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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

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 … 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

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 … 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

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 … Objects and Reasons as notified in Gazette of India of 16-9-1954, Part II, S. 2. Ext., page 596 said that by virtue of entry 40

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 … In this regard, he was impelled by the consideration that while Section 2(31) of the IT Act, 1961 defined the term "person" as including "every

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 … facts and in the circumstances of the case the amount of Rs. 2,668 spent by Delhi branch of the assessee for providing lunch and dinners

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 … Section 5, computed in the manner laid down in the Act. Chapter III deals with incomes which do not form part of total income. Certain

Niemla Textile Finishing Mills P. Ltd. Vs. Income-tax Officer and Anot ...

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (1985)45CTR(P& H)263; [1985]152ITR429(P& H)

or in part of synthetic, artificial (man-made) fibres, including yarn and hosiery of such fibres. .......'Later, by the Finance Act 1965, Chapter XXII-B pertaining to tax- credit certificates was inserted in the I.T. Act wherein is included s. … is alleged that in the base year for the period commencing from April 1, 1965, to March 25, 1970, on an income of Rs. 71,645 to a tax liability of Rs. 34, 672 and thus for the … by the licensing of all new undertakings by the Central Government. Section 2 of the Act declared that it was expedient in public interest that

Nagaraj Shivarao Karjagi Vs. Syndicate Bank Head Office, Manipal and A ...

Court : Supreme Court of India

Subject : Service

Acts : Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 - Sections 2, 8 and 19; Syndicate Bank Officer Employees' (Discipline and Appeal) Regulations 1976 - Regulations 4, 5, 6, 7, 17, 19 and 20; Syndicate Bank Officer Employees' (Conduct) Regulations, 1976 - Regulation 3 (1); Constitution of India - Articles 226 and 320 (3);Constitution of India - Articles 226 and 320 (3)

Reported in : AIR1991SC1507; [1991(63)FLR133]; JT1991(2)SC529; (1992)IILLJ149SC; (1991)2MLJ7(SC); 1991(1)SCALE832; (1991)3SCC219; [1991]2SCR576; 1991(2)LC216(SC); (1991)2UPLBEC1049

1287 of 1989 he has questioned the validity of the direction dated 21 July 1984 issued by the Finance Ministry, Government of India. Since the questions raised in both the cases are inter locked, we grant special … 19768. These Regulations have been framed under Section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. They were framed by the Board of Directors of the Syndicate Bank in consultation with the Reserve Bank … at the conclusion of the proceedings. Article 232 of the C.V.C. Manual Chapter 10 reads: In all the cases where C.V.C. advises initiation of major … and proceed to dispose of the same along with the writ petition. 2. The events leading to these cases may briefly be stated. In 1982,

Seshasayee Paper and Boardas Ltd. Vs. Deputy Director of Inspection, C ...

Court : Chennai

Subject : Direct Taxation

Reported in : [1978]114ITR616(Mad)

tax credit certificate should also the special excise duty payable by the company under section 27(4) of the Finance Act, 1973.3. The amount of tax credit certificate to which the company is entitiled should be determined item-war and … April, 1965, or any subsequent financial year (not being a year commencing on the 1st day of April, 1970, or any financial year thereafter) manufactures or produces any goods, shalll be granted a tax credit certificate for … stimulate industrial output, the Government of India introduced certain special provisions in Chapter XXII-B of the Income-tax Act, 1961, for the grant of tax credit … the validity of the orders passed by the respondents Nos. 1 and 2 on the ground that section 280ZD of the Income-tax Act and the