Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Sorted by: old Court: mumbai Page 95 of about 1,733 results (0.082 seconds)

Modistone Limited Vs. Modistone Employeers' Union and Anr.

Court : Mumbai

Reported in : 2001(2)ALLMR607; 2001(3)BomCR436; (2001)2BOMLR851; [2001(89)FLR867]; (2001)ILLJ1598Bom

..... the appropriate government whenever an industrial dispute is referred, to pass an order prohibiting the continuance of the strike or lockout in connection with such a dispute. chapter vc deals with unfair labour practices. it consists of section 25-t and section 25-u. section 25-t prohibits unfair labour practices and section 25-u ..... which have taken place on 16th september and 20th september 1997. in the first case, the union representative entered in the cabin of the manager (accounts & finance) in a threatening manner and asked him to make arrangement for canteen provision as he has allowed the material belonging to m/s. balkrishna tyres and ceat ..... counsel pointed out that the company is now a sick industrial company under the sick industrial companies [special provisions) act, 1985 and registered as such (case no. 34 of 1998) before the board of industrial and finance reconstruction vide order dated 15.4.1998. the company has accumulated losses for the period ending 30th september, 2000 .....

Mandhana Exports (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD306(Mum.)

..... "profits and gains of business or profession". income under the head "profits and gains of business or profession" is to be computed under chapter iv-d. section 28 of the income-tax act enumerates the various types of income which is chargeable to income-tax under the head "profits and gains of business or profession". as per ..... 80b(5) is as under: - (5) 'gross total income' means the total income computed in accordance with the provisions of this act, before making any deduction under this chapter.deduction under section 80-1 is under chapter vi-a. thus, for determining the gross total income, income is to be computed in accordance with the provisions of income-tax ..... deduction under section 32,ie., chapter iv. therefore, for determining gross total income for the purpose of section 80-1,depreciation has to be considered.12. while taking this view, we derive support from the decision of hon'ble apex court in the case of cambay electric supply industrial co.ltd. v. cit [1978] 113 itr 84. in .....

Vijaya Bank Vs. Maker Development Services Pvt. Limited

Court : Mumbai

Reported in : 2001(4)ALLMR143; 2001(3)BomCR652

..... consideration together with interest at 21% per annum from the date of exercise of the option till the appellant executed the necessary form 37-i under chapter xx-c of the income tax act; for consequential directions to effectuate a decree of specific performance of the agreement; a declaration that on and from 31.3.98 the appellant was ..... other law for the time being in force, in matters governed by part i, no judicial authority shall intervene except where so provided in that part. chapter vii is the only chapter in part i which deals with the recourse against an arbitral award. section 34 provides that recourse to a court against an arbitral award may be made ..... was repaid by the respondent to the appellant bank. 5. the leave and licence agreement was to come to an end on 31st march, 1998. on 27th february, 1978, the appellant addressed a letter to the respondent and informed it that the appellant would like to continue its possession of the suit premises and called upon , the respondent .....

Mandhana Exports (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the head "profits and gains of business or profession". income under the head "profits and gains of business or profession" is to be computed under chapter iv-d. section 28 of the it act enumerates the various types of income which is chargeable to income-tax under the head "profits and gains of business or profession". as per section 29 ..... under section 32, i.e., chapter iv. therefore, for determining gross total income for the purpose of section 80-i, depreciation has to be considered.12. while taking this view, we derive support from the decision of hon'ble apex court in the case of cambay electric supply industrial co.ltd. v. cit (1978) 113 itr 84 (sc). ..... their lordships held as under : "the profits and gains of an industrial undertaking to which section 84 of the it act, 1961, applies have to be computed in accordance with the provisions contained in chapter iv-d of the act and development rebate has first to be deducted from the total income and it is only thereafter, if any profits .....

M. Visvesvaraya Industrial Research and Development Centre Vs. Income- ...

Court : Mumbai

Reported in : (2003)179CTR(Bom)130; [2001]251ITR852(Bom)

..... centre. the assessee decided to borrow loans from the lic. however, that transaction did not materialise. therefore, the assessee decided to raise the necessary finance for construction purposes by taking lease rent in advance from prospective lessees on a 60 year lease basis. the advance rent for 60 years was collected ..... charitable institution. they accordingly, filed the return of income in the prescribed form. accordingly, the assessee claimed exemption under section 11 of the income-tax act. till the assessment years in question, the department has accepted the tax returns and, had accordingly, made the assessments under section 143 read with section ..... of revenue also notified the petitioner-assessee as council of scientific and industrial research for the purposes of section 35(1)(ii) of the income-tax act, 1961. accordingly, the assessee was recognised as a scientific research institution by the central board of direct taxes right from its inception. this recognition continued .....

