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Commissioner of Income-tax Vs. Mico Products Pvt. Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Finance Act, 1980; Constitution of India - Articles 14, 19(1)(8) and 226; Income Tax Act, 1961 - Sections 32, 32(1) and (2), 35, 35(1), (2), (2B), (B), B(2) and C(2)

Reported in : (1990)92BOMLR659; [1991]187ITR517(Bom)

regarding expenditure on scientific research was first felt in the U.K. after the Second World War. The U.K. Finance Act, 1944, gave for the first time a tax benefit in respect of expenditure on scientific research. The statement … as Sub-section (1A) in section 80J, with retrospective effect from April 1, 1972. The majority judgment of the Supreme Court held that the amendment was … entitled to depreciation on these items under section 32(1) of the Income-tax Act, 1961, even though deduction under section 35(1)(iv) and section 32(2)(ia) of the Income-tax Act, 1961, had already been allowed in the previous years in respect

M/S. Hotel East Park and Another Vs. Union of India and Others

Court : Chhattisgarh

Subject : Service Tax

1. The main point involved in this writ petition relates to the validity of section 66E(i) of the Finance Act, 1994 [Statutory Provisions Relating to Service Tax] (the 1994-Act). THE FACTS 2. M/s. Hotel East Park (the Petitioner) … State of Himachal Pradesh Vs. M/s Associated Hotels of India Limited [A.I.R. 1972 S.C. 1131] (the Associated-Hotel case), the Supreme Court held that the supply … service tax in public interest. The Notification has been issued in pursuance of the power conferred under this section. 35. The Notification exempt, the taxable services from whole of the service tax leviable upon them. Clause 19 of

Vijay Krishan vs.the State Trading Corporation & Ors

Court : Delhi

Subject : Land Acquisition

State Trading Corporation of India Limited, New Delhi failed to ensure proper examination of the business proposal from finance angle of the STC Metal Scrap Division for grant of financial assistance of Rs.150 crore to M/s Metro … to the following: (i) Deduction of 100% gratuity was contrary to Section 4(6) of the Payment of Gratuity Act, 1972 (hereinafter referred to as “the Act”) under which termination of employment was the sine qua non for passing … vide Office Order dated 12th May, 2006. W.P.(C) 6301/2010 Page 1 of 35 2. On 28th July, 2006, a charge-sheet was issued, to the petitioner,

Madura Coats Ltd. Vs. Assistant Collector of Central Excise and ors.

Court : Chennai

Subject : Excise

Acts : General Clauses Act, 1897 - Sections 6 and 24; Companies Act, 1913 - Sections 3; Mines Act, 1923 - Sections 29; Mines (Amendment) Act, 1952 - Sections 57 and 58; Companies Act, 1956 - Sections 10 and 75; Finance Act, 1972 - Sections 64; Arms Act, 1878 - Sections 15

Reported in : 1979CENCUS17D; 1978(2)ELT511(Mad)

of the powers conferred by Rule 8(1) of the Central Excise Rules, 1944.2. By Section. 64(c) of the Finance Act 1972, the Central Excise item No. 18 was amended and a new Tariff item No. 18-E was introduced. Varieties

Commissioner of Income-tax Vs. Gujarat State Fertilizers Co. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A, 43(1), 43A and 43A(1)

Reported in : (2003)179CTR(Guj)266; [2003]259ITR526(Guj)

(No. 2) Act of 1967, with effect from April 1, 1967, whereas Section 32A was inserted by the Finance Act, 1976, with effect from April 1, 1976. Hence, the non obstante clause in Section 43A could not have … Officer had treated it as capital expenditure. This was agitated in appeal against the orders of assessments for 1972-73 and 1975-76. But the Commissioner of Income-tax (Appeals), following the decision of the Tribunal allowed the claim for … even in respect of development rebate. Section 43A(1) itself refers to Section 35(1)(iv) {capital expenditure on scientific research related to the business) and Section 35A

Jaswant Sugar Mills Ltd. Vs. Union of India (Uoi) and ors.

