Court : Kerala
Reported in : [1979]117ITR599(Ker)
..... finance act, 1966 ; and section 80f was added by the finance act, 1967. section 80-i was added by the finance (no. 2) act of 1967 on april 1, 1968, and was deleted by the finance act, 1972, with effect from april 1, 1973. section 80-i as it stood at the ..... that, on the whole, the view taken by the tribunal was correct. section 80a(1) was one of those sections in chap. vi-a of the i.t.act, 1961, which was newly introduced by the finance act of 1965, at the time, it was so introduced, it consisted only of four sections--sections 80a to 80d. section 80e was added by the ..... as reduced by the deduction under section 80h in relation to such profits and gains.' (5% is a substitution for 8% by the finance act 2 of 1971). 4. on the language of section 80-i of the act, it is difficult to read into the sectionthe requirement that the priority industry must have actually carried on business during the accounting year. .....
Tag this Judgment!Court : Kerala
Reported in : [1979]44STC312(Ker)
..... combination thereof. these considerations are reflected in the four principal phases of frozen fish production and handling; namely, packaging, freezing, cold storage and transportation, described in this chapter.at page 440, under the heading of 'storage of frozen fish' is to be found the following:fishery products may undergo undesirable changes in flavor, odor, appearance, ..... appellant's counsel in w.a. no. 107 of 1976 associated himself with the argument of the revision petitioners in tax revision cases nos. 39 to 41 of 1978. besides the cases cited by the counsel for the revision petitioners in the tax revision cases, in support of the interpretation of the terms in the commercial sense ..... entries in the first schedule thereto:s.r.o. no. 342/63.--in exercise of the powers conferred by section 10 of the kerala general sales tax act, 1963 (act 15 of 1963), the government of kerala having considered it necessary in the public interest so to do hereby make an exemption in respect of the tax .....
Tag this Judgment!Court : Kerala
Reported in : (1979)IILLJ1Ker
..... , k.g. mathew v. director, n.i.c. ltd. 1976 i l.l.j. 27 and a.a. mathan v. u.i. gen. ins. co. 1978 i l.l.j. 259, wherein ramanujam, j., had taken a view contrary to what i have taken above. with respect i disagree with his conclusions for the reasons ..... of the constitution, to answer this question it is necessary to find out the scope and the effect of the general insurance business (nationalisation) act, 1972 (act 57 of 1972). the act is passed to provide for the acquisition and transfer of shares of indian insurance companies and undertakings of other existing insurers in order to serve ..... as may be provided under the scheme framed by the central government under section 9 of the act. similarly oil and natural gas commission, industrial finance corporation are all corporations established by statute. they are similar statutory corporations established by central and state acts. such statutory bodies are corporations or 'other authorities' under articles 12. the expression 'authority' .....
Tag this Judgment!Court : Kerala
Reported in : [1980]121ITR178(Ker)
..... shall be included all income on which no income-tax is payable, under chapter vii. chapter vii provides for incomes forming part of total income on which no tax is payable. this chapter originally contained sections 81 to 85(c). sections 81 to 85 were deleted by the finance act no. 2 of 1967. sections 86 and 86a are the sections now retained ..... in this chapter. section 110 of the act provides that where there is included in the total income of the ..... assessee any income on which no income tax is payable under the provisions of the act, the assessee shall be entitled .....
Tag this Judgment!Court : Kerala
Reported in : [1979]44STC208(Ker)
..... assessment.in gurbaksh singh v. union of india [1976] 37 s.t.c. 425 (s.c.) the supreme court considered the revisional power under the bengal finance (sales tax) act, 1941. the principal point that was canvassed was that, in exercising the revisional power, the revisional authority is fettered by a period of limitation which is provided ..... deputy commissioner's power in exercising the revisional jurisdiction to pass the impugned order was questioned for the same reasons as in t.r.c. no. 12 of 1978. for the reasons stated, while dealing with the said revision, the deputy commissioner had power and jurisdiction to direct the sales tax officer to examine the matter afresh ..... , the tribunal was right in sustaining the said order. we dismiss this revision with no order as to costs.t.r.c. no. 75 of 1978.--in this tax revision, subsequent to the assessment order, there was a search by the intelligence officer, which disclosed that turnover from certain transactions had not been assessed .....
