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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 … premises paid in respect of insurance against risk of damage destruction of the premises.4. In the explanation to Section 30, it has been indicated that the amounts paid on account of the items indicated above shall not include

Greaves Cotton and Co. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 30 to 36, 37, 37(1), 37(4), 37(5), 80VV and 256(1); Finance Act, 1983

Reported in : (2006)201CTR(Bom)544; [2005]279ITR42(Bom)

as follows (headnote):'Sub-section (5) of Section 37 of the Income-tax Act, 1961, which has been inserted by the Finance Act, 1983, with retrospective effect from April 1, 1979, has clarified that accommodation maintained by an assessee to provide lodging … under Section 37(4).10. Section 37(1) reads as follows:'Any expenditure (not being expenditure of the nature described in Sections 30 to 36 and Section 80VV and not being in the nature of capital expenditure or personal expenses of

Khivraj Motors (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Land Acquisition

Reported in : (1994)50ITD576(Mad.)

(P.) Ltd. 29 ITD 29 was distinguishable on facts. (iii) The 1988 amendment to Section 40(3) of the Finance Act, 1983 is not retroactive, but prospective in operation with effect from 1-4-1989. Therefore, the said amendment cannot help the … :______________________________________________________________________Wealth-tax Valuation Value returned Value determinedasst. year date by the assessee by the Assessing Officer______________________________________________________________________ Rs. Rs.______________________________________________________________________ 1985-86 30-6-1984 28,54,000 * 2,27,73,662 1986-87 30-6-1985 19,47,775 * 2,79,07,375 198,7-88 30-6-1986 13,38,575 * 2,81,79,038 1988-89 30-6-1987 @ 2,07,70,256______________________________________________________________________ Notes

Pallonji Shapoorji and Co. (P) Vs. Deputy Commissioner of Wealth Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)102ITD101(Mum.)

Nawab Sir Mir Osman All Khan (supra).16. Learned Counsel further submitted, under Sub-section (5)(b) of Section 40 of Finance Act, 1983, Section 4(7) of the WT Act would not be in conformity with the charging provision, i.e., Sub-section (2) of … the society, subject to the conditions set out by the society. 34. Subject to the provisions of the Section 30 of MCS Act, 1960 bye-law No. 17A or 19, on the death of a member, the society shall

Balsara Hygiene Products Ltd. and Another Vs. D.S. Saxena and Another

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 3, 30, 31, 32, 33, 34, 35, 36, 37, 37(3) and (3)A and 80B; Constitution of India - Articles 19 and 226; Finance Act, 1983 - Sections 17

Reported in : 1994(2)BomCR164; [1994]208ITR623(Bom)

declaration that the amendment made to section 37 of the Income-tax Act, 1961, by section 17(b) of the Finance Act, 1983, by inserting sub-sections (3A) to (3D) is bad in law, illegal, invalid and violative of the petitioners' fundamental … lakhs in the year 1981 to Rs. 138 lakhs in the year 1983. For the year ending June 30, 1983, the company incurred expenditure on advertisement, publicity and sales promotion totalling Rs. 197 lakhs and out of

Commissioner of Income-tax Vs. Appollo Tyres Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Companies Act, 1956 - Sections 205, 205(1), 205(2), 348, 349 and 350; Income Tax Act, 1961 - Sections 28, 32AB, 32AB(1), 32AB(2), 32AB(3), 32AB(5), 43, 72, 73, 115J, 115JA and 115J(1); Unit Trust of India Act, 1963; Finance (No. 2) Act, 1996

Reported in : [1999]237ITR706(Ker)

every person who is subjected to be charged under Section 4 of the Act. The Legislature, by the Finance Act, 1983, introduced a new chapter--Chapter VI-B--containing only one provision--Section 80WA--imposing restriction on certain deductions in the case of companies, … cases arise from a common order of the Income-tax Appellate Tribunal, Cochin Bench, in I. T. A. No. 301/Coch. of 1991. The assessment year concerned is 1988-89. The relevant accounting period ended on October 31, 1987. The

Delhi Cloth and General Mills Co. Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 37, 37(2A) and (2B) and 80J; Income Tax Rules, 1962 - Rule 19A

Reported in : 1994IAD(Delhi)749; (1994)118CTR(Del)109; 1994(28)DRJ532; [1994]208ITR785(Delhi)

He further submitted that with the insertion of Explanationn 2 in section 37 of the Act by the Finance Act, 1983, all doubts regarding the scope of the expression 'entertainment expenditure' stand removed and expenditure on provision of hospitality … the Revenue's reference, the facts found by the Tribunal are that during the previous years ended on June 30, 1970, the assessed, a public limited company held an inaugural function for its fertilizer plant at Kota (Rajasthan),

Commissioner of Income-tax, New Delhi Vs. Eli Lilly and Company (India ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 4, 4(1), 4(2), 5, 5(2), 9, 9(1), 14, 15, 30 to 38, 40, 90, 90A, 115A, 115B, 115BB, 115BBB, 115E, 132(5), 133A, 159A, 160, 160(1), 161, 162, 163, 164, 164A, 167B, 172(4), 174(2), 175, 176(2), 190, 191, 192, 192(1), 192(1A), 192(2), 193, 194, 194A, 194B, 194BB, 194D, 200, 200(1), 200(3), 201, 201(1), 201(1A), 203, 203A, 204, 206, 221, 271(1), 271A, 271AA, 271B, 271BA, 271BB, 271C, 271C, 271CA, 271E, 271F, 271FA, 271FB, 271G, 272A, 272AA(1), 272BB(1), 272BB(1A), 272BBB(1), 273(2), 273B and 276B; Companies Act, 1956; Finance Act, 1983; Finance Act, 1999; Income Tax Act, 1922 - Sections 4 and 42(1); Income Tax Rules, 1962 - Rules 36A, 37 and 114A; Constitution of India - Article 245

Reported in : 2009BusLR418(SC); (2009)223CTR(SC)20; [2009]312ITR225(SC); JT2009(5)SC78; 2009(4)SCALE384; [2009]178TAXMAN505(SC); 2009(4)LC1742(SC); 2009AIRSCW3104

services rendered in India. According to the learned Counsel, the insertion with retrospective effect from 1.4.1979 by the Finance Act, 1983, however, was not all inclusive. According to the learned Counsel, despite the said Amendment, amounts paid to foreign … earned in India.Amounts not Deductible.-Section 40Notwithstanding anything to the contrary in Sections 30 to 38, the following amounts shall not be deducted in computing the … manufacturing and selling pharmaceutical products during the financial years 1992-93 to 1999-00. In the course of survey under Section 133A of the Income-tax Act, 1961 ('1961 Act' for short), the AO noticed that the foreign company had

Commissioner of Income-tax Vs. A.V. Thomas and Co. Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 30 to 36, 37(1), 37(3A), 37(3B), 43(3), 80AB and 80HHC

Reported in : [1997]225ITR29(Ker)

as 'sale proceeds of any goods, etc., exported out of India'. Apparently Section 80HHC was introduced by the Finance Act, 1983 to encourage export. We are therefore in full agreement with the view taken by the Tribunal that the … right in law in holding 'repairs and insurance are governed by Section 31 and taxes are regulated under Section 30 such expenditure cannot be construed as running and maintenance expenditure of motor cars described under Section 37(3A) of

Asstt. Commissioner of Vs. Allied Motors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1993)45ITD566(Delhi)

machinery was a factory which was used by the assessee on 30-6-1983 in terms of Section 40(3)(vi) of Finance Act, 1983, even though the factory building was completed subsequently and factory went into production on 30-12-1983.2. The respondent in