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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 … the petitioners are bound to deduct tax. He draws the attention of the Court to the definition of Section 2(24)(ix) which indicates any winnings from lotteries, cross word puzzles, races including horse races, card games and other games

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

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

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 … the prescribed manner, whichever is higher.' 4. 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

The Commissioner of Income Tax Vs. Sree Annapoorna Gowrishankar Metals ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 80B and 154; Finance Act, 1986 - Sections 2(7)

Reported in : (2003)182CTR(Mad)466; [2003]262ITR497(Mad)

following its earlier order rendered in the assessee's own case, held that as per section 2(7)(g) of the Finance Act, 1986, the assessee is not a trading company and is liable to be taxed at the rate of 55%

South Indian Bank Ltd. Vs. Cit

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]130TAXMAN749(Ker)

of section 36(1) and clause (v) of section 36(2) were inserted simultaneously with effect from 1-4-1985 by the Finance Act of 1985. Clause (viia) of section 36(1) of the Act, it must be noted, was inserted by Act … such bank, computed in the prescribed manner;Clause (viia) had again undergone a change, by the Income Tax (Amendment) Act, 1986 from 1-4-1987, the relevant portion of which reads as follows :'(viia) in respect of any provision for bad

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)

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' … Income Tax, Ahmedabad v. Core Health Care Ltd.2. These civil appeals are directed against judgment and order dated 25.4.01 delivered by Gujarat High Court in Tax Appeal Nos. 449 and 450 of 2000 and in Civil Application

Hiten Rashmikant Mehta and Swati Hiten Mehta Vs. Union of India (Uoi) ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Rules, 1962 - Rule 48DD, 48L and 48L(2); Income Tax (Seventh Amendment) Rules, 1987; Income Tax Act, 1961 - Sections 269A, 269AB, 269AB(1), 269AB(2), 269D(1), 269F(7), 269RR, 269UC, 269UC(3) and 269UD(1); Finance Act, 1986; Transfer of Property Act, 1882 - Sections 53A; Registration Act, 1908

Reported in : (2007)109BOMLR2567; (2008)214CTR(Bom)303; [2009]311ITR212(Bom)

competent authority could consider the statement in form 37EE filed by the petitioners, the Act was amended by Finance Act, 1986 w.e.f. 1st October, 1986. By the said amendment, Section 269RR was inserted in the Act to the effect … petition is filed to challenge the order dated 15th February, 1993 passed by the Appropriate Authority under Section 269UD(1) of the Income Tax Act, 1961 ('Act' for short), as well as constitutional validity of Rule 48L of

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 the … Rs. 46,02,268 for the acquisition of plant and machinery between the period of August 1, 1978, and September 28, 1978, so as to enable to expand its production capacity. In the letter dated February 14, 1981, with