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Gwalior Rayon Silk Manufacturing (Weaving) Co. Ltd. Vs. Income-tax Off ...

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 220(1), 220(2) and 220(3); Finance Act, 1965

Reported in : AIR1969MP100; [1969]73ITR95(MP); 1969MPLJ61

raising the rate of interest on the unpaid balance from 4% to 5% by Section 55 of the Finance Act, 1965, prevails over the action taken under Sub-section (3) of that Section, in view of the opening words of

Commissioner of Income-tax Vs. English Electric Company Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80E and 80I; Income Tax (Amendment) Act, 1968; Finance Act, 1972; Finance (No. 2) Act, 1980

Reported in : (1980)17CTR(Mad)312; [1981]131ITR277(Mad)

on the question set out already.3. Section 80E was introduced in the statute by Section 14 of the Finance Act of 1966. Before the introduction of this provision, under the Finance Act of 1965, in the case of … 25,000, the rate of income-tax in the case of such companies being 45% as against the rate of 55% applicable in the case of other companies. The deduction under this section is in replacement of the rebate

The Commissioner of Income-tax, Madras Vs. P.S.S. Investments (P) Ltd. Overruled

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Indian Income-tax Act, 1922 - Sections 23A(9), 55 and 66(1); Finance Act, 1959; Finance Act, 1958 - Sections 2

Reported in : AIR1977SC424; (1976)4SCC712

that for computing the reduction in rebate under Para D of Part II to the First Schedule to Finance Act, 1959 (in Rule A. No. 169 of 1965-66) and of Finance Act, 1958 (in Rule A. No. 168 … Before dealing with the contentions advanced, it may be appropriate to refer to the relevant provisions. According to Section 55 of the Indian Income-tax Act, 1922, in addition to the income-tax charged for any year, there shall be

Hajee K. Assainar Vs. Commissioner of Income-tax, KeralA.

Court : Kerala

Subject : Direct Taxation

Reported in : [1971]81ITR423(Ker)

in section 1(2) of the Finance Act, 1964, that sections 3 - 55 thereof shall be deemed to have come into force only on the … the provisions of section 271(1)(c) of the Act as they stand after the amendments effected therein by the Finance Act, 1964. By the said amendment the word 'deliberately', which originally occurred in clause (c) of sub-section (1), was … prescient case which culminated in the order passed by the Inspection Assistant Commissioner of Income-tax on February 20, 1965. It is no doubt true that if a statute deals merely with matters of procedure and does not

Commissioner of Income-tax Vs. Ajax Products Ltd. (In Voluntary Liquid ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 55; Finance Act, 1956 - Sections 2(1)

Reported in : [1976]104ITR375(Mad)

of the second proviso to Paragraph D. Part II of the Schedule to the Finance Act, 1956 '.6. Section 55 of the Act provides that in addition to the income-tax charged for any year, there should be an … rate of four annas was given as per the provisions of Part II-D of Schedule I of the Finance Act of 1956. There were appeals and thereafter a reference to this court. This court on December 7, 1960,

Additional Commissioner of Income-tax Vs. Abhai Maligai

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80G(2) and 88(6)

Reported in : [1978]113ITR737(Mad)

statedin Section 1(2) of the Finance Act, 1964, that Sections 3 to 55 thereof shall be deemed to have come into force only on the … Section 80G(2)(b) of the Act. 7. Explanation 5 to Section 80G(2) of the Act was inserted by the Finance Act, 1976, with effect from 1st April, 1976, probably with the object of getting over the effect of decisions … present case which culminated in the order passed by the Inspecting Assistant Commissioner of Income-tax on February 20, 1965. It is no doubt true that if a statute deals merely with matters of procedure and does not

Commissioner of Income-tax Vs. Radha Nagar Cold Storage (P.) Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Finance Act, 1968 - Section 2(6); ;Finance Act, 1969 - Section 2(6)

Reported in : (1980)18CTR(Cal)166,[1980]126ITR66(Cal)

the processing of goods and was accordingly an industrial company within the meaning of Section 2(6)(d) of the Finance Act, 1968, or under Section 2(6)(c) of the Finance Act, 1969 ?'2. The assessee-company has been engaged in the … assessee-company as an industrial company engaged in the processing of goods and charge income-tax at the rate of 55%.4. Being aggrieved by the orders of the AAC, the revenue preferred appeals before the Tribunal. The Tribunal was

M.P. State Co-operative Dairy Federation and ors. Vs. Madan Lal Choura ...

Court : Madhya Pradesh

Subject : Constitution

Reported in : AIR2007MP214; [2007(4)JCR580(MP)]; 2007(2)MPLJ594

the ministry or department was the ex-officio Vice President of the CSIR and the Minister in- charge of Finance and Industry was also member of the CSIR. The Governing Body of the CSIR consisted of the Director … Sahakari Chini Mills Ltd. (for short 'the Mill'), a Co-operative Society registered under the Uttar Pradesh Co-operative Societies Act, 1965, was a 'State' within the meaning of Article 12 of the Constitution of India. The facts were that … service. The Registrar of Co-operative Societies in exercise of his powers under Section 55(1) of Madhya Pradesh Co-operative Societies Act, 1960 (for short 'the Act')

S.L. Suri Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2000)68TTJ(Delhi)846

case of N.A. Modi (supra).(iv) There has been amendment in the law in section 55(2) introduced by the Finance Act, 1994 with effect from I-4-1995, and the receipt obtained on transfer of tenancy rights would be taxable as

CochIn Company Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33(1) and 33(1A); Finance Act, 1966 - Sections 2(5) and 2(7)

Reported in : [1978]114ITR822(Ker)

the export of any goods or merchandise out of India within the meaning of Section 2(5)(a)(i) of the Finance Act, 1966 (iii) Whether the Tribunal was right in holding that the assessee is not an 'industrial company' as … by the Central Board of Revenue (annexure 'B') and the clarificatory Circular F. No. 10/49-65-IT(AI) dated October 14, 1965, issued by the Central Board of Direct Taxes (annexure ' C') (ii) Whether the Tribunal was right in … therefore, the tax had to be levied only at the rate of 55 per cent. as provided in item I(A)(2) of Paragraph F of Schedule