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Orient Paper and Industries Ltd. Vs. Orissa State Electricity Board

Court : Orissa

Reported in : 67(1989)CLT601; 1989(42)ELT552(Ori)

..... this application under article 226 of the constitution of india, levy of duty on electricity under central excises & salt act, 1944 (hereinafter referred to as 'the act') as amended by section 36 of finance act 1978 is assailed by the petitioner, a company registered under the indian companies act, 1913.2. ..... mohanti submitted that electricity is not goods and accordingly by section 36 of the act 19 of 1978 inclusion of item he to the first schedule to the providing for levy of duty on electricity at two paise per kilowatt-hour is beyond the legislative ..... referring to section 39 of the indian electricity act, it was observed :-'with regard to the first reason that section 39 of the act extended the operation of section 378 of the code, it seems to us beyond question that section 39 did not extend section 378 in the sense of amending it or in any way altering the language used in ..... the act was amended in 1978, providing for levy of duty on electricity by including item 11e to the first schedule, the board demanded additional amount from the petitioner, which it was to pay under the act. ..... ,(i) electricity is goods as has been held in the commissioner of sales-tax's case (supra),(ii) generation of electricity for the purpose of the act is manufacture or production of electricity, since the term 'manufacture' or 'production' is to be given a wide meaning, (iii) inclusion of tax leviable under the act on the board has rightly been included in the tariff as amended in the year 1980.10. .....

Pepper (inspector of Taxes) Vs. Hart and Others.

Court : Kolkata

Reported in : [1991]191ITR195(Cal)

..... after 1978, employment with emoluments at the rate of pounds 8,500 a year or more (section 69(1), as amended by section 23 of the finance act 1978). ..... oliver, for the taxpayers, and because this case has certain features which case me concern.section 61(1) of the finance act 1976 requires that in cases where the subsection applies there shall be treated as emoluments of the employment of each of the taxpayers, and accordingly chargeable to income tax under schedule e, 'an amount equal to whatever is ..... , because a rateable apportionment of the relevant expense would produce a figure close to the amount of the ordinary school fees.the relevant statutory provisions are to be found in chapter ii of part iii of the finance act 1976, in particular, sections 61 and 63. ..... the gist of his case is to be found in the following passage in his skeleton argument, as amended during the course of the hearing :'section 63(2) does not, properly construed, produce the result that expenditure incurred wholly to maintain and run an undertaking such as a school as a going concern is to be brought into the reckoning as expenditure incurred (in whole or in part ..... sections have now been replaced, with amendments immaterial for present purposes, by sections 154 and 156 of the income and corporation taxes act ..... 204, 209, there was under consideration section 161(1) of the income-tax act 1952 which contained the similar phrase :'where a body corporate incurs expense in or in connection with the provision, for .....

Supreme Industries Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... this section was amended by the finance act, 1978 with effect from 1-4-1978 and again by 1998 with effect from 1 ..... from a plain reading of this section, we find that this section was brought to the statute by the finance act, 1977 with effect from 1-4-1978to make the amalgamation of the sick companies with other ..... the finance act, 1977 has inserted a new section 72a in the income tax act relaxing the aforesaid provisions relating to carry forward and set off of a accumulated business loss and unabsorbed depreciation allowance in certain cases ..... during the assessment proceedings for the previous year relevant to the assessment year under appeal, the assessee submitted revised working of eligible deduction under sections 80hh,80-1 and 80-ia of the act, pertaining to eligible units after allocation of expenses/income pertaining to head office and non-manufacturing units/branches to manufacturing units/branches on the basis of (d) total turnover basis and (b) turnover and capital employed ( ..... the learned dr further invited our attention to the provisions of section 32(1) of sick industrial companies act, 1985 with the submissions that no doubt it talks about overriding effects over provisions of other act but its sub-section (2) only talks about the effect of provisions of section 72a of the income tax act.according to sub-section (2), the provisions of section 72a shall be applied subject to the scheme approved under sica and the amalgamation of sick industrial company with .....

Humayun Suleman Merchant Vs. The Chief Commissioner of Income Tax, Mum ...

