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Commissioner of Income-tax Vs. Bank of Rajasthan Ltd.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax (Amendment) Act, 1986 - Sections 36(1); Income Tax Act, 1961 - Sections 36(1) and (2)

Reported in : [2002]255ITR599(Raj)

the assessment year 1987-88.2. This court admitted the appeal on the following question of law :'Whether after the Finance Act, 1985, amending the provisions of Section 36(l)(vii) and Section 36(2) with effect from April 1,1985, inserting a proviso to … Briefly stated the facts of the case are that the respondent-assessee, the Bank of Rajasthan Ltd., is a scheduled bank governed by the provisions of the Banking Regulation Act, 1949. The Assessing Officer assessed the income of

Cit Vs. the Bank of Rajasthan Ltd.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2002)174CTR(Raj)400

the assessment year 1987-88.2. This court admitted the appeal on the following question of law :'Whether after the Finance Act, 1985, amending the provisions of section 36(1)(viii) and section 36(2) with effect from 1-4-1985, inserting proviso to section 36(i)(vii) … stated that facts of the case are that the respondent- assessee the Bank of Rajasthan Ltd. is a scheduled bank governed by the provisions of Banking Regulation Act, 1949. The assessing officer assessed the income of the

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 … by the Nedungadi Bank Ltd. in respect of the assessment years 1985-86 to 1991-92. The appellants are all scheduled banks which are assessees under the Income-tax Act, 1961 (for short 'the Act').2. The sole question arising for

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) … by the Nedungadi Bank Ltd. in respect of the assessment years 1985-86 to 1991-92. The appellants are all Scheduled Banks which are assessee under the Income Tax Act, 1961 (hereinafter referred to as the Act).2. The sole

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) … by the Nedungadi Bank Ltd. in respect of the assessment years 1985-86 to 1991-92. The appellants are all Scheduled Banks which are assessees under the Income Tax Act, 1961 (for short, the Act).2. The sole question arising

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 … the taxpayer's liability to tax was to be computed by applying the time-apportionment provisions of paragraph 11 of Schedule 5 to the Capital Gains Tax Act, 1979, to the gain accruing between her acquisition and disposal of

Tamil Nadu Kalyana Mandapmam Am Assn. Vs. Union of India (Uoi) and ors ...

Court : Supreme Court of India

Subject : Service Tax

Acts : Finance Act, 1994 - Sections 17, 65, 65(19), 65(20), 65(22), 65(23), 65(41), 65(48), 66, 66(1), 67, 68, 85(2), 88 and 93; Service Tax Rules, 1994 - Rules 2(1) and 6(3); Finance Act, 1997 - Sections 84; Transfer of Property Act, 1882 - Sections 3; Finance Act, 1998; Finance (No.2) Act, 1996 - Sections 85; Constitution of India - Articles 14, 19, 19(1), 246, 246(1), 246(3) and 366(29A); Constitution of India (46th Amendment) Act - Article 366(29A); Central Excise Act, 1944 - Sections 11B; Sale of Goods Act, 1930

Reported in : AIR2004SC3757; (2004)4CompLJ108(SC); 2004(3)CTC63; (2004)188CTR(SC)297; 2004(93)ECC353; 2004(167)ELT3(SC); [2004]267ITR9(SC); [2004(4)JCR66(SC)]; JT2004(4)SC568; (2004)3MLJ; (2004) 5 SCC 632

the Madras High Court dismissed the writ petition of the appellant-Association and held Sections 66, 67(o) of the Finance Act, 1994 and Rule 2(1)(d)(ix) of the Service Tax Rules, 1994 and other provisions related to Kalyana Mandapmam ams … the residuary entry i.e. Entry 97 of List I of the Seventh Schedule of the Constitution of India. The service tax provisions have the following … of his contention.1. Khandelwal Metal and Engineering Works and Anr. vs . Union of India and Ors. : 1985(20)ELT222(SC) .2. Ujagar Prints and Ors. (II) vs . Union of India and Ors. etc. : [1989]179ITR317a(SC) .3. S.P

Badri Prasad Choudhry Vs. Assistant Collector of Customs

Court : Mumbai

Subject : Customs

Reported in : 1998(97)ELT255(Bom)

it is exempted from auxiliary duty of Customs leviable thereon under sub-section (1) of Section 43 of the Finance Act, 1985. Attempt made by the Counsel for the petitioner that the Notification only shows the exemption will be available … cannot sustain his contention because of the Notification is clearly says exemption will be available specifically in the Schedule to the Notification only in case the Assistant Collector of Customs is satisfied that they are the produce

Deputy Commissioner of Income-tax and anr. Vs. Karnataka Bank Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 260A; Finance Act, 1985 - Sections 28, 36(1) and 36(2); Income Tax (Amendment) Act, 1986

Reported in : [2009]316ITR345(KAR); [2009]316ITR345(Karn); (2008)218CTR(Kar)273; 2008AIRSCW1287; 2008(2)SCC475.

No. 258, dated June 14, 1979, to the assessment year 1993-94 though Section 36(2) stood amended by the Finance Act, 1985, with effect from April 1, 1985?3. For the sake of convenience, facts appearing in I.T.A. No. 480 of … 2003 are being taken into consideration.4. The facts shorn of unnecessary details are mentioned hereinbelow:The respondent-assessee being a scheduled bank filed return of income for the assessment years 1993-94 on December 30, 1993, claiming a net loss

income Tax Officer Vs. V. S. V. Trust.

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (1993)47TTJ(Coch.)304

Tribunal.5. We have heard rival submissions. Shri Abraham, the learned Senior Departmental Representative, contended that as per First Schedule Part I of income-tax and sur-tax on income-tax as provided in the Finance Act, 1985, the highest rate … 55% on the income of the assessee because it represented the highest rate of tax prescribed in the Finance Act, 1985.4. Being aggrieved, the assessee took up the matter in appeal before the CIT(A), who held as follows :