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Commissioner of Income-tax, Gujarat-i Vs. Satellite Engineering Ltd.

Court : Gujarat

Reported in : [1978]113ITR208(Guj)

..... (ii) of sub-section (4) of section 80j, which as initially enacted was in pari materia with clause (ii) of sub-section (2) of section 84, the words 'a building (not being a building taken on rent or lease), have been omitted by the finance act, 1975, with effect from april 1, 1976, and, secondly, a provision for carrying forward has been made in sub-section (3) of section 80j. ..... by the finance act, 1969, the time-limit of 23 years in section 80j(4)(iii) was increased to 28 years and by the finance act, 1975, it was raised to ..... 33 of, and the third schedule to, the finance (no. ..... principal object of the provision, as observed in textile machinery corporation's case : [1977]107itr195(sc) , is to encourage setting up of new industrial undertakings by offering tax ..... ' case : [1977]107itr195(sc) , the said sub-section negatively provides that an industrial undertaking, in order to earn benefit of sub-section (1), should not be formed : (i) by the splitting up of a business already in existence; (ii) by reconstruction of a business already in existence; or (iii) by the transfer to a new business of building, machinery or plant previously used for ..... commissioner of income-tax : [1977]107itr195(sc) , the supreme court had an occasion to construe the provisions of the old ..... 's case : [1977]107itr195(sc) , the supreme court observed at page 203 : 'even if a new business is carried on but by piercing the veil of the new business it is found that there is employment of the assets of the old business, .....

Golden Press Vs. Deputy Collector of Central Excise, Hyderabad and anr ...

Court : Andhra Pradesh

Reported in : 1986(9)ECC317; 1985LC1001(AP); 1987(27)ELT273(AP)

..... product manufactured by the petitioner cannot be sold in open market, nor can it be supplied to any third-party; it has to be returned to the same customer who has supplied the card-board. ..... deal with them in that order : (a) the first question is whether, during the period 1-3-1976 to 17-6-1977, the petitioner was employing more than 49 workers, so as to attract the liability to duty under tariff item ..... introduced in the first schedule to the act with effect from 1-3- ..... the collector of central excise issued a notice to the petitioner, under section 35a of the central excise act, calling upon it to show cause why the order of the deputy collector dated 24-9-1980 should not ..... brought to our notice is 'the printing industry' by victor strauss, and the third one is a treatise, called 'printing office procedure' published by the british industries ..... inasmuch as the number of workers employed by the petitioner for the said period, was only 47; (iii) that, the petitioner's claim for exemption for the period 18-6-1977 to 13-12-1977 with reference to notification no. ..... we agree with the learned counsel on his first submission, it would not be necessary to examine contentions (ii) and (iii); only if we do not accept his first contention would it be necessary to examine the second contention. ..... : 'under the government of india, ministry of finance (department of revenue and insurance) notification no. ..... under the government of india, ministry of finance (department of revenue and insurance) notification no .....

Asian Paints (India) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1990)34ITD268(Mum.)

..... , the production must have commenced on or before 31 march, 1979.while commenting on the amendment brought out under the finance act of 1975 in terms of which the period of 31 years was extended to 33 years, the learned authors chaturvedi & pithisaria have made the following comments at page 2149 in their book income-tax law (third edition): (ii) the pre-amendment provisions made the 'tax holiday' concession available in the case of industrial undertakings which commenced ..... reduction of period from 33 years to 31 years consequent to exclusion of item 26 from the eleventh schedule, shri dastur pointed out that item 26 was omitted from 1-4-1982 and such omission did not affect the appellant, since we were concerned with an earlier accounting period.in support of this argument, shri dastur referred us to circular no.308 dated 29-6-1981 containing explanatory notes on finance act, 1981.in particular, shri dastur relied on paragraphs 19.1 to 19.3 dealing with amendment of eleventh ..... extended to 8 years, 13 years, 18 years, 23 years and 28 years by successive finance acts passed in 1954, 1956,1960,1965 and 1969. ..... one of the conditions specified in terms of the language used by the learned authors reads is under: (iii) it manufactures or produces any articles (not necessarily priority industries), or operates one or more cold storage planter plants, in any part of india, and has begun or begins to manufacture or produce such articles, or to operate such plant or plants, ..... ito [1977] 107 itr .....

Travancore Chemical and Mfg. Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1983)6ITD788(Coch.)

