Judgment Search Results Home > Cases Phrase: finance act 1968 Sorted by: old Court: kolkata Page 7 of about 14,121 results (0.026 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 .....

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 .....

Commissioner of Income-tax Vs. Sky Room Pvt. Ltd.

Court : Kolkata

Reported in : [1992]195ITR763(Cal)

..... court in the case of cit v. casino (pvt.) ltd. : [1973]91itr289(ker) . there, the kerala high court, in construing the expression 'industrial company' in the finance act, 1968, held (p. 300) 'there may be trading concerns which may sometimes engage in production which isincidental to trading. it nevertheless will continue to be a trading concern. a hotel, ..... to non-edible stuff.2. the correctness of the conclusion of the tribunal has been challenged by the department. the definition of 'industrial company' as given by the finance act, 1975, is as under :'2(8)(c) 'industrial company', means a company which is mainly engaged in the business of generation or distribution of electricity or ..... , then both the bulk licensee and the distributing-licensee will have to be treated as 'industrial companies': section 2(8)(c) of the finance act, 1975, does not provide that only a company which manufactures and distributes electricity will be treated as an 'industrial company'. the language employed by the .....

Calcutta Electric Supply Corporation Ltd. Vs. Commissioner of Income-t ...

Court : Kolkata

Reported in : [1989]179ITR580(Cal)

..... , however, unable to accept the contentions of dr. pal for more than one reason.14. originally, sub-section (1a) of section 214 was inserted by the finance act, 1968, with effect from april 1, 1968. the said sub-section reads as follows :'(1a) where on completion of the regular assessment the amount on which interest was paid under sub-section (1) has ..... for the purpose of computation of the admissible amounts of depreciation under section 32(l)(iii) and/or development rebate and profit under section 41(2) of the act for the assessment years 1968-69 and 1969-70, the written down value of the fixed assets should be determined, not in pound sterling, but in equivalent amount of rupees ? (ii) ..... of the assessee.8. the facts of the case are stated hereunder :9. at the time of the original assessment for the year 1968-69, the amount of interest payable under section 214 of the income-tax act was rs. 14,64,130 although at the time of the original assessment, the figure was shown at rs. 14,61,738. .....

Commissioner of Income-tax Vs. Oil India Ltd.

Court : Kolkata

Reported in : [1992]196ITR366(Cal)

..... a)(v) lays down as follows (see [1968] 67 itr 87) :'in the case of companies, the deductible amount of expenditure incurred by them in ..... the purpose of computing the disallowance made undersection 40(a)(v) of the act. the tribunal held that the expenses incurred on repair and maintenance of such bungalow cannot be considered as a perquisite.12. section 40(a)(v) was inserted by the finance act of 1968, with effect from april 1, 1969. the object clause introducing section 40( ..... by the assessee-company and it is sold to the indian oil corporation at its refineries at gauhati and barauni. these pipelines havebeen in operation from 1962. from 1968 onwards, the assessee-company is transporting through the same pipeline along with its own crude oil, the crude oil belonging to ongc with its field of operation .....

Commissioner of Income-tax Vs. Hindustan Gum and Chemicals Ltd.

Court : Kolkata

Reported in : [1990]182ITR396(Cal)

..... or gain required to be excluded from such total income.12. dr. pal has drawn our attention to section 80aa of the income-tax act inserted by the finance (no. 2) act of 1980 with effect from april 1, 1968. the said section lays down that where any deduction is required to be allowed under section 80m in respect of any income by way ..... net amount with a view to grant such deduction with reference to the net income by way of dividends only, the finance (no. 2) act, 1980, inserted a new section 80aa to the income-tax act, 1961, with retrospective effect from 1st april, 1968. since in several cases, the high courts, following the said decision of the supreme court, held that even for purposes .....