Judgment Search Results Home > Cases Phrase: finance act 1968 Sorted by: old Court: kolkata Page 5 of about 14,121 results (0.337 seconds)

Shaw Scott Distilleries (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2001)76ITD89(Kol.)

..... articles of food from raw materials in a hotel would not constitute "manufacture or processing of goods" within the meaning of section 2(6)(d) of the finance act, 1968. a company which carries on such activity will not fall within the definition of an "industrial company" under that provision. the decisions of kerala high court in ..... change which is considerable and substantial but in the instant case it is not so. here we consider necessary to refer section 80hh of the income-tax act, 1961. in order to encourage industrial activity in backward areas, this section grants deduction to an assessee, whose total income includes any profits and gains derived ..... spirit supplied by rampur distillery blends them and adding essence bottles them. this amounts 'manufacturing' and, therefore, is entitled to deduction under section 80hh of the act. it is the contention of the learned ar of the assessee that production of potable liquor involves dilution of the alcohol which is the raw material with .....

Apeejay Industries Ltd. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Reported in : [2001]250ITR414(Cal)

..... the apex court, while deciding the question of applicability of clause (iii) substituted in section 271(1) by the finance act, 1968, held that it is the law operating on the date on which the wrongful act is committed which determines the penalty. where penalty is imposed for the concealment of particulars of income, it is the ..... of jurisdiction under article 226 to interfere with this order substituting its own reasons, since the petitioner has not fulfilled all the conditions mentioned in section 220(2a) of the act. he referred to cases, viz., ramapati singha-nia v. cit : [1998]234itr655(all) ; eminent enterprises v. cit : [1999]236itr883(ker) ; auro food ltd. v. ..... 'paid or payable' sufficiently indicate the aforesaid proposition. in this case, the demand for payment of interest was made in 1989 long after theaforesaid amendment act came into force. he contends that the payability of tax and interest by the petitioner crystallised finally after the delivery of the judgment of this court in .....

Bireswar Sirkar Vs. Collector of Central Excise and ors.

Court : Kolkata

Reported in : (2003)2CALLT523(HC),2003(162)ELT1170(Cal)

..... issued by the collector of customs and central excise who were gold control officers, but because of certain amendments in the central excise and salt act, 1944 in the finance act 2 of 1995 the designation of the collector of central excise and customs have been re-designation as the commissioner. therefore, the contention of ..... and movement of gold within the country was introduced on 9th january, 1963 as part of the defence of india rules. late on the gold control act, 1968 was enacted with the broad objectives of controlling the production, manufacture, supply, distribution, use and possession of an business in gold ornaments and articles of gold ..... authorities and in that the collector of customs and central excise were designated as authorities to adjudicate the offences committed under the defence of india act, 1962, and gold control act, 1968. therefore, notice was issued by the collector of customs and central excise, calcutta and orissa. all the authorities who were working as the .....

income-tax Officer Vs. Kenaram Saha and Subhash Saha and

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)301ITR171(Kol.)

..... great length. his arguments/submissions can be summarized as follows: 2. that section 40a(3) was introduced by the finance act, 1968, with effect from april 1, 1968. in the memorandum explaining the provisions in the finance bill, 1968, it was explained that the purpose behind the enactment of the provisions of section 40a(3) was to curb ..... has been contended by learned counsel sri s.k. tulsiyan that section 40a(3) was introduced by the finance act, 1968 with effect from april 1, 1968. he referred to the memorandum explaining the provisions in the finance bill, 1968 and pointed out that the purpose of introduction of section 40a(3) was to curb wasteful or lavish ..... high court in the case of kamath marbles v. ito have upheld the constitutional validity of section 40a(3) and of rule 6dd after amendment by the finance act, 1995 and the income-tax (fourth amendment) rules, 1995, respectively.11. he further submitted that while upholding the constitutional validity of amendment in section 40a( .....

The Islampur Municipality and anr. Vs. Chaudhuri M. Manjar Afaque and ...

Court : Kolkata

..... establishing markets for agricultural produce in the state of west bengal. accordingly, in the object it has been stated that earlier in the west bengal markets regulation act, 1968 there was some lacuna in the statute whereby the wholesale traders could be restrained to carry the business within the market yard and also in the market ..... and every phrase of the statute must have a meaning. reliance may be placed to the judgment passed in the case reserve bank of india v. peerless general finance and investment co. ltd. and ors. reported in : [1987]2scr1 , wherein in para 33 the apex court discussed the issue in the following language:interpretation ..... agricultural produce sold in the market area. section 17 reads such:17. levy of fee by market committee.- (1) notwithstanding anything contained in the bengal finance (sales tax) act, 1941 or any other law relating to taxation of agricultural produce in force, the market committee shall levy fees on any agricultural produce sold in the market .....

