Court : Gujarat
..... it is further submitted that the finding recorded by the assessing officer that the activities of the assessee cannot be held as educational as defined by the hon'ble supreme court in the case of sole trustee, lok shikshana trust (supra) and the assessee is not entitled to claim the benefit of exemption under section 10(23c)(iiad) of the act since the same was meant for any university or other educational institution existing solely for educational purposes and not for the purposes of profit and the assessee did not quality for ..... the same is grossly irrelevant, in as much as the .....
Tag this Judgment!Court : Gujarat
..... amendments to section 80-ib(9) made through finance bill 2008 and finance bill 2009 along with the statements laid on the floor of the parliament by the hon'ble finance minister while moving the motion for consideration of finance bill 2008 on this subject matter are reproduced below :- notes on clauses to finance bill 2008 :- "clause 15 seeks to amend section 80-ib of the income-tax act, which relates to deduction in respect of profits and gains from certain industrial undertakings other than infrastructure ..... . director, central bureau of investigation and another (2014) 8 scc 682 after considering catena of decisions on article 14 has held in paragraphs 38 to 48 as under :- 38 ..... into consideration matters of common knowledge, matters of common report, the history of the times and may assume every state of facts which can be conceived existing at the time of legislation; and (f) that while good faith and knowledge of the existing conditions on the part of a legislature are to be presumed, if there is nothing on the face of the law or the surrounding circumstances brought to the notice of the court on which the classification may reasonably be regarded as based, the presumption of constitutionality cannot be carried to the extent of always holding that there must be .....
Tag this Judgment!Court : Gujarat
..... amendments to section 80-ib(9) made through finance bill 2008 and finance bill 2009 along with the statements laid on the floor of the parliament by the hon'ble finance minister while moving the motion for consideration of finance bill 2008 on this subject matter are reproduced below :- notes on clauses to finance bill 2008 :- "clause 15 seeks to amend section 80-ib of the income-tax act, which relates to deduction in respect of profits and gains from certain industrial undertakings other than infrastructure ..... . director, central bureau of investigation and another (2014) 8 scc 682 after considering catena of decisions on article 14 has held in paragraphs 38 to 48 as under :- 38 ..... into consideration matters of common knowledge, matters of common report, the history of the times and may assume every state of facts which can be conceived existing at the time of legislation; and (f) that while good faith and knowledge of the existing conditions on the part of a legislature are to be presumed, if there is nothing on the face of the law or the surrounding circumstances brought to the notice of the court on which the classification may reasonably be regarded as based, the presumption of constitutionality cannot be carried to the extent of always holding that there must be .....
Tag this Judgment!Court : Gujarat
..... chaudhari submitted that if clause (m) is to be given purposeful meaning so as to read that a child born to a couple constituted by second marriage, could be considered and counted with other children of the person born out of the first marriage prior to amendment act, otherwise, the intention behind the explanation provided in clause (m) will get frustrated and such person or couple constituted on account of second marriage shall be deprived of his or their rights to live life with dignity, status and enjoyment as envisaged under article ..... deserve acceptance for two main reasons; one is that as against well being of the society and public interest behind insertion of clause (m) in section 30 of the act, personal enjoyment of rights has to give way and second is that the right to be a member or to continue to be a member of the panchayat is controlled by the statutory provisions of the act and so long as statutory provisions made for such purpose are not held to be contrary to the constitutional provision, they remain to be followed for the purposes for which they are enacted. 9. .....
Tag this Judgment!Court : Gujarat
Reported in : (1984)1GLR210
..... it could not have been contemplated or predicated at the stage when the budget estimates were prepared whether the report would favour the enhanced rate and, if so, whether the general board would act on the same and whether the government would sanction the proposal. ..... it appears that meanwhile, for the purpose of making assessment under the wealth-tax act, 1957, the wealth-tax officer had referred the question of valuation of the property in question to the valuation officer under section 16a of the said act. ..... it may also take the form of subjecting the rate to be fixed by the local body to the approval of government which acts as a watch dog on the actions of the local body in this matter on behalf of the legislature. ..... the budget so sanctioned may be varied or altered from time to time, as circumstances may render desirable, at a special general meeting called for the purpose:provided that the executive committee or any other committee appointed under the act may, within the budget so sanctioned, sanction re-appropriations not exceeding rs. ..... the respondent-municipality passed a resolution on march 31 1979 under section 101 of the gujarat municipalities act, 1963 (hereinafter referred to as 'the act') declaring its intention to revise the rates of octroi duty in respect of items therein mentioned. .....
Tag this Judgment!Court : Gujarat
Reported in : 1992(38)ECC268
..... banaras hindu university reported in : [1988]1scr941 , once the judgment is pronounced in court immediately after hearing or after reserving the same to be delivered later is ordinarily considered as the final act of the court with reference to the case. ..... the facts of this case are quite different from the facts of the case of shree agency and, therefore, this decision does not support the contention raised on behalf of the respondents.for the same reasons, we are of the opinion that the decision of the supreme court in the case of shree agency (supra) does not help the respondents.8. ..... the subsequent order dismissing the writ petition was not available to be made once it is held that the writ petition stood disposed of by the judgment of the division bench on 28.7.1986.in view of the aforesaid position of law laid down by the supreme court, we do not think that the rehearing of the matter is called for. ..... union of india, reported in [1991] 36 ecc 36 (guj) : xxxi (2) glr, 1092, division bench of this court held that the supplier of crgo sheets for whom different manufacturers manufactured laminations cannot be said to be manufacturers of laminations. ..... a judgment pronounced in open court should be acted upon unless there be some exceptional feature and if there be any such, the same should appear from the record of the case. ..... 68 of first schedule to the central excises and salt act, 1944, at the relevant time. .....
