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Smt. Krishna Gupta Vs. Commissioner of Wealth-tax

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Finance Act, 1968; Wealth Tax Act, 1957 - Sections 18 and 18(1); Income Tax Act, 1961 - Sections 271

Reported in : [1992]198ITR171(P& H)

Acts in respect of the penalty provisions. Under these provisions, as they stood before their amendment by the Finance Act, 1968, the scale of penalty imposable for concealment or understatement of wealth was a minimum amount of 20 per … against the assessee for concealment of the item of wealth aforesaid. The Inspecting Assistant Commissioner imposed penalty under Section 18(1)(c) of the Act to the tune of Rs. 50,000, vide order dated August 29, 1973. Some other items

Assistant Commissioner of Income Vs. Choice Trading Corporation Ltd.

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Land Acquisition

Reported in : (2004)90ITD1(Coch.)

a hotel would not constitute "manufacture or processing of goods" within the meaning of Section 2(6)(d) of the Finance Act, 1968. A company which carries on such activity will not fall within the definition of an "industrial company" under … held to be business expenditure, assessee's counsel submitted : (vi) CIT v. Bharat Commerce & Industries Ltd. (1990) 184 ITR 90 (Del).Assessee's counsel submitted that in the instant case, the assessee-company has merely lent interest-free monies. Hence,

State of Kerala and ors. Vs. Maharashtra Distilleries Ltd. and ors.

Court : Supreme Court of India

Subject : Excise

Acts : Kerala Abkari Act - Sections 6, 7, 11, 12, 14, 17, 18, 18A, 21 and 29; Kerala Abkari Rules; Kerala Sales Tax Act; Kerala General Sales Tax Act, 1963 - Sections 2, 5, 5(1), 5(2C) and 35; Kerala Finance Act, 2001 - Sections 3A; Kerala Distillery and Warehouse Rules, 1968 - Rules 16(1), 47, 50 and 52; Foreign Liquor Storage in Bond Rules, 1961 - Rules 3, 3(1), 11 and 11(1); Foreign Liquor Rules, 1953 - Rules 3, 13(9) and 14; Cochin Abkari Act - Sections 10, 14, 24, 29 and 29(2); Kerala Abkari Shops (Disposal in Auction) Rules, 1974 - Rule 3(1A); Central Sales Tax Act, 1956; Finance Act, 2001; Constitution of India - Articles 301, 304, 304(1) and 311; Sea Customs Act, 1878 - Sections 20; Central Excise Act, 1944 - Sections 3

Reported in : AIR2005SC2594; JT2005(5)SC427; (2005)11SCC1; [2005]141STC358(SC)

on 1.4.2001 the State of Kerala amended Section 5(2C) of the Kerala General Sales Tax Act; by the Finance Act of 2001, by adding an explanation which was brought into effect retrospectively from July 1, 1987 which reads … for the manufacture of potable liquor meant for human consumption.Explanation :- For the purpose of this section and Section 18, the expression 'duty of excise', with reference to liquor or intoxicating drugs, include countervailing duty on such goods … 1999 in OP Nos. 23008-23903/98, 818, 2255, 2264, 12893, 3283; 7437 and 19686/99 whereby the High Court allowed the writ petitions filed by the respondents/distillers

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)

(A)( 1 )(ii) of the proviso to Paragraph F of Part I of the First Schedule to the Finance Act, 1968 (2) Whether the Income-tax Appellate Tribunal was light in holding that the assessee is not a company as … the tax concessions granted by the Finance Acts of 1965, 1966 and 1967. The relevant provisions are : Section 2(5)(a)(i) of the Finance Act of 1965 and 1966 : '5. (a) In respect of any assessment for … on the sale of wool and wool tops and dyes was Rs. 18,84,498, whereas the loss in the export of carpets was Rs. 15,01,586.7. The

