Advanced Search Results

Dharmodayam Company Vs. Union of India (Uoi)

Court : Kerala

Subject : Civil

Acts : Kerala Chitties Act, 1975 - Sections 2(4), 3, 3(1), 3(2), 4, 4(1), 5, 6, 6(3), 11, 12, 13, 14, 15, 17, 18, 19, 21, 22, 23, 24, 25, 26, 29, 34, 35, 39, 40, 42, 43, 55, 56, 59, 60, 67, 72, 89 and 220; Kerala Finance Act, 2002; Chit Funds Act, 1982 - Sections 1(3), 2, 4(1), 7(3), 8, 9(1), 20 and 90; Constitution of India - Articles 14, 19(1), 226, 245 to 255; Companies Act; Finance Act, 2002 - Sections 3(5) and 4; Kerala Chittis (Amendment) Act, 2002

Reported in : AIR2005Ker253; [2005]126CompCas586(Ker); 2005(3)KLT332

constitutional validity of Sub-section 1(a) to Section 4 of the Kerala Chitties Act, 1975 introduced by the Kerala Finance Act, 2002 (Act 7 of 2002) with effect from 1.4.2002 as beyond the legislative competence of the State Legislature … be read in isolation. The same has to be read along with Section 1(3) of the Chit Funds Act, 1982. Section 1(3) of the Act states that the Chit Funds Act, 1982 shall come into force on such date … deal with termination of chitties. Section 40 to 42 deal with inspection of documents by subscribers and Registrar. Section 43 to 55 deal with winding up of chitties. Section 56 to 59 deal with registration of office and

Super Spinning Mills Ltd. Vs. Commissioner of Income-tax and anr.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 156, 220 and 220(2); Taxation Laws (Continuation and Validation of Recovery Proceedings) Act, 1964 - Sections 3; Finance Act, 1986

Reported in : [2000]244ITR814(Mad)

Income-tax (Appeals), the Income-tax Officer filed an appeal to the Income-tax Appellate Tribunal, Madras. In the meantime, the Finance Act, 1986, added an Explanation 8 to Section 43(1) with retrospective effect from April 1, 1974. In view of … on such capitalised interest. 3. It is stated that the Income-tax Officer by his order dated October 15, 1982, for the assessment year 1979-80 and May 8, 1984, for the assessment year 1980-81 rejected the claim of

Commissioner of Income-tax Vs. Daudayal Hotels Pvt. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 5, 28 to 41, 43, 43(6) and 256(1); Income Tax Act, 1922 - Sections 10(2); Finance Act, 1983; Income Tax Act, 1866

Reported in : (2005)199CTR(Guj)556

on new hotel building is not deductible for arriving at WDV in view of the amendments effected by Finance Act, 1983? 2. The Assessment Year is 1985-86 and the relevant accounting period is calender year ended on 31st … impugned order of Tribunal by inviting attention to definition of SWritten Down Value, as appearing in Sub-section(6) of Section 43 of the Act. According to him, Clause (b) of Sub-section(6) states that Written Down Value means the actual … was right in law in holding that initial depreciation allowed in A.Y. 1982-83 on new hotel building is not deductible for arriving at WDV in

Commissioner of Income-tax Vs. India Steamship Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 43 and 43(1)

Reported in : [1992]196ITR917(Cal)

expenditure, but the intention of the Legislature as contained in Explanation 8 to Section 43(1) inserted by the Finance Act, 1986, is that the benefit of such capitalisation would be denied on and from the assessment year 1974-75.

Dalmia Cement (Bharat) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1996)56ITD355(Delhi)

cost" as given in Section 43(1) read with the provisions of Explanation 8, which was inserted by the Finance Act, 1986, with retrospective effect from 1-4-1974 and submitted that the said provisions of Explanation 8 excluded interest on … mentioned that department's SLP against the judgment dated 21-10-1982 of Gujarat High Court in ITA No. 118 of 1982 was dismissed; The learned counsel further submitted that depreciation and investment allowance claimed by the assessee with reference

Sanjay Khetan Vs. Commissioner of Income-tax and ors.

Court : Allahabad

Subject : Direct TaxationProperty

Acts : Income Tax Act, 1961 - Schedule II - Rule 68B; Constitution of India - Article 226; Finance Act, 1992 - Sections 245I

Reported in : (2004)188CTR(All)361; [2004]266ITR453(All)

Rule 68B of the Second Schedule to the Income-tax Act, 1961. Rule 68B which was inserted by the Finance Act, 1992, with effect from June 1, 1992, states :'Time-limit for sale of attached immovable property.--(1) No sale of … but also other properties as being time barred. The petitioner alleged that the recovery certificate dated March 21, 1982, and all the recovery proceedings pursuant thereto and the sale proclamation dated January 4, 1995, were illegal and … immovable property has been attached, has become conclusive under the provisions of Section 245-I or, as the case may be, final in terms of the

Gujarat Alkalies and Chemicals Ltd. Vs. Deputy Commissioner of Income ...

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2002)82ITD135(Ahd.)

i.e.., 1st April, 1999. According to the learned counsel, the legislative intention in introducing Section 35AB by the Finance Act, 1985, w,e.f. 1st April, 1986, and thereafter substituting the same by a new provisions allowing depreciation on the … that the asseseee shall pay a fee of DM 6,00,000 for grant of licence and further payment of 43,60,000 DM for the performance of services as per Article 2.2 and Article 2.3 reproduced hereinbefore.4.5. From the aforesaid

Aeroplane Shoe Factory Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1989)28ITD478(Delhi)

1973 with6. Explanation 2 to Section 37(2A) Inserted by the Finance Act, 1983 with retrospective7. Explanation 8 to Section 43 Inserted by the Finance Act, 1986 with retrospective As against these 7 instances there are 11 other instances … to which retrospectivity can be normally attracted. No doubt, the Explanation to section 263(1) as substituted by the Finance Act, 1988 with effect from 1-6-1988 incorporates the provision regarding partial merger (vide clause (c)) but in the light … Commissioner of Income-tax, Delhi-VII, New Delhi for the assessment years 1981-82 and 1982-83 under Section 263 of the Income-tax Act, 1961 by which he set

Commissioner of Income-tax Vs. Shivalik Hatcheries Pvt. Ltd.

Court : Himachal Pradesh

Subject : Direct Taxation

Reported in : (2009)222CTR(HP)299,2008(2)ShimLC362,[2010]186TAXMAN79(NULL)

the purposes of the business of profession but does not include tea bushes or livestock.5. Later on vide Finance Act of 2003 w.e.f. 1.4.2004 the following words were added at the end of the definition:Or building or furniture … We now take up the first question for consideration. The relevant Section to be taken into consideration is Section 43 of the Act, which provides for depreciation. 'Plant' has been defined in Section 43(3). The definition of plant … to ESA. The relevant assessment years with which we are concerned are 1982-83 to 1985-86.4. We now take up the first question for consideration. The

Gujarat Forging (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (1996)56ITD208(Ahd.)

as the said judgment considered the effect of amendment of Section 263 made with retrospective effect by the Finance Act, 1989 and did not relate to the question of limitation of the period for passing an order under … amount thereof, Explanation 1: In this clause 'actual cost' has the same meaning as in Clause (1) of Section 43. Explanation 2 : In this clause and in Clause (III), 'computation period' means the period for which profits … interest expenditure of Rs. 24,828.5. The original assessment order for assessment year 1982-83 was made on 15-11-1984. The CIT passed the order under Section 263