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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, … impugned order of Tribunal by inviting attention to definition of SWritten Down Value, as appearing in Sub-section(6) of Section 43 of the Act. According to him, Clause (b) of Sub-section(6) states that Written Down Value means the actual

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 … date of filing of Return of Income ignoring the fact that said amendment to the provisions of Section 43B of the I.T. Act was made with effect from 1st April, 2004 i.e. from Assessment Year 2004-05 and

Cit Vs. Sabari Enterprises

Court : Karnataka

Subject : Direct Taxation

Reported in : [2008]298ITR141(KAR); [2008]298ITR141(Karn)

giving statutory deductions of payment of tax under the provisions of the Act, Section 43B(b) was inserted by Finance Act, 1983 which came into force with effect from 1-4-1984. Therefore, again the provision of Section 43B(b) clearly provides that … the stipulated period as contemplated under the mandatory provisions of Section 36(1)(va) read with Section 2(24)(x) and Section 43B of the Act as the same was paid by the assessee on or before the due date for

C.i.T. Jodhpur Vs. Achaldas Dhanraj and anr.

Court : Rajasthan

Subject : Direct Taxation

Reported in : 1995(2)WLN208

computing the of the previous year in which the sum is actually paid by himSection 43B.was inserted by Finance Act, 1983 and is applicable w.e.f. April 1, 1984 i.e. assessment year 1984-85. While interpreting the provisions of Section 43-B,

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2007)107ITD343(Chd.)

trace the legislative intent and history behind the enactment of Section 43B. Section 43B was inserted by the Finance Act, 1983 w.e.f. 1st April, 1984 applicable for and from asst. yr.1984-85. The scope and effect of the originally inserted … non obstante clause, the mandate of cash accounting provided under Section 43B prevails over any other consideration. 6. Section 43(2) defines the term "paid". It means actually paid or incurred according to the method of accounting upon 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

Hmt Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1996)59ITD76(Bang.)

value is not permissible. The appellant claims that the statute was introduced with effect from 1984-85 by the Finance Act, 1983 which came into effect from 1-4-1984 which meant that initial depreciation admissible for assessment years commencing from 1984-85 … Karnataka High Court engaged itself in the consideration of allowability of the amount to be set apart under Section 15(1) of the Payment of Bonus Act, 1965.It was held by the High Court that the amount so … adopted by it, it credited in its accounts the sum of Rs. 43,692 representing the full sale price of lands. At the same time, it

H.P. Tourism Development Corporation Ltd. Vs. Commissioner of Income T ...

Court : Himachal Pradesh

Subject : Direct Taxation

the Department for the following reasons: firstly, as stated above, Section 43-B [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

Kwality Milk Foods Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (2006)100ITD199(Chennai)

in some cases even undisputed liabilities were also not paid on certain grounds.6. To curb this practice, the Finance Act, 1983 has inserted Section 43B to provide that deduction for any sum payable by the assessee by way of … "the Tribunal") has constituted this Special Bench to consider the following question: Whether amendment in proviso to Section 43B by Finance Act, 2003 could be construed to be curative, as such retrospective in nature? 2. We have

Commissioner of Income-tax Vs. Asian Techs Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32 and 32(1)

Reported in : [1999]240ITR396(Ker)

was granted for the assessment year 1984-85, in the light of the amendment to Section 32(1)(iv) by the Finance Act, 1983. Reliance was placed by the Assessing Officer on the Central Board of Direct Taxes Circular No. 372 (see … 1, 1984, the underlined portion in Clause (iv) was deleted.The term 'written down value' is defined under Section 43(6). The relevant portion reads as follows :'(6) 'written down value' means-- (a) in the case of assets acquired