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Commissioner of Income-tax Vs. Texmaco Ltd.

Court : Kolkata

Reported in : (1982)29CTR(Cal)64,[1983]141ITR531(Cal)

..... all depreciation actually allowed to him under this act, or under the indian income-tax act, 1922 (xi of 1922), or any act, repealed by that act, or under any executive orders issued when the indian income-tax act, 1886 (ii of 1886), was in force : ' 8. by an amendment introduced retrospectively by section 6 of the 2nd finance act, 1965, a proviso was added which stipulates as ..... follows :'provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of subsection (1) of section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub .....

Pati Durga Cold Storage Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1986)18ITD132(Kol.)

..... industry'.the issue before the kerala high court in the case of casino (p.) ltd. (supra) also related to the expression 'industrial company' under section 2(6)(d) of the finance act, 1968. it was held that a hotel was primarily a trading company and preparation of food was not manufacture or processing of goods.in the english case ..... citv. farrukhabad cold storage (p.) ltd. [1977] 107 itr 816 (all.) has been whether a cold storage is an 'industrial company' as defined in section 2(1)(d) of the finance acts of 1966 and 1967. while accepting the claim that the assessee is an 'industrial company' the court has specifically observed that processing of goods need not lead ..... decision in usha prints india (p.) ltd.'s case (supra) deals with the word 'power' as used in clause (g) of section 2 of the finance act. the clause has a specific definition in that act.in the supreme court decision in the case of h. anraj (supra) the question involved was whether the lottery tickets were goods liable to .....

Daulatram Rawatmull Vs. Commissioner of Income-tax, Central

Court : Kolkata

Reported in : AIR1967Cal547,[1967]64ITR593(Cal)

..... commr. of income-tax, : air1954bom234 .' 34. the rest of the judgment of the gujrat high court deals with the effect of the amendment made in section 34 by the finance act, 1966, with which we are not concerned in the instant case. we have dealt with the judgment of the gujrat high court at great length because the learned ..... the gujrat high court was not the same as the question before us. the gujrat high court, however, considered the legal position prior to the amendment of section 34 by the finance act, 1956. it is for this reason that the decision of the gujrat high court calls for careful consideration. 27. the learned judges of that high court ..... the notice in that case was issued under clause (a) of sub-section (1) of section 34 on 31st january 1962, and the question for consideration was whether after the amendment by the finance act, 1956, a notice could be issued under clause (a) of sub-section (1) of section 34 for reopening any assessment for any of the assessment years covered .....

Dunlop India Limited (No. 2) Vs. Assistant Commissioner of Income-tax ...

Court : Kolkata

Reported in : [1990]183ITR532(Cal)

..... on the revenue's appeal, the above observations have been made, apart from indicating that the recent insertion of the new explanation 2 to section 43b by the finance act, 1989, with retrospective effect from april 1, 1984, does not, in any manner, affect the non-applicability of the main provisions of ..... which the provisions of section 43b and various amendments therein were introduced from time to time. the first proviso to section 43b which was inserted by the finance act, 1987, to obviate unnecessary disallowance of the amount of sales tax for the quarter is merely ..... will be applicable only from the assessment year 1988-89. since the aforesaid proviso inserted by the finance act, 1987, merely clarifies the real legislative intention, the same should be made applicable ever since the provision of section 43b was introduced. such an interpretation will be perfectly in consonance with the object and spirit with .....

Abhoy Chandra Bakshi Vs. Commr. of Service Tax, Kolkata

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Kolkata

..... of the retrospective amendment, vide section 97 and 98 of the finance act, 2012, no service tax is leviable on the repair and maintenance service of roads. 3. per contra, the ld. a.r ..... of the finance act and rs.5,000/- under section 77 of the finance act, 1994. 2. the ld. chartered accountant for the applicant submits that the entire service charges on which demand has been confirmed relates to repair and maintenance of roads/high ways. he submits that the period involved in the present case is from 2005-2006 to 2006-2007. he submits that in view .....

Commissioner of Income-tax Vs. Radha Nagar Cold Storage (P.) Ltd.

