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Commissioner of Income-tax Vs. Vippy Solvex Products P. Ltd.

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Finance Act, 1974 - Sections 16; Income Tax Act, 1961 - Sections 33, 33(5), 256 and 256(1)

Reported in : [2005]273ITR375(MP)

inter alia, on the ground that the same does not satisfy the requirement of Section 16(c) of the Finance Act, 1974. The assessee felt aggrieved of this order filed an appeal to the Commissioner of Income-tax (Appeals). By … the development rebate on plant and machinery for which agreement to supply was entered into on December 28, 1973 ?'2. The facts in so far as they are relevant and stated in the statement of case drawn

Commissioner of Income-tax Vs. Lokmat Mews Papers Pvt. Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 33(5) and 263; Finance Act, 1974 - Sections 16

Reported in : [1995]216ITR199(Bom)

the opinion that the assesses-company was not entitled to development rebate in view of section 16(c) of the Finance Act, 1974, initiated proceedings under section 263 of the Act and after hearing the assesses, passed an order directing … material facts are as under : The assesses is a limited company. It was incorporated on June 21, 1973. It became a partner in a firm styled Lokmat on July 1, 1973. The firm used to close

Travancore Electro-chemical Industries Ltd. Vs. Commissioner of Income ...

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 37, 80J, 214 and 246; Surtax payable under Companies (Profits) Surtax Act, 1964; Finance Act, 1974 - Sections 16

Reported in : [1995]214ITR195(Ker)

facts and in the circumstances of the case, and also on an interpretation of Section 16(c) of the Finance Act, 1974, is the assessee entitled to development rebate on the eight items listed in paragraph 2 of the … the asessee furnished evidence to the satisfaction of the Income-tax Officer that before the first day of December, 1973, he had purchased such machinery or plant or had entered into a contract for purchase of such machinery

Commissioner of Income-tax Vs. Vippy Solvex Products P. Ltd.

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 256(1) and 256(2); Finance Act, 1974 - Sections 16

Reported in : [1998]230ITR92(MP)

dated May 25, 1971, in respect of plant and machinery installed after May 31, 1974. Section 16of the Finance Act, 1974, however, provided that the benefit of the scheme would be available in some exceptional cases even in … exceptional cases even in respect of plant and machinery installed after May 31, 1974. The relevant Clause of Section 16 of the Act of 1974 thus reads as under (see [1974] 94 ITR 46) :'(c) any machinery or … andmachinery for which agreement to supply was entered into on December 28, 1973?'2. The assessment year involved is 1975-76. The Assessing Officer disallowed the claim

New Excelsior theatre Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 33(4) and (5) and 34(3); Finance Act, 1974 - Sections 16

Reported in : [1994]210ITR570(Bom)

The claim was made under section 33(4) of the Income-tax Act, 1961, read with section 16(c) of the Finance Act, 1974. This claim has been disallowed by the Tribunal. Hence, at the instance of the assessees, the following … this project, Messrs. Empire Estates had placed an order for machinery and other equipment prior to December 1, 1973. The machinery so ordered consisted, inter alia, of a projector of the value of Rs. 8,75,000, an airconditioning

East India Hotels Ltd. and Another Vs. the State of Rajasthan and Othe ...

Court : Rajasthan

Subject : Other Taxes

Acts : Rajasthan Land and Building Tax Act, 1984 - Sections 2(10), 3(1B), 6, 13, 15, 19, 21, 37, 42 and 50; Constitution of India - Articles 14, 141, 245, 265 and 299; The Finance Act, 1989 - Sections 3(1B) and 16A (1); Companies Act, 1956; Finance Act, 1997 - Sections 14; Wealth Tax Act, 1957; Rajasthan Lands and Buildings Tax (Amendment) Act, 1995; Rajasthan Urban Land Tax (Amendment) Act, 1973 - Sections 8 and 12; Code of Civil Procedure (CPC), 1908 - Sections 58

