheless constitute sales within the meaning of the bengal finance (sales tax) act, 1941, and that having been made by a dealer, they are to be subjected to sales tax. ..... in the bengal finance (sales tax) act, 1941, in section 2(c) a 'dealer ..... under section 21(1) of the bengal finance (sales tax) act, 1941 ..... 12 we find the grounds of appeal against the order of assessment under section 11 of the bengal finance (sales tax) act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2005)92ITD148(Kol.)
..... uoi 218 itr 50, in which the constitutional validity of the amendment made to section 253(6) by the finance act, 1992 was upheld, shows that the filing fee to be paid in respect of a penalty appeal is linked ..... october, 1998 another amendment was made to the section by the finance (no.2) act, 1998 enhancing the fees for filing the ..... filing fee for appeals before tribunal - the finance act has amended section 253 enhancing the fee to be paid for ..... inserted by the finance act ..... on the quantum of income assessed only in the case of appeals filed against the assessment orders, then they could have easily used a much simpler phraseology in clauses (a) to (c) as has been done in section 246 of the act which provides for appeals to the cit(appeals).however since the expression "in the case to which the appeal relates" have been coined in clauses (a) to (c), it indicates a clear intention on the part of ..... in agreement with the view expressed in the dissenting opinion to the effect that if the expression "case" used in the sub-section is to be read as assessment order, then for the period prior to 1.6.1999, when clause (d) was inserted, no filing fee would be leviable in respect of appeals filed by the assessee against orders other than assessment orders, such as ..... " with effect from ist june, 1999, a new clause, clause (d) was introduced by the finance act, 1999 which reads as under; "(d) where the subject-matter of an appeal relates to any matter, other than those specified in clauses (a), .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]39STC184(Cal)
..... another trade circular, which is annexure b to the petition, wherein it was, inter alia, stated as follows:having taken into consideration the difficulties of the traders dealing in goods included in schedule i of the bengal finance (sales tax) act, 1941, government have been pleased to decide that, until further orders, no tax will be levied on sales of the containers and packing materials supplied as such for sale of the goods specified in schedule i appended ..... in the premises, as mentioned hereinbefore, notice under section 14(1) of the bengal finance (sales tax) act, 1941, dated 15th january, 1971, was issued, which is the subject ..... petitioner-firm to produce books of account with all the supporting documents, relevant final accounts and balance sheet for the period from 1st july, 1969, to 14th march, 1970, under section 14(1) of the bengal finance (sales tax) act, 1941.2. ..... on appeal the supreme court held that the value of the containers was assessable to sales tax under the act if there was an express or implied agreement for the sale of such containers and the mere fact that the price of the containers was not separately fixed made no difference to the ..... , was not by virtue of any trade circular, but under the provision of the bengal finance (sales tax) act, 1941. ..... bags was leviable by virtue of the provisions of the bengal finance (sales tax) act, 1941. ..... to sales tax under the bengal finance (sales tax) act, 1941. ..... within the meaning of the bengal finance (sales tax) act, 1941. .....
Tag this Judgment!Court : Kolkata
Reported in : [1971]80ITR408(Cal)
..... be, computed as hereunder : --(a)on that part of the aggregate of the sums arrived at in accordance with clause (i) of the second provisoto paragraph d of part ii of the first schedule to the finance act, 1958 (xi of1958), as has not been deemed to have been taken into account, in accordance withclause (ii) of the said proviso, for the purpose of reducing the rebate mentioned in clause (i) of thesaid proviso to nil ;........... ..... act and finance act is further evident from the provisions of section 294 of the income-tax act of 1961 corresponding to section 67b of the act ..... of any super-tax on the excess dividend : super-tax is levied only on the total income of the previous year; that levy is authorised by section 55 of the income-tax act : and the rate is authorised by part ii-d of the first schedule to the finance act of 1956. ..... the madras high court has said the provisions, of the second proviso to paragraph d of part ii of the first schedule to the finance act, 1956, which provide that the standard rebate in super-tax permissibe to a company under the first proviso to that paragraph shall be reduced if the ..... the income-tax act, the income of an assessee attracts the quality of taxability with reference to the standing provisions of the act but the payability and the quantification of the tax depend on the passing and the application of the annual finance act, thus, income is chargeable to tax independent of the passing of the finance act but until the finance act is passed no tax .....
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