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income-tax Officer Vs. Kalima Plastics (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1990)35ITD211(Delhi)

..... since the assessee is an industrial company within the meaning of clause(c) of section 2(7) of the finance act, 1982 concessional rate of tax at 55% would be applicable for the assessment year under consideration. ..... year 1982-83, the income from the manufacturing activity was less than 51% of the total income and, therefore, in view of the explanation to section 2(7) of the finance act, 1982, the assessee-company cannot be held to be an industrial company and, therefore, in this case concessional rate of tax at 55% was not applicable.6. ..... it is, therefore, not correct to say that it is only when income derived by a company from one or more activities enumerated in clause(c) of section 2(7) of the finance act, 1982 is not less than 51% of its total income that it can be treated as an industrial company for the purpose of applying the concessional rate of tax at 55%. ..... 103 dated 17-2-1973, the relevant portion whereof is also reproduced in taxman's direct taxes circulars (1988) edition volume ii at pages 1804 and 1805. ..... construction of six ships or building manufacture or processing of goods or in mining, if the income attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter xvi-a of the income-tax act) is not less than 51% of such total income.8. .....

industrial Finance Corporation of India Vs. Commissioner of Income-tax

Court : Delhi

Reported in : [1998]233ITR13(Delhi)

..... 204/35/73-ita-i dated november 12, 1973, issued by the central board of direct taxes interpreting the provisions of section 36(1)(viii) of the income-tax act, 1961, in favor of the assessee, was not to be applied to the assessor's case ..... the question whether the specified percentage of rate is to be applied to the total income (computed before making any deduction under chapter vi-a) before or after making any deduction under section 36(1)(viii) was considered by the central board of direct taxes and in a circular letter no. f. no. ..... section 10 of the finance act, 1985, has amended section 36(1)(viii) of the act with effect from april 1, 1985, so that the total income shall be computed before making any deduction under section 36(1)(viii) also ..... ..... the assessor's claim before the income-tax officer was that the specified percentage of deduction under section 36(1)(viii) should be given on the total income which should be worked out before making any deduction under chapter vi-a and without making any deduction under section 36(1)(viii) ..... under the provisions of section 36(1)(viii) financial corporations engaged in providing long-term finance for industrial or agricultural development in india are entitled to a deduction in the computation of their taxable profit of the amount transferred by them out of such profits to a special reserve account, up to a specified percentage of their total income as computed before making any deduction under chapter vi-a of the income-tax act, 1961. .....

Moser Baer India Ltd. Vs. the Additional Commissioner of Income Tax an ...

Court : Delhi

Reported in : (2009)221CTR(Del)97; [2009]316ITR1(Delhi); [2009]176TAXMAN473(Delhi)

..... similarly, the supreme court in carborundum universal ltd (supra) was dealing with the powers of the central board of direct taxes (board) to reduce and/or waive the amount of interest payable by an assessee under section 220(2-a) of the income tax act on the recommendation of the commissioner in case, it was satisfied that it was a case of genuine hardship or the default in payment of the amount on which interest was payable was due to circumstances beyond the control of the assessee ..... determined by the tpo, was required to give a final opportunity to the assessee before computing the assessee's total income.this is clear from the language used in sub-section (4) of section 92ca prior to its amendment by virtue of finance act, 2007, as the determination by the tpo was not binding on the assessing officer.the assessing officer was thus empowered even at the stage of computation of total income to look into issues pertaining to determination of alp by the ..... learned counsel for the petitioners, that in the event the tpo proceeds to disregard the alp determined by the assessee and makes adjustments to the alp determined by the assessee, it would be necessary under the scheme of chapter x and, in accordance with the principles of natural justice, that he confronts the assessee and/or his representatives with the material or information which could form the basis of the determination of alp by the tpo.4.2 it ..... principal, rajendra medical college 0044/1973 : (1973)iillj111sc ; sbi v. .....