Life Insurance Corporation of India Vs. Joint Cit

Court : Mumbai

Reported in : (2002)74TTJ(Mumbai)624

..... the objects and reasons for enacting the legislation were referred to ( : [1992]196itr31(all) ). the tax was withdrawn in 1978, reintroduced in a modified form in 1980 and again withdrawn in 1985. on its reintroduction by finance (no. 2) act, 1991, with effect from 1-10-1991, the scope was enlarged by inserting sub-section (2) in section 4 to ..... into effect from 1-8-1974 and remained in force upto 28-1-1978. it was revived from 1-7-1980 and continued upto 31-3-1985. finance (no. 2) act, 1991 again brought into force the act with effect from 1-10-1991. the operation of the act has again been suspended since 1-4-2000. in its last reincarnation in ..... . as stated earlier, exclusion of interest on securities from the taxability to interest tax act led to ambiguity. hence, the speech of the finance minister, at the time of re-introducing the interest tax act, in the year 1991 by amending act no. 45/74 by finance act, 1992, can be relied on to clarify the position. if the legislature intended to .....

Lic of India Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD749(Mum.)

..... objects and reasons for enacting the legislation were referred to [(1974) 96 itr (st) 31). the tax was withdrawn in 1978, reintroduced in a modified form in 1980 and again withdrawn in 1985. on its reintroduction by finance (no. 2) act, 1991 w.e.f. 1st oct., 1991, the scope was enlarged by inserting sub-section (2) in section 4 ..... effect from 1st aug., 1974 and remained in force upto 28th jan., 1978. it was revived from 1st july, 1980 and continued upto 31st march, 1985.finance (no. 2) act, 1991, again brought into force the act w.e.f. 1st oct., 1991. the operation of the act has again been suspended since 1st april, 2000. in its last reincarnation ..... as stated earlier, exclusion of interest on securities from the taxability to interest-tax act led to ambiguity. hence, the speech of the finance minster, at the time of re-introducing the interest-tax act, in the year 1991, by amending act no. 45/74 by finance act, 1992, can be relied on to clarify the position. if the legislature intended to .....

Life Insurance Corporation of Vs. Joint Commissioner of Interest

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the objects and reasons for enacting the legislation were referred to (196 itr 31 (st)]. the tax was withdrawn in 1978, reintroduced in a modified form in 1980 and again withdrawn in 1985. on its reintroduction by finance (no. 2) act, 1991, w.e.f. 1st oct., 1991, the scope was enlarged by inserting sub-section (2) in section ..... effect from 1st aug., 1974, and remained in force upto 28th jan., 1978. it was revived from 1st july, 1980, and continued upto 31st march, 1985.finance (no. 2) act, 1991, again brought into force the act w.e.f. 1st oct., 1991. the operation of the act has again been suspended since 1st april, 2000. in its last reincarnation in ..... stated earlier, exclusion of interest on securities from the taxability to interest-tax act led to ambiguity. hence, the speech of the finance minister, at the time of re-introducing the interest-tax act, in the year 1991, by amending act no. 45 of 1974 by finance act, 1992, can be relied on to clarify the position. if the legislature intended .....

Mahesh Bhatt Vs. Asstt. Cit

Court : Mumbai

Reported in : (2004)87TTJ(Mumbai)734

..... in our view, the afforested decision has no application to the case on hand. it may be noted that explanation 2 to section 158be inserted by finance (no. 2) act, 1998, with retrospective effect from i-7-1995, clarifies that the authorisation shall be deemed to have been executed on the conclusion of search as recorded ..... decisions rendered by the bangalore bench of the tribunal, it is necessary to briefly state the facts of those cases.10. in the case of kirloskar investments & finance ltd. (supra), the facts are that the business premises of the assessee were searched on 30-3-1996 and certain documents were seized. simultaneously, the authorities issued ..... the assessing officer is not empowered to draw any presumption as to the existence of undisclosed income. the scheme of chapter xiv-b does not give such power to the revenue authorities. the income tax act provides adequate guard for making additions or disallowances on the basis of presumptions and assumptions by taking inference from the .....

Agromore (P) Ltd. and anr. Vs. Chembond Chemicals Ltd. and anr.

Court : Mumbai

Reported in : 2002(2)ALLMR711; 2002(5)BomCR392; (2002)1BOMLR853; 2002(25)PTC532(Bom)

..... their business in india, the plaintiff continued to use the trade mark rodine and, therefore, because of the continued user of the trade mark by the plaintiff from 1978 onwards, the plaintiff acquired common law rights to prevent anybody else from using that trade mark. the learned counsel submits that the property in a trade mark is ..... the plaintiffs to the said amchem corporation was merely a formality. in this affidavit, it is claimed that amchem abandoned the trade mark by its conscientious and deliberate act of non-renewal of the trade mark rodine in 1977 when it became due. the defendants have claimed in their reply that the plaintiff is guilty of suppressing ..... mark rodine in theirname in class-i under no. 626174 in respect of chemical product used in industries under the 4th schedule to the trade and merchandise marks act, 1958. the plaintiff further claims that they are also proprietor of the trade mark rotodine. the trade mark rotodine has been registered in india under no. 378342 .....