such a bank, would attract the provisions of Section 115C read with Section 115H . The applicant will, therefore, be entitled to the benefit ... provisions of Section 115C provided he fulfils the conditions specified in Section 115H in the assessment year 1997-98.
12. As regards question
Section 115H in The Income Tax Act, 1961
115H. Benefit under Chapter to be available in certain cases even after the assessee becomes resident.
- Where ... furnish to the [Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer" (w.e.f. 1.4.1988).] a declaration in writing
processed under Section 143(1)(a) . thereafter, under Section 143(3) , the assessment order was passed, accepting the claim made under Section 115H for concessional ... nature referred to in Section 115C sub clauses (ii) (iii) (iv) or (v) of Clause (f). Section 115H reads as follows:
" Section 115H - Benefit
exchange asset referred to in section 212(e) other than shares in an Indian company, then the provisions of sections 212 to 218 shall continue ... otherwise than by transfer) of such assets into money. [ Similar to Section 115H from The Income Tax Act, 1961. - Also Refer
asset."
A perusal of the section clearly shows that the concessional rate of tax provided under Sections 115H and 115E is enacted with ... concessional rate of 20 per cent under Sections 115C and 115D read with Sections 115E and 115H , provided the applicant fulfils the procedural requirements
Section 115H in The Gujarat Co-Operative Societies Act, 1961
115H. Offences and their punishment and cognizance.
(1) (a) It shall be an offence ... with the provisions of any of the clauses (a) to (g) of Section 115-F. (b) It shall be an offence if a committee fails
Section 115H in The Goa Panchayat Raj Act, 1994
115H. Disqualification for members.
- The provisions of section 10 of the Act shall, mutatis mutandis, apply
Section 115H in U.P. Zamindari Abolition and Land Reforms Rules, 1952
115H. [ [Added by Notification No. 3548/I-A-1059-1953, dated 13.06.1953.]
Nothing
consequently, he would have the tax benefit under section 115E or under section 115H of the Income Tax Act. The assessee filed return of income ... only under section 115E of the Act. Though the assessee had filed returns claiming benefit under section 115E read with section 115H
claimed benefit of concessional
rate by filing declaration in terms of Section 115H of the Income Tax
2
Act. In fact, in one case ... assets falling under Section 115C(f) of the Act
only are entitled to the continued benefit of concessional rate under
Section 115H after the assessees
