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India Leather Corporation (P.) Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1970 - Sections 2(6); Income Tax Act, 1961 - Sections 80E, 147 and 256(1)

Reported in : (1989)77CTR(Mad)18; [1989]179ITR170(Mad)

the assessee-company was not an industrial company within the meaning of clause 2(6)(c) of Chapter II of the Finance Act, 1970 ?' 2. The assessee is a private limited company and the assessment year we are concerned with is

Y.D. Nanje Gowda Vs. Union of India and anr.

Court : Karnataka

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957; Income Tax Act, 1961 - Sections 64; Finance Act, 1974 - Sections 14; Finance (Amendment) Act, 1976 - Sections 27; Constitution of India - Article 14

Reported in : ILR1985KAR955; [1985]152ITR618(KAR); [1985]152ITR618(Karn)

and social security which this institution provides to its members. 3.26. We notice that the Taxation Law (Amendment) Act, 1970, and the Finance (No.2) Act, 1971, have plunged the leakage of tax through the device of throwing self-acquired … has challenged Item No. 2 of Part I of the First Schedule to the Act introduced by the Finance Act of 1974 (Central Act No. 20 of 1974), as amended by the Finance Act of 1976 (Central Act … and suggest legal and administrative measures for countering evasion and avoidance of direct taxes in the country (vide Chapter I - 'Introduction') of Direct Taxes Enquiry Committee - Final Report (published by the Government of Indian n December,

Canara Bank and ors. Vs. State of Kerala and ors.

Court : Kerala

Subject : Other TaxesConstitution

Acts : Kerala Municipalities Act, 1961 - Sections 2, 133, 133(1) and 279; Travancore Distirct Municipalities Act, 1116 - Sections 3(8) and 91; Travancore Distirct Municipalities Rules - Rule 16 and 16(1); Constitution of India - Article 276(2); General Clauses Act, 1897 - Sections 6; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 - Sections 2, 2(10) and 10

Reported in : AIR1982Ker1

to dismiss this argument Section 133 (1) provides that nothing contained in Chapter VI of the Kerala Act relating to Taxation and Finance shall be … 519) : (1979 Tax LR NOC 49) by the proviso to Rule 19 (1) of the Taxation and Finance Rules in Schedule II to the Kerala Municipalities Act, 1960 (hereinafter the Kerala Act) the Kerala Legislature has … the assessees herein are corresponding new banks as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the remaining one is a trust. They raise the following questions for consideration in these cases :--

Commissioner of Income-tax Vs. Industrial Promotion and Investment Cor ...

Court : Orissa

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : (1992)103CTR(Ori)222; [1993]199ITR761(Orissa)

the Finance Act, 1981, with effect from April 1, 1982. The original Explanation which was inserted by the Finance Act, 1970, with effect from April 1, 1966, was omitted by the Finance Act, 1974, with effect from April 1, … the deduction was to be of the specified percentage of the total income before making any deduction under Chapter VI-A of the Act, as reduced by the deduction allowable under that section, i.e., under Section 36(1)(viii). In

Heminder Kumari Vs. Assistant Commissioner of Income-tax.

Court : Delhi

Subject : Direct Taxation

Reported in : (1996)56TTJ(Del)280

refers only to the territorial jurisdiction. In this connection he invited our attention to the speech of the Finance Minister given at the time of introducing the Finance Bill, 1970 [75 ITR (Statutes) 22-23] wherein it was … the same does not fall within the definition of 'capital assets' given in section 2(14)(iii)(a) of the Income-tax Act, 1961.2. The case was heard on 20-12-1994, 19-1-1995 and 4-4-1995 and lengthy submissions were made by the learned … ceased to be included in rural areas were excluded. He submitted that Chapters XXV and XXVI of the DMC Act, deal with miscellaneous and supplemental

Heminder Kumari Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1996)57ITD409(Delhi)

refers only to the territorial jurisdiction. In this connection he invited our attention to the speech of the Finance Minister given at the time of introducing the Finance Bill, 1970 [75 ITR (Statutes) 22-23] wherein it was … the same does not fall within the definition of "capital assets" given in section 2(14)(iii)(a) of the Income-tax Act, 1961.2. The case was heard on 20-12-1994, 19-1-1995 and 4-4-1995 and lengthy submissions were made by the learned … ceased to be included in rural areas were excluded. He submitted that Chapters XXV and XXVI of the DMC Act, deal with miscellaneous and supplemental

