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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

Aeroplane Shoe Factory Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1989)28ITD478(Delhi)

further pointed out that a similar amendment by which Explanation 2 was inserted to Section 37(2A) by the Finance Act, 1983 had been expressly made retrospective from 1-4-1976 and, therefore, since in the amendment to Section 263(1) as mentioned

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 … business(computed before making anyallowance under Section 33 [orSection 33A] or in respect ofentertainment expenditure)ii) On the next Rs. 40,00,000/- At the rate of 3 1/2 per centof the profits and gains of thebusiness (computed in themanner aforesaid)iii)

Union of India (Uoi) and ors. Vs. MartIn Lottery Agencies Ltd.

Court : Supreme Court of India

Subject : Service Tax

Acts : Finance Act, 1994 - Sections 9(1), 65, 65(19), 65(50), 65(105), 66, 68 and 271; Finance Act, 2003 - Sections 65 and 65A; Finance Act, 2008; Finance Act, 1983; Lottery (Regulation) Act, 1998 - Sections 4; Sale of Goods Act, 1930 - Sections 2 and 2(7); Central Excise Act, 1944 - Sections 2; Income-tax Act - Sections 22; Constitution of India - Articles 19, 162, 245 and 246, 268A and 298

Reported in : (2009)223CTR(SC)321; JT2009(11)SC151; 2009(7)SCALE341(1); (2009)12SCC209; [2009]17STJ237(SC); 2009[14]STR593; [2009]20STT203; 2009(6)LC2739(SC); (2009)24VST1(SC); 2009AIRSCW5301; [2009] 7 SCR 946

of Income, Tax, Dehradun and Anr. : [2005]279ITR310(SC) . The explanation which was in question was added by Finance Act, 1983 with effect from 1979 was to the following effect:Explanation.--For the removal of doubts, it is hereby declared that … repeat if, the writ petitioner is a distributor or a selling agent, then there is no problem, notwithstanding Section 4(c) of the 1998 Act, of the writ petitioner reselling the lottery tickets in the open market even upto

Commissioner of Wealth-tax Vs. N.M.R. Krishnamoorthy and Sons Pvt. Ltd ...

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1983 - Sections 40 and 40(4); Wealth Tax Act, 1957; Wealth Tax Rules, 1957 - Rule 1BB

Reported in : [2000]241ITR439(Mad)

per cent. and hence Rule 1BB could not be applied to value it and Section 40(4) of the Finance Act, 1983, excluded application of Section 7(1) and Rule 1BB made thereunder and accordingly assessed the property at Rs. 19,48,000

Commissioner of Income Tax Vs. Hemla Embroidery Mills (P) Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2007)212CTR(P& H)497; [2009]311ITR412(P& H)

wealth of the assessee. The AO also came to the conclusion that as per Section 40(3)(iv) of the Finance Act, 1983, building or land owned by an assessee is to be included in the net wealth unless the building … to the net wealth of the assessee. The AO also came to the conclusion that as per Section 40(3)(iv) of the Finance Act, 1983, building or land owned by an assessee is to be included in the

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, … 6,74,500/-, which was granted as an initial depreciation in Assessment Year 1982-83. 4. Revenue carried the matter in appeal before the Tribunal. However, the Tribunal … 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,

Assistant Commissioner of Vs. Canara Food Processors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)45ITD500(Pune.)

assessments. Even after re-opening, the assets brought to tax would have been exempt under Section 40 of the Finance Act, 1983. Revenue is in appeal on the following common grounds, viz. : (1) The order of the CWT (Appeals) … to re-open the assessments. Even after re-opening, the assets brought to tax would have been exempt under Section 40 of the Finance Act, 1983. Revenue is in appeal on the following common grounds, viz. : (1) The

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 … tourist taxi cars 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

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 … company purchased following properties for consideration as mentioned against each of them from Shri Gaj Singh :Rs.Jawahar Khana 48,000Saloon House 1,57,000Large House, Mt. Abu 46,000Land near Stadium, Jodhpur 77,000Land to the East & West of Circuit House