Commissioner of Income-tax Vs. Karam Chand Thapar and Sons Limited (No ...

Court : Kolkata

Reported in : (1987)64CTR(Cal)167,[1987]166ITR636(Cal)

..... bank or a land mortgage bank. ' 17. learned advocate for the assessee submitted that section 199 of the income-tax act, 1961, had been amended with retrospective effect by the finance act, 1968.18. learned advocate for the assessee submitted further that the andhra pradesh high court did not consider the effect of the retrospective ..... amendment introduced in section 199 of the income-tax act, 1961, in smt. batool begum : [1976]104itr642(ap) , which has been ..... certificate furnished under section 203 in the assessment (including a provisional assessment under section 141a), if any, made for the immediately following assessment year under this act: provided that--..... (ii) in any other case, where the dividend on any share is assessable as the income of a person other than the shareholder .....

Commissioner of Income-tax Vs. Andhra Metal (P.) Ltd.

Court : Kolkata

Reported in : [1988]172ITR153(Cal)

..... to the order of the tribunal which was passed on august 23, 1976, a new section 80aa was inserted in the income-tax act, 1961, by the finance (no. 2), act, 1980, with retrospective effect from april 1, 1968. the said section reads as follows:' 80aa. where any deduction is required to be allowed under section 80m in respect of any income ..... to the income by way of such dividends as computed in accordance with the provisions of this act (before making any deduction under this chapter) and not with reference to the gross amount of such dividends.'3. section 44 of the finance (no. 2) act, 1980, provides for savings in certain cases which are not attracted to the facts of the ..... instant case.4. for the reasons as aforesaid, in view of the said section 80aa of the income-tax act, 1961, the question has to be answered in the negative .....

Commissioner of Income-tax Vs. Shree Bajrang Electric Steel Co. (P.) L ...

Court : Kolkata

Reported in : [1988]174ITR672(Cal)

..... to the capital employed and turnover. the commissioner of income-tax (appeals), however, summarily rejected this contention because of the finance (no. 2) act, 1980, by which a new section 80aa had been inserted with effect from april 1, 1968, according to which, for the purpose of computing the deductions under chapter vi of the income-tax ..... letter dated february 8, 1979. the commissioner of income-tax (appeals), however, rejected this claim on the ground that by the finance (no. 2) act, 1980, a new section 80aa had been inserted with retrospective effect from april 1, 1968, according to which, for the purpose of computing the deductions under chapter vi of the income-tax ..... act, the amount of income has to be computed in accordance with the provisions of the act and for the purpose of deductions under sections 80j and 80-i .....

Commissioner of Income-tax Vs. Indian Molasses Co. (P.) Ltd.

Court : Kolkata

Reported in : (1989)77CTR(Cal)112,[1989]176ITR473(Cal)

..... seven thousand five hundred rupees or less.'10. minor changes were also introduced in the first proviso to section 40(c)(iii) which are not relevant.11. by the finance act of 1968, sub-clause (iii) of section 40(c) and explanation 2 thereof stood omitted with effect from april 1, 1969, and explanation 1 remains attached to clause (c ..... ). by the said finance act, section 40(a)(v) was inserted with effect from 1st april, 1969. section 40(a)(v), as introduced by the finance act of 1968, is as follows :'(a) in the case of any assessee ... (v) any expenditure which results directly or ..... employee for any period of his employment after the aforesaid date.'8. the proviso and the explanations to the aforesaid clause are not however reproduced.9. by the finance act of 1965, the second proviso was inserted in section 40(c)(iii) which runs as follows :'provided further that nothing in this sub-clause shall apply to .....

income-tax Officer Vs. General Investment Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1989)29ITD1(Kol.)

..... original assessments for the assessment years 1977-78 and 1978-79, section 80aa came to be inserted by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 in the income-tax act, 1961 (for brevity the act) which in substance provides that deduction allowable to a company under section 80m should be computed not on the ..... was that the gross dividend was to be allowed as a deduction under section 80m. subsequently, the parliament by enacting section 80aa by finance (no. 2) act of 1980 with retrospective effect from 1-4-1968, provided that: where any deduction is required to be allowed under section 80m in respect of any income by way of dividends from ..... of the rectification order in a writ petition in the high court. the high court set aside the order by holding that whether the retrospectivity given by the finance act would cover completed assessments or would apply to pending assessments was a debatable point and since it was a debatable point, there could not be said to .....