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Commissioner, Income Tax, Thiruvananthapuram Vs. K. Ravindranathan Nai ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 44D, 70, 71, 80HHC, 80HHC(1), 80HHC(3) and 288(2); Customs Act, 1962 - Sections 50(1); Foreign Exchange Regulation Act, 1973; Finance Act, 1985; Direct Tax Laws (Amendment) Act, 1989; Finance Act, 1991; Finance Act, 1983

Reported in : 2008BusLR26(SC); (2007)213CTR(SC)227; [2007]295ITR228(SC); JT2007(12)SC504; 2007(13)SCALE134; 2007AIRSCW7112

said Head Note was inserted by Finance Act, 1985 w.e.f. 1.4.86. Under the original section as inserted by Finance Act, 1983, the Head Note stated 'deduction in respect of export turnover'. Therefore, the very basis shifted from 'export turnover' … contended that although the processing charges(receipts) amounting to Rs. 1,54,68,811 constituted part of business profits as computed under Section 28 of the I.T. Act, since Section 80HHC (3) was the formula to work out export incentive, the said

Mugat Dyeing and Printing Mills Vs. A.C.i.T.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act,1961 - Sections 28, 43B, 43(2), 143(1), 143(3), 145 and 263; ;Central Excise Duty and Salt Act, 1944; ;Finance Act, 1983

Reported in : (2007)207CTR(Guj)606; [2007]290ITR282(Guj)

43B which relates to certain deductions to be only on actual payment, has, originally been inserted by The Finance Act,1983. Section 43B as is relevant for the purpose of the present appeals, as it stood at the relevant … according to the method of accounting regularly employed by him) only in computing the income referred to in Section 28 of that previous year in which such sum is actually paid by him.21. The scope of effect of

Commissioner of Income-tax and anr. Vs. C.L. Gupta and Sons

Court : Allahabad

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 28 and 43B; Finance Act, 1983

Reported in : (2003)180CTR(All)530; [2003]259ITR513(All)

previous year in which such sum is actually paid by the assessee. This section was inserted by the Finance Act, 1983, and given effect from April 1, 1984. It was enacted to curb the practice of taxpayers, who on … tax, duty cess or fee under any law shall be allowed in computing the income referred to in Section 28 of that previous year in which such sum is actually paid by the assessee and, therefore, in the

The Commissioner of Income Tax Vs. Godaveri (Mannar) Sahakari Sakhar K ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 28, 36, 36(1), 43, 43B, 43(2), 139(1) and 145; Provident Funds Act; Finance Act, 2000; Finance Act, 2003 - Sections 21 and 43B; Finance Act, 1983; Finance Act, 1987; Finance Act, 1989

Reported in : (2007)109BOMLR2273; (2007)212CTR(Bom)384; [2008]298ITR149(Bom)

to the deletion of the proviso by to the Finance Act, 2003.4. Section 43B was inserted by the Finance Act 1983 with effect from 1st April 1984. The two provisos were added by Finance Act 1987 with effect from … according to the method of accounting regularly employed by him) only in computing the income referred to in Section 28 of that previous year in which such sum is actually paid by him:Provided that nothing contained in this

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 December, … and gains of business or profession, and lays down that in Sections 28 to 41 and in Section 43, unless the context otherwise requires, the … D.A. Mehta, J. 1. Income Tax Appellate Tribunal, Ahmedabad Bench SA has referred following question under Section 256(1) of the Income Tax Act, 1961 (the Act) at the instance of the Commissioner of Income Tax,

Commissioner of Income Tax Kolkata-iii Vs. Alom Extrusions Limited

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 28, 36(1), 43B and 139(1); Finance Act, 2003; Employees' State Insurance Act, 1948; Finance Act, 1988; Finance Act, 1989; Provident Fund Act; Finance Act, 1983

Reported in : (2009)227CTR(SC)417; [2009]319ITR306(SC); JT2009(14)SC441; 2009(14)SCALE163; (2010)1SCC489; [2009]185TAXMAN416(SC)

the Department for the following reasons: firstly, as stated above, Section 43B [main section], which stood inserted by Finance Act, 1983, with effect from 1st April, 1984, expressly commences with a non-obstante clause, the underlying object being to disallow … Section 43B [main section] made it mandatory for the Department to grant deduction in computing the income under Section 28 in the year in which tax, duty, cess, etc., is actually paid. However, Parliament took cognizance of the

Exide Industries Limited and anr. Vs. Union of India (Uoi) and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 36, 36(1) and 43B; ;Finance Act, 1983

Reported in : 2007CriLJ206,[2007]292ITR470(Cal)

of the said section were challenged by the appellant are as follows:(i) Section 43B was introduced by the Finance Act, 1983, w.e.f. 1st April, 1984 for the purpose of preventing the attempt of the assessee to get deduction on … according to the method of accounting regularly employed by him) only in computing the income referred to in Section 28 of that previous year in which such sum is actually paid him:...2. Chapter IV of the IT Act,

Mitsui and Company Ltd. Vs. Deputy Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Reported in : (1999)65TTJ(Del)1

Explanationn in section 9(ii) of the Income Tax Act, 1961, with effect from 1st April, 1979 by the Finance Act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services rendered … v. Rameshwar Das Ram Narain (supra). In this case the assessing officer imposed penalty of Rs. 15,000 under section 28(1)(c) of the 1922 Act for the assessment year 1951-52 on 1st May, 1964. Penalty order stated that the

Deputy Commissioner of Income Tax Vs. Shree Vallabh Glass Works Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

will be discussed in later part of this order.7. The provisions of Section 43B were inserted by the Finance Act, 1983. It may therefore, be relevant to look at the Memorandum explaining the provisions of the Finance Bill, 1983, … according to the method of accounting regularly employed by him) only in computing the income referred to in Section 28 of that previous year in which such sum is actually paid by him : Provided that nothing contained

Dy. Cit Vs. Shree Vallabh Glass Works Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2002)76TTJ(Ahd.)652

such loan, or The following clause (f) shall be inserted after clause (e) of section 43B by the Finance Act, 2001, with effect from 1-2-2002; (f) any sum payable by the assessee as an employer in lieu of … this order.The provisions of section 43B were inserted by the Finance Act, 1983.It may, therefore, be relevant to look at the Memorandum explaining the provisions … according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him : that nothing contained in