..... whatever be the language employed in the finance act, 1976, it is the provision contained in the finance act, 1977, that determines the liability for income-tax payable for the assessment year 1977-78. ..... what is deductible under rule 2 to the first schedule appended to the act, is the amount of income-tax payable by the company in respect of its total income under the provisions of the 1961 act after making allowance for any relief, rebate or deduction in respect of income-tax to which the company may be entitled under the provisions of the said act or the annual finance act .3. ..... therefore, the expression 'income-tax' used in the first schedule of the act, if it is to include surcharge, as contended for on behalf of the assessee, there must be a payment made towards surcharge and when by making the deposit under the scheme if exemption for payment of surcharge is secured, that exempted amount of ..... the admissible deduction under rule 2 of the first schedule appended to the act is, therefore, only the amount of income-tax paid and cannot include the deposit made by the assessee-company under the ..... rule 2 of the first schedule appended to the act provided that the total income arrived at after making certains exclusions referred to in rule 1 shall be further reduced by the amount of income-tax payable by the company in respect of its total income under the provisions of the 1961 act after making certain allowances and after excluding the income-tax payable in respect of certain .....

Y.D. Nanje Gowda Vs. Union of India and anr.

Court : Karnataka

Reported in : ILR1985KAR955; [1985]152ITR618(KAR); [1985]152ITR618(Karn)

..... basis of the present schedule incorporated by the finance acts the petitioner is made ..... first schedule to the act introduced by the finance act of 1974 (central act ..... the finance act, 1974 which is material reads thus ([1973] 88 itr 35 : 'clause 20 seek to make certain amendments in part i of the schedule to the wealth-tax act relating ..... finance act of 1974 amended the schedule to the act ..... self-acquired property thrown into the family hotchpot, so that individual's income liable to higher tax rate is reduced and also liability arising due to clubbing of income under section 64 of the income-tax act, 1961, is avoided; and (d) retain the ancestral property as the property of joint family as otherwise the property as well as the income from such property will be assessed in the hands of the ..... prevalent in the country in great detail in chapter iii - 'tax avoidance' - and made various recommendations action ..... 1977-78, the petitioner in the status of an huf filed a return under the act before the wto, who by his order dated september 20, 1977, (exhibit-a) completed the assessment as on march 31, 1977 ..... the third suggestion appeared to be quite attractive initially inasmuch as it casts a more equitable tax burden on the family and renders ineffective the various techniques of tax avoidance adopted by ..... the third suggestion was that the family should be treated like a registered firm without the registered firm tax and its income should be apportioned among those of its members who would be entitled .....

Leroy Vs. Great Western United Corp.

Court : US Supreme Court

..... announcing its intent to make a tender offer to purchase shares of stock of a company having substantial assets in idaho, appellee, a texas-based corporation which is also engaged in business in new york and maryland, filed the informational schedule with the securities and exchange commission required by the securities exchange act of 1934 (1934 act), as amended by the williams act, and also filed documents in idaho in an attempt to satisfy that state's takeover statute. ..... footnote 4 ] "'offeror' means a person who makes or in any way participates in making a take-over offer, and includes all affiliates and associates of that person, and all persons acting jointly or in concert for the purpose of acquiring, holding or disposing of or exercising any voting rights attached to the equity securities for which a take-over offer is made. ..... the enactment of the statute by the legislature, the review of great western's filing, the forwarding of the comment letter by deputy administrator baptie, and the entry of the order postponing the effective date of the tender by finance director mceldowney -- as well as the future action that may be taken in the state by its officials to punish page 443 u. s. ..... on march 25, 1977, melvin baptie, who was then the deputy administrator of securities of the idaho department of finance, sent a telecopy letter of objections to great western's filing to the company's offices in ..... 183 iii nor, as the district court correctly concluded, is venue available under .....

Hukam Chand Mills Vs. Collector, C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1988)(38)ELT59TriDel

..... 8 of the central excise rules, 1944, read with sub-section (3) of section 3 of the additional duties of excise (goods of special importance) act, 1957 (58 of 1957), the central government hereby directs that each of the notifications of the government of india in the department of revenue and banking or the ministry of finance (department of revenue), as the case may be, specified in column (2) of the table hereto annexed shall be further amended, in the manner specified in ..... brief facts of the case are that the appellants submitted classification list dated 21.11.1981 and claimed the benefit of the exemption under notification 226 of 1977, dated 15.7.77 under proviso (vi) of the notification and availed of the set-off of duty paid on grey fabrics used by them for manufacture of processed fabrics.the appellants made clearance of the ..... of approval of the classification list, he pleaded that the question for consideration is the recovery of short-levy under section 11a of the central excises and salt act and that demand under this section can be raised for a period of six months in case the duty was found short-levied. ..... , dated the 18th june, in the first proviso, clause 1977 (iii) shall be omitted. 2. ..... 19 of the first schedule to the central excises and salt act, 1944 (1 of 1944), and specified in column (2) of the table hereto annexed (hereafter in this notification referred to as the "table") from so much of the duty of excise leviable thereon as in excess of the duty specified .....

