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Commissioner of Income-tax Vs. Lakshmi Industries (P.) Ltd.
Chennai
Jan-19-1996
Direct Taxation
Finance (No. 2) Act, 1977 - Sections 2(7); Finance Act, 1978 - Sections 2(7)
[1996]222ITR36(Mad)
So also for the assessment year 1978-79, the assessee claimed the same benefit under Section 2(7)(c) of the Finance Act, 1978. However, the Income-tax Officer denied this concession on the ground that the assessee is not an industrial company.
Tag this Judgment! AI Brief & AskCommissioner of Income Tax Vs. Hydle Constructions Pvt. Ltd.
Delhi
Sep-26-2002
Direct Taxation
Income Tax Act, 1961 - Sections 15C, 32A, 32A(2), 33(1), 33B, 80HH, 80HHA, 80HHA(1), 80J, 80J(4), 84, 84(2), 84(7), 256 and 256(1); Indian Companies Act; Finance Act, 1978 - Sections 2(7)
[2003]259ITR344(Delhi)
[1998]229ITR503(AP) followed the aforesaid decision ofBeehive Engineering Co.'s case (Supra) stating:-'For the purposes of Section 2(7)(c) of the Finance Act, 1978,a Division Bench of this court, of which one of us, i.e., Syed Shah Mohd. Quadri, J., was a
Tag this Judgment! AI Brief & AskModi Rubber Ltd. Vs. Union of India and Others Overruled
Delhi
Aug-06-1982
Excise
Central Excise Rules, 1944 - Rules 2, 8, 8(1), 56A, 173, 173B and G; Central Excise Act, 1944 - Sections 2, 3, 6, 8(1), 12, 37 and 37(2); Finance Act, 1978 - Sections 37 and 37(4)
1984(2)ECC30; 1983(12)ELT24(Del)
Finance Bill, 1978 levied this special duty of excise and was presented and passed by the Parliament as Finance Act, 1978. Section 37 of the Finance Act, 1978 provides that in case of goods chargeable with duty of excise under … to central duties of excise on goods manufactured or produced in certain parts of India and to salt. Section 2(f) defines manufacture and includes any process incidental or ancillary to the completion of a manufactured product. Section 3
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Gopal Hosiery Vs. Assistant Collector of C. Ex.
Kolkata
Apr-08-1988
Excise
Central Excise Act, 1944 - Sections 2, 3, 11B and 37; ;Finance Act, 1971; ;Medicinal and Toilet Preparations (Excise Duties) Act, 1955 - Section 2; ;Factories Act, 1948 - Section 2; ;Finance Act, 1975; ;Finance Act, 1977; ;Finance Act, 1978; ;Finance Act, 1979; ;Finance Act (No. 2), 1980; ;Central Excise Tariff Act, 1985 - Sections 2(3) and 6; ;Central Excise Rules, 1944 - Rules 8, 8(1) and 174
1989(41)ELT35(Cal)
which was thereafter increased to 2% by the Finance Act, 1977, and then increased to 5% by the Finance Act, 1978 and finally increased to 8% by the Finance Act, 1979. It has been stated by the petitioners that … power were expressly excluded from taxability under tariff item No. 22D.5. The contention of the petitioner is that Section 3 which is the charging Section of the Central Excises and Salt Act, 1944, provides for levy and
Tag this Judgment! AI Brief & AskG.A. Renderian Ltd. Vs. Commissioner of Income-tax
Kolkata
Aug-03-1982
Direct Taxation
Finance Act, 1978 - Section 2(7); ;Income Tax Act, 1961
(1983)32CTR(Cal)318,[1984]145ITR387(Cal)
the circumstances of the case, the assessee is an 'industrial company' in terms of Clause 2(7)(c) of the Finance Act, 1978?'2. The assessment year involved is 1978-79, for which the previous year ended 30th April, 1978. The assessee in … Sabyasachi Mukharji, J. 1. This is a reference under Section 256(1) of the I.T. Act, 1961. The Tribunal has referred the following question to this court:'Whether, on the
Tag this Judgment! AI Brief & AskCollector of Central Excise, Hyderabad Etc. Etc. Vs. M/S. Vazir Sultan ...
