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Bhawanidas Binani Vs. Commissioner of Wealth-tax
Mumbai
Jun-27-1978
Direct Taxation
Wealth Tax Act, 1957 - Sections 2; Finance Act, 1965 - Sections 68; Income Tax Act, 1961
[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 … circumstances of the case, any part of the tax paid under Section 68 of the Finance Act, 1965, was a ' debt owed ' on … 1. In this reference the question referred to us for our opinion by the Income-tax Appellate Tribunal under Section 27(1) of the W.T. Act, 1957, is as follows :' Whether, on the facts and in the circumstances
Tag this Judgment! AI Brief & AskSulemanji Ganibhai Vs. Commissioner of Income-tax
Madhya Pradesh
Aug-30-1978
Direct Taxation
Income Tax Act, 1961 - Sections 139(1), 139(5), 271 and 271(1); ;Finance Act, 1968 - Sections 19; General Clauses Act, 1897 - Sections 6
(1979)8CTR(MP)11; [1980]121ITR373(MP); 1979MPLJ416
wasright in holding that for fixing the quantum of penalty the provisions as they stood amended by the Finance Act, 1968, had application ?'2. The assessee is a registered partnership firm deriving income from agency business in cement and … v. C. P. Manganese Ore Co. Ltd. : [1977]1SCR1002 ]. Repeal by substitution will attract the provisions of Section 6 of the General Clauses Act, 1897. Any right acquired and liability and penalty incurred under the repealed provision
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 … this court in Deputy CST v. Pio Food Packers [1980] 46 STC 63, among other decisions. In the said decision, the test evolved for determining
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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 … Subramonian Poti, J.1. This is a reference to this court under Section 256(1) of the Income-tax Act, 1961, arid the question referred to us is :' Whether, on the facts
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 … (hereinafter referred to as 'the assessee') declared a total dividend of Rs. 6,90,000. This dividend was in excess of ten per cent. of the share
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 & 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 & AskBireswar Sirkar Vs. Collector of Central Excise and ors.
Kolkata
May-15-2002
Excise
Constitution of India - Articles 14, 19, 21 and 226; ;Gold Control Rules - Rule 126(1), 126(1) and 126M; ;Gold Control Act, 1968 - Sections 4, 68 and 78; ;General Clauses Act, 1897 - Section 6; ;Finance Act, 1995; ;Gold Control Ordinance, 1968; ;Defence of India Rules; ;Central Excise Act, 1944
(2003)2CALLT523(HC),2003(162)ELT1170(Cal)
126(I)(10) of the Rules. It was observed that rule must be deemed to be continuing in view of Section 6 of the General Clauses Act, 1897. It was observed that it is true that Gold Control Act, 1968 … Their nomenclature have been changed, they have now been designated as the Commissioner of Central Excise by the Finance Act of 1995. The Collector of Central Excise and Customs does not exist, which used to be the adjudicating … to the petitioner under the Defence of India Act and the Rules framed thereunder. Thereafter, the Gold Control Act, 1968 (hereinafter referred to as the Act) came into force and all the proceedings which were initiated under the
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
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 … not an industrial company and therefore levied income-tax at the rate of 65 per cent, which is applicable to non-industrial companies. On appeal, the Appellate
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