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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 question

Commissioner of Income-tax Vs. Southern Petro Chemical Industries Corp ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 33 and 33(1); Finance Act, 1974 - Sections 16

Reported in : (1999)151CTR(Mad)188; [1998]233ITR391(Mad)

Section 33(1)(a) of the Act.9. The first appellate authority relied upon the provisions of Section 16 of the Finance Act, 1974. Before referring to Section 16 of the Finance Act, 1974, it is necessary to notice that the development

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 order

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 order

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 respect … 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

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 the

Commissioner of Income-tax Vs. Anglo India Jute Mills Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Rules, 1962; ;Finance Act, 1974 - Section 16; ;Income Tax Act, 1961 - Section 33

Reported in : [1993]202ITR104(Cal)

is common ground that this ancillary equipment was not ordered before December 1, 1973. Section 16 of the Finance Act, 1974, clearly provided that development rebate would not be admissible in the case of machinery or plant which is

Bhaskar B. Patil Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)44ITD65(Pune.)

by the expenditure incurred for earning it, because, as stated in the memorandum explaining the provisions of the Finance Bill, 1974, this amendment was brought only to simplify the assessment procedure of salaried taxpayers. Accordingly, the expenditure … employee of LIC and therefore, it was logical that in the computation of income the standard deduction under Section 16 of the Act should be allowed and there was also no provision for deduction of the expenditure incurred

income-tax Officer Vs. Rukmani Metal and Gaseous Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1982)1ITD816(Delhi)

no dispute that the assessee's claim for allowance of development rebate is based on Section 16(c) of the Finance Act, 1974, which is quoted below : 16. Continuance of development rebate in certain cases.-The notification of the Government of

income-tax Officer Vs. Oceanic Products Exporting Co.

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (1988)24ITD79(Coch.)

found that the freezing plant was installed on 27-3-1975 only and that according to section 16(c) of the Finance Act, 1974 development rebate on machinery and plant installed after 31-5-1974 but before 1-6-1975 is admissible only if the assessee