Advanced Search Results

Bhawanidas Binani Vs. Commissioner of Wealth-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2; Finance Act, 1965 - Sections 68; Income Tax Act, 1961

Reported in : [1980]124ITR783(Bom)

are understood in the sense as propounded by the Allahabad High Court, they would clearly indicate that the Finance Act, 1968, was prescribing a distinct rate of tax on an item of total income which was already subjected to … remains what it was under the I.T. Act, i.e., Section 3 of the Indian I.T. Act, 1922, or Section 4 of the I.T. Act, 1961. According to this submission, the income-tax liability of the assessee was assessed and

Commissioner of Income-tax, Gujarat Vs. Ahmedabad Kaiser-i-hind Mills ...

Court : Gujarat

Subject : Direct Taxation

Acts : Finance Act, 1968 - Sections 2; Income Tax Act, 1961 - Sections 4, 4(1), 28, 37, 40 and 104; Finance Act, 1966 - Sections 2

Reported in : [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 … the aforesaid provision even in the case of a company which has incurred a loss. Now, the charging section of the I.T. Act is s. 4 which, inter alia, provides that where any Central Act enacts that

Balkrishna Binani Vs. Commissioner of Income Tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 3 and 4; Wealth Tax Act, 1957 - Sections 2

Reported in : (1979)9CTR(Bom)62; [1980]121ITR442(Bom)

understood ... in the sense as propounded by the Allahabad High Court, they would clearly indicate that the Finance Act, 1968, was prescribing a distinct rate of tax on an item of total income which was already subjected to … - although it is not possible to say that amount of income tax under charging Section 3 or Section 4 it must be regarded as income tax paid in lieu of such income tax - it would be

Commissioner of Income-tax, Gujarat I Vs. S.P. Bhatt

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 28; Income Tax Act, 1961 - Sections 143, 144, 145(2), 147, 234 and 271(1)

Reported in : [1974]97ITR440(Guj)

are setting out the section as it stood during the relevant assessment years prior to its amendment by Finance Act, 1968 : '271. (1) If the Income-tax Officer or the Appellate Assistant Commissioner, in the course of any proceedings … his income or furnihsed inaccurate particulars of such income for the purposes of clause (c) of this sub-section.' 4. It is clear on a plain grammatical construction of the language used by the legislature that the condition

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 … of the Gujarat High Court in the case of Sarahhai Sons (P) Ltd. v. CIT (1993) 201 ITR 464 (Guj), the senior Departmental Representative submitted that acquisition of shares was with the aim of getting control over

income-tax Officer Vs. Kenaram Saha and Subhash Saha and

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2008)301ITR171(Kol.)

at great length. His arguments/submissions can be summarized as follows: 2. That Section 40A(3) was introduced by the Finance Act, 1968, with effect from April 1, 1968. In the memorandum explaining the provisions in the Finance Bill, 1968, it … Income-tax Act, 1961. The common issue involved in all these appeals is with regard to disallowance under Section 40A(3) of the Act.Sri S.K. Tulsiyan, advocate, appearing on behalf of (i) M/s. Kenaram Saha & Subhash Saha and

Hindustan Wire Products Ltd. Vs. Commissioner of Income Tax, Patiala

Court : Supreme Court of India

Subject : Direct Taxation

Acts : 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

Reported in : 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 … because the assessee received it at a certain time or adopted a certain sYstem of accounting. [301 B] Section 4 does not say that whatever is included in total income must be brought to tax. The income has

Misrilal JaIn and anr. Vs. State of Orissa and anr.

Court : Supreme Court of India

Subject : Other Taxes

Acts : Orissa Taxation (on Goods Carried by Roads or Inland Waterways) Validation Act, 1959 - Sections 1(3), 3 and 27; Orissa Taxation (on Goods Carried by Roads or Inland Waterways) Validation (Amendment) Act, 1962; Constitution of India - Articles 13(3), 144A, 226 and 304; Orissa Taxation (on Goods carried by Roads or Inland Waterways) (Amendment) Act, 1964 - Sections 4; Orissa Taxation (on Goods carried by Roads or Inland Waterways) (Amendment) Act, 1968 - Sections 12; Finance Act, 1961; Finance (Amendment) Act, 1962

Reported in : AIR1977SC1686

comply with the constitutional mandate of Presidential sanction shall not invalidate the Finance Acts of 1961 and 1962. It was held by this Court that … by Roads or Inland Waterways) Validation Act, 1962, Orissa Taxation (on Goods Carried by Roads or Inland Waterways) Act, 1968 and Articles 13 (3), 144 A, 226 and 304 of Constitution of India - Act of 1959 was … judgment of this Court in Jawaharmal v. State of Rajasthan : [1966]1SCR890 is wholly misconceived. In that case, Section 4 of the impugned Act of 1964 in truth and substance provided that the failure to comply with 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)

(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 … carpets. Almost its entire production of carpets is exported out of India. 4. We shall first take up the question of tax concession and higher

J.K. Cotton Spinning and Weaving Mills and Another Vs. Union of India ...

Court : Delhi

Subject : Excise

Acts : Central Excise Rules, 1944 - Rules 9, 9(2), 10, 11, 47, 49, 49A, 53, 54,,73A, 173K and 173Q; Central Excise Act, 1944 - Sections 3, 4, 6, 8, 9, 11, 11A, 11B, 37 and 49; Finance Act, 1982 - Sections 51

Reported in : 1983LC117D(Delhi); 1983(12)ELT239(Del); ILR1983Delhi518

decided by the Supreme Court expeditiously, the Central Government decided to amend the law. Accordingly, while enacting the Finance Act of 1982, the Parliament enacted section 51, which reads as under :- 'Retrospective effect for certain amendments to … Act and the Rules framed there under, as operating up to May 1968. thereforee, prior in 1968, 'removal' within the factory could not be regarded … any part of India as, and at the rates, set forth in the First Schedule to the Act. Section 4 of the Act lays down that where under the Act, the duty of excise is chargeable on any