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Parakh Foods Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1998)64ITD396(Pune.)

as the Budget Speech of Finance Minister in the Parliament and Explanatory Notes on the Finance Bill and Finance Act, 1985. His first contention was that the intention of the Legislature is to assess only undisclosed income as is … respect of each addition. Both of them have also argued at length on the scope of provisions of Chapter XIV-B. First of all, we will dispose of the legal contentions raised by the parties with reference to … letter. The assessee was directed to reply on the next date by 4.00 p.m. The assessee vide its letter dated 23-7-1996 replied to the Assessing

Andhra Pradesh State Financial Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (1986)18ITD515(Hyd.)

financial corporations and he drew our attention in particular to the latest amendment to Section 36(1)(viii) by the Finance Act, 1985, wherein it has been clarified that the deduction is to be made without making any deduction under the … income' is oldest in conception and definitely older than the recent concept of gross total income found in Chapter VI-A. It has been well understood by all concerned and common sense meaning should not be substituted. (d) … special reserve in its accounts and claimed deduction under Section 36(i)(viii) at 40 per cent, viz., 40/100 of its total income. The IAC, however, allowed

South Indian Bank Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1985; Income Tax Act, 1961 - Sections 36, 36(1) and 36(2)

Reported in : (2003)183CTR(Ker)21; [2003]262ITR579(Ker)

36(1) and Clause (v) of Section 36(2) were inserted simultaneously with effect from April 1, 1985, by the Finance Act, 1985. Clause (viia) of Section 36(1) of the Act, it must be noted, was inserted by Act 21 of … not exceeding ten per cent, of the total income (computed before making any deduction under this clause and Chapter VI-A) or an amount not exceeding two per cent, of the aggregate average advances made by the rural … branches of such bank, computed in the prescribed manner, whichever is higher.' 4. Clause (viia) had again undergone a change, by the Income-tax (Amendment) Act,

South Indian Bank Ltd. Vs. Cit

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]130TAXMAN749(Ker)

refer to the provisions of clauses (vii) and (viia) as they stood prior to their amendment by the Finance Act, 1985 as also the said provisions as it stood after the amendment of 1985. Section 36(1) (vii) and (viia) … not exceeding ten per cent of the total income computed before making any deduction under this clause and Chapter VIA and an amount not exceeding two per cent of the aggregate average advances made by the rural … a further amendment to the main part of clause (vii) by Act 4/1988 with effect from 1-4-1989. Clause (vii) main part reads as follows :'Subject

Dhanalakshmi Bank Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : 2003(3)KLT177

refer to the provisions of Clause (vii) and (viia) as they stood prior to their amendment by the Finance Act, 1985 as also the said provisions as it stood after the amendment of 1985. Section 36(1) (vii) and (viia) … not exceeding ten per cent of the total income computed before making any deduction under this clause and Chapter VIA or an amount not exceeding two per cent of the aggregate average advances made by the rural … a further amendment to the main part of Clause (vii) by Act 4/1988 w.e.f. 1.4.1989. Clause (vii) main part reads as follows: 'Subject to the

Pesticides Mfrs. and Formulators Ascn. of India Vs. Union of India (Uo ...

Court : Delhi

Subject : Excise

Acts : Societies Registration Act; Central Excise Act, 1944 - Sections 37 and 37B; Central Excise Tariff Act, 1985; Finance Act, 1996; Finance Act, 1997; Insecticides Act - Sections 3(1); Indian Tariff Act; Insecticides Rules, 1971

Reported in : 2000(115)ELT324(Del)

Chemical and other ingredients to pesticidial Chemicals in a highly concentrated form would amount to manufacture.10. By the Finance Act, 1996 the heading 38.08 was amended and chapter Note 2 to Chapter 38 was introduced. The chapter Note … Chapter 38.7. Technical Grade insecticides and pesticides were covered under the heading 38.08 of the Central Excise Tariff Act, 1985 with effect from March 1,1986. There was no dispute that the Technical Grade pesticides, insecticides and the subsequent

Dr Baliram Waman Hiray Vs. Justice B. LentIn and ors.

