Court : Supreme Court of India
Reported in : [2000]243ITR383(SC); JT2000(4)SC473; 2000(3)SCALE240; (2000)5SCC373; [2000]2SCR1169
..... appellate tribunal which was not permissible. in the later cases, karnataka high court itself relied on the provisions of the amendment act, 1984 and its repeal by the finance act, 1985 to interpret the provisions of sections 17(2) and 40a(5). distinguishing features which the high court in the case of commissioner of income tax v. m ..... of income tax and anr. : [1997]224itr183(kar) have correctly understood and applied the provisions of the amendment act, 1984 and that of finance act, 1985 while interpreting the provisions of section 17(2) and 40a(5) of the act. as noted above, the appellate tribunal in ca no. 657 of 1994 held that there was no evidence ..... treated as a benefit for the purposes of section 17(2)(iii) of the act.26. taxation laws amendment act, 1984 which amended sections 17(2) and 40a(5) by inserting clause (vi) in both the sections and its subsequent repeal by the finance act, 1985 is significant. by the 1984 amendment act, parliament wanted to carve out a particular exception .....
Tag this Judgment!Court : Kolkata
Reported in : (2006)203CTR(Cal)377,[2005]273ITR133(Cal)
..... in law in coming to its conclusion that the commissioner of income-tax (appeals) erred in holding that the assessee was an industrial company within the meaning of section 2(8)(c) of the finance act, 1984 ?4. whether, on the facts and circumstances of the case, the tribunal was justified in law in holding that the printing, publication and distribution of pharmaceutical concerns ..... of the findings of the final fact-finding authority (the 'itat') it 10 must be held that the assessee is not an industrial company within the meaning of section 2(8)(c) of the finance act, 1984.11. the facts relevant to questions nos. 4, 5 and 6 are that the assessing 11 officer disallowed certain expenditure incurred by the assessee for the two .....
Tag this Judgment!Court : Delhi
Reported in : (1998)62TTJ(Del)314
..... to capital asset' as defined in section 2(47) of income tax act, 1961, as it existed in the relevant previous year. the definition of 'transfer' given in section 2(47) of income tax act, 1961 has undergone significant amendments by the taxation laws (amendment) act, 1984 with effect from 1-4-1985 as well as by the finance act, 1987 w.e.f. 1- ..... 4-1988. it will be worthwhile to reproduce the provisions of section 2(47) as it existed w.e.f. ..... 1-4-1988 'section 2(47) : 'transfer', in relation to a capital asset, includes, .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1989)31ITD482(Mum.)
..... it was submitted that the principle involved in the definition of an industrial company as given in section 2 of the finance act, 1984 for the purpose of charging the differential rate of income-tax was the same as section 104 of the i.t. act. it was therefore submitted that the i.t.o. has wrongly charged the rate of 65 ..... only the expenditure incurred after the issuance of the certificate by the censor board could at best be considered for the applicability of the provisions of section 37(3a) of the act. he further stated that these arguments will be equally applicable in respect of the expenditure aggregating to rs. 9,07,472 incurred in respect of ..... us that the publicity expenditure incurred by the distributors can never be treated as the expenditure incurred by the assessee and that too for the purposes of section 37(3a) of the act. thereafter, he invited our attention to the relevant portion of rule 9a which provides for "deduction in respect of expenditure on production of feature film .....
Tag this Judgment!Court : Kolkata
Reported in : 1994(46)ECC180,[1994]206ITR367(Cal)
..... to excise duty.24. in the case of g. a renderian ltd. v. cit : [1984]145itr387(cal) , while considering the claim of the assessee for treating it as an 'industrialcompany' within the meaning of section 2(7)(c) of the finance act, 1978, for allowing the benefit of concessional rate of tax, it was held that blending of ..... manufacturing' although both the expressions appear in section 2(7)(c) of the finance act, 1978, the tribunal was in error in observing that the end result is tea having a particular blend and no commercially new or different article ..... tea amounts to processing and as such the assessee was an industrial company in terms of section 2(7)(c) of the finance act, 1978.25. the calcutta high court considered that, as there is no specific or separate definition of the expression 'processing' or the expression ' .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR298(Cal)
..... not less than fifty-one per cent. of such total income. 2. the question as to the exact meaning of the explanation to subsection 7(d) of section 2 of the finance act, 1966, came up for consideration and the board are advised that an 'industrial company' would mean,-- (a) a company which is mainly engaged in the business ..... assessee 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 ..... a. renderian ltd. v. cit : [1984]145itr387(cal) . in that case, the assessee, who carried on the business of purchasing 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 .....
Tag this Judgment!Court : Mumbai
Reported in : [1992]193ITR781(Bom)
..... judgments relied upon. it our opinion, the calcutta high court's decision in g. a. renderian ltd. v. cit : [1984]145itr387(cal) is not applicable in this case inasmuch as section 2 (7) (c) of the finance act, 1978, defined an industrial company, inter alia, as one which is engaged in the processing of goods. it is pertinent to ..... activity. he pointed out that, in the calcutta case, the facts were identical. the question considered was whether the assessee was an industrial company under section 2 (7) (c) of the finance act, 1978, and the court held that it was so. in the gujarat case, the assessee was carrying on the business of a printing press. ..... that the assessee's activity of blending of different kinds of tea could not constitute manufacturing activity so as to bring it within the purview of section 2 (5) (a) (ii) of the finance act, 1966. accordingly, the tribunal confirmed the order of the additional commissioner. 5. placing reliance on the calcutta high court decision in the case of .....
Tag this Judgment!Court : Allahabad
Reported in : [2010]186TAXMAN460(All)
..... activity for profit' from section 2(15) of the act. thus, after april 1, 1984, even if there is some profit in the activity carried on by the trust/institution ..... . it is pertinent to note that prior to april 1, 1984, the words used in section 2(15) of the income-tax act were 'advancement of any other object of general public utility not involving the carrying on of any activity for profit'. by the finance act, 1983 with effect from 1st april, 1984, legislature has omitted the words 'not involving the carrying on of any .....
Tag this Judgment!Court : Kerala
Reported in : [1991]189ITR414(Ker)
..... ]186itr499(ker) ), judgment dated june 13, 1989 and income-tax reference no. 121 of 1984 (cit v. glory paul : [1990]186itr496(ker) ), judgment dated july 5, 1989. in the last decision, the amendment made by section 3 of the finance act, 1989, to section 2(14) of the income-tax act, 1961, was noticed, by which retrospective effect was given to the amendment. the amendment made ..... that the tribunal was in error in holding that the consideration received on the sale of urban agricultural lands is not exigible to capital gains tax under the income-tax act.5. we answer the question referred to this court in the affirmative, against the assessee and in favour of the revenue.6. a copy of this judgment under the seal .....
Tag this Judgment!Court : Kerala
Reported in : [1997]225ITR686(Ker)
..... the claim of the assessee after the introduction of sub-section (4a) under section 11 of the income-tax act, 1961, by the finance act of 1983 with effect from april 1, 1984. it is also relevant to note that under the very same finance act, the definition of 'charitable purposes' under section 2(15) has also undergone a change. section 2(15) as amended reads as follows : ' 'charitable purpose ..... assessee is entitled to exemption under section 11(1) of the income-tax act, 1961 ?' 2. the relevant facts of the case in brief are as follows : the respondent/assessee-company was being held to be a charitable institution entitled to claim exemption under section 11(1) till the assessment year 1983-84. for the year 1984-85, the assessing authority took the view .....
Tag this Judgment!