Court : Allahabad

Subject : ExciseCivil

Acts : Essential Commodities Act - Sections 3; Levy Sugar Supply (Control) Order, 1972; Central Excise Act, 1944; Additional Duties of Excise (Goods of Special Importance) Act, 1957; Finance Act, 1970 - Sections 32 and 35; Constitution of India - Article 226

Reported in : 1984(3)ECC355; 1983(13)ELT920(All)

under the Additional Duties of Excise (Goods of Special Importance) Act, 1957. Sections 32 and 35 of the Finance Act, 1970, fixed the rate of excise duty at 30 per cent ad valorem and additional excise duty at … and operates a sugar factory at Bagpat Road, Meerut. The Central Government by its order dated 15th June, 1972, in exercise of powers conferred by Section 3 of the Essential Commodities Act, promulgated Levy Sugar Supply (Control)

Commissioner of Income Tax, Kerala Vs. Tara Agencies

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 35B(1A), 35(1)(B) and 801B; Finance Act, 1978 - Sections 2(7), 32A, 35B(1A), 35B(2), 80MM and 80MM(2); Marine Products Export Development Authority Act, 1972 - Sections 3(1); State Financial Corporation Act, 1951 - Sections 2(C); Bombay Sales Tax Act, 1953 - Sections 7 and 8; Kerala General Sales Tax Act, 1963 - Sections 5A(1); Central Sales Tax Act, 1956 - Sections 8(3); Central Sales Tax Rules - Rule 13; Central Excise Act, 1944 - Sections 2

Reported in : (2007)210CTR(SC)454; 2007(214)ELT491(SC); [2007]292ITR444(SC); JT2007(9)SC65; 2007(3)KLT624(SC); 2007(9)SCALE100; (2007)6SCC429

the controversy involved in this case, it would be proper to reproduce Section 35B(1A)&(2) as introduced by the Finance Act, 1978:(1A) Notwithstanding anything contained in Sub-section (1), no deduction under this section shall be allowed in relation to … milk by pasteurizing, fruits and vegetables by sorting and repacking.29. According to the Marine Products Export Development Authority Act 1972, [Section 3(1)], processing in relation to marine produces includes the preservation of such products such as canning, freezing, drying, … for the purpose of export is entitled to weighted deduction under Section 35B (1A) of the Income Tax Act, 1961 (hereinafter referred to as 'the

J.M. Shah Vs. J.M. Bhatia, Appellate Assistant Commissioner of Wealth- ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 154; Wealth Tax Act, 1957 - Sections 5, 5(1), 17, 18A, 18A(5), 25, 32, 35 and 35(1)

Reported in : [1974]94ITR519(Bom)

therein with effect from the 1st day of April 1972. In view of the enactment of the said Finance Act, the petitioner was served with a notice dated 25th January, 3rd February, 1972, to the effect that the … to the effect that the Appellate Assistant Commissioner proposed to rectify the wealth-tax assessment of the petitioner under section 35 of the Act, withdrawing the exemption already allowed to the petitioner in respect of jewellery and ornament. The

Commissioner of Wealth-tax Vs. Lalchand Singhai

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1971; Wealth Tax Act, 1957 - Sections 5(1) and 35

Reported in : (1981)25CTR(MP)123; [1983]140ITR314(MP); 1981MPLJ354

in this connection is also made to Expln. 1, which was inserted only with effect from 1st April, 1972. Section 5(1)(viii) as amended by the Finance Act and the Explanation added by that Act were considered by this … the meaning of jewellery in the expression 'but not including jewellery' as inserted in Section 5(1)(viii) by the Finance Act is itself ambiguous and as the scope of the amendment is debatable, the WTO had no jurisdiction to … the circumstances of the case, the Appellate Tribunal was right in law in holding that an order under Section 35 of the W.T. Act could not be passed in so far as there was no mistake apparent from

Jiyajeerao Cotton Mills Ltd. Vs. Income-tax Officer, c Ward and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80E and 154; ;Finance Act, 1965

Reported in : [1981]130ITR710(Cal)

that soda ash is one of the items mentioned in Part III of the First Schedule to the Finance Act, 1965, and the appellant was, therefore, entitled to a special rebate of 35 per cent. on the profits … Ltd. : [1978]112ITR246(Cal) . Here a Division Bench of this court considered the effect of the I.T. (Amend.) Act, 1972, on a proceeding for rectification of a mistake initiated under Section 35 of the Indian I.T. Act, 1922,