Tag this Judgment!Court : Kerala
Reported in : AIR1980Ker137
..... which it has given). the only remaining question that is to be considered is whether the 75 acres of land which the appellant in m.f.a. no. 346 of 1978 contends are liable for exclusion as sites of buildings and lands appurtenant to and necessary for the convenient enjoyment and use of such buildings. the forest tribunal, manjeri, had ..... appropriate that a full bench of this court should consider this'.9. mr. k.p. kesava menon, learned counsel for the appellant in m.f.a. no. 346 of 1978 and for the respondents in the other case pointedly brought to our attention paragraph 60 of the supreme court decision in malankara rubber and produce co. v. state of kerala ..... an owner under a valid registered document of title executed before the appointed day and intended for cultivation by him, which together with other lands held by him to which chapter iii of the kerala land reforms act, 1963, is applicable, does not exceed the extent of the ceiling area applicable to him under sec. 82 of the said .....
Tag this Judgment!Court : Kerala
Reported in : [1979]120ITR675(Ker)
..... computed without making any allowance under sub-section (1) or sub-section (1a) of this section or sub-section (1) of section. 33a or any deduction under chapter via or section 280-0 is nil or is less than the full amount of the development rebate calculated at the rate applicable thereto under sub-section (1) or ..... assessee contended that the assessee was clearly entitled to the benefit of development rebate. our attention was called to the recent decisions of this court in rajarajeswari weaving mills' case : [1978]113itr405(ker) and the full bench decision of this court in i.t.r. no. 56 of 1976 (since report-in c1t v. b. m. edward, india sea ..... without making the debit aforesaid) in accordance with the profit and loss account.' our attention was also called to the provisions of section 10(2)(vi)(b) of the 1922 act, which reads as follows: ' 10. (2) such profits or gains shall be computed after making the following allowances, namely :--...... (vi) in respect of depreciation of such .....
Tag this Judgment!Court : Kerala
Reported in : 1979(4)ELT602(Ker)
..... 27-1-1975. thepetitioner challenged these orders in revision before the government of india.by the order ext p.9 dated 19-4-1976 the joint secretary, ministry of finance,dismissed the revision. in o.p. 3446 the petitioner seeks to quash these threeorders-exts. p.4, p6 and p9-by a writ of certiorari or other ..... 5. the second respondent in each case has filed a counter affidavit on behalf of the respondents contesting the original petition. 6. in writ appeal no. 302 of 1978 this bench had occasion to examine at length the concept of the expression 'excise duty' and consider its ambit in relation to the question whether it embraces post-manufacturing ..... the madras high court, the supreme court observed that those provisions were therefore void and that 'it follows thatin the instant case, the sales tax authorities have acted outside the act in 'making an assessment on the basis of the relevant part of the charging section which was declared to be ultra vires by this court.' on this .....
Tag this Judgment!Court : Kerala
Reported in : [1980]126ITR522(Ker)
..... will be given on production by the assessee of necessary particulars. treating the assessee as an ' industrial company ' as defined in section 2(7)(d) of the finance (no. 2) act, 1967, the ito in making the aforesaid assessment applied a concessional tax rate of 55%. an appeal was filed by the assessee-company before the aac, ernakulam, ..... s income from manufacturing or processing of goods came to less than 51% as required by the explanation to the definition of ' industrial company ' in the finance (no. 2) act, 1967. the ito was further of the opinion that the export profit rebate was allowable only on the balance of the profits of the assessee-company after ..... tax had escaped assessment. the question whether the assessee-company could be regarded as an ' industrial company ' as denned in section 2(7)(d) of the finance (no. 2) act, 1967, as well as the further question whether the profits realised by the assessee by sale of the import entitle merits could be treated as export profits .....
Tag this Judgment!Court : Kerala
Reported in : (1981)20CTR(Ker)26; [1981]127ITR227(Ker)
..... these references have thereafter been made to this court by the tribunal at the instance of the department.5. section 12 of the act as it stood at the relevant time (prior to the amendment introduced by the finance act, 1972) was in the following terms :' 12(1) any income of a trust for charitable or religious purposes or of a ..... the limited company which form the subject-matter of the donation. in doing so, the ito took the view that the provisions of section 12(2) of the act were attracted to these cases and the contributions made to the assessee-trust by the donor-trust had to be deemed to be income derived by the assessee-trust from ..... the purpose of section 11 as income of the assessee-trust '2. the assessees (respondents) are two public charitable trusts to which the provisions of section 11 of the act are admittedly applicable. the relevant assessment year is 1971-72 for which the accounting period is the financial year ending march 31, 1971. during the course of the accounting .....
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