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Hindustan Unilever Limited Vs. Assistant Commissioner, Commercial Taxe ...

Court : Kolkata

Subject : Sales Tax/VAT

Acts : West Bengal Sales Tax Act, 1994 - Sections 15, 17, 17(2) and 17(3); ;Central Sales Tax Act, 1956 - Section 5, 5(1), 5(3) and 6A; ;West Bengal Sales Tax Rules, 1995 - Rules 42 and 81; ;Finance Act, 1972; ;Bihar Finance Act, 1981 - Section 13(1); ;Constitution of India - Article 286

Reported in : 2008BusLR303(NULL)

Section 5(2)(a)(ii) and the second proviso. Section 5(2)(a)(ii) was amended with effect from 28th May, 1972, by the Finance Act, 1972, and the words in the Union Territory of Delhi were added after the word manufacture so as to … at Kolkata and Siliguri tea auctions through tea brokers. 3. West Bengal Sales Tax Rules, 1995 framed Rule 42 made pursuant to Section 17(3)(a)(xi) of the Act and Rule 81 made pursuant to Section 17(3)(3)(iii) of 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 … of the directions contained in the award, the Hon'ble Supreme Court held that Court for the purpose of Section 42 of the Act would be the High Court and not District Court ?. It would be appropriate to

Commissioner of Income Tax Vs. Kerala State Financial Enterprises Ltd. ...

Court : Kerala

Subject : Direct Taxation

Acts : Interest Tax Act, 1974 - Sections 2(7); Finance (No. 2) Act, 1991; Reserve Bank of India Act, 1934 - Sections 42(IB); Motor Vehicles Act, 1988 - Sections 51(1); Hire Purchase Act, 1972; Income Tax Act - Sections 194A

Reported in : (2008)220CTR(Ker)286

of exchange drawn or made in India, but does not include-(i) interest referred to in Sub-section (IB) of Section 42 of the Reserve Bank of India Act, 1934 (2) of 1934);(ii) discount on treasury bills.Admittedly, the 'finance charges' … is really a hire-purchase under the Act. The Tribunal heavily relied on the provisions of the Hire Purchase Act 1972 and took the view that transaction of hire-purchase is not 'loan or advance' as defined under Section 2(7)

Commissioner of Income-tax Vs. Muthoot Leasing and Finance Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Interest-tax Act, 1974 - Sections 2(7); Finance (No. 2) Act of 1991; Reserve Bank of India Act, 1934 - Sections 42(IB); Motor Vehicles Act, 1988 - Sections 51(1); Hire Purchase Act, 1972; Income Tax Act - Sections 194A

Reported in : [2009]181TAXMAN197(Ker)

of exchange drawn or made in India, but does not include:(i) interest referred to in Sub-section (IB) of Section 42 of the Reserve Bank of India Act, 1934 (2 of 1934);(ii) discount on treasury bills.Admittedly the 'finance charges' … really a hire purchase under the Act. The Tribunal heavily relied on the provisions of the Hire Purchase Act, 1972 and took the view that transaction of hire purchase is not 'loan or advance' as defined under Section

Mcdermott International Inc. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1994)49ITD590(Delhi)

of the Act. To this extent, the assessee succeeds.13. Section 44BB was inserted into the Income-tax Act by Finance Act, 1987, with retrospective effect from 1-4-1983 for purposes of computing the profits & gains in connection with the … the word 'connected' means joined, linked, coherent, related (Chamber's Twentieth Century Dictionary, 1972 edition, page 275). The facilities provided by the assessee are linked or … of business or profession": Provided that this sub-section shall not apply in a case where the provisions of Section 42 or Section 44D or Sections 115A or Sections 293A apply for the purposes of computing profits and gains

Commissioner of Income Tax Vs. Rashmi Kamdar

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(24), 3, 3(1), (3), 4, 10(3), 14, 28, 56(1), 59, 139 and 263; Wealth Tax Act, 1957 - Sections 2 and 3(2)

Reported in : (1996)131CTR(Mad)277; [1996]217ITR559(Mad)

of s. 59 of the Act and stated as follows : 'The effect of s. 59 of the Finance Act, 1972, is that notwithstanding the amendments to the definition of income in s. 2(24) and the amendment to s. … other sources--Race winnings earned before 1-4-1972 whether assessable in the assessment year 1973-74 by virtue of amendment in section 56 of the IT Act. Ratio : That the income from race winnings cannot be considered in the … circumstances of the case, the Tribunal's view that the sum of Rs. 42,383 being the income from race winnings cannot be considered in the previous

Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2000)241ITR43(Mum.)

incorporated mainly to encourage earning of the foreign exchange, inviting our attention to the relevant notes to the Finance Act, 1967, the learned counsel contended that s. 85C granted the deduction till asst. yr. 1972-73 when s. 80-O … words 'the income so received" in s. 80-O. It was reiterated that s. 80-O is a stand alone section.Referring to the decision of the Supreme Court in the case of Distributors (Baroda) (P) Ltd. vs. Union of … : ---------------------------------------------------------------------- ITA No. Name of the case Counsel's name ---------------------------------------------------------------------- 1. 4203/Mum/98 P. N. Writer & Co. Shri A. M. Shah 2. 4102, Mum/96

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 … account of notices issued by the Income Tax Department as to why they should not be treated as 42 defaulters for non production of TDS prior to the payment of Stake Money to the owners of horses

Muthoot Leasing and Finance Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2003)84ITD477(Coch.)

per cent. In relation to scheduled banks, the tax operation was suspended after 28th Feb., 1978, by the Finance Act, 1978. "Subsequently, the scope of the Interest-tax Act was extended to selected public financial institutions also. Operation of … hire-purchase finance companies are within the ambit of 'interest' as defined in Section 2(7) of the IT Act, 1974. The Board subsequently clarified the position … No. 760, dt. 13th Jan., 1998, and Sections 2(c), 2(e), 2(f), 7(b) and 8 of the Hire Purchase Act, 1972.8. The learned CIT(A) noticed that the assessee, in fact, first received the application from the applicant for advance

Jiyajeerao Cotton Mills Ltd. Vs. Income-tax Officer, c Ward and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80E and 154; ;Finance Act, 1965

Reported in : [1981]130ITR710(Cal)

that soda ash is one of the items mentioned in Part III of the First Schedule to the Finance Act, 1965, and the appellant was, therefore, entitled to a special rebate of 35 per cent. on the profits … Ltd. : [1978]112ITR246(Cal) . Here a Division Bench of this court considered the effect of the I.T. (Amend.) Act, 1972, on a proceeding for rectification of a mistake initiated under Section 35 of the Indian I.T. Act, 1922, … on the 24th December. 1975, 'taking an entirely different and contrary view. 42. In the above facts and circumstances, we are unable to accept the