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South Indian Bank Ltd. Vs. Cit

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]130TAXMAN749(Ker)

provisions for bad and doubtful debts account. Clause (viia) which was inserted with effect from 1-4-1980 by the Finance Act, 1979 provided for a deduction in respect of any provision for bad and doubtful debts made by a Scheduled … not exceeding ten per cent of the total income computed before making any deduction under this clause and Chapter VIA and an amount not exceeding two per cent of the aggregate average advances made by the rural

South Indian Bank Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1985; Income Tax Act, 1961 - Sections 36, 36(1) and 36(2)

Reported in : (2003)183CTR(Ker)21; [2003]262ITR579(Ker)

bad and doubtful debts account. Clause (viia) which was inserted with effect from April 1, 1980, by the Finance Act, 1979, provided for a deduction in respect of any provision for bad and doubtful debts made by a scheduled … not exceeding ten per cent, of the total income (computed before making any deduction under this clause and Chapter VI-A) or an amount not exceeding two per cent, of the aggregate average advances made by the rural

Dhanalakshmi Bank Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : 2003(3)KLT177

provisions for bad and doubtful debts account. Clause (viia) which was inserted with effect from 1.4.1980 by the Finance Act, 1979 provided for a deduction in respect of any provision for bad and doubtful debts made by a Scheduled … not exceeding ten per cent of the total income computed before making any deduction under this clause and Chapter VIA or an amount not exceeding two per cent of the aggregate average advances made by the rural

Commissioner of Income-tax Vs. Export India Corporation (P.) Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 269C, 269D, 269F, 269H and 269UD; Finance Act, 1986

Reported in : (1996)133CTR(P& H)224; [1996]219ITR461(P& H)

immovable property after September 30, 1986, and a new Chapter XX-C was introduced in the Act by the Finance Act, 1986, with effect from October 1, 1986. Section 266RR provides that Chapter XX-A will not apply in relation … appeal filed by the transferee against the acquisition order passed by the Competent Authority, Rohtak, on March 51, 1979, has been set aside.2. In pursuance of an agreement of sale dated March 25, 1975, Raja Mechanical Company

Mitsui and Company Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

by inserting an explanation in s. 9(ii) of the IT Act, 1961, w.e.f. 1st April, 1979 by the Finance Act, 1983 [140 ITR (St) 116], it is clarified and declared that the income which falls under the head … tax or any part of the tax as required to be deducted by or under the provisions of Chapter VII-B, the liability to penalty arises unless such failure is proved to be for a reasonable cause as … 1. These are the appeals preferred by the assessees against the common order

Mitsui and Company Ltd. Vs. Deputy Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Reported in : (1999)65TTJ(Del)1

Explanationn in section 9(ii) of the Income Tax Act, 1961, with effect from 1st April, 1979 by the Finance Act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services … tax or any part of the tax as required to be deducted by or under the provisions of Chapter XVII-B, the liability to penalty arises unless such failure is proved to be for a reasonable cause as … against the common order of the Commissioner (Appeals) for the financial years 1989-90 to 1994-95 confirming the penalties levied under section 271C of the Income

Commissioner of Income-tax Vs. Industrial Promotion and Investment Cor ...

Court : Orissa

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : (1992)103CTR(Ori)222; [1993]199ITR761(Orissa)

the Finance Act, 1974, with effect from April 1, 1975. There have been substitutions and insertions by the Finance Act, 1979, with effect from April 1, 1980 ; the Finance Act, 1981, with effect from April 1, 1982. The … the deduction was to be of the specified percentage of the total income before making any deduction under Chapter VI-A of the Act, as reduced by the deduction allowable under that section, i.e., under Section 36(1)(viii). In

India Leather Corporation (P.) Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1970 - Sections 2(6); Income Tax Act, 1961 - Sections 80E, 147 and 256(1)

Reported in : (1989)77CTR(Mad)18; [1989]179ITR170(Mad)

the assessee-company was not an industrial company within the meaning of clause 2(6)(c) of Chapter II of the Finance Act, 1970 ?' 2. The assessee is a private limited company and the assessment year we are concerned with … Ratnam, J.1. At the instance of the assessee under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), the following question has been referred for the opinion of this court

H. Jahangir Bhatusha Vs. Union of India (Uoi) and anr.

Court : Delhi

Subject : Customs

Acts : Customs Act, 1962 - Sections 12, 25, 25(1) and 25(2); Collection of Taxes Act, 1931; Customs Tariff Act, 1975 - Sections 1, 2 and 3; Contract Act - Sections 56; Import and Export Central Act, 1947; Constitution of India - Articles 14, 19(1), 19(6) and 226

Reported in : 1984(15)ELT106(Del)

25 of the Customs Act, 1962 (52 of 1962) read with subsection (4) of clause 31 of the Finance Bill, 1979, which clause has by virtue of the declaration made in the said Bill under the provisional … of three lakh tonnes of soybean oil, sunflower oil, rapeseed oil, palm oil and palm oleine falling within Chapter 15 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and to be imported … V.S. Deshpande, C.J.1. Under Section 25 of the Customs Act, 1962 (the Act)-'(1) If the Central Government is satisfied that it is necessary

Khoday Industries Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1994)51ITD18(Bang.)

[1978] 114 ITR 822 has held as follows: (iii) In defining 'industrial company' in Section 2(7)(d) of the Finance Act of 1966, Parliament has used the words 'mainly engaged in the business of. This does not mean that … aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VI-A of the Income-tax Act) is not less than fifty-one per cent of such total income; The position … plant and machineries to a sister concern some time in the year 1976-77. However, the assessee still retained for itself a bottling unit at Pondicherry