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Commissioner of Income-tax Vs. Madras Motor and General Insurance Co. ...
Chennai
Jun-19-1974
Direct Taxation
Finance Act, 1963; Income Tax Act, 1961 - Sections 99(1); Finance Act, 1968 - Sections 31(3); Companies (Profits) Surtax Act, 1964 - Schedule - Rule 1
[1975]99ITR243(Mad)
to the learned counsel now in view of the deletion of the words 'received by it' by the Finance Act, 1968, with retrospective effect. While deleting the provisions of Section 99, Finance Act, 1968, by Section 31(3) omitted the … same assessee but in respect of two different assessment years. The first reference relates to the assessment year 1963-64, and the second relates to the assessment year1964-65. The assessee is a public limited company carrying on business
Tag this Judgment! AI Brief & AskAtul Drug House Ltd. Vs. Commissioner of Income-tax
Mumbai
Jan-14-1993
Direct Taxation
Income Tax Act, 1961 - Sections 2(45), 3, 5, 80A, C, J and U, 81 and 104; Finance Act, 1968 - Sch. I, Part I and Para. F
[1995]216ITR584(Bom)
so declared amounted to Rs. 3,90,000. Such excess dividend entailed an additional income-tax under the provisions of the Finance Act, 1968. The Income-tax Officer, however, failed to take note of this fact at the time of the assessment proceedings. … take note of this fact at the time of the assessment proceedings. He thereupon initiated rectification proceedings under section 154 of the Income-tax Act, 1961. The assessee resisted the proceedings. The assessee contended that the declaration of … Mrs. Sujata Manohar J.1. For the assessment year 1968-69, the applicant (hereinafter referred to as 'the assessee') declared a total dividend
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Vijaya Retreaders
Kerala
Aug-10-2001
Direct Taxation
Income-tax Act, 1961 - Sections 10A, 80-I and 256(1); Finance Act, 1968 - Sections 2(6); Central Excise Act; Finance (Amendment) Act, 1973 - Sections 2(7)
[2002]253ITR53(Ker)
whether the assessee was entitled to a concessional rate of tax provided to an industrial company by the Finance Act, 1968. 'Industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity … P.K. Balasubramanyan,J.1. This income-tax reference is at the instance of the Revenue under Section 256(1) of the Income-tax Act, 1961. The questions referred to are as follows :'1. Whether, on the facts
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Sirpur Paper Mills Ltd. Vs. Director of Inspection, Customs and Centra ...
Andhra Pradesh
Sep-22-1981
Direct TaxationExcise
Income Tax Act, 1961 - Sections 27, 81, 99(1), 280ZD and 280ZD(6)
1983(12)ELT457(AP); [1982]136ITR120(AP)
amount of tax credit to be certified under s. 280ZD of the I.T. Act. Section 39 of the Finance Act, 1968, read : '39. Special duties of excise on certain goods - (1) When goods of the description mentioned
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Smt. Indramani Devi Singhania
Allahabad
Jan-10-1991
Direct Taxation
Income Tax Act, 1961 - Sections 24(1)
(1991)95CTR(All)26; [1991]189ITR124(All)
of Section 24 of the Act. The assessment years concerned herein are 1969-70, 1970-71 and 1971-72. By the Finance Act, 1968, Clause (iii) of Sub-section (1) of Section 24 of the Act was deleted and certain words were inserted
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Commercial Laws of India Pvt. Ltd.
Chennai
Dec-08-1976
Direct Taxation
Finance Act, 1968 - Sections 2(6)
[1977]107ITR822(Mad)
total income at the rate of 55 per cent, under Paragraph F of the First Schedule to the Finance Act, 1968 ?' The assessee is the printer and publisher of a fortnightly journal known as Sales Tax Cases. The … Sethuraman, J. 1. Under section 256(1) of the Income-tax Act, 1961, at the instance of the Commissioner of Income-tax, Madras-II, Madras, the Income-tax
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. India Sea Foods
Kerala
Mar-09-1977
Direct Taxation
Income Tax Act, 1961 - Sections 271(1); Finance Act, 1968
[1977]109ITR596(Ker)
impose penalty for these two years. Section 271(1)(c)(iii) of the Income-taxAct, 1961, before it was substituted by the Finance Act, 1968, with effect from April 1, 1968, provided that the penalty imposable shall be a sum which shall not
Tag this Judgment! AI Brief & AskHansraj Aggarwal Vs. Addl. Commissioner of Income-tax
Madhya Pradesh
Apr-25-1978
Direct Taxation
Income Tax Act, 1961 - Sections 142(1), 142(2A), 143(2), 144 and 271(1); Finance Act, 1968
[1979]119ITR688(MP)
filed on April 9, 1968, i.e., after the substitution of new Clause (iii) in Section 271(1)(c), by the Finance Act, 1968, w.e.f. April 1, 1968, the IAC held that penalty had to be computed by reference to the amount
Tag this Judgment! AI Brief & AskHindustan Wire Products Ltd. Vs. Commissioner of Income Tax, Patiala
Supreme Court of India
Aug-07-1986
Direct Taxation
Income Tax Act, 1961 - Sections 33, 33(1)(A), 33(1)(B), 80B(7), 80E, 80I and 80I(1); Finance Act, 1972; Finance Act, 1968
AIR1987SC566; (1986)55CTR(SC)183; [1986]161ITR749(SC); 1986(2)SCALE160; (1986)3SCC689; [1986]3SCR478
time being approved in this behalf by the Central Government.The word 'Sixth' was substituted for 'Fifth' by the Finance Act 1968 with effect from April 1, 1969.5. With effect from April 1, 1964 the Fifth Schedule set forth a … 33 of the Income Tax Act, 1961 provides for the grant of development rebate. Prior to April 1, 1968, Section 33(1)(iii)(c)(A) of the Income Tax Act, 1961 provided:(1) In respect of a new ship acquired or new machinery
Tag this Judgment! AI Brief & AskThe Union of India (Uoi) and ors. Vs. the Elphinstone Spinning and Wea ...
Mumbai
Jan-20-1978
ExciseCustom
Central Excise Act, 1944 - Sections 3, 7, 8, 9, 9A and 9(1); Central Excise Rules, 1944 - Rules 2, 8(1), 9A, 9A(1), 9A(2), 9A(3), 9A(7), 9A(8) and 9A(9); Provisional collection of Taxes Act, 1931; ;Constitution of India - Article 226; Government of India Act, 1935 - Sections 213; Finance Act, 1968; Finance Act, 1956; Custom Act, 1962 - Sections 3, 12, 12(1), 15 and 25(1); Customs Tariff Act, 1975;Government of India Act, 1935 - Sections 213; Finance Act, 1968; Finance Act, 1956; Custom Act, 1962 - Sections 3, 12, 12(1), 15 and 25(1); Customs Tariff Act, 1975
1978(2)ELT680(Bom)
whether the said item 22B was new head of excise duty created for the first time by the Finance Act of 1968 or was a reclassification of the said Item 19. Rege J. negatived the contention of the … to the relevant provisions of the said Act and the rules as they stood at the material time. Section 2 is the definition section. Clause (d) of that section defines the term 'excisable goods' as meaning goods … 22B of the First Schedule to the Central Excise and Salt Act, 1944 the goods mentioned in Item 7 of Ex. D and Ex. E
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