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Vijaya Bank Vs. Commissioner of Income Tax and anr.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1) and 41(4); ;Finance Act, 2001

Act, 1961 ['1961 Act', for short] read with Explanation thereto which Explanation stood inserted in 1961 Act by Finance Act, 2001 with effect from 1st April, 1989. The assessee carried the matter in appeal before the Commissioner of … could not be equated with the actual write off of the bad debt, as per the requirement of Section 36(1)(vii) of the Income Tax Act, 1961 ['1961 Act', for short] read with Explanation thereto which Explanation stood

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … applies only to tax that is demanded by revenue authorities (and if so, what amounts to a demand). 36. For the appellants Mr Aaronson QC took the lead in making submissions on issues of EU law, followed

C.i.T. Jodhpur Vs. Achaldas Dhanraj and anr.

Court : Rajasthan

Subject : Direct Taxation

Reported in : 1995(2)WLN208

of the learned Counsel for the Revenue is that the amendment in Section 43B was made by the Finance Act, 1988 and was effective from 1.4.1988. The Tribunal has erred in giving the retrospectivity to the said amendment … on or before the due date as defined in the Explanation below Clause (va) of Sub-section (1) of Section 36.Explanation: For the removal of doubts, it is hereby declared that where a deduction in respect of any sum

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

of the Companies Act, 1956-namely (i) the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the Life Insurance Corporation of India and … debts due to banks and financial institutions.16. The said Act is the result of two Reports, one of 1981 of a Committee headed by Sri T. Tiwari and the other by a Committee headed by Sri M. … before us against an order passed by the learned Company Judge under Sections 442 and 537 of the Companies Act, (in a winding up petition … the Companies Act. The cases in Re Webb and Co. 1922(2) Ch. 369 (A) and Food Controller v. Cork 1923 AC 647 were followed. It

National Engg. Co-ordination Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1992)43ITD612(Pune.)

Ganesh also relied on the Finance Minister's speech and Notes to the Clauses explaining the provisions to the Finance Act, 1983 wherein it. is clear that the expression "invested or deposited" used in Section 13(1)(d.) only reflects the … Mr.Ganesh placed reliance on the decision of the Madras Bench of the Tribunal in Auoboutique Trustv. ITO [1990] 36 TTJ (Mad.) 318 which specifically states that the object of insertion of Section 11 (4A) was to get

Commissioner of Income-tax Vs. Industrial Promotion and Investment Cor ...

Court : Orissa

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : (1992)103CTR(Ori)222; [1993]199ITR761(Orissa)

have been substitutions and insertions by the Finance Act, 1979, with effect from April 1, 1980 ; the Finance Act, 1981, with effect from April 1, 1982. The original Explanation which was inserted by the Finance Act, 1970, with … A. Pasayat, J. 1. On being moved by the Revenue under Section 256(1) of the Income-tax Act, 1961 (in short, 'the Act'), the Income-tax Appellate Tribunal, Cuttack Bench, Cuttack (in … justified in holding that the total income on which deduction under Section 36(1)(viii) of the Income-tax Act, 1961, has to be computed must be calculated

Commr. of Income Tax Vs. Gujarat Maritime Board

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Gujarat Maritime Board Act, 1981 - Sections 3(2), 25, 26, 73, 74 and 75; General Clause Act, 1897 - Sections 3(31); Income Tax Act, 1961 - Sections 2(15), 10(20), 11, 11(1), 11(4), 11(16), 12A and 60 to 63; Finance Act, 2002; Gujarat Maritime Board Act, 1981; Indian Ports Act, 1903 - Sections 36; Banking Companies Acquisition and Transfer of Undertaking Act, 1970 - Sections 2; Public Trust Act

Reported in : (2008)214CTR(SC)81; [2007]295ITR561(SC); 2007(14)SCALE21; 2007AIRSCW7912; 2008(3)KCCRSN199

income of the Board was not eligible to income-tax under Section 10(20) or the Income-tax Act, 1961.3. By finance Act, 2002, an Explanation was added in Section 10(20) by which 'Local Authority' was defined. It gave a restricted … by it as the Conservators of the Ports and of their approaches or as the body appointed under Section 36 of the Indian Ports Act, 1903 shall be credited to a fund called the General Account of the … ORDER1. Leave granted.Gujarat Maritime Board is a statutory Authority constituted under Section 3(2) of Gujarat Maritime Board Act, 1981.2. Before 13.11.2002, the Board was registered as 'Local Authority' as defined under Section 3(31) or the General Clause

Tvs Finance and Services Ltd., Jayalakshmi Estates Vs. the Joint Commi ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 18, 28, 36, 36(1), 36(2), 115JA and 145(1); Reserve Bank of India Act; Companies Act; Companies Rules - Rule 7(2)

Reported in : (2010)228CTR(Mad)546; [2009]318ITR435(Mad)

and 110 of 2002 and will be dealt with by a common order.3. The assessee is a non-banking finance company engaged in lease, hire purchase, bills discounting and mortgage loans. According to the assessee, it is required … a business loss Under Section 28 of the Income Tax Act, if not as a bad debt Under Section 36(1)(vii) of the Income Tax Act, 1961?(iii) Whether order of the Income Tax Appellate Tribunal rejecting the Appellant's method

S. Kumar and ors. Vs. Collector of Central Excise and

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Land Acquisition

Reported in : (1990)LC725Tri(Delhi)

a part of the statute.25. He also placed on record a letter dated 28-2-1981 from the! Ministry of Finance (Department of Revenue) to show that the post o Additional Collector has been created with the sanction of … of the Act has chosen to define certain terms, for the purpose of said Chapter by means of section 36 of the Act which Chapter exclusively relates to appeals, and the fact that it was not done would

Bhanwarlal and ors. Vs. Rajasthan State Road Transport Corporation and ...

Court : Rajasthan

Subject : Labour and Industrial

Reported in : (1985)ILLJ111Raj

Section 23 of the Road Transport Corporations Act and Chapter IV of it contains the provisions for the finance and funds and, the scheme of Sections 23, 24, 25, 26 as well as 27 and other provisions … the various dictums of law from Shyamalal : (1954)IILLJ139SC to Air Hostess 1981 Lab IC 1313 (SC), we have to travel through plethora of decisions … Annual report submitted to the State Government is required to be placed before the Legislature of the State. Section 36 gives powers to the State Government to order inquiries for proper performance of the duty by the Corporation.