Court : Mumbai

..... besides introducing sub-section (4) to section 54f the finance act, 1978, also amended sub section (1) of section 54f of the act to make it subject to provision of sub-section (4) thereof. ..... (g) this led to the introduction of sub-section (4) to section 54f of the act by the finance act, 1987 with effect from 1st april, 1988. ..... section 54f of the act introduced into the act with effect from 1st april, 1983 by the finance act, 1982 provides exemption from capital gain on transfer of any long term-capital asset in case the same is invested in a residential house. ..... the central board of direct taxes circular dated 15th october, 1986 was issued only in the context of section 54 and 54(f) of the act to clarify that an investment in a flat under the self finance scheme of delhi development authority would be treated as construction for the purpose of capital gain, where an allotment letter has been issued by the authority and facility of payment in installment is provided for the purchase of flat. ..... (f) thus, section 54f of the act as incorporated made available the benefit of exemption to purchase a house within one year (amended to two years) or construct a residential house within a period of 3 years from the date on which capital asset has been sold. .....

Sunderdas Haridas Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Patna

Reported in : (1998)67ITD89(Pat.)

..... when clause (10aa) which provides for exemption of encashment of leave on retirement from service from inclusion in the assessee's total income, was inserted into section 10 to be effective from april 1, 1978, by the finance act, 1982, no consequential amendment of section 17(3)(ii) was made. ..... schedule to the relevant finance act stipulates the rates at which the tax is to be deducted at source from income subject to such deduction under the provisions of sections 193 to 195 of the it act. ..... the provisions of chapter xii-a which related to the incomes of non-residents were introduced by finance act, 1983 w.e.f.1-6-1983 and part-ii of the finance act, 1983 stipulated that in the case of a non-resident indian the tax should be deducted @ 20% on investment income and long-term capital gains and on other income other than interest on ..... is true that at the time when section 16(3)(a)(iii) of the indian income-tax act, 1922 was enacted, the definition of "income" did not include "capital gains" but capital gains having been brought within the meaning of "income" in section 2(6c) the expression "income" as used in section 16(3)(a)(iii) must be construed according to the amended definition of the word and would, therefore, ..... in the definition of term "income" in the indian income-tax act, 1922 prior to amendment of section 2(6c) and insertion of new section 12b relating to capital gains the above was done under entry 54 in list i of the seventh schedule of the government of india act, 1935. .....

Balsara Hygiene Products Ltd. and Another Vs. D.S. Saxena and Another

Court : Mumbai

Reported in : 1994(2)BomCR164; [1994]208ITR623(Bom)

..... in the year 1978, section 37 of the act was amended by the finance act, 1978, by inserting sub-sections (3a) to (3d). ..... in this connection, it is interesting to note that earlier by the finance act, 1978, sub-sections (3a) to (3d) were inserted in section 37 of the act and those sub-sections were omitted by the finance act, 1980. ..... by this petition filed under article 226 of the constitution of india, the petitioners are seeking a declaration that the amendment made to section 37 of the income-tax act, 1961, by section 17(b) of the finance act, 1983, by inserting sub-sections (3a) to (3d) is bad in law, illegal, invalid and violative of the petitioners' fundamental rights. ..... the petitioners, therefore, challenged the amendment made to section 37 by section 17(b) of the finance act, 1983, claiming that the amended sections are violative of the fundamental rights guaranteed under articles 14 and 19 of the constitution of india. ..... parliament by the finance act, 1983, again amended section 37 by inserting sub-sections (3a) to (3d) and, inter alia, provided that 20 per cent. ..... in our judgment, the challenge to the provisions of sub-sections (3a) to (3d) of the section 37 of the income-tax act as introduced by section 17(b) of the finance act, 1983, is without any merit and the petition must fail. 20. ..... the challenge was to the validity of the imposition of import duty on newsprint imported from abroad under section 12 of the customs act and the levy of auxiliary duty under the finance act. .....

