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Taylor Instrument Co. (India) Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32 and 32(1), 34, 80B, 80B(7), 80-I and 80J, 84, 108, 139, 143(2) and (3), 144, 146, 246, 253 and 254

Reported in : (1992)105CTR(Del)5; ILR1992Delhi1037

Before examining the rival contentions, it is pertinent to note that the aforesaid proviso was inserted by the Finance Act, 1966, with effect from April 1, 1966. Prior to its insertion, plant, machinery and other items including tools … B.N. Kirpal, J.1. In respect of the assessment years 1968-69 and 1969-70, the Income-tax Appellate Tribunal, under section 256(1) of the Income-tax … Whether, on the facts and in the circumstances of the case, the assessed is entitled to depreciation under section 32(1)(ii) of the Income-tax Act, 1961, in respect of blocks and toolings of Rs. 22,750 acquired and used in

Commissioner of Wealth-tax Vs. Mrs. Daisy Paul

Court : Kerala

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 5(1)

Reported in : [1990]183ITR22(Ker)

assessee is an 'industrial company' entitled to concessional rate of tax as enjoined in Section 2(6)(d) of the Finance Act, 1968. The court was concerned with regard to the meaning to be given to the words contained in the

Kodak Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)18ITD213a(Mum.)

benefit or amenity or perquisite to the employee within the meaning of Section 40(c)(iii) (which was repealed by Finance Act, 1968 with effect from 1-4-1969). Thus, the Calcutta High Court's decision was based on finding of fact by the … (Bom.) of 1983] for assessment year 1978-79 wherein paras 11-12, it was held that terminal allowance under Section 32(1)(iii) of the Act is not an allowance for the user of the car but was an allowance given

Prem Cables Pvt. Ltd. Vs. Assistant Collector (Principal Appraiser) Cu ...

Court : Rajasthan

Subject : ExciseCustoms

Acts : Indian Tariff Act, 1936 - Sections 2, 2A, 2A(1) and 2A(2); Customs Act, 1962 - Sections 2, 12(1), 25, 25(1), 27, 27(1), 128 and 131; Finance Act, 1965 - Sections 26(1), 76(1) and 77; Constitution of India (Fifteenth Amendment) Act, 1963 - Sections 8; Sea Customs Act - Sections 23; Finance Act, 1964 - Sections 57(1); Central Excise Act, 1944; Finance Act, 1960; Indian Tariff Act, 1934; Central Excise (Conversion to Metric Units) Act, 1968; Finance Act, 1969; Evidence Act - Sections 106; Limitation Act, 1963 - Sections 17(1); Limitation Act, 1908 - Schedule - Articles 24, 62 and 96; Constitution of India - Articles 19, 32, 136, 226 and 226(1A); Contract Act - Sections 72; Orissa Sales Tax Act - Sections 4, 14 and 19; Uttar Pradesh Sales Tax Act; Code of Civil Procedure (CPC) - Sectio

Reported in : 1981(8)ELT440(Raj); 1978(11)WLN481

goods were further chargeable to regulatory duty of 10% then in force levied under Section 77 of the Finance Act, 1965. The duty @ Rs. 360 per M.T. was levied by the Central Government in exercise of the … specified. This item 33 was subsequently modified as item 27 by the Central Excise (Conversion to Metric Units) Act, 1968 but the contents thereof remained the same. Item 27 mentions the following commodities for the purpose of levying … in which the majority view is that even an application under Article 32 of the Constitution should be dismissed on the ground of delay. In

Escorts Limited and ors. Vs. Union of India and Others

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 35(2); Finance Act, 1980; Income-tax (Amendment) Act, 1946 - Sections 148 and 154; Constitution of India - Articles 14, 19(1), 32 and 300A

Reported in : AIR1993SC1325; (1992)108CTR(SC)275; [1993]199ITR43(SC); 1992(2)SCALE867; (1993)1SCC249; [1992]Supp2SCR153

of Section 32 for the same or any other previous year in respect of that asset. (Emphasis added)The Finance Act made this amendment retrospective w.e.f. 1-4-62, that is, the date of the commencement of the 1961 Act. This … the 1922 Act, so that the question earlier posed still loomed in the background of 1961 Act.7. In 1968 there was an amendment in the provisions of Section 35(2). The Sub-section was amended to read as follows:(2)

Commissioner of Wealth Tax Vs. P. Devasahayam

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 and 80J; Wealth Tax Act, 1957 - Sections 5, 5(1) and 27(3)

Reported in : (1998)144CTR(Mad)313; [1999]236ITR885(Mad)

the year 1968-69, the assessee claimed to be an 'industrial company', as the term is defined in the Finance Act, 1968. The claim to be assessed at the rate of tax applicable to an 'industrial company', namely, at 55 … 1968, and that the assessee is an 'industrial company' within the meaning of the definition contained in that section ?' (h) Their Lordships of a Division Bench of the Kerala High Court took into consideration various precedents

Smartchem Technologies Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)97TTJ(Ahd.)818

depreciation as applicable to intangible assets. (i) The appellant invited our attention to the Explanatory Memorandum to the Finance Act, 1998, for making an amendment in Section 32 thereby allowing depreciation to be claimed in case of intangible

Commissioner of Income-tax Vs. Mico Products Pvt. Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Finance Act, 1980; Constitution of India - Articles 14, 19(1)(8) and 226; Income Tax Act, 1961 - Sections 32, 32(1) and (2), 35, 35(1), (2), (2B), (B), B(2) and C(2)

Reported in : (1990)92BOMLR659; [1991]187ITR517(Bom)

35B provides for export markets developments allowance. Section 35B(2) which was introduced from April 1, 1968, by the Finance Act, 1968 (since deleted), states 'where a deduction under this section is claimed and allowed for any assessment year.... deduction … Before the Income-tax Officer, it was contended that the assessee is entitled to depreciation on these items under section 32(1) of the Income-tax Act, 1961, even though deduction under section 35(1)(iv) and section 32(2)(ia) of the Income-tax Act,

Nava Bharat Ferro Alloys Limited Vs. Andhra Pradesh State Electricity ...

Court : Andhra Pradesh

Subject : Electricity

Acts : Constitution of India - Articles 14, 226; Electricity Supply Act, 1948 - Sections 16, 16(5), 16(6), 49 and 78A; Evidence Act, 1872 - Sections 115

Reported in : AIR1985AP299

1910 (1910 Act), the Supply Act, constitutional and public law limitations including the observance of principles of public finance in formulating or revising either uniform or differential tariffs; (5) The Board cannot legally act in the style … in September, 1979; 21 paise in November 1979; 25 paise in 1980, 32 paise in 1981 and 45 paise in 1984. The H.T. category consumers … fixed at a higher level than the rates at which power is made available for the more needy sections of consumers, no malice can be attributed either to the Government or to the Board. We accordingly reject

Commissioner of Income Tax Vs. Lake Palace Hotels and Motels Pvt. Ltd. ...

Court : Rajasthan

Subject : Direct Taxation

Reported in : (1996)130CTR(Raj)585

The table was changed on the basis of general rates or special rates.Sec. 32(1)(v) was added by the Finance Act No. 2 of 1967 and remained in operation for asst. yrs. 1968-69 to 1987-88 and initial depreciation was … assessee was used outside India by any other person. This contemplates that the plant is to be installed. Sec. 32(1A) refers to the building not owned by the assessee where the business or profession is carried on