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Assistant Commissioner of Income Tax Vs. Ambadi Enterprises (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Reported in : (1998)62TTJ(Mad)432

not. The learned Departmental Representative pointed out that there was retrospective amendment by the Finance Act, 1990, to section 28 of the Income Tax Act, by which sections 28(iiib) and 28(iiic), which read as under, have been added … the order of the Commissioner (Appeals) was a negative figure. But due to the retrospective amendment by the Finance Act, 1990, the relief in respect of cash assistance has been withdrawn and, therefore, the total income will become

Director of State Lotteries Vs. Assistant Commissioner of Income-tax a ...

Court : Guwahati

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 28 and 194B; Finance Act, 1972

Section 2(24) of the Income-tax Act. Sub-clause (ix) of Section 2(24) of the Act was inserted by the Finance Act, 1972, which brought the winnings from lotteries within the purview of the Act. Section 2(24)(ix) runs thus : '(ix) … and the income received by the State and respondent No. 5 is business income and, therefore, assessable under Section 28 of the Act ; that any amount credited by way of book entry or otherwise in respect of

Commissioner of Income-tax Vs. T.K. Manicka Gounder

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 27(1), 143, 144, 147, 264 and 271(1)

Reported in : (1989)76CTR(Mad)208; [1989]178ITR274(Mad)

aforesaid and in view of the introduction of the Explanation to section 271(1)(c) of the Act by the Finance Act, 1964, penalty proceedings under section 271(1)(c) of the Act were also intitiated. The assessee preferred a revision petition … that the court was concerned for the assessment year 1947-48 with reference to the unamended provisions of section 28(1)(c) of the Indian Income-tax Act, 1922, and the decision was to the effect that the inposition of penalty

Shree Sajjan Mills Ltd. Vs. Commissioner of Income Tax, M.P., Bhopal a ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30, 34(3), 36(1), 37, 37(1), 39, 40A, 40A(1), 40A(7), 40D, 155(13) and 256(1); Payment of Gratuity Act, 1972; Finance Act, 1968 - Sections 40A; Companies Act; Finance (Amendment) Act, 1975

Reported in : AIR1986SC484; 1986LC276(SC); [1985]156ITR585(SC); 1985(2)SCALE737; (1985)4SCC590; [1985]Supp3SCR593

the total Rs, 48,59,431 made by the assessee towards liability for gratuity?9. Section 40A was inserted by the Finance Act, 1968 with effect from 1st April, 1968. It is necessary to set out, the relevant provisions of Section … the assessment year relating to 1973-74, actuarially ascertained liability for gratuity especially arising under the Payment of Gratuity Act, 1972 was an allowable deduction. The Tribunal had consistently taken the view that the assessee would not be eligible … deduction generally in determining the true profits and gains of business which could be subjected to tax under Section 28 of the Act. It was emphasised on behalf of the assesses that deduction in respect of gratuity could

Dr Baliram Waman Hiray Vs. Justice B. LentIn and ors.

Court : Supreme Court of India

Subject : Criminal

Acts : Commissions of Inquiry Act, 1952 - Sections 3, 3(1), 4, 5(4), 5(5) and 6; Code of Criminal Procedure (CrPC) - Sections 195, 195(1), 195(2), 195(3) and 346; Constitution of India - Article 141; Indian Penal Code (IPC) - Sections 193 and 228; Workmen's Compensation Act - Sections 23; Payment of Wages Act - Sections 18; Indian Railways Act - Sections 40

Reported in : AIR1988SC2267; (1988)90BOMLR434; 1988(3)Crimes655(SC); [1989]176ITR1(SC); JT1988(4)SC265; 1988(2)SCALE688; (1988)4SCC419; [1988]Supp2SCR942; [1989]72STC384(SC)

Section 136 of the Income-tax Act, 1961 w.e.f. April 1,1974 from which the CrPC, 1973 came into force. Section 28 of the Finance Act amended Section 136 of the Income-tax Act, and it was provided that the words … the course of his submissions, he has brought to our notice the words in parenthesis added by the Finance Act, 1985 introducing the following change in Section 136 of the Income-tax Act, 1961 w.e.f. April 1,1974 from which … was the one employed in Section 34 of the U.P. Urban Buildings (Regulation of Letting, Rent & Eviction) Act, 1972 Sub-section (1) of Section 34 of that Act provides that the District Magistrate, the Prescribed Authority or any

