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Commissioner of Income-tax Vs. Continental Device India

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 143(3), 144B and 256(1); Finance Act, 1976 - Sections 2(6) and 2(8); Finance Act, 1978

Reported in : [2001]252ITR227(Delhi); [2001]118TAXMAN585(Delhi)

the IDBI in lieu of surcharge in accordance with the provisions of Section 2(6) and (8) of the Finance Act, 1976, although for the assessment year 1978-79 tax was to be paid in accordance with the provisions of the

Commissioner of Income-tax Vs. Boots Company (i.) Limited

Court : Mumbai

Subject : Direct Taxation

Acts : Companies (Profits) Surtax Act, 1964 - Schedule - Rules 1 and 4; Finance Act, 1976 - Sections 2 and 2(8); Income Tax Act - Sections 80J

Reported in : (1994)120CTR(Bom)85; [1995]214ITR175(Bom)

that the assessee availed of the option given to it under Sub-section (8) of Section 2 of the Finance Act, 1976, and deposited the amount with the Industrial Development Bank of India ('IDBI') as contemplated therein in lieu of

Ambica Mills Ltd. Vs. Commissioner of Surtax

Court : Gujarat

Subject : Direct Taxation

Acts : Companies (Profits) Surtax Act, 1964 - Sections 13 and 18 - Schedule - Rule 2; Finance Act, 1976 - Sections 2(8)

Reported in : (1994)118CTR(Guj)466; [1994]206ITR699(Guj)

under the Companies Deposits (Surcharge on Income-tax) Scheme, 1976. As per the provisions of section 2(8) of the Finance Act, 1976, the surcharge on income-tax payable by the company in a case where the amount of deposit made with

K.V. Abdulla Vs. Income-tax Officer and anr.

Court : Karnataka

Subject : Direct Taxation

Acts : Finance Act, 1976 - Sections 2(2); Constitution of India - Articles 14 and 19

has his year of accounting ending on 31st of March every year. For the assessment year 1976-77, the Finance Act, 1976 ('the Finance Act'), was applicable to the petitioner and he filed his return declaring his income from his … can only be levied under the Act on the total income other than 'agricultural income' and Parliament by section 2 of the Finance Act is really levying tax on agricultural income of the assessee and as the agricultural

Widia (India) Ltd. Vs. Commissioner of Income-tax

Court : Karnataka

Subject : Direct Taxation

Acts : Companies (Profits) Surtax Act, 1964 - Sections 2(5) - Schedule - Rules 1, 2 and 2(1); Finance Act, 1976 - Sections 2(6) and 2(8)

Reported in : (1991)98CTR(Kar)114; [1992]194ITR77(KAR); [1992]194ITR77(Karn)

Surtax Act, 1964 ('the Act' for short), deposited the equivalent amount with prepared under the provision of the Finance Act, 1976. The assessee required this deposit to be treated as payment of surcharge for the purpose of computing the … provisions of the Finance Act, 1976, read with a scheme framed thereunder. As per the second proviso to section 2(6) of the Finance Act, 1976, an assessee, being a company, may in lieu of payment of surcharge on

Hind Nippon Rural Industries Pvt. Ltd. (No. 1) Vs. Commissioner of Inc ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 256(2); Finance Act, 1976 - Sections 2(9)

Reported in : [1993]201ITR581(KAR); [1993]201ITR581(Karn)

the assessee is not an industrial company with in the meaning of section 2 (9) (c) of the Finance Act, 1976 ?' 2. The relevant assessment year is 1976-77. According to the assessee it is a company which carries

The Commissioner of Income-tax Vs. Balaji Hotels and Enterprises Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 23A, 80IA, 80IA(2), 143(1), 143(2), 143(3) and 260A; Central Excises Act; Finance Act, 1976 - Sections 2 and 2(9)

Reported in : [2009]311ITR389(Mad)

of goods within the meaning of the definition of 'industrial company' as contained in Section 2 of the Finance Act, 1976, or not. After considering the arguments, the Bombay High Court held as follows:On a careful perusal of the

K.V. Abdulla Vs. Income Tax Officer and anr.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961; Finance Act, 1976 - Sections 2 and 2(2); Constitution of India - Articles 14 and 19

Reported in : [1986]161ITR589(KAR); [1986]161ITR589(Karn)

Year 1976 to give effect to the financial proposals of the Central Government for the financial year 1976-77. section 2 of the Finance Art which is relevant for our purpose reads thus : '2(1) Subject to the provisions … has his year of accounting ending on 31st of March every year. For the asst. yr. 1976-77 the Finance Act, 1976 (Finance Act), was applicable to the petitioner and he filed his return declaring his income from his business

Shri Ramlinga Mills Private Ltd. and ors. Vs. Assistant Collector of C ...

Court : Kerala

Subject : Customs

Acts : Customs Tariff Act, 1975; Finance Act, 1976 - Sections 32(1); Customs Act, 1962 - Sections 2(11), 2(12), 2(13) 2(23), 2(27), 2(28), 7, 12, 15, 15(1) 25, 30, 46, 68 and 111; Indian Tariff Act, 1934 - Sections 2A; Territorial Waters, Continental Shelf, exclusive Economic Zone and other Maritime Zones Act, 1976 - Sections 5; Customs Act, 1878 - Sections 20(2); Constitution of India - Article 246

Reported in : 1989(22)LC36(Kerala); 1983(12)ELT65(Ker)

is subjected to duty under various fiscal measures. The Customs Tariff Act, 1975 (Act 51 of 1975), the Finance Act of 1976 are some of the relevant enactments. The levy is made, assessed and collected under the provisions … the import of the goods into India. And when does 'import' take place Look at the definition of Section 2(23) of the Customs Act, where that term is defined as 'bringing into India from a place outside India'.

T.R.F. Limited Vs. Commissioner of Income Tax

Court : Jharkhand

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1977 - Sections 2(7); Finance Act, 1976 (66 of 1976) - Sections 32A(2A); Indian Income Tax Act, 1922 - Sections 10(2); Income Tax Act, 1961 - Sections 32, 32A, 32A(1), 32(1), 32(1)(2) 32A(2), 33, 33A, 33(1), 43(3), 256(1) and 256(2)

Reported in : (2007)213CTR(Jharkhand)557; [2008]298ITR78(Jharkhand); [2006(4)JCR21(Jhr)]

before the income-tax authorities or the Tribunal.12. Section 32A of the Income Tax Act was inserted by the Finance Act, 1976 (66 of 1976) with effect from 1st April, 1976 i.e. for and from assessment year 1976-77. Sub-section (1) … ORDERM.Y. Eqbal, J.1. At the instance of the Assessee, on an application filed under Section 256(2) of the Income Tax Act, 1961 the Income Tax Appellate Tribunal, Patna Bench, Patna, has referred the following