Court : Kolkata

Reported in : (1980)18CTR(Cal)166,[1980]126ITR66(Cal)

..... to this court the question as mentioned hereinbefore.5. before we consider the question further it may be necessary to refer to the definition of the relevant finance act, namely, the finance act, 1968. section 2(6), clause (d), defined 'industrial company' as follows :' 'industrial company' means a company which is mainly engaged in the business of ..... that the assessee-company was engaged in the processing of goods and was accordingly an industrial company within the meaning of section 2(6)(d) of the finance act, 1968, or under section 2(6)(c) of the finance act, 1969 ?'2. the assessee-company has been engaged in the business of running a cold storage plant. its ..... kerala high court in the case of cit v. casino (pvt.) ltd. : [1973]91itr289(ker) was concerned with the expression 'industrial company' under section 2(6)(d) of the finance act, 1968. there, the court was dealing with the hotel which prepared cooked food for serving its customers from raw materials like vegetables or meat. there, .....

Commissioner of Income-tax Vs. Jasrup Baijnath and Sons (P.) Ltd.

Court : Kolkata

Reported in : [1971]82ITR513(Cal)

..... where the company found that its capital was in excess of the requirements of the company, is dividend under the income-tax act read with or without the finance act.19. section 2(6a) of the income-tax act says :'dividend includes- (a) any distribution by a company of accumulated profits, whether capitalized or not, if such distribution entails ..... of deemed dividend as the section itself provides. in order to succeed, therefore, the revenue has to establish in this case that the dividend taken to be dividend in this case was a dividend according to prescribed arrangements within the meaning of proviso (i)(a) of paragraph d of the finance act quoted above. on the facts ..... with super-tax on such deemed dividend, is section 23a of the income-tax act. clause (b) of proviso (i) of paragraph d of part ii of the finance (no. 2) act, 1957, expressly mentions sub-section (9) of section 23a which means that no part of section 23a of the income-tax act applies to a company in which public are .....

Seth Sukhlall Chandanmull Vs. A. C. Jain, Income-tax Officer, and Anot ...

Court : Kolkata

Reported in : [1958]34ITR82(Cal)

..... income-tax cannot equally reasonably be re-classified or sub-divided for the purposes of super-tax.i, therefore, hold that finance act, 1951, as applicable to the finance act, 1954, under section 2 of the finance act, 1954, is not ultra vires the constitution and does not infringe the right of equality before the law or the equal ..... basis of the assessment made, the income-tax officer applied the different rates of income-tax, surcharge and super-tax prescribed by the finance act of 1951 as applicable to the finance act, 1954, for the said assessment year. dr. pal appearing for the appellant has challenged the validity of progressive and graduated system of tax ..... protection of the laws. i hold further that the finance act is not ultra vires the constitution and the rates imposed thereunder are neither .....

Dunlop India Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1992)41ITD582(Kol.)

..... we cannot take into account the explanation 2 for disposal of appeal.but there is no injunction prohibiting us for taking into account the first proviso to section 43b introduced through the finance act, 1987 with effect from april 1,1988. in fact, we have already applied the above proviso in favour of the assessee relating to rs. ..... the above finding was not challenged before us and, therefore, nothing more be stated. the learned cit( a) also held that the first proviso to section 43b inserted by the finance act, 1987 was applicable from 1-4-1988 and not in the assessment year 1984-85. this view runs counter to the view taken by the hon'ble ..... two conditions of the said proviso were satisfied. the cit(a) concluded "in fine, it may be emphasised that the retrospective amendment of the section by insertion of explanation 2 by the finance act, 1989 sets at naught all the various contentions of the appellant, once it is established that the amount represented statutory liability for excise duty .....

The Gift Tax Officer 'K' Ward and Anr. Vs. Kastur Chand JaIn

Court : Kolkata

Reported in : AIR1965Cal70,68CWN685,[1964]53ITR411(Cal)

..... the tax depend on the passing and application of the annual finance act. thus, income is chargeable to tax independent of the passing of the finance act but until the finance act is passed no tax can be actually levied. a comparison of sections 3 and 6 of the act shows that the act recognises the distinction between the chargeability and the actual operation of ..... business lines on the basis of a hypothetical sale to a buyer in the open market accordingly, under section 7 (5) of the english finance act 1894 and in the absence of supplementary provisions corresponding to section 6(3) of the gift tax act and rule 10(2) of the gift tax rules, it was held that where the articles of ..... in the previous year * * * it is by virtue of this section that the actual levy of the tax and the rates at which the tax has to be computed is determined each year by the annual finance acts. thus, under the scheme of the income-tax act, the income of an assessee attracts the quality of taxability with reference to .....