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Commissioner of Income Tax Vs. Sri Rajendra Mills Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1), 37, 40A, 40A(7), 155 and 155(13); Payment of Gratuity Act, 1972; Finance Act, 1975

Reported in : [1996]219ITR684(Mad)

matter of allowing deduction with regard to the provision made for gratuity liability for the earlier years, the Finance Act, 1975, has inserted a new sub-s. (7) in s. 40A, which provides that no deduction will be allowed in … with by assessee - claim made by assessee allowed under Section 40A (7) - allowability of claim under Section 36 (1) (v) need not to be considered - assessee entitled to deduction of entire gratuity amount including initial

Commissioner of Income-tax Vs. G.T.N. Textiles Limited

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1) and 40A(7); Finance Act, 1975

Reported in : (1985)44CTR(Ker)62; [1985]155ITR5(Ker)

of deduction. The provisions of Sub-section (7) of Section 40A of the I.T. Act, as amended by the Finance Act, 1975, with effect from April 1, 1973, relied on by the Tribunal, the Revenue points out, do not enable … is that the prohibition under Clause (a) shall not apply to a provision made in terms of Section 36(1)(v). The second limb of that Sub-clause in effect provides that the provision made during the 'previous year' shall

Commissioner of Income-tax Vs. Andhra Prabha P. Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 36(1), 37(2) and 40A(7); Working Journalists (Conditions of Service and Miscellaneous Provisions) Act, 1955; Finance Act, 1975

Reported in : (1980)14CTR(Mad)269; [1980]123ITR760(Mad)

employees under an irrevocable trust,' 7. Subsequently, a new provision, Section 40A(7), came to be introduced by the Finance Act, 1975, with effect from 1st of April, 1973. The new provision stated :'(a) Subject to the provisions of Clause … already.6. At the relevant time, the only provision that related to the allowance of gratuity was contained in Section 36(1)(v) of the Act. The provision, in so far as it is relevant, ran as follows:'36. (1) The deductions

Commissioner of Income-tax Vs. Bakelite Hylam Ltd.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30, 31, 32, 33, 34, 35, 36, 36(1), 37, 37(1), 38, 39, 40, 40A, 40A(7), 40A(8) and 80V

Reported in : (1995)127CTR(AP)46; [1996]217ITR469(AP)

'previous year' shall be governed by the law as it stood prior to the amendment introduced by the Finance Act, 1975, with effect from April 1, 1973. This means that deduction on the basis of a provision made in … Income-tax Appellate Tribunal, Hyderabad Bench 'B', has referred the questions mentioned hereunder to this court for opinion under section 256(1) of the Income-tax Act, 1961, vide its order dated January 23, 1986, passed in R. A. Nos. … actually paid towards recognised gratuity fund, the same is allowable under section 36(1)(v) of the Act and if such gratuity is towards liability of the

Smt. P. Balammal, Karur Vs. the Controller of Estate Duty, Madras

Court : Chennai

Subject : Other Taxes

Acts : Estate Duty Act, 1953 - Sections 36 and 44; Voluntary Disclosure of Income and Wealth Act, 1976; Income Tax Act, 1922; Income Tax Act 1961; Finance Act 1965 - Sections 68; Wealth Ordinance Act, 1975

Reported in : (2004)189CTR(Mad)147

principles in Section 68 of the Finance Act, 1965 and the Voluntary Disclosure of Income and Wealth Ordinance Act, 1975 in spite of certain dissimilarities, but the objects of both the schemes are to encourage disclosure of concealed … mean that he was not liable to pay tax. The Court also held that Section 68 of the Finance Act 1965 under which the declaration was made prescribed the procedure for assessment of the concealed income but the … dealt with the deductibility of estate duty paid in determining the principal value of the estate either under Section 36 or 44 of the Act. The Supreme Court held that the amount of estate duty paid is not

Jeep Flashlight Industries Ltd. Vs. Union of India (Uoi) and ors.

Court : Allahabad

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 36; Finance Act, 1975; Indian Tariff Act, 1934 - Sections 2A; Industries (Development and Regulation) Act, 1951; Central Provinces and Berar Sales Tax Act; ;Central Excise Rules - Rule 8(1); Constitution of India - Articles 15A(2), 226

Reported in : 1985(19)ELT68(All)

to it, authorised it to manufacture brass and aluminium torches as well.3. Prior to the enforcement of the Finance Act of the year 1975, the position was that whereas excise duty was payable on the manufacture of articles … validity of order No. 13/66 of 1978 dated 26th December, 1978 passed by the Government of India under Section 36 of the Central Excises and Salt Act, 1944 rejecting the revision application of the petitioner filed against the

Commissioner of Income-tax Vs. Ghaziabad Engineering Co. (P.) Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 36, 36(1), 37, 37(1), 40A, 40A(7), 47 and 256(1); Payment of Gratuity Act, 1972; Finance Act, 1975; Registration Act, 1908 - Sections 47

Reported in : (2001)169CTR(Del)74; [2001]249ITR244(Delhi)

that the assessment year involved is prior to the introduction of Section 40A(7) of the Act by the Finance Act, 1975, with retrospective effect from April 1, 1973. That being the position, the Tribunal was justified in holding that … Inspecting Assistant Commissioner ('the IAC' in short), held that the claim of gratuity was not allowable as Section 36(1)(v) of the Act, which related to approved gratuity fund, had no application to the facts of the case

Commissioner of Income-tax Vs. Sanghi Oxygen Co.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 36, 37, 40A and 40A(7); Finance Act, 1975

Reported in : [1993]203ITR784(Raj)

the provisions of Section 40A(7). The Income-taxAppellate Tribunal has ignored the amendment made by Section 6 of the Finance Act, 1975, with retrospective effect from April 1, 1973. It was further submitted that, when there is a specific provision, … claim was not allowed by the Income-tax Officer on the ground that the conditions laid down in Section 36(1)(v) and Section 40A(7)(a) were not satisfied. Since this amount was not debited in the profit and loss account,

State of Kerala vs M/S. Cadbury India Ltd

Court : Kerala

the rate of 12.5% during the relevant assessment year in view of the amendments made as per Kerala Finance Act 2007 in Entry 36 in Schedule III and issuance of SRO NO.119/2008?3. Is the Clarification order No. C7-after … with an HSN Code, the commodity should be given the same meaning as given in the Customs Tariff Act 1975. Section 6(1)(d)also is pointed out to argue that only goods which do not fall under clauses (a) or (c)

State of Kerala, vs M/S.Cadbury India Ltd.,

Court : Kerala

the rate of 12.5% during the relevant assessment year in view of the amendments made as per Kerala Finance Act 2007 in Entry 36 in Schedule III and issuance of SRO NO.119/2008?3. Is the Clarification order No. C7-after … with an HSN Code, the commodity should be given the same meaning as given in the Customs Tariff Act 1975. Section 6(1)(d)also is pointed out to argue that only goods which do not fall under clauses (a) or (c)