Reported in : 2001(3)WLC62

in the matter of one lime tax scheme introduced by way of insertion of Section 3(1B) of the Finance Act, 1989 (Act No. 6 of 1989)(2). The questions for our consideration are that:-(1) Whether, fresh assessment is permissible … declared a cantonment or is constituted a municipality, after the commencement of the Rajasthan Urban Land Tax (Amendment) Act, 1973, the tax on lands and buildings situate in such area shall be levied and collected with effect from … According to the petitioner, this action of the respondent No.2 is also rendered the alternative remedy prescribed In Section 16(1) of the Act of 1964 as not only nugatory and onerous but also inefficacious and burdensome in as

East India Hotels Ltd. and anr. Vs. State of Rajasthan and ors.

Court : Rajasthan

Subject : Direct Taxation

Acts : Rajasthan Land and Buildings Tax Act, 1964 - Sections 2(10), 3, 3(1B), 6, 10, 10A, 11, 11(1), 13, 13(1), 13(1B), 14, 15, 15B, 16A(1), 16(1), 21, 22 and 22A; Rajasthan Urban Land Tax (Amendment) Act, 1973 - Sections 4, 7, 7(2), 7(3) and 8 to 12; Rajasthan Lands and Buildings Tax (Amendment) Act, 1995; Rajasthan Ordinance, 1988; Wealth-tax Act, 1957; Motor Vehicles Taxation Act; Finance Act, 1989 - Sections 3(1B); Companies Act; Constitution of India - Articles 14, 141, 245 and 265

Reported in : AIR2001Raj286; [2001]250ITR789(Raj); 2001(4)WLN217

in the matter of the one-time tax scheme introduced by way of insertion of Section 5(1B) of the Finance Act, 1989 (Act No. 6 of 1989).2. The questions for our consideration are :'(1) Whether, fresh assessment is permissible … declared a cantonment or is constituted a municipality, after the commencement of the Rajasthan Urban Land Tax (Amendment) Act, 1973, the tax on lands and buildings situate in such area shall be levied and collected with effect from … crores. According to the petitioner, this action of respondent No. 2 also renders the alternative remedy prescribed in Section 16(1) of the Act of 1964 as not only nugatory and onerous but also inefficacious and burdensome inasmuch as

Piarelal Sakseria Family Trust Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 164 and 164(1)

Reported in : (1982)136GLR583

1973-74, respectively. In view of the amendment of Section 164 with effect from April 1, 1971, by the Finance Act, 1970, the ITO elected to tax the income of each year at the rate of 65% on the … the income of the trust could be charged to tax at the rate of 65% as provided under Section 16 of the Income-tax Act, 1961 (3) Whether, on the facts and in the circumstances of the case, the

Suresh Chand Talera Vs. Commissioner of Income Tax

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 4(1), 10, 64(1A), 133A, 145, 145(2), 146 and 260A; Finance Act, 1973; Finance Act, 1996 - Sections 2; Essencial Dispute Act - Sections 6 and 16; Constitution of India - Article 366(9)

Reported in : (2006)201CTR(MP)153; [2006]282ITR341(MP)

the rate that is to be applicable to the income of the appellant. He submitted that since the Finance Act, 1973, every Finance Act has been making such provision for taking into consideration the agricultural income of the assessee … section as well as the deeming provisions contained' in Sections 6 to 16 of the ED Act cannot be interpreted so as to subject an … 1. This is an appeal under Section 260A of the IT Act, 1961.2. The relevant facts briefly are that the appellant carries on inter alia,

Modi Vanaspati Mfg. Co. Vs. Collector of Customs and Central

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Land Acquisition

Reported in : (1985)(22)ELT615TriDel

on or after 1-10-1975. The significance of this date is that by virtue of Section 47 of the Finance Act, 1982, an Explanation was inserted under Sub-clause (ii) of clause (d) of Section 4 (4) of the Central … have to be again determined after taking into consideration the relief and exemption granted under the notification, dated 16th June, 1976. It is neither intended by the notification nor is it practicable that the assessable value should