Modi Rubber Ltd. Vs. Union of India and Others

Court : Delhi

Reported in : 1984(2)ECC30; 1983(12)ELT24(Del)

..... collected under section 37 of the finance act, 1978 is not any direct tax, but is a duty of ..... supreme court held that in assessing income-tax and super-tax, on salary received by the assessed in accordance with section 2(2) of the finance act of 1964, not merely the income-tax and the super tax at the rates applicable under the finance act, 1963, but the surcharges prescribed there ..... competence to introduce a new charge or tax, it may exercise that power either by incorporating that charge in the income-tax act or by introducing it in the finance act or for that matter by enacting any other ..... notifications grant exemption from so much of the special/additional/auxiliary duty livable thereon under stated sub-section of stated section of the finance act or special act as is in excess of the specified percentage of the duty of excise chargeable under that statutory provision read with any notification. ..... exemption notification, the petitioners are entitled to the benefit of exemption and the total duty of excise livable including basic duty under the act plus additional duty under the finance act, 1978 could not exceed the effective duty livable in terms of the said notification dated august 1, 1974 i.e. ..... under section 3 of the additional duties of excise (goods of special importance) act, 1957 are to be determined and paid in accordance with the provisions of that chapter, as if for the word 'duty' the words 'additional duty' were ..... chapter viib of the rules provides for payment of duty .....

Sara Services and Engineers Pvt. Vs. Commr. of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

..... 2,000/- under section 77 of chapter 5 of the finance act, 1994.2. ..... 1,43,564/- and imposed penalty of the like amount under section 76 of the finance act and also a penalty of rs. ..... having regard to the facts and circumstances of the case, we, therefore, direct that there will be interim stay of the impugned order without any condition of pre-deposit. ..... the appellant challenges the order of the commissioner (appeals) upholding the order in original by which the deputy commissioner had directed the appellant to pay service tax amount rs. ..... we have gone through the relevant material on record and it appears to us that prima facie, after the tribunal held that varco was an independent identity and not a dummy manufacturing unit of the appellant, the revenue directed its consideration to the question whether the same situation warranted imposition of service tax. ..... he also contended that service tax in respect of the said services was introduced on 7-10-1998. .....

Virag Tiwari vs.principal Commissioner of Income Tax-21 & Others

Court : Delhi

..... we would be rewriting provisions of chapter ixa of the finance act if we direct grant of benefit of advance tax paid under the act i.e. ..... amendment act had also omitted the figures/letters 115bbe in the third proviso in chapter ii, in section 2(9) of the finance act and inserted seventh proviso to the said sub-section for imposition of surcharge @25% on the tax. ..... seventh proviso to section 2(9) of the finance act, reads ;- provided also that in respect of any income chargeable to tax under clause (i) of sub-section (1) of section 115bbe of the income-tax act, the advance tax computed under the first proviso shall be increased by a surcharge, for the purposes of the union, calculated at the rate of twenty-five per cent of such advance tax; thus, an assessee was also liable to pay surcharge @ 25% on tax on the income chargeable to tax under clause (i) of section 115bbe (1) of the act in addition to 60% tax. ..... amendment act also introduced pmgk scheme by adding chapter ixa to the finance act, 2016 (finance act) with the heading taxation and investment regime for pradhan mantri garib kalyan yojna, 2016, albeit as a second option for the delinquent assessee. ..... notwithstanding anything contained in the income-tax act or in any finance act, the person making a declaration under sub- section (1) of section 199c shall, in addition to tax and surcharge charged under section 199d, be liable to pay penalty at the rate of ten per cent. .....

M/S Great Eastern Exports .and ors. Vs. the Commissioner O F Income Ta ...

Court : Delhi

..... the gross total income by the amount of deduction under section 80hh of the act by the direct taxes (amendment) act, 1974, with effect from april 1, 1974, was inserted. ..... of profits and gains of an undertaking is claimed and allowed under this section for any assessment year;(b) deduction to the extent of such profits shall not be allowed under any other provisions of this chapter under the heading c-deductions in respect of certain income", and ita 267 of 2008, ita 1316 of 2008, ita 4 of 2009, page 26 of 37 ita 907 of 2009, ita 906 of ..... the case of an assessee is claimed and allowed under this section for any assessment year, deduction to the extent of such profits and gains shall not be allowed under any other provisions of this chapter under the heading c-deductions in respect of certain incomes, and shall in no case exceed the profits and gains of such eligible business of undertaking or enterprise, as the case may be"ita 267 ..... or enterprise or eligible business does not correspond to the market value of such goods or services as on the date of the transfer, then, for the purposes of any deduction under this chapter, the profits and gains of such undertaking or unit or enterprise or eligible business shall be computed as if the transfer, in either case, had been made at the market value of such goods or ..... in chapter via of the act and following discussion ensued thereupon:-"sub-section (9) of section 80hh, as it stood prior to insertion of section 80i by the finance (no .....

