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Cwt Vs. Jodhana Real Estate Development Co. (P) Ltd.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2002)178CTR(Raj)305

account of revival of levy of wealth-tax in the case of closely-held companies by section 40 of the Finance Act, 1983, the assessee filed its return of wealth for the assessment year 1984-85 on 30-3-1985, declaring a total wealth … of the case the Tribunal was legally justified in directing that the immovable properties be valued as per Schedule III to the Wealth Tax Act for the assessment of assessment year 1984-85 whereas the said Schedule III

The Appraiser, Appraising Department (Group Ii), Madras Customs, Custo ...

Court : Chennai

Subject : Customs

Reported in : 1988(17)ECC119

year to the 31st March of the next year. The Finance Act relevant in this case is the Finance Act, 1983. Section 45 thereof provided for levy and collection of auxiliary duty of customs at an amount equal to … effect--Heading 84.66 is a specific entry and not a general or residuary Entry--Customs Tariff Act (51 of 1975), Schedule I, headings 84.31, 84.66--Notfns. Nos. 61/83-Cus, 62/83-Cus, dated 1-3-1983. - - 3. Section 2 of the Customs Tariff Act

Commissioner of Income-tax Vs. Jodhan Real Estate Development Co. P. L ...

Court : Rajasthan

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 3; Finance Act, 1983 - Sections 40 and 40(3); Finance Act, 1988 - Sections 87

Reported in : [2003]259ITR79(Raj); 2003(2)WLN515

revival of the levy of wealth-tax in the case of closely held companies by Section 40 of the Finance Act, 1983, the assessee filed its return of wealth for the assessment year 1984-85 on March 30, 1985, declaring a … Sub-section (2) of Section 7 and Clause (d) of Section 45 of that Act and Part II of Schedule I to that Act shall not apply and shall have no effect ; (b) the remaining provisions of that

Sedco Forex International Drill. Inc. and ors. Vs. Commissioner of Inc ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4(1), 5(2), 9, 9(1) and 119; ;Finance Act, 1999 - Sections 9(1); ;Finance Act, 1983

Reported in : AIR2006SC428; (2005)199CTR(SC)320; [2005]279ITR310(SC); JT2005(5)SC639; (2005)12SCC717

it stood then, could not be invoked.8. To overcome this decision, Section 9 (1)(ii) was amended by the Finance Act, 1983 with effect from 1.4.1979 to include an Explanation to Section 9(1)(ii) which read as follows:-'Explanation-For the removal of … executed in the United Kingdom) with each of its employees who are residents of the United Kingdom. The schedule of work as specified in the agreements envisaged 35 days or 28 days work in a foreign location

income-tax Officer Vs. R. Sivaraman

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1989)31ITD338(Mad.)

that such a consideration is necessary, the definition of the words 'industrial undertaking' underwent a change under the Finance Act, 1983 which came into force from 1-4-1983 and it is clearly applicable to the facts of this case. The … fittings. They have to be treated only as capital assets. No depreciation is provided for in the depreciation schedule in the Income-tax Rules for centering sheets and hence he disallowed the depreciation of Rs. 10,233.2. Aggrieved against

Tulsidas Vs. Patel (P) Ltd. V. Wealth Tax Officer

Court : Mumbai

Subject : Direct Taxation

Reported in : (1998)61TTJ(Mumbai)282

the Tribunal held that the whole property was not liable for wealth- tax under section 40 of the Finance Act, 1983, and in support thereof, the assessee produced the Tribunals order dated 9-12- 1994 for assessment years 1988-89 and … Wealth Tax Act and clause (d) of section 45 of the Wealth Tax Act and Part II of Schedule I to that Act are the provisions which should not apply while dealing a case under section 40 of

Tulsidas V. Patel (P.) Ltd. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1998)65ITD287(Mum.)

years the Tribunal held that the whole property was not liable for wealth-tax under section 40 of the Finance Act, 1983, and in support thereof, the assessee produced the Tribunal's order dated 9-12-1994 for assessment years 1988-89 and 1989-90 … of the Wealth-tax Act and clause (d) of section 45 of the Wealth-tax Act and Part II of Schedule I to that Act are the provisions which should not apply while dealing a case under section 40 of

Plasticotes Investments Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1992)40ITD332(Mum.)

flats in Anand Kamal are let out to the director of the assessec-company.3. By Section 40 of the Finance Act, 1983, the levy of wealth-tax was revived in the case of closely held companies. In its return of net … Sub-section (2) of Section 7 and Clause (d) of Section 45 of that Act and part II of Schedule I to that Act shall not apply and shall have no effect; (b) the remaining provisions of that Act

Commissioner of Wealth Tax Vs. Cosmopolitan Hospitals (P) Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1983 - Sections 40, 40(2) and 40(3)

Reported in : (2003)185CTR(Ker)111; [2004]265ITR312(Ker)

under the WT Act, 1957 (for short 'the Act').2. The scope and ambit of Section 40(3)(vi) of the Finance Act, 1983, regarding the computation of net wealth of a closely-held company which was made liable to wealth-tax assessment as … of this section. Section 5 and Clause (d) of Section 45 of that Act and Part II of Schedule I to that Act shall not apply and shall have no effect. It also provides that the remaining provisions

Commissioner of Wealth Tax Vs. Mohan Exports India P. Ltd.

Court : Delhi

Subject : Direct Taxation

favour of the Assessee. Therefore it was not an 'asset' under Section 40 (3) of the WTA Nos. Finance Act 1983. The CIT (A) accepted the above plea and held that the value of the land at 8 and … sub-section (2) of section 7 and clause (d) of section 45 of that Act and Part II of Schedule I to that Ad shall not apply and shall have no effect, (b) the remaining provisions of that Act