Supreme Court of India
Feb-28-1996
Excise
Finance Act, 1978 - Sections 37 (1); Central Excises and Salt Act, 1944 - Sections 2, 3 and 12B; General Clauses Act, 1897 - Sections 6; Central Excise Rules, 1944 - Rules 9(A) and 56A; Central Excises and Customs Law (Amendment) Act, 1991
1996IIAD(SC)580; AIR1996SC3025; 1996(54)ECC94; 1996(83)ELT3(SC); JT1996(3)SC112; 1996(2)SCALE603; (1996)3SCC434; [1996]2SCR1194
ORDERB.P. Jeevan Reddy, J.1. Sub-section (1) of Section 37 of the Finance Act, 1978, levied a special duty of excise equal to five percent of the amount of excise duty chargeable on … at the rates, set forth in the First Schedule.7. The expression 'prescribed' is defined in Clause (g) of Section 2 to mean prescribed by Rules made under the Act.8. It is evident that the words 'in such manner
Tag this Judgment! AI Brief & AskThe Commissioner of Income Tax Vs. Smt. Amarjeet Kaur and ors.
Karnataka
Jan-31-2006
Direct Taxation
Income Tax Act, 1922 - Sections 10(2); Income Tax Act, 1961 - Sections 37, 37(1) and 256(1); ;Finance Act, 1998; ;Prize Chits and Money Circulation Scheme (Banning) Act, 1978 - Sections 2, 3 and 4
(2006)201CTR(Kar)134; ILR2006KAR1060; [2006]283ITR71(KAR); [2006]283ITR71(Karn)
again incorrect. The appellant needed money for expanding the turnover; the appellant had several methods of obtaining this finance eg. From borrowals etc. The appellant however chose to obtain deposits and to lure these deposits, offered the … a 'Prize Chit' for the purpose of Section 2(e) of the Prize Chits and Money Circulation Scheme (Banning) Act, 1978.14. In our view, the case law which is nearer to the issue which has fallen for our consideration,
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Beehive Engineering Co. and Allied Indu ...
Andhra Pradesh
Feb-13-1995
Direct Taxation
Income Tax Act, 1961- Sections 28 and 80HH
(1996)136CTR(AP)321; [1996]221ITR561(AP)
orders of the Tribunal. Before we construe the definition of the 'industrial company' in section 2(7)(c) of the Finance Act, 1978, it would be useful to notice the findings of fact recorded by the Tribunal. 6. From the order
Tag this Judgment! AI Brief & AskShri Bhagwandas JaIn Vs. Addl. Commissioner of Wealth-tax
Madhya Pradesh
Apr-15-1978
Direct Taxation
Wealth Tax Act, 1957 - Sections 2 and 3; Indian Income Tax Act, 1922 - Sections 3; Income Tax Act, 1961 - Sections 4; Finance Act, 1965 - Sections 68
[1979]116ITR347(MP)
Tribunal was right in holding that neither the tax liability at the rate applicable in accordance with the Finance Act of the year concerned on the disclosed income included on assessment nor at the rate of 60% prescribed … v. Addl. CWT), as they involve a common question of law. These eight references under Sub-section (1) of Section 27 of the W.T. Act, 1957, are by the Income-tax Appellate Tribunal, Jabalpur Bench, Jabalpur, at the instance … common question of law. These eight references under Sub-section (1) of Section 27 of the W.T. Act, 1957, are by the Income-tax Appellate Tribunal, Jabalpur
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Tara Agencies Overruled
Kerala
Jan-18-2000
Direct Taxation
Income Tax Act, 1961 - Sections 35B, 35B(1A), 139, 139(8), 143, 147 and 215; Finance Act, 1978
(2000)159CTR(Ker)325; [2000]243ITR336(Ker)
expenditure incurred in connection with the exports in view of the provisions of Section 35B(1A) introduced by the Finance Act, 1978. The Commissioner of Income-tax (Appeals) upheld the claim of the assessee for weighted deduction on the ground that … and Exports, Government of India ; (c) 'provision of technical know-how' has the meaning assigned to it in Sub-section (2) of Section 80MM ; (d) 'small-scale industrial undertaking' has the meaning assigned to it in Clause (2) of
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