Commissioner of Income-tax Vs. Sanghi Oxygen Co.

Court : Rajasthan

Reported in : [1993]203ITR784(Raj)

..... -taxappellate tribunal has ignored the amendment made by section 6 of the finance act, 1975, with retrospective effect from april 1, 1973. ..... the apex court has also held that the claim of deduction for gratuity after the insertion of section 40a cannot be allowed on general principles under any other provisions of the act, namely, section 28 or section 37, and, therefore, the judgment of the income-tax appellate tribunal is not sustainable in view of the law laid down by the apex ..... the income-tax appellate tribunal, jaipur, has referred the following two questions of law under section 256(1) of the income-tax act, 1961, which have arisen out of its order dated december 30, 1978, in respect of the assessment year 1973-74 :'(1) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding ..... of the salary (as defined in clause (h) of rule 2 of part a of the fourth schedule) of each employee entitled to the payment of such gratuity for each year of his service in respect of which such provision ..... assessee for the payment of gratuity to his employees on their retirement or on termination of their employment for any reason, to the extent such amount does not exceed an amount calculated at the rate of eight and one-third per cent. ..... and the balance of the admissible amount or, as the case may be, the balance of the admissible amount as reduced by the amount so utilised, is paid by the assessee by way of such contribution before the 1st day of april, 1977. .....

C.i.T. Vs. Sanghi Oxygen Co.

Court : Rajasthan

Reported in : 1992(3)WLC329; 1992WLN(UC)421

..... of their employment for any reason, to the extent such amount does not exceed an amount calculated at the rate of eight and one-third per cent of the salary (as defined in clause (h) of rule 2 of part a of the fourth schedule) of each employee entitled to the payment of such gratuity for each year of his service in respect of which such provision is made.explanation 2 : for the removal of doubts, it is ..... , and the balance of the admissible amount or, as the case may be, the balance of the admissible amount as reduced by the amount so utilised, is paid by the assessee by way of such contribution before the 1st day of april, 1977.explanation 1 : for purpose of sub-clause (ii) of clause (b) of this sub-section, 'admissible amount' means the amount of the provision made by the assessee for the payment of gratuity to his employees on their retirement or on termination ..... tribunal has ignored the amendment made by section 6 of the finance act, 1975 with retrospective effect from 1st april, 1973. ..... section (7) of section 40a was inserted by the finance act, 75(25) of 1975 with retrospective effect fro 1st ..... appex court has also held that the claim of deduction for gratuity after the insertion 40-a cannot be allowed on the general principles under any other provisions of the act namely; section 28 or section 37 and, therefore, the judgment of the income-tax appellate tribunal is not sustainable in view of the law laid down by the .....

M/s. Murugan Agencies, Represented by its Proprietor Prakash Kumar Cho ...

Court : Kerala

..... by the said judgment, section 4a of the act, 1976 and the schedule thereto as amended by the finance bill, 1994 were declared unconstitutional, invalid and inoperative and the said provisions were set aside. ..... the amounts paid as tax till the date of the invalidation of the changing provision in the act was not liable to be refunded is the principle laid down in the above decisions, according to ..... the above view of the matter, it is urged by the learned counsel that the refusal to refund the amounts so collected from the appellant would be a fraud on them by the statutory authorities and would also amount to a confiscatory act on their part which is not supported by any due process of law. ..... the appellant who was the dealer under the act was statutorily enjoined to collect such tax from their customers or end consumers as the case may ..... so far as the payment of tax contemplated under section 5(3) of the act, 1976 is concerned, the petitioner was directed to furnish bank guarantee to the satisfaction of the assessing authority on or before 15th of every month in relation to the tax payable for the preceding ..... interim order was issued in that case on 10.2.1995 refusing to stay the operation of section 4a of the act, 1976, but directing the petitioner to file returns. ..... petitioner shall comply with the provisions of the kerala tax on luxuries act, 1976 regarding filing the return. ..... thereafter, by judgment dated 4.8.1977, the writ petition was allowed following the judgment in o.p.no.5478 of .....