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A.C.i.T. and D.C.i.T. Vs. Shri Raghunath B. Taware

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2008)302ITR136(Pune.)

together. First two provisions have been introduced by the same Finance Act 1972 Section 115BB was introduced by Finance Act 1986 seeking to replace Section 80 TT which was introduced by Finance Act 1972. In all these sections reference … 1.3 of the memo explaining provisions in the "Finance Bill", 1972. (iii) Reference may be made to para 102 of the "Budget Speech of Minister of Finance. 1986-87" and note on douses of the "Finance Bill, 1986"

Jct Ltd. Vs. Deputy Commissioner of Income Tax and anr.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(2), 35, 36(1), 37, 43 and 43(1); ;Finance Act, 1986; ;Finance Act, 2003; ;Companies Act, 1948 - Section 65

Reported in : (2005)194CTR(Cal)509,[2005]276ITR115(Cal)

on the basis of Expln. 8 to Section 43(1) as was inserted in the IT Act, 1961 through Finance Act, 1986 w.e.f. 1st April, 1974, applicable in relation to the asst. yr. 1974-75 and subsequent years. The object of … in respect of capital borrowed for the purpose of business is concerned, the same was deductible under Section, 10(2)(iii). While proceeding to determine the question, the apex Court had warned that the Court has to bear in

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) … to a few provisions as existed at the relevant point of time would be necessary. Section 2(24)(ix), Section 10(3), Section 74A and Section 80TT of the Act read as follows :'2. (24) 'income' includes- . .(ix) any

Commissioner of Income Tax-i Vs. Vardhman Polytex Limited

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2008)214CTR(P& H)561; [2008]300ITR186(P& H)

of actual cost of an asset. Explanation 8 to Section 43(1) of the Act was added by the Finance Act, 1986 w.e.f. 1.4.1974. The object of the said amendment as contained in the Finance Bill, 1986 as it appeared … of the case, the assessee was entitled under the provisions of Sections 10(2)(vi), 10(2)(via) and 10(2)(vib) read with Section 10(5) of the Indian Income-tax Act, 1922, to treat the sum of Rs. 23,53,284 being the amount of interest

Wellpoint Systems (P.) Ltd Vs. Inspecting Assistant Commissioner.

Court : Delhi

Subject : Direct Taxation

Reported in : [1989]30ITD236(Delhi)

in this appeal relates to the claim ability of deduction under section 32AB which was inserted by the Finance Act, 1986 with effect from 1-4-1987. That provision is to the effect that where an assessed whose income includes income … of the President to the Finance Bill, 198613-5-1986(4) Date of framing deposit scheme under section 32AB (161 ITR 101 Statutes).15-7-1986(5) Date on which 6 months from the end of the previous year relevant to the Asst. Year

Deputy Commissioner of Income-tax Vs. Core Healthcare Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 4, 5, 28 to 43D and 145; Finance Act, 1986 - Sections 9; Income-tax Act, 1922 - Sections 10(2)

Reported in : (2001)169CTR(Guj)416; [2001]251ITR61(Guj)

1986. The said circular deals with the explanatory notes on the provisions relating to direct taxes in the Finance Act, 1986 : at [1986] 161 ITR 30, it is laid down as under :'(ix) Modification in the definition of … 1986, at page 116, it is stated thus (see [1986] 158 ITR 107) :'MEASURES FOR COMBATING TAX AVOIDANCE AND EVASION 'Actual cost' for the purposes … borrowing made for acquisition as capital assets, though pertaining to period prior to the commencement of production, under Section 36(1)(iii) of the Act ?'2. The brief facts for appreciating the controversy are : the assessee-company, in which

The Joint Labour Commissioner and Registering Officer Vs. Kesar Lal

Court : Supreme Court of India

Subject : Education

a ‘consumer’ within the meaning of Section 2(d) of the Consumer Protection Act 1986. Such services are primarily financed out of budgetary allocations. In the present case, though a service is rendered by the Board, the expenditure … framed pursuant to the enactment, is a ‘consumer’ within the meaning of Section 2(d) of the Consumer Protection Act 1986. The issue assumes significance because the answer will determine whether a beneficiary of a statutory welfare scheme is … pay an amount of Rs 51,000 to the respondent together with Rs 10,000 as compensation, Rs 5,000 for expenses and interest of 18 per cent

Sunrise Biscuits Co. Ltd. and anr. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax

Government issued notification, on April 4, 1994 in exercise of the powers under Section 7 of the Bihar Finance Act, 1987 whereunder the old industrial units, which had started production prior to April 1, 1993, but whose investments … not seriously in dispute, may, in brief, be set out as follows:(i) By a notification, dated December 25, 1986 the Government of Assam announced its industrial policy of 1986 promising thereunder a new package of incentives for … other place of the State with an additional employment of, at least, 10 per cent and is, in compliance with the criteria of the industrial

Musthafa Ummer and anr. Vs. Appropriate Authority and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 269UC, 269UD and 269UD(1A); Constitution of India - Article 14

Reported in : (2002)173CTR(Ker)402; [2002]254ITR134(Ker)

considering the validity of the various provisions in Chapter XX-C inserted in the Income-tax Act, 1961, by the Finance Act, 1986. While considering the scope of Section 269UD(1), the apex court held as follows (page 553): 'In the light … a direction to the appropriate authority to issue a no objection certificate for the transfer of the property. 10. Counsel also submitted that exhibits P-7, P-9 and P-11 orders are bad in law since they are issued

Hamdard Laboratories India and Another Vs. Assistant Director of Incom ...

Court : Delhi

Subject : Education

of Hamdard's objects prior to 01.04.2009 is concerned. In light of the amendment to Section 2(15) introduced by Finance Act, 2008, the revenue argues that Hamdard ceases to be a charitable organisation with effect from 01.04.2009 and cites … Hamdard Laboratories (India) (hereafter referred to as Hamdard the first Petitioner in the six writ petitions) “ under Section 10(23C)(iv) of the Income Tax Act, 1961 (hereafter the Act ?). The Director General of Income Tax (Exemptions) (