Court : Jharkhand
Reported in : 2008(56)BLJR679; (2008)218CTR(Jharkhand)506; [2008(3)JCR667(Jhr)]
..... (bom) .6. section 80i of the act was inserted by the finance act, 1980 with effect from 1.4.1981. the scope of this section has been elaborated by departmental circular no. 281 dated 22.9.1980. this section was further amended by finance act, 1983 with effect from 1st april, 1984. under section 80i of the act, deduction is allowed ..... to 20% and 25% in case of corporate tax payers of the profit from new industrial undertaking or a ship or business of a hotel included in the gross total income any industrial undertakings which fulfills all the conditions laid down under section ..... 4,33,474/- for assessment years 1989-90 & 1990-91 respectively. the commissioner of income tax, ranchi initiated revision proceedings under section 263 of the act and alleged that the said assessment orders passed by the assessing officer were erroneous and prejudicial to the interest of revenue because according to .....
Tag this Judgment!Court : Kerala
Reported in : (2006)205CTR(Ker)505; [2007]292ITR663(Ker)
..... of enabling the enjoyment of any immovable property. but then sub-clause (v) and (vi) of section 2(47) which give wider amplification to the concept of 'transfer' under the it law were introduced in the definition only by the finance act, 1987 only w.e.f. 1st april, 1988, i.e., long after the assessment year in question ..... 'house property' falling under section 22 of the act, a person in possession under an agreement falling under section 53a of the transfer of property act may be an owner within the meaning of clause (iiia) of section 27 of the act after the introduction of the said clause w.e.f. 1st april, 1988 by the finance act, 1987. but until the ..... bros. v. cit : [1969]73itr423(all) , cit v. dadha & co. : [1983]142itr792(mad) , abdul kareemia & bros. v. cit : [1984]145itr442(ap) and jansons v. cit : [1985]154itr432(kar) .6. it is true that section 2(47) of the act has been couched in the widest possible terms so as to include within the meaning of 'transfer' even any arrangement which .....
Tag this Judgment!Court : Karnataka
Reported in : [2000]246ITR750(KAR); [2000]246ITR750(Karn)
..... fee' in clause (a) of the said section is only prospective in nature with effect from april 1, 1989, and would not have any retrospective effect ..... expression 'tax or duty' and, hence, the provisions of section 43b would not apply to such payments (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is right in law in holding that the amendment brought to section 43b by the finance act, 1988, by way of insertion of the expression 'cess or ..... from april 1, 1984 ?'5. in i. t. r. c. no. 745 of 1998, the following questions of law have been referred : .....
Tag this Judgment!Court : Gujarat
Reported in : [1994]210ITR972(Guj)
..... surtax act read with section 256(1) of the income-tax act, 1961 : '1. whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the sum of rs. 74,693 deposited with the industrial development bank of india in lieu of surcharge on income-tax under the finance act, 1984, was ..... not deductible from the chargeable profits computed under the first schedule to the companies (profits) surtax act, 1964? 2. whether, on the facts and in the circumstances of the case, the tribunal was right ..... , was not deductible while computing the chargeable profits under the first schedule to the companies (profits) surtax act, 1964?' 2. as regards question no. 1, dealing with a similar question in surtax reference no. 14 of 1984 (ambica mills ltd. v. cst : [1994]206itr699(guj) ), decided on january 13, 1994, we have held that the .....
Tag this Judgment!Court : Gujarat
Reported in : (2007)208CTR(Guj)439
..... that advancement of any other object of general public utility is also charitable purpose. the above definition of 'charitable purpose' is modified by the finance act, 1983, with effect from april 1, 1984. before the above amendment, the purpose, i.e., advancement of any other object of general public utility was qualified by the words 'not ..... the institution and not about the nature of the income. if the object of the institution falls within the definition of charitable purposes under section 2(15) of the act and the institution is genuinely carrying out such object, the commissioner of income-tax must register the institution. therefore, the moot question to ..... specific duties and therefore they cannot be said to be doing any charitable work. he contended that the statutory body is not entitled to exemption under section 11.learned counsel for the assessee has strongly opposed the above submissions of the learned departmental representative.8.1 after considering the arguments of both the .....
