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Commissioner of Income Tax, Bombay and ors. Vs. Mahindra and Mahindra ...

Court : Supreme Court of India

Reported in : AIR1984SC1182; (1983)3CompLJ30(SC); [1983]144ITR225(SC); 1983(2)SCALE222; (1983)4SCC392; [1983]3SCR773

..... to amalgamation, namely manufacture and sale of agricultural tractors and allied impliments.6. section 72a of the income tax act, 1961 (herein-after referred to as the act) was inserted therein by finance act no. 2 of 1977 with effect from 1.4.1978. this section enables an amalgamated company to carry forward and set off accumulated loss and ..... unabsorbed depreciation allowance in certain cases of amalgamation on fulfilment of the conditions mentioned in clauses (a), (b) and (c) of sub-section (1) ..... of the income for the said assessment year by the amalgamating company for claiming the benefit of the section.7. on april 27, 1978, m&m; made an application in the approved form under section 72a of the act for the grant of relief of the requisite declaration from the central government which was received by .....

Commissioner of Income Tax, Kerala Vs. Tara Agencies

Court : Supreme Court of India

Reported in : (2007)210CTR(SC)454; 2007(214)ELT491(SC); [2007]292ITR444(SC); JT2007(9)SC65; 2007(3)KLT624(SC); 2007(9)SCALE100; (2007)6SCC429

..... different qualities, blending the same by mixing one type with another and selling it. the assessee 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. the tribunal disallowed the claim on the ground that there was no processing as the end product remained the same ..... properly comprehend the controversy involved in this case, it would be proper to reproduce section 35b(1a)&(2) as introduced by the finance act, 1978:(1a) notwithstanding anything contained in sub-section (1), no deduction under this section shall be allowed in relation to any expenditure incurred after the 31st day of march, 1978, unless the following conditions are fulfilled, namely:a) the assessee referred to in .....

Commissioner of Income-tax, U.P., Lucknow Vs. J.K. Hosiery Factory, Ka ...

Court : Supreme Court of India

Reported in : (1986)52CTR(SC)142; [1986]159ITR85(SC); 1986(1)SCALE471; 1986(Supp)SCC104; [1986]1SCR907; 1986(2)LC128(SC)

..... the assessment of the firm should be carried forward and set off against its business profits of the subsequent years. though the 'firm tax' was levied under the finance act each year, it was a part and parcel of the income-tax which was levied under the provisions of the income-tax ..... court in the case of commissioner of income-tax, bombay city ii v. estate and finance ltd., : [1978]111itr119(bom) . where the division bench observed that when enacting the provision regarding carry forward and set off of unabsorbed depreciation under section 32(2) of the income-tax act, 1961, the legislature could have imposed a condition that unabsorbed depreciation could be set ..... we are not presently concerned. 14. having regard to the scheme of the relevant provisions and in view of the provisions of section 10(2)(vi) read with section 24(1) and section 24(2) of the 1922 act, we are of the opinion that the deduction of the unabsorbed depreciation should have been allowed. it is necessary to bear in .....

Renusagar Power Co. Ltd. Vs. General Electric Co.

Court : Supreme Court of India

Reported in : AIR1994SC860; 1994(2)ARBLR405(SC); [1994]81CompCas171(SC); 1993(4)SCALE44; 1994Supp(1)SCC644; [1993]Supp3SCR22

..... raised by renusagar, the arbitral tribunal had issued a further notice on september 2, 1985 stating that the effect of the rejection of the application under section 3 of the foreign awards act would be considered as a preliminary issue at the scheduled meeting of the arbitral tribunal fixed for october 1, 1985. the submission of shri venugopal ..... by the respondent on the ground that the loans given by the appellant to the respondent were invalid and illegal being contrary to regulation 2(1) of the defence (finance) regulations, 1939. the said claim of the appellant was allowed by the trial judge, but on appeal, it was dismissed by the court of appeal. the house ..... english court will exercise such a jurisdiction with extreme reserve'. vervaeka v. smith (1983) 1 ac 14555. in dalmia dairy industries ltd. v. national bank of pakistan (1978) 2 llo. l. r 223 the court appeal extend the doctrine of public policy to embrace the principle that the english courts of should refuse to enforce an award .....

M/S. Chillies Exports House Ltd. Vs. Commissioner of Income-tax

Court : Supreme Court of India

Reported in : AIR1997SC2223; (1997)140CTR(SC)1; [1997]225ITR814(SC); JT1997(4)SC705; 1997(3)SCALE562; (1997)5SCC157; [1997]3SCR907

..... /s. mysodet pvt. ltd. bangalore by paying charges therefore under a contract. on the basis of these facts, the high court in the earlier decision : [1978]115itr73(mad) : [1978]115itr73(mad) concluded that the relevant section of the finance act - section 2(6)(c) - suggests that the appellant company itself should engage in the entire activity which leads to the final processing of the goods. in ..... the assessment year 1971-72 and the court held that the assessee is not an industrial company coming within the meaning of section 2(6)(c) of the finance act no. 2 of 1971. the said decision is reported in : [1978]115itr73(mad) : [1978]115itr73(mad) . when the matter came up for consideration in subsequent years 1974-75, 1976-77 and 1977-78, the earlier .....

