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Assistant Commissioner of Income Vs. Visharad Automobiles Financiers

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2007)108ITD294(Delhi)

being taken from Interest-tax Appeal No. 1/Del/2005.4. The AO passed an order under Section 8(2) of the Interest-tax Act, 1974. It was held that hire charges/financing commission was liable to be taxed for the purpose of charging interest-tax. … that the mandatory initial deposits by the hirer is by way of securing the interest on the amount financed. 4. In the facts and circumstances of the case, the learned CIT(A), failed to appreciate the fact that … on the following case laws:Instalment Supply (P) Ltd. v. Union of India 12.2 So, according to the learned Departmental Representative, what is material in such

Commercial Motors Finance Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

Reported in : (2002)82ITD176Luck

requiring the assessee to file the return "within the period not being less than 30 days". By the Finance Act (No. 2) of 1996, these words have been omitted and the amended provisions of Section 148 as it … came "in the definition of chargeable interest" as per Section 5 r/w Section 2(7)/2(58) (sic) of Interest tax Act, 1974. The AO also held that receipts shown as "Interest earned on Loans & Advances" also formed a part … 2nd Feb., 1999, for the asst. yr. 1994-95. ITA Nos. 7 to 12 (six appeals) have been filed by the other assessee, namely, M/s Kailash

Indian Farmers Fertilizers Co-operative Ltd., Ahmedabad Vs. Union of I ...

Court : Supreme Court of India

Subject : Customs

Acts : Customs Act, 1962 - Sections 25(1); Indian Tariff Act, 1934 - Sections 2, 12 and 26; Finance Act, 1974 - Sections 19; Bombay Cooperative Societies Act

Reported in : 2000(67)ECC202; 2000LC1(SC); 2000(115)ELT11(SC); (2000)4GLR753; JT1999(10)SC1; 1999(7)SCALE478; (2000)2SCC107; 2000(1)LC407(SC)

28(16) which prescribed a standard rate and preferential rate of duty for phosphoric acid.4. Section 19 of the Finance Act, 1974 has made a provision for levy of auxiliary duty on goods covered by the First Schedule to the … auxiliary duty @ 5% under Clause 2 of the aforesaid Table and not @ 15% under Clause 1.6. Section 12 of the Act provides that except as otherwise provided or any other law for the time being in

India Tyre and Rubber Co. (India) Pvt. Ltd. Vs. Commissioner of Income ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961; Finance Act, 1974 - Sections 2(8)

Reported in : [1994]210ITR409(Bom)

in the manufacture of goods and as such it was not an industrial company as defined in the Finance Act, 1974 ?' 2. Section 2(8) (c) of the Finance Act, 1974, defines the expression 'industrial company' for the purposes … and the reference has been made by the Tribunal to this court as indicated above. 6. On September 12, 1956, the Government of India granted a licence in favour of Messrs. Dunlop Rubber Co. (India) Ltd., as

National Planning and Construction Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Subject : Direct Taxation

Acts : Finance Act, 1974 - Section 2(8); ;Finance Act, 1975

Reported in : [1980]122ITR197(Cal)

the hearing Dr. Debi Pal, learned counsel for the assessee, drew our attention to Section 2(8)(c) of the Finance Act, 1974, which reads as follows :' (c) ' Industrial company ' means a company which is mainly engaged in

Amrit Lal Seth Vs. Union of India and anr.

Court : Delhi

Subject : CriminalCustoms

Acts : Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 3(1); Constitution of India - Article 22(5); Customs Act, 1962 - Sections 111

Reported in : AIR1987Delhi340; 28(1985)DLT396

complaint in that regard was sent to the Directorate of Revenue Intelligence. Communications were sent to Hon'ble the Finance Minister as well as to the Secretary, Delhi Administration, Delhi regarding denial of interview to an Advocate with … of the powers conferred by Section 3(1) of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 with a view to preventing him from smuggling goods and abetting the smuggling of goods. The petitioner challenges … Sir Ganga Ram Hospital where he was under medical treatment on April 12, 1985 and was served with the order of detention as well as

Commissioner of Income-tax Vs. Tamil Nadu Industrial Investment Corpn. ...

Court : Chennai

Subject : Direct Taxation

Reported in : [1999]107TAXMAN16(Mad)

in the case of financial corporations whose paid-up share capital did not exceed Rs. 3 crores. BY the Finance Act, 1974 and in the case of financial corporations of the type we are concerned, where the paid-up share capital … for earlier years was not available to make good the deficiency in subsequent year within the meaning of section 36(1)(viii) of the Income Tax Act, 1961 and therefore, the claim, should be allowed only to the extent

Andhra Pradesh State Financial Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (1986)18ITD515(Hyd.)

amendments-please see Finance Act, 1966, Finance (No. 2) Act 1967, Finance Act, 1970, Finance (No. 2) Act 1971, Finance Act, 1974, Finance Act, 1977, Finance Act, 1979, Finance Act, 1981 and lastly Finance Act, 1985 by which the crucial … for the sake of convenience.2. The first point in dispute is as regards the quantum of deduction under Section 36(1)(viii) of the Income-tax Act, 1961 ('the Act')- The assessee, Andhra Pradesh State Financial Corpn., is approved by … other words, it was 40/140. By a letter, F. No. 204/35/73-IT(A-II), dated 12-11-1973, the Board explained that this 40 per cent is to be worked

M/s.muthoot Leasing And Finance Ltd. Rep. By Its Managing Director Vs. ...

Court : Supreme Court of India

Subject : Direct Taxation

wherein in the context of levy of service tax by Section 65(105)(zm) read with section 65(12) of the Finance Act, 1994, as amended, banking and financial services were brought to tax. In the context of the said enactment, … Page 11 of 21 2(28-A), to observe that the expression used under the Act, that is the Interest-Tax Act, 1974, is much narrower and restricted. Under the Income Tax Act, 1961, interest can be payable in any manner

Ram Swarup Kaushal Vs. Union of India (Uoi) and anr.

Court : Allahabad

Subject : Direct Taxation

Acts : Constitution of India - Articles 14, 15 and 19(1); ;Finance Act, 1974; Hindu Gains of Learning Act, 1930; Hind Law; Income Tax Act

Reported in : [1983]139ITR887(All); [1981]6TAXMAN174(All)

to lay down rates for computing income-tax and surcharge which were uniformly applicable to all assessees. However, the Finance Act, 1974, laid down two different sets of rates mentioned in sub-para. I and sub-para. II of Pt. A to … association of persons or body of individuals, whether incorporated or not and every artificial person referred to in Section 2(31)(viii) of the Income-tax Act, sub-para. II laid down the rates applicable to an HUF which at any