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Commissioner of Income-tax Vs. Kerala Financial Corporation
Kerala
Aug-09-1971
Direct Taxation
Finance Act, 1964 - Sections 2(1); Income Tax Act, 1961 - Sections 4, 95 and 96; State Financial Corporations Act, 1951 - Sections 6 and 43
[1972]84ITR30(Ker)
Clause (i)(a) of the first proviso to Paragraph D of Part II of the First Schedule to the Finance Act, 1964. Section 43 and its first proviso are in these terms : 'For the purposes of the Indian Income-tax Act, … 'subvention' to enable the assessee to declare a dividend at the rate of 3 1/2% to its shareholders. Section 2(1)(b) of the Finance Act, 1964 (Act 5 of 1964), provided that super-tax for purposes of Section 95 of
Tag this Judgment! AI Brief & AskK. Srinivasan, A.V. Thomas and Co. Ltd., Alleppey Vs. Commissioner of ...
Kerala
Sep-19-1968
Direct Taxation
Finance Act, 1964 - Sections 2; Finance Act, 1963 - Sections 2(2); Constitution of India - Articles 270 and 271
AIR1969Ker300; [1969]73ITR275(Ker)
as required by Section 260 of the Income-tax Act, 1961. Direct Taxation - surcharge - Section 2 of Finance Act, 1964, Section 2 (2) of Finance Act, 1963 and Articles 270 and 271 of Constitution of India - assessee is individual
Tag this Judgment! AI Brief & AskCommissioner of Income-tax, Bombay City-i Vs. Oudh Sugar Mills Ltd.
Mumbai
Apr-02-1981
Direct Taxation
Finance Act, 1964 and 1965 - Sections 2(5); Industries (Development and Regulation) Act, 1951 - Sections 2(5); Income Tax Act, 196 - Sections 256(1)
(1982)27CTR(Bom)183; [1982]136ITR186(Bom); [1982]9TAXMAN203(Bom)
the assessee. Before the ITO, the assessee claimed the benefit of cl. (5)(a)(ii) of s. 2 of the Finance Act, 1964, claiming an additional rebate as provided by that clause. This was, however, rejected by the ITO as well … in the circumstance of the case, the Tribunal was right in holding that on a correct construction of section 2(5)(a)(ii) and section 2(5)(c) of the finance Act, 1964, the assessee was entitled to rebate of tax on exports
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Ahmedabad Manufacturing and Calico Printing Co. Ltd. Vs. Commissioner ...
Gujarat
May-06-1981
Direct Taxation
Income Tax Act, 1961 - Sections 256(2) and 269A; Finance Act, 1961 - Sections 2(5)(1); Finance (Amendment) Act, 1964 - Sections 5; Finance (Amendment) Act, 1965 - Sections 2(5); Income Tax (Determination of Export Profits) Rules, 1964 - Rule 2; Income Tax (Determination of Export Profits)(Amendment) Rules, 1964 - Rule 2
(1981)25CTR(Guj)263
to assessees whose total income includes any profits or gains derived from exports under s. 2(5)(a)(i) of the Finance Act, 1964, for the assessment year 1964-65 and under s. 2(5)(a)(i) of the Finance Act, 1965, for the assessment year … would uphold the finding of the revenue authorities that the assessee is not entitled to any relief under section 2(5)(i) of the Finance Act, 1963.' 7. The learned Judicial Member agreed with the conclusions reached by the learned
Tag this Judgment! AI Brief & AskCommissioner of Income-tax (Central) Vs. Express Newspapers Ltd.
Chennai
Oct-30-1979
Direct Taxation
Income Tax Act, 1961 - Sections 2(24), 24, 24(1), 36, 36(1), 38(1) and 38; Finance Act, 1964
(1980)15CTR(Mad)383; [1980]124ITR117(Mad)
of Clause (1) of the second proviso of Paragraph D, Part II, to the First Schedule to the Finance Act, 1964, was perfectly legal and justified '40. We shall take each of these questions separately and consider them. 41. … Sethuraman, J.1. This is a common reference, under Section 256(1) of the I.T. Act, 1961, of questions referred at the instance of the Commissioner of Income-tax as … Sethuraman, J.1. This is a common reference, under Section 256(1) of the I.T. Act, 1961, of questions referred at the instance of
Tag this Judgment! AI Brief & AskAddl. Commissioner of Income-tax Delhi-i Vs. Delhi Cloth and General M ...
