Judgment Search Results Home > Cases Phrase: finance act 1970 section 16 amendment of section 80mm Court: kolkata Page 13 of about 1,322 results (0.180 seconds)

Ms. Dharampal Satyapal Limited Vs. the Assistant Commissioner, Commerc ...

Court : Kolkata Appellate

..... heading 2404.49. in the case before us, we are concerned with the assessment for the four quarters ending march 31, 2004 and thus, the amended provision of finance act, 2001 is applicable.7. therefore, in order to appreciate the question involved in this writapplication, it will be appropriate to refer to the following amended definition of pan ..... sale-price of pan masala being sold separately along with tobacco in a single pouch under the brand name double mazza.2. being dissatisfied, the applicant under section 8 of the act has come up with the present revisional application.3. the following facts are not in dispute:a) the petitioner sells an item under the brand name double ..... 1. this application under articles 226 and 227 of the constitution of india is at the instance of an applicant under section 8 of the west bengal taxation tribunal act, 1987 and is directed against an order dated january 15, 2010 passed by the west bengal taxation tribunal, in case no.rn-169 of 2008, thereby .....

Commissioner of Income-tax Vs. Mrs. Sunita Kumar

Court : Kolkata

Reported in : [1994]208ITR807(Cal)

..... except his winnings from races nor is it allowed to be carried forward to be set off against income from any source in any subsequent year. the finance act, 1974, has amended section 74a so as to provide that the losses incurred by owners of race horses in the activity of owning and maintaining such horses, to the extent ..... owning and maintaining race horses are of no aid since such decisions are concerned with the question in the context of the law that prevailed before the insertion of section 74a by the finance act, 1972, having effect from april 1, 1972. for example, in janab a. syed jalal sahib v. cit : [1960]39itr660(mad) , the assessee, besides carrying ..... income to tax, a provision for the carry-forward and set off of losses from such sources has also been made by the finance act, 1972, by inserting a new section 74a with effect from april 1, 1972. section 74a, as it stood at the material time, is set out below :--'74a. losses from certain specified sources falling under the head .....

Chunilal Mulji Motani and ors. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1983]139ITR166(Cal)

..... or his daughters, nor assessment of such income, until the passing of the indian finance act of 1939, which imposed the tax for 1939-40 on the 1938-39 income and authorised the present assessment. by sub-section (1) of section 6 of the indian finance act of 1939, the income-tax for the year beginning on the 1st april, 1939, ..... on behalf of the assessee cannot be sustained. it is clear that the finance act of each year introduces the rate applicable for the previous year and section 4 of the i.t. act, 1961, has a similar provision which stipulates that, where the central act enacts that income-tax shall be charged for an assessment year at the rate ..... tax imposed for a particular fiscal year by a finance act. similar is the position with the present finance act, with which we are concerned, and similar is the scheme of the income-tax act now. in that light, the judicial committeeobserved that section 16(1)(c) of the indian i.t. act, 1922 would apply to revocable transfers of assets whether .....

Timken India Ltd. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Reported in : [2002]256ITR460(Cal)

..... year or financial year, mean--. . .(iii) for the purposes of deduction of tax under section 195, the rate or rates of income-tax specified in section 115a or the rate or rates of income-tax specified in this behalf in the finance act of the relevant year, whichever is applicable.' though the aforesaid provision was there at the relevant ..... of income-tax specified in an agreement entered into by the central government under section 90, whichever is applicable by virtue of the provisions of section 90.'17. in this case sub-section (2) of section 90 of the said act would be relevant, so the ..... this case, subsequently there was an amendment by the finance act, 1992, with effect from june 1, 1992. now the amended provision reads as follows :'(iii) for the purposes of deduction of tax under section 195, the rate or rates of income-tax specified in this behalf in the finance act of the relevant year or the rate or rates .....

Commissioner of Income-tax Vs. Rajnagar Tea Co. Ltd.

Court : Kolkata

Reported in : [1974]97ITR405(Cal)

..... we may first refer to section 49a which was substituted by the finance act, 1953, in place of the original section 49a and section 49aa. clause (a) of the present section 49a, it is necessary to mention, corresponded to section 49a before the amendment by the finance act, 1953. clause (b) of the present section 49a corresponded to section 49aa before the amendment by the finance act, 1953. section 49a provided as follows :'49a ..... which the government of india had entered into with the government of pakistan in exercise of the powers conferred by section 49aa of the indian income-tax act, 1922, which was subsequently replaced by the amended section 49a as introduced by section 3 of the finance act, 1953. this was done by the income-tax officer in spite of the contention of the assesses that abatement .....

