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Super Spinning Mills Ltd. Vs. Commissioner of Income-tax and anr.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 156, 220 and 220(2); Taxation Laws (Continuation and Validation of Recovery Proceedings) Act, 1964 - Sections 3; Finance Act, 1986

Reported in : [2000]244ITR814(Mad)

Income-tax (Appeals), the Income-tax Officer filed an appeal to the Income-tax Appellate Tribunal, Madras. In the meantime, the Finance Act, 1986, added an Explanation 8 to Section 43(1) with retrospective effect from April 1, 1974. In view of … filed appeals before the Commissioner of Income-tax (Appeals). The said appellate authority by its orders dated March 20, 1985, for both the assessment years upheld the claim of the petitioner in respect of depreciation and investment allowance

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

Adar Tea Produce Company Ltd. and anr. Vs. Assistant Commissioner of I ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32 and 43(3); Finance Act, 1995; Income Tax Rules, 1962 - Rule 8(2); Taxation Law

Reported in : [2000]244ITR608(Mad)

the Constitution of India.2. Section 12 of the Finance Act, 1995, has amended the definition of 'plant' in Section 43 of the Income-tax Act, 1961 (hereinafter to be referred to as 'the Act'), with retrospective effect from which … Balasubramanian, J.1. The above writ petitions are for a writ of declaration to declare Section 12 of the Finance Act, 1995, ultra vires, illegal and void of the Constitution of India.2. Section 12 of the Finance Act, 1995,

Gujarat Alkalies and Chemicals Ltd. Vs. Deputy Commissioner of Income ...

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2002)82ITD135(Ahd.)

i.e.., 1st April, 1999. According to the learned counsel, the legislative intention in introducing Section 35AB by the Finance Act, 1985, w,e.f. 1st April, 1986, and thereafter substituting the same by a new provisions allowing depreciation on the intangible … that the asseseee shall pay a fee of DM 6,00,000 for grant of licence and further payment of 43,60,000 DM for the performance of services as per Article 2.2 and Article 2.3 reproduced hereinbefore.4.5. From the aforesaid

Vijay Madanlal Choudhary Vs. Union Of India

Court : Supreme Court of India

Subject : Land Acquisition

proceeds of crime is involved in money-laundering.” 371 The Standing Committee of Finance then made some recommendations as follows: “The Committee recommend that the prescribed … Section 15 Terrorist Affected Areas Act (Special Courts), 1984; Section 37 of the Narcotic Drugs and Psychotropic Substances Act, 1985; Section 20 of the Terrorist and Disruptive Activities (Prevention) Act, 1987; Section 8 of the Suppression Of Unlawful Acts … unconstitutional. SPECIAL COURTS104 The expression “Special Court” has been defined in Section 2(1)(z), which in turn refers to Section 43. Section 43 reads thus: “CHAPTER VII SPECIAL COURTS43 Special Courts.-(1) The Central Government, in consultation with the Chief

itc Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2003)86ITD135(Kol.)

was issued by the CBDT to explain the substance of the provisions relating to direct taxes in the Finance Act, 1986. The learned authorised representative is also silent about the observation of the AO that this type of … erred in confirming the action of the AO in rejecting the appellant's claim for being allowed deduction under Section 36(1)(iii) of IT Act, 1961, while computing the income chargeable under the head "Profits and gains of business … action of the AO in disallowing, by invoking the provisions of Section 43B of the Act, an aggregate amount of Rs. 6,65,438 being a part

Food Specialities Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1995)54ITD352(Delhi)

under the relevant statute, deduction was permissible in view of the proviso to Section 43B inserted by the Finance Act of 1987 w.e.f. 1-4-1988. Shri Dastur fairly conceded that the decisions of the Delhi High Court in the … decisions of the Tribunal relied upon by the learned counsel for the assessee are relating to applicability of Section 43 as per the law as it then prevailed. According to learned D.R., the said decisions of the Tribunal … of these two appeals of the assessee, one relating to assessment year 1985-86 and another for assessment year 1986-87, by this consolidated order.2. Appellant is

Addl. Commissioner (Legal) and anr. Vs. M/S. Jyoti Traders and anr.

Court : Supreme Court of India

Subject : Sales Tax

Acts : Income Tax Act, 1922 - Sections 34; Income Tax Act, 1961 - Sections 148 and 297(2); Finance Act, 1956 - Sections 18; Bengal Finance (Sales Tax) (Third Amendment) Act, 1974; Utter Pradesh Trade Tax Act, 1948; Bengal Sales Tax Rules, 1941 - Rule 80(5)

Reported in : [1999]112STC277(SC)

case of a person deemed to be an agent of a non-resident person. By Section 18 of the Finance Act, 1956, period of one year was increased to two years. The relevant clauses of Section 34 prescribing the … made or to be made on a person deemed to be the agent of a non-resident person under section 43, this sub-section shall have effect as if for the periods of eight years and four years a period … out of SLP (C) No. 11015 of 1997) assessment for the year 1985-86 under the UP Trade Tax Act, 1948 (for short 'the Act') was

Commissioner of Income-tax Vs. Daudayal Hotels Pvt. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 5, 28 to 41, 43, 43(6) and 256(1); Income Tax Act, 1922 - Sections 10(2); Finance Act, 1983; Income Tax Act, 1866

Reported in : (2005)199CTR(Guj)556

on new hotel building is not deductible for arriving at WDV in view of the amendments effected by Finance Act, 1983? 2. The Assessment Year is 1985-86 and the relevant accounting period is calender year ended on 31st … impugned order of Tribunal by inviting attention to definition of SWritten Down Value, as appearing in Sub-section(6) of Section 43 of the Act. According to him, Clause (b) of Sub-section(6) states that Written Down Value means the actual

industrial Machinery Associates Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2002)81ITD482(Ahd.)

accordance with the provisions contained in sub-item (C) of item (i) of Sub-clause (c) of Clause (6) of Section 43; and Explanations 1 and 2 above have been substituted in place of the earlier Explanation, by the Finance … beyond the purview of taxation under Section 45. The learned counsel argued that Section 50B introduced by the Finance Act, 1999 w.e.f. 1st April, 2000 brought the transaction of slump sale within the purview of capital gains under … as defined in Clause (ga) of Sub-section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986)." Under the Sick Industrial Companies Act Section 3(1)(ga) defines the expression 'net worth' as the