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Commissioner of Income-tax Vs. Central Bank of India Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(10), 2(24), 45, 52, 52(2), 85A, 108, 115 and 119

Reported in : (1990)92BOMLR31; [1990]185ITR6(Bom)

case may be.'14. A similar Circular No. 4-P was issued on July 21, 1966, in regard to the Finance Act, 1966. The relevant clause therein on which Mr. Dalvi relied is clause 32, which reads thus :'32. A company … in K. P. Varghese v. ITO : [1981]131ITR597(SC) . The Supreme Court was concerned with the interpretation of section 52(2). Literally interpreted, it said, the provision suggested that the Legislature had imposed a liability to tax on an

B. Rajendra Oil Mills and Refinery Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : MRTP

Reported in : (1985)(21)ELT607TriDel

be the annual Finance Acts in recent years providing for levy of special duties of excise. For example, Section 52 of the Finance Act, 1984 provides for levy of special duties of excise on the lines of similar … proceedings pending before the Government of India which were transferred to this Tribunal after coming into force the Finance Act, 1982, under Section 35P of the Central Excises and Salt Act, 1944, were under Section 36 of the … oil for which they filed a refund claim on the ground that Section 6 of the Produce Cess Act, 1966 provides that when oil is exported refund will be granted. During this period they had sold the castor

N. Rahmath and ors. Vs. Union of India and ors.

Court : Chennai

Subject : Excise

Acts : Central Excise Rules, 1944 - Rule 8; Central Excise Act, 1944 - Sections 3

Reported in : 1988(38)ELT425(Mad)

these cases are manufacturers of matches and they have challenged the constitutional validity of Section 52 of the Finance Act of 1982 and the conditions imposed in Notification No. 22/82[GSR 77(E)/82] dated 23rd February, 1982, on the ground

Asian Paints (India) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1990)34ITD268(Mum.)

at any time within a period of 18 years from the 1st April 1948, up to 31st March 1966. The Minister of Finance had announced in the Lok Sabha during its previous session that it was intended … period.In support of this argument, Shri Dastur referred us to circular No.308 dated 29-6-1981 containing explanatory notes on Finance Act, 1981.In particular, Shri Dastur relied on paragraphs 19.1 to 19.3 dealing with amendment of Eleventh Schedule (pages 898 … CIT v. Madurai Mills Co. Ltd. [1973] 89 ITR 45 at page 52. Shri Dastur argued that if there was any doubt about the language … the CIT (A) erred in rejecting the claim of the appellant Under Section 80J in respect of its Krilo Unit which commenced production from 1-4-1981.

Commissioner of Income-tax Vs. Calcutta Steel Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 154; ;Finance (No. 2) Act, 1967 - Section 2(4); ;Income Tax (Determination of Export Profits) (No. 2) Rules, 1967

Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)

, the question before the Madras High Court was whether under the provisions of Section 2(5)(a) of the Finance Act, 1966, the cash subsidy and the income derived from the sale of import entitlements would form part of the … the orders of rectification. The matter went before the Supreme Court. The Supreme Court observed as follows (pp. 52-53) :'The question for decision is whether the first respondent's firm came within the mischief of Section 17(1) of

Commissioner of Customs versus M/S Canon India Pvt. Ltd.

Court : Supreme Court of India

Subject : Right to Information

Reported in : [2024]12S.C.R.202

in the case of Mangali Impex’s case expounds the correct interpretation of s.28(11) and whether s.97 of the Finance Act, 2022, which retrospectively validates the show cause notices with effect from 01.04.2023, is manifestly arbitrary and thus, violative … Poulose Athanasius [1955] 1 SCR 520 : 1954 SCC OnLine SC 49; Tinkari Sen v. Dulal Chandra Das, 1966 SCC OnLine Cal 103; Girdhari Lal Gupta v. D. H. Mehta [1971] 3 SCR 748 : (1971) 3 … Such entrustment could be either conditional or unconditional - Object of this Section is to confer powers of search, seizure, arrest and recording of statements, … Daikin Air Conditioning India Pvt. Ltd v. Union of India, W.P. (C) 526 of 2022; S.K. Srivastava v. Union of India, 1971 SCC OnLine Del

H.F. Craig Harvey Vs. Third Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1988)25ITD1(Mad.)

by the Finance (No. 2) Act of 1977 with effect from 1-4-1978 and subsequently as 1-4-1974 by the Finance Act of 1986 with effect from 1-4-1987.We derive support for this view of ours from the Twelfth Schedule of … Harvey Ltd.3,000 shares held prior to 1-1-1964. shares 22,700 shares held prior to 1-1-1964.638 bonus shares issued in 1966 11,350 shares (bonus(out of 3,000 bonus shares received shares) issued in 1966.in 1966).6,000 shares (bonus shares) issued 7,883 … of the Supreme Court in CIT v. Dalmia Investment Co. Ltd. [1964] 52 ITR 567, Shekhawati General Traders Ltd. v. ITO [1971] 82 ITR 788, … shares amounting to Rs. 54.599.2. In the final assessment order passed under Section 143(3) read with Section 144B of the Income-tax Act, 1961 on 20-7-1981,

Commissioner of Income-tax, Bombay City-iii Vs. Aloo Investment Co. P. ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 12(4), 104 and 109

Reported in : [1980]123ITR132(Bom); [1979]1TAXMAN433(Bom)

(P.) Ltd. v. CIT [1977] 106 ITR 45, where the Supreme Court has observed (p. 55) 'By the Finance Act, 1966, which came into force with effect from April 1, 1966, the meaning of the term 'investment company' was … the circumstances of the case, the assessee-company was an investment company within the meaning of the expression in section 109(ii) of the Act ?' 2. At the outset, it is necessary to point out that clause (ii) … and int. receivable 8,964(d) Loans and advances 14,47,194(e) Cash and bank balances 52,944-----------Total 26,04,180-----------4. The ITO found that the investments in shares, loans and advances

S.P. Jaiswal Estates Pvt. Ltd. Vs. Commissioner of Income-tax (No. 1)

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 32A and 32A(2); ;Finance Act, 1982 - Section 2(7)

Reported in : [1994]209ITR298(Cal)

Central Board of Direct Taxes, explaining the meaning of industrial company under Explanation to Section 2(7)(d) of the Finance Act, 1966. It was explained by Mr. Poddar, that the expression 'industrial company' is defined each year by the relevant … food in the hotel constituted manufacture or production of any article or thing within the meaning of Section 52A of the Income-tax Act, 1961, and in that view whether the assessee was entitled to get investment allowance

Commissioner of Wealth-tax Vs. Bansidhar Poddar

Court : Kolkata

Subject : Direct Taxation

Acts : Finance Act, 1965 - Section 68; ;Wealth-tax Act, 1957 - Section 2; ;Income Tax Act

Reported in : [1978]112ITR957(Cal)

whether tax paid by an assessee on the basis of his voluntary disclosure under Section 68 of the Finance Act, 1965, is an allowable deduction in the computation of his net wealth under Section 2(m) of the Wealth-tax … additional surcharge on the amount of residual income and applying the said provision an additional surcharge of Rs. 52,828.60 was imposed. The assessee's grievance was that though its taxable income was only Rs. 51,763 a total tax