J. Thomas and Co. (P) Ltd. Vs. Commissioner of Income Tax

Court : Kolkata

Reported in : (2005)195CTR(Cal)230,[2005]275ITR467(Cal)

..... parts ii and iii of schedule vi to the companies act, 1956, is to be excluded and deduction under the said section is not to be allowed with reference thereto ?(b) whether the petitioner can be considered as a trading company within the meaning of the finance act, 1989, and finance act, 1990 ?'1.1. these appeals arise out of ..... counsel for the parties it appears, as rightly pointed out by mr. bajoria, that the computation of income is made according to the it act, 1961 (it act), under different heads as specified in section 14 thereof. so far as the profits and gains of business on profession, which are being assessed in the present case, would not ..... a particular mode of computation has been provided for which substantially covers widely an area under the companies act rather than that of being covered by it act, as was pointed out by mr. bajoria, with reference to section 115ja and section 115j of the it act relying on the decision of the bombay high court in cit v. veekaylal co. (p) ltd., .....

income-tax Officer, c Ward and ors. Vs. Ryam Sugar Company Ltd.

Court : Kolkata

Reported in : [1976]105ITR819(Cal)

..... computation or recomputation should and can only be done in accordance with law. it was, therefore, urged that in accordance with the provisions of law and the relevant section of the finance act, 1958, the correct rate of tax was calculated and the assessee was not entitled to the rebate on his entire income at 30%. it was not expected, ..... naturally to be reduced and the revised total income was rs. 1,89,869. the income-tax officer, however, found that in accordance with the provisions of the finance act, 1958, the assessee was not entitled to rebate at 30% on its entire income. the assessee was entitled to certain reduced rebate which is indicated in the order ..... it was urged, that the income-tax officer would calculate the tax not in accordance with law but in violation of the same. under section 35 of the indian income-tax act, .....

Assistant Cit Vs. Anup (India) Ltd.

Court : Kolkata

Reported in : [2001]79ITD98(Cal)

..... jurisdictional high court in the case of g.a. renderian ltd. (supra) discussed the word 'process' used in the definition of the industrial company in section 2(7)(c) of the finance act, 1978. the honble jurisdictional high court observed that'the nature and extent of processing may vary from case to case; in one case the processing may be ..... co. (supra) wherein it was observed that'mere blending of different kinds of tea for the purpose of export does not constitute manufacture of articles within the meaning of section 2(5)(a)(ii) of the finance acts, 1966 and 1967. therefore, a company engaged in such activity is not an industrial company entitled to deduction as per provisions of ..... tea of different qualities, blending the same by mixing one type with another and selling it, claimed that it was an industrial company, within the meaning of section 2(7)(c) of the finance act, 1978 entitled to concessional rate of tax.'from this judgement it is clear that the honble high court never discussed .....

Britannia Industries Ltd. Vs. Joint Cit and ors.

Court : Kolkata

Reported in : (2004)193CTR(Cal)26,[2004]271ITR128(Cal),[2005]143TAXMAN325(Cal)

..... ). the eligibility to and eligibility of have been made distinct by reason of these provisions when read with sub-section (2)(i) and sub-section (3)(a) and (b), the omission whereof by the finance act, 1989, is a clear expression of the legislative intendment in removing the distinction.precedents : citation and its application :we may note that such a view was taken by ..... the word 'eligible' in clause (ii) before the word 'business' in sub-section (1) and the definition of 'eligible business' in sub-section (2) and clause (b) of sub-section (3) was omitted. once the distinction between the eligibility to deduction and the eligibility of deduction are removed by the finance act, 1989, the position stood clear as has been contended by dr. pal. inasmuch .....

Appeejay Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : 1994(46)ECC180,[1994]206ITR367(Cal)

..... manufacturing' although both the expressions appear in section 2(7)(c) of the finance act, 1978, the tribunal was in error in observing that the end result is tea having a particular blend and no commercially new or different article ..... an industrial company in terms of section 2(7)(c) of the finance act, 1978.25. the calcutta high court considered that, as there is no specific or separate definition of the expression 'processing' or the expression ' ..... ltd. v. cit : [1984]145itr387(cal) , while considering the claim of the assessee for treating it as an 'industrialcompany' within the meaning of section 2(7)(c) of the finance act, 1978, for allowing the benefit of concessional rate of tax, it was held that blending of tea amounts to processing and as such the assessee was .....