Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Page 18 of about 15,464 results (0.738 seconds)

Smt. Trishla JaIn Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1990)34ITD523(Delhi)

..... claim that concessional rate of tax at 20% is applicable under chapter xii-a of the income-tax act, 1961. the assessing officer has rejected the claim of the assessee in this regard and has imposed the tax at normal rates as applicable under the finance act of 1987. the cit(a), faridabad, has dismissed the appeals ..... exchange' means foreign exchange which is for the time being treated by the reserve bank of india as convertible foreign exchange for the purposes of the foreign exchange regulation act, 1973 (46 of 1973) and any ' rules made thereunder. 'foreign exchange asset' means any specified asset which the assessee has acquired or purchased, with, ..... definition of investment income under section 115e.since the language of the relevant provisions of the act is unambiguous we cannot unnecessarily resort to investigation and determination of intention of the legislature on the basis of speech of the finance minister. it is well settled principle of law that when the language of the statute .....

Smt. Babita P. Kanungo Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)277ITR177(Mum.)

..... referred to in section 5, computed in the manner laid down in this act. in chapter iii, section 10(1) of this act clearly says that agricultural income is not to be included in total income. here, it is pertinent to note that as per section 2(2) of the finance act, 1997, also, only agricultural income of the assessee has to be ..... be said that the agricultural income of the minor children of the assessee is agricultural income of the assessee and, therefore, in view of section 2(2) of the finance act, 1997, this agricultural income of the minor children of the assessee cannot be included into the income of the assessee for rate purposes. we hold accordingly and both these ..... income of the assessee for rate purposes. we find that for including the agricultural income for rate purposes, it has to be done as per section 2(2) of the finance act, 1997, which is reproduced below : "in the cases to which para a of part i of the first schedule applies, where the assessee has, in the previous year, .....

Mascon Technical Services Ltd. Vs. Asstt. Cit, Central Circle Iii (2)

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2005)3SOT861(Chd.)

..... was granted by the cbdt for the purpose of deduction under section 80-o in earlier years. no such approval was required after the amendment was made by the finance act, 1991, with effect from 1-4-1992.he then referred to section 80hhb. he brought to our attention sub-section (5) of this section in which it ..... the provisions are read together, it becomes clear that in the case of section 80hhb, the assessee was specifically prohibited to claim deduction under any other provisions of chapter vi-a in respect of receipts from foreign projects whereas sub-section (5) of section 80hhe only provides that if deduction has been claimed under this section, then ..... the receipts may fall under section 80hhb. sub-section (5) of section 80hhb reads as under : "(5) notwithstanding anything contained in any other provision of this chapter under the heading 'c.deductions in respect of certain incomes', no part of the consideration or of the income comprised in the consideration payable to the assessee for the .....

M.S. Associates and anr. Vs. Union of India (Uoi) and ors.

Court : Guwahati

..... as amended;(ii) penalty should not be imposed upon them in terms of section 76, 77 and 78 of chapter-v of the finance act, 1994 as amended;(iii) interest at the prescribed rate under section 75 of chapter-v of the finance act, 1994 as amended should not be demanded and realized from them.2. along with the show cause notice a list ..... is the character of state lotteries and even if it is legalized, would it qualify to be or can it be held to be a trace within the meaning of chapter xxiii of the constitution of india.8. it is in the above context, it was held that the state lotteries cannot be construed to be a 'trade and business ..... was interse between two distinct sets of state, one challenging and the other upholding certain provisions of the lotteries (regulation) ordinance 1997, which later on became the lotteries (regulation) act, 1998. the issue was confined to the state lotteries under entry 40, list (i) of the seventh schedule of the constitution of india. as a consequence of the order .....

Radheshyam Rajendra Prasad and ors. Vs. State of Assam and ors.

Court : Guwahati

..... section 2(4) to mean:(a) the assam sales tax act, 1947.(b) the assam (sales of petroleum and petroleum products, including motor spirit and lubricants) taxation act, 1955.(c) the assam finance (sales tax) act, 1956 and(d) the assam purchase tax act, 1967.24. chapter ii deals with sales tax concessions in respect of raw materials. ..... section 3 requires that notwithstanding anything contained in any sales tax law, from the commencement of the act, no dealer would be liable ..... 1, 1993 to march 31, 1998 and that as the government was within its power to issue the impugned notification under section 7 of the bihar finance act prescribing the conditions and restrictions in the matter of exemption, interference therewith was untenable in law.45. repelling the above, the apex court, while noticing .....