Addl. Commissioner of Income-tax, Mysore Vs. C.V. Bagalkoti and Sons

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 271(1) and 297(2); Income Tax Act, 1922 - Sections 28(1)

Reported in : ILR1979KAR127; [1978]115ITR131(KAR); [1978]115ITR131(Karn); 1979(1)KarLJ34

force at the commencement of the assessment year and the provisions of the Act as amended by the Finance Act, 1968, were inapplicable to the case. Accordingly, it reduced the quantum of penalty payable by the assessee. At the … and levied a penalty of Rs. 6,000 by his order dated November 18, 1971. The assessee took up the matter in appeal before the Income-tax … particulars of certain income-tax derived by it during the previous year in question and, therefore, initiated proceedings under section 271(1)(c) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'). Since he was of the opinion

Commissioner of Gift-tax Vs. C. Muthukumaraswamy Mudaliar

Court : Chennai

Subject : Direct Taxation

Acts : Gift Tax Act, 1958 - Sections 15(2), 15(4), 17 and 17(1); Gift Tax (Amendment) Act, 1962

Reported in : [1975]98ITR540(Mad)

return furnished prior to April 1, 1968, the provisions of Section 271(1), prior to its amendment by the Finance Act, 1968, will be applicable.'19. Circular No. 22 dated July 17, 1969, issued by the Central Board of Direct Taxes … .' 15. In Lord Howard de Walden v. Commissioners of Inland Revenue, the court considered the scope of Section 18 of the Finance Act of 1936. It was argued for the assessee in that case that the said

V. Hallay Mathew Vs. State of Kerala and anr.

Court : Kerala

Subject : Direct Taxation

Acts : Constitution of India - Article 20(1); Income Tax Act, 1922 - Sections 18(3D), 18(6), 51, 53 and 66(1); Income Tax Act, 1961 - Sections 194, 200, 276, 267B and 279; Income Tax Rules - Rule 30; Finance Act, 1968

Reported in : [1971]79ITR72(Ker)

1, 1968. But, on the same day, Section 276B came to be incorporated in the Act under the Finance Act, 1968. Therefore, it is clear that the non-compliance of Sections 194 and 200 occurring in Chapter XVIIB is an … on April 1, 1962, it is better to quote the relevant provisions of the old Income-tax Act, 1922, Section 18(3D) of that Act read as follows :' The principal officer of an Indian company or a company which

Asstt. Cit Vs. Choice Trading Corporation Ltd

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Land Acquisition

Reported in : (2002)76TTJ(Coch.)892

a hotel would not constitute "manufacture or processing of goods" within the meaning of section 2(6)(d) of the Finance Act, 1968. A company which carries on such activity will not fall within the definition of an "industrial company" under … cartons.14. Packing master cartons are properly stacked in the frozen storage, where the temperature is constantly maintained at 18 degree-C.15. Finally frozen cargo is loaded into the refrigerated containers for shipment.Assessee's learned counsel submitted that in all

Sh. Lekhraj Manek Chand Vs. Commissioner of Wealth-tax

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 15 and 18(1)

Reported in : [1993]203ITR336(P& H)

failed to do so. In the circumstances, failure to disclose the additional amount amounted to concealment.6. By the Finance Act, 1968, Clause (iii) of Section 18(1)(c) of the Act had been amended with effect from April 1, 1968. The

T.K. Roy, Vs. Commissioner of Wealth-tax

Court : Guwahati

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 14, 14(1), 14(2), 15, 16(5), 18, 18(1), 35B and 36(1)

1965. Thereafter, penalty was levied under Section 18(1)(a)(i) of the Act as amended by Section 24 of the Finance Act of 1969 (hereinafter called the '1969 Amendment').5. The assessee appealed to the AAC of Wealth-tax. The AAC held … the material facts of this reference first.3. The assessment years involved in this reference are from 1963-64 to 1968-69. Admittedly, the assessee was liable to pay wealth-tax for all these years. He was required under Section 14(1)