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1 - 10 of 28 (0.34 seconds)The Income Tax Act, 1961
Article 14 in Constitution of India [Constitution]
Section 115J in The Income Tax Act, 1961 [Entire Act]
The Companies Act, 1956
Finance Act, 2020
State Of Andhra Pradesh & Ors vs Nallamilli Rami Reddi & Ors on 29 August, 2001
Companies in whose case
the income tax payable on the total income as
computed under the normal provisions of the Act
in respect of the previous year relevant to the
assessment year is less than 10% of their book
profits. The provision does not intend to make
any classification between a capital asset
infrastructure company and a capital intensive
company with no capital assets. If, as a
consequence of implementing the provisions of
the section, some companies are put to some
hardship, it does not mean that the legislature
has created a distinct class of companies. As held
by the Apex Court in State of A.P. v. Nallamilli
Ramli Reddi (supra), a classification would be
justified unless it is patently arbitrary. If there is
equality and uniformity in each group, the law
will not become discriminatory; though due to
some fortuitous circumstance arising out of
peculiar situation some included in a class get an
advantage over others so long as they are not
singled out for special treatment.