Yfc Projects P.Ltd. Vs. Uoi

Court : Delhi

..... (at annexure p-4) issued by the respondent as illegal and unconstitutional by declaring that works contract of the petitioner were not subject to tax prior to the enactment of the finance act, 2007 as levied on works contract services under section 65(105)(zzzza) of chapter v of the finance act, 1994; b) issue a writ of certiorari/mandamus or any other appropriate writ/order/direction against the respondent declaring that the production and supply of ready-mix concrete (rmc), which is covered under the tariff ..... 65(105) (zzd) read with section 65(29) and section 65(39a), section 65(105)(zzq) read with section 65 (25b), section 65(105)(zzzh) read with section 65(30a) and section 65(91a) of chapter v of the finance act, 1994 as much as levying the service tax on the works contract and ready-mix concrete (rmc) as unconstitutional and also quashing of clarification given through instruction no.c.no.iv/16/56/07/stc dated 7-11-2007 (at annexure p-3) and under reference code no.097.03/04.01.08 of the circular ..... item no.3824 50 10 by specifying nil rate of duty of excise under the central excise tariff act, 1985 read with central excise act, 1944, is not a taxable service under the finance act, 1994, hence service tax collected on the .....

Vistar Constructions (P) Ltd Vs. Uoi

Court : Delhi

..... (at annexure p-4) issued by the respondent as illegal and unconstitutional by declaring that works contract of the petitioner were not subject to tax prior to the enactment of the finance act, 2007 as levied on works contract services under section 65(105)(zzzza) of chapter v of the finance act, 1994; b) issue a writ of certiorari/mandamus or any other appropriate writ/order/direction against the respondent declaring that the production and supply of ready-mix concrete (rmc), which is covered under the tariff ..... 65(105) (zzd) read with section 65(29) and section 65(39a), section 65(105)(zzq) read with section 65 (25b), section 65(105)(zzzh) read with section 65(30a) and section 65(91a) of chapter v of the finance act, 1994 as much as levying the service tax on the works contract and ready-mix concrete (rmc) as unconstitutional and also quashing of clarification given through instruction no.c.no.iv/16/56/07/stc dated 7-11-2007 (at annexure p-3) and under reference code no.097.03/04.01.08 of the circular ..... item no.3824 50 10 by specifying nil rate of duty of excise under the central excise tariff act, 1985 read with central excise act, 1944, is not a taxable service under the finance act, 1994, hence service tax collected on the .....

G.D.Buildtech P.Ltd. Vs. Uoi

Court : Delhi

..... (at annexure p-4) issued by the respondent as illegal and unconstitutional by declaring that works contract of the petitioner were not subject to tax prior to the enactment of the finance act, 2007 as levied on works contract services under section 65(105)(zzzza) of chapter v of the finance act, 1994; b) issue a writ of certiorari/mandamus or any other appropriate writ/order/direction against the respondent declaring that the production and supply of ready-mix concrete (rmc), which is covered under the tariff ..... 65(105) (zzd) read with section 65(29) and section 65(39a), section 65(105)(zzq) read with section 65 (25b), section 65(105)(zzzh) read with section 65(30a) and section 65(91a) of chapter v of the finance act, 1994 as much as levying the service tax on the works contract and ready-mix concrete (rmc) as unconstitutional and also quashing of clarification given through instruction no.c.no.iv/16/56/07/stc dated 7-11-2007 (at annexure p-3) and under reference code no.097.03/04.01.08 of the circular ..... item no.3824 50 10 by specifying nil rate of duty of excise under the central excise tariff act, 1985 read with central excise act, 1944, is not a taxable service under the finance act, 1994, hence service tax collected on the .....