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Glaxo Laboratories (India) Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)18ITD226(Mum.)

84 ITR 661 observed that it was well recognized that specific dates in the 1961 Act and the Finance Act, 1955, had reference to assessment years and had nothing to do with the accounting years of an assessee … Section 40(a)(v) of reimbursement by employer company of medical expenses incurred by managing director in the assessment years 1969-70 and 1970-71 when the said provision was in force. [Section 40(a)(v) was deleted and substituted by Section 40A(5) … decision in IT Appeal Nos. 676-679 (Hyd.) of 1980 dated 30-3-1981 (PB 33-34).46. We have perused the said decision of the Hyderabad Bench where for

Bharat Textile Works and ors. Vs. Income-tax Officer Circle-iv, 3-a, ( ...

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 215 and 217(1A)

Reported in : [1978]114ITR28(Guj)

interest when no estimate is made and under sub-section (1A) of section 217 which was added by the Finance Act, 1969 where, on making a regular assessment, the Income-tax Officer finds that any such person as is referred to … by the assessee) exceed the amount of advance tax demanded from him under section 210 by more than 33-1/3 per cent. of the latter amount, he shall, at any time before the date on which the last

Commissioner of Income-tax, Gujarat-i Vs. Satellite Engineering Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 15C; Income Tax (Amendment) Act, 1961 - Sections 84

Reported in : [1978]113ITR208(Guj)

in its place section 80J was enacted in Chapter VIA to provide a substantially similar relief. By the Finance Act, 1969, the time-limit of 23 years in section 80J(4)(iii) was increased to 28 years and by the Finance Act, … amendment enacted by Finance (No. 2) Act, 1965, the said time limit was raised to 23 years. By section 33 of, and the Third Schedule to, the Finance (No. 2) Act, 1967, section 84 was omitted on and

Trilok Chand JaIn Vs. Dagi Ram Pindi Lall and ors. Overruled

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 54; Income Tax Act, 1961 - Sections 137; General Clauses Act, 1897 - Sections 6

Reported in : ILR1985Delhi331; [1974]95ITR34(Delhi)

provisions continued to be in force till April 1, 1964, on which date, by section 32 of the Finance Act No. 5 of 1964, section 137 was omitted, and by section 33 thereof, section 138 was substituted by … Rohatagi, J. under Rule 2 (as amended) of the Original Side Rules. 1967, in Suit No. 64 of 1969 instituted on the Original Side of this Court. The questions referred to by the learned Judge for the

Sirpur Paper Mills Ltd. Vs. Director of Inspection, Customs and Centra ...

Court : Andhra Pradesh

Subject : Direct TaxationExcise

Acts : Income Tax Act, 1961 - Sections 27, 81, 99(1), 280ZD and 280ZD(6)

Reported in : 1983(12)ELT457(AP); [1982]136ITR120(AP)

20 per cent of the total amount to chargeable on such goods; and...' 19. Section 31 of the Finance Act, 1969, also is in similar terms. Based on the language, learned counsel argued that the special duty contemplated under … Nos. 13, 14, 14F, 15, 15A, 15B, 16, 16A, 17, 18A(2), 21, 22, 23 23A(1), 27, 30, 31(1), 33, sub-items (1), (3A) and (4) of Item No. 34 and Item No. 37 of that Schedule, a special

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

80E and subsequently of Section 80I will apply. Section 80I, it may be noted, was deleted by the Finance Act, 1972 with effect from April 1, 1973. With effect from April 1, 1968 the expression 'priority industry' was … 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 … conferred by Sections 33(1)(b)(B)(i) and 80I of the Income-tax Act, 1961 for the assessment years 1968-69 to 1971-72.2. Section 33 of the Income Tax Act, 1961 provides for the grant of development rebate. Prior to April 1, 1968,

Hotel Horizon P. Ltd. Vs. Secretary to the Department of Tourism and O ...

Court : Delhi

Subject : Direct Taxation

Reported in : (1989)73CTR(Del)136; [1989]175ITR284(Delhi)

aforesaid sections of the Income-tax Act were brought on the statute book on the basis of the said Finance Act. Section 32(1)(v) and section 33(1)(b)(B)(ii) and section 80J(6) (d) all clearly contemplate grant of concessions mentioned therein to … rief, are that on the application of the petitioner, vide letter No. 5-TH. I(62) /68, dated January 29, 1969, the Department of Tourism, Government of India, conveyed the approval of the Government for the hotel project Horizon

Commissioner of Income-tax Vs. Century Enka Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 33(1)

Reported in : [1981]130ITR267(Cal)

(12) Textile auxiliaries. (13) Sizing materials including starch. (14) Miscellaneous chemicals. ' 24. It was only after the Finance Acts of 1964 and 1965 that the Legislature had used the term 'Petrochemical'. It appears that the legislative … which is engaged, inter alia, in the manufacture of nylon yarn. In 1969, the Inspector of Central Excise informed the assessee that it should apply … Boddu Paidanna & Sons [1938] 1 STC 104 ; AIR 1942 FC 33, where Chief Justice Gwyer observed, inter alia, as follows:'The duties of excise … Sabyasachi Mukharji, J.1. In this reference, under Section 256(1) of the I.T. Act, 1961, for the assessment years 1971-72 and 1972-73, the following questions have been referred to this court:'1. Whether,

CochIn Company Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33(1) and 33(1A); Finance Act, 1966 - Sections 2(5) and 2(7)

Reported in : [1978]114ITR822(Ker)

the export of any goods or merchandise out of India within the meaning of Section 2(5)(a)(i) of the Finance Act, 1966 (iii) Whether the Tribunal was right in holding that the assessee is not an 'industrial company' as … of assessments made against the same company for the years 1965-66 and 1969-70. The Tribunal held that the claim put forward by the asses-see for … forward by the asses-see for development rebate in respect of the fishing trawler is not covered either by Section 33(1A)(a) of the Act or any other provision contained in the Act. A contention had been advanced before the

Commissioner of Income Tax, Karnataka, Bangalore Vs. M/S. Shaan Financ ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A(2 and 47) and 33; Finance Act, 1976

Reported in : 1998IIIAD(SC)176; AIR1998SC1372; 1998(2)CTC87; [1998]231ITR308(SC); JT1998(2)SC564; 1998(2)SCALE395; (1998)3SCC605; [1998]2SCR367

1st of April, 1976, however, Section 32A was introduced in the Income-tax Act, 1961 granting investment allowance under Finance Act, 1976. A circular of the department being circular No. 202 dated 5th of July, 1976, which explained the … was allowed development rebate in the assessment year 1965-66. However, in August 1969 some of the machinery was let out by the assessee for a … High Courts of Karnataka and Madras.11. The provisions relating to investment allowance are akin to the provisions under section 33 of Income-tax Act, 1961 relating to development rebate which was discontinued with effect from 1st of April, 1974