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Commissioner of Income Tax Vs. Sundeep Construction (P) Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Finance Act, 1982 - Sections 2(7)

Reported in : (2004)189CTR(Guj)440; [2004]269ITR343(Guj)

law in holding that the assessee is an industrial company within the meaning of Section 2(7)(c) of the Finance Act, 1982 and hence entitled to the benefit claimed ?'2. We have heard Mr. Manish R. Bhatt, learned standing counsel

Dharmodayam Company Vs. Union of India (Uoi)

Court : Kerala

Subject : Civil

Acts : Kerala Chitties Act, 1975 - Sections 2(4), 3, 3(1), 3(2), 4, 4(1), 5, 6, 6(3), 11, 12, 13, 14, 15, 17, 18, 19, 21, 22, 23, 24, 25, 26, 29, 34, 35, 39, 40, 42, 43, 55, 56, 59, 60, 67, 72, 89 and 220; Kerala Finance Act, 2002; Chit Funds Act, 1982 - Sections 1(3), 2, 4(1), 7(3), 8, 9(1), 20 and 90; Constitution of India - Articles 14, 19(1), 226, 245 to 255; Companies Act; Finance Act, 2002 - Sections 3(5) and 4; Kerala Chittis (Amendment) Act, 2002

Reported in : AIR2005Ker253; [2005]126CompCas586(Ker); 2005(3)KLT332

constitutional validity of Sub-section 1(a) to Section 4 of the Kerala Chitties Act, 1975 introduced by the Kerala Finance Act, 2002 (Act 7 of 2002) with effect from 1.4.2002 as beyond the legislative competence of the State Legislature … be read in isolation. The same has to be read along with Section 1(3) of the Chit Funds Act, 1982. Section 1(3) of the Act states that the Chit Funds Act, 1982 shall come into force on such date

Bezbaruah Tea Co. (P.) Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

Subject : Direct Taxation

Acts : Finance Act, 1982 - Sections 2(7); Income Tax Act, 1961 - Sections 2(45), 5 and 10

from the total income can be regarded as total income for the purpose of Section 2(7)(c) of the Finance Act, 1982. Section 10 in Chapter III of the Income-tax Act, 1961, gives a list of incomes which cannot be included

S.P. Jaiswal Estates Pvt. Ltd. Vs. Commissioner of Income-tax (No. 1)

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 32A and 32A(2); ;Finance Act, 1982 - Section 2(7)

Reported in : [1994]209ITR298(Cal)

should be charged to tax at 60 per cent. which is applicable to an industrial company under the Finance Act, 1982. At the outset, we would like to mention that this court has considered the case of the assessee-company … convenience.6. Meaning of industrial company under Explanation to Section 2(7)(d):'1. Under Sub-section 7(d) of Section 2 of the Finance Act, 1966, an 'industrial company' means … Ajit K. Sengupta, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, made at the instance of the assessee, the following questions have been

Manjushree Extrusions Ltd. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax

Acts : Assam Sales Tax Act, 1993 - Sections 9 and 9(4); Constitution of India - Articles 14 and 19(1)

Assam (Sales of Petroleum and Petroleum Products including Motor Spirit and Lubricants) Taxation Act, 1955 or the Assam Finance (Sales Tax) Act, 1956 in respect of its sales to the holder of the goods specified in Table … recounted the industrial policy of the State Government commencing from the year 1982 which provided for incentives to the new industries established within the State … not entitled to take away the vested or accrued rights. Learned Senior Counsel Mr. Goswami, after referring to Section 7 of the Assam Sales Tax Act, 1947 pointed out that the State Government conferred full exemption from the

The Ahmedabad Manufacturing and Calico Printing Co. Ltd. and anr. Vs. ...

