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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

Commissioner of Income Tax Vs. Khoday Industries Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 256(1), 263, 119, 119(1), 119(2), 404(4); Finance Act, 1984 - Sections 8(c); Finance Act, 1985; Finance Act, 1966 - Sections 2(7)

Reported in : [2006]285ITR523(KAR); [2006]285ITR523(Karn)

to have a look at the relevant provision as provided under Section 8(c), Finance Act, 1984, and the Finance Act, 1985, which reads as follows:8(c)-'industrial company' means a company which is mainly engaged in the business of generation or … the Board issued a Circular No. 103, dt. 17th Feb., 1973 which reads as under:Under Sub-section 7(d) of Section 2 of the Finance Act, 1966, an 'industrial company' means a company which is mainly engaged in the business

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

Commissioner of Income-tax Vs. Kerala Financial Corporation Ltd.

Court : Kerala

Subject : Direct Taxation

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

Reported in : [1993]202ITR186(Ker)

v. CIT [1988] 174 ITR 206 besides with reference to the Statement of Objects and Reasons to the Finance Act, 1985. So far as the first ground is concerned, viz., that the decision of the Cambay Electric Supply Industrial … 1985, was clarificatory and not amendatory. The Bench observed as follows (at page 828) :'The opening part of Section 2 which contains various definitions clearly provides that, unless the context otherwise requires, different words and expressions will have

V.M. Salgaocar and Bros. Pvt. Ltd. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India - Articles 133, 136 and 141; Taxation Laws (Amendment) Act, 1984; Finance Act, 1985; Income Tax Act, 1961 - Sections 2(24), 17(2), 36, 40A(2) and 256(2)

Reported in : [2000]243ITR383(SC); JT2000(4)SC473; 2000(3)SCALE240; (2000)5SCC373; [2000]2SCR1169; AIR2000SC1623

made by the 1984 Amendment by insertion of Sub-clause (vi) in Section 17(2) and its omission by the Finance Act, 1985. Section 2(24)(iv), which has been invoked in this case also used the expression 'the value of any benefit or

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) … of 1985. Clause (viia) of section 36(1) of the Act, it must be noted, was inserted by Act 21/1979 with effect from 1-4-1988 and first substituted by Act 32/1985 with effect from 1-4-1985 and later by Act

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) … of 1985. Clause (viia) of Section 36(1) of the Act, it must be noted, was inserted by Act 21/1979 with effect from 1.4.1988 and first substituted by Act 32/1985 with effect from 1.4.1985 and later by Act

Commissioner of Central Excise, Delhi-i Vs. Joint Secretary(Revisionar ...

Court : Delhi

Subject : Excise

1957, Additional Duties of Excise (Textiles and Textiles Articles) Act, 1978 and special excise duty collected under the Finance Act. CVD was not specifically stipulated and treated as the duty paid under the notification No. 41/2001. It is … be decided is whether the Countervailing Duty (CVD) (Additional duty) leviable under Section 3 of the Customs Tariff Act, 1985 equivalent to the duty of excise paid on the imported inputs/materials used in the manufacture of exported goods … sub- section (1) of the said section 14 or the tariff value of such article fixed under sub- section (2) of that section, as the case may be; and (ii) any duty of customs chargeable on that article

Commissioner of Central Excise and Service Tax Ltu, Delhi vs.nangalama ...

Court : Delhi

Subject : Service Tax

- "Value" for the purpose of sub- rules same meaning assigned to it under section 67 of the Finance Act, 1994 read with rules made thereunder or, as the case may be, the value determined under section 4 … goods‟ means goods specified in the 1st “(d) Schedule and the 2nd Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) as being subject to a duty of excise and includes salt; Explanation. - For the … the Act.8. The expression “excisable goods” is not defined in the Cenvat Credit Rules, but finds definition in Section 2(d) of the Act. By virtue of CEAC192017 Page 11 of 49 Rule 2(t) of the Cenvat Credit Rules,

Bharat Heavy Electricals Limited Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 17(1), 17(2), 192, 201, 201(1), 256(1) and 264; Taxation Laws (Amendment) Act, 1984; Finance Act, 1985

Reported in : [2001]252ITR316(AP)

effect of Section 17(2)(vi), which was inserted by the Taxation Laws (Amendment) Act, 1984, but repealed by the Finance Act, 1985, it was held that the interest subsidy is not a perquisite and that no legal obligation lies on