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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

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

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)

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)

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 … whether, on the facts and in the circumstances of the case, the assessee is entitled to deduction under Section 36(1)(viii) of the Income-tax Act, 1961, on the total income before making any deduction under Section 36(1)(viii) ?2. This

Commissioner of Income-tax Vs. West Bengal Industrial Development Corp ...

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 36(1); ;Finance Act, 1985 - Section 10

Reported in : [1993]203ITR422(Cal)

(from that year) Chapter VI-A (at present comprising Sections 80A to 80W). 7. By the amendment of the Finance Act, 1985, with effect from April 1, 1985, it has been provided that the total income shall be computed before … facts and in the circumstances of the case, the Tribunal was correct in holding that the deduction under Section 36(1)(viii) of the Income-tax Act, 1961, should be allowed on a given percentage of the total income as reduced

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)

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

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 … a general proposition is accepted, the disallowance under Section 40A(5) would be on par with the disallowance under Section 36(1)(iii) which provision provides for deduction to be allowed in respect of the amount of interest on capital borrowed

Commissioner of Income Tax Vs. City Union Bank Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1), 36(2) and 145(1); Finance Act, 1985

Reported in : (2007)213CTR(Mad)113; [2007]291ITR144(Mad)

Section 36(2) of the Income-tax Act, 1961, were inserted simultaneously with effect from April 1, 1985, by the Finance Act, 1985. The scope of the proviso to clause (vii) of Section 36(1) has to be ascertained from a cumulative