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Commissioner of Wealth-tax Vs. Kodaikanal Club

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1983 - Sections 40, 40(1), 40(6) and 40(7); Wealth Tax Act, 1957 - Sections 2, 3 and 21AA; Finance Act, 1960 - Sections 13; Societies Registration Act, 1860; Income Tax Act, 1961 - Sections 2(17) and 2(18)

Reported in : (2003)181CTR(Mad)534; [2003]260ITR617(Mad)

the assessee-club became inexigible to wealth-tax from the assessment year 1974-75 onwards. However, by Section 40 of the Finance Act, 1983, the levy of wealth-tax on closely held companies was revived. Hence, the assessee-club by its representation dated January … K. Raviraja Pandian, J. 1. The assessee, a members' club, catering exclusively to the social and cultural needs of its members, registered itself

Commissioner of Wealth-tax Vs. Malabar and Pioneer Hosiery P. Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 16(1) and 25(2); Finance Act, 1983 - Sections 35(7), 40 and 40(3)

Reported in : (2006)200CTR(Ker)287; [2006]280ITR260(Ker)

converted into a kalyana mandapam. The Commissioner took the view that the exemption under Section 40(3)(vi) of the Finance Act, 1983, will be available if the assessee uses the building as a factory, godown, warehouse, hotel for the purpose … S. Sankarasubban, J.1. These cases arise under the Wealth-tax Act, 1957 (hereinafter referred to as 'the Act'). The assessment years are 1985-86 and 1986-87. The assessments for these years

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 … G. Sivarajan, J. 1. The matter arises under the WT Act, 1957 (for short 'the Act').2. The scope and ambit of Section

Sita World Travel (i) (P.) Ltd. Vs. Deputy Commissioner of Income-tax.

Court : Delhi

Subject : Direct Taxation

Reported in : [1995]55ITD357(Delhi)

to the tourists. In this connection he invited our attention to the provisions of section 40 of the Finance Act, 1983, where by Wealth-tax was revived in the case of closely-held companies. He further referred to the provisions of … M. - The assessed is in appeal against the order of CWT (A) - XV, New Delhi dated 12-11-1990 on various grounds.2. Ground Nos. 1 is general in nature and needs no comments.3. Ground No. 2, 5

Cit Vs. Kerala Electric Lamp Works Ltd.

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]129TAXMAN549(Ker)

as 'salary' earned to India An Explanation was added to section 9(1)(ii) of the Income Tax Act by Finance Act, 1983 which was inserted with effect from 1-4-1979 as follows :'Explanation.For the removal of doubts, it is hereby declared

Britannia Industries Ltd. Vs. Commissioner of Income Tax, West Bengal, ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30 to 36, 37, 37(1), 37(3), 37(4), 37(5) and 80B; Finance Act, 1964 - Sections 37(3); Finance Act, 1970; Finance Act, 1997; Finance Act, 1983 - Sections 37

Reported in : AIR2005SC4333; (2005)198CTR(SC)313; [2005]278ITR546(SC); JT2005(12)SC98; 2005(8)SCALE148; (2006)1SCC646

(5) of the Income Tax Act, 1961, Section 37 (3) of Finance Act 1964 and Section 37 of Finance Act 1983 - Dispute with regard to disallowance of a sum of Rs. 31,38,017 for the assessment year 1994-1995, which … the instant case is with regard to disallowance of a sum of Rs. 31,38,017/- for the Assessment Year 1994-1995, which sum was claimed by the assessee as expenses towards rent, repairs, depreciation and maintenance of a guest

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

Commissioner of Wealth Tax Vs. Cadmach Machinery Co. Pvt. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 3 and 27(1); Finance (Amendment) Act, 1983 - Sections 40, 40(2) and 40(3); Finance Act, 1988 - Sections 87

Reported in : (2007)212CTR(Guj)285

in actual use for the purpose of business as contemplated under the provisions of Section 40(3)(vi) of the Finance Act, 1983?(2) Whether, by allowing the claim of the assessee, the appellate Tribunal has not caused violation to the plain … Bench 'B' has, at the instance of the Revenue, referred, under Section 27(1) of the Wealth Tax Act, 1957, the following questions of law arising out of its order dated 22.12.1995 in WTA No. 2589/Ahd/1991 in respect

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 fifty … these appeals is whether the respondent is entitled to the benefit of the notification No. 62/83. Cus., dated 1-3-1983 granting exemption from the whole of the auxiliary duty of customs leviable under Sub-clause (1) of Clause 45

Commissioner of Income-tax Vs. Alleppey Co. Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 35B, 35B(1), 37(2) and 37(2A); Finance Act, 1983

Reported in : (1994)116CTR(Ker)15; [1994]207ITR598(Ker)

to his employees in office, factory or other place of their work.'18. The Notes on Clauses of the Finance Act, 1983, explains the object of the amendment to the following effect (see [1983] 140 ITR 124):'Sub-clause (a)(ii) seeks to … in holding that the premium paid to the Export Credit Guarantee Corporation is eligible for weighted deduction under Section 35B ? 2. Whether the Income-tax Appellate Tribunal is justified in holding that the expenses incurred in presenting … entertainment expenditure for the purpose of Section 37(2) of the Income-tax Act, 1961 ?' 2. The respondent is the same assessee in all the four