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Commissioner of Income Tax Vs. Sri Rajendra Mills Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1), 37, 40A, 40A(7), 155 and 155(13); Payment of Gratuity Act, 1972; Finance Act, 1975

Reported in : [1996]219ITR684(Mad)

matter of allowing deduction with regard to the provision made for gratuity liability for the earlier years, the Finance Act, 1975, has inserted a new sub-s. (7) in s. 40A, which provides that no deduction will be allowed … year ended on 31st March, 1974. The assessee follows the mercantile system of accounting. The Payment of Gratuity Act, 1972, had come into force in September, 1972. But the assessee made no provision in its accounts for the … with by assessee - claim made by assessee allowed under Section 40A (7) - allowability of claim under Section 36 (1) (v) need not to be considered - assessee entitled to deduction of entire gratuity amount including initial

Kerala Financial Corporation Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1), 41 and 41(4A); Finance Act, 1997

Reported in : (2003)182CTR(Ker)502; [2003]261ITR708(Ker)

with the requirement under Section 36(1)(viii). He drew our attention to the amendment made to Section 36(1)(viii) by Finance Act, 1997, w.e.f. 1st April, 1998, by which it was made clear that the special reserve is not only

Kerala State Insurance Department Vs. Union of India

Court : Kerala

Subject : Land Acquisition

Reported in : 2012(2)KLT941; 2012(2)KHC683

the obligation as above and hence there is no 'taxable service', as contemplated under Section 65(12) of the Finance Act , 1994 to be mulcted with any liability. Still, the petitioner had submitted an application for registration and … Corporation Act, 1956 (LIC Act in short) and 'exemption' under Section 36(1)(a) of the General Insurance Business (Nationalisation) Act, 1972. 2. The parties and proceedings are referred to, as arrayed in W.P.(C)No.15892 OF 2008, treating the same as

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 … books of account. So as to make funds available for disbursement.(f) Section 36(1)(vii a) of the Act provided for deduction in respect of the provision

Yoshio Kubo Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

in clause (iv) or clause (v) or any expenditure referred to in clause (ix) of subsection (1) of Section 36 shall not be taken into account." Through Finance Act, 1968, sub-clause (iii) to Section 40 (c) was deleted; … virtue of Section 10(10CC), introduced and brought into force in the Statute with effect from 01.04.2002 by the Finance Act, 2003, they were not liable to pay tax on such amounts which constituted the income tax component paid … 18. Till 31-3-1972, Section 40(a) (v) was in force and from 1-4- 1972, 40-A (5) came into force in its place. Both provisions were substantially

C.W.S. (India) Limited Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : [1994]208ITR649(SC); JT1994(3)SC116; 1994(1)SCALE840; 1994Supp(2)SCC296; [1994]2SCR247

of that section or any payment referred to HI clause (iv) or clause (v) of Sub-section (1) of Section 36 shall not be taken into account.3. By Finance Act, 1968, sub-clause (iii) in clause (c) of Section 40 … 40(c)(iii) which was, of course, applicable only to companies and not to other assessees.2. Section 40(c)(iii) introduced by Finance Act, 1973 with effect from April 1, 1963, as substituted by Finance Act, 1964, read as follows:40 Amounts not … the interpretation of Section, 40(a)(v) as well as Section 40A(5) of the Income Tax Act. Upto March 31, 1972, Section 40(a)(v) was in force arid from April 1, 1972, Section 40A(5) came into force in its place. Both

Continental Construction Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10, 10(5) and (6), 17, 30, 31, 32, 33, 34, 35, 36, 36(1), 37, 38, 39, 40, 40(A), 40(C), 40A(1) and 40A(5), 80, 80-O, 80MM, 80HHB and 80HHB(5), 85C, 163, 261 and 288

Reported in : [1990]69CompCas268(Delhi); (1990)85CTR(Del)116; [1990]185ITR178(Delhi)

the Tribunal is right in holding that the assessed-company is not an 'industrial company' as defined in the Finance Act, 1982 ?' 2. At the instance of the respondent the Tribunal has referred the following question of law … section 40(c) and was incorporated as sub-clause (v) in section 40. At that time, prior to April 1, 1972, section 40 contained a restriction with regard to the expenditure which could be allowed as a deduction by the … of that section or any payment referred to in clause (iv) or clause (v) of sub-section (1) of section 36 shall not be taken into account.' 75. Further, the then existing Explanationn was renumbered as Explanationn 1 and,

itc Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2003)86ITD135(Kol.)

was issued by the CBDT to explain the substance of the provisions relating to direct taxes in the Finance Act, 1986. The learned authorised representative is also silent about the observation of the AO that this type of … Ltd. (supra) was decided by the Supreme Court on 3rd Feb., 1999, but it pertained to asst. yr. 1972-73. The case decided by the Bench of this Tribunal cited by the learned authorised representative in his own … the AO in rejecting the appellant's claim for being allowed deduction under Section 36(1)(iii) of IT Act, 1961, while computing the income chargeable under the

Potlabathuni Srikanth and Others Vs. Shriram City Union Finance Limite ...

Court : Andhra Pradesh

Subject : Arbitration

in A.O.P. No.374 of 2012. (b) The decree-holder viz., Shriram City Union Finance Limited, Mangalagiri Branch, through its authorized representative, filed A.O.P. No.374 of 2012 … for respondent No.1 would submit that in view of the provisions of Section 16 of A.P. Civil Courts Act 1972, dealing with the limits of pecuniary jurisdiction of Civil Courts and provisions of Section 37 of CPC dealing … Civil JudgesCourt to entertain EPs when the awards passed by the arbitrators are sought to be enforced under Section 36 of the Act. 13. Heard Sri K. Rajanna, learned counsel for the petitioners in C.R.P. Nos.1340 and 1779

Sudhir Vohra vs.registrar of Companies and Ors.

Court : Delhi

Subject : Education

registered architects. The... Petitioners therein seek a direction to the Ministry of Finance to cancel the permission granted to RSP Architects Planners and Engineers (PTE) … writ petition bearing No.W.P.(C) No.934/2012 has been preferred by Mr. Sudhir Vohra, an architect registered under the Architects Act, 1972 (hereinafter referred to as the "Act"), mainly seeking the issuance of a writ of mandamus directing the Registrar … prohibits any person other than a registered architect from using the title and style of 'architect' as also Section 36, which provides for a penalty in case of a violation of Section 37. His contention, thus, is that