Judgment Search Results Home > Cases Phrase: finance act 1978 section 2 income tax Court: kolkata Page 15 of about 18,837 results (0.292 seconds)

Griffen Laboratories Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (2000)161CTR(Cal)98,[2000]244ITR68(Cal)

..... board of direct taxes at pages 587 and 588 of the report. the central board of direct taxes opined that the provisions of sub-sections (3a) and (3b) of section 37 of the act were initially introduced by the finance act, 1978, with an object to place a curb on 'extravagant and socially wasteful expenditure ... at the cost of the exchequer'. the provisions were subsequently withdrawn ..... of sales promotion, but he has treated the distribution of medical literature and journals distributed by the company, for advertisement and sales promotion.6. sub-sections (3a) and (3b) of section 37 were initially introduced by the finance act, 1978, with an object to place a curb on extravagant and socially wasteful expenditure that was omitted after two years and again these provisions were introduced .....

In Re Mcneill, Decd. Royal Bank of Scotland Vs. Macpherson and Others.

Court : Kolkata

Reported in : [1959]37ITR16(Cal)

..... operates to discharge the legatees from all liability to contribute in any way in those sums of estate duty. it will be appreciated that by virtue of the finance act, 1949, section 27, legacy duty had ceased to be chargeable in respect of the legacies with which we are concerned before the date when they became payable, namely, on ..... these grounds, it was not suggested that any statutory provision is relevant to the matter other than the sections of the finance act, 1894, to which we have already referred, viz., section 8(4), section 9(1) and section 14(1). by reason of section 9(1), the brothers fund clearly became charged upon his death with the estate duty which became ..... on the brothers fund at all in respect of the relevant duty; that duty had long since been paid and the charge which has been imposed by section 9(1) of the finance act, 1894, in respect of it had ceased to exist. accordingly, the general principle to which we have referred has no application to the present question .....

Commissioner of Income-tax Vs. Hari Finance and Trade (P.) Ltd.

Court : Kolkata

Reported in : (2000)160CTR(Cal)435,[2000]243ITR465(Cal)

..... from april 1, 1986. sub-section (8) as inserted by the finance act, 1975, with effect from april 1, 1976, stood as under : '(8) where the assessee, being a ..... the provisions of sub-section (8) of section 40a of the act, it is difficult to follow the view taken by the madhya pradesh high court. when interest is paid on the deposits, we have to go by the definition of 'deposit' given in sub-section (8) of section 40a of the act, which reads as follows :sub-section (8) was omitted by the finance act, 1985, with effect .....

Azimganj Estates Pvt. Ltd. Vs. Deputy Commissioner of Wealth Tax.

Court : Kolkata

Reported in : (1997)57TTJ(Cal)328

..... was also got vacated for the purpose of being disposed of by sale. he has contended that the object of bringing the company to wealth-tax under the finance act, 1983, was to defeat the avoidance of personal wealth-tax by forming closely-held companies to which the tax avoider assessees transferred their unproductive assets but in this ..... (supra) the honble supreme court has laid down that the heads of income described in s. 6 and further elaborated for the purposes of computation in following sections of the it act, 1922, are intended merely to indicate the classes of income and that the heads do not exhaustively delimit sources from which income arises. business income is broken ..... from shares held as stock-in-trade. the honble high court laid down that the heads of income described in s. 6 and elaborated in the following sections do not exhaustively define sources for the purpose of computation of total income and the break up thereby indicated should not be income and the break-up thereby .....

Machino Techno Sales (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1996)59ITD303(Kol.)

..... its business of manufacturing goods it could not be 'industrial company'. for that purpose, he has placed reliance upon the explanation to the clause (c) of section 2(7) of the finance act, 1981 which is reproduced above. 4. we find no merit in such contention of learned departmental representatives. such provision has already been interpreted by the kerala ..... . the controversy reached the tribunal and in ita no. 1001/cal/1984, it was held, following the judgment of the kerala high court in cochin co. v. cit [1978] 114 itr 822 and the judgment of the andhra pradesh high court in nava bharat enterprises (p.) ltd. v. cit [1983] 143 itr 804/13 taxman 52, that ..... high court and andhra pradesh high court in the case of cochin co. v. cit [1978] 114 itr 822 and nava bharat enterprises (p.) ltd. v. cit [1983] .....

Trinidad Petroleum Development Co. Vs. Inland Revenue Commissioners.