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Rules, 1944 - Rule 9; Finance Act, 1982 - Sections 51

Reported in : 1993LC538(SC); 1993(63)ELT601(SC); (1993)2GLR1751; JT1993(1)SC85; 1993(1)SCALE63; 1993Supp(2)SCC7; [1993]1SCR142

retrospective effect, the appellants amended the writ petition and challenged the constitutional validity of Section 51 of the Finance Act, 1982 and of the amendments to Rules 9 and 49 of the Rules.5. The High Court came to the … for the purpose, does not change the nature of the commodity as yarn. This Court observed at pages 720 and 721 of the report as under:In the instant case, the appellants are liable to pay excise duty

The Andhra Pradesh Federation of Chit Funds, a Public Society Rep. by ...

Court : Andhra Pradesh

Subject : Service TaxBanking

Acts : Constitution of India - Articles 14, 19(1), 226 and 265; Finance Act, 1994 - Sections 6, 65, 65(12) and 65(105); Andhra Pradesh Chit Funds Act, 1971; Finance (Amendment) Act, 2007 - Sections 65; Chit Funds (Amendment) Act, 1982 - Sections 2; Reserve Bank of India Act, 1934 - Sections 41(I) and 45I; Andhra Pradesh Chit Funds Rules

Reported in : (2008)220CTR(AP)28; (2008)17VST128(AP)

therefore it was contended that even culling out from the definition of the chit under the Chit Funds Act, 1982, there being an element of finance involved, it attracts cash management and asset management. Further, it has been … 14, 19(1)(g) and 265 of the Constitution of India and Section 65(12) read with Section 65(105)(zm) of the Finance Act, 1994 and to set aside the same. The case of the petitioners is that they are doing business … contract. Therefore, it is a special form of contract contemplated by Entry 7 of List III of VIIth Schedule of the Constitution of India and

A.P. Federation of Chit Funds Vs. Union of India (Uoi)

Court : Andhra Pradesh

Subject : Service Tax

Acts : Finance Act, 1994 - Sections 65(12) and 65(105); Andhra Pradesh Chit Funds Act, 1971 - Sections 2 and 6; Finance (Amendment) Act, 2007 - Sections 65; Chit Funds (Amendment) Act, 1982; Reserve Bank of India Act, 1934 - Sections 41(1) and 45I; Constitution of India - Articles 14, 19(1), 226 and 265; Andhra Pradesh Chit Funds Rules

Reported in : 2009[13]STR350

therefore it was contended that even culling out from the definition of the chit under the Chit Funds Act, 1982, there being an element of finance involved, it attracts cash management and asset management. Further, it has been … 14, 19(1)(g) and 265 of the Constitution of India and Section 65(12) read with Section 65(105)(zm) of the Finance Act, 1994 and to set aside the same. The case of the petitioners is that they are doing business … contract. Therefore, it is a special form of contract contemplated by Entry 7 of List III of VIIth Schedule of the Constitution of India and

Commissioner of Wealth Tax Vs. P. Devasahayam

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 and 80J; Wealth Tax Act, 1957 - Sections 5, 5(1) and 27(3)

Reported in : (1998)144CTR(Mad)313; [1999]236ITR885(Mad)

the assessee was running a hotel as an 'industrial company' within the meaning of s. 2(7)(c) of the Finance Act, 1982. (b) Their Lordships of a Division Bench of the Calcutta High Court, in answering such a question, held … 1968, and that the assessee is an 'industrial company' within the meaning of the definition contained in that section ?' (h) Their Lordships of a Division Bench of the Kerala High Court took into consideration various precedents

Prakash S/O Timaji Dhanjode Vs. Income Tax Officer

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 2(7), 22 to 27, 32, 45, 54, 54F, 54F(1), 54F(4), 139(2), 156, 221 and 271(1); Finance Act, 1982; Transfer of Property Act - Sections 6

Reported in : (2008)220CTR(Bom)249; [2009]312ITR40(Bom)

Therefore, all these concepts are inter-linked. The scheme and purpose of Section 54F, which was inserted by the Finance Act, 1982 with effect from 01.04.1983 i.e. from the Assessment Year 1983-84 is with a view to encourage house construction.