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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, … of business or profession, and lays down that in Sections 28 to 41 and in Section 43, unless the context otherwise requires, the definitions given, … 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 Vs. Eastern Tar (P) Ltd.

Court : Jharkhand

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32AB, 41(2), 80I, 80I(2), 80E, 80E(1), 80J, 143(3), 147, 148, 256(1) and 263; Finance Act, 1980; Finance (Amendment) Act, 1983; Income Tax Rules, 1962 - Rule 19A(2)

Reported in : 2008(56)BLJR679; (2008)218CTR(Jharkhand)506; [2008(3)JCR667(Jhr)]

this section has been elaborated by departmental circular No. 281 dated 22.9.1980. This section was further amended by Finance Act, 1983 with effect from 1st April, 1984. Under Section 80I of the Act, deduction is allowed to 20% and … arising as a result of sale of old machinery and buildings and worked out in accordance with Section 41(2), irrespective of its real character, has to be taken into account and included as income of the business.

Lakhanpal National Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (1988)24ITD214(Ahd.)

of the Act, as the same have been brought on the statute with effect from 1-4-1984 by the Finance Act, 1983. On the other hand, if the writ petition is decided in favour of the assessee, the revenue would … 1. In these appeals, the assessee is challenging the consolidated order of the Commissioner of Income-tax passed under Section 263 of the Income-tax Act, 1961 (the Act) wherein, she has directed the ITO to modify the assessment … estimated liability and actual liability, the excess can be taxed Under Section 41(1).8. Apart from the above submissions, the learned counsel for the assessee had

Commissioner of Income-tax Vs. Indian Smelting and Refining Co. Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 256(1); Central Excise Rules, 1944 - Rule 9(2); Income Tax Act - Sections 41(2)

Reported in : [1998]230ITR194(Bom)

any statutory provision to the contrary (viz., Section 43B of the Income-tax Act, 1961, as inserted by the Finance Act, 1983, with effect from April 1, 1984, which provides that certain liabilities can be deducted only on actual payment).' … being dropped by the excise authorities in December, 1982, the amount in question was added back under Section 41(2) of the Act in the subsequent year to the income of the assessee. Learned counsel submits that, in

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

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

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

Act shall be so construed as to be in conformity with the provisions of section 40 of the Finance Act, 1983. Section 2(e) of the Wealth-tax Act is one such provision which should be read only in conformity with the … decision rendered by the Calcutta Bench of the Tribunal in Asst. CWT v. Park Hotel (P.) Ltd. [1992] 41 ITD 501 wherein it was held that the provision of section 40 is a self-contained code, that the

The Commissioner of Income Tax-8, Mumbai and Others Vs. M/s. Sulzer In ...

Court : Mumbai

Subject : Direct Taxation

under Government orders. In paras 1 and 2 of this Circular, the Department refers to the introduction by Finance Act, 1983 w.e.f. 1st April, 1984 of section 43-B. Then, in para 3, it refers to several representations received from … cannot be termed as remission/cessation of liability. Consequently, no benefit has arisen to the Assessee in terms of section 41(1)(a) of the Income Tax Act. Accordingly, the opinion was rendered and the matters were sent back to the

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

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) … on the judgment of the Supreme Court in the case of Calcutta Discount Co. Ltd. v. ITO [1961] 41 ITR 191, especially the minority view of the then Justice M. Hidayatullah for the proposition contained at page

Lloyds Insulations (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)80ITD465(Delhi)

assessee is entitled to deduction from his income in respect of wealth-tax paid under Section 40 of the Finance Act, 1983.2. The assessee had claimed deduction of Rs. 97,700 and Rs. 1,07,731 for asst. yrs. 1991-92 and 1992-93, respectively, … also relied on the decision of the Tribunal in the case of CWT v.Park Hotel (P) Ltd (1992) 41 ITD 501 (Cal). It is also pointed out that assessee has included the copy of the order of

G.C. Kanungo and D.C. Routray Vs. State of Orissa

Court : Supreme Court of India

Subject : ConstitutionArbitration

Acts : Constitution of India - Article 32; Arbitration (Orissa Second Amendment) Act, 1992 - Sections 1; Arbitration Act, 1940 - Sections 8, 14, 17 and 41-A; Arbitration (Orissa Second Amendment) Act, 1991 - Sections 2, 3 and 42-A; Arbitration (Orissa Amendment) Act, 1982; Arbitration (Orissa Amendment) Act, 1984; Code of Civil Procedure (CPC) - Sections 47

Reported in : AIR1995SC1655; 1995(2)ARBLR277(SC); JT1995(4)SC589; 1995(3)SCALE658; (1995)5SCC96; [1995]Supp1SCR510

rank of a Superintending Engineer and a third member chosen from among the officers belonging to the Orissa Finance Service not below the Superior Administrative Cadre in Class-I. But, by its provisions the 1984 Amendment Act required … the following Sub-section shall be deemed to have been inserted with effect from the 26th day of March, 1983 and in force during the period between the said date and the 24th day of January, 1990 (both … State of Orissa (hereinafter referred to as the principal Act), in Section 41-A, after Sub-section (1), the following Sub-section shall be deemed to have been