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M/S. Prakash Trading Co. Vs. Commissioner of Income-tax, Gujarat

Court : Supreme Court of India

Subject : Direct TaxationCommercial

Acts : Finance Act, 1966 - Sections 2(5); Finance Act, 1967 - Sections 2(4) and 256; Industries (Development and Regulation) Act, 1951

Reported in : 1996IIAD(SC)341; AIR1996SC3387; [1996]220ITR1(SC); JT1996(2)SC465; 1996(2)SCALE337; (1996)7SCC685; [1996]2SCR849

cakes exported or sold to exporters by it under Section 2(4)(ii) and (iii) and Section 2(4)(c) of the Finance Act, 1967 read with Item No. 28 of the First Schedule to the Industries (Development and Regulation) Act, 1951 for … including synthetic fuels, lubricating oils and the like. (3) Fuel gases -(coal gas, natural gas and the like). 5. Now, Clause (c) adheres to the said pattern.

Metal Rolling Works Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(3) and 28; Finance Act, 1966 - Sections 2(5); Finance Act, 1967 - Sections 2(4)

Reported in : (1982)31CTR(Bom)116; [1983]142ITR170(Bom)

Finance Act, 1966, and Rs. 1,71,982 for the assessment year 1967-68, under Section 2(4)(a)(i) or (ii) of the Finance Act, 1967 ' 2. The facts giving rise to the reference are as follows i The assessee is a private … some of the cases which were shown to us. Mr. Mehta first relied upon a decision in CIT v. T. Kuppuswamy Pillai & Co. : [1977]106ITR954(Mad) . In that case by virtue of the National Defence Remittance

Commissioner of Income-tax, Gujarat-iii Vs. Prakash Trading Co.

Court : Gujarat

Subject : Direct Taxation

Acts : Finance Act, 1966 - Sections 2(5); Finance (Amendment) Act, 1967 - Sections 2(4); Industries (Development and Regulation) Act, 1951; Income Tax Act, 1961 - Sections 261

Reported in : [1980]124ITR334(Guj)

cakes exported or sold to exporters by it under section 2(4)(a)(ii) and (iii) and section 2(4)(c) of the Finance Act, 1967, read with item No. 28 of the First Schedule to the Industries (Development and Regulation) Act, 1951, for … doubt, with reference to the articles manufactured by such industries. It is no doubt true that item No. 5 or for that matter item No. 11 of clause (c) of s. 2(5) excludes newsprint and cigarettes from

Commissioner of Income Tax Vs. Satish Traders

Court : Madhya Pradesh

Subject : Direct Taxation

Reported in : [2001]247ITR119(MP)

Bench, in the case of Gedore Tools (India) Pvt. Ltd. case. After filing of the return, by the Finance Act, 1990, clause (iii) was inserted in section 28 of the Income tax Act, 1961, with retrospective effect from … the order of the Special Bench of the Tribunal in the case of Gedore Tools (India) Pvt. Ltd. v. IAC (supra). It cannot, therefore, be said that there was a lack of bona fides in claiming the

income-tax Appellate Tribunal Vs. B. Hill and Co. (P.) Ltd.

Court : Allahabad

Subject : Direct Taxation

Acts : Finance Act, 1965 - Sections 2(5); Finance Act, 1966 - Sections 2(5); Finance Act, 1967 - Sections 2(4); Finance Act, 1964; Finance Act, 1968; Finance Act, 1969; Income Tax Act, 1961 - Sections 2(18), 31, 37, 108 and 256

Reported in : (1982)29CTR(All)301; [1983]142ITR185(All)

super-tax on the amount of such profits and gains included in the total income.' Section 2(4)(a)(i) of the Finance Act, 1967 : '2(4)(a). In respect of any assessment for the assessment year commencing on the first day of April, … of India. 4. We shall first take up the question of tax concession and higher rebate on super-tax. 5. It appears that in order to earn more foreign exchange the Govt. of India introduced incentives for encouraging

