Judgment Search Results Home > Cases Phrase: finance act 1984 section 2 income tax Court: mumbai Page 1 of about 35,246 results (0.167 seconds)

K.R. Films (P.) Ltd. Vs. Income-tax Officer

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 .....

J.B. Advani and Co. P. Ltd. Vs. Commissioner of Income-tax

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 .....

Shree Mulchand Co. Ltd. Vs. Commissioner or Income-tax

Court : Mumbai

Reported in : (1986)51CTR(Bom)195; [1986]162ITR764(Bom)

..... clause.5. it was submitted by miss patel, learned counsel for the assessee, that the expression 'processing' used in clause(c) of sub-section(6) of section 2 of the said finance act has a wider connotation than the term 'manufacture' and that for an activity to be considered processing, it was not necessary that the activity must ..... the claim of the assessee. the reference arises form the aforesaid decision of the tribunal.3. the material part of clause(c) of sub-section(6) of section 2 of the said finance act runs as follows :'industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity or any other ..... commodity as such.9. in g. a. renderian ltd. v. cit : [1984]145itr387(cal) , the calcutta high court was called upon to consider the meaning of the term 'processing' used in the definition of 'industrial company' in section 2(7)(c) of the finance act, 1978. after analysing the decision of the supreme court in the case of chowgule .....

Commissioner of Income-tax Vs. Marsons Beneficiary Trust,

Court : Mumbai

Reported in : (1990)87CTR(Bom)71; [1991]188ITR224(Bom)

..... income of the trust.2. all these applications relate to the assessment years which are prior to the date when section 161(1a) was inserted in the income-tax act, 1961. this amendment has been inserted by the finance act, 1984, with effect, from april .1, 1985. we are, therefore, concerned with the relevant provisions of the income- ..... tax act prior to that date.3. chapter xv of the income-tax act, 1961, deals with tax liability in certain special cases. this includes, inter alia, the liability of representative assessees. the relevant portions of the sections in ..... by receiving in come under a trust, a beneficiary does not authorise the trustees to carry on business. and a disclaimer by a beneficiary under section 9 of the trusts act is not withdrawal of consent to the trustees carrying on business. it was argued that a non-disclaimer by a beneficiary, i.e., a non .....

Dhanji R. Zalte Vs. Assistant Commissioner of Income-tax

Court : Mumbai

Reported in : (2004)186CTR(Bom)772; [2004]265ITR204(Bom)

..... effect from april 1, 1984, and was made operative from july 1, 1984. the income-tax department, in the course of searches carried out from ..... provisions of section 269ss, he shall be liable to pay, by way of penalty, a sum equal to the amount of the loan or deposit so taken or accepted. (2) any penalty imposable under sub-section (1) shall be imposed by the joint commissioner.' section 269ss was inserted in the income-tax act by the finance act of 1984 with ..... inspection (investigation) v. kumari a.b. shanti : [2002]254itr258(sc) . sections 269ss and 271d of the income-tax act read thus :'269ss. no person shall, after the 30th day of june, 1984, take or accept from any other person (hereafter in this section referred to as the depositor), any loan or deposit otherwise than by an account- .....

Sheraton Apparels, Vs. Assistant Commissioner of Income-tax

Court : Mumbai

Reported in : 2002(5)BomCR19; (2003)1BOMLR888; (2002)175CTR(Bom)651; [2002]256ITR20(Bom); 2003(1)MhLj302

..... has been using the term 'book' or 'books of account' right from its inception. but, these terms are defined in the act for the first time by the finance act, 2001, with effect from june 1, 2001. section 2(12a) defines the said terms to mean :'(12a) 'books or books of account' includes ledgers, day-books, cash books, ..... by doing so, the assessee could have escaped the liability of penalty under section 271(1)(c).22. in order to plug the aforesaid loop hole, explanation 5 has been inserted by the taxation laws (amendment) act, 1984, with effect from october 1, 1984. the newly inserted explanation 5 enacts a deeming provision and has application to a ..... tax, together with interest, if any, in respect of such income.' legislative intention :21. prior to the insertion of explanation 5 to section 271 by the taxation laws (amendment) act, 1984, with effect from october 1, 1984, an assessee, who is found to be the owner of any money, bullion, jewellery, etc., recovered during the course of search, .....

Director of Income-tax (Exemptions) Vs. Sheth Mafatlal Gagalbhai Found ...

Court : Mumbai

Reported in : [2001]249ITR533(Bom)

..... (2) which has been on the statute book right from april 1, 1985. the said proviso was inserted by the finance act, 1984, the proviso specifically refers to violation of section 13(1)(d) and its consequences. in the circumstances, we find merit in the contention of the assessee that in the present case, the maximum marginal rate of tax will ..... on so much of the relevant income as is not exempt under section 11. section 164(2) was reintroduced by the direct tax laws (amendment) act, 1989, with effect from april 1, 1989. earlier it was omitted by the direct tax laws (amendment) act, 1987. however, the legislature inserted a proviso by the finance act, 1984, with effect from april 1, 1985. by the said proviso, it .....

Hill Properties Ltd. the Companies Act, 1956 Vs. Union Bank of India U ...

Court : Mumbai

Reported in : 2009(111)BomLR4550

..... to, and not in derogation of, the industrial finance corporation act, 1948 (15 of 1948), the state financial corporation act, 1951 (63 of 1951), the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india act,1984 (62 of 1984), the sick industrial companies (special provision) act, 1985 (1 of 1986) and the small ..... the appointed day, the jurisdiction, powers and authority to entertain appeals against any order made, or deemed to have been made, by a tribunal under this act.'section 18: bar of jurisdiction: on and from the appointed day, no court or other authority shall have, or be entitled to exercise, any jurisdiction, powers ..... the tribunals to distribute sale proceeds among the secured creditors in accordance with the provisions of section 529a of the companies act;(vi) the laying of notifications issued under sub-section (4) of section 1, section 2 and sections 8 of the act before the parliament.5. the bill seeks to replace the said ordinance.11. as can .....

Glaxo Laboratories (India) Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1986)18ITD226(Mum.)

..... the percentages operative in the previous year would be operative in that case.24. thus, the said case was decided on the language of section 23a of the 1922 act and of the finance act, 1959 and does not lay down any general proposition regarding the applicability of law as on 1st april to the assessment year (irrespective of ..... assessee's claim for depreciation and the commissioner (appeals) upheld it in view of the amendment of section 35(2)(iv) by the finance (no. 2) act, 1980. under similar circumstances, the madras high court in cit v. lucas tvs ltd. [1984] 149 itr 771 has held that depreciation cannot be granted for the subsequent year on the assets on ..... which the relief under section 35(2) equivalent to the full cost has already been allowed. the assessee, however .....

inspecting Asstt. Cit and ors. Vs. Saurashtra Trust

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... is an object of general public utility under section 2(15) of the income tax act, 1961 (2) whether, the provisions of section 11(4a) introduced with effect from 1-4-1984 are applicable to assessees case (3) whether, the provisions of sub-section (4a) of section 11, as substituted by finance (no. 2) act, 1991 with effect from 1-4-1992 are ..... the separate books of accounts are maintained in respect of such business activity. in the assessment year 1984-85, in the light of the amendment in section 2(15) and the corresponding amendment in the scheme of the act by insertion of section 11(4a), the issue as to whether the assessee trust can be said to be eligible ..... income from other sources. : whether the object of the assessee trust is an object of general public utility under section 2(15) of the income tax act, 1961 : yes. in the light of the amendments in section with effect from 1-4-1984, the assessee trust is eligible for being treated as pursing an object of general public utility under .....