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

Court : Mumbai

Reported in : (1995)123CTR(Bom)256; [1995]211ITR557(Bom)

..... the factory to bombay forgings pvt. ltd., it should be still deemed to be an 'industrial undertaking' within the meaning of section 2(8) (c) of the finance act, 1975. according to the assessee, it continued its business of manufacturing goods in the year under consideration through the instrumentality of the lessee, bombay forgings pvt. limited. the ..... -company was not engaged in the business of manufacturing of goods within the meaning of the definition of an industrial company under section 2(8) (c) of the finance act, 1975 ?' 2. the assessee is a private limited company. this reference pertains to the assessment year 1975-76, the corresponding previous year being the year ended on ..... before making any deduction under chapter vi-a of the income-tax act) is not less than fifty-one per cent. of such total income.' 5. from a reading of the above definition, it is absolutely clear that a company can be termed as an industrial company under section 2(8) (c) of the finance act, 1975, only if it .....

India Tyre and Rubber Co. (India) Pvt. Ltd. Vs. Commissioner of Income ...

Court : Mumbai

Reported in : [1994]210ITR409(Bom)

..... included in its total income of the previous year (as computed before making any deduction under chapter vi-a of the income-tax act) is not less than fifty-one per cent. of such total income;' 3. paragraph f of the schedule to the finance act prescribes a concessional rate of income-tax in case the assessee is an industrial company within ..... board accepted the correctness of the decision of the high court of calcutta in the above referred case in addl. cit v. a. mukherjee and co. (p.) ltd. : [1978]113itr718(cal) . in paragraph 2 of the said circular, it is specifically stated that book publishing companies were liable to be treated as industrial companies for the purposes of section ..... the attention of the court to the judgment of the high court of calcutta in the case of addl. cit v. a. mukherjee and co. (p.) ltd. : [1978]113itr718(cal) . in this case, the assessee carried on business as a publisher of books. the question before the court was as to whether the assessee can be considered as .....

Commissioner of Income-tax, Hyderabad Vs. Sri Rajareddy Mallaram

Court : Supreme Court of India

Reported in : AIR1964SC825; [1964]5ITR285(SC); [1964]5SCR508

..... members of the group who were not served. the material part of s. 44 of the indian. income-tax act (insofar as it dealt with the liability of discontinued associations) before it was amended by s. 11 of finance act xi of 1958 with effect from april 1, 1958, stood as follows : 'where any business, profession or vocation ..... and imposition of tax liability notwithstanding discontinuance of the business of firms. by a fiction, the firm is deemed to continue after discontinuance for the purpose of assessment under chapter iv.' 6. in abraham's case : [1961]41itr425(sc) the court was concerned with the assessment of a firm of which the business was discontinued because ..... shall, in respect of the income, profits and gains of the. . association, be jointly and severally liable to assessment under chapter iv and for the amount of tax payable and all the provisions of chapter iv shall, so far as may be, apply to any such assessment.' 5. the section declares the liability for assessment under ch .....

Asgar S. Patel and ors. Vs. U.O.i. and ors.

Court : Supreme Court of India

Reported in : AIR2000SC2222; [2000]244ITR713(SC); JT2000(5)SC321; 2000(4)SCALE141; (2000)5SCC311

..... . the scheme as to purchase by central government of immovable properties in certain cases of transfer as is envisaged by chapter xx-c of the income-tax act, 1971 came to be introduced by the finance act, 1986 in place of earlier chapter xx-a and applies to transactions effected after 1st october, 1986. once the appropriate authority has, after the receipt ..... government in terms of the agreement for transfer referred to in sub-section (1) of section 269uc. section 269uf, as it originally stood prior to its amendment by the finance act, 1993 with effect from 17.11.1992, provided for the vesting in the central government of such immovable property 'free from all encumbrances' in c.b. gautam v. ..... -matter of sale to the extent of the seller's interest in the property and thus would be an encumbrance on the property. section 269ue(1) as amended by the finance act, 1993 (w.e.f. 17.11.1992) reads as under:vesting of property in central government. 269ue. (1) where an order under sub-section (1) of .....

Tamil Nadu Kalyana Mandapmam Am Assn. Vs. Union of India (Uoi) and ors ...

Court : Supreme Court of India

Reported in : AIR2004SC3757; (2004)4CompLJ108(SC); 2004(3)CTC63; (2004)188CTR(SC)297; 2004(93)ECC353; 2004(167)ELT3(SC); [2004]267ITR9(SC); [2004(4)JCR66(SC)]; JT2004(4)SC568; (2004)3MLJ

..... pleased to issue a writ of declaration or any other appropriate writ, order or direction in the nature of a writ of declaration declaring that the provisions of chapter v of the finance act, 1994 and, in particular, sections 66, 67(o) and rule 2(1)(d)(ix) of the service tax rules, 1994 and other provisions insofar as ..... scope of the service sector was proposed to be widened and a number of services were sought to be made exigible to service tax. amongst other services, chapter vi of the finance act, 1997 made the services rendered by the mandapmam -keepers exigible to service tax.6. to enable the government to widen its net of service tax, certain changes ..... the numbers were changed and the language of the provisions remained the same.10. section 66 of the finance act, 1994 was sought to be replaced by a new section which is reproduced hereinbelow:-'section 66(1) - on and from the commencement of this chapter, there shall be charged a tax (hereinafter referred to as service tax) @ 5% of the .....