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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 … in that previous year to the provision for bad and doubtful debts account made under that clause. ' 7. Section 36(1)(vii) of the Act as it stood prior to its amendment in 1985 provides for a deduction

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 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 … and a new beneficial provision has been incorporated vide notification No. 12/2007. 7. In order to appreciate the controversy, we are required to examine the

Suma Devi Vs. State of Kerala

Court : Kerala

Subject : Sales Tax

Acts : Kerala General Sales Tax Act, 1963 - Sections 5, 5(1) and 7(1); ;Kerala Finance Act, 2001 - Sections 1, 1(2) and 6; ;Kerala Finance Act, 2000 - Sections 7(1); ;Kerala Provisional Collection of Revenue Act, 1985; ;Constitution of India - Articles 14, 19(1) and 265

Reported in : 2005(2)KLT870; [2005]142STC170(Ker)

Section 7(1)(b) of the Kerala General Sales Tax Act, 1963 by Sections 1 and 6(c) of the Kerala Finance Act, 2001 (Act 7 of 2001) is under challenge in these cases. Writ petitioners are aggrieved by the introduction … Gazette Vol. XLVI (No. 1048 dt. 21.7.2001) which contained a declaration under the Kerala Provisional Collection of Revenue Act, 1985 to the effect that all the provisions of the Bill shall have immediate effect from the date of

Rajendran Pillai Vs. Union of India (Uoi)

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17(2) and 192; Finance Act, 1984; Finance Act, 1985; Finance Act, 2001; Income Tax Rules, 1963 - Rule 3 and 3(7); Constitution of India - Article 14

Reported in : (2006)205CTR(Ker)600; 2006(4)KLT149

referred to Section 17(2)(vi) introduced by Finance Act, 1984 with effect from 1.4.1985 and it's later deletion by Finance Act, 1985 retrospectively to neutralize the provision as originally introduced. By introducing Clause (vi) to Section 17(2) Parliament made it … was introduced. Even though the Karnataka High Court has not considered the scope of Clause (iv) of Section 7(2), the Andhra Pradesh High Court has considered it and held that interest concession given by the employer to

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 … of 1966, 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

Gkw Limited and anr. Vs. State of Rajasthan

Court : Rajasthan

Subject : Constitution

Reported in : AIR2008Raj90; RLW2008(2)Raj1627

Bhandari, J.1. In all these writ petitions, a challenge has been made to the Chapter VII to Rajasthan Finance Act, 2006 (hereinafter referred to as 'the Act of 2006') and Rules framed thereunder, as well as consequential notification … as consequential notification issued. It has been contended that the State of Rajasthan initially enacted Rajasthan Land Tax Act, 1985 (for short, 'the Act of 1985') for imposition of tax on the mineral bearing lands. However, said enactment … of 2006. In that regard, reference of Paras 3, 4, 5 and 7 of the judgment aforesaid was made specifically and prayed that looking to … even framed Rules on 25.9.2006 in exercise of the powers conferred by Section 61 of the Act of 2006. According to the petitioners, even the

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 … [1997] 226 ITR 625 and in the case of Mysore Minerals Ltd. v. CIT : [1999] 239 ITR 775. In this view of the matter, the aforesaid two questions of law which according to the Revenue would

State of Bihar and ors. Vs. Kalyanpur Cements Ltd.

Court : Supreme Court of India

Subject : Company

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 3; Sick Industrial Companies (Special Provisions) Act, 1985; Companies Act, 1956 - Sections 391; State General Sales Tax Act; General Clauses Act, 1897 - Sections 6; Validation Act; Bihar Finance Act, 1981 - Sections 7(3); Evidence Act - Sections 115; Sales Tax Rules; Constitution of India - Articles 14 and 226

Reported in : JT2010(1)SC225; 2010(1)SCALE150; 2010(1)LC348(SC); (2010)28VST1(SC)

Tax, opinion of Advocate General should be taken as to whether any amendment is required in the Bihar Finance Act. Subsequently, the Advocate General opined that no amendments are required in the Bihar Finance Act, 1981 and that … that the Company is a `sick company' registered with the BIFR under the Sick Industrial Companies (Special Provisions) Act, 1985 and undergoing a process of restructuring. The Company's proposal for financial assistance and restructuring was earlier approved by … and Ors. v. Tata Iron and Steel Co. and Anr. : (2001) 7 SCC 358.20. Mr. Ravi Shankar Prashad, Senior Advocate appearing for the respondent … Bihar. Respondent No. 2 is a Securitization and Reconstruction Company established under Section 3 of the Securitization and Reconstruction of Financial Assets and Enforcement of