Jayantilal Dharamsi and ors. Vs. Board of Trustees of Port of Bombay

Court : Mumbai

Subject : TenancyConstitution

Acts : Major Port Trusts Act, 1963 - Sections 33, 34, 49 and 52; Bombay Rents, Hotel and Lodging House Rates Control Act, 1947 - Sections 4(1); Constitution of India - Articles 14 and 19

Reported in : 1991(2)BomCR283; (1990)92BOMLR596

brief : to acquire and own property - moveable as well as immoveable, to employ personnel, to raise finance by taxes, port-fees, pilotages from the units availing of the services rendered by the BPT to raise loans … like Bombay, on the basis of land and building sale transactions from 1970 onwards, and prevailing price of sale transactions in respect of land and … report on December 25, 1980. They explained their approach and methodology in Chapter III. It was made clear that the complexity of the assignment involved … in the rent payable by the petitioners. Affairs of the BPT are regulated by the Major Port Trust Act, 1963 (MPT Act). The BPT's real estate, including structures, covers an area of about 720 hectares. The land

Gopal Srinivasan Trust Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1993)46ITD157(Mad.)

income were the total income of an association of persons. (b) In Section 164(1) as substituted by the Finance Act, 1970, the income received by the trustees of a discretionary trust was chargeable at the rate of sixty five … even gross total income, but total income which can be arrived at only after applying the provisions of Chapter VIAof theAct.Itshould, therefore, follow that the assessees before us are entitled to the benefit of Section 80L.In this

Aphali Pharmaceuticals Ltd. Vs. State of Maharashtra and ors.

Court : Supreme Court of India

Subject : Excise

Acts : Companies Act; Medicinal and Toilet Preparations (Excise Duties) Act, 1955 - Sections 2, 3 and 19(2); Medicinal and Toilet Preparations (Excise Duties) (Amendment) Act, 1961; Drugs Act, 1940 - Sections 3; Finance Act (No. 2), 1962 - Sections 18; Seventh Schedule to the Government of India Act, 1935; Drugs (Amendment) Act, 1955; Drugs and Cosmetics (Amendment) Act, 1964 - Sections 33A; Drugs Control Act, 1950; Patent Act, 1970; Trade and Merchandise Marks Act, 1958 - Sections 81; Drugs (Amendment) Act, 1961; Finance Act, 1964; Drugs Rules; Medicinal and Toilet Preparations (Excise Duties) Rules, 1956 - Rule 8, 64, 65 and 66; Drugs Control Ordinance, 1949; Indian Patents and Designs Act, 1911

Reported in : AIR1989SC2227

item 3(i) of the Schedule as amended by the Amendment Act of 1961.5. By Section 18 of the Finance Act, 1962, the Act was further amended by substitution of an Explanation No. 1 to the Schedule of the … force. 'Patent' means a patent granted under the Indian Patents and Designs Act, 1911, and now the Patent Act, 1970. A patent medicine will, therefore, mean medicine in respect of which a patent is in force. 'Proprietary' means … amendments were effected by that Amendment Act of 1964. Section 33A and Chapter IVA were inserted. Section 33A said that Chapter IV was not to

Commissioner of Income-tax Vs. Navabharat Enterprises (P.) Ltd.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act 1961 - Sections 6, 28, 29, 30, 31, 32, 33, 33A, 34, 35, 35B, 35B(1), 36, 37, 37(1), 37(2), 37(2A), 37(2B), 37(4), 38, 39, 40, 41, 42, 43A, 260 and 260(1)

Reported in : (1987)62CTR(AP)189; [1988]170ITR332(AP)

the assessee other than, out of an entertainment allowance paid to him by the assessee. Then, by the Finance Act, 1970, Parliament further introduced sub-section (2B) in section 37 removing the last vestige. While introducing the Finance Bill, the … compendious phrase 'in the nature of entertainment expenditure' in sub-sections (2), (2A) and (2B) of section 37(1). 17. Chapter IV of the Act deals with the computation of total income under different heads of income. Part A