Televista Electronics (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1985)12ITD161(Delhi)

..... above, regarding chargeability of interest under section 217 in view of the petition under section 154 along with directions of the commissioner (appeals) and it is found that vide the finance act, 1978, section 24, with effect from 1-6-1978, which amended the whole structure of advance tax and in view of these amendments, every assessee is bound to file statement or estimate of advance tax before the due date(s) without waiting for a notice under section 210 to be issued by the ..... section 209a was introduced by the finance act, 1978, with effect from 1-6-1978 ..... by the amount of income-tax which would be deductible during the said financial year in accordance with the provisions of sections 192 to 194, section 194a, section 194 c, section 194d and section 195 on any income (as computed before allowing any deductions admissible under this act) on which tax is required to be deducted under the said sections and which has been taken into account in computing the said total income ; (i) the total income of the latest ..... or before the date on which the first instalment, or where he has not previously been assessed by way of regular assessment under this act, on or before the date on which the last instalment, of advance tax is due in his case under sub-section (1) of section 211, if his current income is likely to exceed the amount specified in sub-section (2) of section 208 send to the income-tax officer-- (a) where he has been previously assessed by way of regular assessment under this .....

Orient Arts and Crafts Vs. Commissioner of Income Tax

Court : Allahabad

Reported in : (2005)198CTR(All)378; [2005]279ITR581(All)

..... section 35b was amended by insertion of section 35b(1a) by the finance act, 1978, w.e.f 1st of april, 1978, and was ..... or processor who does not own any plant and machinery upto the prescribed limit would not be entitled to claim weighted deduction under section 35b of the act, in view of clause (1a) of section 35b, as it stood by the finance act, 1978.9. ..... section 2(7) of the finance act, 1966, inter alia, reads as follows :'for the purposes of this section and the ..... the tribunal, delhi, at the instance of the assessee has referred the following question of law under section 256(1) of the it act, 1961 (hereinafter referred to as 'the act'), for opinion to this court:'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding that it was obligatory for the assessee to have machinery and plant and ..... along with explanation is reproduced below :'(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 that sub-section is engaged in--(i) the business of export of goods and is either a small scale exporter or a holder of an export house certificate; or(ii) the business of provision of technical know-how, or the rendering of services ..... of 'industrial company' as contained in the first schedule to the finance act, 1966, was involved. .....

Commissioner of Income-tax Vs. A.R. Mathavan Pillai

Court : Kerala

Reported in : [1996]219ITR696(Ker)

..... as already stated above whichever is the statutory position to be taken into consideration, whether the provisions of section 54 as amended by the finance act, 1978, as stated above or the provision of section 54 as is stood really at the time of the concerned assessment year, there would be no difference whatsoever ..... in fact, the statutoryprovision whether it is section 54 as it originally stood or whether section 54(1) and section 54(2) as amended by the finance act, 1978, with retrospective effect from april 1, 1974, as far as the factual matrix of this reference is concerned the position would not make any difference in ..... even the appellate authority taking into consideration that the day that was material for considering application of section 54 of the act being the date of transfer and not the receipt of the amount of compensation, when the possession was taken the capital gains could be taken into ..... that the ground was taken before the appellate authority invoking the provision of exemption in the nature of exemption in view of the provisions of section 54 of the income-tax act contending that the assessee had constructed a new building during 1979 and 1980. ..... with regard to the second aspect, in relation to the provisions of section 54(2) of the act, learned counsel for the department emphasised the terminology, 'constructed a house property for the purposes of his own residence' have a legal submission that the provision can be resorted to in favour of the assessee only if .....

Commissioner of Income-tax Vs. Jansons and Co.

Court : Allahabad

Reported in : (2006)202CTR(All)528; [2006]283ITR175(All)

..... 'whether on the facts and in the circumstances of the case, tribunal was justified in law in holding that the assessee firm fulfilled all the relevant conditions prescribed in section 35b(1-a) as amended by theu finance act, 1978 and was entitled to weighted deduction under section 35a? ..... the assessee claimed weighted deduction under section 35b(1a) as inserted by the finance act, 1978 w.e.f. ..... (d) read with clause (2) of explanation below section 32a(2) sub section (2) of section 32a reads as follows:-(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 that sub section is engaged in- (i) the business of export of goods and is other a small scale exporter or a holder of an export house certificate or (ii) the business of provision of technical know-how ..... the income tax appellate tribunal has referred the following questions of law under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'act') for the assessment year 1079-80 for opinion to this court. .....