Association For Democratics Reforms Vs. Union Of India

Court : Supreme Court of India

..... to financial contributions to political parties focusses on (a) contributions by corporate 1 electoral bond scheme or scheme 2 finance act 3 section 135 of the finance act 2017; rbi act 4 section 137 of the finance act 2017; rpa 5 section 11 of the finance act 2017; it act 6 section 154 of the finance act 2017; companies act 4 part a entities; (b) disclosure of information on contributions; and (c) income tax exemptions for donations. i ..... 1978 to exempt the income of political parties through voluntary 174 the companies act 2013; section 2(40) 175 the companies at 2013; section 137 121 part f contributions for tax purposes (ostensibly to curb black money). it is clear as day light that the purpose of mandating the disclosure of contributions made by companies was not merely to curb black money in electoral financing .....

Union of India and ors. Vs. M.V. Valliappan and ors.

Court : Supreme Court of India

Reported in : AIR1999SC2526; (1999)155CTR(SC)193; [1999]238ITR1027(SC); JT1999(5)SC134; 1999(4)SCALE290; (1999)6SCC259; [1999]3SCR1146

..... of justification for treating hindu undivided families separately in a hostile manner with reference to the date december 31, 1978, the choice or the date being clearly arbitrary.(6) the operation of section 171(9) of the income-tax act, 1961, is restricted only to cases where a claim in respect of a partial partition which is effected ..... having taken place shall be inquired into under sub-section (2) and no finding shall be recorded under sub-section (3) that such partial partition has taken place. if any such finding is recorded under sub-section (3) whether before or after 18th june, 1980 being the date of introduction of finance bill (no. 2) 1980, the same shall ..... be null and void. the effect of the aforesaid sub-section is that for the purposes of income-tax partial partitions taking place .....

imperial Chit Funds (P) Ltd. Vs. Income-tax Officer, Ernakulam

Court : Supreme Court of India

Reported in : 1996IIIAD(SC)488; AIR1996SC1887; I(1996)BC659(SC); [1996]86CompCas555(SC); (1996)133CTR(SC)505; [1996]219ITR498(SC); JT1996(3)SC410; 1996(1)KLT699(SC); 1996(3)SCALE20; (199

..... income-tax dues of the company including that which may thereafter become payable. when we read this provision with the provision in sub-section (4) of section 178 of the act which makes liquidator personally liable for the payment of the tax which the company would be liable to pay if the liquidator failed ..... tax officer, circle i, ward-e, ahmedabad, and ors. : [1976]102itr153(guj) , income-tax officer, company circle xvii, new delhi, and ors. v. narula finance p. ltd. (in liquidation) : [1978]114itr645(delhi) and income-tax officer, district 11(2) additional, new delhi v. official liquidator, national conduits (p) ltd. : [1981]128itr228(delhi) (delhi) have taken ..... a contrary view and have held, that the provisions of section 178 of the income tax act do not affect or alter the existing law .....

Mettur Chemical and Industrial Corporation Limited Vs. Commissioner of ...

Court : Supreme Court of India

Reported in : (1996)132CTR(SC)389; [1996]217ITR768(SC); 1995(6)SCALE468; 1995Supp(4)SCC732

..... shri ramachandran, learned counsel for the appellant, that the new industrial undertaking was entitled to the benefit of the provisions of section 84 of the act corresponding to section 15(c) of the income tax act, 1922 in the year 1962-63 because the new industrial undertaking consisted of sixty hooker cells and rectifier and the same ..... assessee for the purpose of the special deduction provided under section 80e, items of unabsorbed depreciation and unabsorbed development rebate, carried forward ..... supply industrial co. ltd. v. commissioner of income-tax, gujarat-ii, : [1978]113itr84(sc) , this question is no longer res integral. dealing with a similar provision i.e. 80 e of the act prior to its amendment by the finance (no. 2 ) act, 1967, this court came to the conclusion that in computing the profits of the .....

M/S. Hindustan Zinc Ltd. Etc. Vs. Andhra Pradesh State Electricity Boa ...

Court : Supreme Court of India

Reported in : AIR1991SC1473; JT1991(2)SC403; 1991(1)SCALE869; (1991)3SCC299; [1991]2SCR643

..... authority, by notification in the official gazette, lay down from time to time.(2) omitted(3) the provisions of this section shall apply to the charging of depreciation for the year in which the electricity (supply) amendment act, 1978, comes into force. xxx xxx xxx68-a. directions by the state government.-(1) in the discharge of its functions, the ..... the scheme of section 59 and it is section 59 as amended by 1978 act but prior to its amendment by the 1983 act, with which we are concerned in the present case. 24. it cannot be doubted that section 59 requiring the board to adjust its tariffs for the purpose of board's finance is to be read along with section 49 which ..... provides specifically for fixation of tariffs and the manner in which that exercise has to be performed while dealing with any question relating to the revision of tariffs.25. it was argued on behalf of the appellants that section 59 as amended by the 1978 act did not .....