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A.S.K. Brothers Ltd. Vs. Dy. Cit/Dy. Cit V. A.S.K. Brothers

Court : Income Tax Appellate Tribunal ITAT

Subject : Land Acquisition

Reported in : (2001)70TTJ(Bang.)673

Expenditure Tax Act, 1957 (29 of 1957) was repealed with effect from 1-4-1966, by section 40 of the Finance Act, 1966 (13 of 1966). He summed up the levy of expenditure-tax under Expenditure Tax Act, 1957 and submitted that

Northern India Caterers (India) Ltd. Vs. Lt. Governor of Delhi

Court : Supreme Court of India

Subject : Sales Tax

Acts : Bengal Finance (Sales Tax) Act, 1941 - Sections 2; Constitution of India - Article 137; Supreme Court Rules, 1966 - Order 40, Rule 1; Code of Civil Procedure (CPC) - Order 47, Rule 1

Reported in : AIR1980SC674; (1980)2SCC167; [1980]2SCR650; [1980]45STC212(SC); 1980(12)LC494(SC); (1980) 2 SCC 163

casual visitOrs. In a reference made to the High Court of Delhi under Section 21(3) of the Bengal Finance (Sales Tax) Act, 1941 as extended to the Union Territory of Delhi, the High Court expressed the opinion … ground of an error apparent on the face of the record. (Order XL Rule 1, Supreme Court Rules, 1966). But whatever the nature of the proceeding, it is beyond dispute that a review proceeding cannot be equated … ground of an error apparent on the face of the record. (Order XL Rule 1, Supreme Court Rules, 1966). But whatever the nature of the

indo Asian Switchgears (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1985)12ITD65(Delhi)

the export of any goods or merchandise out of India within the meaning of Section 2(5)(a)(i) of the Finance Act, 1966. Profits which were so derived, were entitled to a rebate of income-tax. The assessee claimed that it was … Ltd.'s case (supra). This was a decision of the Supreme Court, viz., Pingle Industries Ltd. v. CIT [1960] 40 1TR 67. The Court considered this decision but did not accept it as an authority for the claim

Commissioner of Income-tax Vs. Gurbachan Lal

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 256(1), 256(2), 260 and 271(1); Finance Act, 1964 - Sections 40 and 271(1)(C); Finance Act, 1968; Taxation Laws (Amendment) Act, 1975 - Sections 61; Evidence Act, 1872 - Sections 106

Reported in : (2001)168CTR(Del)266; [2001]250ITR157(Delhi); [2001]116TAXMAN138(Delhi)

An Explanationn was inserted at the end of sub-section (1) of Section 271, by the said Finance Act (section 40 of the Finance Act, 1964). In between, by the Finance Act, 1968, the base for levy of penalty … 1976, which have relevance to the present dispute. Originally, the word 'deliberately' existed which was omitted by the Finance Act, 1964, with effect from April 1, 1964. An Explanationn was inserted at the end of sub-section (1) of … filed a return showing income of Rs. 5,000 for the assessment year 1966 67. A sum of Rs. 48,500 was recovered in cash from his

Commissioner of Wealth-tax Vs. Champa Properties Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957; ;Wealth Tax Rules, 1957 - Rule 1BB; ;Finance Act, 1983 - Section 40 and 40(3); ;Finance Act, 1960

Reported in : [1994]206ITR567(Cal)

and Rs. 5,88,138 could not be assessed to the wealth-tax under Sub-section (3) of Section 40 of the Finance Act, 1983, in the assessment years 1984-85 and 1985-86, respectively ?' 3. The facts leading to this reference are … three persons (hereinafter referred to as 'the lessees') at a certain rent for 20 years from August 1, 1966. Later on, the assessee-company was able to secure higher rent and, therefore, agreements were arrived at between the

Commissioner of Income-tax, Delhi-i Vs. Bharat Ram Charat Ram P. Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17(1), 35(1), 40, 40A(5), 80B, 80E, 80-I, 80M, 80AA, 85A and 256(1)

Reported in : (1985)47CTR(Del)5; [1986]157ITR199(Delhi)

and re-enacted as section 80-I. The history of this enactment is that section 80E was inserted by the Finance Act of 1966 and then that section was replaced by section 80-I with effect from April 1, 1968, by … as perquisite to those five directors by the Income-tax Officer for computation of the deductions permissible under section 40(c) and section 40A of the Act. The Appellate Assistant Commissioner followed the judgment of the Delhi High Court

Plasticotes Investments Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1992)40ITD332(Mum.)

flats in Anand Kamal are let out to the director of the assessec-company.3. By Section 40 of the Finance Act, 1983, the levy of wealth-tax was revived in the case of closely held companies. In its return of

Commissioner of Income-tax Vs. Best and Co. (P.) Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 40; Finance Act, 1964

Reported in : [1979]119ITR830(Mad)

might be deleted as, according to it, the provisions of Section 40(c)(iii) of the Act, introduced by the Finance Act of 1963, was applicable only for 1963-64 (assessment year) and not for the later years. By the Finance

Hindustan Zinc Ltd. Vs. Dy. Cit

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2002)74TTJ(NULL)36

Controller of Aid. Accounts and Audit (hereinafter referred to as the CAAA), Department of Economic Affairs, Ministry of Finance, on receipt of the budgetary support from Ministry of Mines. The relevant terms and conditions are more specifically … relates to the disallowance of Rs. 4,22,37,000 claimed by the assessee under section 35AB of the Income Tax Act, being 1/6th of the expenditure incurred for acquisition of technical know-how, for the reason that no tax was … however, disallowed the claim of the assessee on this count under section 40(a) considering that the tax has not been deducted under Chapter XVII-B from

Excel Film Distributors Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (1983)3ITD652(Coch.)

There is no controversy on the determination of the adjusted expenditure.Sub-section (3A), inserted in Section 37 by the Finance Act, 1978 with effect from 1-4-1979 provided thus : (3A) Notwithstanding anything contained in Sub-section (1) but without prejudice … The question that falls for consideration is whether the assessee is entitled to a basic allowance of Rs. 40,000 in the computation of the disallowance on the aggregate expenditure on advertisement, publicity and sales promotion incurred in