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Raasi Cement Ltd. Vs. Commissioner of Income-tax (No. 1)

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1) and 40A(9); Finance Act, 1984; Societies Registration Act, 1860

Reported in : (2005)198CTR(AP)179; [2005]275ITR579(AP)

between the assessee and its executives.4. Sub-section (9) of Section 40A of the Act was inserted by the Finance Act, 1984, with retrospective effect from April 1, 1980. The said provision reads as under :'(9) No deduction shall be … purposes and to the extent provided by or under Clause (iv) or Clause (v) of Sub-section (1) of Section 36, or, as required by or under any other law for the time being in force.'5. By the said

Maruti Udyog Ltd. Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : [2005]92ITD120(Delhi)

The legislature made retrospective amendment to section 28 of the Act by inserting clauses (iiia) to (iiic) by Finance Act, 1990 with effect from 1-4-1962. Thus, income by way of duty drawback became taxable income by virtue of … & Plastics India Ltd. (supra), the facts as noted by the court were as under:'The assessment year is 1984-85. The assessed is engaged in the manufacture of polyvinyl chloride, rigid PVC pipes and fittings and other items. … at ; (ii) that the assessed is entitled to deduction under section 36(1)(iii) and section 14A does not take away such right of assessed; (iii)

Cit Vs. Sabari Enterprises

Court : Karnataka

Subject : Direct Taxation

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

was correct in holding that the amendment to Section 43B of the Act which had been introduced by Finance Act, 2003, w.e.f 1-4-2004 should be read retrospectively and should be understood as if Section 43B would not be … allowable deduction even though it is made beyond 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

Kwality Milk Foods Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (2006)100ITD199(Chennai)

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 heard the rival … respect of that liability, be allowed a deduction in the assessment year 1984-85, or any subsequent year on the ground that he has actually made … furnishing the return under Section 139(1) of the Act, albeit payment was made beyond due date prescribed in Section 36(1)(vd) of the Act for making the contribution to the employee's account in the relevant fund under the law.

Checkmate Services P Ltd Vs. Commissioner Of Income Tax-i

Court : Supreme Court of India

Subject : Land Acquisition

Income Tax-I v Checkmate Services P. Ltd., Tax Appeal No.680 of 2014, dated 14.10.2014. 4 Inserted by the Finance Act, 1987 (11 of 1987), w.e.f. 01.04.1988. 4 are not in the nature of annual contributions of fixed amounts … the previous year?. That was a case which related to Assessment Year 1984-1985. The relevant accounting period ended on 30-6-1983. The Income Tax Officer disallowed … appeal, for convenience. In all these appeals, the common question involved is with respect to the interpretation of Section 36(1)(va) and Section 43B of the Income Tax Act, 1961 (hereinafter, “IT Act”), and whether the appellant assessees are

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

Court : Rajasthan

Subject : Direct Taxation

Reported in : 1995(2)WLN208

of the learned Counsel for the Revenue is that the amendment in Section 43B was made by the Finance Act, 1988 and was effective from 1.4.1988. The Tribunal has erred in giving the retrospectivity to the said amendment … and are applicable to assessment year under consideration i.e. the assessment year 1984-85.4. The facts of M/s. Sanklecha Brothers are that the assessment in this … on or before the due date as defined in the Explanation below Clause (va) of Sub-section (1) of Section 36.Explanation: For the removal of doubts, it is hereby declared that where a deduction in respect of any sum

industrial Credit and Investment Corpn. of India Ltd. Vs. Inspecting A ...

Court : Mumbai

Subject : Direct Taxation

Reported in : [1990]32ITD315(Mum)

the change in the system of accounting of interest from mercantile to cash basis by the concerned State Finance Corporation is legal, valid and bona fide, the Income-tax Department may accept the cash system of accounting of … assessed to tax in view of Circular F. No. 201/21/84, dated September, 1984. Reliance was also placed on the later Circular of CBDT in No. … sub-section excludes the provisions of sections 30 to 36. The repair and insurance expenses on motor car … the interest as its income by crediting to the profit & loss account only when the interest is actually received. On the basis of some proforma records kept by the assessee, a statement of interest deemed to … should be computed on the basis of that system as provided in section 145 of the Income-tax Act, 1961. He further submitted that the system

Aspinwall and Co. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30 to 39, 40A, 40A(1), 40A(7), 40A(9), 43A and 43B; Finance Act, 1984 - Sections 40A; Societies Registration Act, 1860; Kerala Coir Workers' Welfare Fund Act; Income Tax Rules - Rules 75, 87 and 88

Reported in : (2007)207CTR(Ker)475

the assessment years in question in view of the insertion of Sub-section (9) to Section 40A of the Finance Act, 1984 with retrospective effect from 1st April, 1980.4. We have therefore, to examine whether the insertion of Sub-section (9) … for consideration before this Court. Question raised was whether the assessee was qualified and entitled to deduction under Section 36(1)(iv) of the IT Act for the contribution made to the executive staff provident fund. This Court in CIT

Commissioner of Income Tax Vs. Madan Lal and Bros.

Court : Punjab and Haryana

Subject : Sales Tax

Acts : Income Tax Act, 1961 - Sections 36(1), 43B, 139(1) and 143(3); Finance Act, 1987; Sales Tax Act; Finance Act, 1988; Finance Act, 1989

Reported in : (2005)195CTR(P& H)92; [2005]276ITR571(P& H)

tax or duty under any law for the time being is force,' The amendment brought in by the Finance Act, 1988, including the expressions 'cess' was w.e.f. 1st April, 1989. As held by Their Lordships of Andhra Pradesh … assessee to comply with Section 43B as it stood in the year 1984, and to make it workable, amendments in Section 43B were introduced by … on or before the due date as defined in the Explanation below Clause (va) of Sub-section (1) of Section 36. The AO is, therefore, directed to find out whether the payment has been made within the period as

Mechfield Industries Vs. Commissioner of Taxes and ors.

Court : Guwahati

Subject : Sales Tax

Acts : Assam Sales Tax Act, 1947; Assam Finance (Sales Tax) Act, 1956 - Sections 9(3), 11 and 12; Assam General Sales Tax Act, 1993 - Sections 10, 36, 40 and 41; Assam Sales Tax Rules, 1947 - Rules 3(1), 36, 61 and 62; Constitution of India - Article 226

9(3) of the Assam Finance (Sales Tax) Act, 1956 on March 15, 1984. Thereafter, the Deputy Commissioner of Taxes, Guwahati, Zone-C, vide letter dated December … before us M/s. Mechfield Industries was a registered dealer under the Assam Sales Tax Act, 1947 and Assam Finance (Sales Tax) Act, 1956. For the periods ending September 30, 1981, March 31, 1982, September 30, 1982, March … petitioner for the following effect:No. GE/Zone-C/569/97-98/1,001 dated December 1, 1997To M/s. Mechfield Industries, Paltanbazar, Guwahati. Sub: Notice Under Section 36 of the Assam General Sales Tax Act, 1993 for the periods ending September 30, 1981, March 31, 1982,