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Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by Finance Act , 1986 Section115BB has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races (other than … 1. Petitioners in W.P.Nos.6565-6568/2013, 6651-6652/2013 and Petitioner in W.P.No.6674/2013 are Turf Clubs of … (5) Declare that Stake Money paid by the petitioner cannot be construed as winnings from games as per Section 194B of the Act. (6) Declare that the correct provision applicable in the present case is the Board

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by Finance Act , 1986 Section115BB has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races (other than … that deduction will have to be made at source and also advance payment of tax so deducted. Under sub-section (1) of Section 197 where in the case of any income of any person or sum payable to any

Deputy Commissioner of Income Tax, Ahmedabad Vs. Core Health Care Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43(1), 80HH, 80I, 90(2) and 260A; Finance Act, 1986 - Sections 43(1); Finance Act, 2003

Reported in : 105(2008)CLT433(SC); (2008)215CTR(SC)1; [2008]298ITR194(SC); JT2008(2)SC367; 2008(2)SCALE327; (2008)2SCC465; 2008AIRSCW1425

directly or indirectly by any other person or authority. Explanation 8 has been inserted in Section 43(1) by Finance Act, 1986 (23 of 1986), with retrospective effect from 1.4.74. It is important to note that the word 'actual cost'

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 … in the prescribed manner, whichever is higher.7. Clause (viia) had again undergone a change by the Income-tax (Amendment) Act, 1986, from April 1, 1987, the relevant portion of which reads as follows:(viia) in respect of any provision for

Freeze King Industries Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 37, 43, 43(1) and 256(1); Finance Act, 1986

Reported in : 2001VIIAD(Delhi)183; [2001]252ITR583(Delhi)

of such asset.' 5. It is to be noted that the Explanationn in question was inserted by the Finance Act, 1986, with retrospective effect from April 1, 1974. This provision no doubt was not before the Tribunal when it … the instance of the assesses, the following question has been referred for the opinion of this court under Section 256(1) of the Income-tax Act, 1961 (for short 'the Act'), by the Income-tax Appellate Tribunal, Delhi Bench 'B'

Indian Drugs and Pharmaceuticals Ltd. Vs. Union of India (Uoi) and anr ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 269UD, 269UD(1) and 269UE(2); Constitution of India; Finance Act, 1986; Public Premises (Eviction of Unauthorised Occupants) Act, 1971; Tamil Nadu Buildings (Lease and Rent Control) Act, 1960

Reported in : [2000]241ITR116(Mad)

unconstitutional and void and it is ultra vires Parliament. According to them, Chapter XXC was inserted by the Finance Act, 1986, with effect from October 1, 1986, and the said Chapter enables the Central Government to purchase immovable properties … petitioner herein has filed the present writ petition, seeking for a writ of declaration declaring the provision of Section 269UE(2) of the Income-tax Act, 1961, unconstitutional and void and to grant further consequential relief.2. In support of

Commissioner of Income-tax Vs. India Pistons Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 32A, 43 and 43(1); Finance Act, 1986

Reported in : (1999)155CTR(Mad)37; [2000]242ITR672(Mad)

such asset.'5. Explanation 8 to Section 43(1) of the Income-tax Act was inserted by Section 9 of the Finance Act, 1986, with retrospective effect from April 1, 1974. It declares that where any amount is paid or is payable

N. Karuna and anr. Vs. Appropriate Authority and ors.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 269UA, 269UC, 269UC(1), 269UC(2), 269UC(3), 269UC(4), 269UD, 269UD(1), 269UD(1A), 269UD(1B), 269UF(2), 269UL and 269UL(2); Transfer of Property Act, 1882 - Sections 53A; Registration Act, 1908; Finance Act, 1986

Reported in : [2001]251ITR230(AP)

other law for the time being in force.' 9. Chapter XX-C was inserted in the Act by the Finance Act, 1986, with effect from October 1, 1986. The object and purpose of inserting Chapter XX-C in the Act was … 15 per cent., therefore, it issued notices dated December 20, 1999, to the petitioners calling for objections under Section 269UC of the Act, initiating proceedings for pre-emptive purchase in exercise of the powers conferred on the first

G.N. Pant Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 2(24), 10(3), 74A, 80TT, 194B, 194BB and 256(1); Finance Act, 1986

Reported in : 2001IAD(Delhi)48; 89(2001)DLT433; [2001]248ITR718(Delhi)

Section 74A was introduced with effect from April 1, 1972. Sub-section (2) thereof, which was omitted by the Finance Act, 1986, reads as follows : '(2) The sources referred to in Sub-section (1) are-(a) lotteries ;(b) crossword puzzles ;(c)

Commissioner of Income-tax Vs. Export India Corporation (P.) Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 269C, 269D, 269F, 269H and 269UD; Finance Act, 1986

Reported in : (1996)133CTR(P& H)224; [1996]219ITR461(P& H)

immovable property after September 30, 1986, and a new Chapter XX-C was introduced in the Act by the Finance Act, 1986, with effect from October 1, 1986. Section 266RR provides that Chapter XX-A will not apply in relation to