Court : Supreme Court of India

Subject : Criminal

Acts : Commissions of Inquiry Act, 1952 - Sections 3, 3(1), 4, 5(4), 5(5) and 6; Code of Criminal Procedure (CrPC) - Sections 195, 195(1), 195(2), 195(3) and 346; Constitution of India - Article 141; Indian Penal Code (IPC) - Sections 193 and 228; Workmen's Compensation Act - Sections 23; Payment of Wages Act - Sections 18; Indian Railways Act - Sections 40

Reported in : AIR1988SC2267; (1988)90BOMLR434; 1988(3)Crimes655(SC); [1989]176ITR1(SC); JT1988(4)SC265; 1988(2)SCALE688; (1988)4SCC419; [1988]Supp2SCR942; [1989]72STC384(SC)

the course of his submissions, he has brought to our notice the words in parenthesis added by the Finance Act, 1985 introducing the following change in Section 136 of the Income-tax Act, 1961 w.e.f. April 1,1974 from which the … deemed to be a Civil Court for the purposes of Section 195 but not for the purposes of Chapter XXVI of the CrPC, 1973', shall be inserted and shall be deemed to have been inserted at the … points out that Parliament has brought about the change to implement the 41st Report of the Law Commission and relies on paras 15.90, 15.93, 15.94

Commissioner of Income-tax Vs. Sharda Gum and Chemicals

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2007)209CTR(Raj)143; [2007]288ITR116(Raj)

of export turnover'.21. The case of deduction under Section 80HHC underwent change when it was substituted by the Finance Act, 1985, with effect from April 1, 1986. The caption of the section was amended as it stands today, i.e., … gains of business as per the provisions of the Income-tax Act, 1961, before considering claim of deduction under Chapter VI-A.11. The Revenue was aggrieved with allowing the assessee's claim in respect of receipts from the sale of … 'Profits and gains of business or profession' under Part D of Chapter IV. The Assessing Officer seriously erred in excluding the profits or other income

Smith (inspector of Taxes) Vs. Schofield.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1994]209ITR572(Cal)

by section 86 and 87 of the Finance Act 1982. These sections were very substantially amended by the Finance Act 1985. I set them out in the amended form in which they were in force at the time of … any disposal of an asset on or after 6 April 1982. These results follow from the provisions of Chapter II of and Schedule 5 to the Act of 1979 as amended Chapter II is headed 'Computation', and … of capital gains were contained in Part I of Schedule 6. Paragraph 4 allowed the person disposing of the asset to deduct three items from

Raymond Limited, Under Companies Act, 1956 and Mr. Vasant Naag of Navi ...

Court : Mumbai

Subject : Excise

Acts : Central Excise Tariff Act, 1985; Central Excise Act, 1944 - Sections 5A(1); Additional Duties of Excise (Goods of Special Importance) Act, 1957 - Sections 3; Cenvat Credit Rules

Reported in : 2009(5)BomCR174; 2009(111)BomLR2444; 2009(167)LC7(Bombay); 2009(240)ELT180(Bom)

Notification No. 30/2004 read with the new tax regime for the Textile sector announced by the Hon ble Finance Minister on 8/7/2004 clearly shows that the exemption is not restricted to the duty paid inputs falling under … falling under Tariff Heading 55.06 from duty paid inputs falling under Heading 55.01 of the Central Excise Tariff Act, 1985 ('CET' for short) is entitled to the exemption under Notification No. 30/2004 dated 9/7/2004 is the basic question … top process'.6. Excise duty payable on various textile goods are enumerated in Chapters 50 to 63 of the CET. Chapter 55 of the CET with … of fabrics in the country. Besides, the so-called Cenvat chain had nearly 40 exemptions at different stages. In fact, two exemptions were added after the