Judgment Search Results Home > Cases Phrase: finance act 1968 section 2 income tax Page 15 of about 323,865 results (0.683 seconds)

Coimbatore District Central Co-operative Bank Ltd. Vs. Income-tax Offi ...

Court : Chennai

..... other words, income tax was not deductible at source if the recipient of such income was a bank or co-operative society engaged in banking. (ii) under the finance act of 1968, which came into effect from 1.4.68, clause (v) was inserted, so as to exclude the income credited or paid by a co-operative society to ..... , learned senior standing counsel for the department, submitted a note to us indicating the manner in which section 194a underwent a change right from the finance act no.2 of 1967 upto date. the history of the amendments that section 194a had undergone in the past nearly about 48 years indicate that the pendulum has swung from one extreme ..... societies for non-deduction of tax from interest payment to members under section 194a(3)(v) of the act. as there is no difference in the functioning of the co-operative banks and other commercial banks, the finance act, 2006 and finance act, 2007 amended the provisions of the act to provide for co-operative banks a taxation regime which is similar .....

Commissioner of Income-tax Vs. Albright Morarji and Pandit Ltd.

Court : Mumbai

Reported in : (1999)154CTR(Bom)455; [1999]236ITR914(Bom)

..... required to be allowed under section 80m in respect of any income by way of dividends from a domestic company which is included ..... at in accordance with the provisions of the act. the supreme court overruled its earlier decision in cloth traders p. ltd. v. addl. cit : [1979]118itr243(sc) , wherein a contrary view had been taken. the supreme court also noticed section 80m of the act, inserted by the finance (no. 2) act, 1980, with retrospective effect from april 1, 1968, which provides that where any deduction is .....

Warner Hindustan Ltd. and anr. Vs. Income-tax Officer and ors.

Court : Andhra Pradesh

Reported in : [1982]134ITR158(AP)

..... included in the popular parlance. section 35d(3) of the i.t. act which uses the term 'capital employed' includes within that definition 'long-term borrowings'. in birmingham small arms co. ltd. v. irc [1951] 2 all er 296 construing the expression 'capital employed' in relation to the excess profits tax imposed by the finance act, 1939, lord simonds, speaking ..... are ultra vires of s. 80j. the petitioner is a public limited company to which s. 80j of the act applies and is assessed as such under the i.t. act, 1961. it started a pharmaceutical unit in august, 1968. it is assessed to income-tax and its assessment year is the calendar year. for the purpose of application of ..... company and for the four assessment years immediately succeeding.' 17. the present s. 80j was inserted by the finance (no. 2) act of 1967, with effect from april 1, 1968. the object of s. d 15c of the indian i.t. act, 1922, which is similar to the present s. 80j, is elucidated by the supreme court in textile machinery .....

New Delhi Vs. Gedore Tools (India) Pvt. Ltd., New Delhi

Court : Delhi

Reported in : [1980]126ITR673(Delhi)

..... unit was not entitled to the exemption under section 80j of the act.(9) section 84 of the act dealt with the income of new industrial undertakings. by the finance (no. 2) act 1967, section 84 was deleted with effect from 1st april, 1968 and section 80j inserted. in the 1922 income-tax act, section 15c dealt with this matter. though there ..... area number of differences in the above mentioned three sections, yet for the purposes of this case, they are not relevant. section 80j stipulates ..... surplus were rs. 39.04 lakhs.(5) the assessed-company claimed an exemption as permissible under section 80j of the act on the capital employed in the new factory industrial undertaking. though for the assessment year 1968-69, this new undertaking suffered a loss, the assessed company wanted to carry forward the exempted .....

Commissioner of Income-tax Vs. Premier Cotton Spinning Mills Ltd.

Court : Kerala

Reported in : (1981)20CTR(Ker)357; [1981]128ITR694(Ker)

..... deductions in the computation of the total income that chap. vi-a was introduced into the act by the finance act, 1965, with effect from april 1, 1965. the chapter, as it was originally introduced then, contained only sections 80a to 80e and those provisions did not cover the subject-matter of relief in respect of ..... said section. it was only with effect from april 1, 1968, that section 88 was omitted from the act and the present provision contained in section 80g was introduced in chap. vi-a of the act by the finance (no. 2) act, 1967.13. under section 15b of the indian i.t. act, 1922, as well as under section 88 of the act, the ..... finance (no. 2) act of 1967 containing sections 80a to 80t. section 80a(1) provides that in computing the total income of an assessee there shall be allowed from the gross total income, in accordance with and subject to the provisions of that chapter, the deductions specified in sections 80c to 80vv (sections 80u to 80vv were added in the act subsequent to 1968 .....

