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G.A. Renderian Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (1983)32CTR(Cal)318,[1984]145ITR387(Cal)

..... the tribunal was in error in basing its conclusion on the facts found by it indetermining whether the assessee was an industrial company in terms of section 2(7)(c) of the finance act, 1978. we would, therefore, answer the question in the affirmative and in favour of the assessee. in the facts and circumstances of the case, the ..... the assessee in the course of its assessment had claimed that by carrying on the above business it was an 'industrial company' in terms of section 2(7)(c) of the finance act, 1978, and so it was entitled to the concessional rate of tax allowed to such a company. in order to appreciate the contentions, it would be ..... . the assessee relied on certain decisions in support of this contention and the meaning of the expression used in the act and contended that it was an 'industrial company' in terms of the relevant section of the finance act, 1978. these contentions were repelled on behalf of the revenue. the tribunal had referred to the definition of 'industrial company' .....

Kamaraj Spinning Mills Ltd. Vs. Union of India (Uoi) and ors.

Court : Kerala

Reported in : 1983LC1462D(Kerala); 1983(14)ELT1751(Ker)

..... also the special duty (additional duty/auxiliary duty) of excise which has been levied in respect of the said goods under the finance act, 1978. it is contended therein that the relief in excise duty under the notifications is intended to recover in its scope both the basic duty of ..... second category of the exemption notifications grant exemption from so much of the special/additional/auxiliary duty leviable 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 provisions read with any notification. here again the ..... etc. and, perhaps most important of all, the act also lays down or declares the charge of customs duty. section 12 of act is the charging section. somewhat in the manner of the income-tax act, which relegates the actual rates of income tax to the annual finance acts, section 12 of the customs act too relegates the enumeration of dutiable goods and the .....

Commissioner of Income-tax Vs. Tara Agencies

Court : Kerala

Reported in : (2000)159CTR(Ker)325; [2000]243ITR336(Ker)

..... one type with another and selling the tea so blended in packets can be brought under the definition of an industrial company, in terms of section 2(7)(c) of the finance act, 1978. the court took the view that the blending operation done by the assessee would come within the term 'process' in the definition of industrial ..... the claim of the assessee for weighted deduction in respect of the expenditure incurred in connection with the exports in view of the provisions of section 35b(1a) introduced by the finance act, 1978. the commissioner of income-tax (appeals) upheld the claim of the assessee for weighted deduction on the ground that the assessee was a ..... weighted deduction in respect of the expenditure incurred in connection with the exports in view of the provisions of section 35b(1a) introduced by the finance act, 1978. the above provision which came into effect from april 1, 1978, was omitted by act 21 of 1979 with effect from april 1, 1980. therefore, as far as the assessment year 1979 .....

Commissioner of Income Tax Vs. Hydle Constructions Pvt. Ltd.

Court : Delhi

Reported in : [2003]259ITR344(Delhi)

..... income tax v. elemech industrial constructions , : [1998]229itr503(ap) followed the aforesaid decision ofbeehive engineering co.'s case (supra) stating:-'for the purposes of section 2(7)(c) of the finance act, 1978,a division bench of this court, of which one of us, i.e., syed shah mohd. quadri, j., was a member, in cit v. beehive ..... bench of the andhra pradesh high court upon referring to the interpretation of the term 'industrial company', as given in clause (c) of sub-section (7) of section 2 of the finance act of 1978, held:-'from the above extract, two things are clear, viz., (i) that for a company to be an 'industrial company' within the ..... v. shah construction co. ltd. (1983) 142 itr 696, relied upon by sri. murthy, are no doubt not decisions rendered under section 80hh or under section 84 -- they arose under the relevant finance acts, the question being whether the assessed were industrial companies -- but they do contain observations which tend to support the stand of the revenue. .....

Commissioner of Income-tax Vs. Lakshmi Industries (P.) Ltd.

Court : Chennai

Reported in : [1996]222ITR36(Mad)

..... income earned by leasing out the factory and the machinery would be entitled to the concessional rate of tax under section 2(7)(c) of the finance (no. 2) act, 1977, and the finance act, 1978.6. section 2(7)(c) of the finance (no. 2) act, 1977, states as under (see : [1977]109itr1(all) : ''industrial company' means a company which ..... by itself during the assessment years under consideration. the assessee claimed the concessional rate of tax of 55 per cent. under section 2(7)(c) of the finance (no. 2) act, 1977, and the finance act, 1978. according to the department, inasmuch as the assessee was not mainly engaged in the manufacturing activities, it cannot be considered as ..... on the ground that the assessee was an industrial company as defined under section 2(7)(c) of the finance (no. 2) act, 1977. so also for the assessment year 1978-79, the assessee claimed the same benefit under section 2(7)(c) of the finance act, 1978. however, the income-tax officer denied this concession on the ground that .....

