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V. Guruviah Naidu and Sons Vs. Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 35B and 35B(1); Finance Act, 1970 - Sections 8

Reported in : [1995]216ITR156(Mad)

connection therewith', which expression was not originally there, but has been retrospectively inserted by s. 8 of the Finance Act, 1970. The legislature, however, carefully divided the qualifying expressions and while retrospectively inserting 'not being expenditure incurred in India … incurred in India in connection therewith', which expression was not originally there, but has been retrospectively inserted by section 8 of the Finance Act, 1970. The Legislature, however, carefully divided the qualifying expressions and while retrospectively inserting 'not

Ansal Housing and Construction Ltd. Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A, 35D, 35D(2), 35D(6), 35E, 54D, 80IA, 143(3), 260A and 80HHA; Taxation Laws (Amendment) Act, 1970 - Sections 8; Finance Act, 2008 - Sections 35D; Sick Industrial Companies (Special Provisions) Act 1985 - Sections 2, 3 and 3(1); Industries (Development and Regulation) Act, 1951 - Sections 2 and 3; Industrial Disputes Act 1947; Central Industrial Security Force Act, 1968 - Sections 2(1)

Reported in : (2010)228CTR(Del)262; [2010]320ITR420(Delhi); [2009]185TAXMAN74(Delhi)

case the Tribunal erred in law in not appreciating the amendment to Section 35-D of the Act vide Finance Act 2008 is clarificatory in nature and therefore should be applicable retrospectively?8. We now proceed to determine these questions.9. … deduction as business expenditure since the same is not treated as revenue deduction However by Taxation Laws (Amendment) Act 1970 the Legislature introduced Section 35-D of the Act which came into force with effect from 141971 It enables

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 … case, the Tribunal is right in holding that the assessee was not entitled to the relief under Section 80I ?'2. Briefly stated, the facts giving rise to the present reference are as follows :The applicant is an

Commissioner of Income-tax Vs. Pooranchand.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (1995)121CTR(Raj)479; [1995]212ITR88(Raj)

was held not leviable.Section 2(1A) of the Act defines agricultural income. Section 2(14) defines capital asset. By the Finance Act, 1970, agricultural lands were excluded from the definition of the term 'capital asset', but this exclusion is not applicable … on January 1, 1954, was taken at Rs. 7,800. The returned income shown by the assessee was Rs. 8,909 and the assessment was made at a figure of Rs. 31,300. The final income was assessed, as determined

Commissioner of Wealth-tax Vs. 1. Smt. Vidyawati Devi Rathi 2. Smt. Pr ...

Court : Rajasthan

Subject : Direct Taxation

Reported in : (1986)57CTR(Raj)107; [1986]160ITR887(Raj)

the assessee, subject to a maximum of twenty-five thousand rupees in value.'This clause(xv) was subsequently deleted by the Finance Act, 1963. In CWT v. Arundhati Balkrishna : [1970]77ITR505(SC) , their Lordships of the Supreme Court, while considering the … N. M. KASLIWAL J. - An identical question of law has been referred under section 27(1) of the Wealth-tax Act, 1957, in all the above-mentioned reference applications and, as such, the same are … taking the latter view are CWT v. Binapani Chakraborty [1978] 114 ITR 82, CWT v. Aditya Vikram Birla : [1978]114ITR711(Cal) , CWT v. Smt. Tarabai

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 … and reasons of the Amendment Bill, as published in Gazette of India, 8-3-1961, Pt. II, S. 2, Ext., page 106, said:Consequent on the decision to

Commissioner of Income-tax Vs. Biswanath Tea Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 30 to 36, 37 and 37(4)

Reported in : (2003)185CTR(Cal)488,[2003]264ITR166(Cal)

CIT : [1991]191ITR518(Cal) , wherein this court had similarly observed that Section 37(4) had been inserted by the Finance Act, 1970, for disallowance altogether of expenditure incurred after February 28, 1970, on the maintenance of guest-houses other than 'holiday

Tulsidas V. Patel (P.) Ltd. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1998)65ITD287(Mum.)

years the Tribunal held that the whole property was not liable for wealth-tax under section 40 of the Finance Act, 1983, and in support thereof, the assessee produced the Tribunal's order dated 9-12-1994 for assessment years 1988-89 and … Supreme Court, repelling that contention, held the following : "(14) Now to revert to paragraphs 2, 5 and 8 which the learned Judges considered amounted to a clear and unequivocal denial of the Government's title, they referred

Tulsidas Vs. Patel (P) Ltd. V. Wealth Tax Officer

Court : Mumbai

Subject : Direct Taxation

Reported in : (1998)61TTJ(Mumbai)282

the Tribunal held that the whole property was not liable for wealth- tax under section 40 of the Finance Act, 1983, and in support thereof, the assessee produced the Tribunals order dated 9-12- 1994 for assessment years 1988-89 … Honble Supreme Court, repelling that contention, held the following :'(14) Now to revert to paragraphs 2, 5 and 8 which the learned Judges considered amounted to a clear and unequivocal denial of the governments title, they referred

Mahender Kumar Agarwal Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1986)19ITD474(Delhi)

assessee-company was an industrial company entitled to concessional rate of tax in terms of Section 2(6)(c) of the Finance Act, 1970. On the analogy of the aforesaid two cases, it was urged by the assessee in the present case … 1. The short controversy in these appeals is whether the assessee is entitled to the relief under Section 80-I of the Income-tax Act, 1961 ('the Act'), in respect of the assessment years 1982-83 and 1983-84.The facts are