Judgment Search Results Home > Cases Phrase: finance act 1978 section 2 income tax Page 7 of about 335,566 results (0.645 seconds)

Commissioner of Service Tax, Service Tax Vs. M/S. Scott Wilson Kirkpat ...

Court : Karnataka

..... to which the taxable services for which the payment is received in india is convertible foreign exchange is exempted from the whole of service tax under section 66 of the finance act, 1994. therefore, the demand of differential tax is unsustainable both on merits and on the ground of limitation. therefore, it set aside the order ..... purpose and is included in the connotation of the term assessment. the reasons which led us to give a comprehensive meaning to the word assessment in section 13(i) of the finance act, 1950, operate equally with regard to the saving provisions under present consideration. 18. the supreme court in the case of c.a.abraham vs ..... fall under a particular heading or sub-heading of the schedule to the central excise tariff act, 1985, or the additional duties of excise (goods of special importance) act, 1957 or the additional duties of excise {textiles and textile articles) act, 1978, or that any goods are or not covered by a particular notification or order issued .....

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 .....

Cit Vs. Parmatma Saran (Huf)

Court : Allahabad

Reported in : [2005]142TAXMAN194(All)

..... it in clause (b) of the explanation to section 171 of the income tax act.'5. sub-section (9) was also inserted in section 171 of the income tax act by the same finance act. it reads as follows :'(9) notwithstanding anything contained in the foregoing provisions of this section, where apartial partition has taken place afterthe 31-12-1978, among the members of a hindu undivided family hitherto ..... assessed as undivided,(a) no claim that such partial partition has taken place shall inquired into under sub-section (2) and no .....

Commissioner of Wealth Tax Vs. Parmatma Saran (Huf)

Court : Allahabad

Reported in : (2004)191CTR(All)282; [2004]270ITR389(All)

..... the explanation to section 171 of the it act.'5. sub-section (9) was also inserted in section 171 of the it act by the same finance act. it reads as follows :'(9)--notwithstanding anything contained in the foregoing provisions of this section, where a partial partition has taken place after the 31st day of december, 1978, among the members ..... of an huf hitherto assessed as undivided,(a) no claim that such partial partition has taken place shall be inquired into under sub-section ..... for the revenue submitted that on a plain reading of section 20a of the act, which was inserted by finance (no. 2) act, 1980 w.e.f. 1st april, 1980, a partial partition which has taken place after 31st day of december, 1978, has not been recognised and the huf would continue to .....

H.F. Craig Harvey Vs. Third Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1988)25ITD1(Mad.)

..... into account the amendments brought about in section 55(2)(i) of the act with reference to the date of substitution which was originally 1-1-1954, which was later on amended as 1-1-1964 by the finance (no. 2) act of 1977 with effect from 1-4-1978 and subsequently as 1-4-1974 by the finance act of 1986 with effect from 1- ..... 4-1987.we derive support for this view of ours from the twelfth schedule of the income-tax act, 1961, which was introduced with effect from 1-4-1983, by the finance act, 1982. under this schedule, a percentage deduction is given under section 80t(b) ..... following passages appearing at page 62 of indian tax laws, 1966 by a.n. aiyer explaining the changes in the law relating to capital gains in section 45 of the income-tax act brought about by the finance act of 1964 : (i) bonus shares - an assessee who holds any equity shares and receives any bonus shares will be liable to be charged to .....

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 Vs. Bhagat Construction Co.

Court : Delhi

Reported in : (2001)171CTR(Del)648; [2002]253ITR177(Delhi); [2001]119TAXMAN375(Delhi)

..... the facts and in the circumstances of the case, the tribunal is justified in holding that the assessed-company is an industrial company as defined in section 2(7)(c) of the finance act, 1979, and if so whether the assessed-company is entitled to a concessional rate of tax ? 2. whether, on the facts and in ..... on october 31, 1978.3. the factual position in a nutshell is as follows :the assessed derived income from executing civil engineering works at bokaro and sub-letting contracts in delhi. it claimed to be an industrial company within the meaning of section 2(7)(c) of the finance act, 1979 (in short, 'the finance act'). the said claim ..... of the case. the income-tax officer refused to recognise the assessed as an industrial company, but allowed investment allowance under section 32a. subsequently, the said allowance was withdrawn by order passed under section 154 of the act. the assessed preferred appeals before the commissioner of income-tax (appeals) (in short, 'the cit(a)'), questioning the .....

India Leather Corporation (P.) Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : (1989)77CTR(Mad)18; [1989]179ITR170(Mad)

..... a view to encourage and promote manufacturing activities and industrial development and growth with reference to the processing of goods and others as set out in section 2(6)(c) of the finance act, 1970, read with the explanation and not to take in cases where some resources are generated purely from trading activities like dealing and trafficking in ..... at 60% on the residue, while in the case of non-industrial company, the rate of tax on the entire total income is 65%. under section 2(6)(c) of the finance act, 1970, an industrial company means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of ..... to the decisions relied on by learned counsel for the assessee. in cambay electric supply industrial corpn. ltd. v. cit : [1978]113itr84(sc) , section 80e of the act, prior to its amendment by the finance (no.2) act, 1967, came up for consideration and it was in that context, that the supreme court pointed out that for the purpose of .....

Commissioner of Income-tax Vs. Sudesh Kumari Soni

Court : Andhra Pradesh

Reported in : [1997]227ITR113(AP)

..... of the finance act of the relevant assessment year for allowing enhanced depreciation at 10 per cent. on all the five items of buildings ?' 2. the admitted facts are that the assessee is engaged in the business of hatchery employing modern methods. for the previous year ended march 31, 1978, corresponding to the assessment year 1978-79, the assessee claimed deduction under section 80j as ..... profits and gains of a business of livestock breeding or poultry or dairy farming was completely exempted under section 10(27) until 1976 and the provision of section 80jj was introduced in the finance act, 1975. in the budget speech (see [1975] 98 itr 113), the finance minister stated that this exemption is prone to abuse by showing the income which would otherwise be chargeable .....

O.K. Industries and ors. Vs. Commissioner of Income-tax and anr.

Court : Kerala

Reported in : [1987]163ITR51(Ker)

..... case is that the sale price of the entitlement was derived or arose from business. whether or not the word 'arising' under section 28(iv) is synonymous with the word 'derived' as under section 2(5)(a)(i) of the finance act, 1966 [see commissioners of taxation v. kirk [1900] ac 588 (pc)], the right obtained under the entitlement is not a ..... cochin company v. cit : [1978]114itr822(ker) . the court in that case rejected the claim of the assessee that the sale proceeds of the import entitlement were profits and gains derived from the export of goods so as to entitle it to the benefits of rebate of tax under section 2(5)(a)(i) of the finance act, 1966, which provided (p. ..... that a sum of rs. 2,37,283 received by the petitioner during the period relevant to the assessment year 1973-74 was income chargeable to tax under section 28 of the act.2. the petitioner is an exporter of sea foods. on the basis of the foreign exchange earned through export, the petitioner was granted by the government the .....