Commissioner of Income Tax Vs. Amod Stamping

Court : Gujarat

Subject : Direct Taxation

Acts : Finance Act, 1967 - Sections 80HH, 80HH(9), 80HHA, 80I, 80I(1), 80I(5), 80J and 80J(1); Taxation Laws (Amendment) Act, 1975

Reported in : (2005)194CTR(Guj)158; [2005]274ITR176(Guj)

profits and gains of an amount equal to twenty per cent thereof.'Section 80J was inserted by Finance (No.2) Act, 1967 w.e.f. 1.4.1968 and the bracketed portion in Section 80J referring to Section 80HH was inserted/substituted by the Taxation

Ajantha Industries and ors. Vs. Central Board of Direct Taxes, New Del ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Finance Act, 1967 - Sections 27, 127 and 127(1); Income-tax Act, 1961 - Sections 127; Constitution of India - Articles 136 and 226; Income-tax Act, 1922 - Sections 5(7A)

Reported in : AIR1976SC437; [1976]102ITR281(SC); (1976)1SCC1001; [1976]2SCR884; 1976(8)LC157(SC)

order or direction in respect of any year.The section was amended by Section 27 of Finance (No. 2) Act, 1967, and Section 127 since then stands as under:(1) The Commissioner may, after giving the assessee a reasonable opportunity … violative of the principles of natural justice for which the order should be held to be invalid.5. Section 5(7A) was the corresponding section in the Income-tax Act, 1922 (briefly the Old Act). The section may be set

State of Kerala Vs. Alex George and anr. Etc.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Kerala Finance Act, 1987 - Sections 1(2) and 3(2); Kerala Plantations Tax Act, 1960 - Sections 2(9), 3, 3(1), 3(3), 4(2), 5, 6A, 8, 9, 9A, 13, 14 and 27; State Finance Act, 1987; Kerala Plantations (Additional Tax) Rules, 1960 - Rule 16; Kerala Plantations (Additional Tax) Amendment Act, 1967; Kerala General Sales Tax Act, 1963; Kerala Motor Vehicles Taxation Act, 1976; Central Excise Act, 1944

Reported in : (2004)192CTR(SC)581; [2004]271ITR290(SC); JT2004(10)SC104; 2005(1)KLT164(SC); 2004(9)SCALE545; (2005)1SCC299

dated 28.8.1998 raises the question as to the true scope and operation of Section 1(2) of the Kerala Finance Act, 18 of 1987 substituting Schedule-I to the Kerala Plantations Tax Act 1960 w.e.f. 1.7.1987.2. Since the aforestated question … Section 5/3(3) of the Kerala Plantation Tax Act, 1960 as amended by the Kerala Plantations (Additional Tax) Amendment Act 1967]To...........Whereas under the Kerala Plantation Tax Act, 1960 as amended by the Kerala Plantations (Additional Tax) Amendment Act, 1967

J.B. Advani and Co. P. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Finance Act, 1966 - Sections 2(5); Finance (Amendment) Act, 1967

Reported in : [1992]193ITR781(Bom)

as to costs. Direct Taxation - manufacturing activities - Section 2 (5) of Finance Act, 1966, Finance (Amendment) Act, 1967 and Section 154 of Income Tax Act, 1961 - assessee-company engaged in export of tea - assessee claimed … manufacturing activity so as to bring it within the purview of section 2 (5) (a) (ii) of the Finance Act, 1966. Accordingly, the Tribunal confirmed the order of the Additional Commissioner. 5. Placing reliance on the Calcutta High

Commissioner of Income-tax, Delhi-i Vs. Bharat Ram Charat Ram P. Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17(1), 35(1), 40, 40A(5), 80B, 80E, 80-I, 80M, 80AA, 85A and 256(1)

Reported in : (1985)47CTR(Del)5; [1986]157ITR199(Delhi)

research and not otherwise - question referred answered in affirmative. (iii) Concessional rate - Section 2 (7) of Finance Act, 1967 - whether Tribunal right in holding that assessed-company was 'industrial company' within meaning of Section 2 (7) and … referred to us, questions Nos. 1 to 4 are at the instance of the Department and questions Nos. 5 to 7 are at the instance of the assessed. The questions are as follows : '1. Whether, on