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Punj Sons (P) Ltd. Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : (2002)74TTJ(Del)596

disallowance of the claim of deduction amounting to Rs. 1,55,820 paid in pursuance to section 40 of the Finance Act, 1981. The assessing officer disallowed the claim on the ground that such deduction was prohibited by section 40(a)(iia)

Commissioner of Wealth Tax Vs. Varadharaja theatres (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Reported in : (2000)162CTR(Mad)276

that the cinema building owned by the assessee is entitled to exemption from wealth-tax under section 40(3)(vi) of Finance Act, 1983, as it stood during the relevant period, namely, the years 1984-85, 1985-86, 1986-87, despite the fact that

Sita World Travel (i) (P.) Ltd. Vs. Deputy Commissioner of Income-tax.

Court : Delhi

Subject : Direct Taxation

Reported in : [1995]55ITD357(Delhi)

to the tourists. In this connection he invited our attention to the provisions of section 40 of the Finance Act, 1983, where by Wealth-tax was revived in the case of closely-held companies. He further referred to the provisions … thereforee, urged that the said amendment should apply in the case of the assessed for the assessment year 1985-86 and the value of the tourist cars which operated as taxis on hire to the extent of Rs.

Carlsberg India Private Limited and Others Vs. Union of India and Othe ...

Court : Delhi

Subject : Service Tax

filed under Article 226 of the Constitution of India challenging the constitutional validity of Section 66B of the Finance Act, 1994 ( FA 1994 ) read with 65B(40) and Section 66D of the FA 1994as amended by Clause … Act was defined as those goods specified in the First and Second Schedule to the Central Excise Tariff Act, 1985 ( CET Act ). Note 11 to Chapter 22 of theFirst Schedule to the CET which exclusively covered

ANZ Grindlays Bank Vs. Deputy Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

thereon under Chapter XVII B of the Act. The said clause (iii) was substituted by virtue of the Finance Act, 2003 with effect from 1st April 2004. By virtue of the aforesaid amendment, the rigor of sub clause … expatriate employees. 3.6 The assessments for the six assessment years from AY 1985-86 to 1990-91 stood concluded as on 28th July, 1994 and, thus, the … in the present appeal relates to the denial of deduction of expenses - by virtue of provision of Section 40(a)(iii) of the Act -for failure on the part of the Assessee to deduct and deposit Tax Deducted at

ANZ Grindlays Bank (now Standard Chartered Grindlays Bank Ltd.) Vs. De ...

Court : Delhi

Subject : Direct Taxation

thereon under Chapter XVII B of the Act. The said clause (iii) was substituted by virtue of the Finance Act, 2003 with effect from 1st April 2004. By virtue of the aforesaid amendment, the rigor of sub clause … expatriate employees. 3.6 The assessments for the six assessment years from AY 1985-86 to 1990-91 stood concluded as on 28th July, 1994 and, thus, the … in the present appeal relates to the denial of deduction of expenses - by virtue of provision of Section 40(a)(iii) of the Act -for failure on the part of the Assessee to deduct and deposit Tax Deducted at

The Commissioner of Income Tax and Another Vs. V.S. Dempo and Co. Pvt. ...

Court : Mumbai

Subject : Direct Taxation

is not relevant for our purpose. We are also not concerned with insertion of section 9A by the Finance Act 2015 with effect from 1st April, 2016. 19. By Chapter III, incomes which do not form part of … of law for opinion of a larger bench. Q. Whether, while dealing with the allowability of expenditure under section 40(a)(i) of the Income Tax Act, 1961, the status of a person making the expenditure has to be a

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 … the assessment of the company there was a disallowance of the expenditure relating to the above assets under Section 40(c) of the Act on the ground that the expenditure was excessive and unreasonable having regard to the legitimate

Reliance Industrial Infrastructure Ltd. Vs. Jt. Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)75TTJ(Mumbai)606

is only with effect from assessment year 1997-98 that the new provisions of section 145(2) substituted by the Finance Act, 1995, have come into operation which alone have empowered the Central Government to notify Accounting Standards to be … to the Maharashtra Sales Tax on the Transfer of the Right to use any Goods for any Purpose Act, 1985. It is pointed out that levy of lease tax is under section 4 of the above Act, which

V. M. Salgaocar and Bros. (P) Ltd., Etc. Vs. Commissioner of Income Ta ...

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : (2000)160CTR(SC)225

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 … Tribunal is right in law in deleting addition of Rs.5,21,241 made by the Income Tax Officer under section 40A(5) and sustained by the Commissioner (Appeals)?(2) Whether on the facts and in the circumstances of the case, the