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C.K. Babu Naidu and C.K. Sundara Raja Naidu Vs. Wealth-tax Officer and ...

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1965 - Sections 68; Wealth Tax Act, 1957 - Sections 2, 3 and 17

Reported in : [1971]82ITR410(Ker)

facts and raise a common question of law. They are, therefore, disposed of by this single judgment.2. The finance Act, 1965, which was published in the Gazette of India on 11th May, 1965, provided a scheme in Section 68 … the decision of the Supreme Court in Kesoram Industries and Cotton Mills Ltd. v. Commissioner of Wealth-tax, [1966] 59 I.T.R. 767 ; [1966] 2S.C.R.688 (S.C.) Counsel for the petitioners then contends that what the petitioners paid under

Ahmed Ibrahim Sahigra Dhoraji Vs. Commissioner of Wealth Tax, Gujarat

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 17, 16(3), 27 and 29(1); Finance Act, 1965 - Sections 68, 68(1), 68(2), 68(3), 68(4), 68(5), 68(6) and 68(7); Income Tax Act, 1922 - Sections 3; Income Tax Act, 1961 - Sections 4; Excess Profits Tax Act, 1940; Business Profits Tax Act, 1947; Companies (Profits) Surtax Act, 1964; Finance Act, 1951; Finance Act, 1953

Reported in : AIR1981SC1562; (1981)21CTR(SC)356; [1981]129ITR314(SC); 1981(1)SCALE694; (1981)3SCC77; [1981]3SCR402

respect of income-tax payable on the concealed income disclosed by the assessee pursuant to Section 68 of the Finance Act, 1965 is deductible under Section 2(m) of the Wealth-tax Act, 1957, in computing the net wealth of the assessee

Indian Steel and Wire Products Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Subject : Direct Taxation

Acts : Finance Act, 1965; ;Income Tax Act, 1961 - Section 80E

Reported in : [1977]108ITR802(Cal)

within item 1 of the list of articles specified in Part III of the First Schedule under the Finance Act, 1965, and, therefore, it was entitled to the extra rebate for the assessment year 1965-66. For the assessment years … Policy of the Ministry of Foreign Trade, Government of India. In 1970-71, 59 industries were listed in Appendix I in the Handbook as prority industries, … Dipak Kumar Sen, J.1. This reference under Section 256(1) of the Income-tax Act, 1961, initiated at the instance of the assessee in respect of the assessment

Asia Bi (M.S. Salamath Transports) and anr. Vs. Ravi Roadways and ors.

Court : Chennai

Subject : Motor Vehicles

Reported in : (1967)2MLJ109

South Wales (1954) 1 W.L.R. 1410, See also Pacific Motor Auctions Pty. Ltd. v. Motor Credits (Hire and Finance) Ltd. (1965) 2 W.L.R. 881..18. The argument may be an interesting one, but, in our considered view, it … to note, that Sabulal and Messrs. Ravi Roadways made a joint application for recognition of the transfer under Section 59(1) of the Act, read with Rule 196 of the Motor Vehicles Rules. The matter was heard by the

Export Enterprises Pvt. Ltd. Vs. Income-tax Officer, 'B' Ward and Ors. ...

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 147 and 154

Reported in : (1983)36CTR(Cal)215,[1983]142ITR641(Cal)

of which qualified for the special rebate under Para. F of Part I of Schedule I to the Finance Act, 1965, for the assessment year 1966-67. In granting the special rebate, the ITO computed the profits and gains attributable … of estate duty, expressed in an appeal preferred by the accountable person is 'information' within the meaning of Section 59 of the E.D. Act, 1953, as amended by the E.D. (Amend.) Act of 1958, on the basis 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 … The Notes on Clauses accompanying the Finance Bill which introduced this provision explained the object as follows (See 59 ITR (St.) . 90:'Clause 15(c) seeks to introduce a new Section 80E in the Income-tax Act. The effect

Madan Mohan Lall Shriram (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1985)12ITD21(Delhi)

of such dividends.Note : This topic was originally dealt with by Section 85A which was inserted by the Finance Act, 1965, with effect from 1-4-1965. Section 80M was inserted in place of Section 85A which was deleted, by the … the basis of deduction under Section 80M(l), shall be computed in accordance with the relevant Sections 56 to 59. Sub-section (2) ibid. which is to avoid deduction in respect of the same income being allowed 100 per

India Jute Co. Ltd. Vs. Assistant Collector of Central Excise and ors.

Court : Kolkata

Subject : ExciseLimitation

Acts : Central Excises Act, 1944 - Section 11B; ;Limitation Act; ;Central Excise Rules - Rules 9(1), 9(2), 56A, 56A(2), 56A(3), 96V, 96W, 173, 173G and 173K; ;Central Excise (Ninth Amendment) Rules, 1973;

Reported in : 1988(34)ELT452(Cal)

Hence blended yarn manufactured by the petitioner could not come within the description of Item 18A. By the Finance Act of 1972 a new item being Item 18E has been introduced in the first Schedule for the first … Padma Khastgir, J.1. The petitioner India Jute Company since 9th of November, 1965 carried on and still carries on business inter alia of manufacturing blended yarn containing 60% and above cotton … amended and the schedule is modified.8. The description of the products under Section 18 and ISA of the First Schedule at all material times were … in respect of which the petitioner was entitled to a -credit of 59,221.72 in the same R.G. 23 accounts. These facts have been duly checked

S.C.N. Chowdhury Vs. Commissioner of Income-tax

Court : Kolkata

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Section 17; ;Finance Act, 1965 - Section 68

Reported in : [1982]136ITR542(Cal)

assessee had made a disclosure of Rs, 2,28,000 under the Voluntary Disclosure Scheme under Section 68 of the Finance Act, 1965, and paid tax of Rs. 1,69,800 on 25th March, 1965. The said ITO was also informed that the

Volkart Brothers and ors. Vs. Income-tax Officer, Companies Circle Iv( ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 17, 17(1), 17(4) and 35; Income Tax Act, 1961 - Sections. 113 and 154

Reported in : [1967]65ITR179(Bom)

applied to their individual assessments and the tax as levied was duly paid by them. 5. By the Finance Act of 1956 for the first time a provision was made for levying a tax on the registered firm … India challenging the orders of rectification under section 154 of the Indian Income-tax Act made on February 8, 1965, by the respondent of the assessments of the petitioner No. 1 firm for the assessment years 1958-59, 1960-61,