Modi Vanaspati Mfg. Co. Vs. Collector of Customs and Central

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Land Acquisition

Reported in : (1985)(22)ELT615TriDel

on or after 1-10-1975. The significance of this date is that by virtue of Section 47 of the Finance Act, 1982, an Explanation was inserted under Sub-clause (ii) of clause (d) of Section 4 (4) of the Central … Indian Manufacturers Ltd. and Anr. v. Union of India and Ors. (1981 E.L.T.632) it had been held that Section 28 Customs Act was analogous to Section 11A of the Central Excises and Salt Act and that the former

Commissioner of Income-tax Vs. Kanpur Textiles Ltd.

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(5), 6(3), 28, 30 to 38, 40, 40A(7), 80V and 256(2); Companies Act; Uttar Pradesh Industrial Disputes Act, 1947 - Sections 6(3); Payment of Gratuity Act, 1972; Wealth-tax Act; Finance Act, 1975; Income Tax Rules

Reported in : (2005)198CTR(All)293; [2005]276ITR140(All)

allowability of the amount of gratuity prior to the insertion of Section 40A(7) in the Act by the Finance Act, 1975, with effect from April 1, 1973, as follows (page 599) :'(1) Payments of gratuity actually made to … contained in the U. P. Government Notification No. 4268, dated November 19, 1971, and the Payment of Gratuity Act, 1972. However, he allowed the claim of the respondent-assessee only for Rs. 1,66,495 in respect of gratuity actually paid … an accrued basis as falling on the assessee in the year of account could be deductible either under Section 28 or Section 37 of the Act.'15. It is not in dispute that the Dr. Sampurnanand Award which was

Polestar Electronic (Pvt.) Ltd. Vs. Addl. Commissioner Sales Tax and a ...

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : (1978)7CTR(SC)0020B

of Delhi;(vi) such other sales as may be prescribed;This was the definition until 28th May, 1972, when by Finance Act, 1972 the main enactment, in S. 5(2)(a)(ii) was substituted by the following provision :'(2) In this Act the expressing … as they stood during these assessment periods.2. S. 2 enacted the definition provision and clause (c) of the section defined a dealer to mean any person who carries on the business of selling goods in Delhi. Clause … was extended to Delhi subject to certain modifications by a Notification dated 28th April, 1951 issued by the Central Government in exercise of the powers

Barkha Investmnt and Trading Co. Vs. Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 14, 28, 40A, 40A(1), 40A(8), 51, 56, 256(1), 260(1) and 263; Finance Act, 1975; Companies Act, 1956 - Sections 620A; Income Tax Act, 1922 - Sections 10, 12, 23A and 66(1); Banking Regulation Act, 1949; Reserve Bank of India Act, 1934 - Sections 45I, 45J, 45K, 45L and 45Q; Hire-Purchase Act, 1972 - Sections 2; Industrial Development Bank of India Act, 1964 - Sections 2

Reported in : (2006)200CTR(Guj)342; [2006]281ITR316(Guj)

to the history of Section 40A(8) of the Act at the time of introduction in the statute by Finance Act, 1975 it was held that the intention of the legislature can be truly ascertained after taking into account … to a hirer under a hire-purchase agreement as defined in clause (c) of section 2 of the Hire-Purchase Act, 1972 (26 of 1972);(iv) the carrying on of any class of insurance business;(v) managing,conductingor supervising, as foreman, agent or … gains.F. Income from other sources.14.1 Under Head 'D' which deals with 'Profits and gains of business or profession' Section 28 of the Act appears and it specifies the incomes which are chargeable to income-tax under the said head.

Bharatiya Janata Party Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)80ITD89(Delhi)

10 each. The interest income therefrom would normally be assessable under Sections 18 to 21, deleted by the Finance Act, 1988 w.e.f. 1st April, 1989. From the asst. yr.1989-90, interest on securities is assessable as business income under … was executed on 22nd Nov., 1971, w.e.f. that date. On 10th March, 1972, the appellant and his brother executed a document styled "release deed" pursuant … 1988 w.e.f. 1st April, 1989. From the asst. yr.1989-90, interest on securities is assessable as business income under Section 28 where such interest forms part of business profits. In other cases, it is assessable as income from other