Commissioner of Income-tax Vs. Srikrishna Tiles and Potteries (Madras) ...

Court : Chennai

Reported in : [1992]198ITR341(Mad)

..... and a company which fulfills the requirement of the main definition has to be automatically regarded as an 'industrial company' for the purposes of section 2 and the first schedule to the finance act, 1966. we are of the view that the reasoning of the aforesaid decision would be applicable to these references as well. 8. we ..... decision in cochin co. v. cit : [1978]114itr822(ker) . in that case, the assessee-company during the relevant accounting year was engaged solely in the business of processing and export of fish and it also satisfied the requirement of 'industrial company' contained in section 2(7) (d) of the finance act, 1966, resulting in a concessional rate of tax ..... the explanation was intended only to expand or clarity and not to restrict or subtract from the scope of section 104(4)(a) of the act. attention in this connection was also drawn to the decision in cochin co. v. cit : [1978]114itr822(ker) . 3. there is no dispute that the assessee in this case, during the relevant .....

C I T W Biv,cal. Vs. M/S.The Indian Textile Co.Ltd.

Court : Kolkata

..... was issued on 21st march, 2000 on the following question: whether, on the facts and in the circumstances of the case, and in view of the provision of section 2(7)(c) of the finance act, 1978, the ld.tribunal was justified-in-law in upholding the decision of the cit(a) in treating the assessee company as an industrial company , while denied by ..... the assessing officer?. however, from the report dated 27th june, 2014 prepared by the assistant registrar, appeal section, o.s., it appears that the appellant/revenue did not take delivery .....

Cit Vs. Hydle Constructions (P) Ltd.

Court : Delhi

Reported in : (2002)178CTR(Del)119

..... in cit v. elemech industrial construction : [1998]229itr503(ap) followed the aforesaid decision of beehive engineering co.'s case (supra) stating :'for the purposes of section 2(7)(c) of the finance act, 1978, a division bench of this court, of which one of us, i.e., syed shah mohd. quadri, j., was a member, in cit v. beehive ..... division bench of the andhra pradesh high court upon referring to the interpretation of the term 'industrial company', as given in clause (c) of sub-section (7) of section 2 of the finance act of 1978, held :'from the above extract, two things are clear, viz., (i) that for a company to be an 'industrial company' within the ..... . shah construction co. ltd. (1983) 142 itr 696 , relied upon by sri. murthy, are no doubt not decisions rendered under section 80hh or under section 84 they arose under the relevant finance acts, the question being whether the assesses were industrial companies but they do contain observations which tend to support the stand of the revenue.it .....

S.P. Jaiswal Estates Pvt. Ltd. Vs. Commissioner of Income-tax (No. 1)

Court : Kolkata

Reported in : [1994]209ITR298(Cal)

..... manufacture or processing of goods and the assessee-company running a restaurant in that case was held to be an industrial company within the meaning of section 2(7)(c) of the finance act, 1978. there the court held that the word 'processing' was broad enough to take in the activity of processing of goods and rendering the eatables ..... tea of different qualities and blending the same by mixing one type with another, claimed that it was an industrial company within the meaning of section 2(7)(c) of the finance act, 1978, and was entitled to concessional rate of tax. this court held that the assessee was an industrial company entitled to this benefit. there, this ..... was engaged in processing of goods and accordingly, the court held that the sky room private limited was an industrial company within the meaning of section 2(7)(c) of the finance act, 1978. there the court held that the word 'processing' is broad enough to take in the activity of purchasing of goods and rendering them edible .....

D.D. Shah and Brothers Vs. Union of India (Uoi) and anr.

Court : Rajasthan

Reported in : (2005)197CTR(Raj)1; [2006]283ITR486(Raj); 2004(3)WLC425

..... (supra) is also of little assistance. this was a case in which the court was considering the merit of the expression 'industrial company' as used in section 2(7)(c) of the finance act, 1978. under the finance act, 1978, 'industrial company' was defined to mean a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power ..... or in the construction of ships or in the manufacture or processing of goods or in mining. apparently, the benefit of section 2(7)(c) in terms of the finance act, 1978, was also extended to the industrial company which was engaged in only processing of goods. blending is processing of tea and thus there was no difficulty .....