Tag this Judgment!Court : Gujarat
..... going through the provisions of section 158bfa of the act, it appears that the penalty, which is envisaged and which can be imposed, though, is different from the penalty under section 271(1)(c) of the act, under sub-section (2) of section 158bfa of the act, the requirements of section 271(1)(c) are not to be looked into ..... parikh, learned advocate for the appellant-revenue in both the appeals, is that the tribunal's finding that penalty under section 271(1)(c) and section 158bfa(2) of the act are akin to each other is bad, as the assessee-respondent, herein, failed to pay tax in its entirety on the undisclosed income, which was disclosed during the search and seizure proceedings. ..... soparkar rightly submitted that the tribunal was justified in allowing the appeal of the assessee, since, even if the provisions of section 158bfa of the act are seen in the light of the decision of the "cit v. ..... at the time of admission, this court framed following question of law for consideration in both appeals; "whether the itat was right in law and on facts in deleting the penalty of rs.12,83,290/imposed u/s.158bfa(2) of the it act, 1961 more particularly when the assessee has failed to pay the tax in its entirety on the undisclosed income?" 4 ..... however, in absence of any requirement to prove concealment or furnishing of inaccurate particulars found in section 271 [1](c) of the act cannot form the sole basis to delete penalty imposed by the assessing officer and confirmed by commissioner [appeals]. 14. .....
Tag this Judgment!Court : Gujarat
..... 26.5.81 and 2.6.81 which were effectively in force in this accounting year are enclosed herewith along with english translation (appendix 1).the system of selecting the area is a universal system hence; we also select the area with same criteria, depending upon the crop. ..... ) scc 742 to contend that for the purposes of section 2(1)(i) and the schedule of the act, the expression "agricultural produce" is an inclusive definition which could even include processed items from foodgrains. ..... 1512/2006 on 25.7.2007, this court has framed the following substantial question of law: "whether on the facts and circumstances of the case the appellate tribunal was right in law and facts in holding that the activity of testing, gradation, drying, fumigation and coating of seeds would be an activity of manufacturing and production of seeds and thereby, entitled to deduction us/ 80ia of the income tax act, 1961 ? ..... (supra), the word "manufacture" is defined by the hon'ble supreme court at page 327, which reads as under: 'the word "manufacture" has not been defined in the act. ..... thus processed foodgrains on becoming seeds, as alleged by the respondents would all the same remain foodgrains requiring the respondents to take licence under the act. .....
Tag this Judgment!Court : Gujarat
..... act passed by the cit and in reaching the conclusion that the assessment order passed by the assessing officer in respect of the block period was not erroneous and that the order of the assessing officer merged with the order of the cit(a) ignoring the explanation (c) to section 263(1) of the act? b. ..... mauna bhatt, learned standing counsel for the revenue submitted that the tribunal has committed an error in quashing the order u/s 263 of the act passed by the cit and in reaching the conclusion that the assessment order passed by the a.o by accepting the assessee's method of accounting was neither erroneous nor prejudicial to the interests of revenue. 3.1 mr. ..... considering the aforesaid observations of the tribunal as well as the decisions relied upon by learned advocate for the assessee, we are of the opinion that the tribunal has committed an error in passing the impugned order so far as considering the membership fees as income when the assessee had not resumed giving the services of the water park to its members. ..... the tribunal has rightly considered that the method of accounting should be such from which the correct profit of each year can be deducted and that as per the method adopted by the revenue, the profit in the year in which the card is issued would be more resulting in loss/less profit in the year in which the services will be rendered by the assessee. ..... 113 of 2004, dated 18-11-2014]. .....
Tag this Judgment!Court : Gujarat
..... -section (1) shall be an amount arrived at after deducting an amount equal to the depreciation computed in accordance with the provisions of sub-section (1) of section 32 from the amounts of profits computed in accordance with the requirements of parts ii and iii of the schedule vi to the companies act, 1956 (1 of 1956), as increased by the aggregate of - (i) the amount of depreciation; (ii) the amount of income-tax paid or payable, and provision therefor; (iii) the amount of surtax paid or payable under the companies (profits) surtax act, 1964 (7 of 1964); (iv) the amounts carried to any reserves, by whatever name called ..... - the provisions of clause (ii) of the proviso shall apply only where - (i) all the properties of the firm relating to the business or profession immediately before the succession become the properties of the company; (ii) all the liabilities of the firm relating to the business or profession immediately before the succession become the liabilities of the company; and (iii) all the shareholders of the company were partners of the firm immediately before the succession. ..... calcutta knitwears [2014] 362 itr 673/43 taxmann.com 446/223 taxman 115 (mag.). 5. mr. s.n. .....
Tag this Judgment!