Court : Kolkata

Reported in : [1938]6ITR667(Cal)

..... i understand, that whatever has been said in the metropolitan water board case, which was dealing with a liability for the year of assessment, cannot apply to section 33, of the finance act, 1926, assumes an assessment which, in this case, would show an assessment on the profit of pounds 69,908, and that it is only after that assessment ..... so expressed, is applied to the present case and, as i have said, i think it must be applied, we must have regard to its effect on section 33 of the finance act, 1926, which has brought the present problem before the court. the fact is that though the profits of the company during the year 1932 amounted to pounds ..... trinidad petroleum development co., appeal against an assessment which has been made upon them under rule 21 of the general rules, all schedules, income-tax act, 1918, as amended by sec. 26 of the finance act, 1927, in the sum of pounds 46,032 odd in respect of interest paid under deduction of tax to another company, the british controlled oil .....

M/S. Adyant Education Pvt. Ltd. Vs. Commr. of Central Excise, and S. T ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Kolkata

..... to the appellant for pre-deposit of the service tax amount. the appeal filed before the ld. commissioner (appeals) under section 85 of the finance act, 1994 is yet to be decided. in the result, we do not find merit in the appeal filed by the appellant before this tribunal against the order ..... of pre-deposit passed by the ld. commissioner (appeal) under section 35f of cea, 1944 as applicable to service tax cases by virtue of section 83 of the finance act, 1994. in the result, we dismiss the appeal filed by the appellant. however, the appellants are at liberty to ..... before the ld. commr. (appeals) and the appellant have come against the interim order passed under section 35f of cea, 1944 which should not to be entertained by this tribunal, as it is not an order unser section 85 of the finance act, 1994. 4. we find from the impugned order that the ld. commissioner has issued a direction .....

Moore Avenue Properties Private Ltd. Vs. Commissioner of Income-tax, C ...

Court : Kolkata

Reported in : [1966]59ITR466(Cal)

..... sums were not actually distributed within the statutory period. we are not inclined to uphold this decision.we are here concerned with section 23a as it stood after the finance act of 1955. in sub-section (1) of section 23a it is clearly provided that the income-tax officer shall make the assessee liable to pay super-tax on the undistributed ..... of the supreme court in commissioner of income-tax v. bipin chandra maganlal & co. ltd. we are confirmed in this view by section 23a as it stood before the finance act of 1955. sub-section 4 of section 23a prior to 1955 was as follows :'23a. (4) where tax has been paid in respect of any undistributed profits and gains of ..... his total income of that year.'to my mind, a similar intention has been expressed by the legislature in section 23a(1) at the time of amending it by the finance act of 1955.in the premises while applying section 23a to the facts herein, the tax authorities should have given credit for the dividends actually distributed subsequent to .....

Commissioner of Income-tax Vs. Orient Paper and Industries Ltd.

Court : Kolkata

Reported in : [1994]207ITR589(Cal)

..... pvt. ltd. : [1984]148itr544(cal) on the ground that, in that case, the question decided was about the scope of section 40(c)(iii) which was deleted by the finance act, 1968, with effect from the assessment year 1969-70. according to him, the implication of the subsequent amended provisions in a broader ..... on providing remuneration, benefit or amenity to the employees, especially to the higher paid employees. learned counsel first referred to the finance act, 1964, which substituted the old sub-clause (iii) of section 40(c) restricting the expenditure resulting directly or indirectly in the provision of any benefit or perquisite, whether convertible into money ..... to one-fifth of the amount of salary payable for the relevant period. the finance act, 1968, brought in a new section 40(a)(v) operative from the assessment year 1969-70 onwards.5. while introducing section 40(a)(v), the finance minister mentioned in the explanatory note placed before parliament the following as objects and reasons .....

Sarda Plywood Industries Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (2000)163CTR(Cal)45,[1999]238ITR354(Cal)

..... by the assessee to his employees in office, factory or other place of their work.' sub-sections (3a) and (3b) of section 37 as inserted by the finance act (no. 11 of 1983), read thus : '(3a) notwithstanding anything contained in sub-section (1), where the expenditure or, as the case may be, the aggregate expenditure incurred by ..... or exhibition.' with effect from april 1, 1981, the provisions of sub-sections (3a), (3b), (3c) and (3d) were omitted in terms of the finance (no. 2) act, of 1980. by reason of the finance act (no. 11 of 1983); explanation 2 was added to subsection (2a) of section 37 with retrospective effect from april 1, 1976, which is to the ..... from any other angle. in cit v. delhi cloth and general mills co. ltd. : [1978]115itr659(delhi) , expenditure incurred by the assessee in organising football and hockey tournaments was held to be allowable deduction under section 10(2)(xv) of the act. the same principle was reiterated in delhi cloth and general mills co. ltd. v. cit .....