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Commissioner of Income-tax Vs. Casino (Pvt.) Ltd.
Kerala
Oct-06-1972
Direct Taxation
Finance Act, 1968 - Sections 2(6)
[1973]91ITR289(Ker)
from raw materials, constitutes ' manufacture or processing of goods ' within the meaning of section2(6)(d) of the Finance Act, 1968, and that the assessee is an ' Industrial company ' within the meaning of the definition contained in … that the assessee is an ' Industrial company ' within the meaning of the definition contained in that section '2. The assessee is a private limited company running a hotel business. In connection with the assessment of the
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 … in the same way as newly manufactured tyres. Therefore, the assessee was an industrial company as defined in Section 2(6)(d) entitled to the concessional rate of tax as applicable to an industrial company.'6. The Division Bench further held
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 … additional income-tax at the rate of 7.5 per cent. amounting to Rs. 29,250. This levy has been upheld by the Tribunal. Hence, at the instance
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Commissioner 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 … Sethuraman, J. 1. Under section 256(1) of the Income-tax Act, 1961, at the instance of the Commissioner of
Tag this Judgment! AI Brief & Askincome-tax Appellate Tribunal Vs. B. Hill and Co. (P.) Ltd.
Allahabad
Mar-05-1982
Direct Taxation
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
(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
Tag this Judgment! AI Brief & AskAdditional Commissioner of Income-tax, Delhi-i Vs. Kalsi Tyre (P.) Ltd ...
Delhi
Feb-02-1981
Direct Taxation
Finance Act, 1968 - Sections 2(6)
[1981]131ITR636(Delhi)
the assessed in the present case is engaged in the processing of goods within the meaning of the Finance Act, 1968. In this connection, we may point out that on the facts before them the AAc and the Tribunal … is entitled to the concessional rate of tax provided to an industrial company by the Finance Act of 1968. Section 2(6)(d) of the above Act defines as industrial company as follows : ''Industrial company' means a company which
Tag this Judgment! AI Brief & AskCommissioner of Income-tax, Gujarat Vs. Ahmedabad Kaiser-i-hind Mills ...
Gujarat
Mar-24-1981
Direct Taxation
Finance Act, 1968 - Sections 2; Income Tax Act, 1961 - Sections 4, 4(1), 28, 37, 40 and 104; Finance Act, 1966 - Sections 2
[1983]141ITR472(Guj)
of levy of additional tax in respect of excess dividends did not arise under the provisions of the Finance Act, 1968, for the assessment year 1968-69 ?' 2. It is not in dispute that the assessee is a company … total income of the previous year or previous years, as the case may be, of every person :...... Section 2(1) of the Finance Act, 1968 : 2. Income-tax. -(1) Subject to the provisions of subsections (2) and (3),
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Radha Nagar Cold Storage (P.) Ltd.
Kolkata
Jun-04-1980
Direct Taxation
Finance Act, 1968 - Section 2(6); ;Finance Act, 1969 - Section 2(6)
(1980)18CTR(Cal)166,[1980]126ITR66(Cal)
question further it may be necessary to refer to the definition of the relevant Finance Act, namely, the Finance Act, 1968. Section 2(6), Clause (d), defined 'industrial company' as follows :' 'Industrial company' means a company which is mainly engaged
Tag this Judgment! AI Brief & AskCommissioner of Income-tax, Bombay Vs. Tiecicon P. Ltd.
Supreme Court of India
Sep-03-1987
Direct Taxation
Finance Acts, 1969 and 1970 - Sections 2(6)(d), 2(6)(c)
[1987]168ITR744a(SC); 1988Supp(1)SCC481; 1988(Supp)SCC487
within the meaning of definitions in relevant Finance Acts, held, question of fact and hence not referable - Finance Act, 1968, Section 2(6)(d) Finance Acts, 1969 and 1970, Section 2(6)(c) -- A reference application made by the Commissioner of Income
Tag this Judgment! AI Brief & AskIndia Leather Corporation (P.) Ltd. (No. 2) Vs. Commissioner of Income ...
Chennai
Jan-30-1978
Direct Taxation
Finance Act, 1968 - Sections 2(6)
[1989]179ITR179(Mad)
amount can be said to be income of an 'industrial company' as defined in Section 2(6)(d) of the Finance Act, 1968. Section 2 (6)(d) of the said Act is in these terms :''Industrial company' means a company which is mainly engaged
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