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Commissioner of Income-tax Vs. Orient Paper Mills Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 40 and 80I; ;Finance Act, 1972

Reported in : (1981)23CTR(Cal)180,[1983]139ITR763(Cal)

80-I, the subject-matter covered by Section 80-I was dealt with by Section 80E, which was inserted by the Finance Act of 1966 with effect from April 1, 1966. That section was deleted and Section 80-I was introduced with … did not amount to perquisites and the same could not be considered in making a disallowance under Section 40(a)(v) of the I.T. Act, 1961. The ITO disallowed Rs. 16,678 which included the cash allowance of Rs. 8,623.5.

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

amount of Rs.2,04,39,093/- under provisions of Rule 14 of the Credit Rules read with Section 73 of the Finance Act,1994. In respect of towers and parts thereof, prefabricated building, printers and office chairs, the Commissioner observed that the … of excise leviable under section 3 of the Additional Duties of Excise (Textile and Textile Articles) Act,1978 ( 40 of 1978);(iv)(iv) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

the contentions raised by Sri S S Naganand for petitioners and contends that for the first time by Finance Act, 1972 the definition of 'income', in Section 2(24) of the Act was amended to include winnings from lotteries, crossword … gambling or betting of any nature whatsoever would be chargeable to income tax at a flat rate of 40% on the gross winnings and contends that this charge of taxation does not apply to the owning and

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

contentions raised by Sri S S Naganand for petitioners and contends that for the first time by 27 Finance Act, 1972 the definition of ‘income’, in Section 2(24) of the Act was amended to include winnings from lotteries, crossword … 9. Mr.R.R.Byramji, 10. Mr. Darius R Byramji, 11. Mr.Warren Singh, 12. Mr. Neil Darashah, S/o R.R.Byramji Aged about 40 years Residing at ‘Darius Villa’, No.17/14, Ali Askar Road, Bangalore-560 052. S/o Mr. Charanjit Singh Aged about 50

Glaxo Laboratories (India) Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)18ITD226(Mum.)

84 ITR 661 observed that it was well recognized that specific dates in the 1961 Act and the Finance Act, 1955, had reference to assessment years and had nothing to do with the accounting years of an assessee … Pershadv. CIT were dealing with the assessability to capital gains of sale of ornaments in the financial year 1972-73 in view of amendment of Section 2(14)(ii) of the Act made effective from 1-4-1973 by including jewellery in … Special Bench was constituted to consider the question whether provisions of Section 40A(8) of the Income-tax Act, 1961 ('the Act') are applicable to assessment year

Grand Kakatiya Sheraton Hotel and Towers Employees and Workers Union V ...

Court : Supreme Court of India

Subject : Labour and Industrial

Acts : Andhra Pradesh Shops and Establishments Act, 1988 - Sections 16(3), 47, 47(3) and 47(4), 47(5), 50 and 51; Companies Act; Andhra Pradesh Shops and Establishments Act, 1966 - Sections 40, 40(1) and 40(3); Payment of Gratuity Act, 1972 - Sections 1(3), 2, 3A, 4(1), 7, 7(1), 7(2) and 7(3); Factories Act, 1948 - Sections 2(5), 2(8), 2(10) and 2(11); Industrial Disputes Act, 1947 - Sections 25F; Orissa Administrative Service, Class II (Appointment of Officers Validation) (Amendment) Act, 1992 - Sections 2; Constitution of India - Articles 13, 14 and 19(1), 254(2) and 309

Reported in : AIR2009SC2337; [2009(121)FLR407]; JT2009(4)SC550; (2009)IIILLJ161SC; 2009(3)SCALE371; (2009)5SCC342:2009AIRSCW3149:2009(5)LHSC3456

in Express Newspapers v. Union of India (cited supra) and Peerless General Finance And Investment Co. Ltd. v. R.B.I. reported in : 1991CriLJ1391 . Thereafter, … 15 of 1966) (hereinafter referred to as `the 1966 Act') came on the anvil in the year 1966. Section 40 of the 1966 Act provided for conditions for terminating the service of an employee, as also the payment … this Section shall not apply in caseswhere the employee is entitled to gratuity under the payment of Gratuity Act,1972 and gratuity has been paid accordingly consequent on the termination orcessation of service.At this juncture, it will be

Commissioner of Income-tax Vs. May and Baker (India) Pvt. Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Enactment of Payment of Gratuity Act, 1972 - Sections 40(A)(7); Finance Act, 1975; Income Tax Act, 1961 - Sections 37, 40A, 40A (7) and 260(1)

Reported in : (1991)95CTR(Bom)168; [1991]192ITR239(Bom)

section 40A(7) was introduced in the Income-tax Act, 1961, with retrospective effect from April 1, 1973, by the Finance Act, 1975, on May 12, 1975. The assessment year involved herein being assessment year 1973-74, ordinarily the assessee's claim … case, the liability of the assessee in the matter of payment of gratuity under the Payment of Gratuity Act, 1972, of Rs. 5,34,000 is an allowable revenue expenditure in the assessment of the assessee for the accounting period … dismissed the departmental appeal. 5. It is pertinent to mention that section 40A(7) was introduced in the Income-tax Act, 1961, with retrospective effect from April

The Commissioner of Income Tax and Another Vs. V.S. Dempo and Co. Pvt. ...

Court : Mumbai

Subject : Direct Taxation

is not relevant for our purpose. We are also not concerned with insertion of section 9A by the Finance Act 2015 with effect from 1st April, 2016. 19. By Chapter III, incomes which do not form part of … of law for opinion of a larger bench. Q. Whether, while dealing with the allowability of expenditure under section 40(a)(i) of the Income Tax Act, 1961, the status of a person making the expenditure has to be a

Commissioner of Income-tax Vs. Avon Cycles (P.) Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 40 and 40A

Reported in : (1980)18CTR(P& H)231; [1980]126ITR448(P& H)

be correct in view of the comments made at page 16 of the explanatory note of the relevant Finance Act, 1971. '8. After the assessment, the ITO wrote a letter dated 29th March, 1973, that in view of … After the assessment, the ITO wrote a letter dated 29th March, 1973, that in view of the amended Section 40(c) of the Income-tax Act, 1961 (hereinafter called ' the Act '). with effect from 1st April, 1972, each

Pallonji Shapoorji and Co. (P) Vs. Deputy Commissioner of Wealth Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)102ITD101(Mum.)

right to occupy premises belonging to a co-operative housing society are taxable assets under Section 40 of the Finance Act, 1983 in the case of a private limited company? Assessee has filed its return of wealth on 9th … legitimate field".20. Inviting our attention to paper book p. 155, i.e., Board Circular No. 72, dt. 6th Jan., 1972, learned Counsel submitted, co-operative societies are exempted from the rigors of wealth-tax. The net wealth of a co-operative