Delhi
May-10-1982
Direct Taxation
Income Tax Act, 1961 - Sections 10, 17, 35(2), 36, 37, 37(2A), 40, 40(C) and 256(1); Finance Act, 1964
[1983]144ITR275(Delhi)
was right in law in holding that the provision of section 40(c)(iii) as it stood amended by the Finance Act, 1964, were applicable in the instant case and the sum of Rs. 64,678 disallowed by the Income-tax Officer on … S.S. Chadha, J.1. In this reference under s. 256(1) of the I. T. Act, 1961, the following questions of law have been referred to this court for
Tag this Judgment! AI Brief & AskCommissioner of Income-tax, Gujarat-i Vs. Ahmedabad Keiser-e-hind Mill ...
Gujarat
Oct-23-1980
Direct Taxation
Income Tax Act, 1961 - Sections 84 and 251; Finance Act, 1964 - Sections 2(5); Finance (Amendment) Act, 1965 - Sections 2(5)
[1981]128ITR486(Guj)
Taxation - additional ground - Sections 84 and 251 of Income Tax Act, 1961, Section 2 (5) of Finance Act, 1964 and Section 2 (5) of Finance (Amendment) Act, 1965 - whether Appellate Assistant Commissioner erred in law in
Tag this Judgment! AI Brief & AskHari Krishna Bhargav Vs. Union of India (Uoi) and anr.
Supreme Court of India
Oct-06-1965
Constitution
Indian Income-tax Act, 1961 - Sections 2; Constitution of India - Articles 14, 246, 292, 293 and 366(4); Finance Act, 1964 - Sections 3(1), 44, 280, 280-A, 280-E, 280-O, 280-X, 280-X(1) and 280-X(2); Provincial Act; Compulsory Deposit Scheme Act, 1963
AIR1966SC619; [1966]59ITR243(SC); [1966]2SCR22
Constitution of India, Sections 3 (1), 44, 280, 280-A, 280-E, 280-O, 280-X, 280-X (1) and 280-X (2) of Finance Act, 1964, Provincial Act and Compulsory Deposit Scheme Act, 1963 - petitioner a trader ordered by Income-tax Officer to pay … I agree, therefore, that the petition be dismissed with costs. 21. Petition dismissed. Constitution - valid legislation - Section 2 of Indian Income-tax Act, 1961, Articles 14, 246, 292, 293 and 366 (4) of Constitution of India, Sections
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Gwalior Rayon Silk Manufacturing (Weavi ...
Mumbai
Nov-02-1998
Direct Taxation
Income Tax Act, 1961 - Sections 28, 36(1), 37 and 80E; Finance Act, 1963 - Sections 2(5); Companies (Profits) Surtax Act, 1964
[1999]237ITR253(Bom)
and in law, the Tribunal was justified in holding that the rebate under Section 2(5)(a)(i) of the relevant Finance Act should be calculated by including in the export turnover the amounts representing the drawback of customs duty, refund … and 1967-68 ? 9. Whether the tax paid by the assessee as tax under the Companies (Profits) Surtax Act, 1964, was not a permissible deduction under Section 37 or Section 28 of the Act for the assessment years
Tag this Judgment! AI Brief & AskGwalior Rayon Silk Manufacturing (Weaving) Co. Ltd. Vs. Commissioner o ...
Madhya Pradesh
Nov-13-1987
Direct Taxation
Income Tax Act, 1961 - Sections 32 and 34; Finance Act, 1964 - Sections 2(5)
[1988]173ITR126(MP)
the second proviso to the relevant paragraph of Part II/Part I of the First Schedule to the relevant Finance Act. The Income-tax Officer disallowed salary paid to Smt. Mandelia, Smt. Buch and Smt. Perry and further disallowed deduction … Bench, has referred the following questions of law to this court for its opinion :' For assessment years 1964-65 and 1965-66 : At the instance of the assessee : '(1) Whether, on the facts and in the … G.G. Sohani, J.1. By this reference under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), … G.G. Sohani, J.1. By this reference under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), the
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