Tag this Judgment!Court : Rajasthan
Reported in : [1997]226ITR561(Raj)
..... the table was on the basis of material used in the construction of building while from 1984-85 to 1987-88, the table was changed on the basis of general rates or special rates.11. section 32(1)(v) was added by the finance act (no. 2) of 1967, and remained in operation for the assessment years 1968-69 ..... . these were a permanent installation and provided support for services used by the company for carrying on its trade. the company claimed capital allowance under the finance act, 1971, section 41 in respect of the expenditure incurred, contending that it constituted capital expenditure on the provision of plant. on appeal by the crown from the decision ..... been incurred on the provision of 'plant' for the purposes of their trade, and accordingly claimed a first-year allowance in respect of it under section 41 of the finance act, 1971. the inspector of taxes disallowed the claim, but on appeal the special commissioners reversed the inspector's decision and upheld the taxpayer's claim.41 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1991)39ITD197(Mum.)
..... )(c) of the finance act, 1978, the hon'ble high court was ..... undertaken by it, was engaged in "processing of goods".therefore, being an industrial company, it was entitled to be taxed at the concessional rate of tax contemplated under section 2(6)(c) of the finance no. (2) art of 1971. relying on yet another decision of the hon'ble bombay high court in the case of hoechst dyes & chemicals ltd. v. k ..... of the act would not be applicable in its case by virtue of sub-clause (4) of that section. in this connection he also invited our attention to the decision of the hon'ble calcutta high court in the case of g.a. renderian ltd. v. cit[1984] 145 itr 387 and pointed out that while interpreting the provisions of clause 2(7 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2004)91ITD116(Mum.)
..... -section (1) of section 72 or sub-section (2) of section 73 or sub-section (1) of section 74.the taxation laws (amendment) act, 1984 further amended section 80 with effect from 1st april, 1985, substituting the words under section 139' by the expression "within the time allowed under sub-section (1)of section 139 or within such further time as may be allowed by the income-tax officer. " finance act, 1987, again amended section ..... 80 with effect from 1st april, 1988 to include the reference to sub-section (3) of section 74 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2005)94TTJ(Ahd.)1103
..... that advancement of any other object of general public utility is also charitable purpose. the above definition of "charitable purpose" is modified by the finance act, 1983, w.e.f. 1st april, 1984. before the above amendment, the purpose, i.e., advancement of any other object of general public utility was qualified by the words "not ..... out such object, the cit must register the institution. therefore, the moot question to examine is whether the object of the assessee institution is charitable or not section 2(15) of the it act defines the words "charitable purpose" as under : "2(15) 'charitable purpose' includes relief of the poor, education, medical relief, and the advancement ..... previous year, the accounts of the trust or institution for that year have been audited by an accountant as defined in the explanation below sub-section (2) of section 288 and the person in receipt of the income furnishes along with the return of income for the relevant assessment year the report of such audit .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Reported in : (2006)102TTJ(Ahd.)928
..... that advancement of any other object of general public utility is also charitable purpose. the above definition of "charitable purpose" is modified by the finance act, 1983 w.e.f. 1st april, 1984. before the above amendment, the purpose, i.e., advancement of any other object of general public utility was qualified by the words "not ..... purposes for which the corporation is established and all matters connected therewith. thus he pleaded that the assessee should be held entitled to registration under section 12a of the act.5. on the other hand, the learned departmental representative vehemently objected to such grant of registration. he tried to distinguish the case laws relied ..... not brought any material nor recorded any finding to hold that activities of assessee were not genuine, therefore, the assessee was not entitled to registration under section 12a. he placed on record the copy of both the orders of the tribunal.referring to these orders and also the fact that the assessee-corporation .....
Tag this Judgment!