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Commissioner of Income-tax Vs. Lakshmi Industries (P.) Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1977 - Sections 2(7); Finance Act, 1978 - Sections 2(7)

Reported in : [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.

Commissioner of Income Tax Vs. Hydle Constructions Pvt. Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : 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)

Reported in : [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

G.A. Renderian Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Subject : Direct Taxation

Acts : Finance Act, 1978 - Section 2(7); ;Income Tax Act, 1961

Reported in : (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

Commissioner of Income-tax Vs. Beehive Engineering Co. and Allied Indu ...

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 28 and 80HH

Reported in : (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

D.D. Shah and Brothers Vs. Union of India (Uoi) and anr.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1A), 10(1), 35B(1A), 80IA, 80IA(4), 80IA(5), 80IA(6), 80IB, 80IB(2), 80IB(4), 80HH and 80HH(2); Rajasthan Sales-tax Act, 1954; Finance Act, 1999; Finance Act, 1961; Kerala General Sales tax Act, 1963; Central Sales-tax Act, 1956 - Sections 8(1), 8(3) and 8(3)(1); Central Sales-tax Rules - Rule 13; Tea Act, 1953 - Sections 3, 4 and 16A; Uttar Pradesh Sales-tax Act; Karnataka Sales Tax Act, 1957; Central Excise Act; Madhya Pradesh General Sales-tax Act, 1958 - Sections 2; Finance Act, 1978 - Sections 2(7); Finance Act, 1966 - Sections 2(5); Finance Act, 1967

Reported in : (2005)197CTR(Raj)1; [2006]283ITR486(Raj); 2004(3)WLC425

the Court was considering the merit of the expression 'industrial company' as used in Section 2(7)(c) of the Finance Act, 1978. Under the Finance Act, 1978, 'industrial company' was defined to mean a company which is mainly engaged in

Chandi Ram and ors. Vs. Commissioner of Income Tax

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2008)217CTR(P& H)113; [2009]312ITR139(P& H)

In order to remedy those difficulties, Sub-section (7A) of Section 155 of the Act was introduced by the Finance Act, 1978, with retrospective effect from 1st April, 1974. However, the said amendment also did not serve the purpose and … & Land Development Trust Ltd. : [1986]161ITR524(SC) no longer holds the field ?The IT Appeal Nos. 4 to 7 of 2005 were admitted on 10th Aug., 2006, to be heard with IT Appeal No. 322 of 2004,

The Central India Electric Supply Co. Ltd. Vs. Income Tax Officer, Com ...

Court : Delhi

Subject : Income Tax

Acts : Income-tax Act - Section 148; Finance Act, 1978 - Section 155(7)(a)

case of the assessee company was not covered under Section 155(7)(a) as the same was inserted by the Finance Act, 1978 with retrospective effect from 01.04.1974.9. The appellant-assessee company being aggrieved by the order of the CIT(A) preferred an

Commissioner of Income Tax, Kerala Vs. Tara Agencies

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 35B(1A), 35(1)(B) and 801B; Finance Act, 1978 - Sections 2(7), 32A, 35B(1A), 35B(2), 80MM and 80MM(2); Marine Products Export Development Authority Act, 1972 - Sections 3(1); State Financial Corporation Act, 1951 - Sections 2(C); Bombay Sales Tax Act, 1953 - Sections 7 and 8; Kerala General Sales Tax Act, 1963 - Sections 5A(1); Central Sales Tax Act, 1956 - Sections 8(3); Central Sales Tax Rules - Rule 13; Central Excise Act, 1944 - Sections 2

Reported in : (2007)210CTR(SC)454; 2007(214)ELT491(SC); [2007]292ITR444(SC); JT2007(9)SC65; 2007(3)KLT624(SC); 2007(9)SCALE100; (2007)6SCC429

the controversy involved in this case, it would be proper to reproduce Section 35B(1A)&(2) as introduced by the Finance Act, 1978:(1A) Notwithstanding anything contained in Sub-section (1), no deduction under this section shall be allowed in relation to any … under:Section 8 of the Bombay Sales Tax Act, 1953, so far as is 'subject to the provisions of Section 7, there shall be levied a sales tax on the turnover of sales of goods specified in column I

Peekay Re-rolling Mills (P) Ltd. Vs. Assistant Commissioner (Assessmen ...

Court : Kerala

Subject : Sales Tax

Acts : Kerala General Sales Tax Act - Sections 4, 5(1), 5(1)(1), 5A, 10 and 19(1); Central Sales Tax Act, 1956 - Sections 5, 5A, 14 and 15; Constitution of India - Articles 286, 286(2) and 286(3); Tamil Nadu General Sales Tax Act - Sections 7; Finance Act, 1978 - Sections 37; Central Excises Act, 1944

Reported in : 2006(2)KLT687; (2007)5VST241(Ker)

and Ors. v. Vazir Sultan Tobacco Co. Limited, Hyderabad and Ors. : 1996(83)ELT3(SC) . Section 37 of the Finance Act, 1978 provided for levy of special duty of excise in addition to the existing excise duties. The Tribunal upheld … and sells, he is effectively the first seller liable for tax. This may be earlier purchase tax under Section 7-A of the Tamil Nadu General Sales Tax Act on this further sale depending on what that purchaser is

Assistant Collector of Customs (imports) Vs. Sundaram Textiles

Court : Chennai

Subject : Customs

Acts : Customs Tariff Act, 1975

Reported in : 1990(25)ECC392; 1989(25)LC470(Madras); 1989(44)ELT464(Mad)

Customs Tariff Act, 1975, and an auxiliary duty of 20 per cent leviable under Section 32(1) of the finance Act 1976, together with an additional duty leviable under Section 3 of the Customs Tariff Act 1976. However, by … steamer Clan Magnair from Middleborough Port (U.K.) to Madras. The ship entered the territorial waters of India on 7-12-1978, and berthed at North Quay on 4-1-1979. The bill of entry had already been prepared on 8-12-1979, and