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The Indian Hotels Company Ltd. and Others Vs. the Income Tax Officer, ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80J(1), 80J(4), 80J(6), 32A, 33 and 256(2); Finance Act, 1979 - Sections 2(7); Central Sales Tax Act, 1956; Finance Act, 1968 - Sections 2(6); Finance Act, 1973 - Sections 2(7); Constitution of India - Article 139A

Reported in : AIR2000SC2645; [2000]245ITR538(SC); JT2000(9)SC139; 2000(5)SCALE475; (2000)7SCC39; [2000]Supp2SCR261

an article or thing specified in the list in the Eleventh Schedule. (Emphasis supplied)9, Chapter II of the Finance Act, 1979 provides for rates of income tax. Relevant part dealing with the Company is as under:2(7) For the purposes … ship, machinery or plant in respect of which the deduction by way of development rebate is allowable under Section 33; and (d) any machinery or plant, the whole of the actual cost of which is allowed as a

Jiyajeerao Cotton Mills Ltd. Vs. Income-tax Officer, c Ward and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80E and 154; ;Finance Act, 1965

Reported in : [1981]130ITR710(Cal)

that soda ash is one of the items mentioned in Part III of the First Schedule to the Finance Act, 1965, and the appellant was, therefore, entitled to a special rebate of 35 per cent. on the profits … for various allowances to be made in making such computation and Sections 33 and 34 are the provisions for allowance of development rebate in computing … claiming such rebate. 4. On or about the 27th February, 1970, respondent No. 1 completed the assessment under Section 143(3) of the I.T. Act, 1961, whereby the overall total income of the appellant was computed at Rs.

M/S.Malaysian Airlines. M/S.Saudi Arabian Airlines. and ors Vs. the Un ...

Court : Mumbai

Subject : Service Tax

Acts : Constitution Of India - Article 226

for the Revenue pressed into service the scheme of the Finance Act, 1979 in particular engrafted in sections 33 to 41. In their submission, subsection (1) of section 35 is a charging section and, inter alia; provides … under Article 226 of the Constitution of India are challenging imposition of penalty under section 38(3) of the Finance Act, 1979 ("Finance Act" or "Act" for short) for delay in payment of Foreign Travel Tax ("FTT" for short) to

Additional Commissioner of Income-tax Vs. Chowgule and Co. Pvt. Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 35, 35A, 36, 43, 43(1), 43A, 43A(1), 43A(2) and 263

Reported in : (1985)87BOMLR446; (1986)52CTR(Bom)224; [1986]159ITR12(Bom)

general provisions of the Act, like section 33. Mr. Dhanuka relied upon the Notes on Clauses of the Finance (No. 2) Bill, 1967, by which section 43A was introduced. Clause 17 deals with section 43A. In regard … the actual cost of an asset for the purpose of the deduction on account of development rebate under section 33.'8. Mr. Dhanuka, learned counsel for the Revenue, submitted that, inasmuch as the assessee had itself claimed the benefit

income-tax Officer Vs. Rukmani Metal and Gaseous Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1982)1ITD816(Delhi)

on 10-6-1975 and 12-6-1975 which was beyond the time limit of 31-5-1975 specified in Section 16(c) of the Finance Act, 1971. Shri Kapila submitted that though the other conditions specified in this provision might have been fulfilled by … inadvertently allowed on some of the plant and machinery purchased beyond the date till it was allowable under Section 33 of the Act. According to the ITO, the assessee would be entitled to development rebate on the cost

The Commissioner of Income-tax Delhi Ii Vs. the Punjab and Sind Bank L ...

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(15), 32(1), 33, 43(3), 80-J and 256(1)

Reported in : 2000VAD(Delhi)661; 86(2000)DLT438; 2000(54)DRJ370; [2000]244ITR393(Delhi)

apparatus installed in shop premises qualified as plant within the meaning of Section 40 and 41 of the Finance Act. 1971. the Revenue held it not to be plant. On the above decision being affirmed by the chancery … steel furniture, electrical fittings and cooling equipments are to be treated as plant and machinery us 32(1)(ii) and Section 33 for the purpose of grant of depreciation and development rebate respectively. 2. Whether on the facts and 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 … is the decision in the case of the assessee in T.C. No. 33 of 1975 (India Leather Corpn. (P) Ltd. (No. 3) v. CIT : … 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

Softek (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1990)32ITD540(Delhi)

rival submissions as also the facts on record. Section 32A was brought on the statute book by the Finance Act, 1976. Section 32A replaced the scheme of initial depreciation allowance by a scheme of in vestment allowance. The … 259 dated 11-7-1979 regarding the creation of statutory reserve in connection with the claim of development rebate under Section 33 may be followed while considering the adequacy of the reserve created in respect of grant of investment allowance

Handicrafts and Handloom Export Corporation of India Vs. Commissioner ...

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 35B, 35B(1) and (2) and 80B

Reported in : (1982)29CTR(Del)185; [1983]140ITR532(Delhi)

facilities by domestic companies and other persons who are resident in India. This section was inserted by the finance Act, 1968, with effect from April 1, 1968. There were subsequent amendment (other than the insertion of the provisos … whole of the expenditure of the nature described in clause (b) of the section but also an additional 33-1/3% of that expenditure. In fact by a proviso to sub-s. (1)(a) inserted by the Direct Taxes (Amendment) Act,

Commissioner of Income-tax Vs. Karam Chand Thapar and Bros. (P.) Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 13A and 30; ;Income Tax Act, 1961 - Sections 139(1), 215, 215(3), 216 and 246; ;Income Tax Rules, 1922 - Rules 18A(6) and 48; ;Income Tax Rules, 1962 - Rule 40

Reported in : [1979]119ITR751(Cal)

Matched in: Citation [1979]119ITR751(Cal)