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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 … for the assessee contended that in the interpretation of the word 'attributable' occurring in the Explanation appended to section 2(6) (c) of Chapter II of the Finance Act, 1970, a wider interpretation has to be adopted and receipts

Commissioner of Income-tax, Bombay Vs. Tiecicon P. Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Finance Acts, 1969 and 1970 - Sections 2(6)(d), 2(6)(c)

Reported in : [1987]168ITR744a(SC); 1988Supp(1)SCC481; 1988(Supp)SCC487

in the building under consideration, it was an “industrial company” within the meaning of Section 2(6)(d) of the Finance Act, 1968 and Section 2(6)(c) of the Finance Acts, 1969 and 1970, as it could be said to have

Commissioner of Income-tax Vs. Shiv Chand Satnam Paul

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 2(14) and 45; Finance Act, 1970

Reported in : (1998)145CTR(P& H)246; [1998]231ITR663(P& H)

the classes of land included in items (a) and (b) of Section 2(14)(iii) of the Act. By the Finance Act, 1970, with effect from the assessment year 1970-71, certain specified lands situate in urban areas or semi-urban areas were

Orient Longman Ltd. Vs. Commissioner of Income-tax, Delhi-ii

Court : Delhi

Subject : Direct Taxation

Acts : Finance Act, 1970 - Sections 2(6)

Reported in : [1981]130ITR477(Delhi)

assessed claimed that it was an industrial company within the meaning of s. 2 (6) (c) of the Finance Act, 1970, and was, thereforee, entitled to be assessed at a concessional rate in accordance with the said Act. The … Appellate Tribunal was justified in holding that the assessed is not an industrial company within the meaning of section 2(6) (c) of the Finance Act, 1970 ?' 2. It was submitted before us that the question referred

Singhai Rakesh Kumar Vs. Union of India and ors.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2 and 45; Constitution of India - Article 366(1); Income Tax Act, 1922; Finance Act, 1970 - Sections 2

Reported in : [2001]247ITR150(SC); 2000(7)SCALE666; [2000]Supp5SCR111

India...but does not include agricultural land in India...'. The words 'agricultural land in India' were substituted by the Finance Act, 1970 with effect from 1st April, 1970 to read thus:(iii) agricultural land in India, not being land situate :(a) … High Court to declare as unconstitutional the Explanation to Sub-section (1A) and Clause (iii) of Sub-section (14) of Section 2 of the Income Tax Act, 1961 and to declare that capital gains arising from the sale of agricultural

Mahender Kumar Aggarwal Vs. Commissioner of Income Tax

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80HHA, 80HHA(8), 80I, 80I(1), 80I(2), 80J and 256(1); Finance Act, 1970 - Sections 2(6); Wealth Tax Act, 1957 - Sections 5(1); Industries (Development and Regulation) Act

Reported in : (2005)196CTR(All)39; [2005]277ITR71(All)

publication, purchase and sale of books was an industrial company within the meaning of Section 2(6)(c) of the Finance Act, 1970, which defines the industrial company as follows : 'The industrial company means a company which is mainly engaged

Commissioner of Income-tax Vs. Vishwanath

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 45 to 55A and 55(2); Finance Act, 1970 - Sections 49(1)

Reported in : (1992)107CTR(All)330; [1993]201ITR920(All); [1993]67TAXMAN92(All)

the purview of 'capital asset' as defined in Section 2(14) of the Act after its amendment by the Finance Act, 1970. However, in the computation of ' capital gains ', the assessee put forward a claim that it was

Commissioner of Income-tax Vs. Didar Singh

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 45, 46 to 55A and 256; Finance Act, 1970

Reported in : [1989]179ITR208(P& H)

provisions of Section 2(14) of the Income-tax Act as amended with effect from April 1, 1970?'4. By the Finance Act of 1970, which came into effect from April 1, 1970, the definition of 'capital asset' contained in Section

Union of India and ors. Vs. S. Muthyam Reddy

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1A) & 2(14); Constitution of India - Article 366(1); Finance Act, 1970; Finance Act, 1989;

Reported in : AIR1999SC3881; [1999]240ITR341(SC); JT1999(7)SC596; 1999(6)SCALE305; (1999)7SCC545

opinion amongst the High Courts as to the effect of Section 2(14)(iii) of the Act, as amended by Finance Act, 1970, and hence the Parliament introduced the Explanation by Finance Act, 1989 stating the meaning thereto which is in

Bihar Institute of Mining and Mine Surveying Vs. Commissioner of Incom ...

Court : Patna

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(15)

12A of the said Act lays down registration of trusts. Section 2(15), before its amendment made by the Finance Act, 1983, which came into effect on April 1, 1984, reads thus : ''Charitable purpose' includes relief of the