K. I. Viswambharan and Brothers and Other Vs. Commissioner of Income-t ...

Court : Kerala

Reported in : [1973]91ITR588(Ker)

..... provisions included in chapter xii of the act. section 114 of the income-tax act was included in chapter xii.. section 114 was omitted and its place section 80t was inserted by the finance (no. 2) act of 1967. but, since the omission was to take effect only with effect from 1st april, 1968, section 114 applied to assessments for the the ..... assessment year 1967-68, and the case on hands falls within that category. section ..... in respect of rs. 25000 being the general exemption granted to a registered firm and whether the interpretation placed on the finance (no. 2) act of 1967 read along with section 114 of the income-tax act is in accordnce with law?'two brothers, k. i. viswambharan and k. i. sukumaran, formed a partnership and carried .....

Chokshi Metal Refinery Vs. Commissioner of Income-tax, Gujarat-ii

Court : Gujarat

Reported in : [1977]107ITR63(Guj)

..... be pointed out that the language of section 84 of the act as it stood up to the date of its detection by the finance (no. 2) act of 1967, which came into effect from april 1, 1968, was the same as the language of section 80j of the act. section 80j came into force with effect from april 1, 1968. thus out of the two years under ..... the other by section 80j. since the provisions of ..... reference, one is governed by section 84 and .....

P.K. Ramasamy Nadar Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1982)2ITD624(Mad.)

..... deduction in respect of contribution to notified provident fund is available under section 80c(2)(a)(iv) where the assessee is an individual and under section 80c(2)(g)(i)(2) where the assessee is an aop or boi. the concession to individuals was introduced by the finance act, 1968, with effect from 1-4-1969. the requisite notification was issued ..... in so 2431 on 2-7-1968 in [1968] 69 itr (st.) 1. it was extended to ..... aop/boi of married persons, following the system of community property in erstwhile portuguese territories, by the finance act, 1970 with effect from 1-4-1971. assessees being hufs, the only clause applicable to them is clause (b) of section 80c(2) which authorises .....

Commissioner of Surtax, Vidarbha and Marathwada Vs. Ballarpur Industri ...

Court : Mumbai

Reported in : [1979]116ITR528(Bom)

..... as originally enacted in 1965 was later on substituted by the new chap. vi-a by the finance (no. 2) act, 1967, containing ss. 80a to 80g. section 80u was added therein by act 19 of 1968. sections 80-i and 80j were enacted by the finance (no. 2) act, 1967. 9. in this reference, we are concerned with the deduction allowable under s. 80 ..... -i which was one for priority industries. the topic covered by the section, it may be noted, was originally dealt ..... with by s. 80e, which was later on replaced by s. 80-i and finally deleted by the finance act of 1972 with effect from 1st april, 1973. the deduction was in respect of priority industries .....

Commissioner of Income Tax Vs. P.V.A.L. Kulandagan Chettiar (Dead) Thr ...

Court : Supreme Court of India

Reported in : (2004)189CTR(SC)193; [2004]267ITR654(SC); 2004(6)SCALE36; (2004)6SCC235

..... economic development in india- (i) in relation to royalties, as set forth in the relevant annual finance act of india; and(ii) in relation to other income as set forth in the following sections of the income-tax act, 1961 of india or which may be introduced in future in the indian tax laws in modification of ..... and assumes substantially similar character of tax referred to in the preceding paragraph.21. taxation policy is within the power of the government and section 90 of the income tax act enables the government to formulate its policy through treaties entered into by it and even such treaty treats the fiscal domicile in one state ..... development in malaysia- (aa) which are set forth in section 21, 22 and 26 of the investment incentives act, 1968 of malaysia; or(bb) which may be introduced in future in the income tax act, 1967, supplementary income tax act, 1967, petroleum (income tax) act, 1967 or investment incentives act, 1968 in modification of or in addition to the existing measures; .....