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1 - 10 of 13 (1.50 seconds)Section 40A in The Income Tax Act, 1961 [Entire Act]
Section 144B in The Income Tax Act, 1961 [Entire Act]
Section 35B in The Income Tax Act, 1961 [Entire Act]
Indian And Eastern Newspaper Society ... vs Commissioner Of Income Tax, New Delhi on 31 August, 1979
In our considered view, the objection raised by the audit party would not constitute an information for which we place reliance on the decision of the Supreme Court in the case of Indian and Easter Newspaper Society vs. CIT (supra), wherein the Honble Supreme Court has held as follows :
G.A. Renderian Ltd. vs Commissioner Of Income-Tax on 3 August, 1982
In the case of G. A. Renderian Ltd. vs. CIT (supra), the assessee, who carried on the business of purchasing tea of different qualities, blending the same by mixing one type with another and selling it, claimed that it was an industrial company, within the meaning of S. 2(7)(c) of the Finance Act, 1978, entitled to concessional rate of tax. The Tribunal disallowed the claim on the ground that there is no processing of tea as the end product was the same and the process was manual. On a reference the Honble Calcutta High Court that the Tribunal was in error and the assessee was an industrial company in terms of S. 2(7)(c) of the Finance Act, 1978.
Kesaria Tea Co. Ltd. vs Commissioner Of Income-Tax on 17 August, 1990
Respectfully following the above decision of the Honble Kerala High Court, this ground is decided against the assessee.
The Income Tax Act, 1961
Chowgule & Co. Pvt. Ltd. & Anr vs Union Of India & Others(And Vice Versa) on 25 November, 1980
The Honble High Court followed the ratio laid down in the case of Chowgule & Co. Pvt. Ltd. & Anr. vs. Union of India & Ors. 47 STC 124 (SC). The above decisions are applicable to the facts of this case and we hold that the assessee is an industrial company and is entitled to concessional rate of tax. We also find that in the assessees own case, the CIT(A) vide his order dated 18th Oct., 1989, for the assessment year 1980-81 had held that the assessee is entitled to be treated as an industrial company for the purpose of levy of tax. Therefore, this issue is decided in favour of the assessee.
Srivilas Cashew Co. vs Commissioner Of Income-Tax on 12 August, 1991
The Honble High Court came to the conclusion that For being entitled to weighted deduction, the foreign agency need not work as a servant exclusively for the assessee. Respectfully following the above decision of the jurisdictional High Court, we hold that the assessee is entitled to get deduction in respect of commission paid to foreign agents. This ground is decided in favour of the assessee.